MIRA INFORM REPORT

Report No. :	516721
Report Date :	25.06.2018

IDENTIFICATION DETAILS

Name :	SANTOSH TIMBER TRADING COMPANY LIMITED
Registered Office :	A-1, Ground Floor, W.H.S Kirti Nagar, New Delhi-110015
Tel. No.:	91-11-25162865/ 66
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	02.05.1995
CIN No.: [Company Identification No.]	U74899DL1995PLC068132
Capital Investment / Paid-up Capital :	INR 31.307 Million
PAN No.: [Permanent Account No.]	AABCS0188H
GSTN : [Goods & Service Tax Registration No.]	24AABCS0188H1ZI
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Dealer of Timber or Wood is used to obtain timber and wood from the market. [As per Memorandum of Association]
No. of Employees :	Not Divulged

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject was incorporated in the year 1995. It is engaged in importing and trading of medium density fire board (MDF), Acrylic Solid Surface (ASS), Doorskin and timber. (Information gathered from other sources). As per the consolidated financial records of 2017, the revenue of the company has increased by 6.40% along with low profit margin of 0.58%. The moderate financial profile of the company is marked by low reserve base as compared to its capital along with slightly high debt balance sheet profile. Rating is constrained on account of unfavourable gap between trade payables and trade receivables. Payment seems to be slow. In view of aforesaid, the company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List

Country Name	Previous Rating (31.12.2017)	Current Rating (01.04.2018)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term=B+
Rating Explanation	Risk-prone-credit-quality and carries very high credit risk
Date	17.10.2017

Rating Agency Name	CRISIL
Rating	Short Term=A4
Rating Explanation	Minimal degree of safety and very high credit risk
Date	17.10.2017

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 31-03-2018.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 25.06.2018.

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DECLINED

MANAGEMENT NON-COOPERATIVE

[Contact No: 91-11-25162865/ 66]

[91-2836-232926/ 226943] is not working

LOCATIONS

Registered/ Head Office :	A-1, Ground Floor, W.H.S Kirti Nagar, New Delhi-110015, India
Tel. No.:	91-11-25162865/ 66
Fax No.:	Not Available
E-Mail :	aac_firm@yahoo.in santoshtimber@yahoo.com
Branch Office :	Survey No. 287/1 Vill-Mithirohar, Dist Gandhidham, Kachch, Gujarat, India
Tel. No.:	91-2836-232926/ 226943
Godown :	88/5, Village Mundka, Nangloi, Delhi-110041, India
Tel. No.:	91-11-28345854

DIRECTORS

AS ON: 31.03.2017

Name :

Mr. Naresh Kumar Aggarwal

Designation :

Director

Address :

17/71, 1st Floor, West Punjabi Bagh, New Delhi-110026, India

Date of Birth/Age :

14.12.1964

Date of Appointment :

02.05.1995

DIN No.:

00112365

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U20211DL1997PTC088621	ATLANTIC WOOD PRIVATE LIMITED	21/07/1997

Name :

Mrs. Usha Devi Agarwal

Designation :

Director

Address :

17/71, 1st Floor, West Punjabi Bagh, New Delhi-110026, India

Date of Birth/Age :

07.03.1967

Date of Appointment :

06.05.1996

DIN No.:

00112413

Name :

Pitambari Devi

Designation :

Director

Address :

14/43, Punjabi Bagh, Delhi-110026, India

Date of Appointment :

18.04.2001

DIN No.:

00989555

Name :

Neelakshi Aggarwal

Designation :

Director

Address :

House No. 34-A/ 78, West Punjabi Bagh, Delhi, New Delhi-110026, India

Date of Birth/Age :

19.02.1989

Date of Appointment :

01.12.2009

DIN No.:

02738967

Name :

Mrs. Radhika Gupta

Designation :

Director

Address :

4, Ram Chandra Lane, Civil Line, New Delhi-110054, India

Date of Appointment :

28.03.2014

DIN No.:

06962964

Other Directorship :

CIN/FCRN	Company Name	Begin Date
U20211DL1997PTC088621	ATLANTIC WOOD PRIVATE LIMITED	16/12/2014

