MIRA INFORM REPORT

Report Date :

13.01.2011

IDENTIFICATION DETAILS

Name :	LOTUS PHARMACEUTICALS (PVT) LIMITED

Formerly Known As :	SERTO SURGICAL (PVT) LIMITED

Registered Office :	Plot No. 118-A, Street # 08, I-10/3 Industrial Area, Islamabad

Country :	Pakistan

Year of Establishment :	2004

Com. Reg. No.:	0048101

Legal Form :	Private Limited Company

Line of Business :	Manufacture & Marketing of Surgical Instruments

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

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

LOTUS PHARMACEUTICALS (PVT) LIMITED

(FORMERLY: SERTO SURGICAL (PVT) LIMITED)

Full Address

Registered Address & Factory

Plot No. 118-A, Street # 08, I-10/3 Industrial Area, Islamabad, Pakistan

Tel #	92 (51) 4446962, 4438369
Fax #	92 (51) 4438369
Email	lotuspharma@yahoo.com

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Surgical Instruments
b.	Year Established	2004
c.	Registration #	0048101

Branches

In Lahore at present

Auditors

Muniff Ziauddin Junaidy & Co.

(Chartered Accountants)

House No. 202-B, Street No. 2, Sector F-10/3, Islamabad, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 2004

Authorized Capital

Rs. 10,000,000/- divided into 100,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 8,510,000/- divided into 85,100 shares of Rs. 100/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Shaukat Ullah

Mr. Muhammad Ali Zubari

Mr. Aamir Mehboob

Mr. Muhammad Umair

Pakistani

Plot No. 118-A, Street # 08, I-10/3 Industrial Area, Islamabad

Business

Chief Executive

Director

Shareholders

Names of Shareholders

No. of Shares

Mr. Shaukat Ullah

Mr. Muhammad Ali Zubari

Mr. Aamir Mehboob

Mr. Muhammad Umair

Mr. Amjad Iqbal

40,051

45,010

Associates

A. Subsidiary

None

B. Associated Companies

(1) Fanoos Photo Studio Service, Pakistan.

(2) Olive Media Network, Pakistan.

(3) Ayian International, Pakistan.

Products

Manufacture & Marketing of Surgical Instruments.

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	100,000,000/- (Estimated)

Importing Countries

Subject mainly import from European Countries, India & China

Distributors

Mainly Trading Companies, Private Hospitals & Government Hospitals etc

Bankers

· Allied Bank Limited, Pakistan.

· MCB Bank Limited, Pakistan.

· Askari Bank Limited, Pakistan.

· Habib Bank Limited, Pakistan.

Memberships

· Rawalpindi Chamber of Commerce & Industry.(RCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 85.75
UK Pound	1	Rs. 132.99
Euro	1	Rs. 111.03

Comments

Subject Company was established in 2004 and is engaged in manufacture & marketing of Surgical Instruments. Market reputation is satisfactory. Trade relations are reported as fair. Subject 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.