MIRA
INFORM REPORT
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Report Date : |
08.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MUGHAL STEEL |
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Registered Office : |
17 K.M. Mission Road Off
Sheikhpura Road, Lahore |
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Country : |
Pakistan |
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Date of Incorporation : |
1940 |
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Legal Form : |
Partnership Concern |
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Line of Business : |
Manufacturers of Billet, Ingot for Mild Steel, Carbon
Steel, Special Steels and Stainless Steel |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
|
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 : |
Regular |
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Litigation : |
Clear |
Business Name
MUGHAL STEEL
Full Address
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Registered Address |
|
17 K.M. Mission Road Off
Sheikhpura Road, Lahore, Pakistan |
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Tel |
92 (42) 7970227, 7970226 |
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Fax |
92 (42) 7970326 |
Short Description Of Business
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Nature of Business |
Manufacturers of Billet, Ingot for Mild Steel, Carbon Steel, Special Steels and Stainless Steel |
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Year Established |
1940 |
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National Tax # |
1510620 |
Branches
|
Address |
41 - Peco Road, Badami Bagh,
Lahore, Pakistan |
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Tel # |
92 (42) 7281076,
7288410 |
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Fax # |
92
(42) 7970326 |
Legal Status
Subject Concern was established as a Private Limited Company in 1940 then afterwards it was converted to Partnership business
Details of Managing
Partner/Partners
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Javed Iqbal Mughal Mr. Tariq Iqbal Mughal Mr. Jamshed Mughal Mr. Shakeel Ahmed |
Pakistani Pakistani Pakistani Pakistani |
41 - Peco Road, Badami Bagh, Lahore 41 - Peco Road, Badami Bagh, Lahore 41 - Peco Road, Badami Bagh, Lahore 41 - Peco Road, Badami Bagh, Lahore |
Business Business Business Service |
Managing Partner Partner Partner General Manager |
Associates
A. Subsidiary
None
B. Associated Companies
Mughal Laboratories, Pakistan.
Mughal Hospitals, Pakistan.
Business Activities
Subject Concern is engaged in the business as manufacture & marketing of Billet, Ingot for Mild Steel, Carbon Steel, Special Steels and Stainless Steel.
It sells against Cash / Credit terms.
Its’ major customers are Traders, Construction Companies, Government Organizations etc
Subject operates from caption leased office premises of area measuring 700 Sq.Yard. which is situated in commercial area.
Subject employs about 500 persons in its set up.
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2006 |
700,000,000/- (Estimated) |
Clientele
(1) Chashma Dam Power Project, Pakistan.
(2) Ghazi Brotha Power Projects, Pakistan.
(3) Army Trust Welfare Cement Factory, Pakistan.
(4) Army Housing Societies, Pakistan.
(5) National Highway Authority, Pakistan.
(6) Pearl Continental Hotels, Pakistan.
Annual Production Volume
Currently Mughal Steel Produces 219,000 Tons of Steel per annum
Bankers and their addresses
Bank Alfalah Limited, Badami Bagh Branch, Lahore, Pakistan.
Memberships
Lahore Chamber of Commerce & Industry.(LCCI)
Foreign Exchange Rates
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 60.88 |
|
UK Pound |
1 |
Rs. 127.80 |
|
Euro |
1 |
Rs. 89.20 |
Comments
Subject Concern was established in 1940 and is engaged in
manufacture & marketing of Billet, Ingot for Mild Steel, Carbon Steel, Special
Steels and Stainless Steel. Market reputation is good. Trade relations are
reported as fair. Payments to creditors etc are reported as normal. The Concern
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. |
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%)