Press Release
VIS Reaffirms Broker Management Rating of Standard Capital Securities (Private) Limited
Karachi, July 28, 2026: VIS Credit Rating Company Ltd. (VIS) has reaffirmed Broker Management Rating of Standard Capital Securities (Private) Limited at ‘BMR2’. Outlook on the assigned rating is ‘Stable’. Previous rating action was announced on July 02, 2025.
The rating signifies strong client relationship and external control framework. Supervision framework and HR and infrastructure framework are considered sound, while regulatory requirements, internal control framework, compliance and risk management and financial management are considered adequate.
Standard Capital Securities (Private) Limited was incorporated in 1998, providing full scale equity brokerage services to institutional as well as individual clients. Shareholding of the company is vested with members of the Chamdia family including the Chief Executive Mr. Naushad Chamdia. The Company has three offices in Karachi and one in Sialkot. SCS provides both online and assisted trading services to its clients. SCSPL is a private limited company holding Trading Rights Entitlement Certificate (TREC) granted by Pakistan Stock Exchange Limited (PSX), and is registered with SECP to provide Trading & Self-Clearing Services. External auditors of the Company are category ‘A’ chartered accountants on the approved list of auditors published by the State Bank of Pakistan (SBP).
Assigned rating takes into account the Company’s ownership and governance framework, where improvements can be achieved through increasing the board size, along with the appointment of independent and certified directors. This would also facilitate a more diversified composition across the board committees. Internal control framework of the Company is considered adequate while external control framework in strong, supported by improved disclosure levels. Client relationship & fair play of the Company is supported by multiple trading platforms and research reports being available on the website along with prompt trade alerts provided to clients upon trade execution. While Contingency measures of the Company are in place, conducting more frequent disaster recovery exercises may further enhance the effectiveness of these arrangements. Moreover, ensuring compliance with all applicable regulations will remain important from the rating’s perspective.
The assessment of the Company’s financial profile reflects continued growth in its profitability, supported by higher capital gains and increased brokerage revenue amid higher market activity. The Company’s operational efficiency remained at moderate level. Liquidity profile of the Company remained sound while market risk of the Company is elevated. The Company’s leverage continued to remain high whereas gearing remained on the lower side. The Company’s Equity base continued to expand in line with its profitability. Going forward, continued growth in profitability and revenue, along with maintaining operational efficiency, liquidity and gearing levels, will remain important for the rating.
For further information on this rating, please contact at 021-35311861-64 or email at info@vis.com.pk.
Applicable Rating Criteria: Broker Management Ratings:
https://docs.vis.com.pk/Methodologies-2025/Broker-Management-2025.pdf
VIS Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf