MIRA INFORM REPORT

 

 

Report Date :

14.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

EFROZE CHEMICAL INDUSTRIES (PVT) LIMITED

 

 

Registered Office :

12-C, Block-6, P.E.C.H.S., Off. Shahrah-e-Faisal, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

1976

 

 

Com. Reg. No.:

0005530

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture & Marketing of Pharmaceutical Products

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

                       

Business Name

 

EFROZE CHEMICAL INDUSTRIES (PVT) LIMITED

 

 

Full Address       

 

Registered Address

12-C, Block-6, P.E.C.H.S., Off. Shahrah-e-Faisal, Karachi, Pakistan

                       

Tel #

92 (21) 111-337-337

Fax #

92 (21) 34545266

Email

asferoze@hotmail.com

 

 

Short Description Of Business

 

a.

Nature of Business           

Manufacture & Marketing of Pharmaceutical Products

b.

Year Established

1976

c.

Registration #

0005530

 

 

Branches

           

In Lahore & Islamabad

           

 

Factory Location

           

146/23 Korangi Industrial Area,

Karachi-74900 - Pakistan

 

 

Auditors

 

Muhammad Farooq & Co.

(Chartered Accountants)

113-115, Technocity Office Tower, Off: I.I. Chundrigar Road, Karachi, Pakistan

 

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1976

 

 

Authorized Capital

Rs. 180,000,000/- divided into 1,800,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 150,000,000/- divided into 1,500,000 shares of Rs. 100/- each

 

 

Details of Chief Executive/ Directors

           

Names

Designation

Mr. Muhammad Abdullah Feroze

 

Mr. Mehtabuddin Feroze

 

Mr. Shafiuddin Feroze

 

Mr. Yahya Feroze

 

Mr. M. Taufiq Feroze

 

Mr. Sohail Feroz

 

Mr. Nazimuddin Feroz

 

Mr. Mumtazuddin Feroze

Chief Executive

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Mr. Muhammad Abdullah Feroze

 

Mr. Mehtabuddin Feroze

 

Mr. Shafiuddin Feroze

 

Mr. Yahya Feroze

 

Mr. M. Taufiq Feroze

 

Mr. Sohail Feroz

 

Mr. Nazimuddin Feroz

 

Mr. Mumtazuddin Feroze

 

Mr. Sultan Ahmed Feroze

150,000

 

180,000

 

180,000

 

150,000

 

150,000

 

150,000

 

180,000

 

180,000

 

180,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                                             

           

B.                  Associated Companies

 

(1)     S. Ejazuddin & Co., Pakistan.

(2)     Otsuka Pakistan Limited, Pakistan.

(3)     Health Care Products, Pakistan.

(4)     Multi-Tech Marketing Services, Pakistan.

(5)     Uniferoz, Pakistan.

(6)     Efrotech, Pakistan.

(7)     Hospital Supply Corporation, Pakistan.

(8)     Maple Pharmaceuticals (Pvt) Limited, Pakistan.

 

 

Products / Services

 

Manufacture & marketing of different pharmaceutical class like Anti Biotic, Anti Malarials, Anti-Rheumatic, Antihistamine, Narcotic Analgesic, Non Steroidal Respiratory Anti Inflamatory, Quinolones, Vitamins, Phenothiazine, Hypolipidaemics, Muscle Relaxant, Amoebicide, Calcium-Antagonist, Cardio Selective Beta Blocker with their brand names of  ACILIN, ACORET, ACORET-P, ALPAX, AMOKING, ASCOVIT, ASPIRIN etc

 

 

Number of Employees

           

270

 

 

Trade Suppliers

(Foreign)

 

·         BORYUNG, KOREA.

·         ITALFARMACO, ITALY.

·         SHIN POONG, KOREA.

·         JOINT-VENTURE WITH OTSUKA, JAPAN.

·         MAPLE PHARMACEUTICALS, CANADA.

 

 

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

2009

600,000,000/- (Estimated)

 

 

Authorized Distributors

 

Mainly exist at all major cities of Pakistan

 

 

Bankers

 

·         Habib Metropolitan Bank Limited, Pakistan.

·         Habib Bank Limited, Pakistan.

·         MCB Bank Limited, Pakistan.

·         Bank Alfalah Limited, Pakistan.

·         United Bank Limited, Pakistan.

 

 

Memberships

 

·         Pakistan Pharmaceutical Manufacturers Association.(PPMA)

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

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

 

Efroze Group enjoys good reputation in Pakistan as well as in abroad. All the directors of the Company are reported as qualified, experienced and resourceful businessmen. Payments are usually correct and as per commitments. The 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.45.13

UK Pound

1

Rs.71.05

Euro

1

Rs.59.10

 

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%)

 

 

 

 

 

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.