MIRA INFORM REPORT

Report Date :

08.02.2013

IDENTIFICATION DETAILS

Name :	CENTURY PLYBOARDS (INDIA) LIMITED
Registered Office :	6, Lyons Range, Kolkata – 700 001, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	05.01.1982
Com. Reg. No.:	21-034435
Capital Investment / Paid-up Capital :	Rs.227.527 Millions
CIN No.: [Company Identification No.]	L20101WB1982PLC034435
TAN No.: [Tax Deduction & Collection Account No.]	CALC04599A
PAN No.: [Permanent Account No.]	AABCC1682J
Legal Form :	A Public Limited Liability company. The company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturer and Seller of Plywood and Veneer.
No. of Employees :	4658 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (63)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 12500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track record. There appears some dip in the profitability of the company. It is due to unprecedented loss on account of foreign exchange. However, general financial position of the company is good. Trade relations are reported to be regular and as per commitment. The company can be considered good for normal business dealings at usual trade terms and conditions.

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)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	A+ (Long Term Rating)
Rating Explanation	Adequate degree of safety. It carry low credit risk.
Date	April 30, 2012

Rating Agency Name	CRISIL
Rating	A1 (Short Term Rating)
Rating Explanation	Very strong degree of safety. It carry lowest credit risk.
Date	April 30, 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 :	6, Lyons Range, Kolkata – 700 001, West Bengal, India
Tel. No.:	91-33-22104321/ 22/ 23/ 24/ 25/ 26
Fax No.:	91-33-22483539
E-Mail :	century@giasc101.vsnl.net.in web@centuryply.com Kolkata@centuryply.com arun@centuryply.com
Website :	http://www.centuryply.com
Plywood, Veneer and Laminate Units
Factory 1 :	Diamond Harbour Road, Kanchowki, Bishnupur, Dist: 24 Parganas (S), West Bengal, India
Tel. No.:	91-33-24709680/ 9155/ 9157
Factory 2 :	Rambha Road, Taraori , Haryana, India
Factory 3 :	Mirza Palasbari Road, Kamrup, Assam, India
Factory 4 :	Chinnappolapuram, Gummidipoondi, Tamilnadu, India
Factory 5 :	Ferro Alloy and Power Units EPIP Area, Byrnihat, District Ri-Bhoi, (Meghalaya)
Container Freight Station 1:	Block B andC, Sonai Khidderpore Kolkata – 700088, West Bengal, India
Container Freight Station 2:	Hide Road, Brace Bridge, Khidderpore Kolkata - 700 088, West Bengal, India

DIRECTORS

As on: 31.03.2012

Name :	Mr. Sajjan Bhajanka
Designation :	Chairman
Date of Birth/Age :	60 Years
Qualification :	B.Com
Experience :	33 Years
Date of Appointment :	05.02.1986
Name :	Mr. Hari Prasad Agarwal
Designation :	Vice Chairman
Qualification :	B.Com
Date of Appointment :	05.06.1982
Name :	Mr. Sanjay Agarwal
Designation :	Managing Director
Date of Birth/Age :	51 Years
Experience :	25 Years
Qualification :	B. Com
Date of Appointment :	05.01.1982
Name :	Mr. Prem Kumar Bhajanka
Designation :	Managing Director
Name :	Mr. Vishnu Khemani
Designation :	Managing Director
Date of Birth/Age :	60 Years
Experience :	34 Years
Qualification :	Science Graduate
Date of Appointment :	16.04.2008
Name :	Mr. Ajay Baldawa
Designation :	Executive Director
Name :	Mr. Manindra Nath Banerjee
Designation :	Director
Name :	Mr. Mangi Lal Jain
Designation :	Director
Name :	Ms. Plistina Dkhar
Designation :	Director
Name :	Mr. Samarendra Mitra
Designation :	Director
Name :	Mr. Santanu Ray
Designation :	Director
Name :	Mr. Asit Pal
Designation :	Director

KEY EXECUTIVES

Name :	Mr. Arun Kumar Julasaria
Designation :	Chief Finance Officer and Company Secretary
Name :	Mr. Anoop Hoon
Designation :	President -Marketing and OD
Date of Birth/Age :	57 Years
Qualification :	B.A. (Economics) PGDM (XLRI Jamshedpur)
Experience :	32 Years
Date of Appointment :	01.03.2008

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 31.12.2012

Names of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	122600297	55.18
Bodies Corporate	39329080	17.70
Sub Total	161929377	72.88
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	161929377	72.88
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	1219	0.00
Foreign Institutional Investors	2146202	0.97
Sub Total	2147421	0.97
(2) Non-Institutions
Bodies Corporate	29034391	13.07
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 Million	6762192	3.04
Individual shareholders holding nominal share capital in excess of Rs.0.100 Million	22149566	9.97
Any Others (Specify)	150043	0.07
Non Resident Indians	32827	0.01
Trusts	108750	0.05
Clearing Members	8466	0.00
Sub Total	58096192	26.15
Total Public shareholding (B)	60243613	27.12
Total (A)+(B)	222172990	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	222172990	0.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Seller of Plywood and Veneer.

PRODUCTION STATUS (31.03.2012)

Particulars	Unit	Actual Production
Plywood	CBM	124624
Venner	CBM	79735
Laminate Sheets	Nos.	2373697
Pre-Laminate Boards	SQM	1118608
Ferro Silicon	MT	8816
Power	MW	101402

GENERAL INFORMATION

No. of Employees :

4658 (Approximately)

Bankers :

· State Bank of India, Commercial Branch, N.S. Road, Kolkata-700001, West Bengal, India

· DBS Bank Limited, Kolkata Branch, Nanda Lal Basu Sarani, Kolkata - 700071, West Bengal, India

· Oriental Bank of Commerce, Park Street Branch, Park Street, Kolkata - 700016, West Bengal, India

· Corporation Bank, Brabourne Road Branch, Brabourne Road, Kolkata - 700001, West Bengal, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Term Loans
Indian Rupee Loan from Banks	16.970	41.257
Indian Rupee Loan from a Financial Institution	50.932	0.000
Foreign Currency Loan from Banks	542.557	44.815
Other Loans and Advances.
Financial Lease obligations :
- From banks	11.826	5.859
- From Bodies Corporate	21.210	36.348
Loans repayable on demand
- Cash Credit from banks (Secured)	420.524	450.485
Other Loans and Advances (Secured)
Buyers Credit from banks :
- For Capital Expenditure	39.096	34.206
- For Raw Materials	2237.797	1389.503
Total	3340.912	2002.473

Notes :

1(a) Term loan of Rs. 613.920 Millions (Nil) carries interest @ 4.07% p.a. The loan is repayable in 5 equal annual installments starting from 21st August, 2012 and is secured by hypothecation/equitable mortgage of all the moveable and immovable fixed assets pertaining to the Container Freight Stations of the Company.

