MIRA INFORM REPORT

 

 

Report Date :

01.10.2011

 

IDENTIFICATION DETAILS

 

Name :

KANWAL INDUSTRIES

 

 

Registered Office :

Office No. 701, 7th Floor Hussain Trade Centre Altaf Hussain Road, Karachi,

 

 

Country :

Pakistan

 

 

Year of Establishment :

1998

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Import, Export & trading of Pulses, Spices, Herbs, Rice, Dry Fruits, Oil Seeds, Onion & Potatoes

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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

 

                                   

Business Name

 

KANWAL INDUSTRIES

 

 

Full Address       

 

Registered Address

Office No. 701, 7th Floor Hussain Trade Centre Altaf Hussain Road, Karachi, Pakistan

                       

Tel #

92 (21) 32216331 - 33 (3 Lines)

Fax #

92 (21) 32216334

 

 

Short Description Of Business

 

a.

Nature of Business        

Import, Export & trading of Pulses, Spices, Herbs, Rice, Dry Fruits, Oil Seeds, Onion & Potatoes

b.

Year Established

1998

c.

National Tax #

0231948

 

 

Branches

 

Shah Bux Market, Anaj Mandi,

Hyderabad, Pakistan

 

 

Mills Location

 

Hyderabad

Plot No. F-4, S.I.T.E., Kotri
District, Jamshoro, Sindh,

Pakistan

 

 

Legal Status

           

Subject Company was established as a Proprietorship business in 1998

 

 

 

Details of Management

 

Names

Nationality

Address

Occupation

Designation

Mr. Gopal Khamuani

 

 

 

 

Mr. Bharat Kumar Manglani

Pakistani

 

 

 

 

 

Pakistani

Office No. 701, 7th Floor Hussain Trade Centre Altaf Hussain Road, Karachi

 

Office No. 701, 7th Floor Hussain Trade Centre Altaf Hussain Road, Karachi

Trading Business

 

 

 

 

Trading Business

Proprietor

 

 

 

 

 

Manager (Import)

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None

           

B.         Associated Companies

 

(1) Akal International, Pakistan

(2) White House Securities Pvt Ltd, Pakistan.

(3) Kanwal Trading Company, Pakistan.  

(4) R.K. Commission Shop, Pakistan.                 

 

 

Business Activities

 

(1) Subject Company is engaged in import, export & trading of Pulses, Spices, Herbs, Rice, Dry Fruits, Oil Seeds, Onion & Potatoes.

 

(3) It purchases against L/C, D/A basis

 

(4) It accepts payments against L/C in case of export.

 

(4) It sells against cash / credit terms to its local customers.

 

(5) Its’ major customers are Trading Companies, Distributors, Retailers etc.

 

(6) Subject operates from caption leased office premises of area measuring 560 Sq ft, which is situated in commercial building.

 

(7) Subject employs about 82 persons in its set up.

 

Annual Sales Volume

 

Year

In Pak Rupees

2008 - 2009

72,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

 

(1)     JAWAHAR EXPORTS, INDIA.         

(2)     VARDHMAN EXPORTS, INDIA.

(3) SHEETAL INDUSTRIES, INDIA. 

(4) GOLDEN HARVEST CO. LIMITED, YANGOON.

 

 

Exporting Countries

           

Mainly to India, Sri Lanka, U.A.E. & Gulf Countries

 

 

Importing Countries

           

Mainly from India, Yangoon, China, Australia, Canada, Tanzania, Bulgaria, Russia.

 

 

Bankers

 

(1)     Askari Commercial Bank Ltd, Pakistan.

(2)     Habib Metropolitan Bank Limited, Pakistan.

(3)     Faysal Bank Limited, Pakistan.

(4)     Meezan Bank Limited, Pakistan.

(1)     Bank Alfalah Limited, Pakistan.

  

 

Memberships

 

·         Hyderabad Chamber of Commerce & Industry. (HCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 88.00

UK Pound

1

           Rs. 138.50

Euro

1

           Rs. 120.50

 

 

Comments

 

Subject Company was established in 1998 and is engaged in import, export & trading of Pulses, Spices, Herbs, Rice, Dry Fruits, Oil Seeds, Onion & Potatoes. Market reputation is good. 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.48.92

UK Pound

1

Rs.76.52

Euro

1

Rs.66.64

 

 

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.