MIRA
INFORM REPORT
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Report Date : |
23.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
EXIR PHARMACEUTICAL COMPANY |
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Registered Office : |
No. 15, Rahmati St.,After Vali-e-Asr Sq,
Tehran 15949 |
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Country : |
Iran |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
54844 |
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Legal Form : |
Public Joint Stock Company |
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Line of Business : |
Pharmaceutical preparations for the cardiovascular system, central and
autonomic nervous system. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Details
Company Name: Exir Pharmaceutical Company
Headquarter
Address: No. 15, Rahmati
St.,After Vali-e-Asr Sq
Tehran 15949
Iran
Tel: +98 21 88890347
+98
21 88918470
+98
21 88918463
+98 662 4446500
+98 662 4446501
+98 662 4446502
+98 662 4446503
Fax: +98 21 88899358
+98 662 4445277
Website: www.exir.co.ir
E-mail: info@exir.co.ir
History
EXIR pharmaceutical company is
established in the western Iranian province of Lorestan in 1988 and became
operational in 1994. Today, EXIR is one of the largest manufacturers of
medicines in Iran.
EXIR with a
staff of about 500 produces pharmaceutical products in a huge complex
constructed on 36 hectares within an area more than 360.000 m2 and is equipped
with machinery as well as the most sophisticated laboratory equipment.
Reception at Tehran Stock Exchange
Market : 2000
Registration
& Legal Details
Current Legal Form: Public Joint Stock Company
Registration Address: No. 15, Rahmati
St.,After Vali-e Asr Sq.
Tehran 15949
Iran
Registration Number: 54844
Registration Date: 1988
Year Established: 1994
Registration Town: Tehran
Capital
Currency: Iranian
Rials
Nominal capital: 75,000,000,000
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Number of Shares: 75,000,000 |
Type of Shares: None Selected |
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Issued Shares: - |
Value per share: IRI 1,000.00 |
Shareholders
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Shareholder Names/ Address |
% of Voting/Non-Voting Capital |
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Social Security Investment Tehran Iran |
%36 |
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Darou Pakhsh
Company Tehran Iran |
%31 |
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Others Iran |
%33 |
Principals
Name: Mr. Farshad Malekvand
Position within the company: Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Shahab Varmazyari
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi, English
Name: Mr. Gholam Hossien
Farzandi
Position within the company: Managing Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi
Name: Mr. Mehdi Ataran Rezaei
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi
Name: Mr. Seyed Abdolmajid Ayatolahi
Position within the company: Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Company
Activities
Production of finished dosage forms:
Pharmaceutical preparations for the cardiovascular system, central and
autonomic nervous system
Vitamins, hormones and organ extracts
Chemotherapeutic agents, endocrines, antiseptics,
immunological preparations
Local Reporters consider the investigated company to be
Large their field of concern.
Operations
Employees
Company Employs: 450
HQ Premises
Operates from: Owned Offices, Warehouses,
Factory
Location: Central Business Area, Main Road
Branch:
Exir Factory
2nd km of Ring
Road,
Broujerd 69789
Iran
Branch is owned
Imports
Imports: Raw Material
Import%: 20%
Import from: China, Japan, India
Import terms: letters of credit
Additional: balance of 80% purchased via
local market
Export
Exports: Finished Goods
Export%: 25%
Export from: Russian Federation, Ukraine, Yemen
CIS, Iraq,
Afghanistan,
Export terms: letters of credit
Trading
& Selling
Territory: 75% Nationality, 25 % Internationally
Type of Customer: General Public, Local
Authorities
Terms of sales: Cash, letters of credit
Vehicles: Total number of vehicles: 75
Related Companies
Affiliates:
Daroupakhsh Company
Tehran
Iran
Banks
Bank Saderat
Tehran
Iran
Bank Tejarat
Tehran
Iran
Financial
Information
Source: Ms. Mona Delshad (Secretary)
Currency: Iranian Rials -
000,000
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Months |
Date |
Sales |
Gross
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Net |
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12 |
29/03/2007 |
989003 |
228312 |
164025 |
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12 |
29/03/2006 |
894380 |
185990 |
140918 |
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12 |
29/03/2005 |
783100 |
169071 |
134021 |
BALANCE SHEET
Source: Financial Estimates on
29/03/2006
Currency: Iranian Rials
Note:
Figures in 000,000
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NEW WORTH |
146600 |
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Trade Creditor |
89000 |
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Total Liabilities |
111700 |
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Trade Debtors |
75600 |
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Total Assets |
271700 |
Payments
Subject's payments reported to be: NO COMPLAINTS
interview
& reporter comments
Name/Title: Ms. Mona Delshad (Secretary)
In the interview conducted with Ms. Mona Delshad (Secretary), She
declined bank account numbers citing the grounds of Company
confidentiality.
Conclusion
Local Reputation: The company being investigated is considered by local reporters to be a
Normal Trade Risk.
General Conclusion:
Local informants consider granting of credit to be a fair trade risk.
Owner/Shareholders Comments:
Some of owners involved in the running of
the business
Age of Business: Old
Business
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%)