PACRA Assigns Initial Entity Ratings to Bilal Steel Mills (Private) Limited
Lahore, January 10, 2018 (PPI-OT):Bilal Steel is a distinct player in the steel industry. The company directly caters to the demand of corporate/ mega projects. It has multiple projects to its credit. The ratings reflect small market presence of the company in a large fragmented industry. The company operates on adequate business margins in order to compete in local market, hence Bilal Steel’s profitability is commensurate to its size. Bilal Steel has large infrastructural orders in hand which bodes well for the company. The company holds an adequate financial risk profile.
The brain of the company is Mr. Farrukh Shahzad Malik also reflecting key man risk. Bilal Steel is a private limited company with two member board – hence board oversight is desired. The ratings are dependent upon the company’s ability to sustain its market presence. Enhancement of business profile with improvement in financial risk indicators is crucial. Moreover, strengthening of governance framework and human resource is vital.
For more information, contact:
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425