MIRA INFORM REPORT

 

 

Report Date :

24.01.2011

 

IDENTIFICATION DETAILS

 

Name :

BROOKES PHARMACEUTICAL LABORATORY  (PAKISTAN) LIMITED

 

 

Registered Office :

Plot # 58, Sector 15, Korangi Industrial Area, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

1984

 

 

Com. Reg. No.:

0012508           

 

 

Legal Form :

Unquoted 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

 

BROOKES PHARMACEUTICAL LABORATORY  (PAKISTAN) LIMITED

 

 

Full Address       

 

Registered Address & Factory

Plot # 58, Sector 15, Korangi Industrial Area, Karachi, Pakistan

                       

Tel #

92 (21) 35066281, 35066282

Fax #

92 (21) 35060505, 35060005

Email

brookes@cyber.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture & Marketing of Pharmaceutical Products

b.

Year Established

1984

c.

Registration #

0012508

 

 

Branches

 

In Karachi, Lahore & Islamabad

 

 

Auditors

 

Bilwani & Co.

(Chartered Accountants)

12, Idrees Chamber, Talpur Road, Karachi, Pakistan

 

 

Legal Status

 

Subject Company was incorporated as an unquoted limited company in 1984

 

Authorised Capital           

Rs. 55,000,000/- divided into 5,500,000 shares of Rs. 10/- each

Issued & Paid up Capital

Rs. 51,400,000/- divided into 5,140,000 shares of Rs. 10/- each

 

 

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Abdul Haseeb Khan

 

 

 

Mr. Nadeem Khan

 

 

 

Mr. Waseen I. Khan

 

 

 

Mr. Saleem Khan

 

 

 

Mrs. Ishrat Haseeb

 

 

 

Mrs. Farhat Nadeem

 

 

 

Mrs. Nudrat Khan

 

 

 

Mrs. Roohi Saleem

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

 

 

Pakistani

 

43-3-B, Block 6, P.E.C.H.S., Karachi

 

43-3-B, Block 6, P.E.C.H.S., Karachi

 

43-3-B, Block 6, P.E.C.H.S., Karachi

 

43-3-B, Block 6, P.E.C.H.S., Karachi

 

43-3-B, Block 6, P.E.C.H.S., Karachi

 

43-3-B, Block 6, P.E.C.H.S., Karachi

 

43-3-B, Block 6, P.E.C.H.S., Karachi

 

43-3-B, Block 6, P.E.C.H.S., Karachi

Business

 

 

 

Business

 

 

 

Business

 

 

 

Business

 

 

 

Business

 

 

 

Business

 

 

 

Business

 

 

 

Business

 

Chief Executive

 

 

 

Director

 

 

 

Director

 

 

 

Director

 

 

 

Director

 

 

 

Director

 

 

 

Director

 

 

 

Director

 

 

 

 

 

 

Shareholders                

 

Names

No. of Shares

Mr. Abdul Haseeb Khan

 

Mr. Nadeem Khan

 

Mr. Waseen I. Khan

 

Mr. Saleem Khan

 

Mrs. Ishrat Haseeb

 

Mrs. Farhat Nadeem

 

Mrs. Nudrat Khan

 

Mrs. Roohi Saleem

 

M/s Merz & Co.

637,500

 

637,500

 

637,500

 

637,500

 

637,000

 

637,500

 

637,500

 

637,500

 

40,000

 

 

Products

 

ACURON, ANTICHOL, ARNIL, ATROPINE, CONTRACTUBEX, CORAM, CORYTON, D CORT, DICILLIN, DOSTIN, EXALYN, HEPA MERZ, HYPOZAM, MINOXIN, MINOXIN PLUS, NEO-CHOLINE, OMESEC, OXOFERIN, P-XONE, PANCRON, PHLOGIN, PK MERZ, PONSAC, PONSAC FORTE, PYODINE, PYROLATE, PYROLATE-N, QUINOX, RHINOTUSSAL, RYXON, SEFRIN, SUXA-CHOLINE, VIRU MERZ, VITA BROOKES PLUS, XIDIM

 

           

Number of Employees

 

230      

 

 

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

650,000,000/- (Estimated)

 

Trade Suppliers

(Foreign)

 

·         MERZ & CO. GERMANY.

·         KLINGE PHARMA, GERMANY.

·         OXO-CHEMIE, GERMANY.

·         HEINRICH MACK, GERMANY.

·         CHANGZHOU SIYAO PHARMACEUTICAL LTD., CHINA

·         JIANGSU GUOTAI INTL., CHINA.

·         SHANGHAI DISON CHEM LTD., CHINA.     

 

 

Distributors Network

 

Mainly exist at all major cities of Pakistan

 

 

Exporting Countries

 

Mainly to Middle East and European Countries

 

 

Bankers

 

·         The Royal Bank of Scotland, Pakistan.

·         Citibank N.A., Pakistan.

·         Faysal Bank Limited, Pakistan.

·         Habib Metropolitan Bank Limited, Pakistan.

·         Faysal Bank Limited, Pakistan.

 

 

Memberships

 

·         Pakistan Pharmaceutical Manufacturers Associations.

·         Karachi Chamber of Commerce & Industry.

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 85.85

UK Pound

1

           Rs. 136.52

Euro

1

           Rs. 116.39

 

 

Comments

 

Subject Company was established in 1984 and is engaged in manufacture & marketing of Pharmaceutical Products. Directors are reported as resourceful and experienced businessmen. 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.45.70

UK Pound

1

Rs.72.78

Euro

1

Rs.61.65

 

 

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.