MIRA INFORM REPORT

 

 

Report No. :

331886

Report Date :

14.07.2015

 

IDENTIFICATION DETAILS

 

Name :

CENTURY PLYBOARDS (INDIA) LIMITED

 

 

Registered Office :

6, Lyons Range, Kolkata – 700 001, West Bengal

Tel. No.:

91-33-22104321

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

05.01.1982

 

 

Com. Reg. No.:

21-034435

 

 

Capital Investment / Paid-up Capital :

Rs.222.527 million

 

 

CIN No.:

[Company Identification No.]

L20101WB1982PLC034435

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALC04599A

 

 

PAN No.:

[Permanent Account No.]

AABCC1682J

 

 

Legal Form :

Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Subject is primarily engaged in manufacturing and sale of Plywood, Laminates, Decorative Veneers, Pre-Laminated Boards and Flush Doors and also engaged in providing Container Freight Station Services.

 

 

No. of Employees :

Approximately 6333 (As on 31.03.2014)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (62)

 

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 11074000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject was established in the year 1982 and it is a manufacturer and seller of plywood and veneer. Subject is a well-established company having fine track record.

 

For the financial year ended 2015, company has reported healthy operational performance and it has achieved topline growth of 21.87% and maintained profitability margins at 9.64%. 

 

Rating reflects company’s established market position in the plywood industry supported by sound financial risk profile and adequate balance between trade receivables to its payables.

 

However, rating strengths are partially offset by susceptibility to volatility in foreign exchange (forex) rates, and exposure to intense market competition in a fragmented and cyclical industry.

 

Trade relations are reported as fair. Payments are reported to be regular and as per commitment.

 

In view of adequate business profile backed by sound financial base, 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long Term Rating: A-

Rating Explanation

Adequate degree of safety and low credit risk

Date

29.05.2015

 

 

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 31-03-2013.

 

INFORMATION DECLINED

 

Management non-cooperative

 

(Tel. No.: 91-33-39403950)

 

LOCATIONS

 

Registered Office:

6, Lyons Range, Kolkata – 700 001, West Bengal, India

Tel. No.:

91-33-22104321/ 22/ 23/ 24/ 25/  26/ 39403950

Fax No.:

91-33-22483539

E-Mail :

naveen.lohia@centuryply.com

sundeepj@centuryply.com

kolkata@centuryply.com

Website :

http://www.centuryply.com

 

Headquarter :

4, Fairlee Place, 2nd Floor, Kolkata – 700 001, West Bengal, India

 

 

Factory 1:

Plywood and Veneer Unit and Laminate Unit

Diamond Harbour Road, Kanchowki, Bishnupur, District: 24 Parganas (S), West Bengal, India

Tel. No.:

91-33-24709680/ 9155/ 9157

 

 

Factory 2:

Plywood and Veneer Unit

Rambha Road, Taraori , Haryana, India       

 

 

Factory 3:

Plywood and Veneer Unit

Village: Moti Chirai, Taluka: Bhachau-Kachchh, Gujarat, India

 

 

Factory 4:

Plywood and Veneer Unit

Mirza Palasbari Road, Kamrup, Assam, India

 

 

Factory 5:

Plywood and Veneer Unit

Chinnappolapuram, Gummidipoondi, Tamilnadu, India

 

 

Container Freight Station 1:

Block B & C, Sonai Khidderpore, Kolkata – 700 088, West Bengal, India

 

 

Container Freight Station 2:

Hide Road, Brace Bridge, Khidderpore Kolkata – 700 088, West Bengal, India

 

 

Branch Office :

Located at:

 

North Zone

·         Delhi

·         Lucknow

·         Gurgaon

·         Jaipur

·         Chandigarh

·         Ghaziabad

·         Indore

·         Udaipur

·         Bhopal

·         Jabalpur

 

·         South Zone

·         Chennai

·         Bangalore

·         Coimbatore

·         Hubli

·         Hyderabad

·         Kochi

 

·         East Zone

·         Patna

·         Kolkata

·         Guwahati

·         Raipur

·         Ranchi

 

·         West Zone

·         Mumbai

·         Nagpur

·         Ahmedabad

·         Pune

·         Surat

·         Nashik

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Sajjan Bhajanka

Designation :

Chairman

Date of Birth/Age :

62 Years

Qualification :

B.Com

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 :

53 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 :

62 Years

Qualification :

Science Graduate 

Date of Appointment :

16.04.2008

 

 

Name :

Mr. Vishnu Khemani

Designation :

Managing Director

 

Name :

Mr. Ajay Baldawa

Designation :

Executive Director

 

Name :

Mr. Mangi Lal Jain

Designation :

Director

 

Name :

Mr. Manindra Nath Banerjee

Designation :

Director

 

Name :

Mr. Samarendra Mitra

Designation :

Director

 

Name :

Mr. Santanu Ray

Designation :

Director

 

Name :

Mr. Asit Pal

Designation :

Director

 

Name :

Mrs. Mamta Binani

Designation :

Director

 

 

KEY EXECUTIVES

 

Name :

Mr. Arun Kumar Julasaria

Designation :

Chief Finance Officer

 

Name :

Mr. Sundeep Jhunjhunwala

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.06.2015

 

Category of Shareholders

 

No. of Shares

Percentage of Holding

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

123605771

55.63

http://www.bseindia.com/include/images/clear.gifBodies Corporate

39329080

17.70

http://www.bseindia.com/include/images/clear.gifSub Total

162934851

73.34

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

162934851

73.34

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

6725811

3.03

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

211979

0.10

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

19616989

8.83

http://www.bseindia.com/include/images/clear.gifSub Total

26554779

11.95

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

17634257

7.94

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs.0.100 million

10286231

4.63

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs.0.100 million

3914252

1.76

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

848620

0.38

http://www.bseindia.com/include/images/clear.gifTrusts

871

0.00

http://www.bseindia.com/include/images/clear.gifClearing Members

206942

0.09

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

640807

0.29

http://www.bseindia.com/include/images/clear.gifSub Total

32683360

14.71

Total Public shareholding (B)

59238139

26.66

Total (A)+(B)

222172990

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

222172990

0.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is primarily engaged in manufacturing and sale of Plywood, Laminates, Decorative Veneers, Pre-Laminated Boards and Flush Doors and also engaged in providing Container Freight Station Services.

 

 

Products/ Services :
  • Plywood
  • Laminate
  • Chemicals
  • Minerals
  • Readymade Furniture
  • CFS Services

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality

Delivery Behaviour

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Approximately 6333 (As on 31.03.2014)

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

·         Punjab National Bank

·         Corporation Bank

·         Allahabad Bank

·         DBS Bank Limited

 

 

Facilities :

Secured Loans

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Term Loans

 

 

Indian Rupee Loan from Banks

NA

637.511

Foreign Currency Loan from Banks

NA

536.393

Other Loans and Advances.

 

 

Financial Lease obligations :

 

 

- From banks

NA

5.926

- From Bodies Corporate

NA

0.000

SHORT TERM BORROWINGS

 

 

Loans repayable on demand :-

 

 

- Cash Credit from banks

NA

1139.816

Other Loans and Advances

 

 

Buyers Credit from banks :

 

 

- For Capital Expenditure

NA

137.042

- For Raw Materials

NA

2002.086

Total

NA

4458.774

 

Notes:

 

LONG TERM BORROWINGS

 

1 (a) Term Loan of Rs.843.750 million from a Bank carries interest @ base rate plus 0.50% p.a., presently @10.50% p.a. The loan is repayable in 15 equal quarterly installments of Rs.56.250 million each by 31st December, 2017 and is secured/to be secured by first charge over all fixed assets of plywood units at Mirza, Assam; Bishnupur, Kanchowki, Dist. 24 Paraganas(S), West Bengal; Taraori, Haryana; and Chinnappolapuram, Gummidipoondi, Tamilnadu, and by way of a second charge on entire current assets (both present and future) of the Plywood Division of the Company. The above loan is further secured by personal guarantees of three directors of the Company.

 

1 (b) Foreign currency term loan of Rs.432.720 million carries interest @ 4.07% p.a. The loan is repayable in 3 equal annual installments by 21st August, 2016 and is secured/to be secured by hypothecation/ equitable mortgage of all the moveable and immovable fixed assets pertaining to the Container Freight Stations of the Company. Further, three promoters have pledged in aggregate 110 lacs shares of the Company as security against the loan.

