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Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
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Name : |
ESFAHAN STEEL COMPANY |
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Registered Office : |
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Country : |
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Year of Establishment : |
1971 |
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Com. Reg. No.: |
25230 |
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Legal Form : |
Public Joint Stock Company |
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Line of Business : |
Manufacturer of constructional
steel products such as beams, angles, round
bars, and channels; steel making pig iron; and converter sludge |
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No of Employees : |
850 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Iran |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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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 |
IRAN - ECONOMIC OVERVIEW
Iran's economy is marked by
statist policies and an inefficient state sector, which create major
distortions throughout the system, and reliance on oil, which provides a large
share of government revenues. Price controls, subsidies, and other rigidities
weigh down the economy, undermining the potential for private-sector-led
growth. Private sector activity is typically limited to small-scale workshops,
farming, some manufacturing, and services. Significant informal market activity
flourishes and corruption is widespread. Tehran since the early 1990s has
recognized the need to reduce these inefficiencies, and in December 2010 the
Majles passed President Mahmud AHMADI-NEJAD's Targeted Subsidies Law (TSL) to
reduce state subsidies on food and energy. This was the most extensive economic
reform since the government implemented gasoline rationing in 2007. Over a
five-year period the legislation sought to phase out subsidies that previously
cost Tehran $60-$100 billion annually and mostly benefited Iran's upper and
middle classes. Cash payouts of $45 per person to more than 90% of Iranian
households mitigated initial widespread resistance to the TSL program. However,
inflation in 2012 reached its highest level in four years, eroding the value of
these cash payouts and motivating the Majles to halt planned price increases
for the second half of 2012 through at least March 2013. New fiscal and
monetary constraints on Tehran, following international sanctions in January
against Iran's Central Bank and oil exports, significantly reduced Iran's oil
revenue, forced government spending cuts, and fueled a 20% currency
depreciation. Economic growth turned negative for the first time in two
decades. Iran also continues to suffer from double-digit unemployment and
underemployment. Underemployment among Iran's educated youth has convinced many
to seek jobs overseas, resulting in a significant "brain drain."
|
Source
: CIA |
Company Name: Esfahan Steel Company
Company Trade Name: ESC, ESCO
Address: Esfahan Steel
Company Building,
178, Saadi Boulevard, Isfahan Industrial Area
Esfahan
8493111111
Postal Address: PO Box: 81756- 14461
Tel: + 98 311 6278806,
6278809, 6278815, 334 2573333, 334 2573637
Fax: + 98 311 3322258, 3321964
Website: www.esfahansteel.com
E-mail: info@esfahansteel.com
Company was originally started as an
on 21/09/1971
Current Legal Form: Public Joint Stock Company
Registration Address: Esfahan Steel
Company Building,
178, Saadi Boulevard, Isfahan Industrial Area
Esfahan
Iran
Registration Number: 25230
Established Date: 1971
Registration Date: 1971
Registration Town: Esfahan
National Id: 10260460022
Currency: Iranian
Riyals
Nominal capital: 7,868,405,600,000
|
Number of Shares: 7,868,405,600 |
Type of Shares: None Selected |
|
Issued Shares: - |
Value per share: 1,000 |
Shareholders:
|
Shareholder Name |
Share % |
|
Sadre Tamein Investment Company Iran |
|
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Tamein Ejtimaei Organization Iran |
|
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Saba Tamein Investment Company Iran |
|
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Tadbirgaran Atlas Investment Company Iran |
|
|
Hamoun Shomal Investment Company Iran |
|
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Local Investors |
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Name: Mr. Seyed Mohammad Reza Ayatoullahi
Position within the company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi-English
Name: Mr. Ardisher Saad Mohamadi
Position within the company: Vice Chairman& Managing Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Mahmoud Islamian
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mohammad
Hasan Farajoullahi
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mohammad Yaser Taeibneya
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mansour Yazdizadeh
Position within the company: Deputy Managing
Director of Sales & Marketing
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mohammad Por
Position within the company: Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Barati
Position within the company: Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mahdin Sotoodeh
Position within the company: Inspector engineer
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Majid Rezaei
Position within the company: Public Relation Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr.
Ramezan Ghorban Ebrahimi
Position within the company: Planing &
Development Assistant
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mohammad Reza
Khosravi Rad
Position within the company: Deputy of operating
Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mohammad Reza Nejati
Position within the company: Human Resources
Assistant
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Majid Talaei
Position within the company: Financial &
Economic Assistant
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr.
Hasan Ghaliyaei
Position within the company: Purchasing Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Mohammad Shahrabi-Farahani
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi,
English
Name: Mr. Hasan Pelarak
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Hasan Hasan Ghalyaei
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Manufacturer of constructional
steel products such as beams,
angles, round bars, and channels; steel making pig iron; and converter sludge
ISO 9001: 2008 and
OHSAS 18001:2007
Local Reporters consider the investigated company to be Large in their field of concern
Company Employs: 850
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Sales: 80%
Nationally, 20% International
Sales to: Group companies, General Public
Sales Term: Cash, Bank Transfer, accept credit, Letter of credit
Vehicles:
60
Operates Form: Owned: Offices, Warehouses, Refinery and Factory
Location: Central
Business Area, Main Road
Branches:
No.187, Saadi Blvd,
Esfahan, Iran
Tel: + 98 311 6240031-2,6242700, 6270220
Fax: + 98 311 6240033
Premised: Owned- Sale Office
Unite 509, Fifth Floor, Bandaranzali St,
Taleghani Ave,
Tehran, Iran
Tel: 98 21 88383150-55
Fax: 98 21 88383149
Raw Materials & Enery Purchasing
Manager
45 Km of Zob Ahan Highway , Esfahan , Iran
Tel: +98 (0) 334257 5255
Fax: +98 (0) 334257 5249
Bank Tejarat
Esfahan
Iran
Bank Melli
Esfahan
Iran
Solicitor:
Auditors:
Auditing Corporate
Imports From: Europe, Far East
Importing Terms: Bank Transfer
Import % and type of product: 40% Raw Materials
Export To: Europe
Exporting Terms: Bank Transfer
Export% and type product:
20% Finished Goods
Affiliated:
Esfahan's Mobarakeh Steel Company
Mobarakeh Town
P. O. Box 84815-161
Esfahan, 11131-84881
Iran
Subsidiaries:
Taavouni Esfahan Steel Company
Esfahan Steel Club Company
Subject's payments reported to be: NO COMPLAINTS
Reporter Comment Date:
07/02/2014
Name/Title: Mr. Ardisher Saad Mohamadi- Managing Director
Subject has confirmed the general details provided in the report.
Note:
Trade name of the subject is ESC, ESCO.
Reporter Comment:
In the interview conducted with Mr. Ardisher Saad Mohamadi- Managing Director ., he declined bank account numbers and financial details citing the grounds of company confidentiality.
Local Reputation:
The company being investigated is considered by local reporters to be a Normal Trade Risk
Local informants consider granting of credit to be a fair trade risk
Owner/Shareholders Comments: Some of the owners / shareholders have an active participation in the running of the business.
Age of Business: Old business
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 62.31 |
|
|
1 |
Rs. 101.77 |
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Euro |
1 |
Rs. 84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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.