MIRA INFORM REPORT

Report No. :	342261
Report Date :	25.09.2015

IDENTIFICATION DETAILS

Name :	M. R. INDUSTRIES

Registered Office :	F-418, S.I.T.E., Karachi

Country :	Pakistan

Date of Incorporation :	2002

Legal Form :	Partnership

Line of Business :	Engaged in Manufacture, Marketing & Export of Knitted Garments

No. of Employees :	80

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 :	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, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

M. R. INDUSTRIES

Full Address

Registered Address

F-418, S.I.T.E., Karachi, Pakistan

Tel #

92 (21) 32576506, 32579361

Fax #

92 (21) 32575979

Email

mrindpkexp@cyber.net.pk,

mrind@cyber.net.pk

Short Description Of Business

a.	Nature of Business	Engaged in manufacture, marketing & export of Knitted Garments
b.	Year Established	2002

Branches

None

Legal Status

Subject Company was established as a Partnership business in 2002

Details of Management

Names

Nationality

Address

Occupation

Designation

Mr. Abdul Razzak Lakhani

Mr. Mohammad Hussain

Pakistani

F-418, S.I.T.E., Karachi

Business

Managing Partner

Partner

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Business Activities

(1) Subject Company is engaged in manufacture, marketing & export of Knitted Garments.

(2) Its imports garment raw materials against L/C, D/P basis to its trade suppliers globally.

(3) Its exporting countries are European & Far East Countries.

(4) Its import globally from Companies belongs to China, India, Korea, Taiwan & European Countries.

(5) Its major customers are Distribution Companies, Buying Agencies, International Buyers etc.

(6) Subject operates from caption leased office & factory premises situated at industrial area of Karachi.

(7) Subject employs about 80 persons in its set up.

Annual Production Volume

Annual production volume is indeterminable as its mainly depends upon the demand / requirements from their domestic as well as international customers

Annual Sales Volume

Year	In Pak Rupees
2014	100,000,000/- (Estimated)

Trade Suppliers (Foreign)

Subject import globally from Companies belongs to China, India, Korea, Taiwan & European Countries

Bankers

Habib Metropolitan Bank Limited, Pakistan.

Bank Alfalah Limited, Pakistan.

Soneri Bank Limited, Pakistan.

Meezan Bank Limited, Pakistan.

Bank Al-Habib Limited, Pakistan.

Memberships

Karachi Chamber of Commerce & Industry.(KCCI)

Pakistan Hosiery Manufacturers Association.(PHMA)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 104.20
UK Pound	1	Rs. 159.35
Euro	1	Rs. 115.85

Comments

Subject Company was established in 2002 and is engaged in manufacture,

marketing & export of Knitted Garments. Overall reputation is normal. 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.66.10
UK Pound	1	Rs.100.89
Euro	1	Rs.73.96

INFORMATION DETAILS

Analysis Done by :	DIV

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
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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