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Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
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Name : |
LAWRANCE PHARMA (PVT) LIMITED (LPL) |
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Registered Office : |
193 Circular Road, 2nd Floor, Bilal Market, Chowk New Anarkali,
Lahore |
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Country : |
Pakistan |
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Date of Incorporation : |
29.06.1993 |
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Com. Reg. No.: |
0030672 |
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Legal Form : |
Private Limited company |
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Line of Business : |
Manufacturer, Importer and Exporter of pharmaceutical products and
raw material. |
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No. of Employees : |
45 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Pakistan |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
LAWRANCE PHARMA
(PVT) LIMITED (LPL)
|
Business Name |
LAWRANCE PHARMA (PVT) LIMITED (LPL) |
|
Address |
Head Office / Registered Office: 193 Circular Road, 2nd Floor, Bilal Market, Chowk New Anarkali,
Lahore. Factory
Address: 10-K.M- Sheikhpura Road, Lahore |
|
Telephone |
(+92) (42) 37230110, 37122065-69, 37920451 |
|
Fax |
(+92) (42) 37233537, 37916173 |
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Mobile |
(+92) (300) 4240049 Mr. M. Arif Siddiqui - Director |
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Website |
None |
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Business activities |
Manufacturer, Importer and Exporter of pharmaceutical products and
raw material. |
Registry Details
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CRO Registration Number |
0030672 |
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Date of Registration |
June 29, 1993 |
Other registry &
certification details:
|
Current Legal Form |
Private Limited company |
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National Tax Registration Number |
0786297-7 |
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Date of Registration |
July 06, 2002 |
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GST Registration Number |
0300078629711 |
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Date of Registration |
June 04, 2013 |
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Chamber of Commerce & Industry |
Lahore Chamber of Commerce and Industry |
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Date of Registration |
Undetermined |
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ISO Certification |
None |
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Date of Registration |
N/A |
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Other certifications |
None |
|
Date of Registration |
N/A |
Capital
|
Type |
No. of Shares |
Par Value |
Total Value |
|
Authorize Capital |
130,000 |
Rs. 100/- |
Rs. 13,000,000/- |
|
Paid up Capital |
70,330 |
Rs. 100/- |
Rs. 7,033,000/- |
History
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Who started |
Undetermined |
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When started |
June 29, 1993 |
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Change in management |
None |
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Year of change |
N/A |
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Change in legal status |
None |
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Year of change |
N/A |
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Change in business address |
None |
|
Year of change |
N/A |
|
Name |
Designation |
Number of Shares |
Nationality |
Appointment Date
(Last) |
|
Mr. Muhammad Arif |
Director/C.E.O |
26,624 |
Pakistani |
30-06-2012 |
|
Muhammad Arsalan Arif |
Director |
17,082 |
Pakistani |
30-06-2012 |
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Muhammad Farrukh Arif |
Director |
13,312 |
Pakistani |
30-06-2012 |
|
Muhammad Farhan Arif |
Director |
13,312 |
Pakistani |
30-06-2012 |
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Name |
Position in organization |
Qualification |
Years in employment |
|
Mr. Muhammad Arif |
C.E.O |
Not provided |
Not provided |
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Mr. Muhammad Arsalan Arif |
Director |
Not provided |
Not provided |
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Mr. Kashif |
Manager Marketing |
Not provided |
Not provided |
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Statutory offices |
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Statutory
Auditors |
M/s.
Karamat Ch. & Company Chartered Accountants |
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Legal
Advisory Services |
Ch.
Abdul Waheed |
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Bank name |
Approved financing
limits |
|
Habib
Bank Limited |
26,300,000 |
The primary focus of the LPL is manufacturing and trading
of Pharmaceutical raw material and medicines, its product includes raw
material, injectable and different syrups. Some of its products include:
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Purchases (Incl.
Imports)
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Imports from |
Not Disclosed |
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Importing terms |
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Local (%) |
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Local buying terms |
Sales (Incl. Exports)
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Exports to |
Not Disclosed |
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Exporting terms |
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Local (%) |
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Local selling terms |
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Nature of
employment |
Current Year |
Previous Year |
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All Staff |
45 |
45 |
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Total |
45 |
45 |
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Head office Address Owned / Rented Area (approx) |
193 Circular Road, 2nd Floor,
Bilal Market, Chowk New Anarkali, Lahore. Details not provided. |
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Factory Address Owned / Rented Area (approx) |
10-K.M- Sheikhpura Road, Lahore Details not provided. |
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Warehouse Address Owned / Rented Area (approx) |
No |
During the market check of LPL, we contacted various suppliers / customers / competitors of the subject company. In their opinion subject company is a good player of the industry and enjoys average reputation in the market. Market sources further mentioned that LPL is known as a profitable business in the industry.
|
Business Name |
City |
Line of Business |
Percentile of
Shareholding |
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Not Disclosed |
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The contact person decline to share financial information.
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Contact person |
Mr. Kashif |
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Position |
Manager Marketing |
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Comments |
We visited the office premise of said company and Mr. Kashif confirmed operations but declined to share information regarding sales/purchase and financials of the company. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.96 |
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|
1 |
Rs.101.14 |
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Euro |
1 |
Rs.85.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.