MIRA INFORM REPORT

 

 

Report Date :

19.11.2014

 

IDENTIFICATION DETAILS

 

Name :

PROBIOTECH INDUSTRIES PVT. LTD.

 

 

Registered Office :

GPO Box: 5751, Senamangal, Kathmandu

 

 

Country :

Nepal

 

 

Financials (as on) :

15.07.2013

 

 

Date of Incorporation :

03.07.2003

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Poultry and Cattle Feed

 

 

No of Employees :

100

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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. Nepal is heavily dependent on remittances, which amount to as much as 22-25% of GDP. Agriculture is the mainstay of the economy, providing a livelihood for more than 70% 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 commercially feasible capacity, but political uncertainty and a difficult business climate have hampered foreign investment. Additional challenges to Nepal's growth include its landlocked geographic location, persistent power shortages, underdeveloped transportation infrastructure, civil strife and labor unrest, and its susceptibility to natural disaster. The lack of political consensus in the past several years has delayed national budgets and prevented much-needed economic reform, although the government passed a full budget in 2013.

 

Source : CIA

 

COMPANY NAME & ADDRESS

 

PROBIOTECH INDUSTRIES PVT. LTD.

 

Regd. / Corporate Office:          GPO Box: 5751, Senamangal, Kathmandu, Nepal.

Telephone                     :           977-51-522336

Mobile                          :           9779804201447 (Mr. Ghanshyam Gupta)

Email                            :           corporate@nimbusnepal.com/ siramangal@nimbusnepal.com

Location                       :            Owned

 

Factory                         :                       Lipani, Birta, VDC 8, Birganj, Parsa    

Location                       :            Owned

Telephone:

977-51-522336

Mobile Phone:

00977 9855022191

Fax:

977-51-520964

 

Branch Office                :                       Tulsyan Building, Adarshnagar, Above Bank of Kathmandu, Birgunj, Nepal.

 

 

History     

 

It is a Private Limited Company incorporated at Kathmandu under His Majesty  Govt.

Act No. 15747 of 03-07-2003

 

 

Directors  

 

1.         Jagdish Prosad Agarwal, Chairman

2.         Anand Bagaria,  MG Director

3.         Umang Bagaria

 

 

Bankers     

 

1.             Nepal Indo-Swiss Bank Limited, Kathmandu (Nepal)

2.             Nepal Bank Ltd., Kathmandu (Nepal)

3.             Nepal Grindlays Bank, Kathmandu (Nepal)

4.             Bank of Kathmandu Ltd. (Nepal)

5.             Nepal Investment Bank Limited, Branch – Kathmandu, Nepal

 

 

Shareholders           

 

1.         Ashok Kumar Bagaria (40%)

2.         B.K. Bagaria (20%)

3.         S.K. Bagaria (20%)

4.         S.R. Srestha (20%)

 

 

Auditors    

 

1.         S. K. Surana & Co., New Road, Kathmandu (Nepal).

2.         J.K. Associates

 

 

Business

 

They are the leading Poultry Feed manufacturer in Nepal. They require for our feed industry various raw materials for manufacturing Poultry and Cattle Feed. Our factory is situated in the second largest city of Nepal which is adjacent to Indian Boarder Town of Raxaul Maize, Soya Doc, Feed Additives, De-Oiled Rice Bran, Vitamins & Minerals, Shell Grits, Mustard Doc, Meat Bone Meal, Marble Dust  Probiotech Industries is the first feed industry to receive ISO 9001: 2008 and NS certification. It has the latest pelleting plant with autobatching facility producing 300 MT of feed every day. “Shakti” is the largest selling animal feed brand in Nepal with 25% of the market share of feed in Nepal.


Probiotech deals with approximately 20 products in animal feed, another 20 in feed supplements and around 20 more in fine chemicals, vaccines and medicines. It’s the largest importer of fine chemicals for animal nutrition in Nepal. It has the largest and most advanced grain storage facility, SILO, of 25,000 MT at any point of time.


In an aim of business integration and expansion, Probiotech has installed a state of art soybean extraction plant in the manufacturing premises. The soybean by-product is used in feed mill for feed production as well as sold in the market under the brand name SOYMAX. It is a trusted brand in its segment and widely accepted by the industry leaders.

The feed production facility is well equipped with a fully functioning laboratory where extensive research and development activities are carried out. A full-fledged Wet Chemistry Laboratory, High Performance Liquid Chromatography (HPCL) Lab and Near Infra Red (NIR) Lab ensures thorough quality test of our products before they are launched in the market. This further eliminates the lengthy wet chemistry process which takes days to compete. Multiple parameters can be checked in just 5 minutes. These tests enable the stricter control on raw material selection and quality control of finished goods.

 

 

Exports

 

 

Products :

Poultry and Cattle Feed

Countries :

India

Imports

 

 

Products :

Raw Materials

Countries :

India, UK, Brazil, US

 

 

TRADING Terms

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit 

 

 

Type of Customers

 

End Users

 

 

Employees

 

100

 

 

Trade trams        

 

Japan, China, Korea & India.

 

 

Financial

                                               

BALANCE SHEET AS AT 15th JULY, 2013

 

LIABILITIES

NP. RUPEES

ASSETS

NP. RUPEES

Authorised Capital

60,000,000

Fixed Assets

63,913,740

Paid up Capital

50,787,500

Cap. Work in Progress

2,080,852

Reserve & Surplus

12,331,261

Current Assets

50,674,391

Secured Loans

51,337,942

Deferred Tax Net

2,099,000

Unsecured Loans

4,348,332

Miscns. Expenses

37,052

Total Nep. Rs.

118,805,035

Total Nep. Rs.

118,805,035

 

Sales                            :           Nep Rs.80,014,028/-

Profit of this year          :           Nep Rs.  10,075,182/-

Deferred Tax Adjust      :           Nep Rs.   3,270,344/-

Net Profit                      :           Nep Rs.      631,261/-

 

 

Remarks           

 

Well Establish & respectable, payments are reported to be correct & regular. Business may be done at usual trade terms and conditions.

 

 

INFORMATION PARTED

 

(GENERAL DETAILS)

Name :

Mr. Ghanshyam Gupta

Designation :

Purchase Manager

Contact No.:

9779804201447

Date :

18.11.2014

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.81

UK Pound

1

Rs.96.77

Euro

1

Rs.77.09                      

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SMN

 

 

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.