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MIRA INFORM REPORT
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Report No. : |
510839 |
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Report Date : |
28.05.2018 |
IDENTIFICATION DETAILS
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Name : |
MAHALAXMI
SOLVENT & REFINERY PVT. LTD. |
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Registered Office : |
Triveni
Complex, Adarshnagar< Birganj |
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Country : |
Nepal |
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Financials (as on) : |
15.07.2017 |
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Date of Incorporation : |
09.02.2009 |
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Com. Reg. No.: |
25739 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in Producer & Supplier of Non GMO Soybean Meal (De Oiled Cake), Mustard DOC & Rice Bran DOC. |
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No. of Employees : |
6 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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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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Nepal |
B1 |
B1 |
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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 |
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.
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Source
: CIA |
Company
name and SUMMERY
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Given
Name |
Mahalaxmi
Solvent & Refinery Pvt. Ltd. |
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Given
Address |
Triveni
Complex, Adarshnagar< Birganj,
Nepal |
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Registered
no. |
25739
of 09.02.2009 |
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Phone
No |
00977-1-2239798 MOBILE PHONE +977-9801156411 |
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Fax
No |
00977-1-4240780 |
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Directors
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Monoj
Selhia Shai
Ludra Rajeev
Das |
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Banker
with Branch |
Nepal
Bank Ltd., Kathmandu, Nepal Nepal
Grindlays Bank Ltd, Kathmandu, Nepal |
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Vat |
VAT REGISTRATION 303769345 |
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Facility
from Bank |
Unlimited |
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Activities
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Producer & Supplier of Non GMO Soybean Meal (De Oiled
Cake), Mustard DOC & Rice Bran DOC. |
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Terms
: Local Purchase |
Cash
Only Cash
or 30 days credit |
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Export
to |
No
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Terms : Local Sales |
NA
Cash
or 30 to 45 days credit (up-to 180 days in Government supply) |
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Main
Suppliers |
Local |
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Main
Customers |
Switzerland,
Japan, Korea, UK |
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Employees
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6
nos. |
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Premises
Owned/ Rented |
Rented |
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Financial
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Enclosed
Balance Sheet as on 15.07.2017 |
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Auditor
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M/s
R B Srestha, New Road, Kathmandu, Nepal |
Financials
Balance
Sheet:
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Authorised Capital :
10,000,000/- (100,000 Equity Shares of Rs.10/- each) |
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Paidup :
10,000,000/- (100,000 Equity Shares of Rs.10/- each) |
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BALANCE SHEET AS AT
15.07.2017 |
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Liabilities |
Amount (Nep Rs.) |
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Assets |
Amount (Nep Rs.) |
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Paid
up Capital |
10,000,000 |
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Fixed
Assets |
11,169,000 |
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Reserve
& Surplus |
987,000 |
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Investments |
1,530,000 |
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Sundry
Creditor |
782,000 |
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Cash
at Bank |
829,000 |
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Other
Liabilities |
2,733,000 |
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Sundry
Debtors |
362,000 |
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Provisions |
257,000 |
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Cash
in hand |
869,000 |
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Total |
14,759,000 |
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14,759,000 |
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Nep Rs. |
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Sales |
89,486,385 |
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Profit
Before Tax |
87,529,000 |
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Profit
After Tax |
59,572,192 |
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Major
Share Holders
Directors
& relatives hold major shares.
Well
established respectable and reputed concern.
Payments are reported to correct.
INFORMATION DECLINED BY
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Name : |
Mr. Binod Prasai |
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Designation : |
Finance Controller |
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Contact No.: |
(00977-1-4248732) |
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Date : |
21.05.2018 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.26 |
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1 |
INR 91.21 |
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Euro |
1 |
INR 79.88 |
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NPR |
1 |
INR 0.63 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Information
Gathered by : |
AKS |
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Analysis Done by
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PRI |
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Report Prepared
by : |
DNS |
RATING EXPLANATIONS
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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
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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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.