The Pakistan Credit Rating Agency Limited
29-Apr-23
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
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PACRA Suspends Entity Ratings of Sadiq Poultry (Pvt.) Limited
| Rating Type | Entity | |
|
Current (29-Apr-23 ) |
Previous (29-Apr-22 ) |
|
| Action | Suspended | Maintain |
| Long Term | - | BBB+ |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | - |
Due to non-availability of requisite information, the ratings of Sadiq Poultry (Pvt.) Limited ('the Company') has been suspended. Once the required information is available, PACRA would update the ratings after following the due process.
.
About
the Entity
Sadiq Poultry (Pvt.) Limited is a successful parent venture of Sadiq Group, a well-known player of Pakistan’s poultry industry. It was incorporated in 2004 and is primarily engaged in operating 38 poultry farms, out of which 30 are breeder farms, 4 broiler units, 4 laying units and 2 hatcheries. The Company has its own livestock pharmaceutical setup, to ensure birds health.
After Dr. Sadiq's demise, the shareholding was divided between his two wives and six children: Salman Sadiq (~42%), Asif Zubair (~25%), Sanan Sadiq (~9%), Saad Sadiq (~9%), Saima Elahi (~4%), Ayesha Bilal (~4%), Rasheeda Begum (~3%) and Saadia Sadiq (~3%). The Company is headed by Mr. Salman Sadiq as the CEO.