MIRA
INFORM REPORT
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Report Date : |
20th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
BADSHA
TEXTILES LTD |
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Registered Office : |
28,Dilkusha Commercial Area(1st Floor), Dhaka,
Bangladesh |
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Country : |
Bangladesh |
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Financials (as on) : |
2004 |
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Date of Incorporation : |
28th
June, 2000 |
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Com. Reg. No.: |
C-40617 |
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Legal Form : |
Private
limited company |
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Line of Business : |
Engaged
in manufacturing and selling of yarns. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
NAME
Badsha Textiles Ltd
Address
28,Dilkusha Commercial Area(1st Floor)),
Dhaka,
Bangladesh.
Telephone :
880-2-7176871-7,
Fax :
880-2-7176880
E-Mail : marketing@badshatex.com
SUMMARY
Established :
2000
Incorporation No. :
C-40617
Incorporation Dated :
28th June,2000
Status :
Satisfactory
Managing Director & CEO :
Mr.M.Badsha Mia
Payment :
Regular
Litigation :
Nil
Capital Invested :
Tk.30 million
Sales :
Tk. 165 million
Employees :
228
Executives- 3
Junior Executives- 5
Textile Engineer- 4
Junior Textile Engineer- 6
Merchandisers- 8
Quality Control- 10
Supervisory Staff- 8
Support Staff- 5
Technicians- 4
General
Staffs- 175
BANK
1 Islami
Bank(bangladesh) Limited
Motijheel Commercial Area,
Dhaka.
FACTORY
Zamirdia,
Valuka,
District: Mymensingh,
BRANCH
NIL
OFFICE AREA
1,850 sq.ft.(rented)
FACTORY AREA
26,800 sq.ft (own)
WAREHOUSE AREA
4,200 sq.ft.(rented)
DIRECTORS & SHAREHOLDERS
Ms.Asma Begum
-Chairperson
Mr. M.Badsha Mia
-Managing Director
HISTORY
The subject was established in 2000
by Mr.M.Badsha Mia and other director in Dhaka city .
BUSINESS
The company is engaged in
manufacturing and selling of yarns.
ITEM DEALING IN
1 All types of Yarns of
20—30 counts
PRODUCTION POSITION
Yearly production Capacity :
15 million kgs
Last year Production :
12.24 million kgs
MAJOR CLIENTS
1 Local Export Oriented
Composite Textiles Mills
TERM OF PAYMENT
1 Cash
1 Credit
RAW COOTON IMPORT FROM
1 China
1 Hong Kong
1 Central Asia
1 Pakistan
1 India
NAME OF GROUP
NIL
SISTER CONCERNS
1 Pioneer Sweater Limited,Dhaka
1 Pioneer Spinning
Ltd,Dhaka
1 Kamal Yarn
Limited,Dhaka
MEMBER
1 Bangladesh Textile Mills Association,Dhaka
1 Dhaka Chamber of Commerce & Industry,
Dhaka
LEGAL FORM
The subject is a private limited company
incorporated with the Registrar of Joint Stock of Companies Dhaka.
FINANCIAL INFORMATION
2004 2003 2002
Capital
Invested Tk.30 million
Tk.30 million Tk.30
million
Turnover Tk.165
million Tk.164 million Tk.163.2 million
Liability NIL NIL NIL
Fixed
Assets Tk.40
million Tk.40 million Tk.39
million
CAPITAL STRUCTURE
Authorized
Capital Tk.100 million
Paid
up Capital Tk.200,000.00
Each
share value Tk.100.00
each
EXCHANGE RATE
GB
Pound 1.00=Tk.118.9771
US
Dollar 1.00=Tk. 67.0139
Europe
Euro 1.00=Tk. 81.6356
Japanese
Yen 1.00=Tk. 0.5858
Australian
Dollar 1.00=Tk.
50.6070
COMMENTS
Subject is a family owned private limited
engaged in manufacturing and selling of yarns. Their main clients are the local
export oriented composite textile mills.
Managing director of the company is an
experienced businessman and knows his job well. He is financially solvent and
good at his business commitments, it is reported.
The
company can be considered normal for business dealings at usual trade terms and
conditions.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |