MIRA
INFORM REPORT
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Report Date : |
08.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ESKE S.R.L. |
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Registered Office : |
Jr. Victor Mantilla 237-245, Surquillo, Lima 34 |
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Country : |
Peru |
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Date of Incorporation : |
15.02.1999 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of pharmaceutical products for human use, such
as: oncology products, antiretroviral, bronchia dilators, vaccines against B hepatitis,
peptic ulcers and amino acids. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY
NAME :
ESKE S.R.L.
TRADE NAME :
"DROGUERIA
ESKE SRL"
TAXPAYER
REGISTRATION : RUC 20424721400
OPERATING STATUS : Active
MAIN ADDRESS :
Jr.
Victor Mantilla 237-245, Surquillo,
CITY/PROVINCE/STATE :
Lima
34
COUNTRY : PERU
TELEPHONE : (511)241.3110/241.3112/261.4477
FAX :
(511)446.4281
E - MAIL : gerencia@eskegroup.com
SUMMARY
Incorporation :
1999
Operating Status : Active
Last Capital :
S/.5,000,000.=
Nuevos Soles
Shareholders'
Equity : S/.11,053,397.=
Nuevos Soles (Al 31.12.2006)
Annual Sales :
43,621,315.00
Nuevos Soles
Financial
Situation : LIGHTLY FAIR
Employees :
300
Rating :
Satisfactory
Payments :
Delays
but within sector norms
QUALIFICATION
RATING : Satisfactory
PAYMENTS : Delays but within sector norms
LEGAL BACKGROUNDS
LEGAL STATUS :
Limited
Liability Partnership
DATE OF
INCORPORATION : 15FEB1999
REGISTERED IN :
Lima
NOTARY OFFICE :
Juan Carlos
Sotomayor Vitela
DURATION : Perpetual
REGISTRATION :
Entry
70208797
INITIAL
CAPITAL : S/.17,000.= Nuevos Soles
CURRENT PAID-IN
CAPITAL : S/.5,000,000.=
Nuevos Soles
SHAREHOLDERS'
EQUITY : S/.11,053,397.= Nuevos Soles (as of 31/12/2006)
TYPE OF SHARES :
Interests
SHARE VALUE :
S/.3.40
Nuevos Soles
CURRENT EXCHANGE
RATE :
S/.2.97
per USD1
COMMENTS -
The Company is a member of the Chamber of Commerce of Lima.
HISTORY
Founders: Harish Kimar Vishindas Kimatral and Rohit Ratnakar Rao.
DIRECTORS / EXECUTIVES /
SHAREHOLDERS
FULL NAMES /
COMPANY NAME TITLE OWNERSHIP
%
HURTADO PAZOS, MARCO ANTONIO
General Manager/Legal Rep
CORONADO CHURA, DELIA Finance
Manager
VASU, NIPANI Commercial
Manager
LUBRIN GUARDAMINO, JUAN ANDRES
Operations Manager
GONZALES SAENZ, DAVID Medical
Director
VELA, VICTOR Accountant
RATNAKAR RAO, ROHIT Member 50%
VISHINDAS KIMATRAL, HARISH KUMAR
Member 50%
WHO IS WHO ?
HURTADO PAZOS,
MARCO ANTONIO
NATIONALITY
: Peruvian BORN
: 14APR1957
DOC. OF IDENT. : DNI 06755276
PROFESSION
: Psychologist
Associated as per
our database to :
Company
Title Tax.
Reg. Country
DROGUERIA LABORATORIO BAXLEY GROUP SAC
General Manager 20504587844 PERU
FALCON ENTERPRISE SAC
Manager/Legal
Rep. 20502590309 PERU
CORONADO CHURA,
DELIA
NATIONALITY
: Peruvian
Associated as per
our database to :
Company Tax.
Reg. Country
DROGUERIA LABORATORIO BAXLEY GROUP SAC
20504587844 PERU
RATNAKAR RAO, ROHIT
NATIONALITY
: Indian BORN
: 31OCT1964
DOC. OF IDENT. : CE 111852
HOME ADDRESS
: Boulevard 350, San
Borja
CIVIL STATUS
: Married to Sylvia
Carvajal Paez
LABOR AND/OR BUSINESS BACKGROUNDS -
Passport No. S-646085.
Represented by Marco Antonio Hurtado Pazos, according to Power registered
under the Entry 11069386 at the Natural Persons Registry.
Associated as per
our database to :
Company Title Tax. Reg. Country
FALCON ENTERPRISE SAC President 20502590309
PERU
VISHINDAS KIMATRAL,
HARISH KUMAR
NATIONALITY
: Indian
DOC. OF IDENT. : PAS Z-1002602
LABOR AND/OR BUSINESS BACKGROUNDS .-
Represented by Marco Antonio Hurtado Pazos, according to Power registered
under the Entry 11069370 at the Natural Persons Registry.
RELATED COMPANY(IES)
The Company is part of the ESKE GROUP, an international corporation made
up of the most important pharmaceutical laboratories of India and which gathers
several companies operating in Latin America (Chile, Bolivia, Peru, Paraguay,
Brazil, Ecuador, Argentina and Mexico).
COMPANY NAME COUNTRY TAX.REG. RELATION
FALCON ENTERPRISE SAC PERU 20502590309 Related
BUSINESS
MAIN ACTIVITY -
Import and distribution of pharmaceutical products for human use, such
as: oncology products, antiretroviral, bronchia dilators, vaccines against B
hepatitis, peptic ulcers and amino acids.
IMPORT : Yes Cuba, France, Italy, Australia, Korea,
USA, China, Argentina, India
Annual Imports in US $(CIF) :
Year
Amount
2006 6,964,147.00
2005 4,174,278.00
2004 2,406,771.00
2007 7,522,828.00
EXPORT : Yes Ecuador, Bolivia
Annual Exports in US $(FOB) :
Year
Amount
2004 127,286.00
2005 105,579.00
2006 40,684.00
2007 224,819.00
% CASH
SALES/METHOD : 50%
% CREDIT
SALES/TERMS : 50% (30 and 45 days)
% DOMESTIC
PURCHASES : 30%
% FOREIGN
PURCHASES : 70%
SELLING
TERRITORY : Domestic and international markets
EMPLOYEES : 300
FACILITIES -
Premises
: Own
Area
: 800 m2 Floors : 3
Equipment
: Suitable for its activities
Condition
: Good; premises
located at a commercial area
Use :
Headquarters,
offices and warehouse
Remarks and other Premises -
Facilities cover a built area of 2,000 m2.
In 2004, they acquired through a leasing transaction with Banco de
Crédito (US$250,000), the premises contiguous to the above address, under No.
255.
Subject has a chain of drugstores located at:
- Av. José Galvez 195, Anchas - Santa - Chimbote
- Av. Jorge Chávez 1799 20, C.H. Las Alamedas de Surco, Block D2, Surco
Viejo, (Lima 33)
- Av. Brasil 2658-A, frente al Hospital de Policía, Pueblo Libre,
Magdalena Vieja (Lima 21)
- Av. Brasil 2656-B, 2do.Piso, Pueblo Libre, Magdalena Vieja (Lima,21)
- Jr. Camana 641, Lima (Lima 1)
- Jr. Gamarra 0652, Botica Popular de la Municipalidad de Trujillo, La
Libertad.
- Edificio 24 C.H.San Gabino 4, ET Dpto.C, Surco (Lima 33)
- Av. Grau 629, Barranco (Lima 4)
- Av. 28 de Julio 1266, La Victoria (Lima 13)
- Av. 28 de Julio 1260, La Victoria (Lima 13)
- Calle Alvares Calderón, José 492 C.R. Torres de Limatambo, San Borja
(Lima 43)
There are warehouses at:
- Jr. Victor Mantilla 266, Urb.del Médico, Surquillo (Lima 34)
- Jr. Victor Mantilla 245, Urb.del Médico, Surquillo (Lima 34)
COMMENTS -
Subject started operating on April 8th, 1999.
Products are traded on a retail basis through a drugstores chain located
in Lima, some of them depending on Subject and others ran by the different
companies of the Group, t/a DE A SOL, SOLIDARIAS, LA CARIDAD, etc.
Clients: Public in general, clinics, hospitals and retail dealers.
The Company enjoys the franchise rights of the firm APTECH (from India)
and it is the only distributor in the country for the SERUM INSTITUTE.
In the international market, Subject products are sold through drugstore
chains.
Subject is a supplier of the Peruvian Government.
FINANCIAL INFORMATION
Victor Vela (Accountant), agreed to provide information and updated
other details.
