MIRA INFORM REPORT

Report No. :	323413
Report Date :	28.05.2015

IDENTIFICATION DETAILS

Name :	NATIONAL FEED MILL LTD.
Registered Office :	House #20/B, Road #14, Sector# 4, Uttara, Dhaka-1231
Country :	Bangladesh
Financials (as on) :	31.12.2014
Date of Incorporation :	22.12.1999
Com. Reg. No.:	C-39289
Legal Form :	Public Listed Co
Line of Business :	Subject is manufacturer and distributor of feeds
No. of Employee :	185

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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
Bangladesh	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	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, accounted for more than 80% of total exports and surpassed $18 billion in 2014. 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 $14 billion and 8% of GDP in 2014 - are the largest contributors to Bangladesh’s current account surplus and rising foreign exchange holdings.

Source : CIA

Company name

NATIONAL FEED MILL LTD.

IDENTIFICATION DETAILS
Correct company Name	:	National Feed Mill Ltd.
Head Office	:	House #20/B, Road #14, Sector# 4, Uttara, Dhaka-1231, Bangladesh.
Tel No	:	88-02- 8950643, 8950376,8960746
Fax No	:	88-02-8950425
E-mail	:	info@nationalgroup-bd.com
Website	:	www.nationalgroup-bd.com
Date/ Year of Incorporation	:	December 22, 1999
Incorporation No.	:	C-39289
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)

Year	Turnover/ Sales	Assets	Income
July’ 12~June’ 13	BDT 1,530,273,880	BDT 1,143, 562,707	BDT 74,045,726
July’ 13~June’ 14	BDT 1,511,598,211	BDT 1,392,706,868	BDT 73,861,802
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

Information Parted By
Name	:	Mr. Md. Arifur Rahman
Designation	:	Company Secretary
Contract No	:	N/A

Locations Details
Operating Address	:	House #20/B, Road #14, Sector# 4, Uttara, Dhaka-1231, Bangladesh.
Tel No	:	88-02- 8950643, 8950376
Fax No	:	88-02-8950425
E-mail	:	info@nationalgroup-bd.com, general@nationalgroup-bd.com
Website	:	www.nationalgroup-bd.com

Location :

: Owned

Ö

Rented

Leased

Area

3400

Sq. ft.

Type of Office :	: Commercial Office Bldg.			Semi-commercial office Bldg.
	Retail shop		Industrial Park
	Business Center		Home Office
	Residential Bldg.	Ö

Factory:
Address	:	Baniarchala, Memberbari, Bhabanipur, Gazipur, Bangladesh
Tel No	:	N/A
Fax No	:	N/A

Location :

Owned

Ö

Rented

Leased

Area

5

Acores

Branches:
Address	:	Nil
Tel No	:	Nil
Fax No	:	Nil

Employee:
No. of Employees	In Office	:	25	In Factory	:	160
	In Branch:	:		Total	:	185
Details:

Names of Shareholders	No. of Share
Mr. Akhtar Hossain Babul	3,147,540
Mrs. Farida Jahan Babul	16,242,060
Mr. Adib Hossain Babul	3,398,400
Mr. Imtiaz Ali	1,860,000
Mr. Rezaul Karim	1,440,000
Mrs. Lipi Sultana Karim	1,440,000
National Hatchery (Pvt.) Ltd.	2,472,000
Mrs. Rogina Akter	100,000
Mr. Anukul Chandra Biswas	50,000
Mr. Kakoly Dhar	350,000
Mr. Joy Prokash Narayan	100,000
Mr. Partha Partim Das	100,000
Mrs. Ayesha Siddika	563,000
Mr. Rezaul Halim	350,000
PLES Investment Limited	1,500,000
ICB Capital Management Limited	900,000
Meghna Insurance Company Ltd.	100,000
Bangladesh Fund	2,000,000
Janata Capital and Investment Ltd.	250,000
Mr. Md. Siful Islam	150,000
Mr. Samir M Rahman	500,000
Mrs. Sabiha Yesmin	50,000
Mr. Md. Abdus Salim	100,000
PLFSIL Investors Portfoho Accounts	2,217,000
Mr. Suman Chakravorty	20,000
Mrs. Farhana Afroz	100,000
Mr. Abdul Al Mahmud	100,000
Madhabi Rani Das	100,000
Mr. Sovandu Bikash Saha	50,000
Mrs. Sahida Alam	62,500
Mr. Mahmudul Haq Arif	75,000
Mr. Morshdur Rahman	50,000
Mr. Md. Hasibur Rahman	62,500
General Public	18,000,000

Name	Designation
Mrs. Farida Jahan Babul	Chairman
Mr. Akhtar Hossain Babul	Managing Director
Mr. Adib Hossain Babul	Director
Mr. Imtiaz Ali	Director
Mr. Rezaul Karim	Director
Mrs. Lipi Sultana Karim	Director
SM Nurul Alam Chowdhury	Independent Director
A Mannan Mir	Independent Director

Name	:	Mr. Akhtar Hossain Babul	Managing Director
Job Description	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Firoj Alam
Job Description	:	CFO
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

Nature of Activity :	Manufacturer	Ö	Trader	Dealer	Distributor	Ö
	Exporter		Importer	Services	Others

Range of Products:
Products	:	Feeds
Production Capacity	:	5-8 Tonnes per Hour
Last Year Production	:	Do

Trading Terms:

Purchasing Terms:	L/C	Ö	Cash	Others
	Credit :		30 days	60 days	Ö	90 days	days

Selling Terms :	L/C		Cash	Ö	Others
	Credit :	Ö	30 days		60 days	90 days	days

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			:	India, China
Brand Name			:	N/A
Certified			:	N/A
Auditors			:	Ahmed Zaker & Co Chartered Accountants
Operation Status			:	Active
Member			:	N/A

Authorized Capital	:	BDT 200 Million
Paid-up Capital	:	BDT 580,000,000	No. of Shares	: 58000000	Share Value	:	BDT10.00Each
Main Assets	:	BDT 1,392,706,868

Balance Sheet :
	Currency	BDT
	Denomination	: 1
	Financial Year Ending	:July,31~June,30

Income Statement :
	Currency	:BDT
	Denomination	: 1
	Financial Year Ending	:July,31~June,30

Sister Concerns	:	National Hatchery Limited, Karnapur Agro Industries Limited, Karnapur Hatchery Limited, NationalElectrode & Electronics Limited
Subsidiary	:	Nil
Name of The Group	:	National Group

Bank Name	:	Bank Asia Ltd. Social Islami Bank Ltd. Meghna bank Ltd.
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

Our representative visited the subject company Head Office which is situated at House #20/B, Road #14, Sector# 4, Uttara, Dhaka-1231, Bangladesh. It is Situated at Residential area.

The subject company is engaged in manufacturer &Distributors. It is reputed company in this line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.95
UK Pound	1	Rs.98.64
Euro	1	Rs.69.86

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	ASH

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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