MIRA INFORM REPORT

 

 

Report No. :

342787

Report Date :

01.11.2015

 

IDENTIFICATION DETAILS

 

Name :

DINESH MOTORS PVT LTD

 

 

Registered Office :

Dhangadi-04 Chatarpur Kailali

 

 

Country :

Nepal

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

11.11.2006

 

 

Legal Form :

Nepal Pvt Ltd

 

 

Line of Business :

Sales of Vehicles like car, tractor, byke

 

 

No. of Employees :

Not Available

 

 

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 :

Slow but correct

 

 

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 increase Nepal’s hydropower potential.

 

Source : CIA

 

Company Identification Details

 

Enquired Name

:

DINESH MOTORS PVT LTD

Correct Name of Company

:

DINESH MOTORS PVT LTD

Registered Office

:

DHANGADI-04 CHATARPUR

KAILALI, NEPAL

Office

:

As above

Telephone No.

:

977-91-520892, 521391

Industry

:

Sales of Vehicles like car, tractor, byke

Nature of Activity

:

Sallers

 

 

Official Company Data

 

Legal Form

:

Nepal Pvt Ltd

Corporate Identity Number (CIN)

:

44314

ROC Code 

:

Kathmandu

Registration Date

:

11.11.2006

Issuing Authority

:

Registrar of Companies (ROC)

Authorised Capital

:

Rs. 150,000,000

Paid-up Capital

:

Rs. 97,038,500

Auditor

:

M/s. D K Chhettri & Co., Chartered Accountants

 

 

Board of Directors

 

Name

Designation

D. Agarwal

Director

S. Agarwal

Director

B. Khettri

Director

 

 

Capitalization Structure

 

Authorized Share Capital

:             

Rs. 150,000,000 divided into 15000000 Equity Shares of Rs. 10/- each.

Issued, Subscribed & Paid Up Capital

:

Rs. 97,038,500 divided into Rs. 9703850 Equity Shares of Rs. 10/- each.

Face Value

:

Rs. 10/- each.

Last AGM

:

July 19, 2013

 

 

 

 

Performance of Company

           

FINANCIAL HIGHLIGHTS

 

 (Rs. in lacs)

                                                                                            2012-13                             2010-11

 

 Sales & Other Income                    65372.20          38540.35

 

 Gross profit                              743.53           6631.43

 

 Less: Depreciation                        644.63            670.65

 

 Profit before taxes                        98.90           5960.78

 

 Less : Provision for taxation:

 

 For Income Tax                            108.46           2046.00

 

 For Fringe Benefit Tax                      6.41              4.28

 

 For Deferred Tax                          (30.02)            (7.03)

 

 Profit after taxes                         14.05           3917.53

 

 Add/(Less): Provision for taxation for

 earlier year                                  -              89.65

                                            14.05           4007.18

 Add: Profit brought forward from

 previous year                            7092.34           3654.34

 

 Balance available for appropriation      7106.39           7661.52

 Appropriation

 Proposed dividend

 

 On equity shares                           97.04            194.08

 

 On preference shares                       10.36             36.00

 

 Income tax on proposed dividend            18.25             39.10

 

 Transfer to General Reserve                  -              300.00

 Transfer to Capital Redemption Reserve    360.00               -

 

 Balance retained in Profit & Loss A/c    6620.74           7092.34

 

                                          7106.39           7661.52

Balance Sheet

                                                                                   

------------------- in Rs. Cr. -------------------

 

Mar '11

Mar '12

Mar '13

blank

12 mths

12 mths

12 mths

Sources Of Funds

Total Share Capital

13.31

13.31

9.71

Equity Share Capital

9.71

9.71

9.71

Share Application Money

0.00

0.00

0.00

Preference Share Capital

3.60

3.60

0.00

Reserves

44.49

81.87

78.96

Revaluation Reserves

0.00

0.00

0.00

Networth

57.80

95.18

88.67

Secured Loans

37.76

88.76

142.43

Unsecured Loans

0.00

10.00

0.00

Total Debt

37.76

98.76

142.43

Total Liabilities

95.56

193.94

231.10

Mar '11

Mar '12

Mar '13

blank

12 mths

12 mths

12 mths

blank

Application Of Funds

Gross Block

72.73

76.60

78.28

Less: Accum. Depreciation

17.62

24.32

30.75

Net Block

55.11

52.28

47.53

Capital Work in Progress

9.98

44.44

72.25

Investments

3.30

14.74

5.10

Inventories

30.77

103.79

88.08

Sundry Debtors

9.46

36.71

39.62

Cash and Bank Balance

1.67

1.35

2.98

Total Current Assets

41.90

141.85

130.68

Loans and Advances

7.34

29.29

74.67

Fixed Deposits

1.91

4.67

5.78

Total CA, Loans & Advances

51.15

175.81

211.13

Deffered Credit

0.00

0.00

0.00

Current Liabilities

22.35

90.48

103.40

Provisions

1.62

2.86

1.52

Total CL & Provisions

23.97

93.34

104.92

Net Current Assets

27.18

82.47

106.21

Miscellaneous Expenses

0.00

0.00

0.00

Total Assets

95.57

193.93

231.09

 

 

Information Denied

 

Management Non-cooperative (977-91-520892/521391/2/ 977-91-525192/524992)


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.74

UK Pound

1

Rs.99.53

Euro

1

Rs.73.80

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

TRU

 

               

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.