 

1 (c) Foreign currency term loan of Rs.297.496 million carries interest @ 6 months LIBOR +3.50% p.a. The loan is repayable in 24 equal quarterly instalments starting from June, 2014 and is secured /to be secured by first charge on all the fixed assets pertaining to the Plywood Unit at Bacchau, Gujarat and second charge on all the current assets of the Plywood Division of the Company on pari-passu basis with other term lenders.

 

1 (d) Term Loans of Rs.43.161 million carry interest @ 11.90% p.a. The above loans are repayable in 7 quarterly installments by 25th December, 2015. The loans are secured/to be 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. Finance lease obligations are secured by hypothecation of the assets purchased there against and carries interest between 9.64% to 11.25% p.a. The gross investment in lease i.e. lease obligation plus interest is payable in equal monthly installments ranging between Rs.0.067 million to Rs.0.604 million.

 

SHORT TERM BORROWINGS:

 

1 (a) Cash Credit and Buyer’s Credit from banks amounting to Rs.3278.944 million are secured / to be secured by way of first charge on current assets (both present and future) of the Company and by way of second charge on the fixed assets of the plywood units at Mirza, Assam; Bishnupur, Kanchowki, District 24 Paraganas(S), West Bengal; Taraori, Haryana; Chinnapploapuram, Gummidipoondi, Tamilnadu and Bacchau, Gujarat.

 

The cash credits and buyer’s credits are also secured by personal guarantees of three directors of the Company.

 

The above cash credit is repayable on demand and carries interest @ 10.20% to 11.45% p.a.

 

2 Buyers credit carries interest @ Libor plus 0.42% to 1.50% and is repayable in 60-365 days.

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S.R. Batliboi and Company

Chartered Accountants

Address :

22, Camac Street, 3rd Floor, Block ‘C’, Kolkata – 700 016, West Bengal, India

Tel. No.:

91-33-66153400

Fax No.:

91-33-22817750

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary Companies (As on 31.03.2014) :
  • Auro Sundram Ply and Door Private Limited
  • Aegis Business Limited
  • Aegis Overseas Limited
  • Centuryply Myanmar Private Limited
  • Century MDF Limited

 

 

Associates (As on 31.03.2014) :
  • Century Infotech Limited (with effect from 14th March, 2014)

 

 

Enterprises Owned/ Influenced by Key Management Personnel or their relatives (As on 31.03.2014) :
  • Brijdham Merchants Private Limited
  • Cement Manufacturing Company Limited
  • Sri Ram Merchants Private Limited
  • Sri Ram Vanijya Private Limited
  • Sumangal Business Private Limited
  • Sumangal International Private Limited
  • Star Cement Meghalaya Limited
  • Meghalaya Power Limited
  • Auroville Investements Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

Authorised Capital : Not Available

 

Paid-up Capital : Rs.222.527 million

 

AS ON 31.03.2014

Authorised Capital :

No. of Shares

Type

Value

Amount

650500000

Equity Shares

Re.1/- each

Rs.650.500 million

1500000

Preference Shares

Rs.10/- each

Rs.15.000 million

50000

Preference Shares

Rs.100/- each

Rs.5.000 million

 

Total

 

Rs.670.500 million

 

 

 

 

 

Issued Capital:

No. of Shares

Type

Value

Amount

223552990

Equity Shares

Re.1/- each

Rs.223.553 million

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

222172990

Equity Shares

Re.1/- each

Rs.222.173 million

 

Add: Amount received on forfeited shares

 

Rs.0.354 million

 

Total

 

Rs.222.527 million

 

 

 

 

 

Notes:

 

a) There is no change in number of shares in current year and last year.

 

b) Terms/Rights attached to the Equity Shares

 

The Company has only one class of equity shares having par value of Re.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 proposed a final dividend of Re.1/- per share during the year ended 31st March, 2014. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting.

 

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) Aggregate number of shares issued for consideration other than cash during the period of five years immediately preceding the reporting date.

 

Particulars

31st March, 2014

No. of Shares

Equity Shares allotted as fully paid-up pursuant to contracts for consideration other than cash

--

 

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

 

Name of the Shareholders

31st March, 2014

No. of Shares

% holding in the class

Equity Shares of Re.1/- each fully paid-up

 

 

Sajjan Bhajanka

24571570

11.06%

Sanjay Agarwal

23788740

10.71%

Divya Agarwal

16749750

7.54%

Santosh Bhajanka

15649500

7.04%

Prem Kumar Bhajanka

10458510

4.71%

Vishnu Khemani

12486857

5.62%

 

As per of the Company, including its register of shareholders/members as at 31st March, 2014, the above shareholding represents legal ownerships of shares.