(b) Term Loans of Rs. 51.421 Millions (Rs. 44.815 Millions) and Rs. 41.770 Millions. (Rs. 66.057 Millions) carry interest @ 6 month LIBOR + 7.25% p.a. and interest @ 12.25% p.a respectively. The above loans are repayable in 24 quarterly installments starting from 25th December 2009, first 16 installments of Rs. 6.200 Millions each and next 8 installments of Rs. 6.100 Millions each. The loans are secured by a first charge on fixed assets and second charge on current assets (both present and future) pertaining to the Company's Plywood Unit at Mirza, Assam.

2 Term loan of Rs. 50.932 Millions (Nil) from a financial institution carry interest rate of PLR + 1% p.a. The loan is repayable in 28 quarterly installments starting from 1st April, 2014, first 27 installments of Rs. 3.928 Millions each and next one installment of Rs. 3.944 Millions. The loan is secured by equitable mortgage of leasehold rights of land and first charge on fixed assets and second charge on the current assets (on pari passu basis) of the Company's Ferro Alloy Unit at Byrnihat, Meghalaya.

3 Finance lease obligations are secured by hypothecation of the assets purchased there against.

4 Working Capital facilities (including buyers' credit) from Banks are secured/to be secured by a first charge on the current assets and second charge on the fixed assets of the Company's of the respective units as given below :

Location	Rs. In Millions
Plywood units at Kanchowki, District - 24 Parganas (S), West Bengal; Chinnapploapuram, Gummidipoondi, Tamilnadu; Taraori, Haryana and Laminate unit at Kanchowki, District - 24 Parganas (S), West Bengal	2563.097
Ferro Alloy Unit at Byrnihat, Meghalaya	117.340
Plywood Unit at Mirza, Assam Further, the working capital facilities are also guranteed by three Directors of the Company. The above cash credit is repayable on demand and carries interest @ 12% to 14% p.a. (9% to 12% p.a)	16.980

5 Buyers credit carries interest @ Libor plus 1% to 3.5% and is repayble in 90-365 days.

Banking Relations :	--
Auditors :
Name :	S. R. Batliboi and Company Chartered Accountants
Address :	22, Camac Street, 3^rd Floor, Block ‘C’, Kolkata – 700016, West Bengal, India
Tel. No.:	91-33-66153400
Fax No.:	91-33-22817750
Subsidiary Companies :	· Cement Manufacturing Company Limited · Auro Sundram Ply and Door Private Limited · Megha Technical and Engineers Private Limited · Meghalaya Power Limited · Star Cement Meghalaya Limited · NE Hills Hydro Limited (with effect from 3rd February, 2011) · Star Ferro and Cement Limited (with effect from 10th March, 2011) · Aegis Business Limited · Aegis Overseas Limited
Associates :	· Adonis Vyaper Private Limited (with effect from 31st March, 2012) · Apnapan Viniyog Private Limited (with effect from 31st March, 2012) · Ara Suppilers Private Limited (with effect from 31st March, 2012) · Arham Sales Private Limited (with effect from 31st March, 2012)
Enterprises Owned/Influenced by Key Management Personnel or their relatives :	· Adonis Vyaper Private Limited (upto 30th March, 2012) · Apnapan Viniyog Private Limited (upto 30th March, 2012) · Ara Suppliers Private Limited (upto 30th March, 2012) · Arham Sales Private Limited (upto 30th March, 2012) · Brijdham Merchants Private Limited · Pacific Plywoods Private Limited · Shyam Century Cement Industries Limited · Sriram Merchants Private Limited · Sriram Vanijya Private Limited · Sumangal Business Private Limited · Sumangal International Private Limited

CAPITAL STRUCTURE

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
650500000	Equity Shares	Rs.1/- each	Rs.650.500 Millions
1500000	Preference Shares	Rs.10/- each	Rs.15.000 Millions
50000	Preference Shares	Rs.100/- each	Rs.5.000 Millions
	Total		Rs.670.500 Millions

Issued :

No. of Shares	Type	Value	Amount
223552990	Equity Shares	Rs.1/- each	Rs.223.553 Millions
500000	9% Cumulative Redeemable Preference Shares	Rs.10/- each	Rs.5.000 Millions
	Total		Rs.228.553 Millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
222172990	Equity Shares	Rs.1/- each	Rs.222.173 Millions
	Add : Amount received on forfeited shares		Rs.0.354 Million
500000	9% Cumulative Redeemable Preference Shares	Rs.10/- each	Rs.5.000 Millions
	Total		Rs.227.527 Millions

a) Reconciliation of the shares outstanding at the beginning and at the end of the reporting period:

Equity Shares	31st March, 2012
	No of Shares	Rs. In Millions
At the Beginning of the year	222172990	222.173
Issued during the year	-	-
Outstanding at the end of the year	222172990	222.173
Preference Shares	31st March, 2012
	No of Shares	No of Shares
At the Beginning of the year	500000	5.000
Issued during the year	-	-
Outstanding at the end of the year	500000	5.000

b) Terms/Rights attached to the Equity Shares:

The Company has only one class of equity shares having par value of Rs. 1/- per share. Each holder of equity shares is entitled to one vote per share.

The Company declares and pays dividends in Indian rupees. The Company has paid an interim dividend of Rs. 1/- per share during the year ended 31st March, 2012.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

c) Terms of Redeemable Cumulative Preference Shares :

The Company has only one class of preference shares having par value of Rs.10/- per share and carry cumulative dividend @ 9% p.a. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. Each holder of Preference Shares is entitled to one vote per share only on resolutions placed before the Company which directly affect the right attached to Preference shares.

The above cumulative Preference Shares are redeemable at par on 18-09-2012.

