MIRA
INFORM REPORT
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Report Date : |
28.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
AGRICULTURAL MARKETING CO LIMITED |
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Registered Office : |
Ghagrha, Ghorashal, Palash, Narsingdi, |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
May 1985 |
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Com. Reg. No.: |
C-14182 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacturer,
Sellers, and Exporter of Agricultural Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY DETAILS
Name: Agricultural Marketing
Co Limited
Address: Ghagrha,
Ghorashal,
Palash,
Narsingdi,
Country: Bangladesh
Tel No: 880-2-9563126,
9667482-3
Fax No: 880-2-9559415
E-Mail: pg@prangroup.com
pran@citechco.net
Established: May
1985
Incorporation No: C-14182
Incorporation Date: 15th May 1985
Legal Structure:
The subject is a public
limited company in corporate
With
the Registrar of Joint Stock Companies,
Dhaka,
Business Type:
Manufacturer, Sellers,
Exporter of Agricultural products
Status: Satisfactory
Payments: No complaints have
been heard regarding payments
from local suppliers or banks.
Litigation: NIL
LOCATIONS
Head Office: Property Heights
12,R.K.Mission
Road,
Dhaka-1203,
Tel No: 880-2-9563126,
7167412, 7167416
Fax No: 880-2-
9559415
E-Mail: pg@prangroup.com
pran@citechco.net
Branch: Chittagong
Rangpur
Natore
Factory: Ghagrha,
Ghorashal,
Palash,
Narsingdi,
Warehouse: Ghagrha,
Ghorashal,
Palash,
Narsingdi,
SHAREHOLDER’S AND DIRECTORS
Name: Lt.Col.(rtd)
Mahtabuddin Ahmed
Designation: Chairman
Name: Maj.Gen.
(rtd) Amjad Khan Chowdhury
Designation: Managing Director
Name: Mr.Ahsan Khan
Chowdhury
Designation: Deputy Managing
Director
Name: Mrs.Sabiha Amjad
Designation: Director
Name: Mr.M.Moniruzzaman
Designation: Director
BUSINESS DETAILS
Line of Business: Manufacturer,
Seller, Exporter of Agricultural products
Terms of Sale: 1 Cash
1 Credit
BANKERS
Name: Standard
Chartered Bank
Branch: Main
Branch
Address: Dikusha
Commercial Area,
Dhaka-1000
Name: Commercial Bank of
Ceylon
Branch: Main Branch,
Address: Motijheel
Commercial Area,
Dhaka-1000
Name: HSBC,
Branch: Anchor Tower,
Address: Sonargaon Road,
Dhaka-1205
Name: Bank Asia Limited
Branch: Main Branch,
Address: Motijheel
Commercial Area,
Dhaka-1000
Name: CITI Bank N.A.
Branch: Chamber Building
Branch,
Address: Motijheel
Commercial Area,
Dhaka-1000
Name: Bangladesh Krishi
Bank Limited
Branch: Corporate Office
Branch,
Address: Motijheel
Commercial Area,
Dhaka-1000
Name: AB Bank Limited
Branch: Corporate Office
Branch,
Address: Motijheel
Commercial Area,
Dhaka-1000
Name: Agrani Bank
Limited
Branch: Corporate Branch,
Address: Corporate Branch,
Address: Motijheel
Commercial Area,
Dhaka-1000
FINANCIAL INFORMATION
BALANCE SHEET
As at 30th June 2007
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Net Assets: |
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Property, Plant and Equipment |
265,240,679 |
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Investment at cost |
15,280,000 |
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Current Assets |
676,467,480 |
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Stock |
483,346,039 |
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Trade Debtors |
59,711,981 |
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Advance Deposits & Prepayments |
100,749,301 |
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Cash & Cash Equivalents |
32,660,159 |
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Current Liabilities |
(496,269,678) |
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Current Portion of Long Term Loan |
50,102,521 |
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Short Term Loan from Bank |
413,406,543 |
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Liabilities for Goods |
12,723,372 |
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Liabilities for Expenses |
7,339,692 |
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Liabilities for Other Finance |
15,850 |
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Interest Payable |
817,653 |
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Workers Profit Participation & Welfare Fund 3,534,006 |
3,534,006 |
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Income Tax Payable |
6,519,324 |
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Unclaimed Dividend |
1,810,717 |
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Net Current Assets |
180,197,802 |
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|
Tk.460,718,481
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Financed By |
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Shareholder Equity |
327,927,749 |
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Share Capital |
