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MIRA
INFORM REPORT
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Report No. : |
502722 |
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Report Date : |
17.04.2018 |
IDENTIFICATION DETAILS
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Name : |
ROSHAN PACKAGES LIMITED |
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Registered Office : |
325 G-III, M. A Johar Town, Lahore |
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Country : |
Pakistan |
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Financials (as on) : |
30.06.2017 |
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Date of Incorporation : |
13.08.2002 |
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Com. Reg. No.: |
0044226 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Largest manufacturers and sellers of packaging products in
Pakistan, meeting not only high quality packaging requirement for the
exporters of fruit and vegetables, but also supplying packaging solutions to
different large multinational and local corporations, nationwide. |
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No. of Employees : |
493 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 1,768,734 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow and delayed |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Pakistan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
PAKISTAN - ECONOMIC OVERVIEW
Decades of internal political disputes and low levels of foreign investment have led to underdevelopment in Pakistan. Pakistan has a large English-speaking population. A challenging security environment, electricity shortages, and a burdensome investment climate have deterred investors. Agriculture accounts for one-fifth of output and two-fifths of employment. Textiles and apparel account for more than half of Pakistan's export earnings; Pakistan's failure to diversify its exports has left the country vulnerable to shifts in world demand. Pakistan’s GDP growth has gradually increased since 2012. Official unemployment was 6% in 2017, but this fails to capture the true picture, because much of the economy is informal and underemployment remains high. Human development continues to lag behind most of the region.
In 2013, Pakistan embarked on a $6.3 billion IMF Extended Fund Facility, which focused on reducing energy shortages, stabilizing public finances, increasing revenue collection, and improving its balance of payments position. The program concluded in September 2016. Although Pakistan missed several structural reform criteria, it restored macroeconomic stability, improved its credit rating, and boosted growth. The Pakistani rupee, after heavy depreciation in 2013, remained relatively stable against the US dollar in 2015-17. Balance of payments concerns have reemerged, however, as a result of increased imports and declining remittances.
Pakistan must continue to address several longstanding issues, including expanding investment in education and healthcare, adapting to the effects of climate change and natural disasters, improving the country’s business environment, reducing dependence on foreign donors, and widening the country’s tax base. Given demographic challenges, Pakistan’s leadership will be pressed to implement economic reforms, promote further development of the energy sector, and attract foreign investment to support sufficient economic growth necessary to employ its growing and rapidly urbanizing population, much of which is under the age of 25.
In an effort to boost development, Pakistan and China are implementing the “China-Pakistan Economic Corridor,” with $60 billion in investments targeted towards energy and other infrastructure projects. Pakistan believes CPEC investments will enable growth rates of over 6% of GDP by laying the groundwork for increased exports. CPEC-related obligations, however, have raised IMF concern that capital outflows that will begin to increase in 2020.
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Source
: CIA |
Company name
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Business
Name |
ROSHAN PACKAGES LIMITED |
Full Address
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Registered
Address |
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325 G-III, M. A Johar Town, Lahore, Pakistan |
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Tel # |
92 (42) 35290734, 35290735, 35290736,
35290737 |
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Fax # |
92 (42) 35290738 |
Short Description Of Business
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a. |
Nature of Business |
Largest manufacturers and sellers of
packaging products in Pakistan, meeting not only high quality packaging
requirement for the exporters of fruit and vegetables, but also supplying
packaging solutions to different large multinational and local corporations,
nationwide. |
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b. |
Year Established |
13th August, 2002 |
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c. |
Registration # |
0044226 |
Plants Location
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The corrugated plant is located at 7 KM,
Sunder-Raiwind Road, Opp. Gate 1, Sunder-Industrial Estate and the flexible
plant at Plot No. 141, 142 Sunder-Industrial Estate, and are spread over
areas of 9 acres and 7.7 acres, respectively. |
Auditors
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A.F. Ferguson & Co. (Chartered Accountants) |
Legal Status
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Subject
Company was established as a Private Limited Company on 13th August, 2002. Roshan
Packages was later converted to a public limited company effective September
23rd, 2016. |
Details of Chief Executive / Directors
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Names |
Designation |
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Mr. Khalid Eijaz Qureshi Mr. Tayyab Aijaz Mr. Saadat Aijaz Mr. Asad Ali Khan Mr. Quasim Aijaz Mr. Zaki Aijaz Mr. Muhammad Naveed Tariq |
Chairman Chief
Executive Director Director Director Director Director |
Shareholders
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Names
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No. of Shares |
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List of shareholders are attached in
separate file in PDF format |
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Associated Companies
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(1)
Urdu Digest, Pakistan. (2)
Roshan Enterprises, Pakistan. (3)
Roshan Sun Tao Paper Mills (Pvt) Limited, Pakistan.(Subsidiary Company) |
Business Activities
Subject Company are largest manufacturers and sellers of packaging products in Pakistan, meeting not only high quality packaging requirement for the exporters of fruit and vegetables, but also supplying packaging solutions to different large multinational and local corporations, nationwide.
It purchases raw materials against L/C, D/P basis to its trade suppliers globally.
It sells its products against cash term basis to its domestic customers.
Subject import globally from Companies belongs to U.S.A., Brazil, South Africa, Saudi Arabia, Qatar, Germany, France, Italy, Russia, Sweden, China, Singapore, and Egypt.
Its major customers are Food & Beverage Manufacturers, Textile Manufacturers, Industrial Organizations, Multinational Companies etc.
Subject operates from caption leased factory premises situated at industrial area of Karachi.
Subject Company have work force of more than 493 employees including (permanent and contractual).
Annual Sales Volume
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Years |
In Pak Rupees |
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2016 2017 |
3,621,881,861/- 4,098,007,176/- |
Trade Suppliers (Foreign)
Subject import globally from Companies belongs to U.S.A., Brazil, South Africa, Saudi Arabia, Qatar, Germany, France, Italy, Russia, Sweden, China, Singapore, and Egypt
Capacity & Production
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Roshan Packages undertook a large expansion in its flexible packaging capabilities during 2016 and increased installed capacity from 3,600 metric tons to 10,800 metric tons by installing an 8 Color Rotogravure and a 5 layer extrusion machine from German based WindMoller & Holscher. Both machines have begun operations, while the Company has placed an order for a Wax Coating machine and a Lamination machine to further expand capacity to 12,240 metric tons by fourth quarter of FY 2017. The Company has also purchased an advanced corrugator from German based BHS Corrugated that will increase its corrugation capacity from 30,000 metric tons to 60,000 metric tons during FY 2017. The machine has arrived and is expected to be operational by fourth quarter of FY 2017. |
Bankers
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(1)
Askari Bank Limited, Pakistan. (2)
Albaraka Bank Pakistan Limited, Pakistan. (3)
Allied Bank Limited, Pakistan. (4)
Bank Alfalah Limited, Pakistan. (5)
Dubai Islamic Bank Pakistan Limited. (6)
Faysal Bank Limited, Pakistan. (7)
Habib Bank Limited, Pakistan. (8)
Habib Metropolitan Bank Limited, Pakistan. (9)
MCB Bank Limited, Pakistan. (10)
Meezan Bank Limited, Pakistan. |
Memberships
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KCCI
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FPCCI
Comments
Subject Company was established in 13th August, 2002 and is a largest manufacturers and
sellers of packaging products in Pakistan. Overall 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.45 |
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1 |
INR 93.28 |
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Euro |
1 |
INR 80.74 |
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PKR |
1 |
INR 0.57 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
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Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.