MIRA INFORM REPORT

Report Date :

14.02.2008

IDENTIFICATION DETAILS

Name :	PAKISTAN PHARMACEUTICAL PRODUCTS (PRIVATE) LIMITED

Registered Office :	5^th Floor, Nelson Chamber, I.I. Chundrigar Road, Karachi,

Country :	Pakistan

Financials (as on) :	2006

Date of Incorporation :	1963

Com. Reg. No.:	0001681

Legal Form :	Private Limited Company

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 :	No Complaints

Litigation :	Clear

COMPANY NAME

PAKISTAN PHARMACEUTICAL PRODUCTS (PRIVATE) LIMITED

Address

Registered Address & Factory

5^th Floor, Nelson Chamber, I.I. Chundrigar Road, Karachi, Pakistan

Tel 92 (21) 2624445, 2624062

Fax 92 (21) 2635851

E-Mail mhanifar@cyber.net.pk

Short Description Of Business

Nature of Business Manufacture & Marketing of Pharmaceutical Products

Year Established 1963

Registration # 0001681

Factory Location

Address D-122, S.I.T.E., Karachi, Pakistan

Tel # 92 (21) 2582023

Fax # 92 (21) 2564650

Auditors

M/s Munif Ziauddin & Co.

(Chartered Accountants)

Business Executive Centre, F/17/3, Block 8, Clifton, Karachi, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1963

Authorized Capital & Issued & Paid up Capital

Authorized Capital Rs. 5,000,000/- divided into 5,000 shares of Rs. 1000/- each

Issued & Paid up Capital Rs. 4,377,000/- divided into 4,377 shares of Rs. 1000/- each

Details of Chief Executive/ Directors

Names

Nationality

Address

Occupation

Designation

Mr. Muhammad Yahya

Mr. Muhammad Ilyas

Mr. Owais A. Allawala

Pakistani

5^th Floor, Nelson Chambers, I.I. Chundrigar Road, Karachi

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Muhammad Rafi

Mr. Muhammad Yahya

Mr. Muhammad Ilyas

Mrs. Ameena Begum

Miss Zia Khatoon

Miss Nayyar Khatoon

Mr. Muhammad Essa

Miss. Deeba Yahya

Mrs. Salma Ruby

Mr. Owais A. Allahwala

355

100

1,529

2,000

Associates

A. Subsidiary

None

B. Associated Companies

(1) M/S Les Cosmetiques, Pakistan.

Products / Services

ARCOFIX, ARCOFLOXIN, ARCOMOX, ARCOZID, ARCOZOL, BETABLOCK, CALCIUM ARCO, CEPADIN, CLORAMIDINA, CLORAMIDINA H, DOLGIT, FAMDIN, GASTRUSIL, HADENSA FORTE, HADENSA PLAIN, KATIFEN, LOPERAM, NECLOF, SEPTEM, THEORON, VITAFER

Number of Employees

125

Trade Suppliers (Foreign)

VASUDHA PHARMA, INDIA.

MURLI KRISHNA (PVT) LIMITED, INDIA.

ZHUHAI UNITED LABORATORIES CO., LTD, CHINA.

Annual Production Volume

The capacity and production of the company’s plant is indeterminable as it involves varying processes of manufacture.

Annual Sales Volume

Year In Pak Rupees

2006 70,000,000/- (Estimated)

Customers

Mainly in Karachi

Bankers

Habib Bank Limited, Pakistan.

Habib Metropolitan Bank Limited, Pakistan.

Citibank N.A., Pakistan.

Soneri Bank Limited, Pakistan.

Memberships

Pakistan Pharmaceutical Manufacturers Association.(PPMA)

Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 62.90
UK Pound	1	Rs. 123.15
Euro	1	Rs. 91.60

Comments

Subject Company was established in 1963 and is engaged in manufacture & marketing of Pharmaceutical Products. Overall reputation is normal. Trade relations are reported as fair. The Company can be considered for normal business dealings at usual trade terms & 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.	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

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%)

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