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MIRA
INFORM REPORT
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Report Date : |
27.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
GENIX PHARMA
(PRIVATE) LIMITED |
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Formerly Known as ; |
KARMANN PHARMA (PRIVATE) LIMITED |
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Registered Office : |
B-44 & 45, Korangi Creek Road, Karachi - 75190 |
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Country : |
Pakistan |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
0033360 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture and 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
GENIX PHARMA
(PRIVATE) LIMITED
Full Address
Registered Address & Factory
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B-44 & 45, Korangi Creek Road, Karachi - 75190, Pakistan |
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Tel |
92 (21) 111-101-011 |
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Fax |
92 (21) 111-101-022 |
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Website |
Short Description Of Business
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Nature of Business |
Manufacture
& Marketing of Pharmaceutical Products |
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Year Established |
1994 |
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Registration # |
0033360 |
Overseas Branch
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Address |
2 College Court, Gildersom, Leeds, LS27 7WF, United Kingdom |
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Tel # |
0845 8381122 |
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Fax # |
0845 8381133 |
Auditors
Rauf Ayub & Co.
(Chartered
Accountants)
504, Business Plaza,
Mumtaz Hasan Road, Karachi, Pakistan
Legal Status & Change of Name
Subject Company was incorporated by the name of “Karmann
Pharma (Private) Limited” then
afterwards it name was changed to “Genix Pharma (Private) Limited”
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Authorized Capital |
Rs. 50,000,000/- divided into 5,000,000 shares
of Rs. 10/- each |
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Issued & Paid up Capital |
Rs. 50,000,000/- divided into 5,000,000 shares
of Rs. 10/- each |
Details of Chief Executive/
Directors
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Names |
Nationality |
Address |
Occupation |
Designation |
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Mr. Mohammad Shahbaz Sharif Mr. Mohammad Israr
Sharif Mr. Tariq Anjum |
Pakistani Pakistani Pakistani |
B-44 & 45,
Korangi Creek Road, Karachi B-44 & 45, Korangi
Creek Road, Karachi B-44 & 45,
Korangi Creek Road, Karachi |
Business Business Service |
Chief Executive Director Company’s
Secretary |
Shareholders
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Names of Shareholders |
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Mr. Mohammad Shahbaz Sharif Mr. Mohammad Israr Sharif |
Associates
A. Subsidiary
None
B. Associated Companies
(1) Genix
Healthcare Ltd. U.K.
Products / Services
Manufacture &
marketing of Pharmaceutical Products including Antibiotics,
Antiulcerants, Haemostatics, Immunosuppressant and third generation Cephalosporin
Parental / Oral Formulations by its brand name of GEN-M, GEN-ART, ZOLERIC, RESPICARE, OXIFECT, S-FLOX, EFECIP, GENOVAX,
GRAT, GENFIX
Number of Employees
181
Trade Suppliers (Foreign)
ZHEJIANG JINGXIN PHARMACEUTICAL IMPORT & EXPORT, CHINA.
JIANGXI. MEDICINES AND HEALTH PRODUCTS, CHINA.
ZHEJIANG CHEMICALS IMPORT AND. EXPORT CORPORATION, CHINA.
HETERO DRUGS LIMITED, U.A.E.
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 |
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2006 |
200,000,000/-
(Estimated) |
Authorized Distributors
In Karachi, Multan, Faisalabad, Rawalpindi, Lahore, Peshawar
Bankers
(1) National Bank of
Pakistan, Pakistan.
(Mortgage obtained: PKR
19,391,000/-)
(2) Askari Commercial Bank Limited, Pakistan.
(3) Soneri Bank Limited, Pakistan.
(4) Bank Alhabib Limited, Pakistan.
Memberships
·
Pakistan Pharmaceutical Manufacturers Association.(PPMA)
- Karachi Chamber of Commerce & Industry.(KCCI)
Foreign Exchange Rates
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Currency |
Unit |
Pakistani Rupee |
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US Dollar |
1 |
Rs. 68.70 |
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UK Pound |
1 |
Rs. 136.05 |
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Euro |
1 |
Rs. 108.25 |
Comments
Subject Company was established in 1994 and
is engaged in manufacture & marketing of Pharmaceutical Products. Directors are reported as qualified, experienced and resourceful
businessmen. Trade relations are reported as fair. The Company can be
considered for normal business dealings at usual trade terms and 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%)