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Report No. : |
320354 |
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Report Date : |
05.05.2015 |
IDENTIFICATION DETAILS
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Name : |
GRAND PARENT POULTRY (PVT) LIMITED |
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|
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Registered Office : |
2-A, Ahmed Block, New Garden Town, Lahore |
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Country : |
Pakistan |
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|
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
0020788 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The Principal activity of the Company is Operating
Modern Poultry Breeding Farms and Hatcheries. |
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No. of Employees : |
440 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Pakistan |
B1 |
B1 |
|
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-fourth of output and two-fifths of
employment. Textiles account for most of Pakistan's export earnings, and
Pakistan's failure to diversify its exports has left the country vulnerable to
shifts in world demand. Official unemployment was 6.9% in 2014, but this fails
to capture the true picture, because much of the economy is informal and underemployment
remains high. Pakistan’s human development continues to lag behind most of the
region.. As a result of political and macroeconomic instability, the Pakistani
rupee has depreciated more than 40% since 2007. The government agreed to an
International Monetary Fund Standby Arrangement in November 2008 to preventa
balance of payments crisis, but the IMF ended the Arrangement early because of
Pakistan’s failure to implement required reforms. The economy has stabilized,
it continues to underperform and foreign investment has not returned to levels
seen during themid-2000’s, due to investor concerns related to governance,
electricity shortages, , and a slow-down in the global economy. Remittances
from overseas workers, averaging more than$1 billion a month, remain a bright
spot for Pakistan. After a small current account surplus in fiscal year 2011
(July 2010/June 2011), Pakistan's current account turned to a deficit where it
remained through 2014, spurred by higher prices for imported oil and lower prices
for exported cotton. In September 2013, after facing balance of payments
concerns, Pakistan entered into a three-year, $6.7 billion IMF Extended Fund
Facility. The Sharif government has since made modest progress implementing
fiscal and energy reforms, and in December 2014 the IMF described Pakistan’s
progress as “broadly on track.” Pakistan remains stuck in a low-income,
low-growth trap, with growth averaging about 3.5% per year from 2008 to 2014.
Pakistan must address long standing issues related to government revenues and
the electricity and natural gas sectorsin 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 |
GRAND PARENT POULTRY (PVT) LIMITED
|
Registered
Address |
|
2-A, Ahmed Block, New Garden Town, Lahore, Pakistan |
|
Tel # |
92 (42)
111-111-220, 35835374, 35835373, 35837512, 35837514 |
|
Fax # |
92 (42) 35835371 |
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Email |
|
a. |
Nature of Business |
The Principal activity of the Company is
operating modern poultry breeding farms and hatcheries |
|
b. |
Year Established |
1989 |
|
c. |
Registration # |
0020788 |
Factory is located at industrial estate of Lahore
|
Abdul Khaliq & Co. (Chartered Accountants) |
|
Subject Company was established as a Private Limited Company in 1989 |
|
Authorized Capital |
Rs. 200,000,000/- divided into 20,000,000
shares of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 170,100,000/- divided into 17,010,000
shares of Rs. 10/- each |
|
Names |
Designation |
|
Dr. M. Mustafa Kamal Dr. Abdul Kareem Dr. Muhammad Yaqoob Bhatti Mr. Abdul Basit Mr. Abdul Qayyum Mr. M. Shahid Shafi Mrs. Sadia Kareem Mr. Salman Basit |
Chief Executive Director Director Director Director Director Director Director |
|
Names |
No. of Shares |
|
Dr. M. Mustafa Kamal Dr. Abdul Kareem Mr. Abdul Basit Mrs. Sadia Kareem Mr. Salman Basit Mr. Abdul Qayyum Mr. M. Shahid Shafi Mr. Muhammad Yaqoob Mr. Haroon Shahid Mrs. Nusrat Basit |
5,726,168 5,709,401 5,284,619 11,000 122,812 1,000 21,000 16,000 116,000 2,000 |
A. Subsidiary
None
B. Associated
Companies
|
(1) Big Bird Poultry Breeders (Pvt)
Limited, Pakistan. (2) Big Bird, Pakistan. (3) Pak Tek Associates, Pakistan (4) Darson Securities (Pvt) Limited, Pakistan. |
The Principal activity of the Company is
operating modern poultry breeding farms and hatcheries
440
|
Annual production volume
is indeterminable as it mainly depends upon the requirement / demand from
their domestic customers |
13. Annual
Sales Volume
|
Years |
In Pak Rupees |
|
2012 2013 |
1,598,178,704/- 1,388,485,453/- |
Subject mainly import from Companies belongs to Korea, India, Jordan,
Taiwan, China, European
Countries & Japan
|
Mainly exist at major cities of Pakistan |
|
(1) Allied Bank
Limited, Pakistan. (2) National Bank of Pakistan. (3) Habib Bank
Limited, Pakistan. (4) MCB Bank Limited,
Pakistan. (5) Meezan Bank
Limited, Pakistan. (Total Mortgage obtained PKR: 1,681,330,000/-) |
Sound
Lahore Chamber of Commerce & Industry.
Pakistan Poultry Association.
Federation Pakistan Chamber of Commerce &
Industry.
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 102.50 |
|
UK Pound |
1 |
Rs. 157.25 |
|
Euro |
1 |
Rs. 113.00 |
Big-Bird Group enjoys good reputation in
Pakistan. Group directors are reported as qualified, resourceful &
experienced businessmen. Group’s financial position is sound. Group can be considered
for moderate business engagements at usual trade terms and condition.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
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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.