MIRA INFORM REPORT

Report Date :

23.09.2011

IDENTIFICATION DETAILS

Name :	AMRELI STEELS LIMITED

Registered Office :	D/89, S.I.T.E., Shershah Road, Opp Shaheen Hotel, Karachi

Country :	Pakistan

Financials (as on) :	30.06.2010

Year of Establishment :	1996

Com. Reg. No.:	0012534

Legal Form :	Non-Listed Public Limited Company

Line of Business :	Manufacturers of Steel Reinforcement Bars, Steel 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 – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Pakistan

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

AMRELI STEELS LIMITED

Full Address

Registered Address & Factory

D/89, S.I.T.E., Shershah Road, Opp Shaheen Hotel, Karachi, Pakistan

Tel #	92 (21) 32561150 - 54 (5 Lines)
Fax #	92 (21) 32561964
Website	www.amrelisteels.com

Short Description Of Business

a.	Nature of Business	Manufacturers of Steel Reinforcement Bars, Steel Products in Pakistan
b.	Year Established	1996
c.	Registration #	0012534

Branches

In Lahore & Rawalpindi

Auditors

Ernst & Young Ford Rhodes Sidat Hyder

(Chartered Accountants)

Legal Status

Subject Company was established as a Private Limited Company in 1996. In 2009 its legal status was changed to Non-Listed Public Limited Company

Authorized Capital	Rs. 3,000,000,000/- divided into 300,000,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 1,434,256,400 divided into 143,425,640 shares of Rs. 10/- each

Details of Directors

Names

Occupation

Mr. Abbas Akberali

Mr. Badruddin Akberali

Mr. Shabbir Badruddin

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Badruddin Akber Ali

Mr. Salsabil Abbas Ali

Mr. Abbas Akberali

Mr. Shabbir Badruddin

Mr. Shayan Akberali

Mrs. Salma Badruddin

Mr. Ali Asghar Badruddin

Mr. Hadi Akberali

Chief Executive

Director

Associated Companies

(1) Fatemi Wires, Pakistan.

(2) Steel Centre, Pakistan.

Products

Manufacturers of Steel Reinforcement Bars, Steel Products in Pakistan

Number of Employees

330

Plant Capacity & Actual Production

Approximately 50,000 - 90,000 Metric Tons per annum

Annual Sales Turnover

(Last 2 Years)

Years

In Pak Rupees

2009

2010

4,056,434,193/-

4,103,226,474/-

Customers

Mainly Trading Companies, Dealers, Private Companies, Government Corporations etc

Bankers

· Meezan Bank Limited, Pakistan.

· Faysal Bank Limited, Pakistan.

· Soneri Bank Limited, Pakistan.

· Bank Al-Habib Limited, Pakistan.

Memberships

· Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 88.90
UK Pound	1	Rs. 138.70
Euro	1	Rs. 121.50

Comments

Subject Company was established in 1996 and is engaged in manufacture of Steel Reinforcement Bars, Steel Products. Market reputation is good. Directors are reported as qualified & experienced businessmen. 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.48.82
UK Pound	1	Rs.75.48
Euro	1	Rs.66.10

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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