Analyst
Shayan Farooq
shayan.farooq@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
PACRA Withdraws Entity Ratings of Sadiq Oil Extraction Pvt. Limited
Rating Type | Entity | |
Current (05-Feb-22 ) |
Previous (06-Aug-21 ) |
|
Action | Withdraw | Maintain |
Long Term | - | BBB- |
Short Term | - | A3 |
Outlook | Stable | |
Rating Watch | - | - |
Subsequent to the management's decision to discontinue the entity ratings of Sadiq Oil Extraction (Pvt.) Limited. PACRA withdraws the entity ratings with immediate effect.
About
the Entity
Sadiq Oil was incorporated in 2013 and is primarily engaged in oilseed filtering and crushing, oil extraction, and refining. Presently, the Company has two solvent extraction plants with a crushing capacity of 600 MT/day. While the chemical refinery can semi-refine up to 300 MT/day. Physical refinery has a refining capacity of 200 MT/day, while. Ghee plant has a capacity of 250 MT/day. The Company's business line includes three different products (semi-refined edible oil, refined and branded edible oil, and meal) in three variants (Soybean, Canola, and Sunflower).
Shareholding of the Company vests with Mrs. Saadia Sadiq (22%) and her sons: M. Arsal (25%), M. Sanan (27%), and M. Saad (27%).