MIRA INFORM REPORT

Report Date :

09.05.2014

IDENTIFICATION DETAILS

Name :	JAGDAMBA STEELS PVT LTD
Registered Office :	7^th Floor, Gagdamba Tower, Tinkune, Kathmandu
Country :	Nepal
Financials (as on) :	March 2011
Date of Incorporation :	25.06.1965
Legal Form :	Nepal Private Limited Company
Line of Business :	Manufacture of Billets, Wire Rods, Sponge Iron
No. of Employees :	200

NOTES :

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ECGC Country Risk Classification List – March 31^st, 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 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	:	JAGDAMBA STEELS PVT LTD
Correct Name of Company	:	JAGDAMBA STEELS PVT LTD
Registered Office	:	7^th Floor, Gagdamba Tower, Tinkune, Kathmandu, Nepal
Telephone No.	:	+977-1-4227013
Fax No.	:	+977-1-4227004
Email Id	:	jsteel@wlink.com.np.
Factory	:	Simara (Bara) Nepal
Industry	:	Steel Manufacturer
Nature of Activity	:	Billets, Wire Rods, Sponge Iron

Official Company Data

Legal Form	:	Nepal Private Limited Company
Corporate Identity Number (CIN)	:	99044
ROC Code	:	Kathmandu
Registration Date	:	25.06.1965
Issuing Authority	:	Registrar of Companies (ROC)
Permanent Account No. (PAN)	:	300020108
Authorised Capital	:	Rs. 80 Millons
Paid-up Capital	:	Rs. 42.40 Millons
Employee	:	200
Business Activity / Product Description	:	Manufacture of Billets, Wire Rods, Sponge Iron
Auditor	:	AUDITORS R. Shrestha & Co., Kathmandu
Bankers	:	Nepal Grindlays Bank, Kathmandu Himalayan Bank, Kathmandu

Directors : 1. Mr. Shanker Lal Agrawal

2. Ms. Lalita Agrawal

3. Ms. Sulochana Agrawal

4. Mr. Sulav Agrawal

Capitalization Structure

Authorized Share Capital	:	Rs. 80 Millions Equity Shares of Rs. 10/- each.
Issued, Subscribed & Paid Up Capital	:	Rs. 42.40 Millions Shares of Rs. 10/- each.
Face Value	:	Rs. 10/- each.
Last AGM	:	July15, 2011

Balance Sheet (Rs. in millions) 2011
Share Capital	42.40	42.40	42.40
Reserves & Surplus	176.26	176.26	176.26
Net Worth (1)	218.66	218.66	218.66
Secured Loans (2)	1.12	1.84	3.31
Unsecured Loans (3)	0.00	0.00	1.06
Total Liabilities(1+2+3)	219.78	220.50	223.04
Fixed Assets
Gross Block	28.93	28.34	25.43
(-) Acc. Depreciation	9.96	9.23	8.09
Net Block (A)	18.97	19.10	17.35
Capital Work in Prgs. (B)	2.82	1.54	0.46
Investments (C)	14.04	20.10	22.20
Current Assets, Loans & Advs.
Inventories	1.11	2.14	3.52
Sundry Debtors	45.87	8.64	8.45
Cash And Bank	18.70	14.31	8.09
Loans And Advances	28.14	19.87	192.82
(i)	93.82	44.95	212.88
Current Liab. & Provs.
Current Liabilities	28.14	16.17	17.69
Provisions	32.19	19.36	12.16
(ii)	60.34	35.54	29.85
Net Curr. Assets (i - ii) (D)	33.48	9.42	183.03
Misc. Expenses (E)	150.48	170.35	0.00
Total Assets (A+B+C+D+E)	219.78	220.50	223.04

Profit & Loss Accounts (Rs. in millions)
	March - 2011 (12 months)	%	March - 2010 (12 months)	%	March - 2009 (12 months)	%
Sales	124.08	+0.96	96.11	+0.98	61.18	+0.99
Other Income	5.01	+0.04	2.15	+0.02	0.51	+0.01
Total Income	129.09	-	98.26	-	61.69	-
Raw Material Cost	45.13	+0.35	30.87	+0.31	17.57	+0.28
Excise	0.00		0.00		0.00
Other Expenses	46.41	+0.36	45.23	+0.46	26.64	+0.43
Operating Profit	32.54	+0.25	20.01	+0.20	16.97	+0.28
Interest Name	0.60	+0.00	0.51	+0.01	0.56	+0.01
Gross Profit	31.94	+0.25	19.50	+0.20	16.41	+0.27
Depreciation	1.62	+0.01	1.54	+0.02	1.42	+0.02
Profit Bef. Tax	35.33	+0.27	20.11	+0.20	15.50	+0.25
Tax	12.48	+0.10	7.20	+0.07	5.90	+0.10
Net Profit	22.85	+0.18	12.91	+0.13	9.60	+0.16
Other Non- Recurring Income	0.00		0.00		1.34	+.02
Reported Profit	22.85	+0.18	12.91	+0.13	10.94	+0.18
Equity Dividend	2.54	+0.02	2.54	+0.03	2.54	+0.04

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.00
UK Pound	1	Rs.101.75
Euro	1	Rs.83.48

INFORMATION DETAILS

Report Prepared by :

NNA

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