|
Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
NISHAT (CHUNIAN) LIMITED (NCL) |
|
|
|
|
Registered Office : |
31-Q, Gulberg II, Lahore |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
14.02.1990 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter of Cotton Yarn, Fabrics, Garments, Home
Textiles, Dyed & Printed Fabrics, Textile Made-ups. |
|
|
|
|
No. of Employees : |
6,000 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
PAKISTAN - ECONOMIC OVERVIEW
Decades of internal political disputes and low levels of foreign investment have led to slow growth and underdevelopment in Pakistan. Agriculture accounts for more than one-fifth of output and two-fifths of employment. Textiles account for most of Pakistan's export earnings, and Pakistan's failure to expand a viable export base for other manufactures has left the country vulnerable to shifts in world demand. Official unemployment is under 6%, but this fails to capture the true picture, because much of the economy is informal and underemployment remains high. Over the past few years, low growth and high inflation, led by a spurt in food prices, have increased the amount of poverty - the UN Human Development Report estimated poverty in 2011 at almost 50% of the population. Inflation has worsened the situation, climbing from 7.7% in 2007 to almost 12% for 2011, before declining to 10% in 2012. As a result of political and economic instability, the Pakistani rupee has depreciated more than 40% since 2007. The government agreed to an International Monetary Fund Standby Arrangement in November 2008 in response to a balance of payments crisis. Although the economy has stabilized since the crisis, it has failed to recover. Foreign investment has not returned, due to investor concerns related to governance, energy, security, and a slow-down in the global economy. Remittances from overseas workers, averaging about $1 billion a month since March 2011, remain a bright spot for Pakistan. However, after a small current account surplus in fiscal year 2011 (July 2010/June 2011), Pakistan's current account turned to deficit in fiscal year 2012, spurred by higher prices for imported oil and lower prices for exported cotton. Pakistan remains stuck in a low-income, low-growth trap, with growth averaging about 3% per year from 2008 to 2012. Pakistan must address long standing issues related to government revenues and energy production in order to spur the amount of economic growth that will be necessary to employ its growing and rapidly urbanizing population, more than half of which is under 22. Other long term challenges include expanding investment in education and healthcare, adapting to the effects of climate change and natural disasters, and reducing dependence on foreign donors.
|
Source
: CIA |
NISHAT (CHUNIAN) LIMITED (NCL)
|
Business Name |
Nishat (Chunian) Limited (NCL) |
|
Address |
Registered Office: 31-Q, Gulberg II, Lahore, Pakistan Factory address: Spinning 1, 4 & 5 49th Kilometre, Multan Road, Bhai Pheru,
Tehsil Chunian, District Kasur. Dyeing &
Printing 4th Kilometre, Manga Road, Raiwind. Spinning 2, 3
& Weaving 49th Kilometre, Multan Road, Kamogal, Tehs il Pattoki,
District Kasur. |
|
Telephone |
+92-42-35761730-9 |
|
Fax |
+92-42-35878696-7 |
|
Mobile |
+92-300-8443311 Sh. Muhammad
Saleem - Director |
|
Email |
|
|
Website |
|
|
Business activities |
Manufacturer, Exporter of Cotton Yarn, Fabrics, Garments, Home
Textiles, Dyed & Printed Fabrics, Textile Made-ups. |
Registry Details
|
CRO Registration Number |
0021135 |
|
Date of Registration |
February 14, 1990 |
Other registry & certification details:
|
Current Legal Form |
Limited Liability Company |
|
National Tax Registration Number |
0225898-6 |
|
Date of Registration |
November 12, 1995 |
|
GST Registration Number |
0305520204946 |
|
Date of Registration & Expiry |
