MIRA INFORM REPORT

 

 

Report No. :

347783

Report Date :

03.11.2015

 

IDENTIFICATION DETAILS

 

Name :

M B TIMBER PRIVATE LIMITED

 

 

Registered Office :

78, Bentick Street, "Shree Krishna Chamber", 2nd Floor, Unit – 2B, Kolkata – 700001, West Bengal

Tel. No.:

91-33-22257780

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

15.11.2001

 

 

Com. Reg. No.:

21-093928

 

 

Capital Investment / Paid-up Capital :

Rs.39.343 Million

 

 

CIN No.:

[Company Identification No.]

U20101WB2001PTC093928

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALM10204F

 

 

PAN No.:

[Permanent Account No.]

AACCM6526C

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and importer of logs and sawn timber. 

 

 

No. of Employees :

6 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (19)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject was established as a partnership firm in 1991 by Mr. Ajay Kumar Gupta and Mr. Ganga Prasad Gupta, the firm was reconstituted as a closely held company in 2001. It trader and importer of logs and sawn timber.

 

Management of the company has failed to file its financial for the year 2014 with the Government Department.

 

As per available financial of 2013, there is unfavourable gap between trade receivables and trade payables.

 

Further, the rating also takes into consideration delay in servicing its debt and overutilization of cash credit account have been because of the company’s weak liquidity.

 

However, business is active. Payment are reported to be unknown.

 

In view of lack of latest financial information, the company can be considered for business dealings on safe and secured trade terms and conditions.

 

NOTE: Partial information are gathered from indirect source i.e., CRISIL.

 

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= D

Rating Explanation

Lowest credit quality very low prospects of recovery.

Date

15.06.2015

 

 

Rating Agency Name

CRISIL

Rating

Short term rating= D

Rating Explanation

Have instruments with this rating are in default or expected to be in default on maturity.

Date

15.06.2015

 

 

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 31-03-2015.

 

 

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Sanjay Roy

Designation :

Office Executive

Contact No.:

91-33-22257780

Date :

02.11.2015

 

 

LOCATIONS

 

Registered Office / Warehouse :

78, Bentick Street, “Shree Krishna Chamber”, 2nd Floor, Unit – 2B, Kolkata – 700001, West Bengal, India

Tel. No.:

91-33-22257780 / 22257781

Mobile No.:

91-9830005042 (Mr. Ajay)

Fax No.:

91-33-22257779

E-Mail :

mbtpl@sify.com

Location :

Owned

Locality :

Commercial

 

 

DIRECTORS

 

AS ON 30.09.2013

 

Name :

Mr. Ajay Kumar Gupta

Designation :

Director

Address :

213, Maharshi Devendra Road, Kolkata – 700007, West Bengal, India

Date of Birth/Age :

10.06.1971

Date of Appointment :

01.04.2003

PAN No.:

ADZPG6376P

DIN No.:

00651928

 

 

Name :

Mr. Ganga Prasad Gupta

Designation :

Director

Address :

30, M. D. Road, Kolkata – 700007, West Bengal, India 

Date of Birth/Age :

19.05.1951

Date of Appointment :

03.02.2008

PAN No.:

AELPG9508A

DIN No.:

01669875

 

 

KEY EXECUTIVES

 

Name :

Mr. Sanjay Roy

Designation :

Office Executive

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2013

 

Names of Shareholders

 

No. of Shares

Ajay Kumar Gupta

866180

Ganga Prasad Gupta

87000

Ajay Kumar Gupta (HUF)

210000

Gouri Shankar Gupta (HUF)

350000

Sepujini Devi Gupta

40000

Manju Gupta

693600

M. B. Woodcraft Private Limited, India

1018000

Anubhav Infrastructure Limited, India

33850

Apex Procon Private Limited, India

1200

Barharwa Realtors Private Limited, India

19150

Circular Vincom Private Limited, India

800

Dream Dealers Private Limited, India

400

Lotus Dealmark Private Limited, India

36425

Maa Sharda Vincom Private Limited, India

800

Maritime Marketing Private Limited, India

1200

Mayapur Merchandise Private Limited, India

4000

Orient Dealcom Private Limited, India

400

Pashupati Dealcom Private Limited, India

1200

Prime Rose Comm Sales Private Limited, India

1000

Ritu Dhara Marketing Private Limited, India

800

Shree OHM Properties Private Limited, India

137025

Trimurti Infra Developers Private Limited, India

3000

Trust Worthy Viniyog Private Limited, India

100600

Vaikunth Vintage Private Limited, India

3680

Vigneshwar Dealmark Private Limited, India

1520

Akashnet Sales Private Limited, India

2500

Chandrachur Vanijya Private Limited, India

25000

Link Line Constructions Private Limited, India

50000

Maa Vaishnavi Vanijya Private Limited, India

207500

Sundaram Consultants Private Limited, India

37500

 

 

Total

3934330

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2013

 

Category

Percentage

Bodies corporate

42.89

Directors or relatives of Directors

57.11

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and importer of logs and sawn timber. 

