PACRA Maintains Entity Ratings of Jadeed Feeds Industries (Pvt.)Limited

The assigned ratings reflect the strong integration of Jadeed Feeds Industries (Private) Limited within the Jadeed Group, a premier, vertically integrated leader in Pakistan’s poultry value chain. As the Group’s flagship and primary revenue-generating entity, Jadeed Feeds maintains the most significant presence within the Group’s overall operations. The Group sustains a robust market presence through its strategic subsidiaries, including Jadeed Oil Extraction (Pvt.) Ltd and Jadeed Developers (Pvt.) Ltd, which drive critical operational synergies and bolster long-term commercial stability. The Company continues to demonstrate stable operational performance and maintains a strong position in the feed industry through its core operations across poultry feed production, breeder stock, and day-old chicks, backed by an experienced and professionally qualified management team that ensures effective strategic direction and operational control. While the poultry feed sector remains exposed to foreign exchange rate volatility and global commodity price fluctuations due to its reliance on imported soybean meal, this is effectively hedged by the use of locally sourced maize and various meals. Over the three-year period, the Company recorded an average revenue growth of 16.6%, reflecting consistent expansion and strengthening market positioning. Though topline during FY25 experienced a slight decline and was reported at PKR 82,322mln, amid competitive pressures. However, performance remains resilient, with the September quarter reporting revenue of PKR 21,878mln. The Company's topline is dominated by poultry feed sales (~45%) followed by poultry breeder stock (~48%) and day-old chick sales (~7%). Despite sectoral challenges, the Company maintained effective cost discipline and reported a net profit of PKR 3,173mln in FY25 and PKR 1,357mln during September 2025. Financial health is further supported by a significant decline in finance costs to PKR 955mln, driven by improved borrowing rates. Additionally, coverage ratios and capital structure remained stable and adequate. As of June-25, debt profile remained moderately leveraged with total leveraging standing at 51.2%, and short-term borrowings comprising approximately 86% of total debt. The continued support of sponsors and a stable ownership structure provide additional comfort to the assigned ratings.
The ratings are dependent on the Company’s ability to sustain margins, manage working capital efficiently, and maintain adequate coverage ratios. Any significant deterioration in leverage indicators may have a negative impact on the ratings.

About the Entity
Jadeed Feeds Industries (Pvt.) Limited was incorporated in June 2008 as a private limited company. The Company operates feed mills with a combined capacity of 240 MT per hour. Breeding farms, located across Pakistan, are fully utilized have a utilization capacity of ~67%. The Company's GP hatcheries, located in Kot Momin, have a utilization level of ~51% during FY25, while PS hatcheries reported a utilization level of ~57% in FY25. The Company is owned by the family of late Mr. Jan Mohammad Javaid. Major shareholding resides with Mr. Muhammad Sohaib Javaid and Mr. Muhammad Safwan Javaid (~31% each), while the remaining stake is held by Mr. Jan Mohammad Javaid's daughters, Ms. Maimoona Javaid and Ms. Fariha Javaid (~12% each) and his wife, Mrs. Shazia Javaid (~15%). The Chairman and CEO, Mr. Sohaib Javaid, plays a pivotal role in strategic decision-making and operational oversight.