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 31.03.2017

Names of Shareholders	No. of Shares
Naresh Kumar Aggarwal	314200
Sunil Kumar Aggarwal	100
Anil Kumar Aggarwal	100
Prem Chand Gupta	50000
NRA HUF	250000
Jai Santosh Plywood and Veneer Co Limited	122600
Krishna Devi	19000
Usha Aggarwal	190000
Neelakshi Aggarwal	41900
Ashish Aggarwal	51000
Pitambari Devi Aggarwal	493500
Shyam Lal Gupta	50000
Shubham Aggarwal	130000
M R Aggarwal and Sons HUF	30000
Mamraj Aggarwal	260000
Rekha Aggarwal	35000
Evergreen Natural Products Private Limited	330000
Satvik Natural Products Private Limited	763333
Total	3130733

AS ON: 29.09.2017

Equity Share Breakup	Percentage of Holding
Category
Promoters – Individual/ Hindu Undivided Family – Indian	61.16
Promoters – Body Corporate	38.84
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Dealer of Timber or Wood is used to obtain timber and wood from the market. [As per Memorandum of Association]

Products/ Services :

ITC Code No.	Product Descriptions
99611914	Wood In Raw Form

NIC Code No.	Product Descriptions
9961	Wholesale Trade 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 (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

Customers :

Reference:	Not Divulged
Name of the Person (Designation):	--
Contact Number:	--
Since how long known:	--
Maximum limit dealt:	--
Experience:	--
Remark	--

No. of Employees :

Not Divulged

Bankers :

· Punjab and Sind Bank

H Block, Connaught Circus, New Delhi-110001, India

Facilities :

SECURED LOANS	31.03.2017 (INR In Million)	31.03.2016 (INR In Million)
SHORT TERM BORROWINGS
Punjab and Sind Bank A/c (CC)	12.209	0.000
Punjab and Sind Bank (ODP)	35.395	51.334
Secured against against Buyers Credit	138.295	146.463
HDFC Bank Baleno Car Loan	0.666	0.000
Total	186.565	197.797

Auditors :
Name :	Anil Ammita and Company Chartered Accountants
Address :	186, Dda Site-1, New Rajinder Nagar, New Delh-110060, India
Tel. No.:	91-11-45075752
E-Mail :	aac_firm@yahoo.in
PAN No.:	AATFA4332N
Memberships :	Not Available
Collaborators :	Not Available
Associates Concern :	· Starwood Veneers Private Limited · Sanwud Shoppe Private Limited

CAPITAL STRUCTURE

AS ON: 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
4000000	Equity Shares	INR 10/- each	INR 40.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3130733	Equity Shares	INR 10/- each	INR 31.307 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	31.307	31.307	31.307
(b) Reserves & Surplus	21.249	19.413	18.262
(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)	52.556	50.720	49.569
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	0.000	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	196.565	218.543	228.536
(b) Trade payables	0.399	23.330	11.641
(c) Other current liabilities	4.644	6.496	32.676
(d) Short-term provisions	0.844	0.557	0.792
Total Current Liabilities (4)	202.452	248.926	273.645
TOTAL	255.008	299.646	323.214
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	3.846	3.679	4.575
(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	0.859	0.859	0.859
(c) Deferred tax assets (net)	0.114	0.076	0.060
(d) Long-term Loan and Advances	3.169	3.169	3.179
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	7.988	7.783	8.673
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	65.251	108.254	97.442
(c) Trade receivables	124.314	126.381	157.428
(d) Cash and cash equivalents	18.352	21.693	20.580
(e) Short-term loans and advances	33.613	30.238	34.239
(f) Other current assets	5.490	5.297	4.852
Total Current Assets	247.020	291.863	314.541
TOTAL	255.008	299.646	323.214

PROFIT & LOSS ACCOUNT [CONSOLIDATED]

	PARTICULARS		31.03.2017	31.03.2016	31.03.2015
	SALES
		Revenue from Operations	316.429	297.368	293.891
		Other Income	1.871	4.381	13.667
		TOTAL	318.300	301.749	307.558
Less	EXPENSES
		Cost of Materials Consumed	0.000	0.000	2.533
		Purchases of Stock-in-Trade	201.864	227.702	261.888
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	43.003	(10.812)	(23.422)
		Employees benefits expense	4.386	4.203	2.623
		Other expenses	56.204	66.961	50.911
		TOTAL	305.457	288.054	294.533
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		12.843	13.695	13.025
Less	FINANCIAL EXPENSES		9.521	11.075	9.509
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		3.322	2.620	3.516
Less/ Add	DEPRECIATION/ AMORTISATION		0.680	0.927	1.885
	PROFIT/ (LOSS) BEFORE TAX		2.642	1.693	1.631
Less	TAX		0.806	0.541	0.532
	PROFIT/ (LOSS) AFTER TAX		1.836	1.152	1.099
	IMPORTS
		Raw Materials	160.579	163.110	0.000
	TOTAL IMPORTS		160.579	163.110	0.000
	Earnings/ (Loss) Per Share (INR)		1.16	0.75	0.72

