PACRA Maintains Entity Ratings of KAM International - Press Release issued by The Pakistan Credit Rating Agency Limited.

Lahore -- January 30, 2023 (PPI-OT)Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)QuoteKAM International is a prominent textile venture of the Mekotex group. The group has a presence in the textile, energy, and water supply sectors through five established companies Mekotex, Meko Denim, Innovative Energy Solutions, Aquagen, and KAM International. It has been operational as a single-member company with a history of more than two decades. The Company is principally engaged in the manufacturing and export of home textiles (Bedding sets and a variety of napkins, towels, and table cloth). Broad product slate has assisted the company in strengthening its position over the years.The Company's management involves experienced professionals, aided by comprehensive reporting, looking after the operations with complete autonomy. Its established business profile emanates from a strong presence in the broader value chain; enabling the company to manage volatility in the textile industry. The sales mix, dominated by exports, displays a steady improvement over the years. The Company enjoys an established customer base with several export destinations in European Countries (80%) and the United States of America (20%).The management is planning further penetration in USA/ Canada market in the upcoming years. During FY22, the top line recorded at PKR 10.9bln (FY21: PKR 10.4bln), where 96% (FY21: 97%) vests with exports. However, the gross margin registered a slight drop. Going forward, given the export market depicting a recessionary trend, volumetric offtakes are forecasted to stay under...