|
Report No. : |
349552 |
|
Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
DAROU PAKHSH PHARMA CHEM COMPANY |
|
|
|
|
Registered Office : |
Taleghani Ave Daroo
Pakhsh Street, KM 18 of Karaj Freeway Tehran
|
|
|
|
|
Country : |
Iran |
|
|
|
|
Financials (as on) : |
30.03.2015 |
|
|
|
|
Date of Incorporation : |
18.03.1997 |
|
|
|
|
Com. Reg. No.: |
129207 |
|
|
|
|
Legal Form : |
Public Joint Stock |
|
|
|
|
Line of Business : |
Manufacture of human and animal
Pharmaceutical products, atenolol, azithromycin dihydrate, carvedilol,
ferrous fumarate, duloxetine, mebererine hydrochloride.. |
|
|
|
|
No. of Employees : |
585 |
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) |
|
Iran |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
IRAN - ECONOMIC
OVERVIEW
Iran's economy is marked by statist policies, inefficiencies, and reliance on oil and gas exports, but Iran also possesses significant agricultural, industrial, and service sectors. The Iranian government directly owns and operates hundreds of state-owned enterprises and indirectly controls many companies affiliated with the country's security forces. Distortions - including inflation, price controls, subsidies, and a banking system holding billions of dollars of non-performing loans - weigh down the economy, undermining the potential for private-sector-led growth. Private sector activity includes small-scale workshops, farming, some manufacturing, and services, in addition to medium-scale construction, cement production, mining, and metalworking. Significant informal market activity flourishes and corruption is widespread. Fiscal and monetary constraints, following the expansion of international sanctions in 2012 on Iran's Central Bank and oil exports, significantly reduced Iran's oil revenue, forced government spending cuts, and sparked a sharp currency depreciation. Iran’s economy contracted for the first time in two decades during both 2012 and 2013, and grew only slightly 2014. Iran continues to suffer from high unemployment and underemployment. Lack of job opportunities has prompted many educated Iranian youth to seek employment overseas, resulting in a significant "brain drain." In June 2013, the election of President Hasan RUHANI generated widespread public expectations of economic improvement and greater international engagement. In connection with ongoing international negotiations over Iran’s nuclear program the limited sanctions relief for Iran provided under the Joint Plan of Action of November 2013, helped to forestall the decline in the economy in 2014.
|
Source
: CIA |
Company Name:
Darou Pakhsh Pharma Chem Company
Company Trade Name: DPPC
Address: Taleghani
Ave Daroo Pakhsh Street, KM 18 of Karaj Freeway
Tehran, Iran
Postal Code: 1397116396
P.O.BOX: 13185-877
Telephone: + 98 21 44981191-3, 44982122-3
Fax: + 98 21 44985053
Website: www.dppcco.com
E-mail: info@dppcco.com,
dppc@dppcco.com
Current Legal Form:
Public Joint Stock Company
Registration Address: Darou
Pakhsh Street, KM 18 of Karaj Freeway
Tehran 1397116396, Iran
Start Date: 18/03/1997
Registration Number: 129207
Registration Date: 18/03/1997
Registration Town: Tehran
National Code ID: 10101725563
Nominal Capital: -
Share No: -
Share Value: -
|
Shareholder Names |
|
Ggostaresh Darou Pakhsh Commercial Company
30% |
|
Darou Pakhsh Raw material Manufacture Company 20% |
|
Darouei Tamein investment Company
15% |
|
Darou Pakhsh Distribution Company
10% |
|
Rah Avard Tamein Chemical Company
10% |
|
Public 15% |
Name:
Mr. Hasan Rafati
Position within the company:
Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name:
Dr. Majid Manavi
Position within the company:
Vice Chairman
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name:
Mr. Hamid Reza Alipour Mishkani
Position within the company:
Member& Managing Director
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name:
Mr. Mohammad Reza Tagheian Najaf Abadi
Position within the company:
Member& Finance Assistant
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name:
Mr. Alireza Asadi
Position within the company:
Member
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mr. Ali Modares
Position within the company:
Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name: Mrs. Eng. Fariba Ghaderi
Position within the company:
Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name:
Dr. Shirvan Daraei
Position within the company:
Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Name:
Eng . Houman Aghasi Beig
Position within the company:
R&D Manager
Country of Birth: Iran
Nationality: Iranian
Can fluently speak: Farsi- English
Manufacture of human and animal Pharmaceutical products, atenolol,
azithromycin dihydrate, carvedilol, ferrous fumarate, duloxetine, mebererine
hydrochloride,,...
