MIRA INFORM REPORT

 

 

Report Date :

16.06.2011

 

IDENTIFICATION DETAILS

 

Name :

AVICENNA LABORATORIES (PRIVATE) LIMITED

 

 

Registered Office :

Flat No. 6-C, Second Floor, Angola Flats, 24-Jail Road, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

1997

 

 

Com. Reg. No.:

0038377

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture & Marketing of Medicines for Poultry, Human Beings & Animals 

 

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 :

Unknown

 

 

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, 2010

 

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

 

Business Name

 

AVICENNA LABORATORIES (PRIVATE) LIMITED

                                   

 

Full Address       

 

Registered Address

Flat No. 6-C, Second Floor, Angola Flats, 24-Jail Road, Lahore, Pakistan

                       

Tel #

92 (42) 37551529, 37589554

Fax #

92 (42) 37589554

 

 

Short Description Of Business

a.

Nature of Business        

Manufacture & Marketing of Pharmaceutical Products

b.

Year Established

1997

c.

Registration #

0038377

 

 

 

 

 

 

 

Factory Location

 

14 K.M., Sheikhupura Faisalabad

Road, Bhikki District, Punjab,

Pakistan

 

 

Auditors

 

Usman Zubair & Co.

(Chartered Accountants)

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1997

 

 

Authorized Capital

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

Issued & Paid up Capital

Rs. 7,000,000 divided into 70,000 shares of Rs. 100/- each

Details of Directors

 

Names

Nationality

Address

Designation

Mr. Rana Muhammad Jamil Khan

 

 

 

Mr. Dilshad Muhammad

Pakistani

 

 

 

 

Pakistani

 

Flat No. 6-C, Second Floor, Angola Flats, 24-Jail Road, Lahore

 

Flat No. 6-C, Second Floor, Angola Flats, 24-Jail Road, Lahore

Chief Executive

 

 

 

 

Director

 

 

 

 

Shareholders                

           

Names

No. of Shares

Mr. Rana Muhammad Jamil Khan

 

Mr. Dilshad Muhammad

35,000

 

35,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

Subsidiary

 

None                                            

           

Associated Companies

 

(1) Sarhad Traders, Pakistan.

 

 

Products

 

Manufacture & Marketing of Medicines for Poultry, Human Beings & Animals 

 

           

Number of Employees

 

85

 

 

 

 

 

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

80,000,000/- (Estimated)

 

 

Importing Countries

 

Import of Pharmaceutical Raw Materials from China, Austria, India & Germany 

 

 

Trade Suppliers (Foreign)

 

(1) ZHEJIANG HUALYI PHARMACEUTICAL CO. LTD, CHINA.

(2) STARWAY CO. LIMITED, CHINA.

 

 

Distribution Network

 

Mainly exist at Lahore, Interior Parts of Punjab, Multan, Faisalabad, Rawalpindi & Faisalabad

 

 

Bankers

 

(1) United Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) Bank Alfalah Limited, Pakistan.

(4)     Allied Bank Limited, Pakistan.

(5)     Soneri Bank Limited, Pakistan.

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.

 

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

          Rs. 85.80

UK Pound

1

          Rs. 140.20 

Euro

1

          Rs. 123.30

 

 

Comments

 

Subject Company was established in 1997 and is engaged in manufacture & marketing of Medicines for Poultry, Human Beings & Animals. 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.44.68

UK Pound

1

Rs.73.04

Euro

1

Rs.64.29

 

 

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.