MIRA INFORM REPORT

Report Date :

18.01.2011

IDENTIFICATION DETAILS

Name :	FRIENDS PHARMA (PRIVATE) LIMITED

Registered Office :	2-Rasool Park, Ferozepur Road, Lahore

Country :	Pakistan

Year of Establishment :	1993

Com. Reg. No.:	0029342

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 :	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

FRIENDS PHARMA (PRIVATE) LIMITED

Full Address

Registered Address

2-Rasool Park, Ferozepur Road, Lahore, Pakistan

Tel #	92 (42) 35935121, 35935122
Fax #	92 (42) 35935123
Email	friends_pharma@yahoo.com

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Pharmaceutical Products
b.	Year Established	1993
c.	Registration #	0029342

Branches

Address	5/39, Lower Mall, Near Session Courts, Lahore, Pakistan
Tel #	92 (42) 37240971 - 73 (3 Lines)
Fax #	92 (42) 37114410

Factory Location

31 K.M. Ferozepura Road,

Lahore, Pakistan

Auditors

Nazir Ahmad Chaudhri

(Chartered Accountants)

Gardee Trust Building, Napier Road, Lahore, Pakistan

Legal Status

Subject Company was established as a Private Limited Company in 1993

Authorized Capital	Rs. 11,000,000/- divided into 1,100,000 shares of Rs. 10/- each
Issued & Paid up Capital	Rs. 1,000,000/- divided into 100,000 shares of Rs. 10/- each

Details of Chief Executive/ Directors

Names

Nationality

Address

Occupation

Designation

Mr. Nadeem Zafar

Mr. Muhammad Iqbal Khan

Mr. Abubakar Yousaf

Mrs. Sajeela Sarwar

Pakistani

14-C, Aibak Block, New Garden Town, Lahore

Business

Chief Executive

Director

Shareholders

Names

Mr. Nadeem Zafar

Mr. Muhammad Iqbal Khan

Mr. Abubakar Yousaf

Mrs. Sajeela Sarwar

Associates

A. Subsidiary

None

B. Associated Companies

(1) Shannza (Private) Limited, Pakistan.

Products / Services

Manufacture & marketing of Pharmaceutical Products by its brand names of ARTEMOSE, ARTISAF, BECLOTRIM, BEPRONATE, BETAMYCIN, BRAINAMAX, C-DOXIME, CEDRATE, CEFAROXIN, CEFROXIL, CIPFEN, COBAMIN, DERMICON, FAMCET, FLEXOREN, FLUFEND, FLURASAID, FRELEXIN, FRENDCOGEN, FRENDIK-P, FRENDIK-S, FROXTIN, GYTRIM, GYTRIM HC,INSTAZIN, INTEFRED, LEVOFEND, LIMICHOL, LORTAMINE, LOZAK, MEPRIUM, NIDACON, PANGIT, PEPROZOL, PILOXIN, PLANODERM, PREZIT, PRISM, PROFER, SIMPID, TELUKAST, ULCOZOL, VIOCEF, VIOXIME

Number of Employees

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	120,000,000/- (Estimated)

Authorized Distributors

Mainly exist at all major cities including Interior Sindh & Interior Punjab Areas

Bankers

· Habib Bank Limited, Pakistan.(Mortgage obtained PKR 60,000,000/-)

· The Bank of Punjab, Pakistan.

· Standard Chartered Bank, Pakistan.

Memberships

· Pakistan Pharmaceutical Manufacturers Association.(PPMA)

· Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 86.00
UK Pound	1	Rs. 135.74
Euro	1	Rs. 113.81

Comments

Subject Company was established in 1993 and is engaged in manufacture & marketing of Pharmaceutical Products. Market reputation is good. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms & conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.59
UK Pound	1	Rs.72.31
Euro	1	Rs.60.73

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.