MIRA INFORM REPORT

 

 

Report Date :

13.06.2008

 

IDENTIFICATION DETAILS

 

Name :

STAR LABORATORIES (PVT) LIMITED

 

 

Registered Office :

23-Km, Multan Road (Chung) 53800, Lahore

 

 

Country :

Pakistan

 

 

Date of Incorporation :

1960

 

 

Com. Reg. No.:

0006071  

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturing of Human, Veterinary and Poultry Medicines

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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

 

 

 

 

 

 

 

 

 

 

Business Name

 

STAR LABORATORIES (PVT) LIMITED

 

 

Full Address       

 

Registered Address & Factory

23-Km, Multan Road (Chung) 53800, Lahore-Pakistan.

                       

Tel

92 (42) 7511331, 7510690, 7512621,7512622

Fax

92 (42) 7510163, 7512622

Website

www.starlabs.com.pk

Email

starlab@brain.net.pk

 

 

Short Description Of Business

 

Nature of Business           

Manufacturing Of Human,Veterinary & Poultry Medicines

Year Established

1960

Registration #

0006071  

 

 

Sales Office

 

Veterinary Medicines Dept           

 

 23-KM, Multan Road Lahore, Lahore, Pakistan.            

 

Human Medicines Dept

 

125-A, Canal View, Thoker Niaz Beig, Lahore, Pakistan.

 

 

Auditors

 

Rashid Jahangir & Co.

(Chartered Accountants)

Room # 34, 2nd Floor, Sadiq Plaza, The Mall, Lahore, Pakistan

 

 

Legal Status

 

Subject was established as a Partnership business in 1960 then afterward its legal status was changed to Private Limited Company in 1978

 

 

 

 

Authorized Capital

Rs. 12,500,000.00

Issued & Paid up Capital

Rs. 11,750,000.00

 

 

Details of Directors

 

Names

Nationality

Address

Designation

Mr. Iqbal Hussain Malik

 

Mrs. Salma Malik

 

Mr. M. Israr Hussain Malik

 

Mr. M. Ashar Hussain Malik

 

Mr. Amir Aslam

Pakistani

 

Pakistani

 

Pakistani

 

Pakistani

 

 

Pakistani

50-Sanda Road, Lahore

 

50-Sanda Road, Lahore

 

50-Sanda Road, Lahore

 

50-Sanda Road, Lahore

 

 

50-Sanda Road, Lahore

Chief Executive

 

Director

 

Director

 

Director

 

 

Director

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

 None                              

           

B.         Associated Companies

 

(1) Champion Trading Corporation, Pakistan

 

 

Products

 

Medicine for Human and veterinary / Poultry use.

 

 

Number of Employees

 

265

 

 

Annual Production Capacity

 

(Combined Human & Veterinary Division)

 

SECTION

RATED CAPACITY ON SINGLE SHIFT BASIS

UTILIZED CAPACITY

UN-UTILIZED CAPACITY

INJECTIONS:

 

 

 

Ampoules

70800000 Nos.

42480000 Nos.

28320000 Nos.

Vials

9600000 Nos.

5760000 Nos.

3840000 Nos.

Solutions

240000 Ltr.

144000 Ltr.

96000 Ltr.

TABLETS:

 

 

 

Tablets

213600000 Nos.

128160000 Nos.

85440000 Nos.

Boluses

7200000 Nos.

4320000 Nos.

2880000 Nos.

OINTMENTS:

 

 

 

Ointments

1728000 Tubes

NIL

1728000 Tubes

LIQUIDS:

 

 

 

Syrup/Drops

614400 Ltr.

368640 Ltr.

245760 Ltr.

CAPSULES:

 

 

 

Capsules

9600000 Nos.

4500000 Nos.

5100000 Nos.

POWDERS:

 

 

 

Formulated

30000000 Pkt.

15000000 Pkt.

15000000 Pkt.

Repacked

2880000 Jars/Bags

1728000 Jars/Bags

1152000 Jars/Bags

 

 

Annual Sales Volume (Last 3 Years)

 

Year

In Pak Rupees

2007

370,000,000/- (Estimated)

 

 

Export to

 

Mainly to Saudi Arabia, Kuwait, Srilanka, Nigeria, Sudan, U.A.E., Mauritius and Mauritania.

 

 

Customers

 

In all major cities of Pakistan and 10 countries of the world.

 

 

Import Turnover

 

Year

US $

2007

1,500,000/- (Estimated)

 

 

Bankers

 

Bank Al-Habib Limited.

Bank Al-Falah Limited.

MCB Bank Limited, Pakistan.

Standard Chartered Bank, Pakistan.

Habib Bank Limited, Pakistan.

Faysal Bank Limited, Pakistan.

 

 

Future Plans

 

Many new products has been obtained and being added into production. The Human Medicines Section is being re-organized with the view to enhance its productivity and sales. Sales promotion of proprietary drugs is being arranged so as to mobilize the sales promotion department. On veterinary side, endeavors are being stepped up to obtain local manufacturing rights of productions of foreign manufacturers, especially, which are already registered and being sold in Pakistan. In order to increase sales of human medicines, registration of Star Laboratories with major government institutions have been applied and being followed up. For the implementation of above program the induction of new investors on the basis of equity participation or joint venture is being solicited.

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.(LCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 67.70

UK Pound

1

           Rs. 131.45

Euro

1

           Rs. 104.20

           

 

Comments

 

Star Laboratories (Pvt.) Limited was established in 1960 and is engaged in manufacture & export of Live Saving Drugs and Medicines for human and veterinary  / poultry use. Company’s market reputation is good. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms and 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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions