MIRA
INFORM REPORT
|
Report Date : |
07.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHINEPUKUR CERAMICS LIMITED |
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Registered Office : |
BEL Tower, Level # 12, 19 Dhanmondi, Road# 1, Dhaka-1205 |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2011 |
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Year of Establishment : |
1997 |
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Legal Form : |
Public Limited |
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Line of Business : |
Manufacturer & Exporter of Ceramic Products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 : |
US$ 30,000.00 |
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|
|
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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 – 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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
COMPANY DETAILS
|
Name |
Shinepukur
Ceramics Limited |
|
Address |
BEL Tower,
Level # 12, 19 Dhanmondi, Road# 1, Dhaka-1205 |
|
Country |
Bangladesh |
|
Telephone No |
880-2- 8611891, 8618220 |
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Fax No |
880-2- 9661978,
8613470 |
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E-Mail |
|
|
Website |
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Established |
1997 |
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Commercial Production From |
1999 |
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Enlisted As Public Limited Company |
2008 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The
Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer,
Seller & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
LOCATIONS
|
Head Office |
BEL
Tower, Level # 12, 19
Dhanmondi, Road# 1, Dhaka-1205 |
|
Telephone No |
880-2- 8611891, 8618220 |
|
Fax No |
880-2- 9661978,
8613470 |
|
E-Mail |
|
|
Website |
|
|
Dhaka Display and Sales Centre |
FR Tower, 1st
Floor,32 Kamal Ataturk Avenue Phone : 880-2-8815093,
01199804018 E-mail : display@bol-online.com |
|
USA Office |
Suite 947 Phone : +212-213-6431 Fax : +212-213-6159 Email : spclusa@aol.com |
|
Factory |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur, Bangladesh |
|
Factory Telephone No |
880-2-7789821,7789823 |
|
Factory Fax No |
880-2-7789823 |
|
Warehouse |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur, Bangladesh |
DIRECTORS
|
Name |
Mr. A S F Rahman |
|
Designation |
Chairman |
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Nationality |
Bangladeshi |
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|
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|
Name |
Mr. Salman F Rahman |
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Designation |
Vice-Chairman |
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Nationality |
Bangladeshi |
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|
|
|
Name |
Mr. Nazmul Hassan |
|
Designation |
Managing
Director |
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Nationality |
Bangladeshi |
SHAREHOLDERS
|
Name |
Sponsor
Directors |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
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|
|
|
Name |
Institutes |
|
Share Percent |
2.6% |
|
Country |
Bangladesh |
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|
|
|
Name |
Public |
|
Share Percent |
47.4% |
|
Nationality |
Bangladeshi |
BUSINESS DETAILS
|
Line of Business |
Manufacturer
& Exporter |
|
Items Dealing In |
Ceramic Products |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of
Purchase |
Local: Cash or Credit |
BANKERS
|
Name |
Sonali Bank Ltd |
|
Branch |
Gazipur Branch |
|
Address |
Gazipur |
|
SWIFT |
N/A |
|
|
|
|
Name |
Southeast Bank Ltd |
|
Branch |
Dhanmonfi Branch |
|
Address |
Dhanmondi R/A, Dhaka |
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SWIFT |
N/A |
FINANCIAL INFORMATION
