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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

483481

Report Date :

19.01.2018

 

IDENTIFICATION DETAILS

 

Name :

FASHION FABRIC EXPORTS PVT LTD 

 

 

Registered Office :

Morang, Dharan Road, Biratnagar-6

 

 

Country :

Nepal

 

 

Financials (as on) :

15.07.2017

 

 

Date of Incorporation :

19.04.1996

 

 

Legal Form :

Nepal Pvt Ltd

 

 

Line of Business :

Subject is working in Clothing and Accessories business activities

 

 

No. of Employees :

100

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Status :

Moderate

 

 

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

(30.06.2017)

Current Rating

(30.09.2017)

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 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 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 Identification Details

 

Enquired Name

:

FASHION FABRIC EXPORTS PVT LTD 

Correct Name of Company

:

 FASHION FABRIC EXPORTS PVT LTD 

Registered Office

:

MORANG, DHARAN ROAD, BIRATNAGAR-6,  NEPAL

Telephone No.

:

021-524027,021-530472

Fax No.

:

522221

 

Industry

:

Fashion garments

Nature of Activity

:

FASHION FABRICS EXPORT PVT. LTD. is located in Biratnagar, Nepal. Company is working in Clothing and Accessories business activities. 

 

 

Official Company Data

 

Legal Form

:

Nepal Pvt Ltd

Corporate Identity Number (CIN)

:

97998

PAN

 

300067796 

ROC Code 

:

Kathmandu

Registration Date

:

19-04-1996

Issuing Authority

:

Registrar of Companies (ROC)

Authorised Capital

:

10,000,000/-

Paid-up Capital

:

9,850,000/-

Employee

:

100

Auditor

:

 

B.N.Karki & Sons, Kathmandu, Nepal

 

Bankers

:

Nepal Grindlays Bank Ltd.

Nepal Sbi Ltd.

Nabil Bank Ltd.

Bank of Kathmandu

 

 

Board of Directors

 

Name

Designation

Mr.Yogesh Lal Shrestha

Chairman

Mr.Mongesh  Lal Shrestha

M.D.

Mr. Rajen Tuladhar

Director

Mr. Binod Tandurker

Director

 

 

Capitalization Structure

 

Authorised Capital

:

10,000,000/-

Paid-up Capital

:

9,850,000/-

Face Value

:

Rs. 10/- each.

Last AGM

:

15 July, 2017

 

 

Financial

 

BALANCE SHEET AS AT 15.07.2017

Liabilities

Amount (Rs.)

 

Assets

Amount (Rs.)

Paid Up Capital

9,850,000.00

 

Fixed Assest

29839196

Reserve & Surplus

138,993,968

 

Capitl in progress

15,416,898

Deffered 'Tax

18,198

 

Inventories

42,278,272

Secured Loan

51,634,700

 

Sundry Debtors

136,907,898

Unsecured Loan

2,334,189

 

Cash & Bank

9,772,894

Current Liabilities & Provs.

39,777,045

 

Loans & Advances

5,860,749

 

 

 

Miscellaneous Expenses

2,532,193

 

 

 

 

 

Total

242,608,100

 

 

242,608,100

 

 

 

 

 

 

Rs.

 

Sales

195,162,594

 

Profit before Tax

21,037,853

 

Profit after Tax

18,394,869

 

 

 

INFORMATION DENIED

 

Unable to contact (00977-524027, 530472)

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.84

UK Pound

1

INR 88.28

Euro

1

INR 77.88

NPR

1

INR 0.62

 

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

 

 

INFORMATION DETAILS

 

Information Gathered by :

SHW

 

 

Analysis Done by :

NIY

 

 

Report Prepared by :

TRU

 

 

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.