MIRA INFORM REPORT

 

 

Report No. :

489873

Report Date :

22.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SAAKHA   STEEL  INDUSTRIES  PVT.  LTD.

 

 

Registered Office :

Saakha House , Tinkune, Kathmandu, Nepal , Post Box: 15 

 

 

Country :

Nepal

 

 

Financials (as on) :

15.07.2017

 

 

Date of Incorporation :

11.02.1972

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Distributor of automobile gelly motor car exporter of readymade garment manufacturer of steel reinforcement bar (torsteel tmt re bra), copper, brass

 

 

No. of Employees :

32

 

 

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 :

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Nepal

B1

B1

 

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

 

 

NEPAL - ECONOMIC OVERVIEW

 

Nepal is among the 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 30% of GDP. Agriculture is the mainstay of the economy, providing a livelihood for almost two-thirds of the population but accounting for only 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. Nepal and India signed trade and investment agreements in 2014 that increase Nepal’s hydropower potential, but political uncertainty and a difficult business climate have hampered foreign investment.

Nepal was hit by massive earthquakes in early 2015, which damaged or destroyed infrastructure and homes and set back economic development. Political gridlock in the past several years and recent public protests, predominantly in the southern Tarai region, have hindered post-earthquake recovery and prevented much-needed economic reform. Additional challenges to Nepal's growth include its landlocked geographic location, persistent power shortages, and underdeveloped transportation infrastructure.

 

Source : CIA

 

Company name and address

 

SAAKHA   STEEL  INDUSTRIES  PVT.  LTD.

Saakha House 
Tinkune, Kathmandu, Nepal 
Post Box: 15 
PHONE: 977-1-4111598, 4111983, 4111797, 4111985, 4111986 
Fax: 977-1-4111904 
E-mail: info@saakhagroup.com  
Email: steel@saakhagroup.com 

 

 

Company Identification Details

 

Enquired Name

:

SAAKHA   STEEL  INDUSTRIES  PVT.  LTD.

Correct Name of Company

:

SAAKHA   STEEL  INDUSTRIES  PVT.  LTD.

 

 

Official Company Data

 

Legal Form

:

Private Limited Company
Corporate Identity Number (CIN)

:

93402
ROC Code 

:

Kathmandu

Registration Date

:

11.02.1972
Issuing Authority

:

Registrar of Companies (ROC)
Employee

:
32
Business Activity / Product

Description

:

Distributor of automobile gelly motor car exporter of readymade garment manufacturer of steel reinforcement bar (torsteel tmt re bra), copper, brass...

Auditor

:

N. K. Tuladhar & Sons., Kathmandu, Nepal

 
Bankers

:

Bank of Kathmandu, Nepal

 

Nepal Grindlays Bank Ltd., Birganj, Nepal.

 

Board of Directors

Mr. Tej Saakha

Mr. Tara Saakha

Mr. Raj Saakha

 

 

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

 

Financial                                  :

 

BALANCE SHEET AS AT 15.07.2017

 

 

 

 

 

Liabilities

Amount (Rs.)

 

Assets

Amount (Rs.)

Paid Up Capital

14,672,000

 

Fixed Assest

5848248

Secured Loan

27,721,697

 

Investments

4,731,477

Unsecured Loan

3,676,994

 

Inventories

30,000,000

 

 

 

Cash & Bank

5,103,766

 

 

 

Sundry Debtors

387,200

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

46,070,691

 

 

46,070,691

 

 

 

 

 

 

Rs.

 

 

 

Sales

28,063,138

 

 

 

Expenditure

2,027,910

 

 

 

 

 

 

 

 

Profit After Tax

17,675.00

 

 

 

 

INFORMATION DENIED

 

Management Non Co-Operative (Tel No.: 4111986)

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.81

UK Pound

1

INR 90.66

Euro

1

INR 79.94

NPR

1

INR 0.63

 

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

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHA

 

 

Analysis Done by :

PRI

 

 

Report Prepared by :

KET

                                                


 

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)

 

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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.