MIRA INFORM REPORT

Report Date :

12^th February, 2007

IDENTIFICATION DETAILS

Name :	WILSHIRE LABORATORIES (PRIVATE) LIMITED

Registered Office :	124/1, Industrial Estate, Kot Lakhpat, Lahore, Pakistan

Country :	Pakistan

Date of Incorporation :	1982

Com. Reg. No.:	L - 07028

Legal Form :	Partnership

Line of Business :	Manufacture & Marketing of Pharmaceutical Products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Business Name

WILSHIRE LABORATORIES (PRIVATE) LIMITED

Full Address

Registered Address & Factory

124/1, Industrial Estate, Kot Lakhpat, Lahore, Pakistan

Tel	92 (42) 5116685, 5116579
Fax	92 (42) 5151721
Email	jawa@brain.net.pk

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Pharmaceutical Products
b.	Year Established	1982
c.	Registration #	L - 07028

Branches

In Karachi & Islamabad

Auditors

Ch. Karamat Ali & Co.

(Chartered Accountants)

13-A, Sabzazar Scheme, Multan Road, Lahore, Pakistan

Legal Status

Subject Company was established as a Partnership business in 1982 then afterwards it was converted to Private Limited Company

Authorised Capital

Rs. 10,000,000/- divided into 100,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 8,054,800/- divided into 80,548 shares of Rs. 100/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Amjad Ali Jawa

Mr. Tehseen Tahira Jawa

Mr. Ghazanfar Ali Jawa

Mr. Asad Ali Jawa

Pakistani

239-M, Model Town (Extn). Lahore

Business

Chief Executive

Director

Shareholders

Names

Mr. Amjad Ali Jawa

Mr. Tehseen Tahira Jawa

Mr. Ghazanfar Ali Jawa

Mr. Asad Ali Jawa

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Products

ADIOS, AGILE, AGILE FORTE, AIDRA, AMONI, AMPIWIL, AMSPOR, ANTIFLAM, ASPIRIN, BARBIDOL, BENZIM, BONATE, BRONCHOTAB, CETAZID FORTE, CHLORPHENIRAMINE, CHLORTAB, DARWOCET, DERMAAN, DICLOTAB, ECOTRIN, EFED, ELLETTRA, ESOPROTO, FAMID, FANSIWIL, FANTASIA, FLEXIFLOW, GELITA, GLYFORM, GLYSET, HISTANIL, HISTASET, HYOSCINE COMPOUND, LABISTA, LASTOLIP, LEXTTOR, LOTTO, MEDIGESIC, MEDIGESIC FORTE, MERCAZOLE, METOWIL, METRONIDAZOLE, MOBIC, NEUMO, NEUROVIT, NYDRAZIDE, OXYWIL, PARACETAMOL, PHENOTAB, PROCHLOR, PRONTO, PROTONIX, RELSPASM, RIFAMATE, RIFAMATE-INH, RIFINZID, RIFINZID FORTE, ROXIB, SARAPYRINE, SHIRAZOLE, SHIROCIN, SHIRODEX, SIPROF, SIZZLE, STELZA, SUMAPAN, SUMAZONE, TOBITIL, TRIAX, TRIGESIC, TRINKLE, URISEPT, VIBRATAB, WELDENE, WILAGIN, WILBUTOL, WILBUTOL-H, WILCIMET, WILCLOX, WILFEN, WILGRAN-M, WILMYCIN, WILNORMIN, WILOXOVID, WILQUINE, WILSTAN, WILTRAN, WILZOLID, ZEECIN, ZILPRO, ZINAMID, ZITUM, ZOMOZ, ZULTRA, ZULTRACET

Number of Employees

200 - 210

Actual Capacity & Production

The capacity and production of the Company’s plant is indeterminable as it is multi-product and involves varying processes of manufacture.

Annual Sales Volume

Year In Pak Rupees

2005 200,000,000/- (Estimated)

Trade Suppliers (Foreign)

(1) AARTI DRUGS LIMITED.

(2) ALCON PHARMACEUTICALS.

(3) ENZAL CHEMICALS INDIA LIMITED.

(4) KOPRAN LIMITED.

Distributors

Mainly in all major cities of Pakistan

Bankers and their addresses

(1) Soneri Bank Limited, Akbar Chowk Branch, PECO Road, Lahore, Pakistan. (Mortgage obtained PKR 26,000,000/-)

Financial Position

Sound

Memberships

· Pakistan Pharmaceutical Manufacturers Association.(PPMA)

· Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 60.72
UK Pound	1	Rs. 118.15
Euro	1	Rs. 78.75

Comments

Subject Company enjoys good reputation in Pakistan Pharmaceutical Industry. All the directors are reported as experienced, respectable and having satisfactory means of their own. Trade relations are reported as fair. Payments are usually correct and as per commitments. The Company can be considered for normal business dealings at usual trade terms and conditions.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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