MIRA
INFORM REPORT
|
Report Date : |
02.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
BATA SHOE CO BANGLADESH LIMITED |
|
|
|
|
Registered Office : |
Tongi Industrial Area, Tongi, District : Gazipur |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
31.07.1972 |
|
|
|
|
Com. Reg. No.: |
C - 3782 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Manufacturing and Selling of all types Shoes, Sandals
& Children’s Shoes. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
Bata Shoe Co Bangladesh Limited
Address
Tongi Industrial Area,
Tongi,
District : Gazipur
Telephones : 880-2-9800501-5,
Fax : 880-2-9800511
E-mail : contact@batabd.com
SUMMARY
Established : 1966
Incorporation No. : C-3782
Incorporation Dated : 31st July,1972
Managing Director & CEO : Mr. J. D. Hearns
Employees
39,950
Executives- 22
Junior Executives- 342
Engineers- 32
Junior Engineers- 48
Tanners— 31
Junior Tanners- 68
Quality Control- 252
Supervisory Staffs- 522
Support Staffs- 945
Sales Staffs- 27,600
General Staffs- 1,962
Technicians- 380
Workers- 7,746
BANK
Standard Chartered Bank
Dilkusha Commercial Area,
Agrani Bank
Motijheel Commercial Area,
Sonali Bank
Motijheel Commercial Area,
Eastern Bank Limited
Dilkusha Commercial Area,
Islami Bank Bangladesh Limited,
Motijheel Commercial Area,
BRANCH
Sylhet
Rangpur
Rajshahi
Mymensingh
Jessore
Barishal
Comilla
Narayanganj
Dinajpur
NUMBER OF RETAIL SHOPS
4,600
FACTORY
Tongi Industrial Area,
District : Gazipur,
Dhamrai,
TANNERY
Dhamrai,
OFFICE AREA
5,000 sq.ft.(own)
FACTORY AREA
15 acres land (own)
TANNERY AREA
86,700 SQ.FT (own)
WAREHOUSE AREA
25,500 sq.ft (rented)
DIRECTORS
Mr.Jorge Carbajal - Chairman
Mr.J.D.Hearns - Managing Director
Mr.Mike Middleton
Mr.Rashidul Hasan
Mr.Rukonuddin Mahmud
HISTORY
The subject was established by Bata Shoe Company of
BUSINESS
The company is engaged in manufacturing and selling of all types shoes, sandals & children’s shoes.
Men’s Shoes & Sandals
Ladies Sandals
Children’s Shoe & Sandals
EXPORT TO
Middlestern Countries
NAME OF BRAND
B. First
Bata
Bubble Gummers
D.R. Schools
Hawaianaz
Hush Poppies
Marie Claire
North Star
Power
Sandak
Weinbrenngk
TERMS OF SALES
Cash
Credit
NAME OF GROUP
NIL
SISTER CONCERN
NIL
MEMBER
Dhaka Chamber of Commerce & Industries,
LISTED WITH
LEGAL FORM
The subject is a public limited company incorporated with the Registrar of Joint Stock of Companies Dhaka.
BALANCE SHEET
At 31 December,2006
|
Property plant and equipment : |
Taka |
|
At cost or valuation less depreciation |
369,041,861 |
|
|
|
|
Capital work in progress |
43,543 |
|
Deferred tax assets |
15,083,000 |
|
Current assets : |
|
|
Inventories |
988,672,069 |
|
Accounts receivable |
116,048,919 |
|
Advances, deposits and prepayments |
155,809,631 |
|
Cash and cash equivalents |
402,212,188 |
|
|
1,662,742,807 |
|
Current liabilities and provisions : |
|
|
Creditors for goods |
199,250,349 |
|
Creditors for expenses |
308,182,517 |
|
Creditors for other finance |
107,723,807 |
|
Provision for tax |
392,175,426 |
|
Unpaid dividend |
72,536,366 |
|
|
1,079,868,465 |
|
|
|
|
Net current assets |
582,874,342 |
|
|
|
|
Non current liabilities : |
|
|
Deferred liability |
148,106,254 |
|
Finance Lease |
226,328 |
|
|
148,332,582 |
|
Net total assets |
818,710,164 |
|
Financed by : |
|
|
Shareholder’ equity : |
|
|
Share capital |
136,800,000 |
|
Reserve and surplus |
538,270,164 |
|
Proposed final dividend |
143,640,000 |
|
|
818,710,164 |
|
|
|
|
|
|
|
|
|
|
PROFIT & LOSS ACCOUNT |
|
|
At 31 December,2006 |
|
|
|
Taka |
|
Turnover |
3,872,267,793 |
|
Less : Cost of goods sold |
2,330,513,983 |
|
Gross profit |
1,541,753,810 |
|
Less : Administration, selling and distribution expenses |
1,138,375,331 |
|
|
403,378,479 |
|
Add : Other income |
26,356,320 |
|
|
429,734,799 |
|
Less : Worker’s profit participation fund |
21,486,740 |
|
Profit before tax |
408,248,059 |
|
Tax expenses/ (income) : |
|
|
Current tax |
134,000,000 |
|
Deferred tax |
(2,774,000) |
|
|
131,226,000 |
|
Profit after tax |
277,022,059 |
|
|
|
|
Unappropriated profit, bought forward |
472,235,302 |
|
Adjustment in respect of earlier years |
------ |
|
|
472,235,302 |
|
Profit available for appropriation |
749,257,361 |
|
Appropriation : |
|
|
Dividend- |
|
|
Interim |
177,840,000 |
|
Proposed final |
143,640,000 |
|
|
321,480,000 |
|
Unappropriated profit, carried forward |
427,777,361 |
|
|
|
|
Basic earnings per share (per value Tk.10 |
20.25 |
AUDITOR
Rahman Rahman Huq
9,Mohakhali Commercial Area (11th Floor),
Dhaka-1212,
CAPITAL STRUCTURE
Authorized Capital Tk.200 million
Paid up Capital Tk.136.8 million
Each share value Tk.10.00
EXCHANGE RATE
GB Pound 1.00=Tk.129.1870
US Dollar 1.00=Tk. 68.6654
Japanese Yen 1.00=Tk. 0.5831
Australian Dollar 1.00=Tk. 52.3228
COMMENTS
The subject is a public limited company engaged in manufacturing and selling of shoes & ladies sandals and related accessories. The company has got detail shops in all the places of the countries and they are the most popular company.
The subject is a wholly owned subsidiary of Bata Shoe Company
of
The managing director is a senior executive of parent company who knows his job well.
The company is good for normal business engagements.
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)