In the event of liquidation of the Company before redemption of Preference shares, the holder of Preference shares will have priority over equity shares in the payment of dividend and repayment of capital.

d) Aggregate no. of shares issued for consideration other than cash during the period of five years immediately preceeding the reporting date:

	31st March, 2012
	No. of Shares
Preference Shares alloted as fully paid -up pursuant to contracts for consideration other than cash	500000
Equity Shares alloted as fully paid-up pursuant to contracts for consideration other than cash	24518860

e) Details of Shareholders holding more than 5% shares in the Company:

	31st March, 2012
	No. of Shares	% holding in the class
Equity Shares of Rs.1/- each fully paid-up
Sajjan Bhajanka	24571590	11.06%
Sanjay Agarwal	23218940	10.45%
Divya Agarwal	16749750	7.54%
Santosh Bhajanka	15649500	7.04%
Prem Kumar Bhajanka	15208510	6.85%
Preference Shares of Rs.10/- each fully paid-up :
Vishnu Khemani	500000	100.00%

As per of the Company, including its register of shareholders/members, the above shareholding represents legal ownerships of shares.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		227.527	227.527	227.527
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2897.754	2556.290	2060.226
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3125.281	2783.817	2287.753
LOAN FUNDS
1] Secured Loans		3340.912	2002.473	1784.669
2] Unsecured Loans		30.000	51.820	177.880
TOTAL BORROWING		3370.912	2054.293	1962.549
DEFERRED TAX LIABILITIES		0.000	0.000	17.001
TOTAL		6496.193	4838.110	4267.303
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1743.865	1658.876	1111.062
Capital work-in-progress		132.840	36.415	36.164
Capital Expenditure on New/Expansion Projects		229.958	58.703	429.085
INVESTMENT		732.882	556.182	504.532
DEFERREX TAX ASSETS		4.038	2.145	0.000
OTHER NON CURRENT ASSETS		35.178	43.287	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1966.556	1711.704	1494.296
	Sundry Debtors	1667.412	1208.101	1059.098
	Cash & Bank Balances	420.602	109.301	155.609
	Other Current Assets	112.798	138.727	108.183
	Loans & Advances	771.699	767.562	432.722
Total Current Assets		4939.067	3935.395	3249.908
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	862.220	932.692	763.738
	Other Current Liabilities	444.255	245.241	220.777
	Provisions	15.160	274.960	78.933
Total Current Liabilities		1321.635	1452.893	1063.448
Net Current Assets		3617.432	2482.502	2186.460
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		6496.193	4838.110	4267.303

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	11183.486	8770.564	7079.093
		Other Income	41.153	158.557	450.682
		TOTAL (A)	11224.639	8929.121	7529.775
Less	EXPENSES
		Cost of Raw Materials Consumed	5688.094	4569.472
		Purchase of Traded Goods	1143.999	807.431
		(Increase)/Decrease in inventories of Finished Goods, Work in Progress and Traded Goods	(35.447)	(66.956)
		Employee Benefits Expense	943.698	752.940
		Exceptional Items	132.227	0.000
		Other Expenses	2057.734	1731.069
		TOTAL (B)	9930.305	7793.956	6245.831
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1294.334	1135.165	1238.944
Less	FINANCIAL EXPENSES (D)		399.633	135.597	130.016
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		894.701	999.568	1153.928
Less/ Add	DEPRECIATION/ AMORTISATION (F)		265.129	241.758	189.157
	PROFIT BEFORE TAX (E-F) (G)		629.572	757.810	964.771
Less	TAX (H)		28.707	12.734	155.300
	PROFIT AFTER TAX (G-H) (I)		600.865	745.076	809.471
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1786.002	1360.775	874.518
Add	PROFIT AND LOSS ACCOUNT DEBIT BALANCE TRANSFERRED FROM THE AMALGAMATING COMPANY		0.000	0.000	(1.117)
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	80.000	90.000
		Proposed Dividend on Preference shares	NA	0.450	0.450
		Proposed Dividend on Equity shares	NA	222.173	55.543
		Interim Dividend on Equity Shares	NA	0.000	166.630
		Tax on Dividend	NA	26.528	9.474
		Tax on Dividend written Back	NA	(9.302)	0.000
	BALANCE CARRIED TO THE B/S		NA	1786.002	1360.775
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	341.272	301.862	241.100
	TOTAL EARNINGS		341.272	301.862	241.100
	IMPORTS
		Raw Materials	3192.535	2513.409
		Capital goods	25.977	16.002
		Purchases of Finished Goods	224.343	44.972	NA
		Stores & Spares	6.306	9.941
	TOTAL IMPORTS		3449.161	2584.324
	Earnings Per Share (Rs.)		2.70	3.35	3.64

QUARTERLY RESULTS

PARTICULARS	30.06.2012 1^st Quarter	30.09.2012 2^nd Quarter	31.12.2012 3^rd Quarter
Net Sales	2919.000	2944.000	2882.300
Total Expenditure	2558.200	2807.900	2680.300
PBIDT (Excl OI)	360.900	136.100	202.100
Other Income	5.800	21.400	4.600
Operating Profit	366.600	157.500	206.700
Interest	132.500	121.400	122.300
Exceptional Items	(232.300)	277.500	(85.400)
PBDT	1.800	313.600	(0.900)
Depreciation	68.800	78.300	(85.100)
Profit Before Tax	(67.000)	235.300	(86.000)
Tax	(21.800)	26.400	(1.600)
Provisions and contingencies	0.000	0.000	0.000
Profit After Tax	(45.300)	208.900	(84.400)
Extraordinary Items	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000
Net Profit	(45.300)	208.900	(84.400)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	5.61	8.34	10.75
Net Profit Margin (PBT/Sales)	(%)	5.63	8.64	13.63
Return on Total Assets (PBT/Total Assets}	(%)	9.42	13.54	22.12
Return on Investment (ROI) (PBT/Networth)		0.20	0.27	0.42
Debt Equity Ratio (Total Debt/Networth)		1.08	0.74	0.86
Current Ratio (Current Asset/Current Liability)		3.74	2.71	3.06

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
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	Yes
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	Yes
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	Yes
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

UNSECURED LOAN

(Rs. In Millions)

Unsecured Loan	As on 31.03.2012	As on 31.03.2011
Loans from related parties
- From a Subsidiary Company	0.000	50.000
- From a Director	30.000	0.000
- From Bodies Corporate	0.000	1.820
Total	30.000	51.820

Note:

1. Unsecured Loan from a Director is repayable on demand and carries interest @ 8% p.a.

PERFORMANCE AND OPERATIONS REVIEW

2011-12 being the year was a year of recovery interrupted. In the year 2010-11 the challenges were many, but there was a sense that the world economy was on the mend and there was glimmer of hope. But reality turned out to be different. The sovereign debt crisis in the Euro zone intensified, political turmoil in Middle East injected widespread uncertainty, crude oil prices rose, an earthquake struck Japan and the overall gloom refused to lift. Now India is a global economy and they will be misled if they ignore the ground realities of the world. The global crisis has affected India's Gross Domestic Product (GDP) adversely. There is a significant slowdown in comparison to the preceding two years, primarily due to deceleration in industrial growth, more specifically in private investment. Rising cost of credit and weak domestic business sentiment, added to this decline. Though India has been able to limit the adverse impact of this slowdown on their economy, this year's economic performance has been disappointing. The Indian rupee depreciated significantly against the US Dollar marking a new risk for Indian economy. Till the beginning of the year under review very few had expected Rupee to depreciate with most hinting towards either appreciation or status quo in the rupee levels. Those few who had even anticipated may not have imagined the scale of depreciation with rupee touching a new low of around Rs. 54 per US Dollar.

Despite all odds year was a satisfactory year for the company. The Company continued its dominance in all its business segments and further increased its market share. Gross Income rose from Rs. 9537.500 Millions to Rs. 12024.000 Millions reflecting a growth of 26%. Profit before Tax and exceptional items (loss on account of foreign exchange difference) increased from Rs. 757.800 Millions to Rs. 761.800 Millions reflecting a growth of 1%. Net Profit after Tax was adversely impacted due to unprecedented loss on account of foreign exchange difference and was Rs. 600.900 Millions compared to Rs. 745.100 Millions in previous year, reflecting a fall of 19%.

On consolidated basis also, the Company's operations grew significantly. During the year, the Company achieved Gross Income of Rs. 17847.800 Millions against Rs. 14470.900 Millions during the previous year, reflecting a growth of over 23%. The Net Profit after minority interest and share of loss of associates was Rs. 1227.600 Millions against Rs. 1545.800 Millions in previous year. Fall in profit was primarily due to unprecedented loss on account of foreign exchange difference and sunset of transport subsidy in one of the subsidiary company.

FUTURE OUTLOOK

The global economic outlook is still very uncertain, with the risk of a renewed recession in advanced countries and widespread financial crisis growing. Further deterioration of economic crisis cannot be ruled out and it won't be a good news for emerging economies including India. However, they expect current scenario to be a temporary scenario. Considering strong fundamentals India enjoys, India is well positioned to outperform. Despite all odds, it is also a fact that in any cross country comparison, India still remains among the front runners in economic growth. If India can continue to build on its economic strength, it can be a source of stability for the world economy and provide a safe destination for restless global capital.

The rupee movement will be dictated by the capital flows and rising current account deficit and will be both ways. Movement in rupee will remain a major concern. Although GAAR and reversal of Vodafone judgement are likely to remain an issue, foreign investment inflow, which gathered pace since the beginning of 2012, is likely to continue. The fact that, despite a slowdown, the Indian economy's expected growth of 7% in 2012-13, will make India much more attractive destination of investment than elsewhere in the world.

Provision of quality and efficient infrastructure is essential to accelerate growth and utilize full potential of the emerging Indian economy. In India, escalating infrastructure expenditure is inevitable. The rapid growth of economy has put a lot of strain on infrastructure like road, railways, power, ports, airports, water supply and housing. The pattern of inclusive growth projected for the 11th plan, with GDP growth averaging 9% per annum can be achieved only if this infrastructure deficit is overcome and adequate investment are in place to support the growth. What they need is an improved quality of life for both their urban and rural populace. With the Government's continued focus on infrastructure development, it seems very probable that the country's economic survival will be driven by infrastructure growth, which in turn will accelerate real estate activities.

The Indian real estate sector plays a significant role in the country's economy. The real estate sector is second only to agriculture in terms of employment generation and contributes considerably towards GDP. Almost 5% of the country's GDP is contributed by the housing sector, which is expected to rise to 6%. According to the 10th five year plan, there is a shortage of 22.4 million dwelling units. Thus, over the next 10 to15 years 80 to 90 million dwelling units will have to be constructed. According to a study, the real estate market in India is expected to grow rapidly due to improvement in affordability, better job security and availability of housing finance.

Since cement, plywood, laminate and steel related products are essential part of construction right from initial brick and mortar stage to final stage of furnishing, the demand for these products is directly related to the growth of infrastructure and real estate sector. With continued government focus on infrastructure and real estate sector the demand for Company's products is expected to remain buoyant. With strong and preferred "Centuryply" brand under its fold, the Company is expected to perform better in current fiscal.

FUTURE PLANS OF EXPANSION

Considering buoyant demand for the products and marketing strength of "Centuryply" brand, the Company has plans for capacity expansions through organic and inorganic routes. The Company is now setting up a green-field plywood unit in Gujarat, production from which is expected in current financial year. The Company is also entering into ready-made furniture business, initially with trading format and two mega show rooms at Kolkata and Bangalore. The Company is also planning to promote a green-field Medium Density Fiber Board and Particle Board Unit in Andhra Pradesh.

The Company is continuing its focus on logistic service sector. The two Container Freight Stations (CFS) ofthe Company near Kolkata Port are already operational. The combined capacity of these two CFS is 1,30,000 TEUs per annum, which is almost 2/3rd of total CFS capacity available at Kolkata Port. The Company is exploring further possibilities in logistic service sector.

The subsidiaries of the Company are also having ambitious growth plans. CMCL along-with its subsidiaries is expanding its cement manufacturing capacity from 1.20 million MT to 2.80 million MT per annum, with adequate captive power capacity.

MANAGEMENT DISCUSSION AND ANALYSIS

INDUSTRY STRUCTURE AND DEVELOPMENT

The projected growth of Company's products (Plywood, Laminates, Cement and Ferro Alloys) is based on the push-and-pull effects of supply and demand determinants like the economic trends in India, growth of infrastructure and housing.

