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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

502420

Report Date :

11.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

PANNA BATTERY LIMITED

 

 

Registered Office :

Nasir Trade Centre (Level-12), 89, Bir Uttam C. R. Datta Road (300/3 & 300/4 Sonargaon Road) Dhaka

 

 

Country :

Bangladesh

 

 

Financials (as on) :

30.06.2017 [Summarized]

 

 

Date of Incorporation :

13.07.2006

 

 

Com. Reg. No.:

C-62721

 

 

Legal Form :

Private Co 

 

 

Line of Business :

Manufacturer, Distributor and Exporter of Lead-Acid Batteries.     

 

 

No. of Employees :

3000

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

 

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

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

 

Country Name

                Previous Rating               

(30.09.2017)

Current Rating

(31.12.2017)

Bangladesh

A2

A2

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

BANGLADESH - ECONOMIC OVERVIEW

 

Bangladesh's economy has grown roughly 6% per year since 1996 despite prolonged periods of political instability, poor infrastructure, endemic corruption, insufficient power supplies, and slow implementation of economic reforms. Although more than half of GDP is generated through the services 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 were on track to again surpass $25 billion in 2017. The sector continues to grow, despite the need for improvements in factory working conditions to avert further high-profile accidents that have killed more than 1,000 workers in recent years. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $13 billion and 6% of GDP in 2016 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.

 

The recent influx of hundreds of millions of additional refugees from Burma will place pressure on the Bangladeshi government’s budget and the country’s rice supplies, which declined in 2017 in part because of adverse weather.

 

Source : CIA

 

 

 

IDENTIFICATION DETAILS

Correct company Name

:

PANNA BATTERY LIMITED

Head Office

:

Nasir Trade Centre (Level-12), 89, Bir Uttam C. R. Datta Road (300/3 & 300/4 Sonargaon Road) Dhaka, Bangladesh.

Tel No

:

88-02- 9612089, 8620929, 8629401, 9612087,

Fax No

:

88-02- 8624243

E-mail

:

info@pannagroupbd.com, supplychain@pannagroupbd.com,

ceo@pannagroupbd.com

Website

:

www.pannagroupbd.com

Date/ Year of Incorporation

:

13.07.2006

Incorporation No.

:

C-62721

Legal Form (General)

:

 Public Listed Co        Public (but not listed)   Private Co   State-owned Co

 Sole Proprietorship    Partnership                   Not Registered

 others (please specify) ________________

Legal form (Specific)

:

LTD   CORP    INC  CO    

 others (please specify) ________________

Issuing Authority

:

Registrar of Joint Stock Companies & Firms   South City Corporation

 Municipal Administration                             Union Council

 Cantonment Board                                               Chief Controller of  Import & Export (CCIE)

 

 

FINANCIALS- SUMMARY

 

      Year

Turnover/ Sales

 Assets

     Income

30th June’2017

BDT 691 Million

BDT 1135.90 Million

BDT 48.30 Million

 

 

 

 

 

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Ashiqul Islam

Designation

:

Executive Director & CEO

Contract No

:

88-01700834209                                          

 

                                                               Locations Details

Operating Address

:

Nasir Trade Centre (Level-12), 89, Bir Uttam C. R. Datta Road (300/3 &

300/4 Sonargaon Road) Dhaka, Bangladesh.

Tel No

:

88-02-9612089, 8620929, 8629401, 9612087

Fax No

:

88-02-8624243

E-mail

:

info@pannagroupbd.com, supplychain@pannagroupbd.com,

ceo@pannagroupbd.com

Website

:

www.pannagroupbd.com

 

Location :

: Owned

Ö

 

Rented

 

 

Leased

 

Area

3500

Sq. ft.

 

 

Type of Office :

  :       Commercial Office Bldg.

Ö

 

Semi-commercial office Bldg.

 

     

Retail shop

 

 

Industrial Park

 

     

Business Center

 

 

Home Office

 

     

Residential Bldg.

