MIRA
INFORM REPORT
|
Report Date : |
07.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
BERGER PAINTS BANGLADESH LIMITED |
|
|
|
|
Registered Office : |
Berger House, House No.8, Road No.2, Sector-3, Uttara Model Town, Dhaka-1230 |
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|
|
|
Country : |
Bangladesh |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Year of Establishment : |
1950 |
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|
|
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Com. Reg. No.: |
CH-39974 |
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|
|
|
Legal Form : |
Public Limited |
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|
|
|
Line of Business : |
Manufacturer & Seller of Paints, Varnishes and Coatings |
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|
|
|
No. of Employees : |
700 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 35,000.00 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
COMPANY DETAILS
|
Name |
Berger Paints Bangladesh Limited |
|
Address |
Berger House,
House No.8, Road No.2, Sector-3, Uttara Model Town, Dhaka-1230 |
|
Country |
Bangladeshi |
|
Telephone No |
880-2-8953665 |
|
Fax No |
880-2-8951350 |
|
E-Mail |
|
|
Website |
|
|
Established |
1950 |
|
Company Registration No |
CH-39974 |
|
Registration date |
18th
June 2005 (As Public Limited Company) |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The Registrar of Joint Stock Companies & Firms, Chittagong |
|
Business Type |
Manufacturer & Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from local
suppliers or banks. |
LOCATIONS
|
Registered Address |
43/3, Chatteswari
Road, GPO.Box No. 353, Chittagong-4000 |
|
Telephone No |
880-31-615893-4,
620960 |
|
Fax No |
880-31-620507 |
|
E-Mail |
|
|
Website |
|
|
Corporate Office |
Berger House,
House No.8, Road No.2, Sector-3, Uttara Model Town, Dhaka-1230 Phone : 880-2-8953665 |
|
Sales Office |
Dhaka Depot & Sales Office 272
Tejgaon Industrial Area, Dhaka-1208 Phone :
02-9897717 (Hunting), 02-9892708 Fax :
02-8825770 Chittagong Sales Office 43/3,
Chatteswari Road, Chittagong-4000 Phone :
031-615893-4, 031-620960 Fax :
88-031-620507 Rajshahi Sales Office 1458,
Ramchandrapur, P.O.: Ghoramara Thana,
Boalia, Rajshahi, Phone :
0721-773512 Khulna Sales Office Shabuj
Baag 2 K.D.A Approach Road, Sonadanga Khulna-9000 Phone :
041-722262 Bogra Sales Office 31, Piari
Sanker Street, Katnar Para, Bogra-5800 Phone :
051-62567 Sylhet Sales Office 70,
Antarango, Shahi Eidgah, (Supply Road) Kazitulla,
Sylhet-3100 Phone :
0821-2831237 Comilla Sales Office 576,
Laksham Road (Opposite New Hostel) Comilla-3500 Phone :
081-63403 Mymensingh Sales Office 304,
Maskanda, Mymensingh-2200 Phone :
091-51754 |
|
Factory |
Dhaka Factory Mouja-
Taksur, Nabinagar, Savar, Dhaka Phone No:
880-2-7708450 Fax No:
880-2-7708091 Chittagong Factory 27-D, FIDC
Road, Kalurghat Heavy Industrial Area, Chittagong-4212 Phone No:
880-31-670472 Fax No:
880-2-671639 |
|
Factory Telephone No |
N/A |
|
Factory Fax No |
N/A |
|
Warehouse |
Dhaka Factory Mouja-
Taksur, Nabinagar, Savar, Dhaka Phone No:
880-2-7708450 Fax No:
880-2-7708091 Chittagong Factory 27-D, FIDC
Road, Kalurghat Heavy Industrial Area, Chittagong-4212 Phone No:
880-31-670472 Fax No:
880-2-671639 |
DIRECTORS
|
Name |
Mrs. Rupali Chowdhury |
|
Designation |
Chairman &
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abdul Khalek FCA |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
|
|
Designation |
Director |
|
Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Sponsors
|
|
Share Percent |
95.00% |
|
Country |
Bangladesh |
|
|
|
|
Name |
