|
Report Date : |
03.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNIMARK PHARMACEUTICALS (UP) |
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|
|
|
Registered Office : |
1st Floor, Shah Plaza, Sauq-e-Idrees, Murree Road, Rawalpindi |
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Country : |
Pakistan |
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Year of Establishments: |
1997 |
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Legal Form : |
--- |
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Line of Business : |
Manufacturer of
Pharmaceutical Products |
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|
|
No. of Employees : |
Not
Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
TATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Pakistan |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
pakistan ECONOMIC OVERVIEW
Decades of
internal political disputes and low levels of foreign investment have led to
slow growth and underdevelopment in Pakistan. Agriculture accounts for more
than one-fifth of output and two-fifths of employment. Textiles account for
most of Pakistan's export earnings, and Pakistan's failure to expand a viable
export base for other manufactures has left the country vulnerable to shifts in
world demand. Official unemployment is under 6%, but this fails to capture the
true picture, because much of the economy is informal and underemployment
remains high. Over the past few years, low growth and high inflation, led by a
spurt in food prices, have increased the amount of poverty - the UN Human
Development Report estimated poverty in 2011 at almost 50% of the population.
Inflation has worsened the situation, climbing from 7.7% in 2007 to almost 12%
for 2011, before declining to 10% in 2012. As a result of political and
economic instability, the Pakistani rupee has depreciated more than 40% since
2007. The government agreed to an International Monetary Fund Standby
Arrangement in November 2008 in response to a balance of payments crisis.
Although the economy has stabilized since the crisis, it has failed to recover.
Foreign investment has not returned, due to investor concerns related to
governance, energy, security, and a slow-down in the global economy.
Remittances from overseas workers, averaging about $1 billion a month since
March 2011, remain a bright spot for Pakistan. However, after a small current
account surplus in fiscal year 2011 (July 2010/June 2011), Pakistan's current
account turned to deficit in fiscal year 2012, spurred by higher prices for
imported oil and lower prices for exported cotton. Pakistan remains stuck in a
low-income, low-growth trap, with growth averaging about 3% per year from 2008
to 2012. Pakistan must address long standing issues related to government revenues
and energy production in order to spur the amount of economic growth that will
be necessary to employ its growing and rapidly urbanizing population, more than
half of which is under 22. Other long term challenges include expanding
investment in education and healthcare, adapting to the effects of climate
change and natural disasters, and reducing dependence on foreign donors.
|
Source : CIA |
|
Business Name |
UNIMARK PHARMACEUTICALS (UP) |
|
Head Office Address |
Head Office/
Registered Address 1st Floor, Shah Plaza, Sauq-e-Idrees, Murree Road, Rawalpindi Factory Address Plot No. 7-A, Street No. S-7, National Industrial Zone,
Rawat, Islamabad. |
|
Telephone |
+92 51 5534789 |
|
Fax |
+92 51 5532048 |
|
Email |
|
|
Website |
|
|
Business activities |
Manufacturing of
Pharmaceutical Products |
Legal Status of UP is
undetermined but as per our investigation the concern is not a limited or a
private limited company hence registration with any regulatory body is not
mandatory.
|
CRO Registration
Number |
N/A |
|
Date of Registration |
Other registry
& certification details:
|
Current Legal Form |
Not Disclosed |
|
National Tax
Registration Number |
Not Provided |
|
Date of Registration |
Not Disclosed |
|
GST Registration
Number |
Not Disclosed |
|
Date of Registration |
Not Disclosed |
|
Chamber of Commerce
& Industry |
Not Provided |
|
ISO Certification |
Undetermined |
|
Other certifications |
Undetermined |
Capital
|
Type |
No. of Shares |
Par Value |
Total Value |
|
Not Applicable |
|||
History
|
Who started |
Mr. Tallat |
|
When started |
1997 |
|
Change in management |
Not Disclosed |
|
Year of change |
N/A |
|
Change in legal
status |
Not Disclosed |
|
Year of change |
N/A |
|
Change in business
name |
None
|
|
Year of change |
N/A |
(SPONSORS)
|
Name |
Number of Shares |
Nationality |
Appointment Date (Last) |
|
Not Disclosed |
|||
|
Name |
Position in organization |
Qualification |
Years in employment |
|
Mr. Tallat |
CEO |
Not disclosed |
Not disclosed |
|
Mr. Tariq |
Sales Executive |
Not disclosed |
Not disclosed |
|
Statutory
offices |
Name of service
provider |
|
Statutory Auditors |
Not disclosed |
|
Legal Advisory Services |
Not disclosed |
|
Bank name |
Approved financing
limits PKR |
|
Not Disclosed |
|
UP is
involved in the marketing and production of pharmaceutical products since 1997
with an extreme Urge to perform the excellence in the service of ailing human being. UP
comprises of dynamic professionals who believe to deliver something rare in the
course of their professional performance and can create the authoritative names
in their respective fields. The organizational structure of UP is
also growing very fast and getting strengths in its system and structure and is
believed to be one of the sizeable and strong organizations.
