Currency devaluation contributed to growing sales trend for Nadeem Textile Mills: JCR-VIS

News Image

MG News | December 19, 2018 at 05:29 PM GMT+05:00

0:00

December 19, 2018 (MLN): JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the entity rating of Nadeem Textile Mills Limited (NTML) to ‘BBB/A-2’ (Triple B/A-Two) from ‘BBB-/A-3’ (Triple B Minus/A-Three). Outlook on the assigned ratings is ‘Stable’.

The long term rating of ‘BBB’ signifies adequate credit quality; protection factors are reasonable and sufficient. Risk factors are considered variable if changes occur in the economy.

The short term rating of ‘A-2’ signifies good certainty of timely payment. Liquidity factors and company fundamentals are sound. Access to capital markets is good. Risk factors are small.

The assigned ratings take into account adequate sponsor support, improvement in profitability, capitalization indicators and liquidity profile of the company. Ratings are constrained by high leverage indicators.

Product diversification, currency devaluation and volume growth provided a growing trend in sales in FY18 and Q1’19 vis-à-vis the corresponding periods in the preceding year. Product innovation coupled with currency devaluation resulted in improved gross margins in 2018. Besides the aforementioned factors, utilization of lower priced cotton inventory aided gross margins in Q1’19. Sustainability in margins in the given rating horizon would be an important rating determinant.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 135,939.87
307.74M
-0.41%
-562.67
ALLSHR 84,600.38
877.08M
-0.56%
-479.52
KSE30 41,373.68
101.15M
-0.43%
-178.94
KMI30 191,069.98
82.45M
-1.17%
-2260.79
KMIALLSHR 55,738.07
422.01M
-1.03%
-577.24
BKTi 38,489.75
45.79M
-0.02%
-8.33
OGTi 27,788.15
6.87M
-1.24%
-350.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,840.00 117,890.00
117,475.00
1100.00
0.94%
BRENT CRUDE 68.86 69.41
68.60
-0.35
-0.51%
RICHARDS BAY COAL MONTHLY 96.50 96.50
96.50
0.50
0.52%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.25
-2.05
-1.92%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.85 66.87
66.73
0.33
0.50%
SUGAR #11 WORLD 16.56 16.61
16.25
0.26
1.60%

Chart of the Day


Latest News
July 15, 2025 at 05:46 PM GMT+05:00

Labubu Mania drives Pop Mart’s profit surge


July 15, 2025 at 05:22 PM GMT+05:00

Big industry output rises 2.29% in May


July 15, 2025 at 04:22 PM GMT+05:00

SYS set for 71% profit surge on global tailwinds



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg