The Pakistan Credit Rating Agency Limited
21-May-26
Analyst
Muhammad Azmat Shaheen
azmat.shaheen@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Corporate Rating | Jul-25
- Methodology | Debt Instrument Rating | Sep-25
- Methodology | Rating Modifiers | Apr-26
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Apr-26
Related Research
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PACRA Withdraws the Ratings of Beacon Impex (Pvt.) Limited - PP Sukuk - PKR 1bln - Sep-25
| Issuer | Beacon Impex (Pvt.) Limited |
| Instrument | Privately Place Short Term Sukuk |
| Amount | PKR 1000 mln |
| Issuance Date | 24-Sep-25 |
| Tenor | 0.6 Years |
| Redemption Date | 24-Mar-26 |
| Outstanding Amount | - |
| Rating Type | Debt Instrument | |
|
Current (21-May-26 ) |
Previous (03-Dec-25 ) |
|
| Action | Redeem | Initial |
| Long Term | - | A |
| Short Term | - | A1 |
| Outlook | Stable | |
| Rating Watch | - | - |
Beacon Impex (Pvt.) Limited redeemed its Rated, Secured, Privately Placed, Short-Term Sukuk issued in September 2025. The proceeds were utilized to finance the working capital requirements of the Company. The underlying instrument was secured by a ranking charge over the current assets of the Company. The Company duly settled all principal and markup obligations on March 24, 2026.
Consequently, the Pakistan Credit Rating Agency Limited (PACRA) has withdrawn the rating of Beacon Impex (Pvt.) Limited | PPSTS | PKR 1bln | Sep-25.
About
the Entity
Beacon Impex commenced operations in 2005. The majority shareholding lies with the Company's CEO, Mr. Muhammad Shakeel Faridi, the director, Mr. Mudassar Zafar, and other sponsors. The Company has a capacity of ~7.4mln garments per month and knitted products. The Board comprises two BoDs, including the CEO, Mr. Muhammad Shakeel Faridi, and Mr. Mudassar Zafar.
About
the Instrument
Beacon Impex issued Rated, Secured, Privately Placed, Short-Term Sukuk, carrying a markup of 6MK+1.50% with a tenor of 06 months. The Issuer maintained a Debt Payment Account (“DPA”) under the lien of the Investment Agent, whereby fortnightly payments of PKR 250mln were deposited commencing 60 days prior to maturity in accordance with the terms of the instrument. Principal repayment was structured as a bullet payment at maturity, while markup payments were made on a quarterly basis.