MIRA INFORM REPORT

Report Date :

13.01.2011

IDENTIFICATION DETAILS

Name :	ARIES PHARMACEUTICAL (PVT) LIMITED

Registered Office :	47-Amin Mansion, G.T. Road, Peshawar

Country :	Pakistan

Year of Establishment :	1997

Com. Reg. No.:	0038404

Legal Form :	Private Limited Company

Line of Business :	Manufacture & 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 :	Unknown

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)

Pakistan

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

Business Name

ARIES PHARMACEUTICAL (PVT) LIMITED

Full Address

Registered Address

47-Amin Mansion, G.T. Road, Peshawar, Pakistan

Tel #	92 (91) 2217542, 2218476
Fax #	92 (91) 2212239
Email	ariespharma@hotmail.com

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Pharmaceutical Products
b.	Year Established	1997
c.	Registration #	0038404

Factory Address

Address	1-W, Industrial Estate, Hayatabad, Peshawar, Pakistan
Tel #	92 (91) 5829747, 5829748
Fax #	92 (91) 5830163

Auditors

M/s Dilroze Khan & Co.

(Chartered Accountants)

2^ndFloor, F.C. Trust Building, Sunehri Masjid Road, Peshawar Cantt, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1997

Authorized Capital	Rs. 10,000,000/- divided into 100,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs 6,050,000/- divided into 60,500 shares of Rs. 100/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Ghulam Sarwar Khan

Mr. S.S. Bukhari

Mr. M. Yousaf Sarwar Khan

Pakistani

47-Amin Mansion, G.T. Road, Peshawar

Business

Chief Executive

Director

Shareholders

Names

Mr. Ghulam Sarwar Khan

Mr. S.S. Bukhari

Mr. M. Yousaf Sarwar Khan

Associates

A. Subsidiary

None

B. Associated Companies

(1) Sunny Marketing Services, Pakistan

Products

Manufacture & Marketing of Pharmaceutical Products by its brand name including ADVIL, ALEVE, ALORAN, APTON, ARIFLOX, BACIDAL, CEFRADIN, EXCEDRIN EXTRA, FLAGYNASE, GLACTIL, HAEMATIC-F, KEFOLOR, PAXIL, PENETREX, PEPTIMA-V, PRILOSEC, QUIXIN, RELIZIN, ROCICIAN, SERAX, SPECTRACEF

Number of Employees

Annual Sales Volume

Year	In Pak Rupees
2009	37,000,000/- (Estimated)

Trade Suppliers

(Foreign)

Subject represent some companies regarding pharmaceutical raw material belongs to India, China & Europe

Customers

Mainly Individuals, Retailers, Pharmacies, Hospitals located in Peshawar & Quetta.

Bankers

(1) MCB Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.(Mortgage obtained PKR 22,127,000/-)

(3) Faysal Bank Limited, Pakistan.

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 85.90
UK Pound	1	Rs. 134.37
Euro	1	Rs. 112.09

Comments

Subject Company was established in 1997 and is engaged in manufacture & marketing of Pharmaceutical Products. Trade relations are reported as fair. Subject Company can be considered for normal business dealings at usual trade terms and conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.16
UK Pound	1	Rs.70.64
Euro	1	Rs.58.68

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