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Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
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Name : |
LODHIA GROUP OF CAMPANIES LIMITED |
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Registered Office : |
Themi Industrial Area, Mianzini, Arusha P. o. Box 12167 Arusha, |
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Country : |
Tanzania |
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Date of Incorporation : |
28.03.2012 |
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Com. Reg. No.: |
90275 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate
as dealers in building products mainly gypsum |
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No. of Employees : |
40 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Tanzania |
B2 |
B2 |
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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 |
TANZANIA - ECONOMIC
OVERVIEW
Tanzania is one of the
world's poorest economies in terms of per capita income, however, it has achieved
high overall growth rates based on gold production and tourism. Tanzania has
largely completed its transition to a liberalized market economy, though the
government retains a presence in sectors such as telecommunications, banking,
energy, and mining. The economy depends on agriculture, which accounts for more
than one-quarter of GDP, provides 85% of exports, and employs about 80% of the
work force. The World Bank, the IMF, and bilateral donors have provided funds
to rehabilitate Tanzania's aging economic infrastructure, including rail and
port infrastructure that are important trade links for inland countries. Recent
banking reforms have helped increase private-sector growth and investment, and
the government has increased spending on agriculture to 7% of its budget. The
financial sector in Tanzania has expanded in recent years and foreign-owned
banks account for about 48% of the banking industry's total assets. Competition
among foreign commercial banks has resulted in significant improvements in the
efficiency and quality of financial services, though interest rates are still
relatively high, reflecting high fraud risk. All land in Tanzania is owned by
the government, which can lease land for up to 99 years. Proposed reforms to
allow for land ownership, particularly foreign land ownership, remain
unpopular. Continued donor assistance and solid macroeconomic policies
supported a positive growth rate, despite the world recession. In 2008,
Tanzania received the world's largest Millennium Challenge Compact grant, worth
$698 million, and in December 2012 the Millennium Challenge Corporation
selected Tanzania for a second Compact. Dar es Salaam used fiscal stimulus and
loosened monetary policy to ease the impact of the global recession. GDP growth
in 2009-13 was a respectable 6-7% per year due to high gold prices and
increased production.
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Source
: CIA |
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Registered Name: |
LODHIA GROUP OF
CAMPANIES LIMITED |
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Requested Name: |
LODHIA GYPSUM INDUSTRIES LTD |
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Trade Names: |
LODHIA GYPSUM INDUSTRIES LTD |
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Physical Address: |
Themi Industrial Area, Mianzini, Arusha, |
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Postal Address: |
P. o. Box 12167 |
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Arusha, |
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Country: |
Tanzania |
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Phone: |
255-27-2548504/2548520 |
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Fax: |
255-27-2548748 |
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Email: |
info@lodhiagroup.com, sales@lodhiagroup.com, |
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Website: |
www.lodhiagroup.com |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
28-March-2012 |
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Reg. Number: |
90275 |
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Nominal Capital |
TZS. 1,000,000 |
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Subscribed Capital |
TZS. 1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Bhachu Harminder Singh |
Director |
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Mr. Manjit Singh |
Director |
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Lodhia Group Of Campanies Limited |
Holding Co. |
100% |
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Lodhia Group Of Campanies Limited |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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Lodhia
Steel Industries Ltd, Lodhia Trading Company Ltd, Steel Centre Ltd, Lodhia Plastic Industries Ltd, Lodhia Gases Ltd, Signature Gems, Themi Suites. |
Shareholder of subject firm. |
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None |
Branches of the firm |
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Registered to operate as dealers in building products mainly gypsum |
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Imports: |
Asia |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
firms and organizations |
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Employees: |
40 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Tanzania |
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Location: |
Leased premises, 10,000 square feet, |
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Auditors: |
Information not available. |
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Insurance Brokers: |
Information not available. |
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Currency Reported: |
Tanzanian Shillings (TZS.) |
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Approx. Ex. Rate: |
1 US Dollar = 1613.50 Tanzanian Shillings |
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Projected Fiscal Year End: |
December 31, 2014 |
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Projected Inflation: |
According to information given by independent sources, the inflation at December 31st, 2014 was of 13%. |
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Financial Information not Submitted |
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Profit and Loss (expressed in TZS.) |
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2013 |
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Projected Sales |
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28,000,000 |
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_______________________________________________________________________ |
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Bank Name: |
CRBD |
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Branch: |
Tanzania |
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Comments: |
None |
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Experiences: |
Good |
None
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This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.45 |
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|
1 |
Rs.97.76 |
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Euro |
1 |
Rs.76.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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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 |
-- |
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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.