MIRA INFORM REPORT

Report No. :	325694
Report Date :	04.06.2015

IDENTIFICATION DETAILS

Name :	INDIAN TIMBER PRODUCTS PRIVATE LIMITED
Registered Office :	Survey No.55/A, Annaram Village,Hyderabad Narsapur Road 502313, Telangana
Mob. No.:	91-9989488060 (Mr. Chiranjiv Babu)
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	27.10.1986
Com. Reg. No.:	36-006888
Capital Investment / Paid-up Capital :	Rs. 12.480 Million
CIN No.: [Company Identification No.]	U20230TG1986PTC006888
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	HYDI00949E
PAN No.: [Permanent Account No.]	AAAC1614OC
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers of ISI marked ITP Flush Doors, Paneldoors, Plywood, LVI, Black Boards, Form Works, and Pallets.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 50000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Subject was incorporated in 1986. Subject is manufacture of ISI marked ITP Flush doors, Panel doors, Plywood’s, LVI, bank boards, form works and pallets. General financial position of the company seems to be fair. Trade relation are fair. Business is active. Payment terms are reported to be usually correct. In the view of extensive of promoters, the company can be considered for 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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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 DENIED BY

Name :	Mr. Chiranjiv Babu
Designation :	Accountant
Contact No.:	91-9989488060
Date :	02.06.2015

LOCATIONS

Registered Office :	Survey No.55/A, Annaram Village,Hyderabad Narsapur Road 502313, Telangana, India
Tel. No.:	Not Available
Mobile No.:	91-9989488060 (Mr. Chiranjiv Babu)
Fax No.:	Not Available
E-Mail :	indtimber@yahoo.com

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Srinivas Sunkara

Designation :

Managing Director

Address :

Flat No. 202, Padmaja Courts, 2 Srinagar Colony, Hyderabad – 500 075, Andhra Pradesh, India

Date of Birth/Age :

30.07.1964

Qualification :

BE

Date of Appointment :

01.04.1999

DIN No.:

00194094

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U20230TG1986PTC006888	INDIAN TIMBER PRODUCTS PVT. LTD.	Managing director	01/04/1999	01/04/1999	-	Active	NO
2	U15209TG1999PTC032245	ITP ENTERPRISES PRIVATE LIMITED	Managing director	08/12/2004	08/12/2004	-	Active	NO
3	L99999TG1991PLC012764	DIVYASHAKTI GRANITES LIMITED	Director	30/09/2014	01/11/2013	-	Active	NO

Name :

Mr. Sivaramakrishna Sunkara

Designation :

Director

Address :

Gayathri Lane, RTC Colony, Plot No. 9, Vijayawada, Krishna, Andhra Pradesh, India

Date of Birth/Age :

07.11.1937

Qualification :

SSC

Date of Appointment :

01.04.1999

PAN No.:

00364467

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31909TG1979PTC002572	ECLUMINAR PVT LTD	Director	27/11/1979	27/11/1979	-	Active	NO
2	U45200TG1983PLC003796	SEW INFRASTRUCTURE LIMITED	Director	09/09/1983	09/09/1983	01/10/2007	Active	NO
3	U45203TG1997PLC026884	SEW Transportation Networks Limited	Director	28/05/1997	28/05/1997	25/01/2013	Active	NO
4	U20230TG1986PTC006888	INDIAN TIMBER PRODUCTS PVT. LTD.	Director	01/04/1999	01/04/1999	-	Active	NO
5	U45309WB2006PLC108996	WEST BENGAL SEW PRASAD INFRASTRUCTURE LTD	Nominee director	20/06/2008	21/04/2006	16/02/2013	Active	NO

Name :

Mr. Raj Kumar Sunkara

Designation :

Director

Address :

Gayathri Lane, RTC Colony, Plot No. 9, Vijayawada, Krishna, Andhra Pradesh, India

Date of Birth/Age :

08.09.1967

Qualification :

11^th (F.Y.)

Date of Appointment :

00380672

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U20230TG1986PTC006888	INDIAN TIMBER PRODUCTS PVT. LTD.	Director	01/04/1999	01/04/1999	-	Active	NO
2	U15209TG1999PTC032245	ITP ENTERPRISES PRIVATE LIMITED	Director	25/08/2004	25/08/2004	-	Active	NO
3	U40108TG1999PLC031522	SEW Thermal Power Corporation Limited	Director	22/09/2007	23/08/2007	23/03/2015	Active	NO
4	U45400TG2011PLC073484	SEW Vizag Port Terminal Limited	Director	24/03/2011	24/03/2011	01/03/2015	Active	NO
5	U45400TG2011PTC074632	Dweepa Infrastructure Services Private Limited	Director	24/05/2011	24/05/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Chiranjiv Babu
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares	% of Holdings
Sunkara Srinivas	353500	28.33
Sunkara Sivarama Krishna	174500	13.98
Sunkara Kasturi	4500	0.36
Sunkara Anil Kumar	356500	28.57
Sunkara Raj Kumar	354500	28.37
Sunkara Rohini	5000	0.40
Total	1248000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers of ISI marked ITP Flush Doors, Paneldoors, Plywood, LVI, Black Boards, Form Works, and Pallets.
Products :	Not Divulged
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Not Divulged

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Andhra Bank, Balanagar Branch, Hyderabad – 500037, Andhra Pradesh, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from Andhra Bank	4.875	4.167
HDFC Vehicle loan	0.000	0.148
Kotak Mahindra Vehicle loan	0.397	1.031
SHORT TERM BORROWING
Cash credit from Andhra Bank	10.605	9.689
Total	15.877	15.035

Auditors :
Name :	Pavuluri and Company Chartered Accountant
Address :	#105, 1^st Block, 1^st Floor, Divya Shakti Complex, Ameerpet, Hyderabad – 500016, Andhra Pradesh, India
PAN No.:	AACFG2920P
Memberships :	--
Collaborators :	--
Associates/Subsidiaries :	--

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs. 20.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1248000	Equity Shares	Rs.10/- each	Rs. 12.480 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	12.480	12.480	9.480
(b) Reserves & Surplus	7.649	4.916	4.137
(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)	20.129	17.396	13.617
(3) Non-Current Liabilities
(a) long-term borrowings	17.323	14.941	8.127
(b) Deferred tax liabilities (Net)	0.945	0.991	1.021
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.269	0.278	0.226
Total Non-current Liabilities (3)	18.537	16.210	9.374
(4) Current Liabilities
(a) Short term borrowings	10.605	9.689	10.124
(b) Trade payables	24.961	27.477	16.281
(c) Other current liabilities	18.983	16.713	10.989
(d) Short-term provisions	0.842	0.480	0.517
Total Current Liabilities (4)	55.391	54.359	37.911
TOTAL	94.057	87.965	60.902
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	26.537	28.425	13.370
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	1.685
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	3.380	3.776	0.626
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	29.917	32.201	15.681
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	41.818	41.169	31.007
(c) Trade receivables	18.118	13.491	13.268
(d) Cash and cash equivalents	0.356	0.152	0.204
(e) Short-term loans and advances	3.848	0.952	0.742
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	64.140	55.764	45.221
TOTAL	94.057	87.965	60.902

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	98.196	55.019	70.395
		Other Income	1.120	0.622	0.120
		TOTAL	99.316	55.641	70.515
Less	EXPENSES
		Cost of Materials Consumed	50.143	36.127	26.883
		Purchases of Stock-in-Trade	6.879	3.573	26.481
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	5.656	(12.373)	(5.846)
		Employees benefits expense	5.582	4.421	3.732
		Other expenses	19.341	16.229	13.570
		TOTAL	87.601	47.977	64.820
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		11.715	7.664	5.695
Less	FINANCIAL EXPENSES		4.242	3.469	2.457
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		7.473	4.195	3.238
Less/ Add	DEPRECIATION/ AMORTISATION		3.946	2.966	1.947
	PROFIT BEFORE TAX		3.527	1.229	1.291
Less	TAX		0.795	0.450	0.935
	PROFIT AFTER TAX		2.732	0.779	0.356
	Earnings Per Share (Rs.)		2.19	0.62	0.38

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.78	1.42	0.51
Operating Profit Margin (PBIDT/Sales)	(%)	11.93	13.93	8.09
Return on Total Assets (PBT/Total Assets}	(%)	3.75	1.40	2.18
Return on Investment (ROI) (PBT/Networth)		0.18	0.07	0.09
Debt Equity Ratio (Total Debt /Networth)		1.39	1.42	1.34
Current Ratio (Current Asset/Current Liability)		1.16	1.03	1.19

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	9.480	12.480	12.480
Reserves & Surplus	4.137	4.916	7.649
Share Application money pending allotment	0.000	0.000	0.000
Net worth	13.617	17.396	20.129
long-term borrowings	8.127	14.941	17.323
Short term borrowings	10.124	9.689	10.605
Current Maturities of Long Term Debt	0.000	0.000	0.000
Total borrowings	18.251	24.630	27.928
Debt/Equity ratio	1.340	1.416	1.387

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	70.395	55.019	98.196
		(21.842)	78.477

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	70.395	55.019	98.196
Profit	0.356	0.779	2.732
	0.51%	1.42%	2.78%

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	Yes
8	Designation of contact person	Yes
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	No
17	Details of sister concerns	No
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	No
32	Litigations that the firm/promoter involved in	-----
33	Market information	-----
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from 604, Swaranajayanthi Commerical Complex, Ameerpet, Complex, Ameerpet, Hyderabad – 500038, Andhra Pradesh, India to the present address w.e.f. 25.05.2009.

UNSECURED LOAN

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
From directors	7.936	6.805
From shareholders	4.114	2.790
Total	12.050	9.595

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10093864	06/02/2008	715,000.00	ANDHRA BANK	BALANAGAR BRANCH, HYDERABAD, \ Andhra Pradesh - 500037, INDIA	A34717652
2	90122103	01/10/2012 *	29,800,000.00	ANDHRA BANK	BALANAGAR BRANCH, BALANAGAR, HYDERABAD, Andhra Pradesh - 500037, INDIA	B60784519
3	90123498	04/12/1999 *	970,000.00	ANDHRA BANK	BALANAGAR, HYDERABAD, Andhra Pradesh - 500037, INDIA	-

* Date of charge modification

FIXED ASSETS

• Land
• Buildings
• Plant and Equipments
• Electrical Installation
• Office Equipments
• Furniture and Fixtures
• Vehicle
• Computer
• Air Conditioner

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 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. 64.18
UK Pound	1	Rs. 98.30
Euro	1	Rs. 72.25

INFORMATION DETAILS

Information Gathered by :
Analysis Done by :
Report Prepared by :	JYO

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10
PAID-UP CAPITAL	1~10
OPERATING SCALE	1~10
FINANCIAL CONDITION
--BUSINESS SCALE	1~10
--PROFITABILITY	1~10
--LIQUIDITY	1~10
--LEVERAGE	1~10
--RESERVES	1~10
--CREDIT LINES	1~10
--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	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL

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.