MIRA INFORM REPORT

Report Date :

19.01.2008

IDENTIFICATION DETAILS

Name :	POLYFINE CHEMPHARMA (PVT) LIMITED

Registered Office :	51, Industrial Estate Jamrud Road, Peshawar,

Country :	Pakistan

Date of Incorporation :	1991

Com. Reg. No.:	P - 00818/19910906

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 :	Regular

Litigation :	Clear

Business Name

POLYFINE CHEMPHARMA (PVT) LIMITED

Full Address

Registered Address & Factory

51, Industrial Estate Jamrud Road, Peshawar, Pakistan

Tel	92 (91) 5814937, 5812756
Fax	92 (91) 5814938
Email	abdulrsh@brain.net.pk

Short Description Of Business

Nature of Business	Manufacture & Marketing of Pharmaceutical Products
Year Established	1991
Registration #	P-00818/19910906

Branches

None

Auditors

Munawar Associates

(Chartered Accountants)

Aeedan Shah Building, Dabgari Chowk, Peshawar, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1991

Authorized Capital	Rs. 10,000,000/- divided into 100,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 4,600,000/- divided into 46,000 shares of Rs. 100/- each

Details of Chief Executive/ Directors

Names

Nationality

Address

Occupation

Designation

Abdul Rasheed

Waseem Shehzad

Nadeem Shehzad

Aleem Shehzad

Pakistani

2 - Khalid Land, Peshawar Cantt

Business

Chief Executive

Director

Shareholders

Names

Address

No. of Shares

Abdul Rasheed

Hameeda Begum

Naeem Shehzad

Mrs. Ishrat Ali

Waseem Shehzad

Mrs. Sumera Shehzad

Nadeem Shehzad

Mrs. Uzma Nadeem

Saleem Shehzad

Mrs. Shabnam Shehzad

Azeem Shehzad

Aleem Shehzad

Naseem Shehzad

2 - Khalid Land, Peshawar Cantt

1,740

6,940

3,002

1,666

4,366

1,500

4,006

1,666

4,460

1,666

4,996

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Products / Services

Manufacture & marketing of Pharmaceutical Products. Their brand names are Alfavit, Allorat, Ceframed, Ceftrex, Chloroquine, Chlorpheniramine, Ciprofine, Clavumox, Clonatril, Cromosol, Devinate, Divirat, Dixigram, Erythromycin, Expodox, Fazim, Fendic, Fenmol, Flavogin, Flinox, Flogesic, Flu-fine, Flucare, Flurofen, Furazolidone, Hexalon, Klarifine, Leflocin, Medinol, Metronidazole, Migranil, Milosol, Naloroptic, Optibram, Paracetamol, Perill, Pirental, Piroflam, Polyclox, Polygenta, Polylact, Polytax, Polytran, Polyzide, Promethazine, Rorocin, Silzolin, Simtas, Sterifrin, Sulfadar, Thelmox, Tricosten

Number of Employees

Trade Suppliers (Foreign)

TAURUS CHEMICALS, INDIA.

ZHEJIANG XIANJU CHARIOTEER PHARMACEUTICALS, CHINA.

NORTH CHINA PHARMACEUTICAL GROUP CORP, 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	38,000,000/- (Estimated)

Customers

Mainly in Peshawar, Lahore & Karachi

Bankers and their addresses

(1) United Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) Habib Metropolitan Bank Limited, Pakistan.

Memberships

Pakistan Pharmaceutical Manufacturers Association. (PPMA)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 62.50
UK Pound	1	Rs. 122.30
Euro	1	Rs. 92.40

Comments

Subject Company was established in 1991 and is engaged in manufacture & marketing of Pharmaceutical Products. 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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