 

 

Products :

Description of product or service category

 

ITC Code

logs and sawn timber

4401

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Malaysia
  • Singapore

 

 

Terms :

 

Selling :

Cash, Credit

 

 

Purchasing :

Cash, Credit

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

Customers :

End Users

 

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

No. of Employees :

6 (Approximately)

 

 

Bankers :

Banker Name :

State Bank of Travancore

Branch :

176 Sarat Bose Road, Kolkata - 700029, West Bengal, India

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 :

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Not Divulged

Account Operation :

Not Divulged

Remark :

Not Divulged

 

  • The Federal Bank Limited, R N Mukherjee Road Branch, 1, R N Mukherjee Road, Kolkata - 700001, West Bengal, India

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Million

31.03.2012

Rs. In Million

Long Term Borrowings

 

 

Loans repayable on demand from others

0.000

28.847

Other loans and advances

1.226

1.623

 

 

 

Short Term Borrowings

 

 

Working capital loans from banks

42.027

33.037

 

 

 

Total

43.253

63.507

 

 

Auditors :

 

Name :

S K Thakur and Associates

Chartered Accountant

Address :

133,G.T.Road (N), 3rd Floor, Salkia, Howrah – 711106, West Bengal, India 

PAN No.:

ACBPT6541L

 

 

Collaborators :

Not Divulged

 

 

Membership :

Not Divulged

 

 

Others (As on 31.03.2013) :
  • Ajay Kumar Gupta (HUF)
  • Gouri Shankar Gupta (HUF)

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4600000

Equity Shares

Rs.10/- each

Rs.46.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3934330

Equity Shares

Rs.10/- each

Rs.39.343 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

39.343

32.906

32.648

(b) Reserves & Surplus

296.053

228.098

149.817

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

55.500

0.000

0.000

Total Shareholders’ Funds (1) + (2)

390.896

261.004

182.465

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

51.940

39.687

6.284

(b) Deferred tax liabilities (Net)

0.754

0.664

0.515

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

52.694

40.351

6.799

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

47.752

40.941

39.635

(b) Trade payables

658.439

399.791

717.464

(c) Other current liabilities

21.657

8.889

27.523

(d) Short-term provisions

19.782

13.772

7.643

Total Current Liabilities (4)

747.630

463.393

792.265

 

 

 

 

TOTAL

1191.220

764.748

981.529

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

33.277

33.556

31.222

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(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

0.208

0.208

6.027

(e) Other Non-current assets

0.273

0.404

0.480

Total Non-Current Assets

33.758

34.168

37.729

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

0.074

0.574

0.574

(c) Trade receivables

720.858

505.929

680.258

(d) Cash and cash equivalents

263.127

106.732

143.360

(e) Short-term loans and advances

92.018

88.664

100.409

(f) Other current assets

81.385

28.681

19.199

Total Current Assets

1157.462

730.580

943.800

 

 

 

 

TOTAL

1191.220

764.748

981.529

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

 

 

SALES

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX 

33.881

20.317

9.944

 

 

 

 

 

Less

TAX                                                     

10.988

6.278

3.422

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

22.893

14.039

6.522

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

33.673

19.634

13.112

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

56.566

33.673

19.634

 

 

 

 

 

 

Earnings Per Share (Rs.)

5.82

--

--

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

(83.023)

(67.281)

9.943

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Return on Total Assets

(PBT/Total Assets)

(%)

2.84

2.66

1.01

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.09

0.08

0.05

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.26

0.31

0.25

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.55

1.58

1.19

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

32.648

32.906

39.343

Reserves & Surplus

149.817

228.098

296.053

Share Application money pending allotment

0.000

0.000

55.500

Net worth

182.465

261.004

390.896

 

 

 

 

long-term borrowings

6.284

39.687

51.940

Short term borrowings

39.635

40.941

47.752

Total borrowings

45.919

80.628

99.692

Debt/Equity ratio

0.252

0.309

0.255

 

 

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)

Yes

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

No

26

Turnover of firm for last three years

No

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

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

NOTE: The Registered Office of the company has been shifted from 30 Maharshi Devendra Road, 2nd Floor Kolkata – 700007, West Bengal, India to the present address w.e.f. 02.06.2010

 

 

UNSECURED LOANS:

 

Particulars

31.03.2013

Rs. In Million

31.03.2012

Rs. In Million

Long Term Borrowings

 

 

Loans repayable on demand from banks

1.970

0.000

Loans repayable on demand from others

48.744

9.217

 

 

 

Short Term Borrowings

 

 

Loans and advances from directors

5.725

0.000

Other loans and advances

0.000

7.904

 

 

 

Total

56.439

17.121

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10461517

17/10/2013

110,000,000.00

State Bank of Travancore

176 Sarat Bose Road, Kolkata, West Bengal - 700029, India

B90051012

2

10432660

24/05/2013

350,000,000.00

State Bank of Travancore

176, Sarat Bose Road, Kolkata, West Bengal - 700029, India

B77767234

 

 

FIXED ASSETS:

 

·         Air conditioner

·         Battery and Inverter

·         Computer Printer

·         Core Dryer Machine

·         Crane

·         Factory Shed

·         Fax and Xerox 

·         Furniture and Fixtures 

·         Land and Building

·         Mobile Phone

·         Motor Car

·         Refrigerator

·         Telephone

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, 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.65.48

UK Pound

1

Rs.101.06

Euro

1

Rs.72.22

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NKT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

2

--CREDIT LINES

1~10

2

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--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

 

19

 

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.