Home is an invention on which no one has yet improved. Of all aspirations known to humankind, owning a home is most basic. It is the basic infrastructure required for development of a country and its citizens. Housing is a highly sensitive investment area throughout the world. Investment in this sector is often recognized as a barometer to measure the health of an economy at any point of time. The extreme sensitivity of the housing sector on the overall economic growth is not difficult to explain. The sector, by the nature, is widely linked with a very large number of manufacturing segments. There are about 250 industries, large and small, which depend on what happens in the housing and construction business. This includes large ones that make cement and steel, medium ones that make plywood, paint, tiles, electrical and the small ones that make nuts and bolts. These linkage effects not only stimulate production and investments in the linked segments of manufacturing, they also push up the aggregate additional income generated in the process. In short, growth in housing stimulates production and overall growth in the economy.

In developed countries like United States 72.5% of citizens own their homes. While 69% live in their own homes in the UK. If they aspire to become a developed nation by the year 2020, they must ensure a decent home for each family of their country. According to the 10th five year plan, there is a shortage of 22.4 million dwelling units and over the next 10 to15 years 80 to 90 million housing dwelling units will have to be constructed. According to Confederation of Real Estate Developers Association of India (CREDAI) India's total housing requirement can be estimated at 200-225 million housing units, out of which they have just 170 million. They will have to create additional 30 million to meet gap. Further next 15-20 years will create an additional demand for 70 million houses. So, by year 2020 they are to gear up to build 100 million additional houses. A daunting target, but achievable. It is achievable because almost all Indians have capacity to buy a reasonable home. All Indians, not owning their own home are already paying rent on their accommodation. Even if they are living in slums, they are paying rent to their slumlords. The EMI of housing loan today is either equal or not substantially more than the rent one has to pay for rented house. The rent one pays is an expense that once paid is lost, whereas the EMI is payment for creation of an asset, value of which will multiply with passage of time. Anyone who lives in a rented apartment will be unable to afford rent after 20 years as the rent will keep on increasing year to year. Anyone who acquire house on EMI will have a home of his own by parting with almost same money, but with multifold asset value. Availability of easy home loans at reasonable interest rates has propelled growth of housing. Although rising interest rates may adversely affect housing but that can be considered temporary. In long run housing sector growth is bound to prop.

Provision of quality and efficient infrastructure is essential to achieve growth and utilize full potential of the emerging Indian economy. Economic and population growth place additional pressure on existing infrastructure facilities and unless they are developed further to cope growth, they become constraint to development. Hence, given the importance of infrastructure for growth, the 12th plan period has pegged the investment in infrastructure at Rs. 50 trillion. In order to improve the flow of funds to the infrastructure sector, a host of measures are announced in the budget. Tax-free bonds of Rs. 600 billion will be allowed for infrastructure projects in 2012-13, while India Infrastructure Finance Company Limited has established a structure for credit enhancement and take out finance to ease access of credit to various infrastructure projects. One of the primary vehicle of the Government to address infrastructure insufficiencies in the urban areas is the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) whose allocation has almost trebled to Rs. 880 million in 2012-13, as compared to the revised estimate of 2011-12. With the Government's continued focus on infrastructure development, it seems very probable that the county's economic survival will be driven by infrastructure growth.

Plywood and Laminate Segment

In view of potential growth of housing and infrastructure, the overall demand for Plywood and Laminates is expected to remain buoyant. The Indian plywood and panel market is estimated around Rs. 120000.000 Millions, with expected growth of 15% year on year basis. The market is highly fragmented, with unorganized sector controlling major market share. The organized segment is highly concentrated, with only few players constituting around 30% of the market. The unorganized segment has advantages in terms of excise waivers and other benefits due to their SSI status. In the year 2007-08 the excise duty on plywood related products was reduced by half to 8% and is now pegged at 10%. Narrowing excise differences and the eligibility to claim MODVAT benefits on inputs have put the organized sector not only at par compared to the unorganized sector, but also in an advantageous position due to volume, quality and the brand. Now the growth of organized sector is estimated to be 20-25% compared to the overall market growth of 15%. Organized sector growth will partly come from conversion of some of unorganized sector players as organized sector players.

Cheap imported products particularly Chinese products may eat away organized sector market and hence slow down company's growth. Emergence of new organized players will increase competition in organized sector.

The Company is India's leading plywood manufacturing Company with a very strong brand image. "CENTURY PLY" - the brand name under which the Company markets its products is known for quality. The Company manufactures entire range of products, catering to different cost segments. Over the years the Company had invested heavily on brand building and maintained customer faith by providing guarantee on its products. The Company could ward off competition from other players and imported products due to these reasons and expect to sustain its growth levels and continue to command market dominance. The Company, with its five existing units (including one of Subsidiary's) and one proposed unit spread over different geographical locations of the country is ready to meet present and future demand of the products across the country with a huge logistical advantage. The Company is prepared to meet increased demand through organic expansions at its existing units and will also be open to inorganic growth through mergers and acquisitions. Future expansions will be synchronized with the demand.

Laminate is used to provide aesthetic look to plywood. Its market scenario goes along-with plywood market scenario. Like plywood, Company is aspiring to achieve utmost customer confidence for its laminates and as such is focusing more on quality then quantity. The 100% capacity expansion of laminate division already in progress and expected to be operational within current financial year.

Ferro Alloy

In view of potential growth of housing and infrastructure, the overall demand for Ferro Alloy which is one of the ingredients of steel is expected to remain buoyant.

Ferro Alloy market is dependent on steel market and witnessed short cycles of boom and bust, which can happen more than once in one financial year. During boom period demand is at peak and industry makes handsome profit. When demand dampens the price of product comes down and it becomes unviable to keep production on.

The company's ferro alloy unit is situated in Meghalaya, where there is abundant availability of raw material. The only problem which can disrupt production is availability of power, as production process of ferro alloy is highly power intensive and supply of power in Meghalaya is not comfortable. In order to combat this problem, the Company has installed a captive power plant to ensure un-interrupted production. When the demand of ferro alloy dampens, the company stops ferro alloy production and start to sell power generated out of its captive power unit. This helps Company to recover its overheads and ensure overall yearly performance of the ferro alloy division.

Cement

In view of potential growth of housing and infrastructure, the overall demand for Cement, which is basic to any construction project, is expected to remain tilted towards demand.

