MIRA
INFORM REPORT
|
Report Date : |
19.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
M B TIMBER PRIVATE LIMITED |
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Registered
Office : |
78, Bentick Street, "Shree Krishna Chamber", 2nd
Floor, Unit – 2B, Kolkata – 700001, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
15.11.2001 |
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Com. Reg. No.: |
21-093928 |
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Capital
Investment / Paid-up Capital : |
Rs.32.648 Millions |
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CIN No.: [Company Identification
No.] |
U20101WB2001PTC093928 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALM10204F |
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PAN No.: [Permanent Account No.] |
AACCM6526C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Suppliers of Doors. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Financial
detail for the year 2011-2012 is missing from government department. However,
from the previous year record company profitability appears to be low. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with slight
caution. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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|
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 |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
CASH CREDIT : CRISIL BB- |
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Rating Explanation |
Having moderate risk of default regarding
timely servicing of financial obligation. |
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Date |
August, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
78, Bentick Street, "Shree Krishna Chamber", 2nd
Floor, Unit – 2B, Kolkata – 700001, West |
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Tel. No.: |
91-33-22257780 |
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Fax No.: |
91-33-22257781 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Ajay Kumar Gupta |
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Designation : |
Director |
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Address : |
213, |
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Date of Birth/Age : |
10.06.1971 |
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Date of Appointment : |
01.04.2003 |
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DIN No.: |
00651928 |
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Other Directorship :
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
30, |
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Date of Birth/Age : |
19.05.1951 |
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Date of Appointment : |
03.02.2008 |
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DIN No.: |
01669875 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Ajay Kumar Gupta |
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866180 |
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87000 |
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Ajay Kumar Gupta (HUF) |
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210000 |
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Gouri Shankar Gupta (HUF) |
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350000 |
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Sepujini Devi Gupta |
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40000 |
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Manju Gupta |
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693600 |
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M. B. Woodcraft Private Limited, |
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1018000 |
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Total |
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3264780 |
List of Allottees
As on 31.03.2012
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Names of Allottees |
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No. of Shares
Allotted |
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Anubhav Infrastructure Limited, |
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2600 |
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Apex Procon Private Limited, |
|
1200 |
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Barharwa Realtors Private Limited, |
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400 |
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Circular Vincom Private Limited, |
|
800 |
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Dream Dealers Private Limited, |
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400 |
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Lotus Dealmark Private Limited, |
|
800 |
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Maa Sharda Vincom Private Limited, |
|
800 |
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Maritime Marketing Private Limited, |
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1200 |
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Mayapur Merchandise Private Limited, |
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4000 |
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Orient Dealcom Private Limited, |
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400 |
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Pashupati Dealcom Private Limited, |
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1200 |
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Prime Rose Comm Sales Private Limited, |
|
1000 |
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Ritu Dhara Marketing Private Limited, |
|
800 |
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Shree OHM Properties Private Limited, |
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1400 |
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Trimurti Infra Developers Private Limited, |
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3000 |
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Trust Worthy Viniyog Private Limited, |
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600 |
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Vaikunth Vintage Private Limited, |
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3680 |
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Vigneshwar Dealmark Private Limited, |
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1520 |
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Total |
|
25800 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
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Category |
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Percentage |
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Bodies corporate |
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48.40 |
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Directors or relatives of directors |
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51.60 |
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Total
|
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Suppliers of Doors. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
The Federal Bank
Limited, R N Mukherjee Road Branch, 1, R N Mukherjee Road, Kolkata - 700001,
West Bengal, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Thakur Sudhir Kumar Chartered Accountant |
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Address : |
133,G.T.Road (N), 3rd Floor, Salkia, |
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PAN No.: |
ACBPT6541L |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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4600000 |
Equity Shares |
Rs.10/- each |
Rs.46.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3290580 |
Equity Shares |
Rs.10/- each |
Rs.32.906
Millions |
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As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3500000 |
Equity Shares |
Rs.10/- each |
35.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3264780 |
Equity Shares |
Rs.10/- each |
Rs.32.648
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
32.648 |
32.648 |
24.648 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
149.817 |
143.294 |
104.661 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
182.465 |
175.942 |
129.309 |
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LOAN FUNDS |
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1] Secured Loans |
37.123 |
29.122 |
35.603 |
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2] Unsecured Loans |
8.796 |
3.615 |
5.076 |
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TOTAL BORROWING |
45.919 |
32.738 |
40.679 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.002 |
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TOTAL |
228.384 |
208.680 |
169.990 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
31.222 |
20.955 |
8.199 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.074 |
0.000 |
81.697 |
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DEFERREX TAX ASSETS |
0.000 |
0.152 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
680.258
|
503.282 |
375.982 |
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Sundry Debtors |
143.361
|
44.201 |
82.672 |
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Cash & Bank Balances |
100.909
|
96.789 |
0.994 |
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Other Current Assets |
2.408
|
1.858 |
0.171 |
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Loans & Advances |
22.818
|
10.318 |
17.334 |
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Total
Current Assets |
949.754
|
656.448 |
477.153 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
394.726
|
181.779 |
148.367 |
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Other Current Liabilities |
350.262
|
282.807 |
246.652 |
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Provisions |
8.158
|
4.889 |
2.216 |
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Total
Current Liabilities |
753.146
|
469.475 |
397.235 |
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Net Current Assets |
196.608
|
186.973 |
79.918 |
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MISCELLANEOUS EXPENSES |
0.480 |
0.600 |
0.176 |
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TOTAL |
228.384 |
208.680 |
169.990 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
NA |
NA |
NA |
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Other Income |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT BEFORE
TAX |
9.943 |
9.153 |
3.649 |
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TAX |
3.421 |
2.519 |
1.120 |
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PROFIT AFTER TAX
|
6.522 |
6.634 |
2.529 |
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PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.112 |
6.478 |
3.949 |
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BALANCE CARRIED
TO THE B/S |
19.634 |
13.112 |
6.478 |
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Earnings Per
Share (Rs.) |
2.00 |
2.03 |
1.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.01 |
1.35 |
0.75 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.05 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.38 |
2.85 |
3.39 |
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Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.40 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
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5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
No |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note:
The Registered Office of the company has been shifted from
Kolkata – 700007, West Bengal, India to the present address w.e.f.