May 01, 1992 |
|
Chamber of Commerce & Industry |
Lahore Chamber of Commerce and Industry |
|
ISO Certification |
ISO 9001:2008 |
|
Other certifications |
Pakistan Textile Mill Association |
|
Date of Registration |
Undetermined |
Capital
|
Type |
No. of Shares |
Par Value |
Total Value |
|
Authorized |
250,000,000 |
PKR. 10/- |
PKR.2,500,000,000/- |
|
Issued, Subscribed & Paid-Up |
181,986,028 |
PKR. 10/- |
PKR.1,819,860,280/ |
History
|
Who started |
Undetermined |
|
When started |
1990 |
|
Change in management |
None |
|
Year of change |
N/A |
|
Change in legal status |
None |
|
Year of change |
N/A |
|
Change in business name |
None |
|
Year of change |
N/A |
|
Name |
Number of Shares |
Nationality |
Appointment Date
(Last) |
|
Mr. Shahzad Saleem |
Undetermined |
Pakistani |
March 31, 2012 |
|
Mr. Yahya Saleem |
Undetermined |
Pakistani |
April 05, 2012 |
|
Mr. Aftab Ahmed Khan |
Undetermined |
Pakistani |
March 31, 2012 |
|
Mr. Manzar Mushtaq |
Undetermined |
Pakistani |
March 31, 2012 |
|
Mrs. Farhat Saleem |
Undetermined |
Pakistani |
March 31, 2012 |
|
Mr. Shahid Malik |
Undetermined |
Pakistani |
June 16, 2013 |
|
Mr. Kamran Rasool |
Undetermined |
Pakistani |
June 16, 2013 |
|
Other share holder |
|
|
Name of Share holder |
Number of Shares |
|
Nishat Mills Limited |
24,764,652 |
|
D.G.Khan Cement Company Limited |
5,511,064 |
|
Mrs. Ayesha Shahzad |
180,643 |
|
Others |
105,282,434 |
|
Name |
Position in organization |
Qualification |
Years in
employment |
|
Mr. Shahzad Saleem |
Chief Executive/Chairman |
Not provided |
Not provided |
|
Mr. Umar Shahzad |
Company Secretary |
Not provided |
Not provided |
|
Mr. Saqib Riaz |
Head of Internal Audit |
Not provided |
Not provided |
|
Statutory offices |
|
|
Statutory Auditors |
M/s. Riaz Ahmed
& Co. Chartered Accountant |
|
Legal Advisory Services |
M/s. Imtiaz Siddique & Associates |
|
Bank name |
Approved
financing limits (Rs.) |
|
Allied Bank Limited |
1,892,000,000 |
|
The Bank of Punjab |
1,722,916,669 |
|
Dubai Islamic Bank (Pakistan) Limited |
560,000,000 |
|
United Bank Limited |
555,825,000 |
|
Soneri Bank Limited |
234,375,000 |
|
Pak Brunei Investment Company Limited |
200,000,000 |
|
Pak Kuwait Investment Company (Private) Limited |
138,888,896 |
|
Burj Bank Limited |
105,000,000 |
|
Saudi Pak Industrial and Agricultural Investment Company Limited |
68,584,390 |
|
SAMBA Bank Limited |
62,500,000 |
The prime focus of NCL is manufacturing and export of Textile products.
Purchases (Incl.
Imports)
|
Imports from |
Japan, UK, China, Germany, Europe, India, |
|
Importing terms |
LC basis. |
|
Local (%) |
80% |
|
Local buying terms |
30 days cash & credit basis. |
Sales (Incl.
Exports)
|
Exports to |
Italy, USA, UK, Bangladesh, Europe |
|
Exporting terms |
LC/DA basis. |
|
Local (%) |
32% |
|
Local selling terms |
30 days cash & credit basis. |
|
Nature of
employment |
Current Year |
Previous Year |
|
All Staff |
6,000 |
5,600 |
|
Total |
6,000 |
5,600 |
|
Registered office Address Owned / Rented Area (approx) |
31-Q, Gulberg II, Lahore, Pakistan Not Disclosed Undetermined |
|
Factory Address Owned / Rented Area (approx) |
Spinning 1, 4 & 5 49th
Kilometre, Multan Road, Bhai Pheru, Tehsil Chunian, District Kasur. Dyeing &
Printing 4th Kilometre, Manga Road, Raiwind. Spinning 2, 3 &
Weaving 49th Kilometre, Multan Road, Kamogal, Tehsil Pattoki,
District Kasur. Details not disclosed |
During the market check of NCL we contacted various suppliers
/customers / competitor of the subject company. In their opinion subject
company is a good player of the industry and enjoys a very good reputation in
the market. Market sources further mentioned that NCL belongs to ‘Nishat Chunian Group’ which is contains
two companies ‘M/s.Nishat Chunian
Limited’ and ‘Nishat Power Limited’
which is well known as profitable business in the industry.
