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Report No. : |
302650 |
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Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
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Name : |
EBRAHIM TEXTILE MILLS (PVT.) LIMITED |
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Registered Office : |
4th Floor, KDLB Buiding, 55-West Wharf Road, Karachi |
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Country : |
Pakistan |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
2010 |
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Com. Reg. No.: |
0073875 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The principal activity of the company is Processing and Stitching of
Fabric & Textile Related Products |
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No. of Employee : |
200 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
EBRAHIM TEXTILE
MILLS (PVT.) LIMITED
|
Registered
Address |
|
4th Floor, KDLB Buiding, 55-West Wharf Road, Karachi,
Pakistan |
|
Tel # |
92 (21) 32313356 |
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Fax # |
92 (21) 32204847 |
|
a. |
Nature of
Business |
The principal activity of the Company is processing and stitching of
Fabric & Textile Related Products |
|
b. |
Year Established |
2010 |
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c. |
Registration # |
0073875 |
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Mill is located at landhi industrial area of Karachi |
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Kreston Hyder Bhimji & Co. (Chartered
Accountants) Suite No. 1601, Kashif Centre, Shahrah-e-Faisal, Karachi, Pakistan |
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Subject Company was established as a Private Limited Company in 2010 |
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Authorised Capital |
Rs. 450,000,000/- |
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Issued & Paid up Capital |
Rs. 405,000,000/- |
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Names |
Designation |
|
Mr. Muhammad Iqbal Mr. Ahmed Ibrahim Mr. Muhammad Ismail Mr. Muhammad Rafiq |
Chief Executive Director Director Director |
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Names |
No. of Shares |
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Mr. Ahmed Ibrahim Miss. Mehmooda Mr. Mudasir Mr. Mohsin Mr. Muhammad Iqbal Mr. Muhammad Rafiq Miss. Afsheen Mr. Muhammad Ismail Miss. Zohra Mr. Amjad Miss. Zeenat Miss. Amna Miss. Anum Mr. A. Karim Miss. Saira Mr. Arshad Miss. Saima |
5,850,000 650,000 1,250,000 1,250,000 2,777,501 6,850,000 6,222,499 4,600,000 750,000 1,400,000 3,030,000 1,100,000 1,100,000 2,200,000 370,000 730,000 370,000 |
A. Subsidiary
None
B. Associated Companies
(1) Sattar (Pvt) Limited, Pakistan.
(2) Dhabeji Salt
Works Pvt Ltd, Pakistan.
(3) Farooqi Food Industries, Pakistan.
(4) Gul Agencies Pvt Ltd, Pakistan.
(5) Haji Karim Haji Mohammad, Pakistan.
(6) Iqbal Textile Mills Ltd, Pakistan.
(7) Imran Crown Cork Pvt Ltd, Pakistan.
(8) Muslim Cotton Mills Ltd, Pakistan.
(9) Pakistan Dairy Products Ltd, Pakistan.
(10) Zaman Textile Mills Ltd, Pakistan.
(11) Al-Karam Textiles (Pvt) Limited, Pakistan.
(12) Zaman Textile Mills Ltd, Pakistan.
(13) Thermo King Pvt Ltd, Pakistan.
(14) Orient Textile Mills Limited, Pakistan.
Subject Company is engaged in processing & stitching of fabric &
textile related products.
Its mainly import Textile Raw Materials, Textile Machineries through L/C, D/P basis.
Its main products are Fabric & Textile Related Products.
It sells its product through L/C,
D/P basis.
Its main customers are reputable companies, domestically &
worldwide.
Subject operates from caption leased office & factory premises
situated at commercial & industrial area of Karachi.
Subject employs more than 200
persons in its set up.
|
Year |
In Pak Rupees |
|
2013 |
479,174,000/- |
|
Annual production volume is indeterminable as its mainly depends upon the
demand / requirements from their domestic as well as international customers |
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Mainly Textile Manufacturers, Private Companies, Buying Agencies etc |
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(1) United Bank Limited, Pakistan. (2) Bank Al-Habib Limited, Pakistan. (3) MCB Bank Limited, Pakistan. (4) Bank Al-Habib Limited, Pakistan. (5) Soneri Bank Limited, Pakistan. (Total Mortgage obtained PKR 5,435,663,333/-) |
Karachi Chamber of Commerce & Industry.(KCCI)
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 100.75 |
|
UK Pound |
1 |
Rs. 152.00 |
|
Euro |
1 |
Rs. 118.75 |
Subject Company was established in 2010 and is engaged in processing and
stitching of Fabric & Textile Related Products. Market reputation is
satisfactory. 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.61.76 |
|
|
1 |
Rs.94.02 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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.