02.06.2010
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U20101WB2001PTC093928 |
|
Name of the company |
M B TIMBER PRIVATE LIMITED |
|
Address of the registered office or of the principal place
of business in |
78, Bentick Street, "Shree Krishna Chamber", 2nd
Floor, Unit – 2B, Kolkata – 700001, West E-mail Id : mbtpl@sify.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90247287 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) |
|
Particular of charge holder |
The Federal Bank Limited, R N Mukherjee Road Branch, 1, R N Mukherjee Road, Kolkata - 700001, West Bengal, India E-mail Id : calc@federalbank.co.in |
|
Nature of instrument creating charge |
Letter of Credit Agreement Agreement for Hypothecation of goods as Additional Security Deposit of Title Deeds |
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Date of instrument Creating the charge |
10.02.2012 |
|
Amount secured by the charge |
Rs.334.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC @ BR+7% LC @10.75% above base rate, subject to a minimum of 21.50% p.a. Terms of Repayment On demand Margin CC 25% on inventory and 30% on receivables LC 25% on LC Rs.250.000 Millions (Cash Margin) LC 30% on Adhoc LC Rs.50.000 Millions (Cash Margin) Extent and Operation of the charge The borrower intend to create mortgage by way of deposit of title deeds as envisaged under section 58(f) of the transfer of property act in favour of the bank as a continuing collateral security. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
All that the office space being unit No.8 on the third floor having super built up area of 1062 sq.ft. (built up area 764 sq ft. in aggregate in the building 'RAIKVA' together with undivided impartiable undermarcated proportionate share and interest on all that piece and parcel of land measuring area of 78 Cottahs 9 Chittaks 43 Sq.ft. more or less at premises No.3A, Rammohan Mullick Garden Lane, Police Station Beliaghata Kolkata -700 010 butted and bounded in the manner, On the North by premises No.3B, Rammohan Mullick Garden Lane, on the East by Eastern Metropolitan Byepass, On the South by premises No.76, Beliaghata Main Road and on the West by Rammohan Mullick Garden Lane, Kolkata - 700 010. Property No 1 (Deed No.110) of ARA 1 Kolkata 745 Sqft super build up with undivided share in the land Survey No 15-173/New and 15-173/A/New B.B.T Road Kolkata 700141. Property No 2(Deed No. 13739of ARA ll Kol) 1436 sqt super built up with undivided impartable share in the land and car parking space80sqt Survey No 78 Bentinck St. of space no 2B on the 2nd Floor Kolkata – 700001 Property No 3 (Document No 220009 of ADSR Serampore) Property No 4 (Document No 2198/09 of ADSR Serampore) All that land measuring about an area of 2293.50 sft together with one storeyed building thereon situated at Mouza Chitoni Ander Pargana-Lakshnawar, Comprised in Dag No.1592/3, Police Station-Rashra Uttar Pradesh Exclusive hypothecation charge on the entire current assets
of the company, LC: Extensive of hypothecation charge on the entire current
asset of the company. Original Deed of Sale No. 02216 dated 05-03-10, Deed of
Sale No. 6321 dated 28-06-2010, Deed of Sale No. 6319 dated 28-06-2010, Deed
of Sale No. 6320 dated 28-06-2010 registered at District Sub Registrar 1, |
|
Date of instrument modifying the charge |
28.11.2011 |
|
Particulars of the present modification |
By this modification at the request of the Borrower the overall limit enhanced from Rs.284.000 Millions to Rs.334.000 Millions. Nature of Facility : Cash Credit - Rs.34.000 Millions, Import LC (DA/DP)- Rs.250.000 Millions, Adhoc IMLC Rs.50.000 Millions.( Inland LC (DA/DP sub limit Rs.74.500 Millions, BG sublimit to import LC Rs.30.000 Millions, Buyers Credit sublimit to IMLC Rs.150.000 Millions). |
FIXED ASSETS:
·
Air conditioner
·
·
Computer Printer
·
Core Dryer Machine
·
Crane
·
Factory Shed
·
Fax and Xerox
·
Furniture and
Fixtures
·
Gold
·
Land and Building
·
Mobile Phone
·
Motor Car
·
Refrigerator
·
Telephone
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 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.54.99 |
|
|
1 |
Rs.87.21 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.