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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

487063

Report Date :

22.01.2018

 

IDENTIFICATION DETAILS

 

Name :

RANKA SHOEL COMPOSITE TEXTILE MILLS LTD.

 

 

Registered Office :

House# 428 (1st Floor), Road# 30, New DOHS Mohakhali, Dhaka-1206

 

 

Country :

Bangladesh

 

 

Date of Incorporation :

17.04.2004

 

 

Com. Reg. No.:

C-52484

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer, Distributor, Exporter and Importer of Yarn, Denim Fabric, Dying   

 

 

No. of Employees :

700

 

 

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.

 

 

 

 

 

 

 

EXECUTIVE SUMMARY

 

                                                IDENTIFICATION DETAILS

 

Correct company Name

:

Ranka Shoel Composite Textile Mills Ltd.

Head Office

:

House# 428 (1st Floor), Road# 30, New DOHS Mohakhali,

Dhaka-1206, Bangladesh.

Tel No

:

88-02-8819199, 8819198

Fax No

:

Nil

E-mail

:

rankamizan@gmail.com, tarunstml@yahoo.com

Website

:

Nil

Date/ Year of Incorporation

:

17.04.2004

Incorporation No.

:

C-52484

Legal Form (General)

:

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

 Sole Proprietorships  Partnership                     Not Registered

 others (please specify) ________________

Legal form (Specific)

:

LTD   CORP    INC  CO    

 others (please specify) ________________

Issuing Authority

:

Registrar of Joint Stock Companies & Firms      City Corporation

 Municipal Administration                                   Union Council

 Cantonment Board                                              Chief Controller of  Import & Export (CCIE)

 

 

FINANCIALS- SUMMARY

      Year

Turnover/ Sales

 Assets

     Income

30th June’2016

BDT 7318 Million

BDT 480.35 Million

BDT  39.70 Million

30th June’2017

BDT 856 Million

BDT 510.80 Million

BDT 47.35 Million

 

 

FULLCHECK REPORT DETAILS

 

                                                             Information Parted By

Name

:

Mr. Md. Razzakul Hossain         

Designation

:

Managing Director

Contract No

:

N/A

 

                                                               Locations Details

Operating Address

:

House# 428 (1st Floor), Road# 30, New DOHS, Mohakhali,

Dhaka-1206, Bangladesh.

Tel No

:

88-02-8819199, 8819198

Fax No

:

Nil

E-mail

:

rankamizan@gmail.com, tarunstml@yahoo.com

Website

:

Nil

 

Location :

: Owned

 

Rented

Ö

 

Leased

 

Area

3400

Sq. ft.

 

Type of Office :

  :       Commercial Office Bldg.

 

 

Semi-commercial office Bldg.

 

     

 

Retail shop

 

 

Industrial Park

 

     

 

Business Center

 

 

Home Office

 

     

 

Residential Bldg.

Ö

 

 

 

 

 

Factory:

 

 

 

 

 

Address

:

Mollahar Char, Ariahazar, Narayangonj, Bangladesh.

Tel No

:

88-01720939831

Fax No

:

Nil

 

Location :

   Owned

Ö

 

Rented

 

 

Leased

 

Area

2.75

Acores.

 

Branch:

 

 

 

 

 

Address

:

Nil

Tel No

:

Nil

Fax No

:

Nil

 

Employee:

 

 

 

No. of Employees 

 

In Office

:

20

In Factory

:

680

In Branch:

:

N/A

Total

:

700

Details:

 

                    

 

 

 

OWNERSHIP/SHAREHOLDERS

 

         Names of Shareholders

                      No. of Share     

Mr. Mizanur Rahman

24500

Mr. Md. Razzakul Hossain

25500

 

 

DIRECTORS

 

Name

Designation

Mr. Md. Razzakul Hossain

Managing Director

Mr. Mizanur Rahman

Director

 

 

MANAGEMENT

 

Name

:

Mr. Md. Razzakul Hossain         

Job Description

:

Managing Director

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

N/A

 

 

 

 

Name

:

Mr. Tarun Proshad Barua

Job Description

:

Manager (Commercial)

Nationality

:

Bangladeshi

Email address

:

N/A

Other details

:

88-01712622607

 

Name

:

Md. Mehedi Hasan

Job Description

:

Sr. Executive & HR

Nationality

:

Bangladeshi.

Email address

:

N/A

Other details

:

N/A

 

 

BUSINESS OPERATIONS

 

Nature of Activity       :

Manufacturer

Ö

Trader

 

Dealer

 

Distributor

Ö

 

 

 

Exporter

Ö

Importer

Ö

Services

 

Others

 

 

Range of Products:

 

Products

:

Yarn, Denim Fabric, Dying   

Production Capacity

:

Fabric: 150 M. Meters per year

Dying: 20 Ton per day

Last Year Production

:

Do

 

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)

:

Europe

 

Imports(Country)

:

China, India

 

Brand Name

:

N/A

Certified

:

N/A

Name of Auditors

:

N/A

Operation Status

:

Active

Member

:

Bangladesh Textile Mills Association

 

 

CAPITAL STRUCTURE

 

Authorized Capital

:

BDT 200 Million

 

Paid-up Capital

:

BDT 5000000

 

No. of Shares

:

50000

 

Share Value

:

BDT 100.00 Each

 

Main Assets

:

BDT 510.80 Million

 

 

FINANCIAL STATEMENT- DETAILED

 

Financial summary information has been given.

 

 

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

 

Sister Concerns

:

Root Apparels Limited

Harp Fashion Wears Ltd.

Shoel Textile Mills Limited

Rahnuma Fashion Wear Ltd

Ranka Denim Textile Mills Limited.

Subsidiary

:

N/A

Name of  The Group

:

Root Group of Companies

 

 

BANKING

 

Bank Name  

:

Prime Bank Ltd.

Bank Address

:

Motijheel Branch

Adamjee Court Annexe Building -2, 119-120, Motijheel C/A,

Dhaka-1000, Bangladesh

Tel: 88-02-7175491-2, 9567225, 9562982

Fax: 88-02-9567223

 

Bank Name  

:

NCC Bank Ltd.

Bank Address

:

Motijheel Branch

6. Motijheel C/A, Dhaka-1000, Bangladesh         

Tel:88-02- 9561902-4, 9567000,9566281  

Fax: 88-02-7167288

 

 

Bank Name  

:

Eastern Bank Ltd.

Bank Address

:

Motijheel Branch

88 Motijheel C/A, Dhaka-1000, Bangladesh

Tel: 88-02-9559655, 9565073-4  

 

 

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 House# 428 (1st Floor), Road# 30, New DOHS, Mohakhali, Dhaka-1206, Bangladesh. It is situated at commercial area.

 

 

GENERAL COMMENTS

 

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

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.72

UK Pound

1

INR 88.64

Euro

1

INR 78.14

BDT

1

INR 0.77

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

SYL

                                                


 

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.