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MIRA
INFORM REPORT
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Report No. : |
483579 |
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Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
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Name : |
PAHARTALI TEXTILE
& HOSIERY MILLS |
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Registered Office : |
Ispahani Building, Sheik Mujib Road, Agrabad, Chittagong |
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Country : |
Bangladesh |
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Date of Incorporation : |
10.04.1953 |
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Legal Form : |
Sole Proprietorships |
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Line of Business : |
Manufacturer, Distributor, Exporter and Importer of Combed yarn,
Slub yarn, Mélange yarn/day, PC/CVC yarn. |
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No. of Employees : |
1480 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 surpassed $25 billion in 2016. The sector continues to grow, despite a series of high-profile factory accidents that have killed more than 1,000 workers and crippling strikes, including a nationwide transportation blockade orchestrated by the political opposition during the first several months of 2015. Steady export growth in the garment sector combined with remittances from overseas Bangladeshis - which totaled about $15 billion and 8% of GDP in 2015 - are key contributors to Bangladesh's sustained economic growth and rising foreign exchange reserves.
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Source
: CIA |
COMPANY NAME AND ADDRESS
PAHARTALI TEXTILE
& HOSIERY MILLS
EXECUTIVE SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Pahartali Textile & Hosiery Mills |
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Head Office |
: |
Ispahani Building, Sheik Mujib Road, Agrabad, Chittagong, Bangladesh. |
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Tel No |
: |
88-031-716153-6 |
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Fax No |
: |
88-031-710471 |
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E-mail |
: |
ispahani@mmispahani.com, pthm-account@ispahanibd.com,
anis.zaman@ispahanibd.com |
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Website |
: |
www.ispahanibd.com |
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Date/ Year of Incorporation |
: |
10.04.1953 |
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Trade License No. |
: |
173638 |
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Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board
Chief Controller of Import & Export (CCIE) |
Other Registry & Certification Details
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Import
Registration Certificate No |
: |
Ba-31545 |
Date of Registration |
: |
N/A |
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Issuing
Authority |
: |
Chief Controller of Import & Export (CCIE) |
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Organization
Name |
: |
Bangladesh Textile Mills Association |
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Membership No |
: |
N/A |
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FINANCIALS- SUMMARY
|
Year |
Turnover/
Sales |
Assets |
Income |
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31st
December’2015 |
BDT 525
Million |
BDT 41.25 Million |
BDT 33.66 Million |
|
31st December’2016 |
BDT 612 Million |
BDT 67.90 Million |
BDT 37.83 Million |
FULLCHECK REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Sadrul Alam |
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Designation |
: |
Manager (Supply Chain) |
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Contract No |
: |
88-01937900028 |
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Locations Details |
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Corporate Address |
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Ispahani Building, Sheik Mujib Road, Agrabad, Chittagong, Bangladesh. |
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Tel No |
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88-031-716153-6 |
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Fax No |
: |
88-031-710471 |
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E-mail |
: |
ispahani@mmispahani.com,
pthm-account@ispahanibd.com, anis.zaman@ispahanibd.com |
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Website |
: |
www.ispahanibd.com |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
5600 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
Ö |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory: |
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Address |
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Ispahani Complex, Zakir Hossain Road, North
Pahartali, Chittagong, Bangladesh.
