MIRA INFORM REPORT

 

 

Report Date :

16.05.2014

 

IDENTIFICATION DETAILS

 

Name :

ACI GODREJ AGROVET PRIVATE LIMITED

 

 

Registered Office :

Kaderia Tower (9th Floor), JA 28/8/B, Mohakhali, C/A, Dhaka-1212, Bangladesh.

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

10.10.2004

 

 

Com. Reg. No.:

C-54555

 

 

Legal Form :

Private Company  

 

 

Line of Business :

Manufacturer and Exporter of Poultry Feed, Aqua Feed, Cattle & Shrimp Feed, Day Old Chicks

 

 

No. of Employees :

2500

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

Payment Behaviour :

Regular

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 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Bangladesh

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

BANGLADESH - ECONOMIC OVERVIEW

 

Bangladesh's economy has grown roughly 6% per year since 1996 despite political instability, poor infrastructure, corruption, insufficient power supplies, slow implementation of economic reforms, and the 2008-09 global financial crisis and recession. Although more than half of GDP is generated through the service sector, almost half of Bangladeshis are employed in the agriculture sector with rice as the single-most-important product. Garment exports, the backbone of Bangladesh’s industrial sector and 80% of total exports, surpassed $21 billion last year, 18% of GDP. The sector has remained resilient in recent years amidst a series of factory accidents that have killed over 1,000 workers and crippling strikes that shut down virtually all economic activity. Steady garment export growth combined with remittances from overseas Bangladeshis, which totaled almost $15 billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s current account surplus and record foreign exchange holdings.

 

Source : CIA

 EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

ACI GODREJ AGROVET PRIVATE LIMITED

Head Office

:

Kaderia Tower (9th Floor), JA 28/8/B, Mohakhali, C/A, Dhaka-1212, Bangladesh.

Tel No

:

88-02-8829468

Fax No

:

88-02-9891011

E-mail

:

kaniz.fatema@acigodrej.com

Website

:

www.acigodrejagrovet.com

Date/ Year of Incorporation

:

10.10.2004

Incorporation No.

:

C-54555

Legal Form (General)

:

 Public Listed Co        Public (but not listed)   Private Co   State-owned Co

 Sole Proprietorships  Partnership                     Not Registered

 others (please specify) ________________

Legal form (Specific)

:

LTD   CORP    INC  CO    

 others (please specify) ________________

Issuing Authority

:

Registrar of Joint Stock Companies & Firms      City Corporation

 Municipal Administration                                   Union Council

 Cantonment Board                                              Chief Controller of  Import & Export (CCIE)

 

 

FINANCIALS- SUMMARY

      Year

Turnover/ Sales

 Assets

     Income

July’ 11~June’ 12

Tk. 161.65  Million

Tk. 1744.09  Million

Tk. 4.75  Million

July’ 12~June’ 13

Tk. 188.50 Million

Tk. 1835.20  Million

Tk. 7.90 Million

Exchange Rate

USD1-Tk. 77.8200

EUR 1- Tk. 100.2711

GBP 1- Tk.118.5354

AUD 1 - Tk.82.8563

JPY 1 - Tk.0.9286

CAD 1 - Tk.80.1887

SEK 1 - Tk.12.2870

SGD 1 - Tk.65.3045

CNH 1 - Tk.12.8399

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

 

 

 

Name

:

Mr. Md. Abdur Rashid

Designation

:

Accounts Officer.

Contract No

:

-

 

 

                                                               Locations Details

 

Operating Address

:

Kaderia Tower (9th Floor), JA 28/8/B, Mohakhali, C/A, Dhaka-1212, Bangladesh.

Tel No

:

88-02-8829468

Fax No

:

88-02-9891011

E-mail

:

kaniz.fatema@acigodrej.com

Website

:

www.acigodrejagrovet.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

4500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

Project Address :

 

 

 

Address

:

Feed mill:

Bhadraghat, P.S., Kamarkhand, Dist- Sirajganj, Bangladesh.

 

Address

:

Hatchery:

Joynabazar, Gazipur, Bangladesh.

 

Address

:

Breeding Farm:

Panchagor, Kaderhat, Bangladesh.

 

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

72.5

Acores

 

Corporate Office :

 

 

 

Address

:

245, Tejgoan I/A, Aci Centre, Dhaka-1208, Bangladesh.

