MIRA INFORM REPORT

Report Date :

11.11.2008

IDENTIFICATION DETAILS

Name :	PHARMIX LABORATORIES (PVT) LIMITED

Registered Office :	21-KM, Ferozepur Road Dullo Khurd, Lahore

Country :	Pakistan

Year of Establishment :	1995

Com. Reg. No.:	0035633

Legal Form :	Private Limited Company

Line of Business :	Manufacture and 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 :	No Complaints

Litigation :	Clear

Business Name

PHARMIX LABORATORIES (PVT) LIMITED

Full Address

Registered Address & Factory

21-KM, Ferozepur Road Dullo Khurd, Lahore, Pakistan

Tel	92 (42) 5274455, 5270181
Fax	92 (42) 5271181
Email	pharmix_labs@hotmail.com

Short Description Of Business

Nature of Business	Manufacture & Marketing of Pharmaceutical Products
Year Established	1995
Registration #	0035633

Branches

In Karachi at present

Auditors

Nasir Jamil & Co.

(Chartered Accountants)

Room # 68, 3^rd Floor, Hajver Complex, 2-Mozang Road, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1995

Authorized Capital	Rs. 6,000,000/- divided into 60,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 3,100,000/- divided into 31,000 shares of Rs. 100/- each

Details of Chief Executive/ Directors

Names

Nationality

Address

Occupation

Designation

Mr. Fazal Rahim

Mr. Fayyaz Ahmad

Mr. Shahzad Ahmad

Pakistani

21-KM, Ferozepur Road Dullo Khurd, Lahore

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Fazal Rahim

Mr. Shahzad Ahmed

Mr. Fayyaz Ahmed

Mrs. Ashfa Ahmed

Mrs. Faiza Shahzad

7,280

6,660

8,560

3,750

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Products / Services

Manufacture & marketing of Pharmaceutical Products by its brand names of ACURE, ALERGO, ANAPEN FORTE, ANIZOL, ANXNIL, CATOPER, CORDIUM, DUTRAN, EMIDONE, EXELIP, LORATE, MIZOLE, NEOFLOX, PANSOL, PROVIN, RAPIFEN, SENIZOLE, ULCOFIN

Number of Employees

130

Trade Suppliers (Foreign)

ADVAN PHARMACHEM CO. LTD, CHINA.
ZHEJIANG HUALIAN PHARMACEUTICAL MACHINERY CO. LTD, CHINA.
JIANGSU NHWA PHARMACEUTICAL GROUP 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

Year	In Pak Rupees
2006	120,000,000/- (Estimated)

Authorized Distributors

Mainly in Karachi, Rawalpindi, Lahore, Multan etc

Bankers

Bank Alfalah Limited, Pakistan.
NIB Bank Limited, Pakistan.
Standard Chartered Bank, Pakistan.

Memberships

· Pakistan Pharmaceutical Manufacturers Association.(PPMA)

· Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 81.00
UK Pound	1	Rs. 127.15
Euro	1	Rs. 103.30

Comments

Subject Company was established in 1995 and is engaged in manufacture & marketing of Pharmaceutical Products. Overall reputation is satisfactory. Trade relations are reported as fair. Company can be considered for normal business dealings at usual trade terms & conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.59
UK Pound	1	Rs.74.55
Euro	1	Rs.60.57

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