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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
STAR LABORATORIES (PVT) LIMITED |
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|
|
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Registered Office : |
23-K.M., Multan Road (Chung) 53800, Lahore |
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Country : |
Pakistan |
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|
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Date of Incorporation : |
1960 |
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Com. Reg. No.: |
0006071 |
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|
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Legal Form : |
Private Limited |
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Line of Business : |
Manufacture & Marketing of Human, Veterinary & Poultry
Medicines |
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|
|
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No. of Employees : |
410 |
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 |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
STAR LABORATORIES (PVT) LIMITED
|
Registered
Address & Factory |
|
23-K.M., Multan Road (Chung) 53800, Lahore,
Pakistan |
|
Tel # |
92 (42) 37511331, 37510690, 37512621,
37512622 |
|
Fax # |
92 (42) 37510163, 37512622 |
|
Email |
|
a. |
Nature of Business |
Manufacture & Marketing of Human, Veterinary & Poultry
Medicines |
|
b. |
Year Established |
1960 |
|
c. |
Registration # |
0006071 |
Veterinary Medicines Dept
23-KM,
Multan Road Lahore, Lahore, Pakistan.
Human Medicines Dept
125-A, Canal View, Thoker Niaz Beig, Lahore,
Pakistan.
Aslam Malik & Co.
(Chartered Accountants)
Subject was established as a Partnership business in 1960 then afterward
its legal status was changed to Private Limited Company in 1978
|
Authorized Capital |
Rs. 60,000,000/- divided into 600,000 shares
of Rs.100/- each |
|
Issued & Paid up Capital |
Rs. 39,950,000/- divided into 399,500 shares
of Rs.100/- each |
|
Names |
Designation |
|
Mr. Muhammad Asrar H. Malik Mr. Muhammad Asher H. Malik Mr. Amir Islam Mr. Chaudhary Rehmatullah |
Chief Executive Director Director Director |
|
Names |
No. of Shares |
|
Mr. Muhammad Asrar H. Malik Mr. Muhammad Asher H. Malik Mr. Chaudhary Rehmatullah Mrs. Mudassara Amir Mrs. Amber Asher Mrs. Faiza Asrar Mr. Amir Islam Mrs. Tahira Aslam Mr. Malik Muhammad Aslam Mr. Malik Muhammad Javaid |
1,798,050 1,798,050 400 107,500 50,000 50,000 50,000 47,000 47,000 47,000 |
A. Subsidiary
None
B. Associated Companies
(1) Champion Trading Corporation, Pakistan
Manufacture & Marketing of Human, Veterinary & Poultry Medicines
410
(Combined Human & Veterinary
Division)
|
SECTION |
RATED CAPACITY ON SINGLE SHIFT BASIS |
UTILIZED CAPACITY |
UN-UTILIZED CAPACITY |
|
INJECTIONS: |
|
|
|
|
Ampoules |
70800000 Nos. |
42480000 Nos. |
28320000 Nos. |
|
Vials |
9600000 Nos. |
5760000 Nos. |
3840000 Nos. |
|
Solutions |
240000 Ltr. |
144000 Ltr. |
96000 Ltr. |
|
TABLETS: |
|
|
|
|
Tablets |
213600000 Nos. |
128160000 Nos. |
85440000 Nos. |
|
Boluses |
7200000 Nos. |
4320000 Nos. |
2880000 Nos. |
|
OINTMENTS: |
|
|
|
|
Ointments |
1728000 Tubes |
NIL |
1728000 Tubes |
|
LIQUIDS: |
|
|
|
|
Syrup/Drops |
614400 Ltr. |
368640 Ltr. |
245760 Ltr. |
|
CAPSULES: |
|
|
|
|
Capsules |
9600000 Nos. |
4500000 Nos. |
5100000 Nos. |
|
POWDERS: |
|
|
|
|
Formulated |
30000000 Pkt. |
15000000 Pkt. |
15000000 Pkt. |
|
Repacked |
2880000 Jars/Bags |
1728000 Jars/Bags |
1152000 Jars/Bags |
|
Year |
In Pak Rupees |
|
2012 |
1,000,000,000/- (Estimated) |
The capacity and
production of the Company’s plant is indeterminable as it is multi-product and involves varying processes
of manufacture
Mainly to Saudi Arabia, Kuwait, Srilanka, Nigeria, Sudan, U.A.E.,
Mauritius and Mauritania.
In all major cities of Pakistan and 10 countries of the world
|
Year |
In US Dollar ($)
|
|
2012 |
3,500,000/- (Estimated) |
(1)
Bank
Al-Habib Limited, Pakistan.
(2) Bank Alfalah Limited, Pakistan.
(3) MCB Bank Limited, Pakistan.
(4) Standard Chartered Bank, Pakistan.
(5) Habib Bank Limited, Pakistan.
(6) Faysal Bank Limited, Pakistan.
Lahore Chamber of Commerce & Industry.(
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 107.50 |
|
UK Pound |
1 |
Rs. 173.00 |
|
Euro |
1 |
Rs. 145.75 |
Star Laboratories (Pvt.) Limited was established in 1960 and is engaged
in manufacture & export of Live Saving Drugs and Medicines for human and
veterinary / poultry use. Company’s
market reputation is good. Trade relations are reported as fair. Subject can be
considered for normal business dealings at usual trade terms and conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.