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MIRA
INFORM REPORT
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Report Date : |
15.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MANDIALI PAPER MILLS (PRIVATE) LIMITED |
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Registered Office : |
21-K.M., Sheikhupura Road, Lahore |
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Country : |
Pakistan |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
0017282 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture and Marketing of Paper and Paper Board |
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
MANDIALI PAPER
MILLS (PRIVATE) LIMITED
Full Address
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Registered
Address |
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21-K.M., Sheikhupura Road, Lahore, Pakistan |
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Tel |
92 (42) 7970251, 7970252 |
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Fax |
92 (42) 7970416 |
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Email |
Short Description Of Business
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Nature of Business |
Manufacture
& marketing of Paper & Paper Board |
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Year Established |
1989 |
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Registration # |
0017282 |
Branches
61-A, B-III, Gulberg-III,
Near Hussain Chowk, Lahore,
Pakistan
Auditors
M/s Arman & Co.
(Chartered Accountants)
164/6, Shadman-1, Lahore, Pakistan
Legal Status
Subject Company was established as a Private Limited Company in 1989
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Authorized Capital |
Rs. 100,000,000/- divided into 1,000,000 shares of Rs. 100/- each |
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Issued & Paid up Capital |
Rs. 80,000,000/- divided into 800,000 shares of Rs. 100/- each |
Details of Chief Executive /
Directors
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Names |
Designation |
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Mr. Sheikh Manzoor Ali Mr. Shahzad Manzoor Mr. Adil Manzoor Mr. Sheikh Ali Abbas Mr. Sheikh Zahoor Ali Mr. Muhammad Saeed Mr. Tahir Saeed Mr. Shahid Saeed |
Chief Executive Director Director Director Director Director Director Director |
Shareholders
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Names |
No. of Shares |
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Mr. Sheikh. Zahoor Ali Mrs. Khushnood Begum Mr. Muhammad Saeed Mrs. Masooma Saeed Mr. Asad Ali Mr. Turab Ali Mr. Ahsan Ali Mr. Shahid Saeed Mr. Naghmana Saeed Mr. Kamran Pasha Mr. Tahir Saeed Mr. Zahra Tahir Mr. Sheikh Manzoor Ali Mrs. Ismat Zeba Mr. Shahzad Manzoor Mrs. Najma Naheed Miss Fatima Bakhtawar Mr. Adil Manzoor Mr. Saba Shaukat Mr. M. Ali Raj Mr. Sheikh Ali Abbas Mrs. Shaher Bano Miss Bakhtawar Abbas Miss Mahnoor Abbas Mr. Hayat Mehdi Mr. Hassan Altaf Mehdi Mrs. Mahrunnisa Batool Mrs. Bano Batool Miss Narjis Batool Mrs. Sabiha Zehra Mrs. Saira Batool Mrs. Naheed Sajjad Mrs. Tehseen Rubi Mrs. Nasreen Begum Mr. Mutahir Hussain Mrs. Farwa Ali Sheikh Mrs. Yaseen Akhtar Mr. Shariq Bhatti Mr. Tahir Saeed Mr. Atif Shakeel |
13,700 23,500 33,300 42,004 13,000 8,000 24,000 40,500 42,000 30,000 28,000 20,000 15,600 29,500 31,900 33,000 21,000 39,000 108,295 19,000 35,200 6,000 6,000 6,000 8,000 8,000 8,000 8,000 8,000 4,000 8,000 8,000 10,000 10,000 30,000 4,886 8,000 3,000 3,000 2,615 |
Associated Companies
(1) Premier
Paper Mills Limited, Pakistan.
Business Activities
Subject Company is engaged in the business as manufacture & marketing of Paper Products Including Writing, Printing, Photocopy Papers, Diaries, Calendars, Multicolour Printing, Ledger Books, Cheque Printing & Share Certificates by their brand name of “MANDIALI”
It purchases against D/A, L/C basis.
It sells against Cash / Credit terms.
It’s mainly import from U.S.A., U.A.E., Belgium, Australia.
Its major customers are Distributors, Trading Companies, Government Enterprises etc
Subject operates from caption leased factory premises which is situated in industrial area.
Subject employs about 300 persons in its set up.
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 - 2007 |
350,000,000/- (Estimated) |
Trade Suppliers (Foreign)
(1) AMERICAN PULP & PAPER CORPORATION, U.S.A.
(2) ELOF HANSSON AB, BELGIUM
(3) TRIGON GULF FZCO, U.A.E.
(4) INTERNATIONAL PAPER COMPANY, U.S.A.
Capacity & Production
Mandiali
Paper Mills started production in 1992. A combination machine with its own wheat
straw pulp mills to improve quality came into operation in 1994. Latest press
part and D.C. drive against obsolete line shaft was in Vogue. Now it’s Pakistan’s
first combination machine to produce paper and board ranging from 40GSM ~
400GSM. Originally the plant was designed to manufacture 14,400 MT/Year of
writing, printing and packaging paper. The trial production started in November
1991 and commercial production from May 1992. The production capacity has
increased to 22000 MT/Year after successful completion of
modernization/expansion programme
in 2000-2001.
Future Prospects
Consumption of paper & paperboard in the
country will continue to increase in line with overall economic development. In
developing economics like Pakistan, the growth in consumption of paper and
paper board is always substantially higher than GDP growth rate. Company is
fully geared up to meet the growing demand of quality paper and paperboard.
Bankers
1)
KASB Bank Limited, Pakistan.
2)
Habib Metropolitan Bank Limited, Pakistan.
3)
MCB Bank Limited, Pakistan.
4)
Standard Chartered Bank, Pakistan.
5)
Faysal Bank Limited, Pakistan.
6)
Saudi Pak Commercial Bank Limited, Pakistan.
Memberships
·
Lahore Chamber of Commerce & Industry. (LCCI)
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 76.40 |
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UK Pound |
1 |
Rs. 136.80 |
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Euro |
1 |
Rs. 108.40 |
Comments
Subject is a well-established company having
satisfactory track. Directors are reported as qualified, experienced and
resourceful businessmen. Trade relations are reported as fair. Payments are
usually correct and as per commitments. Company can be considered for normal
business dealings at usual trade terms and conditions.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.94 |
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UK Pound |
1 |
Rs.82.84 |
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Euro |
1 |
Rs.65.95 |
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%)