MIRA INFORM REPORT

Report Date :

15.06.2012

IDENTIFICATION DETAILS

Name :	PRIX PHARMACEUTICA (PVT.) LIMITED

Registered Office :	26, Abbot Road, Lahore

Country :	Pakistan

Year of Establishment :	1991

Com. Reg. No.:	0063345

Legal Form :	Private Limited Company

Line of Business :	Manufacture & Marketing of Veterinary Pharmaceuticals & Medicines

No. of Employees :	70

RATING & COMMENTS

MIRA’s Rating :

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:

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ECGC Country Risk Classification List – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

PRIX PHARMACEUTICA (PVT.) LIMITED

Full Address

Registered Address

26, Abbot Road, Lahore, Pakistan

Tel #	92 (42) 36316499, 36366438
Fax #	92 (42) 36364169

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Veterinary Pharmaceuticals & Medicines
b.	Year Established	1991
c.	Registration #	0063345

Factory Location

Address	5-Pharmacity, 30 K.M., Multan, Lahore, Pakistan
Tel #	92 (42) 37543381 - 84 (4 Lines)
Fax #	92 (42) 37543385

Auditors

M/s Amin & Company

(Chartered Accountants)

Legal Status

Subject Company was established as a Partnership business in 1991. In 2007 it was converted to Private Limited Company

Authorized Capital	Rs. 10,000,000/- divided into 100,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 10,000/- divided into 100 shares of Rs. 100/- each

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Syed Hassan Mehdi

Mr. Sajjad Mehdi

Mr. Syed Abid Abbas

Pakistani

26, Abbot Road, Lahore

Business

Chief Executive

Director

Shareholders

Names

No. of Shares

Mr. Syed Hassan Mehdi

Mr. Sajjad Mehdi

Mr. Syed Abid Abbas

Mr. Syed Waqar Abbas Naqvi

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Products

Manufacture & Marketing of Veterinary Pharmaceuticals & Medicine

Number of Employees

Annual Production Volume

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

Annual Sales Volume

Year	In Pak Rupees
2010	55,000,000/- (Estimated)

Trade Suppliers

(Foreign)

(1) JRS PHARMA GMBH & CO, GERMANY.

(2) SHANGHAI SIPI PHARMACEUTICAL CO. LTD, CHINA.

Distributors Network

Mainly exist at major cities of Punjab Province

Bankers

· Habib Bank Limited, Pakistan.

The Bank of Punjab, Pakistan.

MCB Bank Limited, Pakistan.

Bank Alfalah Limited, Pakistan.

Memberships

· Lahore Chamber of Commerce & Industry.(LCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 95.10
UK Pound	1	Rs. 146.60
Euro	1	Rs. 118.30

Comments

Subject Company was established in 1991 and is engaged in manufacture & marketing of Veterinary Pharmaceuticals & Medicines. Overall reputation is satisfactory. Trade relations are reported as fair. Company can be considered for normal business dealings at usual trade terms and conditions.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.79
UK Pound	1	Rs.86.37
Euro	1	Rs.70.07

INFORMATION DETAILS

Report Prepared by :

MNL

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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