MIRA INFORM REPORT

Report Date :

16.12.2014

IDENTIFICATION DETAILS

Name :	KOHINOOR SOAP & DETERGENTS (PVT) LIMITED

Registered Office :	1st Floor, Tibet Centre, M.A. Jinnah Road, Karachi

Country :	Pakistan

Financials (as on) :	30.06.2014

Year of Establishments :	1973

Com. Reg. No.:	0004276

Legal Form :	Private Limited Company

Line of Business :	Engaged in manufacturing & marketing of Soaps & Detergents bearing the brand names *“TIBET”& “KOHINOOR”*

No of Employees :	344

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 :	Slow but Correct
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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	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 was 6.6% in 2013, 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. 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 the following two years, 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 3.5% per year from 2008 to 2013. 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

Business Name

KOHINOOR SOAP & DETERGENTS (PVT) LIMITED

Full Address

Registered Address

1st Floor, Tibet Centre, M.A. Jinnah Road, Karachi, Pakistan

Tel #	92 (21) 32775880 - 87 (8 Lines)
Fax #	92 (21) 32720978
Email	kbm@khi.wol.net.pk

Short Description Of Business

a.	Nature of Business	Engaged in manufacturing & marketing of Soaps & Detergents bearing the brand names *“TIBET”& “KOHINOOR”*
b.	Year Established	1973
c.	Registration #	0004276

Factory Location

F-70/A, S.I.T.E., Karachi,

Pakistan

Auditors

Rao & Company

(Chartered Accountants)

41, Karachi Chambers, Hasrat Mohani Road, Karachi, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1973

Authorized Capital	Rs. 10,000,000/- divided into 100,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 9,941,200/- divided into 99,412 shares of Rs. 100/- each

Details of Directors

Names

Designation

Mr. Aslam Usman Allawala

Mr. S.M. Iqbal Allawala

Mr. S.M. Naseem Allawala

Mr. Saeed Allawala

Mrs. Akhtarun Nisa

Mrs. Gulzar Begum

Mrs. Asifa Anees

Chief Executive

Director

Shareholders

Names

No. of Shares

Mrs. Akhtarun Nisa

Mr. Aslam Usman Allawala

Mr. Saeed Allawala

Mrs. Gulzar Begum

Mrs. Razia Noor Ahmed

Mrs. Shaista Haroon

Mr. S.M. Salman Ilyas Allawala

Mr. S.M. Yousuf Ilyas Allawala

Mr. S.M. Idrees Allawala

Mrs. Naseema Begum

Mr. S.M. Mansoor Allawala

Ms. Anjum Idrees

Mr. Kamran Idrees

Mr. Imran Idrees

Mr. Naeem Idrees

Mr. S.M. Iqbal Allawala

Mrs. Rehana Iqbal

Mr. Zafar Iqbal

Ms. Saadia Iqbal

Ms. Farah Iqbal

Mr. S.M. Naseem Allawala

Mrs. Sultana Naseem

Mrs. Seema Khalid

Mrs. Saba Sohail

Mrs. Asifa Anees

Mr. Shakil Anees

Mrs. Faraz Ahmad

12,106

12,099

4,853

2,176

3,265

500

2,000

1,000

1,088

4,897

2,721

1,088

10,618

3,809

4,135

8,053

4,135

Associates

A. Subsidiary

None

B. Associated Companies

(1) A.C.T. Industries (Pvt) Limited, Pakistan.

(2) Allawala Brothers (Pvt) Limited, Pakistan.

(3) Allied Batteries (Pvt) Limited, Pakistan.

(4) ATCO Laboratories Limited, Pakistan.

(5) Atco Pharma International (Pvt) Limited, Pakistan.

(6) Delycia of London (Pvt) Limited, Pakistan.

(7) English Soap & Cosmetics (Pvt) Limited, Pakistan.

(8) Flora Consumer Products (Pvt) Limited, Pakistan.

(9) Kohinoor Battery Manufacturers (Pvt) Limited, Pakistan.

(10) Kohinoor Containers (Pvt) Limited, Pakistan.

(11) Kohinoor Chemical Company (Pvt) Limited, Pakistan.

(12) Kohinoor Household Products (Pvt) Limited, Pakistan.

Business Activities

Engaged in manufacturing & marketing of Soaps & Detergents bearing the brand names “TIBET”& “KOHINOOR”

Number of Employees

344

Annual Production Volume

The capacity and production of the Company’s plant is indeterminable as it mainly depend upon the demand / requirements from their domestic customers

Annual Sales Volume

Years

In Pak Rupees

2013

2014

4,070,077,256/-

4,593,424,640/-

Trade Suppliers

(Foreign)

Subject mainly import from Companies belongs to China, Korea, Singapore, Malaysia, Taiwan & European Countries

Distributors

Mainly Distribution Companies, Buying Agencies, International Buyers

Bankers

(1) Habib Bank Limited, Pakistan.

(2) Bank Alfalah Limited, Pakistan.

(3) Habib Metropolitan Bank Limited, Pakistan.

(4) Soneri Bank Limited, Pakistan.

(5) Allied Bank Limited, Pakistan.

(6) United Bank Limited, Pakistan.

Memberships

· Federation Pakistan Chamber of Commerce & Industry.

· Karachi Chamber of Commerce & Industry.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 101.30
UK Pound	1	Rs. 158.25
Euro	1	Rs. 125.10

Comments

Subject Company was established in 1973 and is engaged in manufacture & marketing of Soap & Detergents. Market reputation is satisfactory. 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.62.65
UK Pound	1	Rs.98.53
Euro	1	Rs.78.02

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	MNL

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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