Institutions
|
|
Share Percent |
2.80% |
|
Country |
Bangladesh |
|
|
|
|
Name |
General
Public |
|
Share Percent |
2.20% |
|
Country |
Bangladesh |
BUSINESS DETAILS
|
Line of Business |
Manufacturer & Seller |
|
Items Dealing In |
Paints,
Varnishes and Coatings |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit |
BANKERS
|
Name |
Standard
Chartered Bank |
|
Branch |
Main Office
Branch |
|
Address |
Motijheel Commercial Area, Dhaka |
|
SWIFT |
N/A |
FINANCIAL INFORMATION
Balance
Sheet
As
At 31 March 2011
|
Assets |
2011 |
|
Current Assets: |
|
|
Inventory
|
1,029,605 |
|
Debtors
|
339,354 |
|
Advances,
deposits & prepayments |
70,218 |
|
Inter-company
balance |
13,886 |
|
Cash
and bank balances |
966,628 |
|
Total current
assets |
2,419,691
|
|
Non-current
Assets: |
|
|
Fixed
assets, net |
674,455 |
|
Capital
work-in-progress |
12,183 |
|
Investments
- at cost |
100 |
|
Total non-current
assets |
686,738
|
|
Total Assets |
3,106,429
|
|
Current
Liabilities: |
|
|
Creditors
and accruals |
710,181 |
|
Provisions
|
335,901 |
|
Other
Current Liabilities |
105,021 |
|
Total current
liabilities |
1,151,103
|
|
Non-current
liabilities: |
|
|
Employees'
retirement gratuity |
4,170 |
|
Tax
equalization reserve |
82,675 |
|
Total non-current
liabilities |
86,845
|
|
Total Liabilities
|
1,237,948
|
|
Equity: |
|
|
Share
capital |
231,890 |
|
Reserves
and surplus |
125,068 |
|
Retained
Earnings |
1,511,523 |
|
Total Equity |
1,868,481
|
|
Total Liabilities
and Equity |
3,106,429
|
|
BVPS |
80.58
|
Income
Statement
For
31 March 2011
|
|
2011 |
|
Sales - net |
7,128,035
|
|
Cost
of sales |
4,633,223 |
|
Gross profit |
2,494,812
|
|
Operating
Expenses |
1,448,199 |
|
Other
operating charges |
66,925 |
|
Other
operating income |
81,139 |
|
Gross operating
profit |
1,060,826
|
|
Contribution
to WPP&WF (5% of gross operating profit) |
53,041 |
|
Net operating
profit |
1,007,785
|
|
Dividend
income |
10,000 |
|
Other
non-operating income |
1,413 |
|
Profit before tax
|
1,019,198
|
|
Provision
for current tax |
262,443 |
|
Tax
equalization reserve |
12,000 |
|
Profit after tax |
744,755
|
|
No. of shares
outstanding |
23,189
|
|
EPS |
32.12
|
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
121.2584 |
|
U.S Dollar |
1 |
78.0000 |
|
European Euro |
1 |
104.5526 |
ADVERSE DATA MONITORING
|
Dishonored
Checks |
No Found |
|
Debt |
No Records Found |
|
Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
|
Adverse Press
Coverage |
No Records Found |
|
Money Laundering |
No Records Found |
MAXIMUM RECOMMENDED CREDIT
|
Amount |
Based On |
|
US$ 35,000.00 |
90 Days |
GENERAL INFORMATION
|
Employees |
700 |
|
Office Area (Sq.
Ft) |
7,500 sq.ft (rented) |
|
Factory Area
(Sq. Ft) |
60,400 sq.ft (rented) |
|
Warehouse Area
(Sq. Ft) |
3,800 sq.ft.(rented) |
|
Range of Products |
4 Decorative 4 Industrial 4 Marine 4 Powder Coating 4 Adhesive 4 Textile
Products 4 Brush &
Roller 4 Pre-Treatment
Chemicals 4 Auto Refinish 4 Wood Coating |
|
Certifications |
NIL |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
4 Jenson &
Nicholson (Bangladesh) Limited |
|
Stock Code |
4 BERGERPBL |
|
Enlisted With |
4 Dhaka Stock Exchange Limited, Dhaka 4 Chittagong Stock Exchange Limited, Dhaka |
|
Member |
4 Dhaka Chamber of Commerce & Industries, Dhaka |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.39 |
|
|
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.68.92 |
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 |
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 |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SCs 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.