MIRA INFORM REPORT

 

 

Report No. :

342239

Report Date :

26.09.2015

 

IDENTIFICATION DETAILS

 

Name :

S. J. & G. FAZUL ELLAHIE (PVT) LIMITED

 

 

Registered Office :

17, Maqboolabad Cooperative Housing Society, Block 7 & 8, Lal Mohammad Choudry Road, Karachi-75350

 

 

Country :

Pakistan

 

 

Com. Reg. No.:

0000881

 

 

Date of Incorporation :

1957

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Subject is engaged in manufacturing & marketing of Pharmaceutical Products

 

 

No. of Employee :

110

 

 

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 exportshas 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 MonetaryFUND 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 themid-2000’s, 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 sectorsin 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

 

S. J. & G. FAZUL ELLAHIE (PVT) LIMITED

 

 

Full Address       

 

Registered Address

17, Maqboolabad Cooperative Housing Society, Block 7 & 8, Lal Mohammad Choudry Road, Karachi-75350, Pakistan

                       

Tel #

92 (21) 34528707, 34528708

Fax #

92 (21) 34528709

Email

fazul@khi.compol.com 

 

 

Short Description Of Business

 

a.

Nature of Business      

Engaged in manufacturing & marketing of Pharmaceutical Products

b.

Year Established

1957

c.

Registration #

0000881

 

 

Factory Location

           

Address

E / 46, S.I.T.E., Karachi, Pakistan

Tel No.

92 (21) 32573049

Fax No.

92 (21) 32574648

 

 

Auditors

           

S.M. Rehan & Co.

(Chartered Accountants)

Suite # 414, 4th Floor, Progressive Plaza, Beaumont Road, Karachi, Pakistan

 

 

Legal Status

 

Subject Company was established as a Private Limited Company in 1957

 

 

6.

Authorized Capital    

Rs. 1,500,000/- divided into 15,000 shares of Rs. 100/- each

 

Issued & Paid up Capital

Rs. 700,000/- divided into 7,000 shares of Rs. 100/- each

 

 

Details of Directors

 

Names

Designation

Mr. Rehan Khalil

 

Mr. Khalil-ur- Rehman

 

Mr. Imran Khalil

 

Mr. Adnan Khalil

 

Mr. Mohammad Ibrahim

Chief Executive

 

Director

 

Director

 

Director

 

Director

 

 

Shareholders                

 

Name

No. of Shares

Mr. Mohammad Ibrahim

 

Mrs. Shafiqun Nisa

 

Mrs. Hamida Begum

 

Mrs. Nargis Begum

 

Mrs. Aasia Begum

 

Mr. Khalil-ur-Rehman

 

Mr. Adnan Khalil

 

Mr. Imran Khalil

 

Mr. Rehan Khalil

1,987

 

787

 

502

 

502

 

449

 

1,141

 

544

 

544

 

544

 

 

Associates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

 

A.         Subsidiary

 

None

           

B.         Associated Companies

 

-  Do -

 

 

Business Activities & Products

 

Manufacture & marketing of Pharmaceutical Products by its brand names of BUSRON, CARA, CEFPROX, CEROX, CINOFLOX, CONKAST, CONTOUR, DIGESTINE, DIKACINE, DINOFAC, DROXAYL, ENRICH, FALCICURE, FERRICURE FLOGOCID, GLICOZID, GLIT, GLYVISOL, KANACILLIN, KANACYN, KOVEX, LANZIT, MAGNETT, MEVRIN, OSTEOKARE, REXAFENAMIC, REXAPROFEN, SIMATIN, TEBRAZID, TELKOT, VIONEURINE, FORTE, VIOPHOS-B, XIB, ZECHIN

 

 

Number of Employees

 

110      

 

 

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

150,000,000/- (Estimated)

 

 

Trade Suppliers (Foreign)

 

PUNEET LABORATORIES, U.A.E.

ZHUHAI CHUMING DEVELOPMENT CO. LTD, CHINA.

CHUMING PHARMACEUTICAL LIMITED, CHINA.

LA-CHEM PHARMACEUTICAL, U.A.E.                

 

 

Customers

 

Mainly Distributors, Private & Government Hospitals, Pharmacies, Marketing Companies etc

 

 

Bankers

           

(1) MCB Bank Limited, Pakistan.

(2) Habib Bank Limited, Pakistan.

(3) Soneri Bank Limited, Pakistan.

(4) Bank Alfalah Limited, Pakistan.

(5) Habib Metropolitan Bank Limited, Pakistan.

 

 

Memberships

 

Karachi Chamber of Commerce & Industry.(KCCI)

Pakistan Pharmaceutical Manufacturers Association.(PPMA)

 

 

Foreign Exchange Rates

           

Currency

 

Unit

Pakistani Rupees

US Dollar

1

         Rs. 104.20

UK Pound

1

         Rs. 159.35

Euro

1

         Rs. 115.85

 

 

Comments

 

Subject Company was established in 1957 and is engaged in manufacture & marketing of Pharmaceutical Products. Market reputation is satisfactory. 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.66.10

UK Pound

1

Rs.100.89

Euro

1

Rs.73.96

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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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