MIRA INFORM REPORT

 

 

Report Date :

18.07.2012

 

IDENTIFICATION DETAILS

 

Name :

SELMORE PHARMACEUTICALS (PVT) LIMITED

 

 

Registered Office :

500, Shadman-1, Lahore

 

 

Country :

Pakistan

 

 

Year of Establishment :

1998

 

 

Com. Reg. No.:

0039705

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture & Marketing of Veterinary Pharmaceuticals and Medicines

 

 

No. of Employees :

102

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

SELMORE PHARMACEUTICALS (PVT) LIMITED

 

 

Full Address       

 

Registered Address

500, Shadman-1, Lahore, Pakistan

                       

Tel #

92 (42) 37591921, 37577361

Fax #

92 (42) 37591043

Email

selmore@brain.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business        

Manufacture & Marketing of Veterinary Pharmaceuticals and Medicines

b.

Year Established

1998

c.

Registration #

0039705

 

 

Branches

           

Address

SPL House, 82, R-1, Muhammad Ali Johar Town, Lahore, Pakistan

Tel #

92 (42) 35291774, 35291775

Fax #

92 (42) 35291776

 

 

Factory Location

           

Address

36-KM, Multan Road, Lahore, Pakistan

Tel #

92 (42) 35380381, 35380382, 35380383

Fax #

92 (42) 35380383

 

 

Auditors

 

Qavi & Co.

(Chartered Accountants)

Suite No. 10, 3rd Floor, 3-Civic Centre, New Garden Town, Lahore, Pakistan

 

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1998

 

 

Authorized Capital

Rs. 5,000,000/- divided into 50,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 5,000,000/- divided into 50,000 shares of Rs. 100/- each

 

 

Details of Directors

           

Names

Nationality

Address

Occupation

Designation

Mr. Akbar Ali Bhatti

 

 

 

Mrs. Shazia Akbar

Pakistani

 

 

 

 

Pakistani

 

 

SPL House, 82, R-1, Muhammad Ali Johar Town, Lahore

 

SPL House, 82, R-1, Muhammad Ali Johar Town, Lahore

Business

 

 

 

 

Business

 

 

Chief Executive

 

 

 

 

Director

 

 

 

 

Shareholders                

           

Names

No. of Shares

Mr. Akbar Ali Bhatti

 

Mrs. Shazia Akbar

30,000

 

20,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

                        None                                            

           

 

B.         Associated Companies

 

            - Do -

           

 

 

Business Activities

 

Manufacture & Marketing of Veterinary Pharmaceuticals and Medicines

 

 

Number of Employees

 

102

 

 

Actual Capacity & Production

 

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

2010

130,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

 

(1) HEBEI HUARI PHARMACEUTICAL CO. LTD, CHINA.

(2) SHANDONG PHARMACEUTICAL GLASS CO LTD, CHINA.

(3) JIANGYIN SUNWAY IMPORT & EXPORT CO LTD, CHINA.

 

 

Distributors Network

 

Mainly in Lahore, Karachi, Rawalpindi, Faisalabad & Multan

 

 

Bankers

 

(1) Allied Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) KASB Bank Limited, Pakistan.

(4) Bank Alfalah Limited, Pakistan.

 

 

 

Memberships

 

·         Lahore Chamber of Commerce & Industry.(LCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

           Rs. 94.80

UK Pound

1

           Rs. 146.70

Euro

1

           Rs. 116.10

 

 

Comments

 

Subject Company was established in 1998 and is engaged in manufacture & marketing of Veterinary Pharmaceuticals & Medicines. Trade relations are reported as fair. Company can be considered for normal business dealings at usual trade terms & conditions.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.15

UK Pound

1

Rs.86.30

Euro

1

Rs.67.73

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.