|
Business Name |
City |
Line of Business |
Percentile of
Shareholding |
|
Nishat Mills Limited |
Lahore |
Textile |
13.61 |
|
D.G.Khan Cement Company Limited |
Lahore |
Cement |
3.03 |
NCL at a Glance
The foundations of Nishat Chunian Ltd. (NCL) were laid in the year 1990.
Since its inception as a single spinning unit, the company has expanded and
diversified into a manufacturing and finishing operation consisting of five
spinning units, one weaving unit, one dyeing & printing unit and one
stitching unit. Today, NCL operates with 150,000 spindles and 293 air jet looms
with a monthly production capacity of 7.5 million lbs of yarn and 4.0 million
yards of greige fabric. The dyeing & finishing unit has a capacity of 3.5
million yards per month supported by an equivalent stitching capacity. This
unparalleled growth has been achieved while remaining committed to cutting edge
technological innovation and uncompromising product quality.
Nishat Chunian Ltd. (NCL) is GOTS certified for the production of
100% Organic yarns, fabrics and finished made-ups, Oeko-Tex certified, Cotton
USA certified, Sedex Certified, Lycra Accredited, Supima Licensee, ISO
9001:2008 certified, BSCI , JC Penney, Kohl’s and CT-PAT compliant. NCL is
an active member of All Pakistan Textile Mills Association (APTMA), Lahore
Chamber of Commerce and Industry (LCCI) and All Pakistan Bedsheets and
Upholstery Manufacturers Association (APBUMA).
Nishat Chunian Ltd. (NCL) is listed on Karachi Stock Exchange (www.kse.com.pk)
and Lahore Stock Exchange (www.lse.com.pk).Spinning Profile
Nishat Chunian Limited has a Ring-spinning capacity of 150,000 spindles
producing 50,000 tons of greige yarn per annum. Our state of the art machinery,
technical expertise and careful selection of best available raw material result
in the finest quality of yarn. NCL has a wide range of brand loyal customers
all over the world which comes as a result of consistency in quality,
reliability and diversity of the yarns that we produce. We make yarns for
multiple end-uses including Denim, Apparel, Shirting, Home Textile and
Technical Fabrics. Our major markets include Hong Kong, Mainland China and
Europe. Our focus is to maintain consistent quality, on time delivery, after
sale service and prompt response to all customer needs.
Spinning Products
NCL covers a broad range of Ring-spun yarns from Ne 6/1 – 135/1 for
multiple end products & applications. We are a market leader in coarse
yarns including plain, Slub, Siro and Core-spun stretch yarns for denim and
bottom weight fabrics. Our fine Compact Yarns cater to high thread count
Sheeting and fine quality Shirting Fabrics. We also produce yarn for work wear,
technical fabrics, towels and knitted fabrics. Depending on count and customer
requirement, yarns are available in a wide range of local and imported cottons
including US Pima, Egyptian, CIS ELS, Australian, Indian, Brazilian & US
cottons. We are Supima® and Cotton USA® certified and
Lycra® accredited.