Local Reporters consider the investigated company to be Large
in their field of concern
Company Employs: 585
Operates from: Owned , Office, Laboratory,
Factory, Warehouse
Location: Central Business
Area, Main Road
Import %: 40%- Finished Goods
Import term:
Bank Transfer
Import from:
Germany, China
Finished Goods
Export %: 35%
Export from: Georgia,
Afghanistan
Territory: 100 % Nationality
Type of Customer:
Group Companies, Retailers, Wholesalers
Terms of sales: letters of credit
Vehicles:
Total number of vehicles: 40
Gostaresh Darou Pakhsh Commercial Company
Shirin Darou
Company
Iran Antibiotic Company
Darou Pakhsh
Raw material Manufacture Company
Saba Tamein Company
Saderat Bank
Branch:-
Please find the attachment.
Auditor: Azmoudeh Karan
Auditing Institute
Solicitor: Dash Va Hamkaran Auditing Institute
Subject's payments reported to be: Non- Complaint
Name/Title: Mr. Hamid Reza Alipour
Mishkani, confirmed it.
Local Reputation:
The company being investigated is considered by local reporters to be a
Normal Trade Risk and to be fair.
Owner/Shareholders Comments:
All of owners involved in the running of the business
Age of Business: Old business
Darou Pakhsh
Pharma Chem
Source: Stock
Exchange of Iran
Currency:
Iranian Rials
Figures:
000,000
|
Description |
End of real to |
End of past financial year |
Percent of |
Description |
End of real to |
End of past financial year |
Percent of |
|
30/03/2015 |
30/03/2014 |
changes |
30/03/2015 |
30/03/2014 |
changes |
||
|
Current
Assets |
|
|
|
Liabilities |
|
|
|
|
Cash |
13,536 |
24,781 |
-45 |
Current
Liabilities |
|
|
|
|
Current
Investment |
0 |
0 |
-- |
Current
Trade Payables |
12,352 |
1,857 |
565 |
|
Current
Trade Receivables |
275,708 |
74,759 |
269 |
Current
Payables To Related Paties |
221 |
10,833 |
-98 |
|
Current
Receivables Due From Related Paties |
124,437 |
128,612 |
-3 |
Other
Current Payables |
66,496 |
70,561 |
-6 |
|
Other
Current Receivables |
12,106 |
69,322 |
-83 |
Deferred
Income |
1,411 |
1,351 |
4 |
|
Inventories |
208,843 |
209,909 |
-1 |
Current
Tax Liabilities |
27,676 |
30,599 |
-10 |
|
Current
Advances To Suppliers |
37,149 |
79,914 |
-54 |
Dividends
Payable |
107,127 |
33,128 |
223 |
|
Current
Prepaid Expenses |
3,059 |
4,377 |
-30 |
Current
Financial Liabilities At Amortised Cost |
327,591 |
296,415 |
11 |
|
Non-Current
Assets Or Disposal Groups Classified As Held For Sale Or As Held For
Distribution To Owners |
0 |
0 |
-- |
Liabilities
Included In Disposal Groups Classified As Held For Sale |
0 |
0 |
-- |
|
Total
Current Assets |
674,838 |
591,674 |
14 |
Total
Current Liabilities |
542,874 |
444,744 |
22 |
|
Non-Current
Assets |
|
|
|
Non-Current
Liabilities |
|
|
|
|
Non
Current Receivables |
2,407 |
0 |
-- |
Non
Current Payables |
0 |
0 |
-- |
|
Non
Current Investment |
3,035 |
9,177 |
-67 |
Non
Current Financial Liabilities At Amortised Cost |
0 |
0 |
-- |
|
Property,
Plant And Equipment |
98,973 |
81,015 |
22 |
Provisions
For Employee Benefits |
14,980 |
13,270 |
13 |
|
Intangible
Assets And Goodwill |
705 |
720 |
-2 |
Total
Non-Current Liabilities |
14,980 |
13,270 |
13 |
|
Other
Assets |
0 |
2,004 |
-- |
Total
Liabilities |
557,854 |
458,014 |
22 |
|
Total
Non-Current Assets |
105,120 |
92,916 |
13 |
Equity |
|
|
|
|
|
|
|
|
Issued
Capital |
