MIRA INFORM REPORT

Report Date :

24.08.2011

IDENTIFICATION DETAILS

Name :	CAYLEX PHARMACEUTICALS (PVT) LIMITED

Registered Office :	84-C, New Muslim Town, Lahore

Country :	Pakistan

Year of Establishment :	1998

Com. Reg. No.:	0038859

Legal Form :	Private Limited Company

Line of Business :	Manufacture & Marketing of Pharmaceutical Products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	No Complaints

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Bottom of Form

Business Name

CAYLEX PHARMACEUTICALS (PVT) LIMITED

Full Address

Registered Address

84-C, New Muslim Town, Lahore, Pakistan

Tel #	92 (42) 35847583, 35847584
Fax #	92 (42) 35847579

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Pharmaceutical Products
b.	Year Established	1998
c.	Registration #	0038859

Factory Location

Address	27-K.M., Main Raiwind Road, Lahore, Pakistan
Tel #	92 (42) 35330038, 35330039
Fax #	92 (42) 35330038

Auditors

Riaz Ahmad & Co.

(Chartered Accountants)

Legal Status

Subject Company was established as a Private Limited Company in 1998

Authorized Capital	Rs. 10,000,000/- divided into 1,000,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 6,450,000/- divided into 645,000 shares of Rs. 10/- each

Details of Management

Names

Nationality

Address

Occupation

Designation

Mr. Muhammad Hamayun Riasat

Mr. M. Ashraf Butt

Mrs. Fehmida Sajida

Pakistani

27-K.M., Main Raiwind Road, Lahore

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. M. Ashraf Butt

Mrs. Fehmida Sajida

483,750

161,250

Products

Manufacture & marketing of Pharmaceutical Products by its brand names of ANORAM, CAZYINE, FROBAFEN, NOTRES, TINOCARD-100, ATCORA, CAYZOLE, MALARIDOX, PPI-20, TINOCARD-50, AZOROX, CEFTI, NAPRIL, PUROD, CALOTREN, FAPA, NOBAR, ROCOCIN

Number of Employees

Annual Production Volume

The capacity and production of the company’s plant is indeterminable as it is multi-product and involves varying processes of manufacture.

Annual Sales Volume

Year	In Pak Rupees
2009	120,000,000/- (Estimated)

Trade Suppliers (Foreign)

Subject mainly import from Companies belongs to India, China & European Countries

Distributors Network

Mainly exist at major cities of Pakistan

Bankers

· Soneri Bank Limited, Pakistan.

· Habib Metropolitan Bank Limited, Pakistan.

· Bank Alfalah Limited, Pakistan.

· Allied Bank Limited, Pakistan.

· United Bank Limited, Pakistan.

Memberships

· Lahore Chamber of Commerce & Industry.(LCCI)

· Pakistan Pharmaceutical Manufacturers Association.(PPMA)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupees
US Dollar	1	Rs. 86.55
UK Pound	1	Rs. 142.20
Euro	1	Rs. 124.10

Comments

Subject Company was established in 1998 and is engaged in manufacture & marketing of Pharmaceuticals Products. Market 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.45.69
UK Pound	1	Rs.75.29
Euro	1	Rs.65.77

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	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
----	NB	New Business	----

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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