MIRA INFORM REPORT

Report Date :

04.07.2012

IDENTIFICATION DETAILS

Name :	JYOTI SHREE NEPAL PVT. LTD.
Registered Office :	P.O. Box No. 2829, Radha Bhawan, Tripureswore, Kathmandu
Country :	Nepal
Financials (as on) :	31.03.2011
Date of Incorporation :	04.11.2009
Com. Reg. No.:	67223
Legal Form :	Nepal Public Limited Company
Line of Business :	Trader & Importers of construction materials
No. of Employees :	32

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 :	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 – March 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Nepal	B1	B1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Identification Details

Enquired Name	:	Jyoti Shree Nepal Pvt. Ltd.
Correct Name of Company	:	Jyoti Shree Nepal Pvt. Ltd.
Registered Office	:	P.O.Box No. 2829, Radha Bhawan, Tripureswore, Kathmandu, Nepal Phone:977-1-4244010,4254568,4263718      Fax: 977-1-4263694,4220494 Location: Owned
Email Id	:	info@jyotishreenepal.com
Web	:	www.jyotishreenepal.com
Office	:	As above
Industry	:	Traders
Nature of Activity	:	Importers and Traders

Official Company Data

Legal Form	:	Nepal Public Limited Company
Corporate Identity Number (CIN)	:	67223
ROC Code	:	Kathmandu
Registration Date	:	4.11.2009
Bankers	:	HSBC, Kathmandu Himalayan Bank, Kathmandu Nepal Bank Ltd. Kathmandu
Import from	:	Japan, Koria, Germany, China, USA & Other European countries
Issuing Authority	:	Registrar of Companies (ROC)
Authorised Capital	:	Rs. 5,000,000.00
Paid-up Capital	:	Rs. 2,616,680.00
Business Activity / Product Description	:	Aiming to establish long term stable business relationship with our valued customers, we believe in offering the latest, timely and effective solutions to our customer ,not only in term of cost and quality ,but also applications support, products advice and full technical back-up to match the developmental goals of our valued clientele. We also provide tailor made solutions to meet the specific customer's requirement besides providing wide product range and quick installation service through our dedicated team of technical personnel. The company has extensive plans to setup a network of dealers and strategically located marketing offices throughout India and Nepal to service our customers. We wish to promote "SHAKTI" as a brand name-a measure of innovation in state of art precision tools. We have established ourselves as leading importers and suppliers of complete range of construction materials. An integral part of the shakti Group of companies, Jyoti Shree Nepal private limited is managed by a team of professionally qualified techno commercial personnel. Operations of the group started about two decades back from Nepal where it established the importing and trading base subsequently developing it into project order supplies and contractors for most of the projects of the Nepal. Jyoti Shree Nepal Private Limited lays high emphasis in quality, innovation and customer satisfaction, to become the leader in this line of business. The products conform to international quality standard and their demand is high in the global market. OPERATION The company has interest in wide areas of operation in an endeavor to meet its prestigious client's requirement. Presently the company deals in the following:  Supply all types of construction materials  Import of various construction materials , tools , tackles and equipments  Import of equipments and Spares for Hydro Power Projects  Project Order Supplies  Infrastructure outsourcing  Fabrication contractors Apart from above the company is leading partners and promoter's in below companies. Laughing Buddha hydro power project Alliance hydro power Universal Collage of Medical Sciences and research center.
Auditor	:	M/s. B. Tuladhar & Associates, Kathmandu
Trading Terms	:	Terms of Purchase L/C, Cash, Credit (30 Days) Terms of Sale Cash, Credit (30 Days)
Customer Types		· Retailers Wholesalers Construction
No. of Employees :	:	32

Board of Directors

Name

T. Khenka

S. T. Khenka

Information Parted By:

Name : Mr. Satish Kedia

Designation : Key Executive

Mobile No. : 977-1-4254568

Date : 30.06.2012

Capitalization Structure

Authorized Share Capital	:	Rs. 5,000,000 divided into 500,000 Equity Shares of Rs. 10/- each.
Issued, Subscribed & Paid Up Capital	:	Rs. 2,616,680 divided into 261,668 Equity Shares of Rs. 10/- each.
Face Value	:	Rs. 10/- each.
Last AGM	:	July 19, 2008

Performance of Company

(Amount in Rupees Mln.)

Particulars	March 31, 2011
Total Income	95.40
Total Expenditure	92.22
Profit before Taxation	3.18
Less : Provision for Tax	1.11
Profit after Taxation	2.07

Balance Sheet

(Amount in Rupees Mln.)

Particular	March 31, 2011
Share Capital	2.62
Reserves & Surplus	13.56
Unsecured Loans	2.67
Deferred Tax Liability (Net)	0.01
Total Liabilities	18.86
Gross Block	1.28
Less: Depreciation	0.43
Net Block	0.85
Inventories	30.24
Sundry Debtors	10.84
Cash And Bank Balances	0.14
Loans and Advances	2.49
	43.71
Current Liabilities	23.56
Provisions	2.18
	25.74
Net Current Assets	17.97
Miscellaneous Expenditure	0.04
Total Assets	18.86

Key Financial Ratio

Particulars	March 31, 2011
PAT / Total Income (%)	2.17
Net Profit Margin (PBT/ Total Income) (%)	3.33
Return on Total Assets (PBT/Total Assets} (%)	7.13
Return on Investment (ROI) (PBT/Net worth)	0.20
Debt Equity Ratio (Total Liability/Net worth)	1.76
Current Ratio (Current Asset/Current Liability)	1.70

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.81
UK Pound	1	Rs.86.04
Euro	1	Rs.69.62

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

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