MIRA INFORM REPORT

 

 

 

Report Date :

15.09.2008

 

IDENTIFICATION DETAILS

 

Name :

BPPNL BHRIKUTI PULP AND PAPER NEPAL LTD.

 

 

Registered Office :

Gaidakot, Newalparasi

 

 

Country :

Nepal

 

 

Financials (as on) :

15.07.2007

 

 

Date of Incorporation :

23.05.1982

 

 

Com. Reg. No.:

21321 / 39

 

 

Legal Form :

Public Limited

 

 

Line of Business :

Manufacturer of Paper and Alide Articles, Importer of Raw Chemicals, Trade Terms with International Match Co. Ltd., Barmuda.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

BPPNL BHRIKUTI PULP AND PAPER NEPAL LTD.

Gaidakot, Newalparasi,

Nepal
Phone: 977-56-21597 / 20266

Fax: 00977-56-21176

e-mail : ktm@golchhha.com

Katmandu Office : New Baneswar, Kathmandu.  Ph.:  977-1471030 / 446150

 

 

Type of Concern            

 

Public Ltd.

 

 

Incorporation No.              

 

21321 / 39

 

 

Incorporation Date           

 

23.05.1982

 

 

Legal Status                  

 

Public Ltd.

 

 

Name of Directors             

 

Director : Mr. H.C. Golchha

Director : Mr. Diwakar Golcha
Director : Mr. R. C. Golcha
Director : Mr. M.L. Golcha

 

 

Auditors                    

 

Raj Kinkar & Co., Kathmandu, Nepal

 

 

Staff                     

 

360

                                   

Bankers                

 

Nepal Bank Limited, Kathmandu, Nepal

Nepal Banijya Bank Ltd., Kathmandu, Nepal
ANZ Grindlays Bank, Kathmandu, Nepal

 

 

Business                    

 

They are manufacturer of paper and alide articles, importer of raw chemicals, trade terms with International Match Co.Ltd., Barmuda.

 

Finance: FINANCIAL:(ABRIDGED)BALANCE SHEET AS ON 15th July, 2007

Liabilities                       Nep. Rupees              Assets                           Nep. Rupees

Authorised Capital          5,000,000

Paidup Capital                 5,000,000              Fixed Assets                     4,542,000

Reserves&Surplus           3,256,000              Cash at Bank                    3,162,000

Secured Loans                  3,218,000               Investments                     1,232,000

Unsecured Loans              1,121,000               Sundry Debtors              3,876,000

Sundry Creditors              1,271,000               Other Assets                   2,267,000

Other Liab.                        1,562,000               Loans&Advances          2,782,000

DeferredTax                      1,936,000               Misc.Expenses               1,047,000

Provisions                          1,594,000 

             __________________________                   ___________________________

                 Total    Nep. Rs     18,908,000                    Total  Nep. Rs.     18,908,000

            ------------------------------------                       -----------------------------------------             

                                                 Sales:- Nep. Rs. 36.87 millions

 

Remarks : Wel established respectable, payments are reported to be correct & regular. It is a golchha group of companies and Nepal’s oldest concern.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.63

UK Pound

1

Rs.83.76

Euro

1

Rs.66.49

 

 

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.

 

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%)

 

 

 

 

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