 

 

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

West Rasulpur, Kamrangirchar, Dhaka-1211, Bangladesh                                                   

Tel No

:

N/A

Fax No

:

N/A

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

120

In Factory

:

2880

In Branch:

:

-

Total

:

3000

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Al-Haj Md. Lokman Hossain

9000

Mr. Md. Abul Bashar Khan

5000

Mr. Md. Shahid Khan

3000

Ms. Jonaky Begum

2000

Ms. Natasha Akter Asha

1000

 

 

DIRECTORS

 

Name

Designation

Mr. Al-Haj Md. Lokman Hossain

Managing Director

Mr. Md. Abul Bashar Khan

Director

Mr. Md. Shahid Khan

Director

Ms. Jonaky Begum

Director

 

 

MANAGEMENT

 

Name

:

Mr. Al-Haj Md. Lokman Hossain

Job Description

:

Managing Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

Name

:

Mr. Ashiqul Islam

Job Description

:

Executive Director & CEO

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01700834209                                          

 

Name

:

Mr. Mahmud

Job Description

:

Officer (Commercial)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01963607264

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

 

Services

 

Others

 

 

Range of Products:

 

Products

:

Lead-Acid Batteries.     

Production Capacity

:

N/A

Last Year Production

:

N/A

 

 

Trading Terms:

 

Purchasing Terms:

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

Selling Terms      :

L/C

Ö

Cash

 

Others

 

 

 

Credit :

 

30 days

 

60 days

Ö

90 days

 

 

days

 

 

DETAILED DATA

 

 

Trade Reference & Related Parties

:

 

Overseas Clients

:

N/A

 

Local Clients

:

N/A

 

Overseas Suppliers

:

N/A

 

Local Suppliers

:

N/A

 

Trade Markets

:

 

Exports(Country)

:

Dubai, Yemen, Korea, VSA, Taiwan

 

Imports(Country)

:

China, India.

 

Brand Name

:

VOLVO, Panna

Certified

:

ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007

Name of Auditors

:

Mr. Al-Haj Md. Lokman Hoissain

Operation Status

:

Active.

Member

:

Battery Council International-USA

 

 

CAPITAL STRUCTURE

 

 

Authorized Capital

:

BDT 30 Million

 

Paid-up Capital

:

BDT 2000000

 

No. of Shares

:

20000

 

Share Value

:

BDT 100.00 Each

 

Main Assets

:

BDT 1135.90 Million

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

 

Name of  The Group

:

Panna Group

 

Name of Mother Company

:

Nil

 

Subsidiary

:

Nil

 

Sister Concerns

:

Panna Powertech Ltd.

Panna Distribution Ltd.

Altu Khan Jute Mills Ltd.

Panna Rural Development Foundation

 

 

 

 

 

 

BANKING

 

 

Bank Name  

:

Prime bank Ltd.        

Bank Address

:

Moulavi Bazer Branch.

77/4, Moulvi Bazar, Dhaka-1100, Bangladesh

Tel: 88-02-7313407, 7311017

Fax:88-02-7318305

 

Bank Name  

:

Eastern bank Ltd

Bank Address

:

Principal Branch

Jiban Bima Bhaban, 10, Dilkusha C/A Dhaka-1000, Bangladesh

Tel: 88-02-9556360, 9565696, 9554830

 

Bank Name  

:

City Bank Ltd

Bank Address

:

Motijheel Branch

Ismail Mansion, 9/H, Motijheel Commercial Area, Bangladesh

Tel: 88-02-7177038, 7176827, 9571432

Fax: 88-02-9563897

 

 

Bank Name  

:

Brac Bank Ltd.

Bank Address

:

Gulshan Branch

Gulshan Avenue, House-50 (GF), Road-3 Gulshan, Dhaka-1212.

Phone: 88-02-8828054, 8819037-8

Fax: 88-02-8894801, 8818624

 

 

 

Bank Name  

:

Standard chartered Bank

Bank Address

:

Gulshan Head office Branch,

67 Gulshan Avenue, Dhaka, Bangladesh.

 

 

ADVERSE DATA MONITORING

 

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

 

 

SITE VISIT COMMENTARY

Our representative visited the subject company Head Office which is situated at Nasir Trade Centre (Level-12), 89, Bir Uttam C. R. Datta Road (300/3 & 300/4 Sonargaon Road) Dhaka, Bangladesh. It’s situated at a Commercial Office Area.

 

 

GENERAL COMMENTS

 

The subject company is a well-known reputed company in Bangladesh.  It is reputed company in this line of business.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.94

UK Pound

1

INR 91.75

Euro

1

INR 79.90

BDT

1

INR 0.79

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

TPT

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.