PACRA maintains the rating of Engro Polymer and Chemicals Limited – Sukuk – Jan 19

Lahore, July 18, 2022 (PPI-OT): Engro Polymer and Chemicals Limited (“EPCL” or “The Company”) ratings reflect an established foothold in the manufacturing of Poly Vinyl Chloride (PVC) resin, and Chlor Alkali products (Caustic Soda, Sodium Hypochlorite, and HCL). EPCL is the sole manufacturer of PVC resin in the domestic market. During 1HCY21, EPCL successfully completed…

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PACRA Maintains Entity Ratings of Nimir Resins Limited

Lahore, July 18, 2022 (PPI-OT): The ratings reflect Nimir Resins Limited’s (“NRL” or “The Company”) solid business profile. Established as a listed entity, a well-devised governance framework is in place along with a skilled and experienced management team and modern production facilities. The Company has primarily three production lines, catering to different industries of the…

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PACRA Maintains Entity Ratings of NIMIR Industrial Chemicals Limited

Lahore, July 18, 2022 (PPI-OT): The ratings reflect that Nimir Industrial Chemicals Limited (hereinafter referred to as ‘ NICL or ‘ the Company’) demonstrated consistent growth and a strong position in the domestic oleo chemicals and chlor alkali products manufacturing industry. Under the Caustic soda market there exist competition to which it stands buoyant. The…

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PACRA upgrades Entity Ratings of Engro Polymer and Chemicals Limited

Lahore, July 18, 2022 (PPI-OT): Engro Polymer and Chemicals Limited (“EPCL” or “The Company”) ratings reflect an established foothold in the manufacturing of Poly Vinyl Chloride (PVC) resin, and Chlor Alkali products (Caustic Soda, Sodium Hypochlorite, and Hydrochloric Acid). EPCL is the sole manufacturer of PVC resin in domestic market. During 1HCY21, EPCL successfully completed…

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PACRA Assigns Initial Rating to Diamond Fabrics Limited

Lahore, July 18, 2022 (PPI-OT): The ratings of Diamond Fabrics Limited reflect the Company’s strong business profile emanating from its presence in the broader value chain in the international market; enabling the Company to fare better against volatility. The Company has a presence with four divisions (i) Spinning, (ii) Weaving iii) Denim iv) Apparel. In…

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PACRA Maintains Entity Ratings of Jamal Pipe Industries (Private) Limited

Lahore, July 18, 2022 (PPI-OT): Jamal Pipes Industries (Pvt.) Limited, a family operated business, is engaged in manufacturing of pipes and allied products for four decades. The Company’s product slate includes black line pipes, galvanized line pipes, variety of poles (octaconical poles, tubular poles and street light poles) and guardrails. Around 47% is contribution from…

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PACRA Assigns Preliminary Rating to BankIslami Pakistan Limited – Modaraba Sukuk – Additional Tier 1 – TBI

Lahore, July 18, 2022 (PPI-OT): Assigned ratings incorporate BIPL’s good capitalization, sustained market share (both in terms of advances as well as deposits). The Bank’s net profitability enhanced attributable to reversal of provision whilst there was decline in net markup income due to the attrition in markup earned. The Bank was able to achieve good…

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PACRA Maintains Entity Ratings of First Women Bank Limited – RW and Developing Outlook

Lahore, June 28, 2022 (PPI-OT): The ratings reflect the association of FWBL with the Government of Pakistan (GoP) – the major shareholder. The Bank received various capital injections from the Ministry of Finance (MoF), latest in CY17, mainly to comply with minimum capital requirements. The bank has not been able to publish its financial statements…

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