MIRA INFORM REPORT

 

 

Report Date :           

13.09.2011

 

IDENTIFICATION DETAILS

 

Name :

ANNAPURNA KNITTING INDUSTRIES

 

 

Registered Office :

Hatkhola, Biratnagar-10

 

 

Country :

Nepal

 

 

Financials (as on) :

31.03.2011

 

 

Year of Establishment :

1990

 

 

Legal Form :

Proprietorship Concern

 

 

Line of Business :

Manufacturer of Knitted Cotton Fabric

 

 

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 :

Partially Correct

 

 

Litigation :

----

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Nepal

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Registered Office & Factory

Annapurna Knitting Industries

HATKHOLA, BIRATNAGAR-10, NEPAL.

Tel. No.             : 0097-1-4354198

E-Mail Id           : annap.thouse@hotmail.com 

Location            : Owned

Area                 : 1 Lac sq.fts

 

 

Information Parted By

Name:             Mr. N K Rarthi

Designation     Proprietor

Mobile No.:      0097-9852026359          

 

 

Company summary

 

Year Established                                   :           1990

 

Legal Status                                          :           Proprietorship Concern

 

Name of Proprietor                                 :           Mr. Nand Kishore Rathi

                                                                        Age                  : 44 Years

                                                                        Qualification      : Graduate

 

Auditors                                                :           Adhikari & Company

 

Staff                                                      :           200

                                               

Bankers                                                :           Nabil Bank, Biratnagar

                                                                        Facilities: Term Loan, Overdraft & Letter of Credit  

                                                           

Total Facility Enjoyed                             :           Fund & Non Fund = NPR 30 Crore                                                                                                                                              

Business                                               :           Manufacturer of Knitted Cotton Fabric

 

Brand Name                                                      Shangrila

 

Types of customers                                :           Manufacturer    

                                   

Importers

                                                                        Product:            Cotton Yarn, dyes & Chemical

Country:            India, Taiwan

 

                       

 

Finance                                                 :          

                                                                        Sales (2009- 2010)         NPR 20 crores.                                                                                                             Sales (2010- 2011)         NPR 20 Crores  (approximately)

 

Trading Terms                                        :           Purchase          -           L/C

                                                                        Sales                -           Cash, Credit

                                   

Trade Reference:-                                                Bottom of Form

Fashion Fabric Exports Private Limited, Biratnagar

Rajat Knitwear , Biratnagar                                            

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.97

UK Pound

1

Rs.74.22

Euro

1

Rs.63.66

 

 

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%)

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.