|
Yarn Type |
Count Range |
Composition |
End Use |
|
CARDED |
Ne 6/1 – 30/1 |
100% ring-spun cotton |
Denim, Upholstery, Work-wear, Apparel, Towels, Hosiery |
|
COMBED |
Ne 14/1 – 80/1 |
Pakistani, Australian, Extra-Long-Staple CIS, Brazilian, PIMA and
Egyptian Cottons |
Sheeting, Shirting, Circular Knitting, Bottom weight, Denim, Hosiery |
|
COMPACT |
Ne 40/1 – 135/1 |
100% Cotton using Supima, Egyptian Giza, CIS ELS, Australian, US
depending on |
High quality Shirting & high thread count Sheeting |
|
BLENDED |
Ne 14/1 – 80/1 |
Polyester, Nylon, X-static, Pearl, Tencel Lyocell, CoolMax, Seacell, Amicor,
Bamboo, Soyabean, Viscose-Rayon and Metallic Fibers are available blended
with Cotton. |
Work-wear, Sportswear, Active wear, Towels, Upholstery, Industrial
Fabrics |
|
SLUBS |
Ne 4.5/1 – 20/1 |
100% Cotton, Polyester-cotton in various blends |
Denim, Upholstery, Curtains, Sweaters, Hosiery |
|
SIRO |
Ne 7/1 – 10/1 Carded |
100% Cotton |
Denim and Apparel |
|
PLIED |
2, 3, and 4 ply |
Our entire count range is also available in 2, 3 and 4 ply,
auto-spliced and knotless |
Knitted as well as Woven Fabrics |
Spinning Machinery
The spinning facility consists of five mills with a capacity of 150,000
spindles producing 50,000 tons of yarn per annum. It includes 42,000 spindles
with compact attachments from Toyota and Sussen; 26,000 spindles producing
Amsler slub yarns and 14,000 spindles equipped with core-spun stretch yarn
attachments from Pinter. All mills are equipped with modern Japanese and
European machinery, which is regularly upgraded to make use of the latest available
technology. Each mill is specially designed to produce its specific count range
resulting in unmatched control over yarn quality.
|
|
NCL 1 |
NCL 2 |
NCL 3 |
NCL 4 |
NCL 5 |
|
Blow Room |
Trützschler |
Trützschler, Rieter |
Trützschler, Rieter |
Trützschler |
Trützschler |
|
Contamination Sorter |
Vetal, Loptex |
Vetal |
Vetal, Loptex |
Vetal, Loptex |
Vetal |
|
Card |
Trützschler DK 803, |
Rieter C 51 H, |
Rieter C 51 H |
Trützschler DK 803, |
Trützschler DK 803, |
|
Draw Frame |
Toyoda DX8-LT, |
Rieter RSB D 30C, Rieter |
Toyoda DX8 Trützschler |
Toyoda DYH 500 C, |
Howa DFK, Rieter RSB |
|
Comber |
- |
Rieter E 7/6,E 62 |
Rieter E 62 |
Rieter E 7/6, E 62 |
- |
|
Simplex |
Toyoda FL 100 |
Toyoda FL 100 |
Toyoda FL 100 |
Toyoda FL 16 |
Howa RME, Toyoda |
|
Ring Frame |
Toyoda RY 5,RY 4,EJM |
EJM 128 |
Toyoda RX 240 |
Toyoda RX-240, |
Howa UA 33F, EJM 128 |
|
Autoconer |
Murata 21 C, Savio |
Murata 21 C, Savio |
Savio Orion |
Murata 21 C, Savio |
Murata 21 C, Savio |
|
Twister |
- |
- |
- |
- |
Murata |
Weaving Profile
Established in 1998, the weaving department consists of 293 air jet
looms producing 3 million yards of greige fabric per month. With a combination
of state of the art weaving equipment, technical know-how and managerial
expertise, NCL Weaving has developed a reputation for quality service and
products worldwide.
Our in-house spinning helps maintain a better control over quality and
facilitates innovative product development, greater product flexibility and
shorter lead times. At NCL we cater to the demands of both the local and the
international markets. Apparel fabric is exported to the Far East , Europe and
North America , whereas the sheeting fabric is mainly exported to high-end US
and European buyers. In terms of sales, Nishat Chunian is one of the largest
Pakistani exporters of sheeting products to the US.
Weaving Products
|
Fabric Category |
Design |
Description |
Composition |
Count Range |
Width |
|
APPAREL |
Twills, Drills, |
Shirting fabrics with a weight range of 50-150 GSM and Bottoms with a
weight range of 200-270GSM.100% Cotton, blends of Cotton with Polyester,
Viscose, Linen, Nylon, Lycra, Elaspan and Spandex; Cotton Slub, PC Slub and
Slub lycra; Spun Poly and Poly Filament. |
100% Cotton, blends of Cotton with Polyester, Viscose, Linen, Nylon,
Lycra, Elaspan and Spandex; Cotton Slub, PC Slub and Slub lycra; Spun Poly
and Poly Filament. |
Shirting: Ne 40/1 – 130/1 |
72 Inches |
|
SHEETING & UPHOLSTERY |
Percales, Satins |
Sheeting fabrics of upto 1000 thread count with single ply yarn.
