MIRA INFORM REPORT

 

 

Report Date :

17.07.2012

 

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

 

 

Date of Incorporation :

1996

 

 

Com. Reg. No.:

0012534

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacturers of Steel Reinforcement Bars, Steel Products in Pakistan

 

 

No. of Employees :

313

 

 

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 :

Good

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

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

 

6.

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

 

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

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

 

Associated Companies

 

(1) Fatemi Wires, Pakistan.

(2) Steel Centre, Pakistan.

 

 

Products

 

Manufacturers of Steel Reinforcement Bars, Steel Products in Pakistan

 

 

Number of Employees

 

313

 

Plant Capacity & Actual Production

 

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

 

 

Annual Sales Turnover

 

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. 94.80

UK Pound

1

Rs. 146.70

Euro

1

Rs. 116.10

 

 

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.54.92

UK Pound

1

Rs.85.47

Euro

1

Rs.67.15

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.