MIRA
INFORM REPORT
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Report Date : |
08.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
Navana Industries Limited |
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Registered Office : |
Islam Chamber (8th Floor), 125/A, Motijheel
Commercial Area, Dhaka-1000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
11th March, 1982 |
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Com. Reg. No.: |
C-9853 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in manufacturing and selling of Jute Mills Spares and
Accessories. |
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 : |
Regular |
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Litigation : |
Clear |
Report on
Navana Industries Limited
Address
Islam Chamber (8th Floor),
125/A, Motijheel Commercial Area,
Dhaka-1000,
Bangladesh
Telephones : 880-2-9552423, 9551392, 9566303-5
Fax : 880-2-9566311
E-mail : essential@aitlbd.net
SUMMARY
Established :
March, 1982
Incorporation
No. :
C-9853
Incorporation
Dated : 11th
March, 1982
Managing
Director & CEO :
Mr. Manjurul Islam Chowdhury
Employees
70
Executives- 2
Junior
Executive- 4
Engineers- 3
Quality
Control- 6
Supervisory
Staffs- 10
Support
Staffs- 5
General Staffs- 10
Technicians- 8
Workers- 22
BANK
Janata
Bank
Corporate Branch,
Motijheel
Commercial Area,
Dhaka
IFIC Bank Limited
Head Office,
Motijheel Commercial Area,
Dhaka
BRANCH
NIL
FACTORY
Rupashi,
Rupganj,
District : Narayanganj
OFFICE AREA
2,300
sq. ft.(own)
FACTORY AREA
45,000
sq. ft (own)
WAREHOUSE AREA
3,900
sq. ft (own)
DIRECTORS & SHAREHOLDERS
Mr. Manjurul Islam Chowdhury -Chairman & Managing Directors
Mr.
Faruque Chowdhury
Mr.
Rahim Chowdhury
HISTORY
Subject was established in March,1982 by
Mr.Manjurul Islam Chowdhury and the other directors in Dhaka city having its
factory at Rupashi, Rupganj, district : Narayanganj.
BUSINESS
The company is engaged in manufacturing and selling
of Jute Mills Spares and Accessories.
RANGE OF PRODUCTS
Jute Mills Spares & Accessories
RAW MATERIALS FROM
1 China
1 Hong Kong
1 Egypt
1 Thailand
1 Malaysia
TERMS OF SALES
1 Cash
1
Credit
NAME OF GROUP
Islam Group
SISTER CONCERN
1 Aftab Feed Products Limited,
1 Navana Limited,
1 Aftab Bhahumukhi Farms Limited,
1 Aftab Hatchery Limited,
1 Navana Pharmaceuticals Limited,
1 Islam brohers Pvt Limited,
1 Dacca Fibre Limited,
1 Navana Real Estate Limited,
1 Jahurul Islam Medical College &
Hospital,
MEMBER
1
Dhaka Chamber of Commerce & Industries, Dhaka.
LEGAL FORM
Subject is a private limited company
incorporated with the Registrar of Joint Stock of Companies Dhaka.
FINANCIAL INFORMATION
2006 2005 2004
Capital
Invested Tk.35 million Tk.28
million Tk.28 million
Turnover
Tk.380 million Tk.379 million Tk.378.2 million
Liability Tk.10 million Tk.11 million Tk.11.9 million
Fixed
Assets Tk.70 million Tk.70 million Tk.70 million
CAPITAL STRUCTURE
Authorized
Capital Tk.20 million
Paid
up Capital Tk.250,
000.00
Each
share value Tk.100.00
each
EXCHANGE RATE
GB
Pound 1.00=Tk.140.1706
US
Dollar 1.00=Tk. 69.4850
Europe
Euro 1.00=Tk. 94.9041
Japanese
Yen 1.00=Tk. 0.5712
Australian
Dollar 1.00=Tk.
59.7270
COMMENTS
Subject is a private limited company who is
engaged in manufacturing and selling of Jute Mills Spares and Accessories.
Qualities of their products are good and they are well known in local Jute
Mills industries.
Directors are well conversant in their line of
trade and they are also experienced businessman.
The company is good for normal business
engagements.
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. |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)