MIRA INFORM REPORT

 

 

Report Date :

21.03.2008

 

 

IDENTIFICATION DETAILS

 

Name :

AL-KARAM TEXTILE MILLS (PVT) LIMITED

 

 

Registered Office :

3rd Floor, Karachi Dock Labour Board Building, 58 West Wharf Road, Karachi

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1986

 

 

Com. Reg. No.:

0013997

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture and Export of Yarn, Grey Fabric, Dyed Fabric, Yarn Dyed Fabric, Knit, Fashion Garments, Home Textile Products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

Business Name

 

AL-KARAM TEXTILE MILLS (PVT) LIMITED

 

 

Full Address       

 

Registered Address

3rd Floor, Karachi Dock Labour Board Building, 58 West Wharf Road, Karachi, Pakistan

                       

Tel

92 (21) 2313036, 2313031

Fax

92 (21) 2310625

Email

headoffice@alkaram.com

 

 

 

Short Description Of Business

 

Nature of Business           

Manufacture & Export of Yarn, Grey Fabric, Dyed Fabric, Yarn Dyed Fabric, Knit, Fashion Garments, Home Textile Products

Year Established

1986

Registration #

0013997

 

 

Factory Location

 

HT-11, Landhi Industrial Area,
75150 Karachi, Pakistan

 

Auditors

 

M/s Hyder Bhimji & Co.

(Chartered Accountants)

2nd Floor, Standard Insurance House, I.I. Chundrigar Road, Karachi, Pakistan

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1986

 

 

Authorized Capital

Rs. 250,000,000/- divided into 25,000,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 180,000,000/- divided into 18,000,000 shares of Rs. 10/- each

 

 

 

 

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Anwar Haji Karim

 

 

Mr. Ebrahim H. Karim

 

 

Mr. Haroon Haji Karim

 

 

Mr. Umer Haji Karim

 

 

 

Mr. Yaqoob Haji Karim

 

 

Mr. Iqbal Ebrahim

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

H-79/1, Street # 9, Block IV, D.H.A., Karachi

 

89/1, Khayaban-e-Shamsheer, D.H.A.,

Phase VI, Karachi

 

89/1, Khayaban-e-Shamsheer, D.H.A.,

Phase VI, Karachi

 

89/1, Khayaban-e-Shamsheer, D.H.A.,

Phase VI, Karachi

 

89/1, Khayaban-e-Shamsheer, D.H.A.,

Phase VI, Karachi

 

89/1, Khayaban-e-Shamsheer, D.H.A.,

Phase VI, Karachi

Business

 

 

 

Business

 

 

 

Business

 

 

 

Business

 

 

 

Business

 

 

 

Business

Chief Executive

 

 

Director

 

 

 

Director

 

 

 

Director

 

 

 

Director

 

 

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Mr. Ebrahim Haji Karim

 

Mrs. Hajra Bai Haji Ebrahim

 

Mr. Ahmed Haji Ebrahim

 

Mr. Mahmood Ahmed

 

Mr. Iqbal Haji Ebrahim

 

Mrs. Afshin Iqbal

 

Mr. Rafiq Haji Ebrahim

 

Mrs. Zainab Rafiq

 

Mr. Ismail Haji Ebrahim

 

Mr. A. Karim Ismail

 

Mrs. Zeenat Ebrahim

 

Mrs. Khairoon Bai H. Haroon

 

Mr. Sajid Haji Haroon

 

Mrs. Saira Haji Haroon

 

Mrs. Shahnaz Haji Haroon

 

Mr. Salik Sajid

 

Mr. Safi Sajid

 

Mrs. Fatima Sajid

 

Mr. Umer Haji Karim

 

Mrs. Ameena Haji Umer

 

Mr. Afzal Umer

 

Mr. Abib Umer

 

Mrs. Akila Umer

 

Mrs. Azila Umer

 

Mrs. Anisa Umer

 

Mr. Ajmal Afzal

 

Mr. Maqsood Haji Razzak

 

Mr. Mubashir Maqsood

 

Mr. Mujib Haji Razzak

 

Mrs. Mehfooza Haji Razzak

 

Mr. Mumtaz Haji Razzak

 

Mrs. Zahida Mujib

 

Mrs. Yasmin Haji Razzak

 

Mrs. Mehzabeen Haji Razzak

 

Mr. Anwar Haji Karim

 

Mr. Fahad Anwar

 

Mr. Fayaz Anwar

 

Mrs. Fouzia Anwar

 

Mrs. Feroza Anwar

 

Mrs. Zeenat Anwar

 

Mr. Yakoob Haji Karim

 

Mrs. Shahida Yakoob

 

Mr. Anis Yakoob

 

Mr. Noman Yakoob

 

Mrs. Farah Yakoob

 

Mrs. Sara Yakoob

 

Mrs. Sana Yakoob

43,200

 

255,600

 

333,335

 

270,000

 

333,335

 

270,000

 

333,335

 

270,000

 

333,335

 

270,000

 

287,875

 

382,140

 

772,497

 

649,108

 

656,248

 

216,000

 

216,000

 

108,000

 

72,000

 

295,920

 

252,000

 

752,040

 

375,840

 

375,840

 

376,318

 

500,040

 

449,820

 

299,880

 

449,774

 

375,210

 

375,210

 

300,170

 

374,731

 

375,210

 

216,000

 

799,920

 

799,920

 

428,400

 

428,400

 

327,355

 

211,320

 

211,320

 

736,344

 

736,530

 

368,280

 

368,280

 

367,920

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

None

           

B.         Associated Companies

 

Al-Karam Textile Mills Limited.

Sattar (Pvt) Limited.

Dhabeji Salt Works Pvt Ltd.

Farooqi Food Industries.

Gul Agencies Pvt Ltd.

Haji Karim Haji Mohammad.

Iqbal Textile Mills Ltd.

Imran Crown Cork Pvt Ltd.

Muslim Cotton Mills Ltd.

Orient Textile Mills Ltd.

Pakistan Dairy Products Ltd.

Zaman Textile Mills Ltd.

Thermo King Pvt Ltd.             

 

 

Business Activities

 

Subject Company is engaged in manufacture & export of Yarn, Grey Fabric, Dyed Fabric, Yarn Dyed Fabric, Knit, Fashion Garments, Home Textile Products.

 

Its mainly import Textile Raw Materials, Textile Machineries through L/C, T.T. basis.

 

Its brand names are SHABNAM, CHANCELLOR, IGLOO, SUPER COT AL-KARAM.

 

It sells its product through Cash, L/C, T.T. basis (In case of Export).

 

Its main customers are Individuals, Reputable Companies, Worldwide.

 

Subject operates from caption leased office premises measuring 2,200 Sq.ft. which is situated in commercial area.

 

Subject employs more than 1,500 persons in its set up.

 

Annual Sales Volume

 

Year

In Pak Rupees

2006

700,000,000/- (Estimated)

 

 

Production Capactiy

 

Daily 63 Tons Of Cotton & Blended Yarn, 17534 Fabric, 50000 Mt Dyeing, 60000 Mt Printing,116666 Mt Fi

           

 

Bankers

 

(1) Habib Bank Limited, Pakistan.

(2) Habib Metropolitan Bank Limited, Pakistan.

(3) Standard Chartered Bank, Pakistan.

(4) Faysal Bank Limited, Pakistan.

(5) Askari Commercial Bank Limited, Pakistan.

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

·         All Pakistan Textile Mills Association.(APTMA)

 

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

Rs. 63.15

UK Pound

1

  Rs. 124.55  

Euro

1

Rs. 97.10

 

 

Comments

 

Subject Company was established in 1986 and is engaged in manufacture & export of Yarn, Grey Fabric, Dyed Fabric, Yarn Dyed Fabric, Knit, Fashion Garments, Home Textile Products. Market reputation is good. Trade relations are reported as fair. Company can be considered for normal business dealings at usual trade terms and conditions.

 

 

 

 

 

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

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