MIRA
INFORM REPORT
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Report Date : |
04.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAMAL STEEL LTD |
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Registered Office : |
P O Box 10392, Dar Es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
6.04.2004 |
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Com. Reg. No.: |
63127 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers & Distributors of steel bars, and all types of steel
products etc |
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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Maximum Credit Limit : |
USD 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
KAMAL STEEL LTD
Principal Address:
P O Box 10392, Dar Es Salaam, Tanzania
Telephone: +255-22-2862975/ +255 -713624571
Fax:+255-22-2862976
Email
info@kamalsteel.com
Internet
www.Kamalsteel.com
Established
6/4/2004
Registration
No. 63127 Dar Es Salaam, Tanzania
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
300
Office & Factories
Head offices Plot 188 Chang Ombe Road, Ilala, Dar Es
Salaam, Tanzania
Branches None
Company Profile
Paid in Capital TZS. 100,000,000
Subscribed Capital TZS. 100,000,000
Shareholders
Name Position Amount
Ratio
Mr. Gagan Gupta CEO 40.00%
Mr. Sharad Pacchigar Director 30.00%
Mr. Sameer Gupta Director 30.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 150,000 is recommendable
Affiliated Companies
Company (1) BHAKTI EXTRACRION
PVT LTD
Company (2) DHAN LAXMI RE-ROLLING
MILL PVT LTD
Company (3) NILESH STEEL AND
ALLOY PVT LTD
Company (4) SVM ENTERPRISES
PVT LTD
Management/ Directors
President/ CEO (1)
Name Mr. Gagan Gupta
Work
Experience 16 years in this
line of business
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
Sharad Pacchigar
Þ Top decision maker is the person who has the
ultimate authority or power to make important managerial decisions. He/She may
or may not be officially registered as a president or an executive director.
Business Activities
Manufacturers
& Distributors of steel bars, and all types of steel products etc
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Affiliated Companies, and Others
Customers
Industries, construction
companies, hardware stores
Recent Sales
TZS. 4,600,000,000
(2006)
Exports
None
Export Ratio
0.0%
Import Ratio
20.0%
Domestic Market Share
30.0%
Banking relationship
Main Banks EXIM Bank
National Commerce
bank
Credit Check of Subject,
President & CEO (as of report date)
Payment Morale:
In the documents at our disposal nothing
adverse has been shown so far.
CREDIT RATING:
Financial situation is average.
COMMENTS
Maximum credit we recommend is USD 150,000 outstanding at any one time.
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%)