The Company's major subsidiary Cement Manufacturing Company Limited (CMCL), along with its subsidiaries, has the cement and clinker units situated at Lumshnong in Meghalaya. CMCL sells its cement under the brand name 'STAR CEMENT'. STAR CEMENT is today the leading and the highest selling cement brand in the North Eastern part ofthe country. This unit has the advantage of its own captive lime stone mines and is situated at a close proximity of large reserves of coal at a distance of only 25 kms. CMCL's lime stone mines has reserves of 300 Million Tonnes, enough to meet all its' raw material requirements (based on expanded capacity) for the next 70 years. The unit is also entitled to various fiscal incentives as per the North East policy of the Central Government and the State Government. The unit uses state of the art dry process rotary kiln technology and manufactures high grade Ordinary Portland Cement (OPC), Pozzoland Portland Cement (PPC) and other specialty grades required for infrastructure projects.

Cement is a highly localized/regionalized industry due to its unique characteristic of being a bulky but low value product. Proximity to either source of raw material (limestone) or end market is imperative to keep cost of end product (cement) competitive. Overall cement market of north east is estimated to bea5 MTPA against which the total cement production in north east is 3 MTPA, with the deficit being met from outside north east. This demand supply mismatch and high logistic cost of bringing cement from outside north east has resulted in north east being a high price-end market. Based on the developments envisaged to take place in the North Eastern region the cement demand in the region is expected to grow at a CAGR of 12-15% per annum. A big spurt in demand is also expected after two years when many of the Hydel Power Plants will be launched in the North East, particularly in Arunachal Pradesh. At present CMCL cement unit is the biggest cement unit of north east and has twin advantage of proximity to raw material and close proximity to the highest price-end market. On comparison of peers it is found that CMCL EBIDTA margin has been highest in the industry.

The present combined capacity of CMCL and its subsidiaries is now 1.20 MTPA of Cement. CMCL is also adding further 1.75 MTPA Clinker capacity, through its wholly owned subsidiary Star Cement Meghalaya Limited. The clinker so produced will be taken to CMCL's proposed grinding units at Guwahati (Assam). After effecting these expansions CMCL cement production capacity will go up from present 1.20 MTPA to 2.80 MTPA. The projects are under implementation and are expected to commence production within the current financial year. Meghalaya Power Limited is setting up a 51 MW Power plant, which will be a captive power plant to its existing as well as planned clinker unit of SCML. The grinding units at Guwahati will also have captive power plant of adequate capacity.

Cement is considered to be a cyclical industry. Addition of new capacities particularly in north east may tilt industry more towards supply situation. Cement is highly capital intensive and fairly long gestation industry. The expansion plans may make the Company very high leveraged to face any demand set back.

With strong brand image and early mover advantages, the Company does not expect to face any problem in near and fairly distant future.

Logistic

The ports and international cargo handling facility are important part of physical infrastructure of a country. Ports and cargo handling facilities play a crucial role in facilitating India's international trade. India with a coastline of 7,517 km is added with 12 major ports and 60 non-major ports, which handle traffic. Average turnaround time of Indian ports is 3.5 days compared to 10 hours in Hong Kong. This high turnaround time undermines the competitiveness of Indian Ports. Congestion at ports is primarily due to the slow evacuation of cargo rather than a lack of handling facility. More than half of the world's traded goods are containerized and this is expected to increase further. In order to decongest ports it is imperative that dwelling time of containers at ports is decreased by developing Container Freight Stations (CFS), where containers can be moved after maximum decided dwelling time. In order to decongest congested Kolkata Port the Kolkata Port Trust is encouraging development of CFS.

The Company ventured into CFS business in the year 2008, when it was allotted approx 1 lac square meter land near port by Kolkata Port Trust for developing same as CFS. In view of the heavy congestion at the Kolkata Port and the emerging opportunity in this sector the Company established a full fledged logistic division to develop this business segment. The Company's two first private sector state of the art CFS (consisting of approximately 1,00,000 sq meter area) are already operational and can handle 1,30,000 containers of 20 feet each annually. This capacity is approximately 2/3rd of total container handling capacity of Kolkata Port.

The logistic business of the Company is related to infrastructure and service sector. The business may face problem only on slow down of economy and substantial reduction in import cargo. Entry of new players may expose the company to competition. In view of prevailing congestion at Kolkata Port Trust and expected increase in traffic with availability of limited CFS facility the Company does not expect to face any problem in near and fairly distant future.

SEGMENT-WISE OR PRODUCT-WISE PERFORMANCE

Plywood

The turnover of Plywood segment was up from Rs. 6577.500 Millions in 2010-11 to Rs. 8551.400 Millions in 2011-12 showing growth of over 30%. This is mainly due to improved demand, Company's strong brand image and marketing strategies.

Laminates

Laminate division also performed quite well. The Company's focus remained to grab premium market share. The 'CENTURYLAMINATES' the brand under which Company's laminates are being sold is today a symbol of quality and is attaining consumer preference. The turnover of Laminate segment was up from Rs. 1392.100 Millions in 2010-11 to Rs. 1973.000 Millions in 2011-12 showing growth of 42%.

Ferro Alloys and Power

Ferro Alloys segment posted a turnover of Rs. 629.500 Millions in 2011-12 against Rs. 791.100 Millions in 2010-11 while Power segment posted a turnover of Rs. 374.200 Millions against Rs. 411.400 Millions last year.

Cement

The cement capacities run by Company's subsidiaries also posted impressive performance. The turnover increased from Rs. 4882.100 Millions to Rs. 5696.400 Millions showing growth of over 17%. Segment profit however reduced from Rs. 1133.400 Millions to Rs. 1105.200 Millions.

Logistics

Logistics division also performed quite well. During current financial year this segment recorded a turnover of Rs. 547.200 Millions as against Rs. 338.300 Millions last year showing growth of 62%. Profit from this segment also increased phenomenally from Rs. 76.700 Millions to Rs. 188.500 Millions showing growth of over 146%.

OUTLOOK

The Company's and its subsidiaries' products are Plywood, Laminates, Cement and Ferro Alloys, demand for which is linked to infrastructure and real estate sector. In view of improved economic situation and the Government's thrust towards infrastructure and real estate activities, the Company is hopeful to achieve better results and attain growth. With modern plants, latest technologies, and precious brands the products of the Company are positioned to fully exploit emerging opportunities.

