MIRA INFORM REPORT

 

 

Report Date :

18.02.2011

 

IDENTIFICATION DETAILS

 

Name :

WREX PHARMACEUTICALS (P) LTD.

 

 

Registered Office :

8/482 Watu Tole,Kathmandu

 

 

Country :

Nepal

 

 

Financials (as on) :

15.07.2009

 

 

Date of Incorporation :

03.05.2007

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Pharmaceutical Company

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Regular

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Nepal

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Wrex Pharmaceuticals (P) Ltd.

8/482 Watu Tole,Kathmandu, Nepal

Email::              wrex@opl.com.np

Phone:              977 01 5560652  

 

 

Company summary

 

History :           It is a private limited company incorporated at Kathmandu under His Majesty  Govt. Act No.32152

of 03.05.2007.

 

Directors :         1.         B. K. Shrestha.

2.         R. K. Tuladhar.

3.         S. Hamal.

 

 

Bankers :          1.         Nepal Bank Ltd., Kathmandu (Nepal)

2.                   Nepal Grindlays Bank, Kathmandu (Nepal)

3.                   Nepal Banijya Bank, Kathmandu (Nepal)

 

Shareholders :               Director and Their relative hold all shares.

 

Auditors:           M/B K Agarwal & Co., Putli Sadak., Kathmandu (Nepal)

 

Business :        

 

Wrex Pharmaceuticals (P) Ltd  is one of the much-talked company, in the pharmaceuticals fraternity of Nepal as because of heavy investment done in the project with the capabilities of producing the medicines for every dosage form (i.e. Tablets, Capsules, Liquids & Ointments) Moreover, OPL owns the collection of professional expertise as the people to work for it with the better attitude to offer the excellence to all of its valued customers through the integrity & teamwork. In a nutshell, OPL has passion to excellence in every regard to serve the Nepalese Pharmaceutical Industry & Health Sector as its best.

 

·         (Ofloxacin 200/400 mg) Tablets

·         Potent against gram positive & anaerobes.

·         Covers both common & atypical organisms with low incidence of primary resistance.

·         Penetration into key fluids & tissues.

·         Powerful yet well tolerated.

 

Trade trams       :           Germany, UK, Swizerland.

Financial:                                           

BALANCE SHEET AS AT 15th JULY, 2009

 

LIABILITIES

NP. RUPEES

ASSETS

NP. RUPEES

Authorised Capital

60,000,000

Fixed Assets

63,913,740

Paid up Capital

49,787,500

Cap. Work in Progress

1,080,852

Reserve & Surplus

11,331,261

Current Assets

49,674,391

Secured Loans

50,337,942

Deferred Tax Net

99,000

Unsecured Loans

3,348,332

Miscns. Expenses

37,052

Total Nep. Rs.

114,805,035

Total Nep. Rs.

114,805,035

 

Sales                            :           Nep Rs.77,014,028/-

Profit of this year            :           Nep Rs.  7,075,182/-

Deferred Tax Adjust        :           Nep Rs.   1,270,344/-

Net Profit                       :           Nep Rs.      331,261/-

 

Remarks :         Payments are reported to be correct and regular as per commitments.  Trade relations are fair. Consider good for normal business engagement.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.38

UK Pound

1

Rs.73.08

Euro

1

Rs.61.60

 

 

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

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.