MIRA INFORM REPORT

 

 

Report Date :           

26.05.2011

 

IDENTIFICATION DETAILS

 

Name :

NEW SHALIMAR STEEL INDUSTRIES (PRIVATE) LIMITED

 

 

Registered Office :

14-Soharwardi Street, Shalimar Town, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

1985

 

 

Com. Reg. No.:

0013331

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture & Marketing of 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 :

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 – 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

 

NEW SHALIMAR STEEL INDUSTRIES (PRIVATE) LIMITED

 

 

Full Address       

 

Registered Address

14-Soharwardi Street, Shalimar Town, Lahore, Pakistan

                       

Tel

92 (42) 37722599, 37728822

Fax

92 (42) 37728822

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture & Marketing of Steel Products

b.

Year Established

1985

c.

Registration #

0013331

 

 

Work Location

 

Address

45 - Peco Road, Badami Bagh, Lahore, Pakistan

Tel #

92 (42) 37283342, 37281442

Fax #

92 (42) 36278567

 

 

Auditors

 

Fazal Mahmood & Co.

(Chartered Accountants)

147, Shadman I, Lahore, Pakistan

 

 

Legal Status  

           

Subject Company was incorporated as a Private Limited Company in 1985

 

 

 

Authorized Capital

Rs. 300,000,000/- divided into 3,000,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 270,000,000/- divided into 2,700,000 shares of Rs. 100/- each

 

 

Details of Chief Executive / Directors

           

Names

Nationality

Address

Occupation

Designation

Mr. Mian Manzoor Ahmed

 

Mr. Mian Zahoor Ahmed

 

Mr. Mian Shafique Ahmed

 

Mr. Nasir Mahmood

 

 

Mr. Mian Asif Mahmood

 

Mr. Babar Ali

 

 

Mr. Muhammad Saqib Manzoor

 

Mr. Sajid Manzoor

 

 

Mr. Usman Zahoor

Pakistani

 

 

Pakistani

 

 

Pakistani

 

 

Pakistani

 

 

Pakistani

 

 

Pakistani

 

 

Pakistani

 

 

Pakistani

 

 

Pakistani

75-G-1, Model Town, Lahore

 

75-G-1, Model Town, Lahore

 

75-G-1, Model Town, Lahore

 

75-G-1, Model Town, Lahore

 

75-G-1, Model Town, Lahore

 

75-G-1, Model Town, Lahore

 

75-G-1, Model Town, Lahore

 

75-G-1, Model Town, Lahore

 

75-G-1, Model Town, Lahore

Business

 

 

Business

 

 

Business

 

 

Business

 

 

Business

 

 

Business

 

 

Business

 

 

Business

 

 

Business

Chief Executive

 

 

Director

 

 

Director

 

 

Director

 

 

Director

 

 

Director

 

 

Director

 

 

Director

 

 

Director

 

 

Shareholders

           

Names

No. of Shares

Mr. Mian Manzoor Ahmed

 

Mr. Mian Zahoor Ahmed

 

Mr. Mian Shafique Ahmed

 

Mr. Nasir Mahmood

 

Mr. Mian Asif Mahmood

 

Mr. Babar Ali

 

Mr. Sajid Manzoor

 

Mr. Muhammad Saqib Manzoor

 

Mr. Usman Zahoor

 

Mrs. Ghazala Omer

 

Mrs. Neelam Begum

 

Mrs. Imrana Begum

 

Mst. Saeeda Begum

 

Mst. Ruby Begum

 

Mrs. Saman Omer

 

Mrs. Amna Majid

 

Mrs. Sobia Bari

 

Mrs. Huma Azhar Baig

 

Mrs. Semal Omer

 

Mrs. Aqsa Imran

383,186

 

347,907

 

361,584

 

361,701

 

378,201

 

74,562

 

100,000

 

8,384

 

8,000

 

430,950

 

21,471

 

22,153

 

16,829

 

16,454

 

28,103

 

28,103

 

28,103

 

28,103

 

28,103

 

28,103

 

 

Associated Companies

 

(1) Shalimar Steel Re-rolling Mills (Pvt) Limited, Pakistan.

 

 

Products

 

Manufacture of Steel Products including billets/blooms, Re-rollers, I Beam, H Beams, Channels, Angles, Round-Square, ribbed-twisted bars and flats

 

 

Number of Employees

 

335      

 

Actual Steel Consumption

 

100,000 - 500,000 tons per annum

 

 

Annual Sales Revenue

 

Year

In Pak Rupees

2009

550,000,000/- (Estimated)

 

 

Importing Countries

 

Mainly from China, European Countries, Korea, Taiwan & U.K.

 

 

Bankers

 

·         MCB Bank Limited, Pakistan.

·         Askari Bank Limited, Pakistan.

·         Habib Metropolitan Bank Limited, Pakistan.

·         Allied Bank Limited, Pakistan.

 

 

Customers

 

Mainly Traders, Dealers, Government Enterprises, Private Steel Manufacturing Companies etc

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.(LCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 85.70

UK Pound

1

           Rs. 138.40

Euro

1

           Rs. 120.40

 

 

Comments

 

Subject Company was established in 1985 and is engaged in manufacture & sale of steel products. Market reputation is good. Directors are reported as qualified, resourceful & experienced businessmen. 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.45.38

UK Pound

1

Rs.73.31

Euro

1

Rs.63.70

 

 

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.