MIRA INFORM REPORT
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Report Date : |
18.11.2011 |
IDENTIFICATION DETAILS
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Name : |
CHAKWAL TEXTILE MILLS LIMITED |
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Registered Office : |
Kashan-e-Yousaf,
Khawaja Street, Chakwal |
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Country : |
Pakistan |
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Financials (as on) : |
30.06.2009 |
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Year of Establishment : |
1979 |
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Com. Reg. No.: |
0007211 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
business of Textile Spinning |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Pakistan |
b2 |
b2 |
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Risk Category |
ECGC
Classification |
|
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
CHAKWAL TEXTILE MILLS LIMITED
Full Address
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Registered Address |
|
Kashan-e-Yousaf, Khawaja Street, Chakwal, Pakistan |
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Tel # |
92 (543) 5757108 |
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Fax # |
92 (543) 5764036 |
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Email |
Short Description Of Business
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a. |
Nature of Business |
Engaged in the business of Textile Spinning |
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b. |
Year Established |
1979 |
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c. |
Registration # |
0007211 |
Branches
|
Address |
7/1, E-3, Main Boulevard, Gulberg-III, Lahore, Pakistan |
|
Tel # |
92 (42) 35757108, 35717510 |
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Fax # |
92 (42) 35757105, 35764036 |
Mills Location
Aminwal Pindi Road Chakwal,
Pakistan
Auditors
M. Hussain Choudhary & Co.
(Chartered
Accountants)
Legal Status
Subject Company was established as a Non-Listed Public Limited Company in 1979
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Authorised Capital |
Rs. 100,000,000/- |
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Issued & Paid up Capital |
Rs. 10,000,000/- |
Details of Management
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Names |
Designation |
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Mr. Khawaja Mohammad Tanveer Mr. Khawaja Mohammad Jawed Mr. Khawaja Mohammad Jahangir Mr. Khawaja Mohammad Kaleem Mr. Khawaja Mohammad Nadeem Mr. Khawaja Mohammad Naveed Mr. Mohammad Aman |
Chief Executive Director Director Director Director Director Director |
Categories of Shareholders
|
Categories |
Percentage (%) |
|
Individuals |
100 |
Associates
A. Subsidiary
None
B. Associated
Companies
(1) Chakwal Spinning Mills Limited, Pakistan.
(2) Chakwal Chemicals Limited, Pakistan.
Business Activities
Subject Company is engaged in the business of Textile Spinning.
No of Employees
367
Annual Sales Volume
|
Year |
In Pak Rupees |
|
2008 2009 |
622,266,490/- 713,617,706/- |
Mills Installed
20,772 spindles
Customers
(Foreign)
Mainly Textile Manufacturers, Private Companies etc
Bankers
(1) Habib Metropolitan
Bank Limited, Pakistan.
(2) Allied Bank Limited,
Pakistan.
(3) Bank Alfalah
Limited, Pakistan.
(4) Askari Bank Limited,
Pakistan.
(5) Faysal Bank Limited,
Pakistan.
Memberships
·
Lahore Chamber of Commerce & Industry.(LCCI)
·
All Pakistan Textile Mills Association.(APTMA)
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 1979. Subject is engaged in the business of Textile Spinning. 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.50.72 |
|
UK Pound |
1 |
Rs.79.88 |
|
Euro |
1 |
Rs.68.64 |
RATING EXPLANATIONS
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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 |
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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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.