Tel No

:

88-02-9885694

Fax No

:

88-02-9884784

 

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

60

In Factory

:

2440

In Branch:

:

-

Total

:

2500

Details:

 

                     

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Advanced Chemical Industries Ltd

1850000

Godrej Agrovat Limited

1850000

 

 

DIRECTORS

 

Name

Designation

Dr. A.K.M. Fayzul Haque Ansarey

Chairman

Mr. Puneet Pokhriyal

Managing Director

Mr. M Anis Ud Dowla

Director

Dr. Arif Dowla

Director

Mr. Nadir B. Godrej

Director

Mr. B.S. Yadav

Director

 

 

MANAGEMENT

 

Name

:

Mr. Md. Abdur Rashid

Job Description

:

Accounts Officer

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

 

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

Item Dealings In:

 

Products

:

Poultry Feed, Aqua Feed, Cattle & Shrimp Feed, Day Old Chicks    

Production Capacity

:

N/A

Last Year Production

:

N/A

 

Trading Terms:

 

Purchasing Terms:

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

Selling Terms      :

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

 

DETAILED DATA

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

Local Suppliers

:

N/A

 

Trade Markets

 

:

 

Exports

:

N/A

 

Imports

:

China, India, Turkey, Germany.

 

 

 

Brand Name

:

Nil

Certified

:

Nil

Auditors

:

Rahman & Rahman Haque

Chartered Accountant

Operation Status

:

Active

Member

:

 Dhaka Chamber of Commerce & Industry.

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

Tk. 50 Corer

 

Paid-up Capital

:

Tk. 37,00,00,000

    No. of Shares

:

37,00,000

Share Value

:

Tk.100.0Each

Main Assets

:

Tk. 1835.20 Million.

 

 

 

 

 

FINANCIAL STATEMENT- DETAILED

 

The subject company don’t submit update full financial figure to local registry office.

 

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Advanced Chemical Industries Ltd.

ACI Formulation Limited

ACI Logistics Limited

ACI Pure Flour Limited

ACI Foods Limited

ACI Salt Limited

Creative Communication Limited

Premiaflex Plastics Limited

ACI Agrochemicals Limited

Flyban Insecticides Limited

Apex Leather Craft Limited

ACI Godrej Agrovet Private Limited

Tetly ACI (Bangladesh) Ltd.

Asian Consumer Care (pvt) Ltd.

ACI Consumer Electronics

ACI Chemical Industries Limited

Subsidiary

:

N/A

Name of  The Group

:

Aci Group.

 

 

BANKING

 

Bank Name  

:

Standard Chartered Bank 

Bank Address

:

Gulshan Branch.

Block-NW (A), 189 Gulshan Avenue (North), Gulshan 2.

 

Bank Name  

:

The Hongkong and Shanghai Banking Corporation

Bank Address

:

Motijheel Branch.

City Centre, 103 Motijheel C/A, Dhaka - 1000

Telephone : (880 2) 9553053-6(Direct), 7113711-2, 7113714-8 Ext: 149-162

Mobile: 01199-88HSBC(4722), 01199-88LOAN(5626)

Facsimile : (880-2)9568122, 9568236, 9550173 (Ext-200)

 

 

 

Bank Name  

:

Commercial Bank of Ceylon Plc

Bank Address

:

Gulshan Branch,

49, Gulshan Avenue, Dhaka-1212.

Ph# (88 02) 9888774, 8824380

 

 

 

Bank Name  

:

Habib Bank of Pakistan

Bank Address

:

Gulshan Branch

South Avenue Tower, 7 Gulshan Avenue, Road # 3, Gulshan -1, Dhaka-1212 Bangladesh

Tele: 880-2-9884954, 9883505. FAX:880-2-9883064

Email:   hblgulshan@hblbd.com,

tanvir@hblbd.com                                

 

 

ADVERSE DATA MONITORING

 

Dishonored Checks           

 

:     

No Record Found         

Debt

 

:

No Record Found

Litigation  

                   

:

Clear         

Performance Defaults

 

:

No Record Found         

Adverse Local Media Coverage/ Adverse Filling History

:

No Record Found

 

 

SITE VISIT COMMENTARY

 

Our Representative Visited the subject company Head office which is situated at Kaderia Tower (9th Floor), JA 28/8/B, Mohakhali, C/A, Dhaka-1212, Bangladesh. The subject company Accounts Officer Mr. Md. Abdur Rashid given us all information. Is situated at commercial area which is a well decorated modern office.

 

 

GENERAL COMMENTS

 

The subject company is a well-known reputed company in Bangladesh.  Their products popular to the local customers.   So day by day the subject companies increase their goodwill.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.47

UK Pound

1

Rs.99.70

Euro

1

Rs.81.55

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NNA

 

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.