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1) Shareholders' Funds

 

 

 

(a) Share Capital

222.527

222.527

222.527

(b) Reserves & Surplus

3653.280

2691.552

2274.183

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

3875.807

2914.079

2496.710

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

814.196

1179.830

1556.643

(b) Trade Payables

0.000

2.637

4.771

(c) Other long term liabilities

28.615

16.166

11.607

(d) Long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

842.811

1198.633

1573.021

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3743.994

3278.944

2892.578

(b) Trade payables

652.231

742.338

808.077

(c) Other current liabilities

958.968

719.118

510.484

(d) Short-term provisions

425.774

318.068

101.281

Total Current Liabilities (4)

5780.967

5058.468

4312.420

 

 

 

 

TOTAL

10499.585

9171.180

8382.151

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2315.873

2092.794

1842.249

(ii) Intangible Assets

 

26.810

14.396

(iii) Capital work-in-progress

 

187.669

339.975

(iv) Expenditure on New/Expansion Projects (Pending Allocation)

0.000

0.000

20.167

(b) Non-current Investments

451.177

378.915

156.151

(c) Deferred tax assets (net)

70.334

5.474

1.866

(d)  Long-term Loan and Advances

788.864

677.652

584.779

(e) Other Non-current assets

23.195

23.675

20.544

Total Non-Current Assets

3649.443

3392.989

2980.127

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

3200.446

2926.528

2176.671

(c) Trade receivables

2719.086

2046.268

1816.219

(d) Cash and cash equivalents

170.255

180.399

797.367

(e) Short-term loans and advances

670.124

436.933

475.041

(f) Other current assets

90.231

188.063

136.726

Total Current Assets

6850.142

5778.191

5402.024

 

 

 

 

TOTAL

10499.585

9171.180

8382.151

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Revenue from Operations (Net)

15648.084

12839.747

11311.481

 

 

Other Income

36.534

94.709

73.119

 

 

TOTAL                                    

15684.618

12934.456

11384.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Raw Materials Consumed

7019.306

6388.438

5950.511

 

 

Purchase of Traded Goods

1926.640

1244.152

1268.483

 

 

(Increase)/ Decrease in inventories of Finished Goods, Work-in-Progress and Traded Goods

(435.497)

(39.177)

(160.229)

 

 

Employee Benefits Expense

1933.116

1513.865

1183.516

 

 

Other Expenses

2562.056

2250.515

1940.819

 

 

TOTAL                                    

13005.621

11357.793

10183.100

 

 

 

 

 

Less

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

2678.997

1576.663

1201.500

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

432.934

551.192

390.480

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

2246.063

1025.471

811.020

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

448.033

332.427

267.314

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

1798.030

693.044

543.706

 

 

 

 

 

Less

TAX                                                                 

289.816

23.654

17.192

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

1508.214

669.390

526.514

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

2294.652

1946.916

2065.629

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Proposed Final Equity Dividend

NA

222.173

55.543

 

 

Tax on Proposed Equity Dividend

NA

37.758

9.440

 

 

Tax on Proposed Equity Dividend written back *

NA

-8.277

0.000

 

 

Proportionate dividend on Preference Shares

NA

0.000

0.210

 

 

Tax on Preference Dividend

NA

0.000

0.034

 

 

Transfer to Capital Redemption Reserve

NA

0.000

5.000

 

 

Transfer to General Reserve

NA

70.000

575.000

 

BALANCE CARRIED TO THE B/S

NA

2294.652

1946.916

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export (FOB Value)

NA

542.779

512.104

 

TOTAL EARNINGS

NA

542.779

512.104

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

4377.165

3903.012

 

 

Capital goods

NA

58.651

111.858

 

 

Purchases of Finished Goods

NA

294.092

430.207

 

 

Stores & Spares

NA

47.144

29.871

 

TOTAL IMPORTS

NA

4777.052

4474.948

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

6.79

3.01

2.37

 

* In terms of Section 115-O of Income Tax Act, 1961, liability towards tax on proposed equity dividend for the year 2012-13 was adjusted against taxes on dividend paid by a subsidiary company on the dividends it had declared and paid during 2013-14.

