MIRA INFORM REPORT

 

 

Report Date :

29.12.2012

 

IDENTIFICATION DETAILS

 

Name :

JAGDAMBA ENTERPRISES P LTD.

 

 

Registered Office :

104, Ganesh Apartment Rsom Kothi, Birgunje

 

 

Country :

Nepal

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

03.02.2003

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer of Electric Resistance Welding Pipe, TMT Pipe, Cement

 

 

No. of Employees :

300

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

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 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Nepal

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Nepal - ECONOMIC OVERVIEW

 

Nepal is among the poorest and least developed countries in the world, with with about one-third of its population living below the poverty line. Agriculture is the mainstay of the economy, providing a livelihood for three-fourths of the population and accounting for about one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Nepal has considerable scope for exploiting its potential in hydropower, with an estimated 42,000 MW of feasible capacity, but political instability hampers foreign investment. Additional challenges to Nepal's growth include its landlocked geographic location, civil strife and labor unrest, and its susceptibility to natural disaster.

 

Source : CIA

 

 

 

Company Identification Details

 

Enquired Name

:

Jagdamba Enterprises P Ltd.

Correct Name of Company

:

JAGDAMBA ENTERPRISES P LTD.

Registered Office/Factory

:

104, Ganesh Apartment

Rsom Kothi, Birgunje, Nepal
Phone: 021-520090,
Fax: 021-525374
Email: http://s-yoolk-email-images.yoolk.com/101e863acc0b894099296f1bfa2d014654272a3a589fb1f05948dab.gif

PAN No.

:

500218198

Industry

:

Electric

Nature of Activity

:

(Manufacturer of Electric Resistance Welding Pipe, TMT Pipe, Cement)

 

Official Company Data

 

Legal Form

:

Private Limited Company

Corporate Identity Number (CIN)

:

65212

ROC Code 

:

Kathmandu

Registration Date

:

03.02.2003

Issuing Authority

:

Registrar of Companies (ROC)

Employee

:

300

Business Activity / Product

Description

:

(Manufacturer of Electric Resistance Welding Pipe, TMT Pipe, Cement)

Auditor

:

N. K. Tuladhar & Sons., Kathmandu, Nepal

 

Bankers

:

Bank of Kathmandu, Nepal

 

Nepal Grindlays Bank Ltd., Kathmandu, Nepal.

 

Nepal Investment Bank, Birgunj Branch

 

Himalayan Bank Limited, Birgunj Branch

Importer of:

 

Raw material

 

Country: India

 

 

Board of Directors

 

Mr. Sankar Lal Agarwal

Mr. Ramesh Agarwal

Mr. Sulav Agarwaal

Mr. S. K. Agarwal

 

Share Holder :

 

Directors, relatives and friends hold all share.

 

Capitalization Structure

 

Authorized Share Capital

:             

30,000,000/- (3,000,000./ Equity Shares of Rs.10/- each)

Issued, Subscribed & Paid Up Capital

:

Paidup : 14,672,000/- (14,672,00/- of Rs.10/- each)

 

 

Financial

                       

BALANCE SHEET AS AT 31.03.2011

 

 

 

 

 

Liabilities

Amount (Rs.)

 

Assets

Amount (Rs.)

Paid Up Capital

14,672,000

 

Fixed Assest

5848248

Secured Loan

27,721,697

 

Investments

4,731,477

Unsecured Loan

3,676,994

 

Inventories

30,000,000

 

 

 

Cash & Bank

5,103,766

 

 

 

Sundry Debtors

387,200

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

46,070,691

 

 

46,070,691

 

 

 

 

 

 

Rs.

 

 

 

Sales

28,863,138

 

 

 

Expenditure

2,007,910

 

 

 

Profit Before Tax

21,763

 

 

 

Profit After Tax

17,125.00

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.85

UK Pound

1

Rs.88.40

Euro

1

Rs.72.63

 

INFORMATION DETAILS

 

Information Gathered by :

PJA

 

 

Report Prepared by :

SDA

 

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.