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MIRA INFORM REPORT
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Report No. : |
516439 |
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Report Date : |
26.06.2018 |
IDENTIFICATION DETAILS
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Name : |
PRAN FOODS LTD |
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Registered Office : |
PRAN-RFL Center, 105, Progoti Sarani, Middle Badda, Dhaka-1212 |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2017 (Summarised) |
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Date of Incorporation : |
23.01.1986 |
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Com. Reg. No.: |
C-30169 |
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Legal Form : |
Public (but not listed) |
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Line of Business : |
Processing, Distributor, Exporter and Importer of Juice, Beverage, Drink, Confectionery, Culinary, Snacks, Biscuits & Bakery, Dairy |
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No. of Employees : |
2450 |
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 |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
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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 2005 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 $28 billion in FY 2016-17. The sector continues to grow despite the need for improvements in factory safety conditions and workers’ rights to avert further high-profile accidents that killed more than 1,000 workers in 2012 and 2013. In FY 2016-17, steady export growth in the garment sector, combined with $13 billion in remittances from overseas Bangladeshis, contributed to Bangladesh's rising foreign exchange reserves.
The recent influx of over 700,000 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 record flooding. Recent improvements to energy infrastructure, including the start of liquefied natural gas imports in 2018, represent a major step forward in resolving a key growth bottleneck.
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Source
: CIA |
EXECUTIVE
SUMMARY
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IDENTIFICATION DETAILS |
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Correct company Name |
: |
Pran Foods Ltd. |
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Head Office |
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PRAN-RFL Center, 105, Progoti Sarani, Middle Badda, Dhaka-1212, Bangladesh. |
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Tel No |
: |
88-02-9881792,
8835546-50, 8819693 |
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Fax No |
: |
88-02-8837464 |
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E-mail |
: |
scm51@prangroup.com, amcl@prangroup.com, imports3@ prangroup.com |
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Website |
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www.prangroup.com |
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Date/ Year of Incorporation |
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23.01.1986 |
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Incorporation No. |
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C-30169 |
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Legal Form (General) |
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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) |
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LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
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Registrar of Join Stock of Companies City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
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Other
Registry & Certification Details
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Value Added Tax(VAT) No |
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9285000017 |
Date of Registration |
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N/A |
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Issuing Authority |
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National Board of Revenue |
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FINANCIALS- SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income |
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30th June’2016 |
BDT 1181 Million |
BDT 2793.25 Million |
BDT 67.10 Million |
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30th June’2017 |
BDT 1609 Million |
BDT 1904.96 Million |
BDT 69.09 Million |
FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Muhammad Aminur
Rahman |
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Designation |
: |
Company Secretary |
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Contract No |
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N/A |
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Locations Details |
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Operating Address |
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PRAN-RFL Center, 105, Progoti Sarani, Middle Badda, Dhaka-1212, Bangladesh. |
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Tel No |
: |
88-02-9881792,
8835546-50, 8819693 |
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Fax No |
: |
88-02-8837464 |
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E-mail |
: |
scm51@prangroup.com, amcl@prangroup.com, imports3@ prangroup.com |
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Website |
: |
www.prangroup.com |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
3600 |
Sq. ft. |
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Type of
Office : |
:
Commercial
Office Bldg. |
Semi-commercial office Bldg. |
Ö |
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Retail shop |
Industrial Park |
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Business Center |
Home Office |
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Residential Bldg. |
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Factory Address: |
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Address |
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Ghagra, Palash,
Narsingdi, Bangladesh. |
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Tel No |
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88-02-9466373 |
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Fax No |
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Nil |
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Registered Address: |
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Address |
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Property Heights, 12,
R.K. Mission Road, Dhaka-1203, Bangladesh.
