MIRA INFORM REPORT

 

 

Report Date :

17.09.2013

 

IDENTIFICATION DETAILS

 

Name :

NARAYANI ROLLING MILLS PVT. LTD.

 

 

Registered Office :

H 02, Chhatapipra Birgunj

 

 

Country :

Nepal

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

27.05.1998

 

 

Legal Form :

Nepal Private Limited Company

 

 

Line of Business :

Manufacturer of Iron & Steel.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

 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 about one-quarter 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 a little over 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

:

NARAYANI ROLLING MILLS PVT. LTD.

Correct Name of Company

:

NARAYANI ROLLING MILLS PVT. LTD.

Registered Office

:

Address : H 02, Chhatapipra Birgunj

City : Birgunj

Country : Nepal

Phone : 521355

Fax : 526959

 

 

 

Office

:

Address : Dharmapath

City : Kathmandu

Country : Nepal

Phone : 4229551, 9851025324

Fax : 4269793

Industry

:

Iron & Steel

Nature of Activity

:

Manufacturer of Iron & Steel.

 

 

 

Official Company Data

 

Legal Form

:

Nepal Private Limited Company
Corporate Identity Number (CIN)

:

5271
ROC Code 

:

Kathmundu

Registration Date

:

May  27, 1998
Issuing Authority

:

Registrar of Companies (ROC), KATHMANDU
Authorised Capital

:

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

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

Auditor

:

M.C Karki & Co. Kathmandu,Nepal

PAN No.

:

300020124

 

Board of Directors

 

Mrs. Sumita Shestha

Mr. B. K. Shestha

Mr. N. M. Tuladhar

Mr. R. B. Surana

 

 

Capitalization Structure

 

Authorized Share Capital

:             

Rs. 5,000,000 divided into 500,000 Equity Shares of Rs. 10/- each.

Issued, Subscribed & Paid Up Capital

:

Rs. 2,616,680 divided into 261,668 Equity Shares of Rs. 10/- each.

Face Value

:

Rs. 10/- each.

Last AGM

:

July 19, 2011

 

 

Performance of Company

                                                                                                  (Amount in Rupees Mln.)
Particulars
March 31, 2011
March 31, 2010
Total Income
95.40
73.52
Total Expenditure
92.22
69.62

Profit before Taxation
3.18
3.90

Less : Provision for Tax
1.11
1.04

Profit after Taxation
2.07
2.86
 

 

Balance Sheet

                                                                                    (Amount in Rupees Mln.)

Particular
March 31, 2011
March 31, 2010

Sources of Funds

Share Capital

2.62

0.59

Reserves & Surplus

13.56

3.40

Unsecured Loans

2.67

4.30

Deferred Tax Liability (Net)

0.01

0.01

Total Liabilities

18.86

8.30

Application Of Funds

Gross Block

1.28

0.88

Less:  Depreciation

0.43

0.24

Net Block

0.85

0.64

Current Assets, Loan and Advances

Inventories

30.24

22.01

Sundry Debtors

10.84

9.63

Cash And Bank Balances

0.14

0.82

Loans and Advances

2.49

1.31

 

43.71

33.77

Less : Current Liabilities & Provisions

Current Liabilities

23.56

25.09

Provisions

2.18

1.06

 

25.74

26.15

Net Current Assets

17.97

7.62

Miscellaneous Expenditure

0.04

0.04

Total Assets

18.86

8.30

 

 

Key Financial Ratio

 

Particulars
March 31, 2011
March 31, 2010

PAT / Total Income (%)

                       2.17

                     3.89

Net Profit Margin

(PBT/ Total Income) (%)

3.33

5.30

Return on Total Assets

(PBT/Total Assets} (%)

7.13

11.32

Return on Investment (ROI)

(PBT/Net worth)

0.20

0.98

Debt Equity Ratio

(Total Liability/Net worth)

1.76

7.63

Current Ratio

(Current Asset/Current Liability)

                       1.70

                     1.29

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.48

UK Pound

1

Rs.99.66

Euro

1

Rs.83.49

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.