MIRA INFORM REPORT

Report No. :	496502
Report Date :	09.03.2018

IDENTIFICATION DETAILS

Name :	INTERNATIONAL DEVELOPMENT AND MARKETING COMPANY (IDMC) PVT LTD
Registered Office :	Bhanimandal, Jawalakhel, Lalitpur, Kathmandu
Country :	Nepal
Financials (as on) :	31.03.2016
Date of Incorporation :	2001
Legal Form :	Private Limited Company
Line of Business :	Subject manufactures’ representatives, marketing agents, commission agent, leasion representative of large scale projects, national, international and multilateral.
No. of Employees :	Not available

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd 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 :	Slow but Correct
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 (30.09.2017)	Current Rating (31.12.2017)
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 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 name and address

International Development and Marketing Company (IDMC) Pvt Ltd 

Bhanimandal, Jawalakhel, Lalitpur, Kathmandu-Nepal 
Phone :  00977-9851023873 

+977-1-6207017, 5000204/205
+977-9851023873

Company summary

History : It is a private limited company incorporated at Kathmandu under His Majesty Govt.

Act No.8237 of 07.06.2007.

Directors : 1. Pravin Dhungana (Chairman )

2. Mr. Prakash Sharma  (Managing Director)

3. Mr. Ravi Timilsina 

4. Trilocran Ranjitnar 

Bankers : Nepal Bank Ltd., Kathmandu (Nepal)

Nepal Grindlays Bank, Kathmandu (Nepal)

Bank of Kathmandu, Kathmandu (Nepal)

Auditors: S. K. Shrestha & Co., New Road., Kathmandu (Nepal)

Business

International Development and Marketing Company (IDMC) Pvt. Ltd. was established in 2001, and an agency house, to represent different products and process from all over the world and market in Nepal. We at IDMC are manufactures’ representatives, marketing agents, commission agent, leasion representative of large scale projects, national, international and multilateral. IDMC is promoted by ANK Construction Co. (P) Ltd, one of the leading civil construction company in Nepal and this is promoted by its current chairman Pravin Dhungana.He has an experience of more then 30 yrs in construction. In 2009 this team was joined by Mr. Prakash Sharma as Director of IDMC. Mr. Sharma has extensive experience of last 40 yrs in different business organizations including a government Bank of Nepal. He has served about 25 yrs in the Agriculture Development Bank of Nepal in a very high post.

Product :

XCMG Products

XCMG Motor Grader

XCMG Wheel Loader

XCMG Tunnel Mining

XCMG Excavator

Authorised Capital : 5,000,000/- (50,000 Equity Shares of NP.Rs.100/- each)
Paidup : 4,670,400/- (46,704 of NP.Rs.100/- each)
BALANCE SHEET AS AT 31.03.2016
Liabilities	Amount (Nep Rs.)	Assets	Amount (Nep Rs.)
Paid up Capital	4,670,400	Fixed Assets	17,314,434
Reserve & Surplus	52,583,115	Sundry Debtors	70,251,051
Secured Loan	83,115,017	Investments	32,204,897
Unsecured Loan	1,723,764	Inventories	18,508,982
Current Liabilities & Prov.	74,507,752	Cash & Bank	17,425,524
		Loans & Advances	29,325,037
		Miscellaneous	570,123
		Other Current Assets	31,000,000
Total	216,600,048		216,600,048
	Rs.
Sales	137,970,893
Profit Before Tax	7,446,400
Profit After Tax	4,721,400

INFORMATION DENIED BY

Name :	Mr. Parkash
Designation :	Accountant
Contact No.:	+000977-5000204/205
Date :	08.03.2018

Management non co-operative

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.92
UK Pound	1	INR 90.23
Euro	1	INR 80.54
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 :	VAR
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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.