|
|
|
MIRA INFORM REPORT
|
Report No. : |
502685 |
|
Report Date : |
16.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
STANDARD DRUG COMPANY |
|
|
|
|
Registered Office : |
E-6, S.I.T.E., Hyderabad |
|
|
|
|
Country : |
Pakistan |
|
|
|
|
Financials (as on) : |
2016 [Summarized] |
|
|
|
|
Date of Incorporation : |
2007 |
|
|
|
|
Legal Form : |
Partnership |
|
|
|
|
Line of Business : |
Manufacture & Marketing of
Pharmaceutical Drugs and Medicines |
|
|
|
|
No. of Employees : |
About 30 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Maximum Credit Limit : |
12,527.80 USD |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Pakistan |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
PAKISTAN - ECONOMIC OVERVIEW
Decades of internal political disputes and low levels of foreign
investment have led to underdevelopment in Pakistan. Pakistan has a large
English-speaking population. A challenging security environment, electricity
shortages, and a burdensome investment climate have deterred investors.
Agriculture accounts for one-fifth of output and two-fifths of employment.
Textiles and apparel account for more than half of Pakistan's export earnings;
Pakistan's failure to diversify its exports has left the country vulnerable to
shifts in world demand. Pakistan’s GDP growth has gradually increased since
2012. Official unemployment was 6% in 2017, but this fails to capture the true
picture, because much of the economy is informal and underemployment remains
high. Human development continues to lag behind most of the region.
In 2013, Pakistan embarked on a $6.3 billion IMF Extended Fund Facility,
which focused on reducing energy shortages, stabilizing public finances, increasing
revenue collection, and improving its balance of payments position. The program
concluded in September 2016. Although Pakistan missed several structural reform
criteria, it restored macroeconomic stability, improved its credit rating, and
boosted growth. The Pakistani rupee, after heavy depreciation in 2013, remained
relatively stable against the US dollar in 2015-17. Balance of payments
concerns have reemerged, however, as a result of increased imports and
declining remittances.
Pakistan must continue to address several longstanding issues, including
expanding investment in education and healthcare, adapting to the effects of
climate change and natural disasters, improving the country’s business
environment, reducing dependence on foreign donors, and widening the country’s
tax base. Given demographic challenges, Pakistan’s leadership will be pressed
to implement economic reforms, promote further development of the energy
sector, and attract foreign investment to support sufficient economic growth
necessary to employ its growing and rapidly urbanizing population, much of
which is under the age of 25.
In an effort to boost development, Pakistan and China are implementing
the “China-Pakistan Economic Corridor,” with $60 billion in investments targeted
towards energy and other infrastructure projects. Pakistan believes CPEC
investments will enable growth rates of over 6% of GDP by laying the groundwork
for increased exports. CPEC-related obligations, however, have raised IMF
concern that capital outflows that will begin to increase in 2020.
|
Source
: CIA |
Business
Name
STANDARD
DRUG COMPANY
Full
Address
|
Registered
Address & Factory |
|
E-6, S.I.T.E., Hyderabad, Pakistan |
|
Tel No. |
92 (22) 3886685 |
|
Fax No. |
92 (22) 3886685 |
|
Email |
Short
Description Of Business
|
a. |
Nature of Business |
Manufacture & Marketing of
Pharmaceutical Drugs and Medicines |
|
b. |
Year Established |
2007 |
|
c. |
National Tax # |
2792866 - 7 |
Branches
|
Address |
530, Mashreq Centre, Opp. National Stadium, Karachi, Pakistan |
|
Tel # |
92 (21) 34251700, 34945123 |
|
Fax # |
92 (21) 34251700 |
Legal
Status
|
Subject Company was established as a Partnership business in 2007 |
Details
of Managing Partner / Partners
|
Names |
Nationality |
Address |
Occupation |
Designation |
|
Mr. Muhammad Siddique Mr. Abdul Ghaffar |
Pakistani Pakistani |
530, Mashreq Centre Opp.
National Stadium, Karachi 530, Mashreq Centre Opp. National Stadium, Karachi |
Business Business |
CEO / Managing Partner Partner |
Associates
A. Subsidiary
None
B. Associated Companies
- Do -
Products
(1) Subject Company is engaged in manufacture
& marketing of Pharmaceutical Drugs and Medicines.
(2) It purchases raw materials against D/A, D/P basis to its trade suppliers globally.
(3) Its import globally from
Companies belongs to India & China.
(3) Its major customers are Distributors, Traders, Pharmacies &
Hospitals etc.
(4) Subject operates from caption leased factory premises of area
measuring 2,500 Sq. Yard which is
situated at industrial area.
(5) Subject employs about 30
persons in its set up.
Annual
Sales Volume
|
Years |
In Pak Rupees |
|
2015 2016 |
15,000,000/- (Estimated) 29,000,000/- (Estimated) |
Capacity
& Production
|
The capacity and production of the Company’s
plant is indeterminable as it is multi-products and involves various process
of manufacturing |
Trade
Suppliers (Foreign)
Subject import globally
from Companies belongs to India & China. It’s global trade suppliers
are Companies related to Pharmaceutical Raw Materials
Bankers
United Bank Limited, Pakistan.
(2) Habib Bank Limited, Pakistan.
(3) Allied Bank Limited, Pakistan.
(4) MCB Bank Limited, Pakistan.
Comments
Subject Company was established in 2007 and is engaged in manufacture
& marketing of Pharmaceutical Drugs and Medicines. Trade relations are not known. Company is not well known in the local
businesses. Such as conducting business activity with the subject is
considered to be a trade risk. In view of current disturbed economic and
political situation, we would advise to deal with all the business in Pakistan
at safe and secured trade terms and conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
|
PKR |
1 |
INR 0.57 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.