MIRA INFORM REPORT

 

 

Report No. :

346454

Report Date :

31.10.2015

 

IDENTIFICATION DETAILS

 

Name :

AARTI STRIPS (P) LTD.

 

 

Registered Office :

Ward No. 1, Tankisinwari, V.D.C., Dist.-Morang, Biratnagar 785675

 

 

Country :

Nepal

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

23.11.2000

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer, exporter and importer of galvanised corrugated sheets, colour sheets, black pipes

 

 

No. of Employees :

500 (Approximately)

 

 

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

:

Aarti Strips (P) Ltd.

Correct Name of Company

:

Aarti Strips (P) Ltd.

Registered Office / Factory

:

Ward No. 1, Tankisinwari, V.D.C., Dist.-Morang, Biratnagar, Nepal
Phone: 977-21-421258, 421261, 421262, 421264, 421267

Mobile No.: 977-9852020359 (Ms. Ashwini)
Fax: 977-21-421260, 421263
Email: asplbrt@wlink.com.np.

           accounts@aartistrips.com.np

Branch Office : 

 

Balaju-16, Chakrapath, Kathmandu
Phone: 21-4351851
Fax: 21-4382207
Email: aartistrips@wlink.com.np

 

Nepalgunj, Nepal

Industry

:

Galvanised plant (Manufacturer of Galvanised plant & corrugated sheets)

Nature of Activity

:

Manufacturer, exporter and importer of galvanised corrugated sheets, colour sheets, black pipes

 

 

Official Company Data

 

Legal Form

:

Private Limited Company

Corporate Identity Number (CIN)

:

14317

ROC Code 

:

Kathmandu

Registration Date

:

23.11.2000

Issuing Authority

:

Registrar of Companies (ROC)

Employee

:

500 (Approximately)

Business Activity / Product

Description

:

Manufacturer, exporter and importer of galvanised corrugated sheets, colour sheets, black pipes

Auditor

:

Ashiwini bansal  and Associates

Bankers

:

Everest Bank, Biratnagar, Nepal

Export

:

Product : Finished Goods

Country : India , Bhutan

Importer

:

Product : Raw material

Country : India, Malaysia

Trading Terms

 

Purchase Terms : Cash, L\C and Credit

Sales Terms : Cash, L\C and Credit

Types of customer

 

Wholesales, Retailers and Manufacturer

 

 

Board of Directors

 

Mr. Sanjiv Sharma

Mr. Vishal Gupta

Ms. Ashwini Sharma

 

 

Capitalization Structure

 

Authorized Share Capital

:             

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

Issued, Subscribed & Paid Up Capital

:

Paidup : 14,672,000/- (14,672,00/- of Rs.10/- each)

 

 

Financial

 

 

BALANCE SHEET AS AT 31.03.2013

 

 

 

 

 

Liabilities

Amount (Rs.)

 

Assets

Amount (Rs.)

Paid Up Capital

14,672,000

 

Fixed Assest

5848248

Secured Loan

31,721,697

 

Investments

6,731,477

Unsecured Loan

55,676,994

 

Inventories

33,000,000

 

 

 

Cash & Bank

6,103,766

 

 

 

Sundry Debtors

387,200

 

 

 

 

 

Total

52,070,691

 

 

52,070,691

 

 

 

 

 

 

Rs.

 

 

 

Sales

33,863,138

 

 

 

Expenditure

6,007,910

 

 

 

Profit Before Tax

1,26,763

 

 

 

Profit After Tax

21,125.00

 

 

 

 

 

INFORMATION PARTED BY

(General information)

 

Name :

Ms. Ashwini Shaema

Designation :

Director

Contact No.:

977-9852020359

Date :

27.10.2015

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.15

UK Pound

1

Rs.99.36

Euro

1

Rs.71.25

 

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%)

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.