MIRA INFORM REPORT

 

 

Report No. :

325777

Report Date :

24.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SUNRISE CONTAINER PVT. LTD.

 

 

Registered Office :

GPO: 1250, Ktm, Tripur Eshwor Kathmandu

 

 

Country :

Nepal

 

 

Financials (as on) :

15.07.2013

 

 

Date of Incorporation :

12.10.1999

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturing, Importing and Exporting of Plastic containers and tube.

 

 

No. of Employee :

300

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 and 2014. Nepal and India signed trade and investment agreements in 2014 that will amp up Nepal’s hydropower potential.

 

Source : CIA

 

Company Identification Details

 

Enquired Name

:

Sunrise Container Pvt.Ltd.

Correct Name of Company

:

Sunrise Container Pvt. Ltd.

Registered Office

:

Address: GPO: 1250, Ktm, Tripureshwor

City: Kathmandu

Country: NEPAL

Phone: 4244796, 4244797, 4225003

Fax: 4222506

Email: sungroup@mos.com.np

Works

:

Link Road, Birgunj, Parsa, Nepal

Phone    :  977-051 - 522695, 522970

Industry

:

Containers

Nature of Activity

:

Manufacturing, Importing and Exporting of Plastic containers and tube.

 

 

Official Company Data

 

Legal Form

:

Private Limited Company
Corporate Identity Number (CIN)

:

10151
ROC Code 

:

Kathmandu

Registration Date

:

12.10.1999
Employee

:
300
Business Activity / Product

Description

:

Manufacturing, Importing and Exporting of Plastic containers and tube.

Auditor

:

AUDITORS

G. Chatterjee, Kathmandu, Nepal.
Bankers

:

Nepal SBI Ltd., Kathamndu, Nepal.

Nepal Grindlays Bank , Kathmandu, Nepal

Bank of Kathmandu, Nepal

Nepal Arab Bank Ltd.

Siddharth Bank, Nepal

HBL Bank, Nepal

Export

:

Products: Plastic

Country :  India

Import

:

Products: Raw Material 

Country :  India
Trading Terms

:

Purchasing Terms: Cheque and Credit

Sales Terms : Cheque and Credit
Type of Customers

:

Wholesalers, Retailers and Manufacturer

 

 

 

 

 

Capitalization Structure

 

Authorized Share Capital

:             

Authorised Capital : 10,000,000/- (1,000,000 Equity Shares of Rs.10/- each)

Issued, Subscribed & Paid Up Capital

:

Paidup : 1,000,000/- (100,000 of Rs.10/- each)

Face Value

:

Rs. 10/- each.

Last AGM

:

July 15, 2013

 

 

Balance Sheet

                                                                                    (Amount in Rupees Mln.)

BALANCE SHEET AS AT 15.07.2013

Liabilities

Amount (Rs.)

 

Assets

Amount (Rs.)

 

 

 

 

 

Paid up Capital

1,000,000

 

Fixed Assets

10,947

Reserve & Surplus

10,618,987

 

Investments

3,000,000

Deffered Tax

8,944

 

Loans & Advances

15,348,954

Current Liabilities & Prov.

13,481,829

 

Cash & Bank

6,749,859

 

 

 

 

 

 

 

 

 

 

Total

25,109,760

 

 

25,109,760

 

 

 

 

 

 

Rs.

 

Sales

21,036,920

 

Profit before Tax

10,382,600

 

Profit after Tax

6,568,911

 

 

 

Board of Directors

 

Name

Mr. Laxmi Gopal Shrestha

Mr. Soumitra Roy

Ashwin Choksi

Mahendra Choksi

Mr. R. l. Agarwal

Mr. Ravi Agarwal

Mrs. Anjali Agarwal

Information parted by

 

Name :

Mr. Mukesh

Designation :

Manager

Contact No.:

0977-51-522695

Date :

04.06.2015

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.64

UK Pound

1

Rs.100.41

Euro

1

Rs.71.63

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ANK

 

 

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.