MIRA
INFORM REPORT
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Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
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Name : |
NABIQASIM INDUSTRIES (PVT) LIMITED |
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Registered Office : |
509, Fifth Floor, |
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Country : |
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Date of Incorporation : |
1967 |
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Com. Reg. No.: |
KAR-2148 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture &
Marketing of Pharmaceutical Products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Business Name
NABIQASIM INDUSTRIES (PVT) LIMITED
Full Address
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Registered Address |
Factory Address |
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509, Fifth Floor, |
17/27, Korangi Industrial Area, Karachi, |
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Tel |
92 (21) 2633569, 2633590, 2636919, 2629882 |
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Tel |
92 (21) 5066324, 5066316, 5066948, 5061748 |
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Fax |
92 (21) 2636313 |
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Fax |
92 (21) 5061793 |
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Website |
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Short Description Of
Business
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Nature of Business |
Manufacture & Marketing of Pharmaceutical Products |
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Year Established |
1967 |
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Registration # |
KAR-2148 |
Legal Status
Subject Company was incorporated as a Private Limited Company in 1967
Auditors
Muhammad Farooq & Co.
(Chartered
Accoutants)
208 - 209, Dada Chambers, Near
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Authorised Capital |
Rs. 100,000,000/- divided into 1,000,000 shares of Rs. 100/- each |
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Issued & Paid up Capital |
Rs. 50,000,000/- divided into 500,000 shares of Rs. 100/- each |
Details of Directors
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Names |
Nationality |
Occupation |
Designation |
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Mr. Mohammad Ali Majid Dr. Abdul Majid Mrs. Saleha Sultana Mr. Mohammad Abdullah Majid Mr. Chaudhry Faqir Mohammad Mrs. Sajida Sultana |
Pakistani Pakistani Pakistani Pakistani Pakistani Pakistani |
Business Business Business Business Business Business |
Chief Executive Director Director Director Director Director |
Shareholders
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Name of
Shareholders |
No. of Shares |
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Dr. Abdul Majid Mrs. Saleha Sultana Mr. Mohammad Ali Majid Mr. Mohammad Abdullah Majid Mrs. Humaira Jawwad Mrs. Amenah Raza Mrs. Sara Omer Mr. Chaudhry Faqir Mohammad Mrs. Saeeda Bano Mr. Humayun Mohammad Mr. Chaudhry Mukhtar Ahmed Mr. Chaudhry Abdul Sattar Mrs. Sajida Sultana Mr. Chaudhry Rehmat Ali Mrs. Shamim Lateef Mrs. Ashraf Begum Mr. Faqir Mohammad Anjum Mr. Ghulam Rasool Mst. Umree Mrs. Kulsoom Akhtar Mrs. Haneefa Bibi Mrs. Shamim Akhtar Mrs. Hameedan Bibi |
278 140,236 51,766 51,766 25,933 25,933 25,933 39,275 7,198 8,876 23,000 6,770 61,741 8,993 6,440 6,859 1,968 1,968 1,119 984 984 984 984 |
Associated
Companies
Faiz Laboratories.
Eastern Trade & Distribution.
Stancos (Pvt.) Limited.
Surge Laboratories (Pvt.) Limited.
Products
ALBACT TABS, ALLERGEX SYRUP, ARTHROFEN TAB, BIOLYSINE SYRUP, CLOMITAB TABS, COLOSPAS TABS, COMYCETIN EAR DROPS, COMYCETIN EYE DROPS, CORTEC TABS, CORTI DROPS, DEMOSPORIN CREAM, DEMOSPORIN SOLUTION, DEPRICAP CAPSULES, DETOXICOL SYRUP, DYSEN FORTE TABS, GLANDEN E2, GYNOSPORIN VAGINAL CREAM, GYNOSPORIN TABS, ISOZIDE SYP, KLEEN ENEMA, LOPROT CAPSULES, NORMITABS TAB, OPTISOL EYE DROPS, OTOSOL EAR DROPS, PEPTICURE TABS, PIROXIDEN GEL, RELAXITAL TABS, ULCIFAM
Number of Employees
276
Annual Sales Volume
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Year |
In Pak Rupees |
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2006 |
500,000,000/- (Estimated) |
Trade Suppliers
(Foreign)
(1) MANTENA LABORATORIES LIMITED,
(2) BINDER
(3)
Annual Production
Volume
The capacity and production of the company’s plant is
indeterminable as it is multi-product and involves varying processes of
manufacture
Exporting Countries
Mainly to Asian, Africa & Middle East Countries
Bankers
(1) Soneri Bank Limited, Korangi Industrial Area Branch,
(2) Dubai Islamic Bank Pakistan Limited, Avari Tower, Fatima Jinnah Road, Karachi, Pakistan.(Mortgage obtained PKR 100,000,000/-)
Financial Position
Sound
Memberships
Foreign Exchange
Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 61.17 |
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1 |
Rs. 121.25 |
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Euro |
1 |
Rs. 81.80 |
Comments
Subject Company was established in 1967 and is engaged in manufacture & marketing of Pharmaceutical Products. Directors are reported as resourceful and experienced businessmen. Trade relations are reported as fair. The Company can be considered for normal business dealings at usual trade terms and conditions.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)