MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
IRFAN TEXTILE (PRIVATE) LIMITED |
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Registered Office : |
31-KM, Ferozepur
Road, Lahore |
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Country : |
Pakistan |
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Date of Incorporation : |
1990 |
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Com. Reg. No.: |
L-02873/19901202 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture &
Export of Garments Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
Business Name
IRFAN TEXTILE (PRIVATE) LIMITED
Full Address
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Registered Address
& Factory |
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31-KM, Ferozepur
Road, Lahore, Pakistan |
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Tel |
92 (42) 5270734, 5270731 |
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Fax |
92 (42) 5270730, 5270740 |
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Short Description Of
Business
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Nature of Business |
Manufacture & Export of Garments Products |
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Year Established |
1990 |
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Registration # |
L-02873/19901202 |
Branches
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Address |
S-14,Gulberg
Centre, Main Boulevard, Gulberg-II, Lahore, Pakistan |
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Tel # |
92 (42) 5711354, 5711355 |
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Fax # |
92 (42) 5711674 |
Auditors
S.M. Masood & Co.
(Chartered
Accountants)
Empire Centre, Main Boulevard, Gulberg-II, Lahore, Pakistan
Legal Status
Subject Company was established as a Private Limited Company in 1990
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Authorised Capital |
Rs. 100,000,000/-
divided into 10,000,000 shares of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 94,412,000/-
divided into 9,441,200 shares
of Rs. 10/- each |
Details of Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Syed Muhammad Jawad Ahsan Mr. Muhammad Farrukh Irfan Khan Mr. Muhammad Yawar Irfan Khan Mr. Hasan Irfan Khan |
Pakistani Pakistani Pakistani Pakistani |
60-N, L.C.C.H.S, Lahore S-14,Gulberg Centre, Main Boulevard, Gulberg-II,
Lahore S-14,Gulberg Centre, Main Boulevard, Gulberg-II,
Lahore S-14,Gulberg Centre, Main Boulevard, Gulberg-II,
Lahore |
Business Business Business Business |
Chief Executive Director Director Director |
Shareholders
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Names |
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Mr. Syed Muhammad Jawad Ahsan Mr. Muhammad Farrukh Irfan Khan Mr. Muhammad Yawar Irfan Khan Mr. Hasan Irfan Khan |
Associates
Subsidiary
None
Associated Companies
(1) Irfan & Co., Pakistan.
Business Activities
Subject Company is engaged in the business as manufacture & Export of Garments Products.
Its mainly import Textile Raw Materials, Textile Machineries through L/C, T.T. basis.
It’s main products are Casual Wear, Fashion Wear, Sports Wear.
It sells its product through L/C, T.T. basis.
Its main customers are reputable companies, worldwide.
Subject operates from caption leased office premises measuring 1,650 Sq.ft. which is situated in commercial area.
Subject employs more than 500 persons in its set up.
Annual Sales Volume
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Year |
In Pak Rupees |
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2005 |
400,000,000/- (Estimated) |
Production Capactiy
500,000 Garments per month
Customers (Foreign)
(1) GAP.
(2) TOMMY HILFIGER.
(3) VF CORPORATION.
(4) SEARS.
(5) RUSSELL ATHLETICS.
(6) AMERICAN EAGLE OUTFITTERS.
(7) JCPENNEY.
(8) LEE SPORTSWEAR.
(9) PHILLIPS VAN HEUSEN.
Bankers
(1) Prime Commercial Bank
Limited, 61 - Main Boulevard, Gulberg, Lahore, Pakistan.(Mortgage obtained PKR
15,100,000/-)
(2) Habib Bank Limited,
Centre Branch 102 - 103, Upper Mall, Lahore, Pakistan.
(Mortgage obtained PKR 267,000,000/-)
(3) National Bank of
Pakistan, A.C.P. Model Branch, Shadman, Lahore, Pakistan.
(Mortgage obtained PKR 50,000,000/-)
Memberships
Lahore Chamber of Commerce & Industry.(LCCI)
All Pakistan Textile Mills Association.(APTMA)
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 60.75 |
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UK Pound |
1 |
Rs. 117.80 |
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Euro |
1 |
Rs. 80.50 |
Comments
Subject Company was established in 1990 and is engaged in manufacture & export of Garments Products. Subject market reputation is good. The Company can be considered for normal business dealings at usual trade terms and conditions.
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%)