MIRA
INFORM REPORT
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Report Date : |
11.07.2007 |
IDENTIFICATION DETAILS
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Name : |
THE COCA-COLA EXPORT CORPORATION |
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Registered Office : |
5-E-2, Gulberg III, |
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Country : |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
1961 |
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Com. Reg. No.: |
00000011098 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture & Sale of
Concentrate for Beverages |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Business Name
THE COCA-COLA EXPORT CORPORATION
Full Address
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Branch Office |
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5-E-2, Gulberg III, |
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Tel |
92 (42) 5756845
- 49 (5 Lines) |
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Fax |
92 (42) 5711968 |
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Website |
Short Description Of
Business
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Nature of Business |
Manufacture
& Sale of Concentrate for Beverages |
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Year Established |
1961 |
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Registration # |
00000011098 |
Registered Office
The Coca-Cola
Company
Auditors
A.F. Ferguson & Co.
(Chartered Accountants)
Legal Status
The Coca-Cola Export
Corporation was incorporated with limited liability in
Details of Management
in
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Names |
Designation |
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Mr. Rizwan Khan Mr. Shahab Malik |
Country Manager Principal Officer |
Holding Company
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Names |
Percentage of Shareholding (%) |
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The Coca-Cola Company, |
100 |
Associated Companies
(1)
(2)
(3)
(4)
(5)
(6)
(7) Coca-Cola Beverages Pakistan Limited
Number of Employees
17
Annual Sales Volume
(For Two Years)
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Years |
In Pak Rupees |
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2003 2004 |
964,166,455/- 1,094,485,136/- |
Trade Suppliers (Foreign)
Various International
Capacity
& Production
Considering the nature of the Company’s business, it is impracticable to provide the information regarding capacity.
Distributors
Mainly in all cities of
Bankers
(1) Union Bank Limited,
(2) Faysal Bank Limited,
(3) Standard Chartered
(4) Habib Metropolitan
Bank Limited,
(5) Hong Kong Shanghai
Banking Corporation,
(6) Citibank N.A.,
(7) ABN AMRO Bank,
Memberships
Company’s Information
The Coca-Cola Export
Corporation, Pakistan is a branch of the The Coca Cola Company incorporated
in
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 60.98 |
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1 |
Rs. 122.90 |
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Euro |
1 |
Rs. 83.25 |
Comments
Subject Company enjoys good reputation internationally as well
as in
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THE COCA-COLA EXPORT
CORPORATION - |
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BALANCE SHEET AS AT
DECEMBER 31, 2004 |
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2004 |
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2003 |
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2004 |
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2003 |
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Rupees |
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Rupees |
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CAPITAL |
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TANGIBLE FIXED ASSETS |
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Home office assigned capital account |
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696,697 |
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696,697 |
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Operating fixed assets |
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15,513,682 |
16,225,221 |
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Accumulated profit |
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561,987,171 |
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411,626,485 |
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562,683,868 |
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412,323,182 |
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DEFERRED TAXATION |
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737,327 |
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755,496 |
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LONG TERM DEPOSITS |
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1,072,800 |
844,700 |
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LONG TERM AND DEFERRED
LIABILITIES |
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Employees benefits |
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- |
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515,000 |
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EMPLOYEE BENEFITS |
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54,000 |
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Long term security deposits |
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133,500 |
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133,500 |
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563,554,695 |
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413,727,178 |
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CURRENT ASSETS |
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Stock in trade |
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107,996,480 |
84,804,670 |
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CURRENT LIABILITIES |
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Trade debts |
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28,223,557 |
39,717,272 |
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Advances, deposits, prepayments and |
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Due to home office |
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101,339,497 |
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59,868,962 |
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other receivables |
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69,299,212 |
76,676,222 |
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Income tax recoverable |
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45,570,639 |
34,196,100 |
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Accrued and other liabilities |
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152,975,822 |
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139,173,187 |
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Cash and bank balances |
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550,139,644 |
360,305,142 |
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254,315,319 |
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199,042,149 |
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801,229,532 |
595,699,406 |
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CONTINGENCIES AND
COMMITMENTS |
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817,870,014 |
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612,769,327 |
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817,870,014 |
612,769,327 |
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THE COCA-COLA EXPORT CORPORATION - |
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PROFIT AND LOSS ACCOUNT |
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FOR THE YEAR ENDED DECEMBER 31, 2004 |
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2004 |
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2003 |
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Rupees |
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Revenues |
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1,094,485,136 |
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964,166,455 |
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Cost of sales |
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489,615,414 |
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432,186,117 |
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604,869,722 |
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531,980,338 |
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Administrative and marketing expenses |
298,170,893 |
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274,582,627 |
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Operating profit |
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306,698,829 |
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257,397,711 |
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Prorata expenses |
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37,448,316 |
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28,473,088 |
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Profit after prorata expenses |
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269,250,513 |
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228,924,623 |
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Other income |
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7,379,769 |
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12,882,708 |
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276,630,282 |
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241,807,331 |
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Financial charges |
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439,782 |
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75,131 |
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Other charges |
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23,361,891 |
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16,786,610 |
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23,801,673 |
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16,861,741 |
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Profit before taxation |
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252,828,609 |
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224,945,590 |
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Taxation |
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102,467,923 |
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96,696,350 |
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Net profit for the year |
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150,360,686 |
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128,249,240 |
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)