FIXED ASSETS:

Tangible Assets

· Land and Site Development

· Factory Building

· Non-Factory Building

· Storage Yard on Leasehold Property

· Plant and Machinery

· Electrical Installations

· Furniture and Fixture

· Office Equipments

· Computers

· Vehicles

Intangible Assets

· Computer Software

· Trade Mark

· Patent Rights

· Goodwill

Statement of Unaudited Financial results for the Quarter/Nine Months ended 31st December 2012

(Rs. In Millions)

SL. NO.	PARTICULARS	STANDALONE
		Quarter Ended	Quarter Ended	Nine Months Ended
		31.12.2012	30.09.2012	31.12.2012
		Unaudited	Unaudited	Unaudited
1	Income from Operations	3082.797	3167.852	9406.389
	Less: Excise Duty	253.690	243.328	754.758
	(a) Net Sales/Income from Operations (Net of Excise Duly)	2829.107	2924.524	8651.631
	(b) Other Operating Income	53.218	19.468	93.695
	Total Income from operations (Net)	2882.325	2943.992	8745.326
2	Expenses
	a. Cost of materials consumed	1599.599	1631.127	4711.641
	b. Purchases of stock-in-trade	281.722	343.382	935.809
	c. Changes in inventories of finished goods, work-in-progress and stock-in-trade	(27.657)	(156.533)	(253.438)
	d. Employee benefits expense	295.527	305.472	873.717
	e. Depreciation and amortisation expense	85.061	78.304	232.188
	f. Other expenses	531.049	684.442	1778.546
	Total Expenses	2765.301	2886.194	8278.463
3	Profit from operations before other income, finance costs and exceptional items (1-2)	117.024	57.798	466.863
4	Other Income	4.639	21.402	31.796
5	Profit from ordinary activities before finance costs and exceptional items (3+4)	121.663	79.200	498.659
6	Finance costs	122.250	121.354	376.129
7	Profit/ (Loss) from ordinary activities after finance costs but before exceptional items (5-6)	(0.587)	(42.154)	122.530
8	Exceptional Items	85.403	(277.470)	40.227
9	Profit/ (Loss) from ordinary activities before tax (7+8)	(85.990)	235.316	82.303
10	Tax expense	(1.618)	26.385	2.989
12	Net Profit/ (Loss) from ordinary activities After Tax (9-10)	(84.372)	208.931	79.314
12	Extraordinary Items	-	-	-
13	Net Profit/ (Loss) for the period (11-12)	(84.372)	208.931	79.314
14	Share of Profit/(Loss) of associates	-	-	-
15	Minority interest	-	-	-
16	Net Profit/ (Loss) after taxes, minority interest and shares of profit/ (Loss) of associates (13-14-15)	(84.372)	208.931	79.314
17	Paid up Equity Share Capital (Face Value f. 10/- per equity share)	222.527	222.527	222.527
18	Reserves excluding Revaluation Reserve
19	Earnings Per Share (EPS) before and after extraordinary items (of Rs. 10/- each) (not annualised) Rs.	(0.38)	0.94	0.36

Select Information for the Quarter/Nine Months ended 31st December 2012

(Rs. In Millions)

A.	PARTICULARS OF SHAREHOLDING	STANDALONE
		Quarter Ended	Quarter Ended	Nine Months Ended
		31.12.2012	30.09.2012	31.12.2012
		Unaudited	Unaudited	Unaudited
1	Public Shareholding
	- Number of Shares	60243613	60243613	60243613
	- Percentage of Shareholding	27.12	27.12	27.12
2	Promoters and Promoter Group Shareholding
	a) Pledged/Encumbered
	- Number of shares	3000000	3000000	3000000
	- Percentage of shares (as a % of the total shareholding of promoter and promoter group)	1.85	1.85	1.85
	- Percentage of shares (as a % of the total share capital of the company)	1.35	1.35	1.35
	b) Non-Encumbered
	- Number of shares	158929377	158929377	158929377
	- Percentage of shares (as a % of the total shareholding of promoter and promoter group)	98.15	98.15	98.15
	- Percentage of shares (as a % of the total share capital of the company)	71.53	71.53	71.53

B	INVESTOR COMPLAINTS	Nine months ended 31st December 2012
	Pending at the beginning of the quarter	Nil
	Received during the quarter	Nil
	Disposed of during the quarter	Nil
	Remaining unresolved at the end of the quarter	Nil

Unaudited Segment-wise Revenue, Result and Capital Employed for the Quarter/Nine Months ended 31^st December, 2012

(Rs. In Millions)

		STANDALONE
SI. NO.	PARTICULARS	Quarter Ended	Quarter Ended	Nine Months Ended
		31.12.2012	30.09.2012	31.12.2012
	SEGMENT RESULTS	Unaudited	Unaudited	Unaudited
1	Segment Revenue (Net)
	(a) Plywood and Allied Products	1989.776	2059.240	6055.529
	(b) Laminate and Allied Products	553.349	489.690	1546.110
	(c) Logistic	-	-	-
	External Sales Revenue	142.565	147.325	444.455
	Inter Segment Revenue	1.732	3.310	6.189
	(d) Ferro Alloys	73.215	158.255	406.321
	(e) Power	-	-	-
	- External Sales Revenue	-	-	-
	- Inter Segment Revenue	32.507	81.991	215.539
	(f) Cement	-	-	-
	(g) Others	-	-	-
	- External Sales Revenue	70.202	70.014	199.216
	- Inter Segment Revenue	2.923	6.211	13.422
	Total Segment Revenue	2866.269	3016.036	8886.781
	Less : Inter Segment Revenue	37.162	91.512	235.150
	Net Sales/Income from Operations	2829.107	2924.524	8651.631
2	Segment Results (Profit/(Loss) Before Tax & Finance Cost)
	(a) Plywood and Allied Products	(40.352)	226.060	218.017
	(b) Laminate and Allied Products	70.321	49.484	169.969
	(c) Logistic	40.126	54.872	151.553
	(d) Ferro Alloys	10.889	(13.858)	(12.879)
	(e) Power	(10.734)	11.293	0.625
	(f) Cement	-	-	-
	(g) Others	(11.092)	0.351	(15.886)
	Total	59.158	328.202	511.399
	Less : Finance Cost	122.250	121.354	376.129
	Add : Unallocable (Expenses)/Income net of unallocable Income/expenses	(22.898)	28.468	(52.967)
	Total Profit/(Loss) Before Tax	(85.990)	235.316	82.303
3	Capital Employed (Segment Assets less Segment Liabilities)
	(a) Plywood and Allied Products	3598.027	3810.825	3598.027
	(b) Laminate and Allied Products	1387.640	1171.050	1387.640
	(c) Logistic	676.257	707.304	676.257
	(d) Ferro Alloys	447.191	440.440	447.191
	(e) Power	216.376	178.479	216.376
	(f) Cement	-	-	-
	(g) Others	123.688	70.668	123.688
	Total	6449.179	6378.766	6449.179

1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 1st February, 2013.