Products:
·
Angipro Tablets
(Enteric Coated Aspirin 75mg)
·
Arja 320(Gemifloxacin
Mesylate, 320mg)
·
Basil 40
Tablets (Famotidine 40mg)
·
Carsel 100
Tablets (Metoprolol Tartrate 100mg)
·
Carsel 25
Tablets (Metoprolol Tartrate 25mg)
·
Carsel 50
Tablets (Metoprolol Tartrate 50mg)
·
Carsel Plus
100 Tablets (Metoprolol Tartrate 100mg + HCTZ 25mg)
·
Carsel Plus
50 Tablets (Metoprolol Tartrate 50mg + HCTZ 25mg)
·
Glimicron Tablets
(Gliclazide 80mg)
·
Hemobest Tablets(Iron
(III) Polymaltose 100mg + Folic Acid 0.35m
·
Jax-50 Tablets(Clomiphene
Citrate 50mg)
·
Jits-20 (Esomeprazole
pellets (enteric coated) 20mg)
·
Jits-40 (Esomeprazole
pellets (enteric coated) 40mg)
·
Kolmark-10 Tablets(Atorvastatin
(as calcium trihydrate)10mg)
·
Luxafen Gel
(Diclofenac Diethylammonium
·
Luxafen K
Tablets (Diclofenac Potassium 50mg Tablets)
·
Miodarone Tablets
(Amiodarone HCL 200mg)
·
Monosor 20
Tablets (Isosorbide-5-mononitrate 20mg)
·
Monosor 40
Tablets (Isosorbide-5-mononitrate 40mg)
·
Niglys SR
2.6 Capsules ( Glyceryl Trinitrate 2.6 )
Purchases (Incl.
Imports)
|
Imports from |
Not Disclosed |
|
Importing terms |
|
|
Local |
|
|
Local buying terms |
Sales (Incl.
Exports)
|
Exports to |
Nil |
|
Exporting terms |
N/A |
|
Local (%) |
100 (All over Pakistan) |
|
Local selling terms |
Cash and Credit of 30 days |
NUMBER OF
EMPLOYEES
|
Nature of employment |
Current Year |
Previous Year |
|
Permanent and Contractual |
|
|
|
Total |
Not Disclosed |
|
|
Head office Address Owned / Rented Area (approx) |
1st Floor, Shah Plaza, Sauq-e-Idrees, Murree
Road, Rawalpindi Not Disclosed Not Disclosed |
|
Factory Address Owned / Rented Area (approx) |
Plot No. 7-A, Street No. S-7, National Industrial Zone,
Rawat, Islamabad. Not Disclosed Not Disclosed |
Two Competitors were
contacted to get feedback about the subject about its products and sponsors.
All the feedback was found Satisfactory and no disputes or untoward events
including complaints about quality of products were reported/ identified during
inquiry. The contact person knew well about UP but knew nothing about its
sponsors in addition he told us that UP has a good market share in the local
market and is known to be the better operators in the local market.
|
Business Name |
City |
Line of Business |
Percentile of Shareholding |
|
Not Disclosed |
|||
The contact person decline to provide the financial information.
|
Contact person |
Mr. Tariq |
|
Position |
Sale Executive |
|
Contact Person
Comments |
Mr. Muhammad Khalid confirmed business operations and
business information however; he declined to share financial & other trading
details. |
|
Analyst’s
Observations/ comments |
i)
The physical visit has been made to Factory of
the subject. ii) Employees were observed working at the premises of the factory. iii) Signboard of the subject was affixed at the main gate of the subject. iv) Mr. Tariq, the Sales Executive of the subject, told that the subject was established in Year 1997 as a trading pharmaceutical concern and said that the subject entered into the field of the manufacturing of pharmaceutical products and established its factory in Industrial Zone, Rawat, Islamabad in Year 2000. v) The contacted person claimed that his company has been involved in manufacturing & trading of pharmaceutical products (product names has been mentioned above) and has access to the market throughout the country. vi)
The
contact person didn`t provide the detailed information about the operations
& legal status about his company. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.23 |
|
|
1 |
Rs.102.14 |
|
Euro |
1 |
Rs.84.64 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.