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current maturities of long-term borrowings

NA

453.145

228.336

Cash generated from operations

NA

418.043

578.945

Net Cash from Operating Activities

NA

306.377

480.603

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

9.64

5.21

4.65

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

17.12

12.28

10.62

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

18.02

8.06

6.91

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.46

0.24

0.22

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.18

1.53

1.78

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.18

1.14

1.25

 

 

STOCK PRICES

 

Face Value

Re.1.00/-

Market Value

Rs.197.95/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

222.527

222.527

222.527

Reserves & Surplus

2274.183

2691.552

3653.280

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

2496.710

2914.079

3875.807

 

 

 

 

Long-term borrowings

1556.643

1179.830

814.196

Short term borrowings

2892.578

3278.944

3743.994

Total borrowings

4449.221

4458.774

4558.190

Debt/Equity ratio

1.782

1.530

1.176

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations (Net)

11311.481

12839.747

15648.084

 

 

13.511

21.872

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from Operations (Net)

11311.481

12839.747

15648.084

Profit

526.514

669.390

1508.214

 

4.65%

5.21%

9.64%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity-Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS:

CALCUTTA HIGH COURT


CASE STATUS INFORMATION SYSTEM

Case Status     :   Pending

Status of          INCOME TAX APPEAL (ITA)   83        of    2010      

COMMISSIONER OF INCOME TAX, KOLKATA-IV,     Vs.         CENTURY PLYBOARDS (INDIA) LIMITED

Pet's Adv.        :   S. S.SARKAR                   

Res's Adv.       :       

Court No.       :  9    

Last Listed On :  Monday, July 06, 2015

 

Category           :   INCOME TAX : REVENUE

 

 CONNECTED APPLICATION (S)

No Connected Application

 

 CONNECTED MATTER (S)

No Connected Matter

Case Updated on:   Friday, June 12, 2015

 

 

CORPORATE INFORMATION (AS ON 31.03.2014):

 

The Company is a public Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on National Stock Exchange of India Ltd. and BSE Limited. The Company is primarily engaged in manufacturing and sale of Plywood, Laminates, Decorative Veneers, Pre-laminated boards and Flush Doors and providing Container Freight Station services. The Company presently has manufacturing facilities at Kolkata, Karnal, Guwahati, Bacchau and near Chennai. Container Freight station is located at Kolkata.

 

BUSINESS SEGMENTS:

 

The business segments have been identified on the basis of the products of the Company. Accordingly, the

Company has identified following business segments:

 

Plywood - Plywood, Block-Board, Veneer and Timber

Laminate - Decorative Laminates and Pre-laminated Boards

CFS Services - Container Freight Stations and Shipping Services

Others - Mainly Trading of Chemicals, Minerals and Readymade Furniture.

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Contingent Liabilities not provided for in respect of :–

 

 

(a) Demands / Claims by various Government Authorities and others not acknowledged as debt:

 

 

(i) Excise Duty/Service Tax

NA

81.688

(ii) Sales Tax / VAT

NA

58.281

(iii) Income Tax

NA

120.383

Total

NA

260.352

(b) Guarantees in favour of a bank against facilities granted to

 

 

• a Subsidiary Company

NA

100.000

• Others

NA

23.976

(c) Un-redeemed bank guarantees

NA

131.774

(d) Bills discounted with banks

NA

6.202

(e) Letters of credit issued by the banks

NA

563.478

(f) Custom Duty on import under EPCG Scheme against which Export obligation is to be fulfilled

NA

12.842

 

Note: Based on discussion with the solicitors/favourable decisions in similar cases/legal opinion taken by the Company, the management believes that the outflow of resources in not probable and hence, no provision there against is considered necessary.

 

 

FIXED ASSETS:

 

Tangible Assets

·         Freehold Land

·         Leasehold Land

·         Factory Buildings

·         Non-Factory Buildings

·         Storage Yard on Leasehold Land

·         Plant and Machinery

·         Electrical Installations

·         Furniture and Fixtures

·         Office Equipments

·         Computers

·         Vehicles   

Intangible Assets

·         Computer Software

·         Trade Mark and Patent Rights

·         Goodwill

 

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.63.46

UK Pound

1

Rs.98.47

Euro

1

Rs.70.69            

 

 

INFORMATION DETAILS

 

Information Gathered by :

PRT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

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

YES

--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

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

62

 

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.