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Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
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Registered Office : |
112-A Hayatabad Industrial Estate, |
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Country : |
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|
|
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
08.01.2002 |
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Com. Reg. No.: |
0043229 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing of Pharmaceutical Products. |
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No. of Employees : |
90 |
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 |
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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 – December 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
ALLIANCE
PHARMACEUTICALS (PVT) LTD (APPL)
|
Business Name |
Business Name: Alliance Pharmaceuticals (Pvt.) Ltd. (APPL) Inquiry Name: Alliance Chem International |
|
Address |
Registered
Address: 112-A Hayatabad Industrial Estate, Jamrud Road, Peshawar |
|
Telephone |
(+92) (91) 5891308 |
|
Fax |
(+92) (91) 5830268 |
|
Email |
|
|
Website |
None |
|
Business
activities |
Manufacturing of Pharmaceutical |
|
CRO Registration
Number |
0043229 |
|
Date of
Registration |
January 08, 2002 |
Other registry & certification details:
|
Current Legal
Form |
Private Limited Company |
|
National Tax Registration
Number |
2250492-3 |
|
Date of
Registration |
February 23, 2005 |
|
GST Registration
Number |
0501300002228 |
|
Date of
Registration |
February 08, 2008 |
|
Chamber of
Commerce & Industry |
Peshawar Chamber of Commerce & Industries |
|
ISO Certification |
Undetermined |
|
Other
certifications |
Undetermined |
|
Type |
No. of Shares |
Par Value |
Total Value |
|
Authorized |
150,000 |
100 |
15,000,000 |
|
Issued,
Subscribed & Paid-Up |
150,000 |
100 |
15,000,000 |
|
Who started |
Mr. Aziz Ahmed |
|
When started |
January 15, 2002 |
|
Change in
management |
None |
|
Year of change |
N/A |
|
Change in legal
status |
None |
|
Year of change |
N/A |
|
Change in
business name |
None |
|
Year of change |
N/A |
|
Name |
Number of Shares |
Nationality |
Appointment Date (Last) |
|
Mr. Jamal Salim |
33,000 |
Pakistani |
31 Oct 2010 |
|
Mr. Muhammad
Arif Sidique |
30,000 |
Pakistani |
31 Oct 2010 |
|
Mr. Aziz Ahmad |
25,500 |
Pakistani |
31 Oct 2010 |
|
Mr. Abid Salam |
24,750 |
Pakistani |
31 Oct 2010 |
|
Other share holder |
|
|
|
|
Ms.Aisha Rahim |
24,750 |
|
|
|
Mr.Hamid Tariq |
12,000 |
|
|
|
Total |
150,000 |
|
|
|
Name |
Position in organization |
Qualification |
Years in
employment |
|
Mr. Aziz Ahmad |
CEO |
Undetermined |
Undetermined |
|
Mr. Shaheen Ullah |
Finance Manager |
MBA |
08 Years |
|
Statutory offices |
Name of service
provider |
|
Statutory Auditors |
M/s. Sajjad Hasnain & Co Chartered Accountants |
|
Legal Advisory Services |
Mr.Muneer Awan |
|
Bank name |
Approved
financing limits PKR |
|
Bank Of Khyber |
40,000,000 |
The core business focus of APPL
is manufacturing of different Pharmaceutical products.
Products:
|
Imports from |
Indian |
|
Importing terms |
L/C |
|
Local |
All over Pakistan |
|
Local buying
terms |
Cash and Credit of 30-45 days |
|
Exports to |
Afghanistan |
|
Exporting terms |
N/A |
|
Local (%) |
Undetermined /not disclosed |
|
Local selling
terms |
Cash and Credit of 45-60 Days |
|
Nature
of employment |
Current
Year |
Previous
Year |
|
All Staff |
90 |
90 |
|
Total |
90 |
90 |
|
Head office Address Owned / Rented Area (approx) |
112-A Hayatabad
Industrial Estate Jamrud Road Peshawar Leased None Disclosed |
|
Factory Address Owned / Rented Area (approx) |
112-A Hayatabad
Industrial Estate Jamrud Road Peshawar Leased None Disclosed |
We
contacted a customer and a supplier of APPL to get a feedback 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.
|
Business Name |
City |
Line of Business |
Percentile of
Shareholding |
|
N/A |
|||
|
Particulars |
30-Jun-12 |
30-Jun-11 |
% Change |
|
|
|
|
|
|
Current assets |
16,901,438 |
14,112,613 |
19.76 |
|
Current liabilities |
28,612 |
3,274,091 |
(99.13) |
|
Working capital |
16,872,826 |
10,838,522 |
55.67 |
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|
|
|
|
|
Non-current assets |
12,791,977 |
13,813,269 |
(7.39) |
|
Long term liabilities |
- |
- |
#DIV/0! |
|
Net worth |
29,664,803 |
24,651,791 |
20.34 |
|
|
|
|
|
|
Turnover |
72,194,666 |
71,865,965 |
0.46 |
|
Gross Profit |
9,553,097 |
9,364,100 |
2.02 |
|
EBIT |
5,029,666 |
4,965,012 |
1.30 |
|
Profit / (Loss) before tax |
5,029,666 |
4,965,012 |
1.30 |
|
Financial Cost |
16,654 |
146,396 |
(88.62) |
|
Profit / (Loss) after tax |
5,029,666 |
4,818,616 |
4.38 |
|
|
|
|
|
|
Creditors |
28,612 |
3,274,091 |
(99.13) |
|
Deferred Cost |
671,780 |
646,670 |
3.88 |
|
Cash & bank balances |
771,397 |
610,627 |
26.33 |
|
Advanced,Deposit& Prepayments |
3,491,268 |
2,754,170 |
26.76 |
|
Growth trend |
|
|
|
|
Sales growth (%) |
0.46% |
|
|
|
Gross profit growth (%) |
2.02% |
|
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Solvency |
|
|
|
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Current ratio |
590.71 |
4.31 |
|
|
Quick ratio |
172.46 |
1.23 |
|
|
Total liabilities to net worth ratio (%) |
0.10 |
13.28 |
|
|
|
|
|
|
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Profitability |
|
|
|
|
Return on sales (%) |
6.97 |
6.71 |
|
|
Return on net worth (%) |
16.95 |
19.55 |
|
|
|
|
|
|
|
Contact person |
Mr.Shaheen Ullah |
|
Position |
Finance Manager |
|
Contact Person
Comments |
Mr. Shaheen Ullah confirmed business operations and business
information and provided financial information. |
|
Analyst’s Observations/
comments |
i)
The office comprised of fourteen air-conditioned
rooms, with nine computers and average office furniture. ii)
Sixty to Seventy employees were present in the
office premises at the time of physical visit. iii)
Sample of different Pharmaceutical Products were
observed at site. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
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.