Shinepukur
Ceramics Limited
Balance Sheet (Un-audited)
As at 30 June 2011
Currency: Taka in ‘000
|
NET ASSETS: |
2011 |
|
Non-Current Assets |
3,960,207 |
|
Property, Plant and Equipment |
2,886,824 |
|
Investment in Shares |
262,286 |
|
Capital Work in Progress |
811,097 |
|
Current Assets |
1,782,054 |
|
Inventories |
886,352 |
|
Trade Debtors |
537,874 |
|
Advances and Deposits |
320,839 |
|
Cash and Cash Equivalents |
36,989 |
|
Current Liabilities and Provisions |
1,521,927 |
|
Short Term Loan from Banks (Secured) |
959,538 |
|
Long Term Loan-Current Maturity (Secured) |
218,644 |
|
Creditors, Accruals and other Payables |
230,796 |
|
Income Tax Payable |
112,949 |
|
Net Current Assets |
260,127 |
|
|
4,220,334 |
|
FINANCED BY: |
|
|
Shareholders’ Equity |
2,838,714 |
|
Share Capital |
1,111,275 |
|
Fixed Assets Revaluation Surplus |
1,354,285 |
|
Retained Earnings-As per Statement of Changes in Equity |
373,154 |
|
Non-Current Liabilities |
1,381,620 |
|
Long Term Loan Secured (Net-off Current Maturity) |
411,318 |
|
Long Term Loan |
956,410 |
|
Deferred Tax Liability |
13,892 |
|
|
4,220,334 |
Shinepukur
Ceramics Limited
Profit And Loss Account (Un-audited)
For the Half Year ended 30 June 2011
Currency: Taka in ‘000
|
|
2011 |
|
Revenue (Turnover) from net sales |
940,372 |
|
Cost of Goods Sold |
604,946 |
|
Gross Profit |
335,426 |
|
Operating Expenses: |
49,700 |
|
Administrative Expenses |
21,113 |
|
Selling & Distribution Expenses |
28,587 |
|
Operating Profit |
285,726 |
|
Financial
Expenses |
(151,434) |
|
Net Profit Before Cont. to WPWF |
134,292 |
|
Contribution to Workers’ Participation/Welfare Fund |
6,395 |
|
Net Profit Before Tax |
127,897 |
|
Income Tax Expenses |
21,142 |
|
Net Profit After
Tax Transferred to Statement of Changes in Equity |
106,755 |
|
EPS (Face Value per Share is Tk. 10.00) |
0.96 |
|
Number of Shares (‘000) used to compute EPS |
111,128 |
Auditors: M/S M. J. Abedin & Co, Chartered Accountants
National Plaza (3rd Floor), 109, Bir Uttam C R Datta Road, Dhaka-1205
CAPITAL STRUCTURE
|
Authorized
Capital |
Tk. 5,000 million |
|
Paid Up Capital |
Tk. 1,111 million |
|
Each Share Value |
Tk.10.00 |
EXCHANGE RATE
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
121.2861 |
|
U.S Dollar |
1 |
75.9700 |
|
European Euro |
1 |
105.5983 |
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$ 30,000.00 |
90 days |
GENERAL INFORMATION
|
Employees |
3,000 |
|
Office Area (Sq.
Ft) |
3,500 sq.ft (owned) |
|
Factory Area
(Sq. Ft) |
588,000 sq.ft (owned) |
|
Warehouse Area
(Sq. Ft) |
5,800 sq.ft (owned) |
|
Range of
Products |
4 Bone
China Tableware 4
Porcelain Tableware |
|
Export
Market |
4 UK 4 USA 4 Spain 4 Italy 4 Australia 4 New Zealand 4 Norway 4 Sweden 4 Russia 4 UAE 4 Denmark 4 Germany 4 France 4 Mexico 4 Turkey 4 India |
|
Certifications |
4 ISO 9001:2008 |
|
Group Name |
4 Beximco Group |
|
Subsidiaries /
Affiliates |
4 Beximco Pharmaceuticals Ltd 4 Bangladesh
Antibiotics Industries Ltd. 4 Pharmatek
Chemicals Ltd. 4 Bextex Ltd. 4 Beximco Fashions
Ltd. 4 Beximco
Apparels Ltd. 4 International
Knitwear & Apparels Ltd. 4 Crescent
Fashions Ltd. 4 Essess Fashions
Ltd. 4 Bangladesh
Export Import Co Ltd. 4 Beximco
Engineering Ltd. 4 Beximco
Property Development & Management Ltd. 4 New Decca
Industries Ltd 4 Bangladesh
Online 4 Beximco
Computers Ltd. 4 Beximco Media
Ltd. 4 Beximco
Synthetics Ltd. 4 GMG Airlines
Ltd. 4 Beximco
Petroleum Ltd. 4 Beximco
Holdings Ltd. 4 Beximco
Securities Ltd. 4 Sonali Ansh
Ltd. 4
Bextrade Ltd.
|
|
Member |
4 Bangladesh Ceramic Ware Manufacturers Association, Dhaka 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
|
Enlisted With |
4 Dhaka
Stock Exchange (DSE) 4
Chittagong Stock Exchange (CSE) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
|
1 |
Rs.78.65 |
|
Euro |
1 |
Rs.67.79 |
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 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.