Upholstery fabrics made with plied yarns |
100% Cotton, blends of Cotton with Polyester, Cool Max, Nylon, Silver,
Cashmere, Carbon, Modal, Pearl, Tencel, Bamboo Fiber, Soyabean Fiber, Milk
Fiber and Amicor. |
Ne 40/1 – 130/1 |
141 Inches |
|
FANCY ITEMS |
Dobby Items |
Dobby fabrics made using up to 16 frames. |
100% Cotton and blends of Polyester and Cotton. |
Ne 20/1–Ne 80/1 |
128 Inches |
|
STRETCH |
One way and two way stretch fabrics |
Sheeting and apparel fabrics |
Cotton blended with lycra or spandex |
Ne 10/1 to Ne 60/1 |
- |
|
SLUB |
Warp slub, weft slub and cross hatch |
Upholstery and apparel fabrics |
100% cotton and PC slubs |
Ne 7/1 to Ne 40/1 |
- |
Weaving Machinery
The weaving mill consists of state of the art Picanol Omni Plus, Picanol
Omni Plus 800 and Toyota jet 710 Air jet in various widths ranging from 110 –
150 inches, providing greater flexibility in catering to customer needs. The
Sizing and Warping machinery is manufactured by the renowned European company
Benninger-Zell.
Highlights |
|
|
Warping |
Bendirect-1000-2400-GV/OPTOSTOP-1152 |
|
Sizing |
Ben-Sizetec ZB32 MWKVDMW CTA4/4/6 PW BBe |
|
Looms |
Picanol Omni Plus, Picanol Omni Plus 800 and Toyota jet 710 Air jet |
|
No. Of Looms |
293 |
|
Model |
2003-2010 |
|
Widths |
280cm, 340cm, 380cm |
|
Special Features |
Dobby Attachments, Batching Motions, 4 Color Insertion, Multiple Pick
insertion till 8PI. |
|
Compressor |
Atlas Copco, Cooper Air Compressor |
|
Air Conditioning |
Luwa, Air Plus |
Home Textiles Profile
The dyeing and printing plant has a capacity of 4.0 million yards per
month with an equivalent stitching capacity. These plants are equipped with
state of the art machinery specially designed to cater to high thread count
fabric.
During the dyeing, printing, finishing and stitching processes, several
measures are taken to ensure timely delivery of high quality fabric. This
includes special care in fabric handling, full width rail stitching, PVA based
size recovery, various devices to avoid creases and band mark variation,
special unwinding devices, efficient squeezers, a computerized dye dispensing
system and an on-line measurement and storage of data at every machine.
We have implemented a wide range MIS system that efficiently links all the
processes. This information system is installed to minimize idle machinery
time, increase productivity and reduce costs, affirming our position as a
leading and cost effective supplier.
Home Textiles
Products
The dyed and printed Sheeting range comprises of high density fabrics of
unmatched quality with widths up to 340 cm and yarn count range of Ne 20/1 –
100/1. This includes Percales up to 400 thread count and Sateens up to 1000
thread count. Other products in this range include fabrics with upto 6 pick
insertion, dobby fabric with intricate designs using 12-14 frames and fabrics
made using plied, slub and fancy yarns.
In addition to 100% cotton, a number of fibers in various blends are
used including Polyester, Viscose, Modal, Tencel, Bamboo, Soyabean, Milk Fiber,
Lycra, Cool Max, eVAP, Nylon, Amicor, and Pearl Fiber.
Dyes & Finishes
We offer a wide range of dyes and finishes which can be adapted in
accordance with customer requirements. The various dyeing options include
Pigment, Vat, Reactive and Disperse. In printing we have the option of doing
Pigment, Soft Pigment, and Reactive Prints.
Some of the various finishes we can do are Water Repellant, Soil and
Stain Resistant, Wrinkle Free, Anti-microbial, Fragrance, Bleach Resistant,
Ultra Soft Hand Feel, Anti-Dustmite and Fire Resistant.
