MIRA INFORM REPORT

 

 

Report Date :

14.06.2012

 

IDENTIFICATION DETAILS

 

Name :

HULAS  WIRE  INDUSTRIES  LTD.

 

 

Registered Office :

Tanki Sinuwari, Biratnagar

 

 

Country :

Nepal

 

 

Financials (as on) :

15.07.2010

 

 

Date of Incorporation :

14.07.2006.

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacturer of GI Mild Steel Wire, CA Round and Formed Wire, Barbed Wire, HB Wire, Hulas Griders, Shutter Spring

 

 

No. of Employees :

Not Available

 

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 :

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 31st, 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 name and address

 

HULAS  WIRE  INDUSTRIES  LTD.

 

Head Office

 

Golchha House, Main Road

Biratnagar, Nepal

 

P.O.Box 25 Biratnagar-3,Nepal

Tel: +977-21-525627 / 420645 / 652

Fax: +977-21-524395

Email: brt@golchha.comThis e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Factory & Registered Office

 

Tanki Sinuwari

Biratnagar, Nepal

Tel: +977-21-420117, 420226

Fax: +977-21-421183

Email: info@hulaswireindustries.comThis e-mail address is being protected from spambots. You need JavaScript enabled to view it.

 

Corporate Office

 

Golchha House, Ganabahal

P.O. Box 363, Kathmandu, Nepal

Tel: +977-1-4250001

Fax: +977-1-4249723

Email: ktm@golchha.com

 

 

Summary

 

History             :           It is a public limited company incorporated at Kathmandu under His Majesty  Govt.

                                    Act No.P0969 of 14.07.2006.

 

Directors :        1.         C. K. Golchha  (Chairman & M.D.)

                        2.         A. K. Kotharia

                        3.         Aditya Dugar

                        4.         M. K. Golchha             

 

Bankers :         1.         Nepal Indo-Swiss Bank Limited, Kathmandu (Nepal)

2.         Nepal Bank Ltd., Kathmandu (Nepal)

3.         Nepal Grindlays Bank, Kathmandu (Nepal)

4.         Nepal Banijya Bank, Kathmandu (Nepal)

 

Shareholders :             Golchha Group Organisation

 

Auditors:          M/B K Agarwal & Co., Putli Sadak., Kathmandu (Nepal)

 

Business :        Manufacturer

Product Range

GI Mild Steel Wire

CA Round and Formed Wire

Barbed Wire, HB Wire

Hulas Griders

High Tensile Galvanized Steel Core

Wire Nails, PC Wire

Razor Concertina Wire

Chain Link, Gabion Box

Shutter Spring

 

 

Financial              

 

BALANCE SHEET AS AT 15th JULY, 2010

 

LIABILITIES

NP. RUPEES

ASSETS

NP. RUPEES

Authorised Capital

60,000,000

Fixed Assets

63,913,740

Paid up Capital

49,787,500

Cap. Work in Progress

1,080,852

Reserve & Surplus

11,331,261

Current Assets

49,674,391

Secured Loans

50,337,942

Deferred Tax Net

99,000

Unsecured Loans

3,348,332

Miscns. Expenses

37,052

Total Nep. Rs.

114,805,035

Total Nep. Rs.

114,805,035

 

Sales                           :           Nep Rs.77,014,028/-

Profit of this year         :           Nep Rs.  7,075,182/-

Deferred Tax Adjust     :           Nep Rs.   1,270,344/-

Net Profit                     :           Nep Rs.      331,261/-

 

Remarks :        Well established, respectable and reputed concern. Payments are reported to be correct and regular as per commitments.  Trade relations are fair. Consider good for normal business engements.

 

 

Information declined by

 

Name               : Mr. Prakash

Designation     : Finance Controller

Contact            : 0977-21-420645 / 652

Date                 : 12.06.2012


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.85

UK Pound

1

Rs.86.88

Euro

1

Rs.69.88

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.