MIRA INFORM REPORT

Report No. :	497125
Report Date :	14.03.2018

IDENTIFICATION DETAILS

Name :	BOOTH EXTRUSION LIMITED
Registered Office :	Kenyatta Highway, P. O. Box 1574 01000 Thika,
Country :	Kenya
Financials (as on) :	2017 [Summarized]
Date of Incorporation :	14.01.1964
Com. Reg. No.:	5754
Legal Form :	Limited Corporation
Line of Business :	Registered to operate import and distribution of steel and aluminium architectural products
No. of Employees :	80

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 :	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 (30.09.2017)	Current Rating (31.12.2017)
Kenya	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

KENYA - ECONOMIC OVERVIEW

Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 102 billion barrels - more than 6% of world reserves. Kuwaiti officials plan to increase production to 4 million barrels of oil equivalent per day by 2020. Petroleum accounts for over half of GDP, 92% of export revenues, and 90% of government income.

In 2015, Kuwait, for the first time in 15 years, realized a budget deficit after decades of high oil prices; in 2016, the deficit grew to 16.5% of GDP. Kuwaiti authorities announced cuts to fuel subsidies in August 2016, provoking outrage among the public and National Assembly, and the Amir dissolved the government for the seventh time in ten years. In 2017 the deficit was reduced to 7.2% of GDP, and the government raised $8 billion by issuing international bonds. Despite Kuwait’s dependence on oil, the government has cushioned itself against the impact of lower oil prices, by saving annually at least 10% of government revenue in the Fund for Future Generations.

Kuwait has failed to diversify its economy or bolster the private sector, because of a poor business climate, a large public sector that employs about 74% of citizens, and an acrimonious relationship between the National Assembly and the executive branch that has stymied most economic reforms. The Kuwaiti Government has made little progress on its long-term economic development plan first passed in 2010. While the government planned to spend up to $104 billion over four years to diversify the economy, attract more investment, and boost private sector participation in the economy, many of the projects did not materialize because of an uncertain political situation or delays in awarding contracts. To increase non-oil revenues, the Kuwaiti Government in August 2017 approved draft bills supporting a Gulf Cooperation Council-wide value added tax scheduled to take effect in 2018.

Source : CIA

Company name
Registered Name:	BOOTH EXTRUSION LIMITED
Requested Name:	BOOTH EXTRUSION LIMITED
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	Kenyatta Highway
Postal Address:	P. O. Box 1574 01000
	Thika,
Country:	Kenya
Phone:	254-67-22936/7
Fax:	254-6721130
Email:	kiran@booth.co.in/export@booth.co.in
Website:	www.boothextrusions.com
CREDIT OPINION
Financial Index as of December 2017 shows subject firm with a medium risk of credit. However, bank and credit information obtained reveal a history of prompt payments.
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		14-Jan-1964
Reg. Number:		5754
Pin Number:		P000607951D
Nominal Capital		KES. 53,100,000
Subscribed Capital		KES. 53,100,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Mr. Rajendra Tewary		CEO
Mr. Sunil Kumar Maganlal Chandaria		Director
Mr. Sanjeev Kumar		Director
Mr. Vimal R.Chandaria		Director
Mr. Sushil Chandra		Director
Mr. D.J. Bhatia		Director
Kenya Aluminium and industrial works ltd		Shareholder		68.90%
M/s Juhudi distributors ltd		Shareholder		28.69%
Chandaria Foundation		Shareholder		2.41%
RELATED COMPANIES
None		Parent company.
None		Subsidiary company.
EAST AFRICAN MATCH COMPANY (K) LTD ESLON PLASTICS OF KENYA LTD GALAXY PAINTS COMPANY GALSHEET KENYA LTD INSTEEL LIMITED KALU WORKS LTD BOOTH MANUFACTURING (AFRICA) LTD		Affiliated companies.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Registered to operate import and distribution of steel and aluminium architectural products
Imports:		Asia
Exports:		Neighboring countries
Trademarks:		None
Terms of sale:		Cash (40%) and 25-90 days (60%), invoices.
Main Customers:		firms and organizations
Employees:		80 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Kenya
Location:		Owned premises, 10,000 square feet,
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Kenyan Shillings (KES.)
Fiscal Year End:		December 31, 2017
Inflation:		According to information given by independent sources, the inflation at December 31st, 2017 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in KES.)
			2017
Sales			1,450,000,000
BANK
Bank Name:		BARCLAYS BANK PLC
Branch:		Kenya
Comments:		Other banks
		KENYA COMMERCIAL BANK
TRADE REFERENCES
Experiences:		Good
NOTARIAL BONDS None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources other than the subject company itself and confirmed the above subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.95
UK Pound	1	INR 90.23
Euro	1	INR 80.09
KES	1	INR 0.64

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

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

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.