Stitching Products
Bed Linen
Products in this category include Flat Sheets, Fitted Sheets,
Pillowcases, Pillow Shams, Dec Pillows, Bed Skirts, Duvet Covers and Comforter
Shells.
Curtains
The product range also includes 100% Cotton & Cotton Polyester
Blended Window and Shower Curtains. Some of the different styles that we offer
are Tab Top Curtains, Rod Pocket Curtains, Back Tab Curtains, Grommet Curtains
and Tie Backs.
Table Linen
We produce Table cloth, Table Runner, Napkins and Ruffles Round.
Home Textiles
Machinery
The dyeing and finishing plant is equipped with the latest machinery
from Kuesters and Monforts, market leaders in processing technology for wet and
dry processes respectively.
|
Highlights |
|
|
Singeing and Bleaching |
Kuesters |
|
Mercerizing |
Kuesters |
|
Pad Steam Range |
Kuesters |
|
Thermosol Range |
Monforts |
|
Stenter Range |
Monforts |
|
Printing Machine |
Reggiani |
|
Sanforizing Range |
Monforts |
|
Calender |
Kuesters |
NCL Shareholding
Structure
|
Shareholders |
Percentage |
|
Directors |
25.51 |
|
Nishat Mills Limited |
13.61 |
|
DG Khan Cement Company Limited |
3.02 |
|
Mutual Funds |
20.45 |
|
Banks, DFIs, NDFIs, Modarbas & Pension Fund |
10.44 |
|
Joint Stock Companies |
1.12 |
|
Others |
0.67 |
|
General Public |
25.18 |
|
Total |
100.00 |
|
Particulars |
30-Jun-13 |
30-Jun-12 |
% Change |
|
|
|
|
|
|
Current assets |
12,396,935,291 |
9,724,895,436 |
27.48 |
|
Current liabilities |
(9,703,454,116) |
(7,622,370,726) |
27.30 |
|
Working capital |
2,693,481,175 |
2,102,524,710 |
28.11 |
|
|
|
|
|
|
Non-current assets |
7,641,232,257 |
6,082,201,072 |
25.63 |
|
Long term liabilities |
(4,201,123,183) |
(3,985,589,955) |
5.41 |
|
Net worth |
6,133,590,249 |
4,199,135,827 |
46.07 |
|
|
|
|
|
|
Turnover |
21,213,244,304 |
18,616,942,561 |
13.95 |
|
Gross Profit |
3,595,566,904 |
2,076,797,343 |
73.13 |
|
EBIT |
3,774,183,070 |
2,247,418,498 |
67.93 |
|
Profit / (Loss) before tax |
2,530,921,404 |
893,973,127 |
183.11 |
|
Provision for taxation |
(254,760,294) |
(194,642,398) |
30.89 |
|
Profit / (Loss) after tax |
2,276,161,110 |
699,330,729 |
225.48 |
|
|
|
|
|
|
Creditors |
1,425,022,011 |
1,105,047,161 |
28.96 |
|
Debtors |
1,158,829,645 |
771,096,062 |
50.28 |
|
Cash & bank balances |
259,237,529 |
47,997,011 |
440.11 |
|
|
|
|
|
|
Growth trend |
|
|
|
|
Sales growth (%) |
13.95% |
|
|
|
Gross profit growth (%) |
73.13% |
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
Current ratio |
1.28 |
1.28 |
|
|
Quick ratio |
0.70 |
0.75 |
|
|
Total liabilities to net worth ratio (%) |
226.70 |
276.44 |
|
|
|
|
|
|
|
Profitability |
|
|
|
|
Return on sales (%) |
10.73 |
3.76 |
|
|
Return on net worth (%) |
37.11 |
16.65 |
|
|
Contact person |
Mr. Umar Shahzad |
|
Position |
Company Secretary |
|
Comments |
We made contact with the captioned person and he provided us
information and financials as well. |
|
Observations |
NCL is considered as one the best company in its line of business. The office is well built with all the necessary facilities. The group itself holds a very good reputation in the market. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.