MIRA INFORM REPORT

 

 

Report Date :

31st May 2006

 

IDENTIFICATION DETAILS

 

Name :

NICO BATTERY MANUFACTURERS LTD

 

 

Registered Office :

# 09, Walagamba Mawatha, Borupana, Ratmalana.

 

 

Country :

Sri Lanka

 

 

Date of Incorporation :

15th November 1991

 

 

Com. Reg. No.:

N (PBS) 298

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturers & Distributors Of Motor Vehicles batteries 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow But Correct

 

 

Litigation :

Clear


GENERAL - Basic information at a glance

     

Name of Subject of Inquiry

:

NICO BATTERY MANUFACTURERS LTD

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

Managing Director

:

Mr. N. Don Ranjith Guneratne

Primary Line of Business

:

Manufacturers & Distributors Of Motor Vehicles batteries 

Head Office

&

Place of Business

:

 

# 3 Church Road ,Suwarapola,

Piliyandala, Sir Lanka.          

 

 

Tel. No: (00 94 11)  260 6030

Fax No: (00 94 11)  257 3905

 

 

 

No. of Employees

:

Approximately  90

 

 

 

 

           

 

 

                       


 

COMPANY DETAILS  - Registration and Shareholder Details

 

Registration No

:

N (PBS) 298

Date of Registration

:

15th November 1991

Registered Office

:

# 09, Walagamba Mawatha, Borupana, Ratmalana.

Board Of Directors

As At

28th June 2004

:

N. Don Ranjith Guneratne

Managing Director

Kusumalatha Guneratne

Director

N. Don Sampath Sanjeewa Guneratne

Director

N. Don Janeshra Panditha Guneratne

Director

Oshadie Vindhya Guneratne

Director

Authorised Share Capital

:

Rs.      500,000,000.00

Issued Share Capital

:

Rs.          5,048,000.00

Nominal Value of Share

:

Rs.                      10.00

Share Holders

As At

14th January 2003

:

 Share Holders

No. of Shares

N. Don Ranjith Guneratne

136,500

Kusumalatha Guneratne

71,000

N. Don Sampath Sanjeewa Guneratne

111,000

N. Don Janeshra Panditha Guneratne

101,000

N. Don Dinusha Samanthi

70,250

A. Dona Liyanora

25

N. Dona Sunethra Nandani Guneratne

25

Oshadie Vindhya Guneratne

        15,000

Secretaries

:

ES Management (Pvt) Ltd

Auditors

:

Terrance Perera & Co.

Bankers

:

-Not Disclosed-

 

 

 

 

 

 

FINANCIAL DETAILS -

     

    THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

 

 

 

 

A

Revenue

:

 

 

B

 Cost of Sales

:

 

 

C

Gross Profit

:

 

 

D

Other Income

 

 

 

E

Administration Expenses

:

 

 

F

Distribution Expenses

:

 

 

G

Financing (cost)/Income

:

 

 

H

Net Profit / (Loss) before Tax

:

 

 

I

Income Tax (expenses)/  

Release                                                                                                                    

:

 

 

J

Net Profit / (Loss) After Tax:

:

 

 

 

 

 

 

 

 

FINANCIAL DETAILS –

 

THE COMPANY HAS DECLINED TO PROVIDE INFORMATION ON ITS FINANCES

                                                                 

 

 

 

a)

Non-current Assets

:

 

 

b)

Investment

:

 

 

c)

Current Assets

:

 

 

d)

Current Liability

:

 

 

e)

Non-current liability

:

 

 

f)

Total Liabilities

:

 

 

g)

Total Assets

:

 

 

h)

 

Net Worth

 

:

 

 

                                                                 

 

 

 

 

 

CURRENT INVESTIGATION                      

 

The Subject Company NICO BATTERY MANUFACTURERS LTD is a Private Limited liability Company incorporated in 15th November 1991.  The subject company’s Head office and place of business is located at the client given address # 03, Church Road, Suwarapola, Piliyandala , and the subject company’s Factory is located at # Vihara Mawatha Bingiriya.

 

The subject company NICO BATTERY MANUFACTURER LTD, Primary Nature of business is the manufactures and supplier of Vehicle batteries & repairing of same. The product brand name is NICO . The subject company carries out domestic sales & also exports to South Korea, India, and Philippines.  

 

Mr. N. Don Ranjith Guneratne the Managing Director of the subject company when contacted refused to provide any information to prepare this report and declined to disclosed any operational of fincial information to prepare this report. However, all information obtained is from non-formal sources but clearly originating from the company. The managing director mentioned that since his brother is overseas he is not in a position to provide any details whatsoever and did not commit when his brother will return to Sri Lanka.  

 

The employee strength of the subject company is approximately 90 employees.

 

Since no financial information has been forthcoming from the company, it is not possible to comment on the merits or otherwise of the company.

 

No computerised data bases exist to make checks whether the partners or the company has any legal action or lawsuit initiated against any of them but informal (but not in-depth) checks do not indicate any such cases in the public knowledge.

 

The subject company did not provide any trade reference referrals.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

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

 

 

 

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