MIRA INFORM REPORT

 

 

Report Date :

29.03.2013

 

IDENTIFICATION DETAILS

 

Name :

TRIVENI SPINNING MILLS PVT. LTD

 

 

Registered Office :

P.O. Box 23818, Triveni Complex, 7th Floor, Block 703, 1951 Ramshahpath, Kathmandu

 

 

Country :

Nepal

 

 

Financials (as on) :

15.07.2012

 

 

Date of Incorporation :

25.09.1998

 

 

Legal Form :

Privet Limited Company

 

 

Line of Business :

Manufacturer and exporter of Polyester / Viscose Yarn.

 

 

No. of Employees :

85

 

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 :

Unknown

Litigation :

--

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Nepal

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NEPAL - ECONOMIC OVERVIEW

 

Nepal is among the poorest and least developed countries in the world, with with about one-third of its population living below the poverty line. Agriculture is the mainstay of the economy, providing a livelihood for three-fourths of the population and accounting for about one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Nepal has considerable scope for exploiting its potential in hydropower, with an estimated 42,000 MW of feasible capacity, but political instability hampers foreign investment. Additional challenges to Nepal's growth include its landlocked geographic location, civil strife and labor unrest, and its susceptibility to natural disaster.

Source : CIA

 

Company Identification Details

 

Enquired Name

:

Triveni Spinning Mills Pvt. Ltd

Correct Name of Company

:

Triveni Spinning Mills Pvt. Ltd

Registered Office

:

P.O. Box 23818, Triveni Complex, 7th Floor,

Block 703, 1951 Ramshahpath, Kathmandu, Nepal

Industry

:

Spining

Nature of Activity

:

manufacturer and exporter of Polyester / Viscose Yarn.

 

 

Official Company Data

 

Legal Form

:

Privet Limited Company
Corporate Identity Number (CIN)

:

100962

ROC Code 

:

Kathmandu

Registration Date

:

25.09.1998
Issuing Authority

:

Registrar of Companies (ROC)
Employee

:
85

Shareholder

:

Director & relatives hold all share

Auditor

:

AUDITORS

N. K. Tuladhar & Sons., Kathmandu, Nepal
Bankers

:

Himalayan Bank, Nabil Bank and Global Bank

Nepal Bank Ltd.

 

 

Board of Directors

 

Mr. Ram Chandra Sanghai

Mr. Arun Maheshwari

Mr. B. K. Shestha

 

 

Capitalization Structure

 

Authorized Share Capital

:             

30,000,000/- (3,000,000./ Equity Shares of Rs.10/- each)

Issued, Subscribed & Paid Up Capital

:

Paidup : 14,672,000/- (14,672,00/- of Rs.10/- each)

 

 

 

 

 

 

 

Financial                                 :

 

 

BALANCE SHEET AS AT 15.07.2012

 

 

 

 

 

 

 

Liabilities

Amount (Rs.)

 

Assets

Amount (Rs.)

 

Paid Up Capital

14,672,000

 

Fixed Assest

5848248

 

Secured Loan

27,721,697

 

Investments

4,731,477

 

Unsecured Loan

3,676,994

 

Inventories

30,000,000

 

 

 

 

Cash & Bank

5,103,766

 

 

 

 

Sundry Debtors

387,200

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

46,070,691

 

 

46,070,691

 

 

 

 

 

 

 

 

Rs.

 

 

 

 

Sales

28,863,138

 

 

 

 

Expenditure

2,007,910

 

 

 

 

Profit Before Tax

21,763

 

 

 

 

Profit After Tax

17,125.00

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.39

UK Pound

1

Rs.82.32

Euro

1

Rs.69.54

 

 

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.