MIRA
INFORM REPORT
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Report Date : |
04.09.2007 |
IDENTIFICATION DETAILS
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Name : |
DARSON INDUSTRIES (PRIVATE) LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1953 |
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Com. Reg. No.: |
0001697 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing of Industrial Rubber Products & Automotive
Hoses |
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 : |
Regular |
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Litigation : |
Clear |
Business Name
DARSON INDUSTRIES (PRIVATE) LIMITED
Full Address
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Registered Address
& Factory |
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Tel |
92 (55) 6603616,
6605479 |
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Fax |
92 (55) 6600035 |
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Short Description Of
Business
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Nature of Business |
Manufacturing of Industrial Rubber Products & Automotive
Hoses |
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Year Established |
1953 |
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Registration # |
0001697 |
Branches
In
Auditors
Rehman Sarfaraz & Co.
(Chartered Accoutants)
Appt # 4, Block-B,
Legal Status
Subject Company was established as a Partnership business in 1953. In 1963 it was converted to Private Limited Company
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Authorised Capital |
Rs. 10,000,000/- |
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Issued & Paid up Capital |
Rs. 8,500,000/- |
Details of Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mrs. Huma Omar Mr. Abdul Hamid Mr. Sajjad Rubbani Butt Mr. Ghulam Mansoor |
Pakistani Pakistani Pakistani Pakistani |
H.No. 15-F-C-C Muratab Ali Road Gulberg, |
Business Business Business Service |
Chief Executive Director Director Export Manager |
Shareholders
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Names |
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Mrs. Huma Omar Mr. Abdul Hamid Mr. Sajjad Rubbani Butt |
Associates
A. Subsidiary
None
B. Associated Companies
- Do -
Business Activities
(1) Subject Company is engaged in manufacturing of Industrial Rubber Products & Automotive Hoses.
(2) It purchases raw material against L/C basis.
(3) Its mainly import from
(4) It sells against Cash / Credit Terms to local Automobile Manufacturers. Where in case of export, payment would be accepted through L/C basis.
(5) Its major customers are Industrial Organizations, Automotive Companies etc.
(6) Subject operates from caption leased factory premises of area measuring 10,000 Sq.Yard. which is situated in industrial area.
(7) Subject employs about 276 persons in its set up.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
200,000,000/- (Estimated) |
Agencies (Foreign)
Subject Company represents some international companies belongs to China & European Countries regarding purchases of raw materials
Bankers
PICIC Commercial Bank Limited,
(Mortgage obtained PKR 40,000,000/-)
Habib Bank Limited,
MCB Bank Limited,
Bank Alfalah Limited,
Faysal Bank Limited,
Standard Chartered
Memberships
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 60.87 |
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UK Pound |
1 |
Rs. 122.50 |
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Euro |
1 |
Rs. 82.80 |
Comments
Subject Company was established in 1953 and is engaged in manufacturing of Industrial Rubber Products & Automotive Hoses. All the directors are reported as resourceful and experienced businessmen. Trade relations are reported as fair. 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. |
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%)