1. The company has treated loss/gain arisen on account of foreign exchange fluctuations and on re-instatement of forex assets and liabilities as on 31st December, 2012, except exchange difference to the extent considered as an adjustment to borrowing costs, as exceptional item, since the same has resulted from exceptionally volatile global market developments during the quarter and nine months ended 31st December, 2012. The company has re-instated all its long term and short term liabilities in conformity with Accounting Standard-11. The company has not entered into any foreign currency transaction which is speculative in nature.

2. Foreign exchange lossVgain towards creditors/debtors pertaining to specific segments had been considered earlier as unallocable expenditure/income and the same was referred by the auditors in their report for the year ended 31st March, 2012 and subsequent limited review reports for the quarter ended 30th June,2012 and 30th September,2012. From the current quarter, the said loss/gain has been included in specific segment and accordingly the previous period figures have been regrouped.

3. The Board of Directors of the Company had decided to demerge the business and interest of the Company in manufacture of Ferro-Alloys and Cement including captive power plants attached thereto by transferring the same to a wholly owned subsidiary namely Star Ferro and Cement Limited through a scheme of arrangement w.e.f. 1st April, 2012, subject to necessary approvals. Pending such approvals, no accounting adjustment thereof has been made in the above results.

AS PER WEBSITE DETAILS:

PRESS RELEASES

Century Plyboards (India) Limited declares financial result for the first quarter of the year 2011 – 12: Turnover and Net Profit increases by 35%

Result Highlights:

1. Turnover of the company increases by 35%

2. Net profit also increases by 35%

3. Earning per share increases from Rs. 0.77 to Rs. 1.04

Kolkata, 20.07.2011… Century Plyboards (India) Limited, the leading  plywood and veneer manufacturing company in India, today declared the financial results for the first quarter of the financial year 2011 – 12, ended on June 30^th 2011.

Standalone – The net profit has increased from Rs. 170.700 millions to Rs. 231.200 millions marking a significant increase of more than 35% over the last quarter in 2010 -11. The turnover of the company has increased from Rs. 2335.200 millions to Rs. 3143.300 millions registering a stupendous increase of around 35%.

Consolidated - The net profit has increased from Rs. 514.400 millions to Rs. 537.000 millions an increase of 4.38%. The Turnover has increased from Rs. 3583.900 millions to Rs. 4822.700 millions, registering an increase of 34.57%. The EPS has increased from Rs. 1.86 to Rs. 1.95.

The company has fared extremely well in the first quarter of this financial year and the team continues the spirit of surging ahead in this Silver Jubilee year of the company.

All the expansion plans chalked out by the company is going ahead in full swing. The company is expanding its plywood and veneer capacity by 30,000 CBM by setting up the plant at Kandla, Gujarat. This will take the total plywood installed capacity from current 122,420 CBM to 152,420 CBM. There will be expansion in the production of laminate capacity by 1.2 million sheets from current 2.4 million sheets at the existing unit at Joka, Kolkata. This will take the total laminate installed capacity to 3.6 million sheets. The Pre-Laminated Boards capacity at the Chennai plant will be doubling from the current capacity of 800,000 sqm to 1,600,000 sqm. The plan to set up a fiber board plant at Nellor, Andhra Pradesh is also in the progress.

The expansion plan to increase cement capacity from 1.2 MT to 4.4 MT is under progress. The expansion plan includes new clinker unit of 1.75MT, grinding units with capacity of 1.6MT each at Guwahati and at Kahalgaon.

About Century Plyboards (India) Limited:

Century Plyboards (I) Limited, makers of the well-known ‘Centuryply’ brand of Plywood and decorative veneers, was set up in 1986 in Kolkata, a joint effort of Mr. Sajjan Bhajanka and Mr. Sanjay Agarwal. The largest seller of plywood and decorative veneers in the Indian organized plywood market, Centuryply today is the leading brand and in its short duration of existence has created a special niche for itself in the industry.

Century Plyboards (India) Limited believes in being “first” in whatever it does. Century Plyboards (India) Limited has the distinction of becoming the first ISO 9002 company in India for Veneer and Plywood. It has recently joined CII (Confederation of Indian Industries) and Indian Green Business Council as a founder member to promote the green building movement in India.

The Brand CenturyPly

Century Ply has repositioned the brand in the Lifestyle Products segment, breaking away from the concept of utility products. The product category of decorative veneer and laminates are becoming lifestyle statements and the end user can wear the brand. To pioneer in this category and create a niche for itself, the traditional way of advertising or making associations around the Brand was the way forward and Centuryply chose the glamorous entertainment industry of Bollywood to create those associations.

2011 is a glorious year for Centuryply as this is the Silver Jubilee Year, Ply Turns Silver, a very proud moment for all Centurions. It seems like yesterday that the company started and in less than a decade became the industry leader. Today sitting on the silver throne the dream is to reach out to the golden era and centuries of celebration of being the undaunted leader. After establishing a leadership position in plywood it is now moving ahead to become the leader in laminates and decorative veneers as the ‘Inspiration in Interiors’, a complete solution provider.

Centuryply has, over the years, maintained a consistent growth rate and has received accolades from every nook and corner. Centuryply was adjudged the Fastest Growing Company with the Highest Turnover by the famous Journal ‘Construction World’ 7 times in a row, listed amongst the top companies by Economic Times, Dalal Street, Dun and Bradstreet and Business World.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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.53.14
UK Pound	1	Rs.83.27
Euro	1	Rs.71.94

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		63

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	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.