MIRA INFORM REPORT

 

 

Report Date :           

17.08.2011

 

IDENTIFICATION DETAILS

 

Name :

ROYAL STEEL MILLS

 

 

Registered Office :

29 to 32, Small Industrial Estate, Daska, Sialkot

 

 

Country :

Pakistan

 

 

Year of Establishment :

1999

 

 

Com. Reg. No.:

C-2964

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Manufacture of Ingot for Mild Steel, Carbon Steel, Special Steels and Stainless Steel, Melting Steel 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 :

Usually Correct 

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Pakistan

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Business Name

 

ROYAL STEEL MILLS

 

 

Full Address       

 

Registered Address

29 to 32, Small Industrial Estate, Daska, Sialkot, Pakistan

                       

Tel #

92 (52) 6625017, 6825017, +923018646461

Fax #

92 (52) 6825017

 

 

Short Description Of Business

 

a.

Nature of Business

Manufacture of Ingot for Mild Steel, Carbon Steel, Special Steels and Stainless Steel, Melting Steel Products

b.

Year Established

1999

c.

Registration No.

C-2964

 

 

Branches

 

None

 

 

Legal Status

           

Subject Concern  was established as a Partnership business in 1999

 

 

Details of Managing Partner / Partners

 

Names

Nationality

Address

Occupation

Designation

Mr. Mubashir Hameed

 

 

 

Mr. Raza Ali Sahi

Pakistani

 

 

 

 

Pakistani

 

29 to 32, Small Industrial Estate, Daska, Sialkot

 

29 to 32, Small Industrial Estate, Daska, Sialkot

Business

 

 

 

 

Business

 

Managing Partner

 

 

 

Partner

 

 

 

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

           None                                             

           

 

B.         Associated Companies

 

            - Do -

 

 

 

Business Activities

 

Subject Concern  is engaged in the business as manufacturers of Ingot for Mild Steel, Carbon Steel, Special Steels and Stainless Steel, Melting Steel Products.

 

It sells against Cash / Credit terms to its local customers.

 

Its’ major customers are Trading Companies, Private Companies etc

 

Subject operates from caption leased factory premises situated at industrial area of Sialkot.

 

Subject employs about 80 persons in its set up.

 

 

 

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

50,000,000/- (Estimated)

 

 

Annual Production Volume

 

Annual production volume is indeterminable as it mainly depends upon the demand / requirements from their local customer

 

 

Bankers

 

·         Allied Bank Limited, Pakistan.

·         United Bank Limited, Pakistan.

·         MCB Bank Limited, Pakistan.

·         Habib Bank Limited, Pakistan.

 

 

Memberships

 

·         Sialkot Chamber of Commerce & Industry (SCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 86.35

UK Pound

1

           Rs. 141.00

Euro

1

           Rs. 124.20

           

      

Comments

 

Subject Concern  was established in 1999 and is engaged in Manufacture of Ingot for Mild Steel, Carbon Steel, Special Steels and Stainless Steel, Melting Steel Products. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms and conditions.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.25

UK Pound

1

Rs.73.88

Euro

1

Rs.65.06

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.