MIRA INFORM REPORT

 

 

Report Date :           

29.06.2011

 

IDENTIFICATION DETAILS

 

Name :

STAR LABORATORIES (PVT) LIMITED

 

 

Registered Office :

23-Km, Multan Road (Chung) 53800, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

1960

 

 

Com. Reg. No.:

0006071  

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturing of Human,Veterinary & Poultry Medicines

 

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 – 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

 

STAR LABORATORIES (PVT) LIMITED

 

 

Full Address       

 

Registered Address & Factory

23-Km, Multan Road (Chung) 53800, Lahore-Pakistan

                       

Tel #

92 (42) 37511331, 37510690, 37512621, 37512622

Fax #

92 (42) 37510163, 37512622

Website

www.starlabs.com.pk

Email

starlab@brain.net.pk

 

 

Short Description Of Business

a.

Nature of Business        

Manufacturing of Human,Veterinary & Poultry Medicines

b.

Year Established

1960

c.

Registration #

0006071  

 

 

 

 

 

Sales Office

 

Veterinary Medicines Dept

 23-KM, Multan Road Lahore, Lahore, Pakistan.            

 

Human Medicines Dept

125-A, Canal View, Thoker Niaz Beig, Lahore, Pakistan.

 

 

Auditors

 

Rashid Jahangir & Co.

(Chartered Accountants)

Room # 34, 2nd Floor, Sadiq Plaza, The Mall, Lahore, Pakistan

 

 

Legal Status

 

Subject was established as a Partnership business in 1960 then afterward its legal status was changed to Private Limited Company in 1978

 

 

Authorized Capital

Rs. 12,500,000.00

Issued & Paid up Capital

Rs. 11,750,000.00

 

 

Details of Directors

 

Names

Designation

Mr. Iqbal Hussain Malik

 

Mrs. Salma Malik

 

Mr. Muhammad Asrar Hussain Malik

 

Mr. Muhammad Asher Hussain Malik

Chief Executive

 

Director

 

Director

 

Director

 

 

Shareholders

 

Names

No. of Shares

Mr. Iqbal Hussain Malik  

 

Mrs. Salma Malik          

 

Mr. Sardar Ghulam Ahmad   

 

Mr. Malik Ashfaq Hussain  

 

Mrs. Parveen Siddiqi      

 

Mr. Mian Mohd Fayyaz       

 

Mr. Mohd Bashir             

 

Mr. Mian Ghulam Rabbani    

 

Mr. Mohd Saeed             

 

Mr. Ghulam Mohiuddin Bhatti

 

Mr. Mohd Nazir             

 

Mr. Nasim Akhter           

 

Mr. Shamim Akhter         

 

Mr. Mohd Yunus

         

Mr. Mohd Jameel            

 

Mr. Avais Ejaz              

 

Mr. Attiq Ejaz             

 

Mr. Mohsin Ali Ahmed       

 

Mr. Mohd Yusuf             

 

Mrs. Nasreen Iqbal         

 

Miss Mudassara Iqbal       

 

Mr. Muhammad Asrar Hussain Malik                       

 

Mr. Muhammad Asher Hussain Malik                        

 

Mr. Mian Mohd Sameer        

 

Mrs. Mehar Shaukat Ali      

 

Mr. Naveed Akber Qureshi    

 

Mr. Rehmat Ullah            

254,501

 

11,613

 

29,573

 

18,900

 

11,813

 

5,100

 

3,000

 

6,000

 

8,000

 

7,000

 

4,000

 

9,000

 

12,500

 

6,000

 

l6,000

 

3,000

 

3,000

 

2,000

 

5,000

 

99,000

 

99,000

 

99,000

 

99,000

 

99,000

 

99,000

 

90,000

 

85,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

            None                              

           

B.         Associated Companies

 

(1) Champion Trading Corporation, Pakistan

 

 

 

Products

 

Manufacture & Marketing of Medicine for Human and veterinary / Poultry use.

 

 

Number of Employees

 

307

 

 

Annual Production Capacity

 (Combined Human & Veterinary Division)

 

SECTION

RATED CAPACITY ON SINGLE SHIFT BASIS

UTILIZED CAPACITY

UN-UTILIZED CAPACITY

INJECTIONS:

 

 

 

Ampoules

70800000 Nos.

42480000 Nos.

28320000 Nos.

Vials

9600000 Nos.

5760000 Nos.

3840000 Nos.

Solutions

240000 Ltr.

144000 Ltr.

96000 Ltr.

TABLETS:

 

 

 

Tablets

213600000 Nos.

128160000 Nos.

85440000 Nos.

Boluses

7200000 Nos.

4320000 Nos.

2880000 Nos.

OINTMENTS:

 

 

 

Ointments

1728000 Tubes

NIL

1728000 Tubes

LIQUIDS:

 

 

 

Syrup/Drops

614400 Ltr.

368640 Ltr.

245760 Ltr.

CAPSULES:

 

 

 

Capsules

9600000 Nos.

4500000 Nos.

5100000 Nos.

POWDERS:

 

 

 

Formulated

30000000 Pkt.

15000000 Pkt.

15000000 Pkt.

Repacked

2880000 Jars/Bags

1728000 Jars/Bags

1152000 Jars/Bags

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2009

500,000,000/- (Estimated)

 

 

Export to

 

Mainly to Saudi Arabia, Kuwait, Srilanka, Nigeria, Sudan, U.A.E., Mauritius and Mauritania.

 

 

Customers

 

In all major cities of Pakistan and 10 countries of the world.

 

 

Import Turnover

 

Year

In US Dollar ($)

2008

2,500,000/- (Estimated)

 

 

Bankers

 

·         Bank Al-Habib Limited.

·         Bank Al-Falah Limited.

·         MCB Bank Limited, Pakistan.

·         Standard Chartered Bank, Pakistan.

·         Habib Bank Limited, Pakistan.

·         Faysal Bank Limited, Pakistan.

 

 

Future Plans

 

Many new products has been obtained and being added into production. The Human Medicines Section is being re-organized with the view to enhance its productivity and sales. Sales promotion of proprietary drugs is being arranged so as to mobilize the sales promotion department. On veterinary side, endeavors are being stepped up to obtain local manufacturing rights of productions of foreign manufacturers, especially, which are already registered and being sold in Pakistan. In order to increase sales of human medicines, registration of Star Laboratories with major government institutions have been applied and being followed up. For the implementation of above program the induction of new investors on the basis of equity participation or joint venture is being solicited.

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.(LCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

            Rs. 86.05

UK Pound

1

            Rs. 137.70 

Euro

1

            Rs. 122.60

           

 

Comments

 

Star Laboratories (Pvt.) Limited was established in 1960 and is engaged in manufacture & export of Live Saving Drugs and Medicines for human and veterinary  / poultry use. Company’s market reputation is good. 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.45.05

UK Pound

1

Rs.71.92

Euro

1

Rs.64.37

 

 

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.