80,000,000 |
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Share Premium |
40,000,000 |
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Reserve & Surplus |
187,127,749 |
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Proposed Dividend |
20,800,000 |
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Deferred Tax Liability |
18,790,827 |
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Loan Term Debt |
113,999,905 |
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|
Tk.460,718,481
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INCOME STATEMENT
For the year ended 30th June 2007
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Sales |
925,498,835 |
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Cost of Gods Sold |
(715,867,802) |
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Gross Profit |
209,631,033 |
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Expenses: |
(175,185,751) |
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Administrative
& Selling Expenses |
87,462,613 |
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Financial Expenses |
87,723,138 |
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Operating Profit |
34,445,282 |
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Contribution to
Workers Participation & Welfare Funds |
(1,722,264) |
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Net Profit Before Taxation |
32,723,018 |
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Provision for tax: |
(3,391,605) |
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Current Tax |
2,979,638 |
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Deferred tax |
411,967 |
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Net profit After Taxation-Transferred to |
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Statement of
Changes in Shareholders Equity |
Tk.29,331,413 |
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Basic Earning per share |
36.66 |
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Number of shares Used to Compute |
800,000 |
Auditors: M.J.Abedin &
Co
Chartered
Accounts
National
plaza (6th Floor),
1/G,Free
School Street,
Dhaka
CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk.500 million |
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Paid Up Capital |
: |
Tk.80 million |
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Each Share Value |
: |
Tk.100.00 |
EXCHANGE RATE
|
CURRENCY |
UNIT |
BANGLADESHI TAKA |
|
GB Pound |
1 |
137.1626 |
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U.S Dollar |
1 |
69.4000 |
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European Euro |
1 |
108.8231 |
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Japanese Yen |
1 |
0.6729 |
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Australian Dollar |
1 |
65.7102 |
GENERAL INFORMATION
No. of Employees: 320
Executives--------------------4
Junior Executives--------- -6
Engineers---------------------4
Junior Textile Engineers—3
Food Technologist----------4
Quality Control--------- ----10
Supervisory Staffs- -------15
General Staffs--------------10
Technicians- -----------------5
Workers---------------------259
Range of
Products: 1 Litchi Drink
1 Lemon Drink
1 Mango Drink
1 Orange Drink
1 Pineapple Drink
1 Strawberry Drink
1 Banana Juice
1 Fruit Cocktail
1 Guava Juice
1 Vita plus
1 Mango Bar
1 Vita
1 Tea
1 Cola
1 Tamarind Juice
1 Scented Rice
Export To 1 Br
Margoaq At Harbi Trading Est----Saudi Arabia
1 Lanka
Rose Company----------------Jordan
1 Al Qussar
Al Fakish Trading---------Saudi Arabia
Office Area: 5,100
sq.ft (rented)
Factory Area: 2.2
acres lands (own)
Warehouse Area: 5,600
sq.ft.(own)
Stock Code: amcl
Enlisted with: 1 Dhaka
Stock Exchange Limited
1
Chittagong Stock Exchange Limited
Member: 1 Dhaka Chamber of Commerce &
Industries,
Dhaka
Name of the Group: Pran
Group
Subsidiaries: 1 Rangpur Foundry Limited
1 Pran
Foods Limited
1 Pran
Exports Limited
COMMENTS
The subject is a
public limited company engaged in Manufacturer, Sellers, and Exporter
of Agricultural products. The company’s products are of high
quality and their products are equally popular inside the country and in the
overseas market, Specially in the Middle East, where there is a significant
number of NRBs.
The directors are well conversant in their line of trade and
they are also experienced businessman. They are financially solvent and good at
his business commitments, it is reported.
The company is good for normal business engagements.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.43 |
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UK Pound |
1 |
Rs.85.38 |
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Euro |
1 |
Rs.67.95 |
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%)