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Report No. : |
305216 |
|
Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
LAHORE CHEMICAL
& PHARMACEUTICAL WORKS (PVT) LIMITED |
|
|
|
|
Registered Office : |
8 - Mall Mansion,
30-Shahrah-e-Quaid-e-Azam, Lahore |
|
|
|
|
Country : |
Pakistan |
|
|
|
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Date of Incorporation : |
1963 |
|
|
|
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Com. Reg. No.: |
0001745 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture &
Marketing of Pharmaceutical Products |
|
|
|
|
No. of Employee : |
290 |
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 |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Pakistan |
B1 |
B1 |
|
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 was 6.6% in 2013, 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. 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 the following two years, 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 3.5% per year from 2008 to 2013.
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 |
LAHORE CHEMICAL & PHARMACEUTICAL WORKS (PVT)
LIMITED
|
Registered Address |
|
8 - Mall Mansion,
30-Shahrah-e-Quaid-e-Azam, Lahore, Pakistan |
|
Tel # |
92 (42) 37531681, 37231762, 37231764 |
|
Fax # |
92 (42) 37550790 |
|
Email |
|
a. |
Nature of Business |
Manufacture &
Marketing of Pharmaceutical Products |
|
b. |
Year Established |
1963 |
|
c. |
Registration No. |
0001745 |
|
Address |
137, Ferozepur Road, Lahore, Pakistan |
|
Tel # |
92 (42) 37550787, 37550788, 37550789 |
|
Fax # |
92 (42) 37588987 |
|
M/s Mohammad Naeem & Co. (Chartered
Accountants) |
|
Subject Company was established as a Private Limited Company in 1963 |
|
Authorized Capital |
Rs. 50,000,000/-
divided into 50,000 shares of Rs. 1000/- each |
|
Issued & Paid up Capital |
Rs. 27,354,000/-
divided into 27,354 shares of Rs. 1000/- each |
|
Names |
Designation |
|
Mr. Ijaz A. Mumtaz Mr. Nadeem A. Mumtaz Mr. Asad Ijaz Mumtaz Mr. Mahr Yar Nadir Mumtaz |
Chief Executive Director Director Director |
|
Names |
No. of Shares |
|
Mr. Ijaz A. Mumtaz Mrs. Zeb Kabir Ahmad Mr. Nadeem A. Mumtaz Mr. Sohail A. Kabir Mr. Omer Farooq Mrs. Robbina Mumtaz Mr. Asad Ijaz Mumtaz Mr. Mahr Yar Nadir Mumtaz |
7,034 10,294 7,058 1,070 1,070 730 61 37 |
Subsidiary
None
Associated
Companies
Fazal Din & Sons, Pakistan.
Medequips, Pakistan.
Medipharm Limited, Pakistan.
Anesthetics, Analgesics, Antibiotics,
Anticancer, Antidiabetics, Antimalarial, Antirheumatics, Antispasmodics, Anti -
T.B., Anxiolytic, Cardio Vascular Preparations,
Cough & Cold Preparations, Diuretics, Gonodotrophin & Ovulation Stimulants,
I.V Solutions, Multivitamin Preparations, Ophthalmic Preparations, Oestrogen
Preparations & Steroid Preparations.
290
The capacity and
production of the company’s plant is indeterminable as it is multi-product and
involves varying processes of manufacture.
|
Year |
In Pak Rupees |
|
2013 |
560,000,000/- (Estimated) |
|
(1) SCHERING A.G.,
GERMANY. (2) MEAD JOHNSON
& CO., U.S.A. (3) BRISTOL MEYERS
INTERNATIONAL, U.S.A. |
|
Mainly Private & Government Hospitals,
Pharmacies, Distribution Companies etc |
|
(1) Habib Bank
Limited, Pakistan. (2) Bank Alfalah
Limited, Pakistan. (3) Soneri Bank
Limited, Pakistan. (4) MCB Bank Limited,
Pakistan. (5) National Bank of
Pakistan. (6) NIB Bank Limited,
Pakistan. (7) Faysal Bank
Limited, Pakistan. |
Lahore Chamber of Commerce & Industry
Pakistan Pharmaceutical Manufacturers Association
|
Currency |
Unit |
Pakistani Rupee |
|
US Dollar |
1 |
Rs. 101.60 |
|
UK Pound |
1 |
Rs. 152.25 |
|
Euro |
1 |
Rs. 113.50 |
Subject Company enjoys good reputation in
Pakistan. Directors of the Company are reported as experienced, respectable and
having satisfactory means of their own. Trade relations are reported as fair.
Payments are usually correct and as per commitments. 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.61.75 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.