Press Release
VIS Reaffirms Entity Ratings of Roomi Poultry Limited
Karachi, October 9, 2026: VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of Roomi Poultry Limited at ‘A-/A2’ (Single A Minus/A Two). The medium-to long-term rating of ‘A-’ indicates good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy. The short-term rating of ‘A2’ denotes good likelihood of timely repayment of short-term obligations with sound short-term liquidity factors. Outlook on the assigned rating remains ‘Stable’. Previous rating action was announced on July 21, 2025.
The project was established under Roomi Foods Pvt Ltd in 2013. After a demerger, Roomi Poultry Limited (“RPL” or “the Company”) was established in 2019. RPL is now the parent entity of the Iqbal Group of Companies and operates as a fully integrated poultry enterprise in Pakistan. Headquartered in Lahore, Punjab, RPL is engaged across the poultry value chain, encompassing feed manufacturing, egg production, and egg strategic trading. The Company is progressively developing a diversified business structure to support operations across multiple verticals and enhance operational synergies, which include investments in subsidiaries to broaden its business footprint. Avilac Solutions (Pvt.) Limited, a wholly owned subsidiary, is engaged in the trading of imported feed additives. FieldFusion Corp. (Pvt.) Limited, also wholly owned, focuses on the export of agri-based products. Additionally, Poultry Links (Pvt.) Limited, in which RPL holds a 99.94% equity stake, operates in broiler farming, breeder operations, and allied poultry businesses.
The assigned ratings reflect Roomi Poultry Limited’s growing scale, improving profitability and integrated position across the poultry value chain. Net sales increased by 87% in FY26, driven by higher egg production, increased outsourced volumes and stronger exports. Improved operating performance subsequently supported expansion in gross and net margins. The integrated business model, encompassing feed manufacturing, layer farming, egg production and trading, provides operational diversification and supports greater control across the value chain. Financial risk remains a key rating consideration as gearing increased at end-FY26, reflecting higher short-term borrowings to support working capital and expansion. Nonetheless, stronger earnings translated into improved internal cash generation, with FFO increasing and DSCR improving in FY26. Liquidity remained adequate while aging of receivables remained satisfactory.
Going forward, continued expansion in exports and planned investments in downstream infrastructure, including the Egg Hub is expected to enhance storage, handling and processing capacity, while the planned feed mill expansion should support further scale-up. The proposed IPO in FY27, if executed as planned, is expected to strengthen the equity base and materially improve gearing and financial flexibility. The ratings remain sensitive to sustained improvement in profitability and cash generation, disciplined working capital management, timely execution of planned expansions and improvement in the leverage profile.
For further information on this ratings announcement, please contact at 021-35311861-64 or email at info@vis.com.pk
Applicable Rating Criteria:
Industrial Corporates
https://docs.vis.com.pk/Methodologies-2026/Corporate-Rating-2026.pdf
VIS Issue/Issuer Rating Scale
https://docs.vis.com.pk/docs/VISRatingScales.pdf