PACRA Maintains Entity Ratings of Etimaad Engineering (Private) Limited - Press Release issued by The Pakistan Credit Rating Agency Limited.

Lahore -- March 04, 2021 (PPI-OT)

Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)

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The ratings demonstrate Etimaad's strength, emanating mainly from its sustained operational history coupled with growth in revenue and margin, aided by healthy relationships with existing customers, and extensive experience of the management. The countrywide lockdown to combat Covid-19 pandemic put a halt in constructional activities. However, the pipeline is healthy; therein for the sake of sustainable long-term growth, management follows a balanced approach aiming to gain more share in different lines of businesses.

The entity is following a pyramid strategy; the top being mega projects (EPC), followed by construction and lastly maintenance related projects. The customer list portrays some of the best names in the domestic market. The Company has a track record of over a decade with strong capabilities in executing turnkey projects, as reflected in repeat orders from customers. The Company is adequately leveraged and the performance of the company rests with projects in hand and timely...