MIRA INFORM REPORT

 

 

Report No. :

313797

Report Date :

25.03.2015

 

IDENTIFICATION DETAILS

                       

Name :

ATCO LABORATORIES LIMITED

 

 

Registered Office :

Tibet Centre, M.A. Jinnah Road, Karachi

 

 

Country :

Pakistan

 

 

Financials (as on) :

30.06.2014

 

 

Year of Establishments :

1978

 

 

Com. Reg. No.:

0006183

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Engaged in manufacturing & marketing of pharmaceutical products including Anti Biotic, Anti Malarials, Anti-Rheumatic, Antihistamine, Narcotic Analgesic, Non-Steroidal Respiratory Anti Inflamatory, Quinolones, Vitamins, Phenothiazine, Hypolipidaemics, Muscle Relaxant, Amoebicide, Calcium-Antagonist & Cardio Selective Beta Blocker

 

 

No of Employees :

850

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 sales 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

 

Business Name

 

ATCO LABORATORIES LIMITED

 

 

full Address       

 

Registered Address

Tibet Centre, M.A. Jinnah Road, Karachi, Pakistan

                       

Tel #

92 (21) 111-111-645, 32577930, 32577931, 32577932, 32577933

Fax #

92 (21) 32563974

 

 

Short Description Of Business

 

a.

Nature of Business      

Engaged in manufacturing & marketing of pharmaceutical products including Anti Biotic, Anti Malarials, Anti-Rheumatic, Antihistamine, Narcotic Analgesic, Non-Steroidal Respiratory Anti Inflamatory, Quinolones, Vitamins, Phenothiazine, Hypolipidaemics, Muscle Relaxant, Amoebicide, Calcium-Antagonist & Cardio Selective Beta Blocker

b.

Year Established

1978

c.

Registration #

0006183

 

 

Factory Location

 

Address

B/18, S.I.T.E Karachi, Pakistan

Tel #

92 (21) 32573546,  49 (3 Lines)

Fax #

92 (21) 32563974

 

 

Auditors

 

M/s Jalis Ahmed & Company

(Chartered Accountants)

121, Clifton Centre, Block 5, Main Clifton, Karachi, Pakistan

 

 

Legal Status

 

Subject Company was incorporated as a Private Limited Company in 1978 then afterwards it converted to Public Limited Company

 

Authorized Capital    

Rs. 20,000,000/- divided into 200,000 shares of Rs. 100/- each

Issued & Paid up Capital

Rs. 6,300,000/- divided into 63,000 shares of Rs. 100/- each

 

Details of Directors

 

Names

Designation

Mr. Saeed Allawala

 

Mr. S.M. Naseem Allawala

 

Mr. Aslam Usman Allawala

 

Mr. Salman Ilyas

 

Mr. Yousuf Ilyas

Chief Executive

 

Director

 

Director

 

Director

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Mr. S.M. Naseem Allawala

 

Mr. Aslam Usman Allawala

 

Mr. Saeed Allawala

 

Mr. Salman Ilyas

 

Mr. Yousuf Ilyas

 

Mrs. Gulzar Begum

21,000

 

10,500

 

10,500

 

10,200

 

10,200

 

600

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.           Subsidiary

            None                                            

           

B.           Associated Companies

 (1) Atco Pharma International (Private) Limited, Pakistan

 

 

Business Activities & Its Brand Names

 

manufacture & marketing of pharmaceutical products including Anti Biotic, Anti Malarials, Anti-Rheumatic, Antihistamine, Narcotic Analgesic, Non-Steroidal Respiratory Anti Inflamatory, Quinolones, Vitamins, Phenothiazine, Hypolipidaemics, Muscle Relaxant, Amoebicide, Calcium-Antagonist & Cardio Selective Beta Blocker with their brand names of AMLOD, ANFERON, ANXIT, ANZAFAX, APACE, ASCARD, ATCOCEE, ATCOL, ATCOPLEX-C, AZIDE, BETADERM, BETADERM-N, BETADERM-NM, BETAGNIC, BETASALIC, BRONKAL, BUNORFIN, CARBOPLATIN, CARDIPLANT, CARDNIT, CHEWFAM, CHLORMAX, CHOLESCOR, CHOLESTOR, CISPLATIN, CLARINASE, REPETABS, CLARITINE, CLOBEDERM, CLOBEDERM-NN, COMBINOL-D, COMBINAL JUNIOR, COMBINOL-E, CONAZ, CYTARBIN, DECAPEPTYL, DEPLUG, DEPONIT, DEPRAPRAM, DIAZOL, DIPROGENTA, DIPROSALIC, DOXORUBICIN, DOXYN, ECOZAR, ELANTAN, ELMETACIN, ELOCOM, ENACE, EULEXIN, FLUOROURACIL, FLURACIL, GELCLAIR, GEMPID, HEALIT, HIRUDOID, KETLAR, LACEROL, LEUCOVORIN, LOSTRESS, LYZAPAM, MENOGON, MERIZOLE, MEROL, MESULID, METHOTREXATE, MICRONEMA, MINIRIN, MOVELAT, MUCITAN, NAPADOC, NAVELBINE, NITROCINE, ORIMOX, PAMISOL, PANTROLOC, PENFEN, PLEXID, PROBETA, PROBETA-N, PROSTAVASIN, RUMAFEN, SCABION, SEFLOR, SILCHOL, SMECTA, SONETA, TANAKAN, TENSTATEN, TENZIL, TERBIDERM, TRANEX

           

 

Number of Employees

 

850

 

 

Annual Production Volume

 

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

 

 

Annual Sales Volume

 

Years

In Pak Rupees

2013

2014

2,132,220,700/-

2,757,208,964/-

 

 

Trade Suppliers

(Foreign)

 

(1) SCHWARZ PHARMA AG, GERMANY.

(2) MERZ PHARMACEUTICALS GMBH, GERMANY.

(3) IND-SWIFT LABORATORIES LIMITED, INDIA.

(4) ARCH PHARMA LABS LIMITED, INDIA.

(5) MAYNE PHARMA, AUSTRALIA.

(6) FERRING PHARMACEUTICALS, U.S.A.

(7) PIERRE FABRE, FRANCE.

(8) HELSINN, SWITZERLAND.

(9) SANKYO, JAPAN.

 

 

clientele

 

Mainly Distribution & Marketing Companies, Private & Government Hospitals, Pharmacies, Buying Agencies, International Buyers

 

 

Exporting Countries

 

Mainly to Sri Lanka, Sudan, Ethiopia, Kenya, Uganda, Yemen, Bangladesh, Myanmar, Tanzania, Uzbekistan, Kazakhstan, Afghanistan, and Turkmenistan.

 

 

Bankers

 

·         Bank Islami Pakistan Limited, Pakistan.

·         Habib Bank Limited, Pakistan.

·         United Bank Limited, Pakistan.

·         Soneri Bank Limited, Pakistan.

·         Askari Bank Limited, Pakistan.

·         Faysal Bank Limited, Pakistan.

 

 

Memberships

 

·         Pakistan Pharmaceutical Manufacturers Association.

·         Karachi Chamber of Commerce & Industry.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

          Rs. 102.65

UK Pound

1

          Rs. 152.50

Euro

1

          Rs. 110.25

 

 

Comments

 

Subject Company was established in 1978 and is engaged in manufacture & marketing of Pharmaceutical Products. Market reputation is good. Trade relations are reported as fair. Company can be considered for normal business dealings at usual trade terms and conditions.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.20

UK Pound

1

Rs.92.93

Euro

1

Rs.68.03

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

MNL

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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