MIRA
INFORM REPORT
|
Report Date : |
31.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
DANEWALIA TIMBERS PRIVATE LIMITED |
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Registered
Office : |
W. No. 17, Village Road, Mansa Post Office, Mansa – 151505, Punjab |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.11.2009 |
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Com. Reg. No.: |
033349 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.200 Million |
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CIN No.: [Company Identification
No.] |
U20232PB2009PTC033349 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AMRD12235G |
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PAN No.: [Permanent Account No.] |
AADCD3227C |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Trader and Exporter of Timbers. |
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No. of Employees
: |
15 (approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 30680 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company having moderate track.
Profitability of the company appears to be low. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Keshav |
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Designation : |
Director |
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Contact No.: |
91-9814665805 |
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Date : |
25.01.2012 |
LOCATIONS
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Registered Office : |
W. No. 17, Village Road, Mansa Post Office, Mansa – 151505, Punjab,
India |
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Mobile No.: |
91-9216400805 (Mr. Pravin –Accountant) |
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E-Mail : |
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Location : |
Owned |
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Branches : |
Kandla, Gujarat |
DIRECTORS
As on 07.05.2011
|
Name : |
Mr. Surinder Garg |
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Designation : |
Director |
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Address : |
W. No. 17, Village Road, Mansa, Bathinda – 151505, Punjab, India |
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Date of Birth/Age : |
11.11.1972 |
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Date of Appointment : |
09.11.2009 |
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Name : |
Mrs. Neelam Rani |
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Designation : |
Director |
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Address : |
H. No. 65, Ram Ji Prdhan Wali Factory, W. No. 13, Tehsil Mansa,
Bathinda – 151505, Punjab, India |
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Date of Birth/Age : |
10.09.1976 |
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Date of Appointment : |
09.11.2009 |
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Name : |
Mr. Keshav Jindal |
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Designation : |
Director |
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Date of Birth/Age : |
31 years |
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Qualification : |
Graduate |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 07.05.2011
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Names of Shareholders |
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No. of Shares |
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Mr. Surinder Garg |
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10000 |
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Mrs. Neelam Rani |
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10000 |
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Total |
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20000 |
As on 07.05.2011
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Exporter of Timbers. |
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Exports : |
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Products : |
·
Timbers |
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Countries : |
·
Malaysia ·
Canada ·
Africa |
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Terms : |
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Selling : |
L/C, Credit (30 days, 60 days) |
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Purchasing : |
L/C, Credit |
GENERAL INFORMATION
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Suppliers : |
·
Single Timbers ·
Rajpal Timbers ·
Kushal Timbers ·
Navin Timber |
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Customers : |
·
Wholesalers ·
Retailers ·
Gupta Traders ·
Suhana Timbers |
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No. of Employees : |
15 (approximately) |
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Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati Bapat
Marg, Lower Parel (W), Mumbai – 400013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Anoop Singla and Company Chartered Accountant |
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Address : |
315 Model Town, Ludhiana – 141001, Punjab, India |
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Tel. No.: |
161-2400332 |
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Associates/Subsidiaries : |
Hin Timber Trader |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.200 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2011 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.200 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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7.470 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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7.670 |
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LOAN FUNDS |
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1] Secured Loans |
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71.091 |
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2] Unsecured Loans |
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9.965 |
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TOTAL BORROWING |
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81.056 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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88.726 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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138.631 |
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Sundry Debtors |
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10.352 |
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Cash & Bank Balances |
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0.298 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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7.019 |
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Total
Current Assets |
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156.300 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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62.806 |
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Other Current Liabilities |
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4.879 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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67.685 |
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Net Current Assets |
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88.615 |
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MISCELLANEOUS EXPENSES |
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0.111 |
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TOTAL |
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88.726 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2011 |
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SALES |
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Turnover (including other income) |
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27.248 |
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EXPENSES |
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TOTAL |
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27.148 |
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PROFIT BEFORE
TAX |
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0.100 |
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Less |
TAX |
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0.030 |
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PROFIT AFTER TAX
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0.070 |
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Earnings Per
Share (Rs.) |
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5.00 |
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KEY RATIOS
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PARTICULARS |
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31.03.2011 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.06 |
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Return on Investment (ROI) (PBT/Networth) |
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0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
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19.39 |
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Current Ratio (Current Asset/Current Liability) |
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2.30 |
LOCAL AGENCY FURTHER INFORMATION
Form 8
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Corporate
identity number of the company |
U20232PB2009PTC033349 |
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Name of the
company |
DANEWALIA TIMBERS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
W. No. 17, Village Road, Mansa Post Office, Mansa – 151505, Punjab,
India |
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This form is for |
Creation of
charge |
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Type of charge |
Book debts Movable property Floating charge |
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Particular of
charge holder |
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Nature of
instrument creating charge |
Letter of
Hypothecation |
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Date of instrument
Creating the charge |
19.02.2011 |
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Amount secured by
the charge |
Rs. 80.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the rate
as may be communicated by the Bank from time to time. Terms of
Repayment On Demand. Margin Company shall at
all times during the continuance of this security maintain the said debts of
a sufficient amount to provide the margin of security as may from time to
time advised by the Bank. Extent and
Operation of the charge Hypothecation by
way of First Charge on Company's Stocks and Book Debts, etc., to secure as a
continuing security as mentioned in Column No.15 below for the repayment of
Rs.800 Lacs, together with interest, costs, charges, expenses and other
moneys due and payable by the Company to the Bank. Others NIL. |
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Particulars of
the property charged |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished goods,
and other merchandise whatsoever being movable properties, All the debts,
that is, all the book debts, outstandings, monies receivables, claims, bills, invoice documents, contracts,
guarantees, and rights |
Trade References
·
Single Timbers
·
Rajpal Timbers
·
Kushal Timbers
·
Navin Timber
·
Gupta Traders
·
Suhana Timbers
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter's background |
---------------------- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact
person |
Yes |
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11) Turnover of firm for last
three years |
Yes
(1 years) |
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12) Profitability for last
three years |
No |
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13) Reasons for variation
<> 20% |
No |
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14) Estimation for coming
financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
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20) Export / Import details
(if applicable) |
Yes |
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21) Market information |
---------------------- |
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22) Litigations that the firm
/ promoter involved in |
---------------------- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking
account |
---------------------- |
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26) Buyer visit details |
---------------------- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if
applicable |
---------------------- |
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29) Last accounts filed at ROC |
---------------------- |
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30) Major Shareholders, if
available |
---------------------- |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.50 |
|
|
1 |
Rs.77.73 |
|
Euro |
1 |
Rs.65.18 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.