MIRA INFORM REPORT

Report No. :	351220
Report Date :	05.12.2015

IDENTIFICATION DETAILS

Name :	VETCON PHARMACEUTICAL (PVT) LIMITED

Registered Office :	Industrial Estate, Bhimber, A.J.K.

Country :	Pakistan

Date of Incorporation :	2001

Legal Form :	Private Limited Company

Line of Business :	Manufacture & Marketing of Veterinary Pharmaceutical & Medicine

No. of Employees :	50

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:

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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

VETCON PHARMACEUTICAL (PVT) LIMITED

Full Address

Registered Address & Factory

Industrial Estate, Bhimber, A.J.K., Pakistan

Tel #	92 (58650) 42234, +923008727787
Fax #	92 (58650) 42234

Short Description Of Business

a.	Nature of Business	Manufacture & Marketing of Veterinary Pharmaceutical & Medicine
b.	Year Established	2001
c.	National Tax No.	2743450

Branches

In Quetta & Peshawar

Legal Status

Subject Company was established as a Private Limited Company in 2001

5.	Authorized Capital	Rs. 5,000,000/- divided into 50,000 shares of Rs. 100/- each
	Issued & Paid up Capital	Rs. 5,000,000/- divided into 50,000 shares of Rs. 100/- each

Note:

Authorized & Paid-Up Capital has been obtained through other sources as Company’s management is non-cooperative at all levels.

Details of Directors

Names

Nationality

Address

Occupation

Designation

Mr. Muhammad Anwar Bajwa

Mr. Rana Naveed

Mr. Rao Abdul Jabbar

Pakistani

Industrial Estate, Bhimber, A.J.K.

Business

Service

Chief Executive

Director

Manager

(Marketing)

Shareholders

Names

Mr. Muhammad Anwar Bajwa

Mr. Rana Naveed

Associates

A. Subsidiary

None

B. Associated Companies

- Do -

Business Activities

Manufacture & Marketing of Veterinary Pharmaceutical & Medicine

Number of Employees

Annual Production Volume

The capacity and production of the company’s plant is indeterminable as it is multi-product and involves varying processes of manufacturing.

Annual Sales Volume

Year

In Pak Rupees

2014

27,000,000/- (Estimated)

Trade Suppliers (Foreign)

ADVAN PHARMACHEM CO. LTD, CHINA.

INOGENT LABORATORIES (PVT) LIMITED, INDIA.

Distributors

Subject distributors currently exist at Peshawar & Azad Kashmir

Bankers

United Bank Limited, Pakistan

Habib Bank Limited, Pakistan.

MCB Bank Limited, Pakistan.

Memberships

Khyber Pakhtoonkwa Chamber of Commerce & Industry.(KPCCI)

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 2001 and is engaged in manufacture & marketing of Veterinary Pharmaceutical & Medicine. 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.66.84
UK Pound	1	Rs.101.04
Euro	1	Rs.73.05
PKR	1	Rs.0.63

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

INFORMATION DETAILS

Analysis Done by :	KAR

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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