MIRA INFORM REPORT

 

 

Report Date :           

06.03.2012

 

IDENTIFICATION DETAILS

 

Name :

NEPAL  LEATHER  INDUSTRIES

 

 

Registered Office :

Jagarnathpur Birgunj Dist Parsa 

 

 

Country :

Nepal

 

 

Date of Incorporation :

05.12.2007

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Producer & Exporters, finish leather for shoes upper, shoes linning, suede for garments, Nappa for garments, bag leathers, furniture leather

 

 

No. of Employees :

40

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Nepal

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Concern  name & address 

 

NEPAL  LEATHER  INDUSTRIES

Jagarnathpur Birgunj Dist Parsa 

Phone :             529814 / 522544

E-mail:              nepalgaida@hotmail.com

 

 

 

Concern  summary

 

Year Established                                   :           05-12-2007

 

Legal Status                                          :           Partnership

 

Name of Partners                                   :          

 

1.       B. Ansari

2.       R. Hamid

 

Auditors                                                :           B.K.Karki & Co. Kathmandu, Nepal

 

Staff                                                      :           40 nos.

                                               

Bankers                                                :           Nepal Banijya Bank Ltd.

                                                                        Kathmandu, Nepal

 

                                                                        Bank of Kathmandu Ltd

                                                                        Kathmandu, Nepal

                                                                       

                                                                        Nepal Grindlays Bank Ltd.

                                                                        Kathmandu, Nepal

 

 

Office Space                                          :           1700 sq. ft. (Leasehold)

 

Business                                                           :           Producer & Exporters, finish leather for shoes upper, shoes

linning, suede for garments, Nappa for garments, bag leathers, furniture leather. Export wet blue.

                                   

 

Reference of Overseas Concerns :           Germany, Switzerland, Japan.                                                                

Finance                                                 :           Present Working Capital – Rs.8.00 crores.

 

                                                                        Sales (2010)                              :           Rs. 9  crores.                                                                                        Sales (2011)                              :           Rs. 11  crores.

                                                                        Projected Sales (2012)               :           Rs. 12  crores.

 

Trading Terms                                        :           Purchase          -           L/C – 30 days

                                                                                                            Credit – 30 days

 

                                                                        Sales                -           L/C – 30 days

                                                                                                            Credit – 30 days

                                   

Remarks                                               :           Partners are well experienced and active.  Payments are

                                                                        Reported to not known. Business may be done on Bank

Guarantee or cash only.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.79

UK Pound

1

Rs.78.79

Euro

1

Rs.65.73

 

 

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.