85,000 |
85,000 |
0 |
|
|
|
|
|
Share
Premium |
0 |
0 |
-- |
|
|
|
|
|
Receipts
For Unregistered Capital |
0 |
0 |
-- |
|
|
|
|
|
Statutory
Reserve |
8,500 |
8,118 |
5 |
|
|
|
|
|
Other
Reserves |
0 |
0 |
-- |
|
|
|
|
|
Revaluation
Surplus Of Non-Current Assets Held For Sale |
0 |
0 |
-- |
|
|
|
|
|
Revaluation
Surplus |
0 |
0 |
-- |
|
|
|
|
|
Exchange
Reserve For Governmental Corporations' Assets And Liabilities |
0 |
0 |
-- |
|
|
|
|
|
Retained
Earnings |
128,604 |
133,458 |
-4 |
|
|
|
|
|
Total
Equity |
222,104 |
226,576 |
-2 |
|
Total
Assets |
779,958 |
684,590 |
14 |
Total
Equity And Liabilities |
779,958 |
684,590 |
14 |
|
Description |
Real |
Real |
Percent of |
|
Period end to date |
Period end to date |
changes |
|
|
30/03/2015 |
30/03/2014 |
|
|
|
(Audited) |
(Audited) |
|
|
|
Period
end to date |
30/03/2015 |
30/03/2014 |
|
|
Profit
(Loss) |
|
|
|
|
Revenue |
741,490 |
650,938 |
14 |
|
Cost
Of Sales |
-557,536 |
-449,361 |
24 |
|
Gross
Profit |
183,954 |
201,577 |
-9 |
|
Distribution
And Administrative Expenses |
-29,792 |
-24,172 |
23 |
|
Other
Operating Income (Expense) |
4,782 |
471 |
915 |
|
Total
Costs |
-25,010 |
-23,701 |
6 |
|
Profit
(Loss) From Operating Activities |
158,944 |
177,876 |
-11 |
|
Finance
Costs |
-64,866 |
-62,190 |
4 |
|
Other
Gains (Losses) |
3,157 |
3,490 |
-10 |
|
Profit
(Loss) Before Tax |
97,235 |
119,176 |
-18 |
|
Income
Tax Expense |
-21,807 |
-26,815 |
-19 |
|
Profit
(Loss) From Continuing Operations |
75,428 |
92,361 |
-18 |
|
Profit
(Loss) From Discontinued Operations |
0 |
0 |
-- |
|
Profit
(Loss) |
75,428 |
92,361 |
-18 |
|
Basic
Earnings (Loss) Per Share |
|
|
|
|
Basic
Earnings (Loss) Per Share From Continuing Operations - Operating |
0 |
0 |
-- |
|
Basic
Earnings (Loss) Per Share From Continuing Operation- Non-Operating |
0 |
0 |
-- |
|
Basic
Earnings (Loss) Per Share From Discontinued Operations |
0 |
0 |
-- |
|
Basic
Earnings (Loss) Per Share |
0 |
0 |
-- |
|
Diluted
Earnings (Loss) Per Share |
|
|
|
|
Diluted
Earnings (Loss) Per Share From Operating Continuing Operations |
0 |
0 |
-- |
|
Diluted
Earnings (Loss) Per Share From Non-Operating Continuing Operation |
0 |
0 |
-- |
|
Diluted
Earnings (Loss) Per Share From Discontinued Operations |
0 |
0 |
-- |
|
Diluted
Earnings (Loss) Per Share |
0 |
0 |
-- |
|
Statement
Of Income And Retained Earnings, Additional Disclosure |
|
|
|
|
Profit
(Loss) |
75,428 |
92,361 |
-18 |
|
Profit
(Loss) |
133,458 |
79,715 |
67 |
|
Retained
Earnings At Beginning Of Period |
0 |
0 |
-- |
|
Prior-Period
Adjustments |
133,458 |
79,715 |
67 |
|
Adjusted
Retained Earnings, Begining Balance |
|
|
|
|
Changes
In Retained Earnings |
0 |
0 |
-- |
|
Transfer
From Other Equity Items |
0 |
0 |
-- |
|
Changes
In Capital From Retained Earnings |
-79,900 |
-34,000 |
135 |
|
Dividends
Declared And Paid Or Payable |
-382 |
-4,618 |
-92 |
|
Transfer
To Statutory Reserve |
0 |
0 |
-- |
|
Transfer
To Other Reserves |
-80,282 |
-38,618 |
108 |
|
Total
Changes In Retained Earnings |
128,604 |
133,458 |
-4 |
|
Retained
Earnings At End Of Period |
887 |
1,087 |
-18 |
|
Listed
Capital |
85,000 |
85,000 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
UK Pound |
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
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.