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Report Date : |
06.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SHINEPUKUR CERAMICS LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
23.06.1997 |
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Com. Reg. No.: |
C-32230 |
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Legal Form : |
Public Limited |
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Line of Business : |
Manufacturer & Exporter of Ceramic Products |
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No. of Employees : |
3000 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Bangladesh |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BANGLADESH - ECONOMIC OVERVIEW
In real terms Bangladesh's economy has grown 5.8% per year since
1996 despite political instability, poor infrastructure, corruption,
insufficient power supplies, and slow implementation of economic reforms.
Bangladesh remains a poor, overpopulated, and inefficiently-governed nation.
Although more than half of GDP is generated through the service sector, 45% of
Bangladeshis are employed in the agriculture sector with rice as the
single-most-important product. Bangladesh's growth was resilient during the
2008-09 global financial crisis and recession. Garment exports, totaling $12.3
billion in FY09 and remittances from overseas Bangladeshis, totaling $11
billion in FY10, accounted for almost 12% of GDP.
Source
: CIA
|
Name |
Shinepukur
Ceramics Limited |
|
Address |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur |
|
Country |
Bangladesh |
|
Telephone No |
880-2-7789821,7789823 |
|
Fax No |
880-2-7789823 |
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E-Mail |
|
|
Website |
|
|
Established |
1997 |
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Commercial Production From |
1999 |
|
Company Registration No |
C-32230 |
|
Registration Date |
23rd June 1997 |
|
Legal Status |
Public Limited |
|
Issuing Authority |
The
Registrar of Joint Stock Companies & Firms, Dhaka |
|
Business Type |
Manufacturer,
Seller & Exporter |
|
Status |
Satisfactory |
|
Payment Behavior |
No complaints have been heard regarding payments from
local suppliers or banks. |
|
Head Office |
BEL
Tower, Level # 12, 19
Dhanmondi, Road# 1, Dhaka-1205 |
|
Telephone No |
880-2- 8611891, 8618220 |
|
Fax No |
880-2- 9661978,
8613470 |
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E-Mail |
|
|
Website |
|
|
Dhaka Display and Sales Centre |
FR Tower, 1st Floor,32
Kamal Ataturk Avenue Phone : 880-2-8815093,
01199804018 E-mail : display@bol-online.com |
|
USA Office |
Suite 947 Phone : +212-213-6431 Fax : +212-213-6159 Email : spclusa@aol.com |
|
Factory |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur, Bangladesh |
|
Factory Telephone No |
880-2-7789821,7789823 |
|
Factory Fax No |
880-2-7789823 |
|
Warehouse |
Beximco Industrial Park, Sarabo, Kashimpur, Gazipur, Bangladesh |
|
Name |
Mr. A S F Rahman |
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Designation |
Chairman |
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Nationality |
Bangladeshi |
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|
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Name |
Mr. Salman F Rahman |
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Designation |
Vice-Chairman |
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Nationality |
Bangladeshi |
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Name |
Mr. Nazmul Hassan |
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Designation |
Managing
Director |
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Nationality |
Bangladeshi |
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Name |
Sponsor Directors |
|
Share Percent |
50% |
|
Nationality |
Bangladeshi |
|
|
|
|
Name |
Institutes |
|
Share Percent |
3.84% |
|
Country |
Bangladesh |
|
|
|
|
Name |
Public |
|
Share Percent |
46.16% |
|
Nationality |
Bangladeshi |
|
Line of Business |
Manufacturer
& Exporter |
|
Items Dealing In |
Ceramic
Products |
|
Terms of Purchase |
Local: Cash or Credit Import: Against L/C |
|
Terms of
Purchase |
Local: Cash or Credit |
|
Name |
Janata Bank
Limited |
|
Branch |
Local office
Branch |
|
Address |
1, Dikusha Commercial Area, Dhaka |
|
SWIFT |
JANBBDDHDCB |
|
|
|
|
Name |
Sonali Bank Limited |
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Branch |
Gazipur Branch |
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Address |
Gazipur |
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SWIFT |
JANBBDDHDCB |
Shinepukur
Ceramics Limited
Balance Sheet (Un-audited)
As at 31 March
2013
Currency: Taka in ‘000
|
ASSETS: |
2013 |
|
Non-Current Assets |
5,306,526 |
|
Property, Plant and Equipment |
4,366,929 |
|
Investment in Shares |
121,705 |
|
Capital Work in Progress |
817,892 |
|
Current Assets |
1,796,125 |
|
Inventories |
844,636 |
|
Accounts & Other Receivables |
850,734 |
|
Advances, Deposits & Prepayments |
89,541 |
|
Cash and Cash Equivalents |
11,214 |
|
Total Assets |
7,102,651 |
|
EQUITY AND LIABILITIES |
|
|
Shareholders’ equity |
4,565,883 |
|
Share Capital |
1,277,966 |
|
Revaluation Surplus |
2,907,735 |
|
Retained Earnings |
380,182 |
|
Non-current Liabilities |
746,327 |
|
Long term Loan - Secured (Net-off Current
Maturity) |
269,033 |
|
Long term Loan - (Unsecured) |
468,838 |
|
Deferred tax Liability |
8,456 |
|
current Liabilities |
1,790,441 |
|
Short term Loan from Banks - (Secured) |
1,162,788 |
|
Long term Loan - Current Maturity (Secured) |
156,924 |
|
Creditors, Accruals and other Payables |
470,729 |
|
Total equity and Liabilities |
7,102,651 |
Shinepukur
Ceramics Limited
Profit And Loss Account (Un-audited)
For the 1st Quarter ended 31 March 2013
Currency: Taka in ‘000
|
|
2013 |
|
Revenue (Turnover) from net sales |
445,868 |
|
Cost of Revenue |
304,010 |
|
Gross Profit |
141,858 |
|
Operating Expenses: |
28,766 |
|
Administrative Expenses |
13,728 |
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Selling & Distribution Expenses |
15,038 |
|
Profit From Operations |
113,092 |
|
Finance Cost |
86,402 |
|
Profit Before Contribution to WPWF |
26,690 |
|
Contribution to Workers’ Participation/Welfare
Fund |
1,271 |
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Net Profit Before Tax |
25,419 |
|
Income Tax Expenses |
3,998 |
|
Net Profit After Tax (NPAT) for the Period |
21,421 |
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Total Comprehensive Income For The Period |
21,421 |
|
Earnings Per Share (EPS) / Restated EPS |
0.17 |
|
Number of shares used to compute EPS |
127,796,570 |
Auditors: M/S M. J. Abedin & Co, Chartered Accountants
National Plaza (3rd Floor), 109, Bir Uttam C R Datta Road, Dhaka-1205
|
Authorized
Capital |
Tk.5,000 million |
|
Paid Up Capital |
Tk.1,278 million |
|
Each Share Value |
Tk.100.00 |
|
Currency |
Unit |
Bangladeshi Taka (BDT) |
|
Great Britain Pound |
1 |
119.0972 |
|
U.S Dollar |
1 |
77.7600 |
|
European Euro |
1 |
101.7334 |
|
Dishonored
Checks |
No Found |
|
Debt |
No Found |
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Litigation |
No Records Found |
|
Performance
Defaults |
No Records Found |
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Adverse Press
Coverage |
No Records Found |
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Money Laundering |
No Records Found |
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Employees |
3,000 |
|
Office Area (Sq.
Ft) |
3,500 sq.ft (owned) |
|
Factory Area
(Sq. Ft) |
588,000 sq.ft (owned) |
|
Warehouse Area
(Sq. Ft) |
5,800 sq.ft (owned) |
|
Range of
Products |
4 Bone
China Tableware 4
Porcelain Tableware |
|
Export
Market |
4 UK 4 USA 4 Spain 4 Italy 4 Australia 4 New Zealand 4 Norway 4 Sweden 4 Russia 4 UAE 4 Denmark 4 Germany 4 France 4 Mexico 4 Turkey 4 India |
|
Certifications |
4 ISO 9001:2008 |
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Group Name |
4 Beximco Group |
|
Subsidiaries /
Affiliates |
4 Beximco Pharmaceuticals Ltd 4 Bangladesh
Antibiotics Industries Ltd. 4 Pharmatek
Chemicals Ltd. 4 Bextex Ltd. 4 Beximco
Fashions Ltd. 4 Beximco
Apparels Ltd. 4 International
Knitwear & Apparels Ltd. 4 Crescent
Fashions Ltd. 4 Essess Fashions
Ltd. 4 Bangladesh
Export Import Co Ltd. 4 Beximco
Engineering Ltd. 4 Beximco
Property Development & Management Ltd. 4 New Decca
Industries Ltd 4 Bangladesh
Online 4 Beximco
Computers Ltd. 4 Beximco Media
Ltd. 4 Beximco
Synthetics Ltd. 4 GMG Airlines
Ltd. 4 Beximco
Petroleum Ltd. 4 Beximco
Holdings Ltd. 4 Beximco
Securities Ltd. 4 Sonali Ansh
Ltd. 4 Bextrade
Ltd.
|
|
Member |
4 Bangladesh Ceramic Ware Manufacturers Association, Dhaka 4 Dhaka Chamber of Commerce &
Industries, Dhaka |
|
Enlisted With |
4 Dhaka
Stock Exchange (DSE) 4
Chittagong Stock Exchange (CSE) |
|
Stock Code |
4
SPCERAMICS |
|
Business Scale |
Fairly Large |
|
Business Trend |
Growing |
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Management
Capability |
Good |
|
Reputation |
Good |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
|
1 |
Rs.86.54 |
|
Euro |
1 |
Rs.73.86 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.