MIRA
INFORM REPORT
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Report Date : |
02.03.2011 |
IDENTIFICATION DETAILS
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Name : |
BHUTAN FERRO ALLOYS LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Year of Establishment : |
April, 1995 |
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Com. Reg. No.: |
69221/46/47 |
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Legal Form : |
Limited Company |
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Line of Business : |
Ferro Alloys Producers |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name and address
BHUTAN FERRO
ALLOYS LTD.
Post Box Number 211,
Email contact@bhutanferroalloys.com
Telephone No. 00-975-5-252246, 252417/252415
Fax No: 00-975-5-252282/252712
Summary
Year Established : April, 1995
Incorporation. No. : 69221/46/47
Legal Status : Limited
Name of Directors :
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Sl.No. |
Name |
Designation |
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1. |
Tobgay Dorji |
Director |
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2. |
Desho Sonan Tasherine |
Director |
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3. |
Lam Dorji |
Director |
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4. |
Y. Chung |
Director |
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5. |
D. K. Dorji |
Director |
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6. |
C. Chunge |
Director |
Major Shareholders : Bhutan Government, Tashi Group,
Marubeni Corporation
Auditors : Y.
Staff : 235 nos.
Bankers : Bank of
Business : Bhutan Ferro Alloys Limited (BFAL) is
a joint venture of the Royal Government of Bhutan, Marubeni Corporation and
Tashi Commercial Corporation, the largest private Company in
BFAL was established in the year 1990 as per the Companies act of
The state of the art production facility uses high quality of raw materials.
Gas Coke and Electrode Paste from
The Plant gets an uninterrupted power supply of 66Kv from the sub-station of
the Royal Government of Bhutan, which is being stepped down to 22 KV/11 KV for
the main furnace and the auxiliaries.
The Plant has an installed capacity to produce 18000 tons of Ferro Silicon.
However, it has been consistently producing quality grade of Ferro Silicon
about 21000 tons per year. In addition to FeSi, the plant is producing about
2400 tons of Magnesium Ferro Silicon, a value added product for the SG Iron
castings. The Plant is also producing about 4200 ton of Silica Fume per year
under the brand name of “ Micro Silica”, a technical collaboration with Elkem
Asa Material,
Most of the above products are being sold to the Indian market, but some
quantities of Ferro silicon and Micro silica are being sold to the Japanese,
US, Singaporean and Chinese markets. Steps have been taken to market Magnesium
Ferro Silicon to the international market.
In order to consolidate its position as one of the major Ferro alloys
producers, the Company has already finalized the order for procuring an 18 MVA
smelting furnace to produce other Silicon and manganese alloys. The proposed
expansion will be commissioned sometime during end of 2005.
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Products |
Standard Grade |
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Ferro Silicon |
Si 45-50% /60-65%/ 70-75%/ 75-80% |
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Al 1.50% / 2% (max) |
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C 0.15% ( max) |
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S 0.05% (max) |
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P 0.05% ( max) |
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Magnesium Ferro Silicon |
Si 44-50% |
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Mg. 8-10%/ 6-8%/ 5-7% |
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Ca 0.8-1.2% |
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Al 1%/ 1.2% |
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Re 0.8-1% |
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Micro Silica |
LOI |
3.5% |
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SiO2 |
85% |
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Fe2O3. |
1.5% |
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Al2O3 |
1% |
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MgO |
1.5% |
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Moisture |
1% |
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Bulk density |
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Undensified |
200-350 kg/M3 |
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Densified |
500-650 kg/M3 |
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Inport :
Finance :
Business may be done Euro 150000.00.
Remarks :Trading Terms – Purchase - L/C
– 30 days ; Credit – 30 days
Sales - L/C – 30 days ; Credit – 30 days
Well established, respectable and reputed
concern, payments are reported to be correct and regular at usal trade terms
and condition for euro 350,000.00
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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1 |
Rs.73.43 |
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Euro |
1 |
Rs.62.32 |
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 |
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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NB |
New Business |
-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.