MIRA INFORM REPORT

 

 

Report Date :

22.09.2014

 

IDENTIFICATION DETAILS

 

Name :

KATHMANDU STEEL PVT LTD

 

 

Registered Office :

Gongabu Chown, Samakushi 29 Kathmandu,

 

 

Country :

Nepal

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

02.08.2006

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer, Trading Company, Agent

 

 

No. of Employees :

450

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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 Identification Details

 

Enquired Name

:

Kathmandu Steel Pvt Ltd

Correct Name of Company

:

Kathmandu Steel Pvt Ltd

Registered Office

:

Gongabu Chown, Samakushi 29 Kathmandu, Nepal

Telephone No.

:

977-1-4271796

Industry

:

Steel

Nature of Activity

:

Manufacturer, Trading Company, Agent.

 

 

Official Company Data

 

Legal Form

:

Private Limited Company
Corporate Identity Number (CIN)

:

67765
ROC Code 

:

Kathmandu

Registration Date

:

August 2, 2006
Issuing Authority

:

Registrar of Companies (ROC)
 

:

 
Company Certified

:

ISO 9001: 2000
Employee

:
450
Business Activity / Product

Description

:

Manufacturer, Trading Company, Agent.

Auditor

:

AUDITORS

B. R. Karki & Co., Kathmandu, Nepal
Bankers

:

Bank of Kathmandu, Nepal

 

Nepal Grindlays Bank Ltd., Kathmandu, Nepal.

 

Nepal Bank Ltd., Kathmandu, Nepal.

 

 

Board of Directors

 

Mr. Nuchhe Maharjan

Mr. Sigme Maharajan

Mr. Suvash Maharajan

Mr. Sankar Shrestha

 

 

Capitalization Structure

 

Authorized Share Capital

:             

30,000,000/- (3,000,000/- Equity Shares of Rs.10/- each)

Issued, Subscribed & Paid Up Capital

:

Paidup : 15,672,000/- (15,672,00/- of Rs.10/- each)

 

 

Financial

 

BALANCE SHEET AS AT 31.03.2011

 

 

 

 

 

Liabilities

Amount (Rs.)

 

Assets

Amount (Rs.)

Paid Up Capital

15,672,000

 

Fixed Assest

5,848,248

Secured Loan

28,822,789

 

Investments

7,731,472

Unsecured Loan

7,759,784

 

Inventories

31,123,761

 

 

 

Cash & Bank

7,163,892

 

 

 

Sundry Debtors

387,200

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

52,254,573

 

 

52,254,573

 

 

 

 

 

 

Rs.

 

 

 

Sales

32,257,249

 

 

 

Expenditure

4,600,725

 

 

 

Profit Before Tax

24,982

 

 

 

Profit After Tax

20,235

 

 

 

 

 

 

 

 

 

Adverse Media Search (Last 3 Years)

 

News Paper

Status

Nepal Times

No record found

Hitobada

No record found

Nepal News

No record found

 

 

 

 

INFORMATION declined BY

 

Unable to contact the company

Tel No: 097714271796

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.80

UK Pound

1

Rs.100.06

Euro

1

Rs.78.46

 

INFORMATION DETAILS

 

Analysis Done by :

SUB DIV RAS SUM KAR

Calling by :

HNA

Report Prepared by :

PDT

 

               

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.