|
Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
KARAM CERAMICS
LIMITED |
|
|
|
|
Registered Office : |
Bc-6, Block 5,
Scheme 5, Kehkashan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2011 |
|
|
|
|
Year of Establishment : |
1979 |
|
|
|
|
Com. Reg. No.: |
0006864 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Manufacturing of
tiles |
|
|
|
|
No. of Employees : |
460 |
RATING & COMMENTS
|
MIRAs 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) |
|
|
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
KARAM CERAMICS LIMITED
|
Registered
Address |
|
Bc-6, Block 5,
Scheme 5, Kehkashan, Clifton, Karachi, Pakistan |
|
Tel # |
92 (21) 35865561,
35865562, 35865563, 35865564 |
|
Fax # |
92 (21) 35865571 |
|
Email |
|
a. |
Nature of Business |
The principal activity
of the Company is manufacturing of tiles |
|
b. |
Year Established |
1979 |
|
c. |
Registration # |
0006864 |
295 / 311, Deh Halkani,
Hub Dam
Road, Karachi, Pakistan
4 L, Gulberg III, Ferozpur
Road, Lahore, Pakistan
|
Qavi & Co. (Chartered
Accountants) |
|
Subject Company
is a public limited company incorporated in Pakistan and is listed on
Karachi & Lahore Stock Exchanges. |
|
Names |
Designation |
|
Mr. Shaban Ali
G. Kassim Mr. Munawar Ali
S. Kassim Mr. Irshad Ali
S. Kassim Mrs. Mariam
Shaban Ali Mr. Sakin
Noorallah Mr. Shaheen Ali Mr. Shahnawaz
Madhani |
Chairman Chief Executive Vice Chairman Director Director Director Director |
|
Name |
Shareholding
(%) |
|
Promotors / Directors / Acquirers Persons / Bodies with Controlling Interest Government holding as promoter / Acquirer Associated / Group / Companies General Public |
67.60 32.39 |
A. Subsidiary
None
B. Associated Companies
- Do -
Manufacture & sale of Tile & Sanitary
Ware by its brand name of KARAM
460
Tiles
2011 2010
(Sq. Meters)
Capacity
3,600,000 3,100,000
Actual Production 3,399,118 3,179,109
|
Years |
In Pak Rupees |
|
2010 2011 |
933,333,387/- 1,055,479,354/- |
Mainly Traders,
Retailers in all major cities of Pakistan
(1)
Soneri Bank Limited, Pakistan.
(2)
Habib Bank Limited, Pakistan.
(3)
National Bank Limited, Pakistan.
(4)
MCB Bank Limited, Pakistan.
(5)
Habib Metropolitan Bank Limited, Pakistan.
During the year ended June 30, 2011: the Company have registered growth
in Net Revenue of Rs. 1,055.48 million which is 13.09% higher than the net
revenue of Rs. 933.33 million for the preceding year. Increase in sales was due
to high sale value and volume of ceramics tiles achieved during the year.
It is expected
that future demand of ceramic tiles would increase as a result of economic
improvement forecasted globally. Post flood and recent increase in construction
activities would also raise demand of ceramic tiles.
·
Federation Pakistan
Chamber of Commerce & Industry.
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 91.20 |
|
UK Pound |
1 |
Rs. 146.80 |
|
Euro |
1 |
Rs. 118.10 |
Subject is a well-established
company having satisfactory track. Directors are reported as qualified,
experienced and resourceful businessmen. Trade relations are reported as fair.
Payments are usually correct and as per commitments. 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.53.71 |
|
|
1 |
Rs.86.34 |
|
Euro |
1 |
Rs.69.22 |
INFORMATION DETAILS
|
Report Prepared by
: |
PRL |
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 SCs 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.