|
Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
M.I. CEMENT FACTORY LIMITED |
|
|
|
|
Registered Office : |
Sena Kalyan Bhaban, (19th Floor ), |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
11.12.1998 |
|
|
|
|
Com. Reg. No.: |
C-27586 |
|
|
|
|
Legal Form : |
Public Limited Company |
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|
|
|
Line of Business : |
Manufacturer, Exporter & Seller of |
|
|
|
|
No. of Employees : |
791 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
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) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Name |
M.I. Cement Factory Limited |
|
Address |
Sena
Kalyan Bhaban, (19th Floor ), Suite # 1901-1902, 195, Motijheel C/A, Dhaka-
1000 |
|
Country |
Bangladesh |
|
Telephone No |
880-2-9569437,9564885,
9553022 |
|
Fax No |
880-2-9570392 |
|
E-Mail |
|
|
Website |
|
|
Established |
December 1998 |
|
Commercial
Production From |
2000 |
|
Registration No |
C-27586 |
|
Registration Date |
11th December 1998 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The Registrar of
Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer, Exporter & Seller |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
Sena
Kalyan Bhaban, (19th Floor ), Suite # 1901-1902, 195, Motijheel C/A, Dhaka-
1000 |
|
Telephone No |
880-2-9569437,9564885,
9553022 |
|
Fax No |
880-2-9570392 |
|
E-Mail |
|
|
Website |
|
|
Registered Office
|
West Mukterpur, Munshigonj |
|
Branch |
Chittagong
liaison Office : Crown Chamber |
|
Factory |
West
Mukterpur, Munshigonj |
|
Factory Telephone No |
880-2-7618077 |
|
Factory Fax No |
880-2-7618070,
011-861425 |
|
Warehouse |
West
Mukterpur, Munshigonj |
|
Name |
Mr. Mohammed
Jahangir Alam |
|
Designation |
Chairman |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Al-haj Md. Khabiruddin Molla |
|
Designation |
Managing Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Alamgir
Kabir |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Molla
Mohammed Maznu |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Mizanur Rahman Molla |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Almas Shimul |
|
Designation |
Director |
|
Nationality |
Bangladeshi |
|
Name |
Mr. Mohammad
Jahangir Alam |
|
Share Percent |
22.15% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Al-Haj
Khabiruddin Molla |
|
Share Percent |
20.00% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad Alamgir
Kabir |
|
Share Percent |
13.85% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Molla
Mohammed Maznu |
|
Share Percent |
10.00% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammed
Mizanur Rahman Molla |
|
Share Percent |
10.00% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammed
Almas Shimul |
|
Share Percent |
7.00% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Al-Haj Abdur
Rouf |
|
Share Percent |
2.50% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mrs. Al-haj
Rokeya Begum |
|
Share Percent |
10.00% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Mohammad
Ashrafuzzaman |
|
Share Percent |
2.50% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Mr. Abdul Ahad |
|
Share Percent |
2.00% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer, Exporter & Seller |
|
Items Dealing In |
Portland Cement |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of Sale |
Local: Cash or Credit Export: Against L/C |
|
Production
Capacity |
1,008,000 M Tons per year |
|
Name |
Mercantile Bank
Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A,
Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Janata Bank
Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A,
Dhaka |
|
SWIFT |
N/A |
|
|
|
|
Name |
Shahjalal Bank
Limited |
|
Branch |
Motijheel Branch |
|
Address |
Motijheel C/A,
Dhaka |
|
SWIFT |
N/A |
Balance
Sheet (Un Audited)
As
At 31st March 2011 (Taka)
|
ASSETS |
2011 |
|
Non-current assets |
1,552,391,229 |
|
Property, plant and equipment |
1,044,708,223 |
|
Capital work-in-progress |
507,683,006 |
|
Investment in
Associate |
280,842,299 |
|
Current assets |
5,231,949,928 |
|
Inventories |
413,890,625 |
|
Trade receivables |
556,622,114 |
|
Other receivables |
46,794,487 |
|
Advance, prepayments & deposits |
215,867,678 |
|
Advance income tax |
341,954,339 |
|
Cash & bank balance |
3,656,820,685 |
|
Total Assets |
7,066,183,456 |
|
EQUITY |
|
|
Shareholders' equity |
5,092,631,118 |
|
Share capital |
1,000,000,000 |
|
Retained earnings |
775,335,014 |
|
Share premium |
3,048,000,000 |
|
Revaluation reserve |
269,296,434 |
|
LIABILITIES |
|
|
Non-current liabilities |
153,423,711 |
|
Long time borrowing not off current maturity |
96,771,195 |
|
Deferred tax liability |
56,652,515 |
|
|
|
|
Current liabilities and provision |
1,819,128,296 |
|
Trade and other payables |
89,292,428 |
|
Subscription money payable |
173,493,360 |
|
Current portion of loan |
22,023,000 |
|
Short term loan |
979,354,076 |
|
Provision for tax liability |
553,738,360 |
|
Total liabilities |
1,972,552,007 |
|
Total equity and liabilities |
7,065,183,455 |
Statement
of Comprehensive Income
For
the Period from 1 July 2010 to 31 March 2011 (TAKA)
|
Sales |
2,919,130,072 |
|
Cost of goods sold |
( 2,104,489,221) |
|
Gross profit |
814,640,851 |
|
Other operating Income |
47,604,688 |
|
Selling & distributing expenses |
(108,196,300) |
|
Administrative expenses |
(42,932,467) |
|
Operating Profit |
711,116,772 |
|
Other non
operating income |
10,899,824 |
|
Financial Expenses |
(68,202,893) |
|
Profit before income tax |
653,813,703 |
|
Income Tax Expenses |
|
|
Current year |
((237,381,877) |
|
Deferred Tax |
(7,798,256) |
|
Net profit
during the year |
408,633,565 |
|
|
|
|
Earning per share |
5.53 |
|
Authorized
Capital |
Tk.5000 million |
|
Paid Up Capital |
Tk.100,00,00,000.00 |
|
Each Share Value |
Tk.10.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
127.2274 |
|
U.S Dollar |
1 |
81.9500 |
|
European Euro |
1 |
103.0521 |
|
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 |
|
Employees |
791 |
|
Range of
Products |
4 Ordinary
Portland cement Type-I 4 Composite
Portland cement |
|
Brands |
4 Crown Cement |
|
Certifications |
4 9001:2000 |
|
Group Name |
NIL |
|
Subsidiaries /
Affiliates |
4 Crown Power
Generation Limited. 4 GPH Ispat Ltd. 4 Premier Cement
Mills Ltd 4 Jahangir and
others Ltd. 4 GPH Power
Generation Limited 4 Premier Power
Generation Ltd. 4 M.M. Salt
Industries Limited 4 Molla Salt (triple
refined) Industries Ltd |
|
Member |
4 Dhaka Chamber
of Commerce & Industries, Dhaka 4 Bangladesh
cement Manufacturer’s Association, Dhaka |
|
Business Scale |
Large |
|
Business Trend |
Growing |
|
Management Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
UK Pound |
1 |
Rs.88.45 |
|
Euro |
1 |
Rs.71.52 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.