The Pakistan Credit Rating Agency Limited
16-Sep-22
Analyst
Faiqa Qamar
faiqa.qamar@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Corporate Rating | Jun-22
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Jun-22
- Methodology | Rating Modifiers | Jun-22
Related Research
This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA
PACRA Withdraws Entity Ratings of Punjab Feeds Limited
| Rating Type | Entity | |
|
Current (16-Sep-22 ) |
Previous (16-Sep-21 ) |
|
| Action | Withdraw | Initial |
| Long Term | - | BBB |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | - |
Subsequent to the management's decision to discontinue the entity ratings of Punjab Feeds Limited.
PACRA withdraws the entity ratings with immediate effect.
About
the Entity
Punjab Feeds was incorporated in 1977 as a Public Unlisted Company. The Company is primarily engaged in two different types of feeds - poultry feed and cattle feed - for birds and livestock of different types and age groups. The Company's feed manufacturing facility is situated at 28-KM Lahore-Sheikhupura Road, Sheikhupura, with a production capacity of 45 MT per hour.
The Company is owned by the sponsoring family, through Olympia Assets (37%), Mr. Humayun Monnoo (26%), Mr. M. Shakil Monnoo (13%), Mr. M. Nasir Monnoo (8%), Mr. M. Zeeshan Monnoo (6%), Mr. M. Khurshid Monnoo (5%), Mr. Aurangzeb Monnoo (3%) and other individuals of Monoo family (1%). The Company's Board is Chaired by Mr. M. Khurshid Monnoo whereas, Mr. M. Nasir Monnoo heads the Company as the Chief Executive Officer. He is aided by a team of experienced professionals.