Lahore, September 13, 2021 (PPI-OT): NIT Money Market Fund (or the ‘Fund’) is a low-risk profile fund. The assigned rating of the Fund reflects its good credit quality and its sound liquidity profile, which emanate primarily from its mandate to invest in government securities and other low-duration avenues such as bank placement and ensuring low exposure to interest rate risk.
As per the authorized investRead More…
Lahore, September 13, 2021 (PPI-OT): NIT Islamic Income Fund (or the ‘Fund’) is a medium-risk profile fund. The rating reflects the risk profile of the Fund with considerable holding of cash and bank balances which reinforce the liquidity profile. The Fund aims to maintain a diversified portfolio to generate superior risk-adjusted returns and would invest in various instruments of varying maturities depenRead More…
Lahore, September 13, 2021 (PPI-OT): NIT Income Fund (or the ‘Fund’) is a medium-risk profile fund. The assigned rating reflects its competitive stream of returns with a moderate level of risk. As per the investment policy, the Fund shall keep at least 25% of assets in cash or near cash instruments, which enhances the liquidity profile. The weighted average to maturity of net assets is capped at 4 years wRead More…
Lahore, September 13, 2021 (PPI-OT): Harappa Solar Private Limited an 18MWp Solar Power Plant – incorporated in September 2014, operates under the Renewable Energy Policy 2006. The Company opted for the upfront Tariff. Under the upfront Tariff regime, any variability in solar energy is to be borne by the Company, due to which its cash flows may face seasonality. The ratings, take into account sound profile of sRead More…
Lahore, September 13, 2021 (PPI-OT): NIT Government Bond Fund (or the ‘Fund’) is a low-risk profile fund. NIT Government Bond Fund aims to invest primarily in Government Securities. In line with its stated investment policy, the fund shall invest at least 70% of net assets in securities issued by GOP and reverse repo in securities issued by GOP. It will also place Fund’s allocations with banks havinRead More…
Lahore, August 24, 2021 (PPI-OT): The ratings reflect the small yet adequate business profile of Khas Textile Mills (Pvt.) Limited emanating from a relatively small revenue base and profitability. The Company manufactures various types of the cotton ring and open-end yarn. The Company is associated with Khas Group of Industries where the group has presence in diverse sectors; including textile, aluminium, poultry, soRead More…
Lahore, August 24, 2021 (PPI-OT): Pakistan’s sugar industry is the country’s 2nd largest agro-based industry, comprising 90 mills with an annual crushing capacity estimated ~ 65 – 70mln MT. The industry is trying to overcome the supply challenges. However, support price, set by considering the cost incurred by farmers, remains a constraint. During MY21, the overall sugar production increased by 15%, YoYRead More…
Lahore, August 24, 2021 (PPI-OT): The ratings demonstrate Tufail Chemical Industries Limited’s (the Company) leading position in domestic manufacturing of surfactants (key raw material for detergent and shampoo industry), strong customer base – mainly MNC’s – stable margins and generation of persistent profitability. After series of expansions combine capacity of LABSA has now reached up to 100,000 meRead More…
Lahore, August 24, 2021 (PPI-OT): The ratings reflect sustained performance metrics of the company. Amid COVID-19 Pandemic despite unfavourable circumstances company has maintained stability in its turnover as reflected in the published financial statements for FY20 as well as 3QFY21. Business risk profile draws support from growing demand for electricity and continuous improvement across various operational metrics;Read More…
Lahore, August 23, 2021 (PPI-OT): The ratings reflect adequate profile of Awan Trading Company (the Company) characterized by stable market share in imported coal, especially retail market. The Company imports its raw material, where currency fluctuations and pricing risk effect margins. The management intends to pass on the impact onto customers, though demand sensitivity is a consideration. Major demand vests in thRead More…