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Tel No |
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88-031-751338 |
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Fax No |
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N/A |
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Branches: |
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Address |
: |
N/A |
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Tel No |
: |
N/A |
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Fax No |
: |
N/A |
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Employee: |
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No. of Employees |
In Office |
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50 |
In Factory |
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1430 |
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In Branch: |
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- |
Total |
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1480 |
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Details: |
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PROPRIETOR
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Name of
Proprietor |
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Mr. Mirza Salman Ispahani
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MANAGEMENT
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Name |
: |
Mr. Mirza Salman Ispahani |
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Job
Description |
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Proprietor |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
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N/A |
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Name |
: |
Mr. Mahabubul
Alam |
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Job
Description |
: |
Chief Operating Officer |
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Nationality |
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Bangladeshi |
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Email address |
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mahbub.alam@ispahanibd.com |
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Other details |
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N/A |
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Name |
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Mr. Md. Anisur Rahman |
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Job Description |
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Manager (Finance) |
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Nationality |
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Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Sadrul Alam |
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Job Description |
: |
Manager (Supply Chain) |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01937900028 |
BUSINESS OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
Ö |
Importer |
Ö |
Services |
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Others |
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Range of
Products: |
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Products |
: |
Combed yarn, Slub yarn, Mélange yarn/day,
PC/CVC yarn |
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Production Capacity |
: |
37,000 Kg’s. Per day |
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Export Capacity |
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12 Million Kg’s per year |
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Total installed spindles capacity |
: |
71,760 |
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Raw Materials Requirements |
: |
61,000 Bales per year |
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Raw Materials Consumptions |
: |
61,020 Bales per year |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
Ö |
Cash |
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Others |
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
DETAILED DATA
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Trade Reference & Related Parties |
: |
Overseas Clients |
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N/A |
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Local Clients |
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N/A |
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Overseas Suppliers |
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N/A |
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Local Suppliers |
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N/A |
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Trade Markets |
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Exports(Country) |
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India, Pakistan |
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Imports(Country) |
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China, India. |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Name of Auditors |
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N/A |
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Operation Status |
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Active |
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CAPITAL STRUCTURE
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Capital Invested |
: |
BDT 10 Million |
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Assets |
: |
BDT 67.90 Million |
ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES
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Sister Concerns |
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M.M. Ispahani Ltd. Zarren Farms Limited Ispahani Agro Limited Eastern Associates Ltd. Ispahani agencies Ltd. Khulna Industries Ltd. Eastern Associates Ltd. Ispahani Foods Limited Ispahani Travels Limited Holiday Publication Ltd. Ispahani Marshal Limited Sikomi Properties Limited Victory Jute Products Ltd. A.B. Ispahani & Company. Zarreen Tea Plantation Ltd. South East Trading Limited The Avenue Hotel and Suites Nasirabad Properties Limited Chittagong Jute Mfg. Co. Ltd. Keraniganj Jute Baling Co. Ltd. Free School Street Property Limited Broad Band Telecom Services Limited Ghazipore and Mirzapore Tea Estates (Bangladesh) Limited |
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Subsidiary |
: |
N/A |
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Name of The Group |
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Ispahani Group of Companies |
BANKING
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Bank Name
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Standard
Chartered Bank
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Bank Address |
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Agrabad Branch PHP House, 31, Agrabad C/A, Dhaka,
Bangladesh. |
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Bank Name
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Hong Kong Shanghai Banking Corporation
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Bank Address |
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Agrabad Branch Osman Court, 70, Agrabad C/A, Chittagong –
4100, Bangladesh. Tel: 88-031-710008, 711154, 724406, 723750 Fax: 88-031-710007 |
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Bank Name
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Prime Bank Ltd |
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Bank Address |
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Agrabad Branch Chittagong Chamber House, 38, Agrabad C/A,
Chittagong-4100, Bangladesh Phone: 88-031-727018, 716724-5 Fax: 88-031-718971 |
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Bank Name
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Bank Asia Ltd. |
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Bank Address |
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Agrabad Branch 69, Agrabad C/ A, Chittagong , Bangladesh Tel: 88-031-714665, 724876, 714703 Fax: 88-031-714548 |
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Bank Name
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City Bank Ltd |
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Bank Address |
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Agrabad Branch Banani Complex, 942/A, Sheik Mujib Road,
Word No: 28, Agrabad, Double Mooring, Chittagong-4100, Bangladesh Tel: 88-031-720631-33, 716210 |
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Bank Name
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Rupali Bank Ltd |
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Bank Address |
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Station Road Station
Road,
Chittagong-4100, Bangladesh Tel:
88-031-613886 |
ADVERSE DATA MONITORING
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Dishonored Checks |
:
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No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
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No Record Found |
SITE VISIT COMMENTARY
|
Our Representative Visited the subject company Head office which is situated
at Ispahani Building, Sheik Mujib Road, Agrabad, Chittagong, Bangladesh. It
is situated at commercial area. |
GENERAL COMMENTS
|
Subject is mainly engaged in Manufacturer, Importer & Exporter of
yarn. The subject company maintains acceptable business volume. Based on the financial statements, SC’s financial performance appears
to be average. Having been in operation for several years, Subject enjoys
some recognition and impact in the line. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.06 |
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|
1 |
INR 85.57 |
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Euro |
1 |
INR 75.38 |
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BDT |
1 |
INR 0.78 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
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|
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low risk
of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.