MIRA INFORM REPORT

 

 

Report Date :           

13.12.2011

 

IDENTIFICATION DETAILS

 

Name :

M.B. DYES CHEMICALS AND SILK INDUSTRY (PVT.) LIMITED

 

 

Registered Office :

M.R. 4/17, Ali Akber Street, Jodia Bazar, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

1990

 

 

Com. Reg. No.:

0021201

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

manufacture of Textile Chemicals, Textile Auxiliaries

 

 

No. of Employees :

120 persons

 

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

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Pakistan

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Business Name

 

M.B. DYES CHEMICALS AND SILK INDUSTRY (PVT.) LIMITED

 

 

Full Address       

 

Registered Address

M.R. 4/17, Ali Akber Street, Jodia Bazar, Karachi, Pakistan

                       

Tel #

92 (21) 32431023, 32434414, 32441550, 32441552

Fax #

92 (21) 32413936

Email

mbdyes@brain.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture of Textile Chemicals, Textile Auxiliaries. Also engaged in import & trading of Dyes & Pigments, Chemical Additives used for Textile processing & manufacturing

b.

Year Established

1990

c.

Registration #

0021201

 

 

Branches

 

Address

203, 2nd Floor, Eden Centre, 43-Jail Road, Lahore, Pakistan

Tel #

92 (42) 7561425, 7561424

Fax #

92 (42) 7561426 

 

 

Factory Location

 

320/2 Gadoon Amazai Industrial

Estate, Swabi, NWFP, Pakistan

 

 

Auditors

 

Ghafoor & Co.

(Chartered Accountants)

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1990

 

 

Authorized Capital

Rs. 200,000,000/- divided into 2,000,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 168,000,000/- divided into 1,680,000 shares of Rs. 100/- each

 

 

Details of Directors

 

Names

Nationality

Address

Occupation

Designation

Mr. Mahmood Salam

 

 

Mr. Ehsan Elahi

Pakistani

 

 

 

Pakistani

 

 

M.R. 4/17, Ali Akber Street, Jodia Bazar, Karachi

 

M.R. 4/17, Ali Akber Street, Jodia Bazar, Karachi

Business

 

 

 

Business

 

 

Chief Executive

 

 

 

Director

 

 

 

 

Shareholders                

 

Names

No. of Shares

Mr. Maqbool Salam

 

Mr. M. Sarfaraz

 

Mr. Mehboob Salam

 

Mr. Munir Ahmad

 

Mrs. Safia Mehmood

 

Mrs. Hina Mehboob

 

Mrs. Asma Mehboob

 

Mr. Noor Mehboob

 

Mrs. Sumaira Maqbool

 

Mr. Ehsan Elahi

 

Mr. Rizwan Luqman

 

Mr. Haseeb Luqman

 

Mrs. Rohina Arshad

 

Mrs. Sana Luqman

 

Mr. Zahid Akhtar

 

Mr. M. Salam

 

Mr. Abdus Salam

1,493,250

 

12,000

 

12,500

 

12,500

 

12,500

 

13,000

 

13,000

 

11,500

 

12,000

 

11,750

 

12,250

 

12,250

 

11,500

 

11,500

 

12,500

 

8,000

 

8,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                                            

           

B.         Associated Companies

 

(1)     M.B. Knitwear Pvt Limited, Pakistan.

(2)     Mehmood Brothers, Pakistan.

(3)     Ehsan Elahi Yarn Broker, Pakistan.

(4)     Mumtaz Enterprises, Pakistan.

 

 

Business Activities

 

Subject Company is engaged in manufacture of Textile Chemicals, Textile Auxiliaries. Also engaged in import & trading of Dyes & Pigments, Chemical Additives used for Textile processing & manufacturing.

 

It purchases raw material against L/C, D/A basis.

 

It’s mainly import from India, China & European Countries.

 

Its major customers are Textile Companies, Garment Factories, Trading Companies etc.

           

Office & Factory premises are owned by the Group.

 

Subject employs about 120 persons in its set up.

 

 

           


Annual Sales Volume

 

Year

In Pak Rupees

2009

160,000,000/- (Estimated)

 

 

Actual Production Capacity

 

The capacity and production of the company’s plant is indeterminable as it is multi- product and involves various processes of manufacture.

 

 

Trade Suppliers (Foreign)

 

·         ENOC INTERNATIONAL, U.A.E.

·         GULSHAN POLYOLS LIMITED, INDIA.

·         ADHIK CHEMICALS (PVT) LIMITED, INDIA.

·         HUBEI HWALLE DYESTUFF INDUSTRY CO. LTD, CHINA.

 

 

Bankers

 

·         Bank Alfalah Limited, Pakistan.

·         The Bank of Khyber, Pakistan.

·         Habib Bank Limited, Pakistan.

·         Askari Bank Limited, Pakistan.

                 

 

Memberships

 

·         Sarhad Chamber of Commerce & Industry.(SCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 89.00

UK Pound

1

           Rs. 139.00

Euro

1

           Rs. 118.30

 

 

Comments

 

Subject Company was established in 1990 and is engaged in manufacture of Textile Chemicals, Textile Auxiliaries. Also engaged in import & trading of Dyes & Pigments, Chemical Additives used for Textile processing & manufacturing. Market reputation is satisfactory. 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.52.42

UK Pound

1

Rs.81.92

Euro

1

Rs.69.94

 

 

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.