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net Cash flow from (used in) Operations	NA	NA	NA

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	143.40	155.12	195.52
Account Receivables Turnover (Income / Sundry Debtors)	2.55	2.35	1.87
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	0.72	37.40	16.07
Inventory Turnover (Operating Income / Inventories)	0.20	0.13	0.13
Asset Turnover (Operating Income / Net Fixed Assets)	3.34	3.72	2.85

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.79	0.83	0.85
Debt Equity Ratio (Total Liability / Networth)	3.74	4.31	4.61
Current Liabilities to Networth (Current Liabilities / Net Worth)	3.85	4.91	5.52
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.07	0.07	0.09
Interest Coverage Ratio (PBIT / Financial Charges)	1.35	1.24	1.37

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	0.58	0.39	0.37
Return on Total Assets ((PAT / Total Assets) * 100)	%	0.72	0.38	0.34
Return on Investment (ROI) ((PAT / Networth) * 100)	%	3.49	2.27	2.22

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.22	1.17	1.15
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	0.90	0.74	0.79
G-Score Ratio Financial (Networth / Total Assets)	0.21	0.17	0.15
G-Score Ratio Debt (Debts / Equity Capital)	6.28	6.98	7.30
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.22	1.17	1.15

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are in INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	31.307	31.307	31.307
Reserves & Surplus	18.262	19.413	21.249
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	49.569	50.720	52.556
long-term borrowings	0.000	0.000	0.000
Short term borrowings	228.536	218.543	196.565
Total borrowings	228.536	218.543	196.565
Debt/Equity ratio	4.610	4.309	3.740

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	293.891	297.368	316.429
		1.183	6.410

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	293.891	297.368	316.429
Profit	1.099	1.152	1.836
	0.37%	0.39%	0.58%

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	No
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	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

SNO	SRN	CHARGE ID	CHARGE HOLDER NAME	DATE OF CREATION	DATE OF MODIFICATION	DATE OF SATISFACTION	AMOUNT	ADDRESS
1	C11544681	10509353	PUNJAB & SIND BANK	14/06/2014	-	-	70000000.0	H BLOCK, CONNAUGHT CIRCUSNEW DELHIDL110001IN
2	B75082941	90044083	PUNJAB & SIND BANK	12/02/2004	25/04/2013	-	130000000.0	H BLOCK, CONNAUGHT CIRCUSNEW DELHINEW DELHIDL110001IN
3	B75082552	90043625	PUNJAB & SIND BANK	14/12/2002	25/04/2013	-	50000000.0	H BLOCK, CONNAUGHT CIRCUSNEW DELHINEW DELHIDL110001IN

UNSECURED LOANS

PARTICULARS	31.03.2017 (INR In Million)	31.03.2016 (INR In Million)
SHORT TERM BORROWINGS
Loans repayable on demand
Other	10.000	20.746
Total	10.000	20.746

COMPANY’S PERFORMANCE

The companies have earned revenue from operations for the financial year 2016-17 which is INR 316.429 Million which was increased by 6% over last year (INR 297.367 Million in 2015-16). Earnings before tax, depreciation and amortization (EBTDA) were 3.321 Million against the EBTDA of INR 2.621 Million in 2015-16.

FIXED ASSETS:

Tangible Assets

· Air Conditioner

· Car Baleno

· Computer and Printer

· Furniture Fittings

· Invertor

· Stabilizer

· Scooter and Motor Cycle

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 records 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	INR
US Dollar	1	INR 67.77
UK Pound	1	INR 89.96
Euro	1	INR 78.86

INFORMATION DETAILS

Information Gathered by :	SUP
Analysis Done by :	VAR
Report Prepared by :	IND

SCORE FACTORS

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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.