MIRA INFORM REPORT

Report Date :

19.03.2012

IDENTIFICATION DETAILS

Name :	EPLA LABORATORIES (PVT) LIMITED
Registered Office :	D-12, Estate Avenue, S.I.T.E., Karachi
Country :	Pakistan
Date of Incorporation :	1983
Com. Reg. No.:	0010067
Legal Form :	Private Limited
Line of Business :	Manufacture & Marketing of Pharmaceutical Products
No. of Employees :	192

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 :	Usually correct
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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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

EPLA LABORATORIES (PVT) LIMITED

Full Address

Registered Address & Factory

D-12, Estate Avenue, S.I.T.E., Karachi, Pakistan

Tel #	92 (21) 32577726, 32576126, 32576130, 32578826
Fax #	92 (21) 32561092
Email	epla@cyber.net.pk

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Pharmaceutical Products
b.	Year Established	1983
c.	Registration #	0010067

Branches

In Lahore at present

Auditors

M/s Ebrahim & Co.

(Chartered Accountants)

2^nd Floor, Block ‘C’, Lakson Square Building No. 1, Sarwar Shaheed Road, Karachi, Pakistan

Legal Status

Subject Company was established by the name of Eastern Pharmaceutical Laboratories (Pvt) Limited then afterwards it name was changed to “Epla Laboratories (Pvt) Limited

Authorized Capital	Rs. 50,000,000/- divided into 500,000 shares of Rs. 100/- each
Issued & Paid up Capital	Rs. 30,000,000/- divided into 300,000 shares of Rs. 100/- each

Details of Chief Executive/ Directors

Names	Nationality	Address	Occupation	Designation
Dr. Mohammad Tariq Siddiqi Dr. Mohammad Haroon Siddiqi Mrs. Farhat Haroon Siddiqi Dr. (Mrs) Ghazala Tariq Siddiqi Miss Mahvash Tariq Siddiqi Mr. Adil Haroon Siddiqi	Pakistani Pakistani Pakistani Pakistani Pakistani Pakistani	House No. 21/1, Khayaban-e-Hafiz, Phase 5, D.H.A., Karachi House No. 21/1, Khayaban-e-Hafiz, Phase 5, D.H.A., Karachi House No. 21/1, Khayaban-e-Hafiz, Phase 5, D.H.A., Karachi House No. 21/1, Khayaban-e-Hafiz, Phase 5, D.H.A., Karachi House No. 21/1, Khayaban-e-Hafiz, Phase 5, D.H.A., Karachi House No. 21/1, Khayaban-e-Hafiz, Phase 5, D.H.A., Karachi	Business Business Business Business Business Business	Chief Executive Director Director Director Director Director

Shareholders

Names	No. of Shares
Dr. Mohammad Haroon Siddiqi Dr. Mohammad Tariq Siddiqi Mrs. Farhat Haroon Siddiqi Dr. (Mrs.) Ghazala Tariq Siddiqi Miss Mahvash Tariq Siddiqi Mr. Adil Haroon Siddiqi Miss Mahrukh Tariq Siddiqi Mr. Shahrukh Tariq Siddiqi Miss. Maham Tariq Siddiqi	72,618 92,277 33,639 51,083 292 40,425 246 2,647 6,773

Associates

Subsidiary

None

Associated Companies

- Do -

Products / Services

Manufacture & marketing of Pharmaceutical Products by its brand name of ACEARTIN-50, AMCODRIN, AMPICIL, ANXOLITE, ASCORVIT, ASMAKAST-10, ASMAKAST-5, BACIMIX, BACIMIX-P, CANALAC SYRUP, CAROVIT, CEFYL-ESF, CEFYL-P, CIPAMOX, CIPAMOX FORTE, CIPROCIDE, CO-ACEARTIN, COTRIZOLE, CURODERM, CURODERM-H, CYNODOX-C FORTE, CYNODOX-C LYSINE, CYNODOX-SF, DEPRAM, DEPROX, DIAGLIC, DIAMIDE, DIARHOL, DOLORAN, EPIDOX, EPLACARD, EPLACIN, EPLAROX, EPLAZYME, FLAREN, GLIGUARD, HIBASTIN, HISTADINE, HISTAMOL, MECOL, MYCONIT, MYCONIT-H, NACTA, OMEPEC, PRESCARD, PROSDURA, RELAXIPAM, RHEPROX, RHEZOLE, RIBAZID, RINERGE, SPASMOGIN, WORMIZOLE, WORMIZOLE FORTE

Number of Employees

192

Trade Suppliers

(1) ZHEJIANG JIANFENG INTERNATIONAL TRADE CO. LTD, CHINA.

(2) JIANGXI SPLENDID DRAGON CHEMICAL LIMITED, CHINA.

Annual Production Volume

The capacity and production of the company’s plant is indeterminable as it involves varying processes of manufacture.

Annual Sales Volume

Year	In Pak Rupees
2009	200,000,000/- (Estimated)

Authorized Distributors

Mainly exist at major cities of Pakistan

Bankers

(1) Soneri Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) Habib Metropolitan Bank Limited, Pakistan.

Memberships

• Pakistan Pharmaceutical Manufacturers Association.(PPMA)
• Karachi Chamber of Commerce & Industry.(KCCI)

Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 91.00
UK Pound	1	Rs. 141.80
Euro	1	Rs. 118.10

Comments

Subject Company enjoys good reputation in Pakistan as well as in abroad. All the directors of the Company are reported as qualified, experienced and resourceful businessmen. Payments are usually correct and as per commitments. 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.50.31
UK Pound	1	Rs.79.04
Euro	1	Rs.65.82

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.