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MIRA INFORM REPORT
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Report No. : |
497793 |
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Report Date : |
14.03.2018 |
IDENTIFICATION DETAILS
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Name : |
PRAN AGRO LIMITED |
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Registered Office : |
Property Heights, 12, R.K. Mission Road,
G.P.O. Box: 83, Dhaka-1203 |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2016 (Financials-Summary) |
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Date of Incorporation : |
30.09.1999 |
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Com. Reg. No.: |
C-38717
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Importer and Distributor of Fruit Juice Noodles and Agricultural Products |
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No. of Employees : |
891 |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 1996 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 $25 billion in 2016.
The sector continues to grow, despite a series of high-profile factory
accidents that have killed more than 1,000 workers and crippling strikes, including
a nationwide transportation blockade orchestrated by the political opposition
during the first several months of 2015. Steady export growth in the garment
sector combined with remittances from overseas Bangladeshis - which totaled
about $15 billion and 8% of GDP in 2015 - are key contributors to Bangladesh's
sustained economic growth and rising foreign exchange reserves.
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Source
: CIA |
IDENTIFICATION DETAILS
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Correct company Name |
: |
PRAN AGRO LIMITED |
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Head Office |
: |
PRAN-RFL Center, 105, Progoti Sarani, Middle Badda, Dhaka-1212,
Bangladesh. |
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Tel No |
: |
88-02-9881792, 9882376 |
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Fax No |
: |
Nil |
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E-mail |
: |
scm51@prangroup.com |
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Website |
: |
www.prangroup.com |
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Date/ Year of Incorporation |
: |
30.09.1999 |
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Incorporation No. |
: |
C-38717
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Legal Form (General) |
: |
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) |
: |
LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms
City Corporation Municipal Administration Union Council Cantonment Board
Chief Controller of Import & Export |
FINANCIALS- SUMMARY
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Year |
Turnover/
Sales |
Assets |
Income |
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30th
June’ 15 |
BDT 821 Million |
BDT 210.59 Million |
BDT 47.61 Million |
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30th
June’ 16 |
BDT 1156 Million |
BDT 381.35 Million |
BDT 76.90 Million |
FULLCHECK
REPORT DETAILs
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Information Parted By |
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Name |
: |
Mr. Nasir Ahmed |
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Designation |
: |
Chief Operating Officer |
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Contract No |
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88-01912257085 |
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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, 9882376 |
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Fax No |
: |
Nil |
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E-mail |
: |
scm51@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 |
3500 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
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Semi-commercial office
Bldg. |
Ö |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
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Factory: |
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Address |
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Eakdalahat, Singradaha, Natore, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
93000 |
Sq. ft. |
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Register Address: |
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Address |
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Property Heights, 12, R.K. Mission Road,
G.P.O. Box: 83, Dhaka-1203, Bangladesh.
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Tel No |
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88-02-9563126 |
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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 |
: |
48 |
In Factory |
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843 |
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In Branch: |
: |
Nil |
Total |
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891 |
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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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Maj. Gan. Amzad Khan Chowdhury |
397380 |
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Mrs. Sabiha Amjad |
89730 |
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Mr. Ahsan Khan Chowdhury |
228690 |
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Property Development Ltd |
200 |
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Pran Foods Ltd. |
150000 |
DIRECTORS
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Name |
Designation |
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Maj. Gan. Amzad Khan Chowdhury |
Managing Director |
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Mr. Ahsan Khan Chowdhury |
Director |
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Mrs. Sabiha Amjad |
Director |
MANAGEMENT
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Name |
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Maj. Gan. Amzad Khan Chowdhury |
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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 |
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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. 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 |
: |
Mr. Nasir Ahmed |
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Job Description |
: |
Chief Operating Officer |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
coo.spice@prangroup.com |
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Other details |
: |
88-01912257085 |
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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. Mostaq Mohammad Sajid |
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Job Description |
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Senior Manager |
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Nationality |
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Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01912257081 |
BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
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Importer |
Ö |
Services |
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Others |
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Range of
Products: |
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Products |
: |
Fruit Juice Noodles and Agricultural Products |
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Production Capacity |
: |
N/A |
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Last Year
Production |
: |
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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N/A |
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Imports(Country) |
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China, India |
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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 |
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BDT 200 Million |
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Paid-up Capital |
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BDT 86600000 |
No. of Shares |
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866000 |
Share
Value |
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BDT100.00Each |
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Main Assets |
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BDT 381.35 Million |
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FINANCIAL
STATEMENT- DETAILED
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Summary information given. |
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ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
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Pran Dairy Ltd. Pran Foods Ltd. Pran-Rfl Centre Pran RFL Group RFL Plastics Ltd. Pran Exports Ltd 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 |
: |
Nil |
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Name of The Group |
: |
Pran-Rfl Group |
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BANKING
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Bank Name
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IFIC Bank Ltd The City Bank Ltd National Bank
Ltd. Mutual Trust Bank
Ltd.
Hong Kong
Shanghai Banking Corporation |
ADVERSE
DATA MONITORING
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Dishonored Checks |
:
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No Record Found |
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Debt |
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No Record Found |
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Litigation |
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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
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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 recommend that credit may proceed in moderate amounts. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 64.96 |
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|
1 |
INR 90.23 |
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Euro |
1 |
INR 80.09 |
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BDT |
1 |
INR 0.79 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRA |
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Report Prepared
by : |
NIT |
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.