MIRA INFORM REPORT

Report No. :	352290
Report Date :	04.12.2015

IDENTIFICATION DETAILS

Name :	ELKO ORGANISATION (PVT) LIMITED

Registered Office :	Plot No. 27 & 28, Sector-12B, North Karachi Industrial Area, Karachi

Country :	Pakistan

Date of Incorporation :	1981

Com. Reg. No.:	0008662

Legal Form :	Private Limited Company

Line of Business :	Manufacture & Marketing of Pharmaceutical Products.

No. of Employees :	148

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
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 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Pakistan

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Business Name

ELKO ORGANISATION (PVT) LIMITED

Full Address

Registered Address

Plot No. 27 & 28, Sector-12B, North Karachi Industrial Area, Karachi, Pakistan

Tel #	92 (21) 36958681, 36958682, 36958683
Fax #	92 (21) 36958684
Email	elkopharma@cyber.net.pk

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Pharmaceutical Products
b.	Year Established	1981
c.	Registration No.	0008662

Branches

Address	21, Wahab Arcade, M.A. Jinnah Road, Karachi, Pakistan
Tel #	92 (21) 32626625, 32626474
Fax #	92 (21) 32629654

Auditors

M/s. Nudrat Mand Khan

(Chartered Accountants)

Legal Status

Subject Company was established as a Private Limited Company in 1981

Authorized Capital	Rs. 25,000,000/- divided into 250,000 shares of Rs. 100/- each
Issued, Subscribed & Paid up Capital	Rs. 20,000,000/- divided into 200,000 shares of Rs. 100/- each

Details of Management

Names

Nationality

Address

Occupation

Designation

Mr. Nadeem Ahmed Chandna

Mr. Shakil Ahmed Chandna

Mr. S.M. Ahmed

Pakistani

88, Overseas Co-operative Housing Society, Karachi

107, Overseas Co-operative Housing Society, Karachi

88, Overseas Co-operative Housing Society, Karachi

Business

Chief Executive

Director

Shareholders

Names

No of Shares

Mr. S. M. Ahmed

Mr. Shakil Ahmed Chandna

Mr. Nadeem Ahmed Chandna

Mrs. Shabnam Shakil

Mrs. Shamima Khatoon

100

50,000

99,900

49,900

100

Associates

A. Subsidiary

None

B. Associated Companies

Hyderi International (Pvt) Limited, Pakistan.

Conagent (Pvt) Limited, Pakistan.

Products / Brand Names

AZOSIN, BACUS, BESTAR, BETALOL, BLEPHAPRED, BLINK FRESH, BURNAZIN, ELKOBIOTIC, CHLORAMPHENICOL, CROMOZIL, DEXOPTIC, DEXOPTIC-C, DURUM, ELIRAX, ELKAZOLE, ELKOCAINE, ELKOGENT, ELKOMIN, ELKOPAL, ELKOPAN, ELKOPLEX, ELKOPYRON, ELKOTAX, ELMOX, ELXONE, ELZIN, FLKACILLIN, FUSAC, LEVOSAN, LINCOMYCIN, METIDAL-M, NOSTAMIN, NOVODOX, OCUFLUR, OCULERG, OPTAFEN, OPTOFEN, OPTOFLOX, OPTOLUBE, OPTOPRED, OSRAN, OTOFLOX, OXYCROM, PEPGARD, SANTIROL, SANTOBREX, SANTOCHLOR, SANTODEX, SANTOVIR, SEPCIN, SERENEX, TARISIN, TERBISAN, TOPCEF, TRACNESAN, TROPIC, VISCOGEL, XOLINE

Number of Employees

148

Annual Production Volume

The capacity and production of the company’s plant is indeterminable as it is multi-products and involve various processes of manufacturing

Annual Sales Volume

Year

In Pak Rupees

2014

320,389,821/-

Trade Suppliers (Foreign)

(1) ROQUETTE INTERNATIONAL, FRANCE.

(2) PURAC ASIA PTE LIMITED, SINGAPORE.

(3) NORTH CHINA PHARMACEUTICAL GROUP, CHINA.

(4) BASELL POLYOLEFIN COMPANY, BELGIUM.

Customers

Mainly Private & Government Hospitals, Pharmacies, Distribution Companies etc

Importing Countries

Subject import globally from Companies belongs to China, Korea, U.S.A., India & European Countries. Its global trade suppliers are Companies related to Pharmaceutical Raw Materials

Bankers

United Bank Limited, Pakistan.

Allied Bank Limited, Pakistan.

MCB Bank Limited, Pakistan.

Standard Chartered Bank, Pakistan.

Habib Bank Limited, Pakistan.

Memberships

Pakistan Pharmaceutical Manufacturers Associations.(PPMA)

Karachi Chamber of Commerce & Industry.(KCCI)

19. Foreign Exchange Rates

Currency	Unit	Pakistani Rupee
US Dollar	1	Rs. 105.90
UK Pound	1	Rs. 161.50
Euro	1	Rs. 113.50

Comments

Subject Company was established in 1981 and is engaged in manufacture & marketing of Pharmaceutical Products. 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.66.75
UK Pound	1	Rs.99.61
Euro	1	Rs.70.67
PKR	1	Rs.0.63

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	KIN

Report Prepared by :	TPT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.