3decades

MIRA INFORM REPORT

Report No. :	516970
Report Date :	26.06.2018

IDENTIFICATION DETAILS

Name :	RAHIMAFROOZ ACCUMULATORS LTD.

Registered Office :	705, Nakhalpara, Tejgaon, Dhaka-1208

Country :	Bangladesh

Financials (as on) :	30.06.2017 [Summarized]

Date of Incorporation :	26.11.2007

Com. Reg. No.:	C-69115

Legal Form :	Private Company

Line of Business :	Manufacturer, Distributor and Importer of Industrial Batteries.

No. of Employees :	350

RATING & COMMENTS

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

MIRA’s Rating :

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.

ECGC Country Risk Classification List

Country Name

Previous Rating

(31.12.2017)

Current Rating

(01.04.2018)

Bangladesh

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

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.

Source : CIA

Company name

RAHIMAFROOZ ACCUMULATORS LTD.

EXECUTIVE SUMMARY

IDENTIFICATION DETAILS
Correct company Name	:	Rahimafrooz Accumulators Ltd.
Head Office	:	705, Nakhalpara, Tejgaon, Dhaka-1208, Bangladesh.
Tel No	:	88-02-9113696, 9113522, 9893442, 9565221, 9562260
Fax No	:	88-02-8115305, 9126968
E-mail	:	info@rahimafrooz.com,
Website	:	www.rahimafrooz.com
Date/ Year of Incorporation	:	26.11.2007
Incorporation No.	:	C-69115
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
30^th June’2016	BDT 1197 Million	BDT 1912.28 Million	BDT 56.80 Million
30^th June’2017	BDT 1749 Million	BDT 2138.97 Million	BDT 67.25 Million

FULLCHECK REPORT DETAILS

Information Parted By
Name	:	Mr. Towfique Haque
Designation	:	Executive Director (Finance)
Contract No	:	Nil

Locations Details
Operating Address	:	705, Nakhalpara, Tejgaon, Dhaka-1208, Bangladesh.
Tel No	:	88-02-9113696, 9113522, 9893442, 9565221, 9562260
Fax No	:	88-02-8115305, 9126968
E-mail	:	info@rahimafrooz.com,
Website	:	www.rahimafrooz.com

Location :

: Owned

Rented

Leased

Area

3400

Sq. ft.

Type of Office :	: Commercial Office Bldg.		Semi-commercial office Bldg.
	Retail shop	Industrial Park		Ö
	Business Center	Home Office
	Residential Bldg.

Factory Address:

Address	:	RS. Dag# 1, 4 & 48/4, West Panishail, Zirani Bazar, Gazipur, Bangladesh.
Tel No	:	N/A
Fax No	:	N/A

Branch Address-1:

Address	:	ABC Heritage (4^th Floor), Plot# 2 & 4, Jashimuddin Avenue, Sector# 3, Uttara C/A, Dhaka-1230, Bangladesh.
Tel No	:	88-02-9113696
Fax No	:	Nil

Branch Address-2:

Address	:	242, Tejgaon I/A, Dhaka-1208, Bangladesh.
Tel No	:	88-02-8858022
Fax No	:	88-02-8858023
Distribution Office Address:
Address	:	Globe Chamber (1^st Floor), 104 Motijheel C/A, Dhaka-1000, Bangladesh.
Tel No	:	88-02-9565238
Fax No	:	88-02-9554160

Employee:

No. of Employees	In Office	:	38	In Factory	:	312
	In Branch:	:	Nil	Total	:	350
Details:

OWNERSHIP/SHAREHOLDERS

Names of Shareholders	No. of Share
Rahimafrooz (Bangladesh) Ltd.	998280
Mr. Feroz Rahim	1

DIRECTORS

Name	:	Mr. Feroz Rahim
Designation	:	Chairman
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A



Name	:	Mr. Munawer M. Moni
Designation	:	Managing Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A



Name	:	Mr. Mohammad Ismail
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A



Name	:	Mr. Niaz Rahim
Designation	:	Director
Nationality	:	Bangladeshi.
Email address	:	N/A
Other details	:	N/A

MANAGEMENT

Name	:	Mr. Munawer M. Moni
Job Description	:	Managing Director
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

Name	:	Mr. Towfique Haque
Job Description	:	Executive Director (Finance)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	Nil

Name	:	Mr. Shamimul Khadar
Job Description	:	Manager (Procurement)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	88-01716284696

Name	:	Mr. Kamrul Islam
Job Description	:	Chief Executive Officer (Accounts)
Nationality	:	Bangladeshi
Email address	:	N/A
Other details	:	N/A

BUSINESS OPERATIONS

Nature of Activity :	Manufacturer	Ö	Trader		Dealer	Distributor	Ö

	Exporter		Importer	Ö	Services	Others

Range of Products

Products	:	Industrial Batteries.
Production Capacity	:	N/A
Last Year Production	:	N/A

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)	:	N/A
Trade Markets	:	Imports(Country)	:	India, China, Japan

Brand Name	:	N/A
Certified	:	ISO 14001:2004 and OHSAS 18001:2007
Name of Auditors	:	N/A
Operation Status	:	Active

CAPITAL STRUCTURE

Authorized Capital	:	BDT 200 Million

Paid-up Capital	:	BDT 99828100

No. of Shares	:	998281

Share Value	:	BDT 100.00 Each

Main Assets	:	BDT 2138.97 Million

FINANCIAL STATEMENT- DETAILED

Summary Information Given

ASSOCIARES/SUBSIDIARIES/ RELATED PARTIES

Name of The Group	:	Rahimafrooz Group.
Name of Mother Company	:	Rahimafrooz (Bangladesh) Limited
Subsidiary	:	Nil
Sister Concerns	:	Core Knowledge Ltd Excel Resources Ltd. Rahimafrooz CNG Ltd. Metronet Bangladesh Ltd Rural Services Foundation RZ Power Systems Limited Rahimafrooz (Batteries) Ltd. Rahimafrooz Superstores Ltd. Rahimafrooz Globatt Limited Rahimafrooz Gastech Limited. Rahimafroa Distribution Limited Rahimafroz Super Stores Limited Rahimafrooz Renewable Energy Ltd Rahimafrooz Energy Services Limited

BANKING

Bank Name	:	Eastern Bank Ltd
Bank Address	:	Principal Branch 10, Dilkusha C/A, Jiban Bima Bahaban, Dhaka-1000, Bangladesh. Tel: 88-02-9565696, 9558392, 9571262 Fax: 88-02-7160747

Bank Name	:	Habib Bank Ltd.
Bank Address	:	Motijheel Branch Motijheel C/A, Dhaka-1000, Bangladesh.

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 705, Nakhalpara, Tejgaon, Dhaka-1208, Bangladesh. It is Situated at Industrial Area.

GENERAL COMMENTS

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.15
UK Pound	1	INR 90.27
Euro	1	INR 79.35
BDT	1	INR 0.81

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

INFORMATION DETAILS

Analysis Done by :	PRA

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.