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MIRA
INFORM REPORT
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Report Date : |
16.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
CIRIN PHARMACEUTICAL (PVT.) LIMITED |
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Registered Office : |
Room # 9 & 10, Sher Khan Shaheed Stadium, Khyber Road, Peshawar
Cantt |
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Country : |
Pakistan |
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Date of Incorporation : |
1991 |
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Com. Reg. No.: |
0026066 |
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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 : |
No Complaints |
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Litigation : |
Clear |
Business Name
CIRIN PHARMACEUTICAL (PVT.) LIMITED
Full Address
Registered Address
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Room # 9 & 10, Sher Khan Shaheed
Stadium, Khyber Road, Peshawar Cantt, Pakistan |
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Tel |
92 (91) 5286762, 5286763 |
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Fax |
92 (91) 5272692 |
Short Description Of Business
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Nature of Business |
Manufacture &
Marketing of Pharmaceutical Products |
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Year Established |
1991 |
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Registration # |
0026066 |
Branches
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Address |
House # 283, Peshawar Road, Rawalpindi, Pakistan |
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Tel # |
92 (51) 5519940, 5519941, 5514711 |
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Fax # |
92 (51) 5523342 |
Factory Location
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Address |
92/2A, Phase III, Industrial Estate, Hattar, Haripur, Pakistan |
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Tel # |
92 (995) 617097,617098 |
Auditors
Imran-Ul-Haq & Co.
(Chartered Accountants)
1-B, ATS Centre, 30-West Fazal-Ul-Haq Road, Blue Area, Islamabad,
Pakistan
Legal Status
Subject Company was established as a Private Limited Company in 1991
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Authorized
Capital |
Rs. 15,000,000/- divided into 150,000 shares
of Rs. 100/- each |
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Issued
& Paid up Capital |
Rs. 5,600,000/- divided into 56,000 shares
of Rs. 100/- each |
Details of Chief Executive/
Directors
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Yousaf Mr. Khawaja Abdul Bashir Mr. Munim Sultan Mir Mr. Mahmood Ali |
Pakistani Pakistani Pakistani Pakistani |
283, Peshawar Road, Rawalpindi 283, Peshawar Road, Rawalpindi 283, Peshawar Road, Rawalpindi 283, Peshawar Road, Rawalpindi |
Business Business Business Business |
Chief Executive Director Director Director |
Shareholders
Names
Mr. Muhammad Yousaf
Mr. Khawaja Abdul Bashir
Mr. Munim Sultan Mir
Mr. Mahmood Ali
Associates
A. Subsidiary
None
B. Associated Companies
- Do -
Products / Services
Manufacture &
marketing of Pharmaceutical Products by its brand names of ANPRA, AUROPEN,
CALFO-V, CEFCIN, CEPTIN, CLOCIT, FORTECIN, FOTAX, HY-CORTISONE, IMEDIA, KAPCIN,
PIROSIL, PLASMOCIDE, PROCIL, RESAL, SAKOON, UFREX, VITACAL 1000+C, VITACAL
EXTRA, VITACAL-S, XALAR, ZEEMOX, ZEEMOX FORTE, ZEPSIN
Number of Employees
175 - 190
Trade Suppliers (Foreign)
ADVAN PHARMACHEM CO. LTD, CHINA.
DR. REDDYS, INDIA.
DRAGON 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
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Year |
In Pak Rupees |
|
2006 |
100,000,000/- (Estimated) |
Authorized Distributors
Mainly in Karachi, Rawalpindi, Lahore, Multan,
Quetta & Peshawar
Bankers
Habib Bank Limited,
Pakistan.
Mybank Limited,
Pakistan.
Bank Alfalah Limited, Pakistan.
(4) Faysal Bank Limited, Pakistan.
Memberships
Pakistan Pharmaceutical Manufacturers Association.(PPMA)
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 63.25 |
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UK Pound |
1 |
Rs. 123.90 |
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Euro |
1 |
Rs. 92.60 |
Comments
Subject Company was established in 1991 and
is engaged in manufacture & marketing of Pharmaceutical Products. Overall
reputation is satisfactory. Trade relations are reported as fair. The Company
can be considered for normal business dealings at usual trade terms &
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. |
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%)