MIRA
INFORM REPORT
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Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
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Name : |
LOADS LIMITED |
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Registered Office : |
Plot No. 23, Sector 19, Korangi Industrial
Area, |
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Country : |
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Financials (as on) : |
30.06.2010 |
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Year of Establishment : |
1979 |
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Com. Reg. No.: |
0006620 |
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Legal Form : |
Non-Listed Public Limited Company |
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Line of Business : |
Manufacture of Radiators, Exhaust Systems & Sheet Metal Components |
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 : |
No Complaints |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Business Name
LOADS LIMITED
Full Address
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Registered
Address & Factory |
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Plot No. 23, Sector 19, Korangi Industrial
Area, |
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Tel # |
92 (21) 35065001 - 05 (5 Lines) |
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Fax # |
92 (21) 35057453, 35057454 |
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Email |
Short Description Of Business
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Nature of Business |
Engaged in manufacture of
Radiators, Exhaust Systems & Sheet Metal Components |
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Year Established |
1979 |
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Registration # |
0006620 |
Branches
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In |
Auditors
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KPMG Taseer Hadi & Co. (Chartered
Accountants) Sheikh Sultan Trust Building No. 2, |
Legal Status
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Subject Company was incorporated as a Non-Listed Public Limited
Company in 1979 |
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Authorized Capital |
Rs. 100,000,000/- divided into 10,000,000
shares of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 60,000,000/- divided into 6,000,000
shares of Rs. 10/- each |
Details of Directors
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Names |
Designation |
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Mr. Munir K Bana Mr. Jalis Ahmed Siddiqi Mr. Bejon E Vakharia Mr. M. Ziauddin Mr. Syed Shahid Ali Mr. Saulat Said Mr. Syed Sheharyar Ali |
Chief Executive
Officer Director Director Director Director Director Director |
Shareholders
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Names |
No. of Shares |
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IGI Insurance Limited, Miss Uzma Ziauddin Miss Abidah Ziauddin Mr. Bejan E. Vakharia Mr. Syed Shahid Ali Mr. J.E. Mehta Escanaba Limited Mr. Kelly Patel Mr. Sohail Bana Mr. Munir K Bana Mr. Sheharyar Ali Mr. Ziauddin Mrs. Khalida Ziauddin Mrs. Khadija Wajid Ali Mrs. Nilofer Qasim Mehdi Mrs. Namwar Javaid Hassan Mr. Saulat Said |
1,249,260 128,396 128,396 57,817 1,554,003 500 2,541,640 100,000 50,000 83,390 500 27,387 27,388 11,294 19,765 19,764 500 |
Associates
A. Subsidiary
None
B. Associated
Companies
- Do -
Products
Loads manufactures Radiators (produced from Copper and Brass), Mufflers /
Exhaust Systems (produced from Stainless Steel, Aluminized Steel &
Galvanized Iron) as well as Sheet Metal Components of various kinds.
Number of Employees
300
Annual Production Volume
The production capacity of the plant cannot be
determined as this depends on the relative proportions of various types of
components.
Annual Sales Volume
|
Years |
In Pak Rupees |
|
2009 2010 |
1,298,137,270/- 1,409,497,077/- |
Clientele (Pakistan
Mainly Auto Manufacturing Companies, Distribution Companies etc
Bankers
(1)
HSBC Bank Middle East
Limited,
(2)
Citibank N.A.,
(3)
Standard Chartered
(4)
Askari Bank Limited,
(5)
Soneri Bank Limited,
(6)
JS Bank Limited,
(7)
Habib Bank Limited,
(8)
Bank Alfalah Limited,
Memberships
·
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 85.40 |
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|
1 |
Rs. 138.25 |
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Euro |
1 |
Rs. 118.72 |
Comments
Subject Company
was established in 1979 and is engaged in manufacture of Radiators, Exhaust Systems
& Sheet Metal Components. Market reputation
is good in the local businesses. Trade relations are reported as fair. Company
can be considered for normal business dealings at usual trade terms and
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.99 |
|
|
1 |
Rs.73.24 |
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Euro |
1 |
Rs.62.80 |
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 |
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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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.