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Tel No |
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88-02-9563126, 9667482-83 |
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Fax No |
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88-02-9559415 |
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Branch Address: |
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Address |
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51/53, Narinda,
Dhaka-1100, Bangladesh. |
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Tel No |
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88-02-9881792 |
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Fax No |
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88-02-9559415 |
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Employee: |
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No. of
Employees |
In Office |
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85 |
In Factory |
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2360 |
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In Branch: |
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5 |
Total |
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2450 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
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Mrs. Uzma Chowdhury |
14010 |
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Property Development Ltd |
7010 |
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Lt Col Mahtabuddin Ahmed |
175 |
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Mr. Ahsan Khan Chowdhury |
679805 |
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Mr. Md. Saiful Islam Sikder |
50 |
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Mr. Md. Eleash Mridha |
50 |
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Mr. Choudhury Atiur Rasul |
50 |
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Mr. Chowdhury Kamruzzaman |
50 |
DIRECTORS
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Name |
Designation |
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Mr. Md. Saiful Islam Sikder |
Chairman |
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Mr.Ahsan Khan Chowdhury |
Managing Director |
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Mr. Md. Eleash Mridha |
Director |
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Mr. Choudhury Atiur Rasul |
Director |
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Mr. Chowdhury Kamruzzaman |
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MANAGEMENT
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Name |
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Mr. Md. Saiful Islam
Sikder |
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Job Description |
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Managing Director |
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Nationality |
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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 |
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Mr. Shaik Sajjad Hossain |
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Job Description |
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General Manager (Operation) |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
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Mr. Indrojit |
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Job Description |
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Manager (Sales) |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
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Mr. SM Sarowar Hossen |
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Job Description |
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Deputy General Manager |
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Nationality |
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Bangladeshi |
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Email address |
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N/A |
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Other details |
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N/A |
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Name |
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Mr. Nasir Ahmed |
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Job Description |
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Chief Operating Officer |
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Nationality |
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Bangladeshi |
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Email address |
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coo.spice@prangroup.com |
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Other details |
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88-01912257085 |
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Name |
: |
Mr. Muhammad Aminur
Rahman |
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Job Description |
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Company Secretary |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS
OPERATIONS
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Nature of Activity : |
Processing |
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 |
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Juice, Beverage, Drink, Confectionery,
Culinary, Snacks, Biscuits & Bakery, Dairy |
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Production
Capacity |
: |
N/A |
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Last Year
Production |
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N/A |
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 |
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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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France |
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Imports(Country) |
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India, China, Thailand. |
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Brand Name |
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N/A |
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Certified |
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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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Authorized
Capital |
: |
BDT 100 Million |
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Paid-up
Capital |
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BDT 70120000 |
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No. of
Shares |
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701200 |
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Share
Value |
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BDT100.00Each |
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Main
Assets |
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BDT 19.04.96 Million |
FINANCIAL
STATEMENT- DETAILED
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Summary information given |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
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Pran Dairy Ltd. RFL Plastics Ltd. Pran Exports Ltd
Pran Agro Limited Chorka Textile Ltd Duradle Plastic Ltd Rangpur Foundry Ltd. Sylval Agriculture Ltd Pran Beverage Limited Allplast Bangladesh Ltd. Erum Bangladesh Limited Mymensingh Agro Limited Packmat Industries Limited Banga Building Materials Ltd. Bangladesh Lift Industries Ltd. Agricultural Marketing Co. Ltd. Bangla Plastic International Ltd Rangpur Metal Industries Limited |
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Subsidiary |
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Nil |
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Name of The Group |
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Pran-Rfl Group |
BANKING
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Bank Name |
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City Bank Ltd. Bank Asia Ltd. BRAC Bank Ltd. United Bank Ltd. Eastern Bank Ltd. Standard Chartered Bank Hong Kong Shanghai
Banking Corporation |
ADVERSE
DATA MONITORING
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Dishonored
Checks |
: |
No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance
Defaults |
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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 PRAN-RFL Center, 105, Progoti Sarani, Middle
Badda, Dhaka-1212, Bangladesh. It is situated at Residential Area. |
GENERAL
COMMENTS
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The subject company is a well-known reputed company in
Bangladesh. Their products popular to
the local customers. So day by day the subject companies increase their
goodwill. As well as its financial condition, We recommended that Credit can
proceed promptly in Fairly large amount. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.14 |
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|
1 |
INR 90.27 |
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Euro |
1 |
INR 79.34 |
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BDT |
1 |
INR 0.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
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Report Prepared
by : |
SUJ |
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.