MIRA INFORM REPORT

Report Date :

17.11.2011

IDENTIFICATION DETAILS

Name :	BISMILLAH FABRICS (PVT) LIMITED

Registered Office :	P-5, Karkhana Bazar, Faisalabad

Country :	Pakistan

Year of Establishment :	1993

Com. Reg. No.:	0030665

Legal Form :	Private Limited Company

Line of Business :	manufacture & sale of Fabrics & Textile Products

RATING & COMMENTS

MIRA’s Rating :

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 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

BISMILLAH FABRICS (PVT) LIMITED

Full Address

Registered Address

P-5, Karkhana Bazar, Faisalabad, Pakistan

Tel #	92 (41) 2616640, 2616641
Fax #	92 (41) 2616641

Short Description Of Business

a.	Nature of Business	Engaged in the manufacture & sale of Fabrics & Textile Products
b.	Year Established	1993
c.	Registration #	0030665

Factory Location

3.5 K.M., Jhumra Road, Khurianwala,

Faisalabad, Pakistan

Auditors

Avais Hyder Liaquat Nauman

(Chartered Accountants)

Legal Status

Subject Company was established as a Private Limited Company in 1993

Authorised Capital	Rs. 250,000,000/- divided into 2,500,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 211,457,100/- divided into 2,114,571 shares of Rs. 100/- each

Details of Management

Names

Designation

Mr. Abdul Waheed Sheikh

Mr. Dildar Ahmad Sheikh

Mst. Razia Begum

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Abdul Waheed Sheikh

Mr. Farooq Ahmad Sheikh

Mr. Dildar Ahmad Sheikh

Mrs. Iram Shahzadi

Mrs. Riffat Aslam

Ms. Bristol Associates

Tritex Industries (Pvt) Limited

Citi Bel Trading Co.

Mst. Razia Begum

919,999

15,999

9,000

25,000

372,880

277,120

494,571

Associates

A. Subsidiary

None

B. Associated Companies

(1) Bismillah Textiles Limited, Pakistan.

Business Activities

Engaged in the manufacture & sale of Fabrics & Textile Products

No of Employees

500

Annual Sales Volume

Year	In Pak Rupees
2009	1,000,000,000/- (Estimated)

Mills Installed

28,310 spindles

Customers

Mainly Buying Agencies, Distribution Companies, Textile Manufacturers, Private Companies etc

Bankers

(1) Bank Alfalah Limited, Pakistan.

(2) Askari Bank Limited, Pakistan.

(3) The Bank of Punjab, Pakistan.

(4) Habib Bank Limited, Pakistan.

(5) Faysal Bank Limited, Pakistan.

(6) United Bank Limited, Pakistan.

Memberships

· Faisalabad Chamber of Commerce & Industry.(FCCI)

· Pakistan Hosiery Manufacturers & Exporters Association.(PHMEA)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 86.75
UK Pound	1	Rs. 136.40
Euro	1	Rs. 116.80

Comments

Subject Company was established in 1993. Subject is engaged in manufacture & sale of Fabrics & Textile 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.50.90
UK Pound	1	Rs.80.30
Euro	1	Rs.68.48

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%)

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