MIRA INFORM REPORT

 

 

Report Date :           

11.06.2011

 

IDENTIFICATION DETAILS

 

Name :

ISIS PHARMACEUTICAL AND CHEMICAL WORKS

 

 

Registered Office :

307 - Wahab Arcade, M.A. Jinnah Road, Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

2003

 

 

Legal Form :

Proprietorship

 

 

Line of Business :

Manufacture & Marketing of Pharmaceutical Products

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Pakistan

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Business Name

 

ISIS PHARMACEUTICAL AND CHEMICAL WORKS

 

 

Full Address       

 

Registered Address

307 - Wahab Arcade, M.A. Jinnah Road, Karachi, Pakistan

                       

Tel #

92 (21) 32626625, 32626474

Fax #

92 (21) 32629654 

Email

krka-pak@cyber.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture & Marketing of Pharmaceutical Products

b.

Year Established

2003

c.

National Tax #

0701672

 

 

Factory Location

 

Address

25/1-3, Sector 12-C, North Karachi Industrial Area, Karachi, Pakistan

Tel #

92 (21) 36954523

Fax #

92 (21) 36951802

 

 

Legal Status

 

Subject Company was established as a Proprietorship business in 2003

 

 

Details of Management

 

Names

Nationality

Address

Occupation

Designation

Mr. Sheikh. Muhammad Ahmed

 

 

Mr. Shakil Ahmed Chandna

 

Pakistani

 

 

 

Pakistani

 

 

307 - Wahab Arcade, M.A. Jinnah Road, Karachi

 

307 - Wahab Arcade, M.A. Jinnah Road, Karachi

Business

 

 

 

Business

 

 

Proprietor

 

 

 

Manager (Import)

 

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                                              

           

B.         Associated Companies

 

(1)     Hyderi International (Pvt) Limited, Pakistan.

(2)     Conagent (Pvt) Limited, Pakistan.

(3)     Elko Organisation (Private) Limited, Pakistan.

(4)     Krka-Pak Pharmaceutical & Chemical Works, Pakistan.        

 

 

Products

 

(1) Subject Company is engaged in manufacture & marketing of Pharmaceutical Products.

 

(2)   It purchases raw material against D/A, L/C basis.

 

(3) Its’ major customers are Distributors, Traders, Pharmacies & Hospitals located in Karachi, Lahore & Rawalpindi.

 

(4) Subject operates from caption leased factory premises of area measuring   2,500 Sq.Yard. which is situated at industrial area of Karachi.

 

(5)  Subject employs about 58 persons in its set up.

 

 

Products

           

·         NOVOPRIN, NOVOQUINE, NOVOSAL, NOVOTOX, NOVOTRACIN, NOVOTRAN, NOVOTRYPSIN, NOVOVATE-N, NOVOZOLE, NOVOZOLIDONE, NOVOZYME, RUBEX, SCABIZYL, SIMILONE, VERAZINE, VEST BALM, VITAMIL, VITCOM

 

 

Annual Sales Volume

 

Year
In Pak Rupees

2009

50,000,000/- (Estimated)

 

 

 

Capacity & Production

           

The capacity and production of the company’s plant is indeterminable as it is multi- product and involves various processes of manufacture.

 

 

Trade Suppliers

(Foreign)

 

(1) PURAC ASIA PTE LIMITED, SINGAPORE.

 

(2) NORTH CHINA PHARMACEUTICAL GROUP, CHINA.

 

(3) TIANJIN PHARMACEUTICAL, HONG KONG.

 

(4) ROYAL PHARMA, INDIA.

 

(5) WUHAN YUANCHENG TECHNOLOGY DEVELOPMENT CO LTD, CHINA.

 

 

Authorized Distributors

 

Mainly in Karachi, Lahore & Rawalpindi

 

 

Bankers

 

·         United Bank Ltd, Pakistan.

·         MCB Bank Limited, Pakistan.

·         Habib Bank Limited, Pakistan.

·         Allied Bank Limited, Pakistan.

 

 

Memberships

 

·         Karachi Chamber of Commerce & Industry.(KCCI)

 

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 85.70

UK Pound

1

           Rs. 139.80

Euro

1

           Rs. 123.80

 

 

Comments

 

Subject Company was established in 2003 and is engaged in manufacture & marketing of Pharmaceutical Products. 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.44.72

UK Pound

1

Rs.72.93

Euro

1

Rs.64.72

 

 

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.