MIRA INFORM REPORT

 

Report No. :

336463.2

Report Date :

05.11.2015

 

IDENTIFICATION DETAILS

 

Name :

ANEEB PHARMACEUTICALS (PVT) LIMITED

 

 

Registered Office :

20 - New Anarkali, Lahore

 

 

Country :

Pakistan 

 

 

Year of Establishment :

2001

 

 

Com. Reg. No.:

0042269

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Subject is engaged in manufacture & marketing of pharmaceutical products

 

 

No. of Employee :

72        

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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-fourth of output and two-fifths of employment. Textiles account for most of Pakistan's export earnings, and Pakistan's failure to diversify its exports has left the country vulnerable to shifts in world demand. Official unemployment was 6.9% in 2014, but this fails to capture the true picture, because much of the economy is informal and underemployment remains high. Pakistan's human development continues to lag behind most of the region.. As a result of political and macroeconomic instability, the Pakistani rupee has depreciated more than 40% since 2007. The government agreed to an International Monetary Fund Standby Arrangement in November 2008 to preventa balance of payments crisis, but the IMF ended the Arrangement early because of Pakistan's failure to implement required reforms. The economy has stabilized, it continues to underperform and foreign investment has not returned to levels seen during the mid-2000s, due to investor concerns related to governance, electricity shortages, , and a slow-down in the global economy. Remittances from overseas workers, averaging more than$1 billion a month, remain a bright spot for Pakistan. After a small current account surplus in fiscal year 2011 (July 2010/June 2011), Pakistan's current account turned to a deficit where it remained through 2014, spurred by higher prices for imported oil and lower prices for exported cotton. In September 2013, after facing balance of payments concerns, Pakistan entered into a three-year, $6.7 billion IMF Extended Fund Facility. The Sharif government has since made modest progress implementing fiscal and energy reforms, and in December 2014 the IMF described Pakistan's progress as "broadly on track." Pakistan remains stuck in a low-income, low-growth trap, with growth averaging about 3.5% per year from 2008 to 2014. Pakistan must address long standing issues related to government revenues and the electricity and natural gas sectors 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

 

Company name

 

ANEEB PHARMACEUTICALS (PVT) LIMITED

 

 

Full Address       

 

Registered Address

20 - New Anarkali, Lahore, Pakistan

                       

Tel #

92 (42) 37225713, 37354006, +923077225713

Fax #

92 (42) 37354006

Email

aneebpharma@brain.net.pk

 

 

Short Description Of Business

 

a.

Nature of Business      

Engaged in manufacture & marketing of Pharmaceutical Products

b.

Incorporated

2001

c.

Registration No.

0042269

 

 

Branches

 

Address

24 K.M., Badian Road, Lahore, Pakistan

Tel #

92 (42) 35601407, 35601408

Fax #

92 (42) 35601409

 

 

Auditors

 

Azim & Co.

(Chartered Accountants)

55/1, Bank Road, Rawalpindi, Pakistan

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 2001

 

6.

Authorized Capital    

Rs. 15,000,000/- divided into 1,500,000 shares of Rs. 10/- each

 

Issued & Paid up Capital

Rs. 10,000,000/- divided into 1,000,000 shares of Rs. 10/- each

 

 

Details of Management

 

Names

Designation

Mr. Ch. Shahid Sharif

 

Mr. Atif Sharif

 

Mr. Umair Sharif

Chief Executive

 

Director

 

Director

 

 

Shareholders                

 

Names

No. of Shares

Mr. Ch. Shahid Sharif

 

Mrs. Ghazala Shahid

 

Mr. Atif Sharif

 

Mr. Umair Sharif

 

Mr. Ch. Aneeb Sharif

 

Mrs. Tahmina Salman Khan

 

Mrs. Zahira Batool

237,728

 

237,443

 

135,679

 

135,660

 

135,660

 

67,830

 

50,000

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

Subsidiary

 

None

 

ASSOCIATED COMPANIES

 

Aneeb Homeopethic Laboratories, Pakistan.

Majeed Medical Co., Pakistan.

 

Business Activities

 

Manufacture & Marketing of Pharmaceutical Products including Anti Anemic, Anti Depressant, Anti Epileptic, Anti Histamine, Anti Malarial, Anti Rheumatic, Anti Ulcerant, Antibiotic, Cough Supressant etc

 

 

Number of Employees

 

72        

 

 

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

 

Year

In Pak Rupees

2014

80,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

 

ZHEJIANG TIANXIN PHARMACEUTICAL CO. LTD, CHINA.

JIANGXI MEDICINES AND HEALTH PRODUCTS, CHINA.

ZHEJIANG CHEMICAL IMPORT & EXPORT CO., CHINA.

 

 

Distributors Network

 

Mainly exist at major cities of Pakistan

 

 

Importing Countries

 

Subject import globally from Companies belongs to China & India. Its global trade suppliers are Companies related to Pharmaceutical Raw Materials

 

Bankers

           

(1) The Bank of Punjab, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) United Bank Limited, Pakistan.

(4) Askari Bank Limited, Pakistan.

 

(Total Mortgage obtained PKR 71,198,000/-)

 

 

Memberships

 

Lahore Chamber of Commerce & Industry.(LCCI)

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

          Rs. 105.40

UK Pound

1

          Rs. 162.00

Euro

1

          Rs. 115.75

 

 

Comments

 

Subject Company was established in 2001 and is engaged in manufacture & marketing of Pharmaceutical Products. Overall reputation is normal. 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.65.57

UK Pound

1

Rs.101.13

Euro

1

Rs.71.80

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ASH

 

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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