He included Balance Sheet for the Fiscal Year ended as of December 31,
2006, expressed in Nuevos Soles.
Balance sheet for the previous period 2005 is also included for
reference purposes.
BALANCE SHEET DATE : 31DEC2006 31DEC2005
TYPE OF BALANCE SHEET : Annual Annual
BALANCE SHEET OF : 12
months 12 months
CURRENCY : Nuevos Soles
Nuevos Soles
EXCHANGE RATE PER US$ : 3.20 3.43
ASSETS
TOTAL CURRENT :
20,280,575.00
15,721,234.00
FIXED : 19,357,659.00 7,645,844.00
TOTAL ASSETS :
39,638,234.00 23,367,078.00
LIABILITIES
TOTAL CURRENT :
14,113,005.00
9,431,448.00
LONG TERM :
14,471,832.00 5,358,759.00
TOTAL EQUITY :
11,053,397.00
8,576,871.00
TOTAL LIABILITIES :
39,638,234.00 23,367,078.00
SALES :
43,621,315.00
34,150,158.00
PROFIT (LOSS) :
2,476,526.00
2,516,648.00
LIQUIDITY RATIO : 1.44 (Current Assets/Current Liabilities)
DEBT-TO-EQUITY RATIO: 78.32% (Shareholders'equity/Current
Liabilities)
PROFITABILITY MARGIN: 5.68%
(Profits/Sales)
WORKING CAPITAL : 6,167,570.00
(Current Assets - Current Liabilities)
FINANCIAL
SITUATION : LIGHTLY FAIR
According to the last Financial Statement, Subject's Financial Position
is considered slightly Extended, as Liquidity Ratio is lightly acceptable.
Working Capital is lightly satisfactory. Liabilities are moderately supported
by shareholder's equity. Results are acceptable.
INSURANCE –
Company Against
EL PACIFICO PERUANO-SUIZA CIA. DE SEGURO General risks
PAYMENTS RECORD
TRADE REFERENCES –
Line
of Credit Monthly
Average Terms(days)) Performance? Time
Products/Services Supplier
1 Open No specified Draft/90 day Prompt +5
yrs Pharmaceuticals Domestic
2 S/. 150,000.= S/ . 45,000.= Draft/90 day Prompt 5 years Generic medicines Domestic
3 US$ 5,000.= US$ 2,000/3,000 Draft/30, 45 Prompt 3 years
Cardboard boxes Domestic
4 US$ 300,000.= US$
10,000/130,000
Prompt
06/2006 Customs services Domestic
5 No specified US$ 5,000/8,000 Delinquent
2005 Customs services Domestic
6 US$ 100,000.= US$ 20,000.= Draft/30, 90 Prompt One year Customs
services Domestic
7 No specified US$ 40,000/50,000 Drafts/30, 9 Sometimes delay One year Customs services Domestic
8 No specified US$ 2,000.= Inv/15 days Prompt 4
years Customs clearances Domestic
9 No specified US$ 1,100.= Draft/30 day Prompt 11/2005 Advertising Domestic
COMMENTS -
TERRA ADUANERA SAC reported to deal with Subject until 2006 because
Subject always delayed to pay.
TECNOLOGIA EN SERVICIOS AG. DE ADUANA SA considered Subject to be an
average client.
EDITORIAL E IMAGENES SAC dealt with Subject until February 2006. Subject
was a good client.
Other suppliers consider Subject to be a good client.
Other suppliers refused to give information.
LIST OF DOMESTIC
SUPPLIERS -
Suppliers listed Alphabetically. There is not relationship as for the order
above
Supplier Telephone
Aduatécnica Postal S.A.
Agencia de Aduana Transoceanica SA (511)
4653196
Cipla Ltda.
Disfroza SAC (511)
4636040
Editorial e Imagenes SAC (511)
2411178
Fami Care Ltda.
Gen Far Perú S.A.
Glenmark Pharmaceuticals SA
Instituto Biologico Argentino Salc
Kirloskar Brothers Ltda.
Laboratorio Disploza S.A.C.
Laboratorios Induquímica (511)
6176000
Laboratorios Portugal SRL (5154)
251292
Laboratorios Trifarma S.A.
Lupin Limited
Manufacturas y Papeles y Cartones S.A. (511)
4772001
Midas care Pharmaceuticals Ltda.
Nicholas Piramal India Ltda.
Savar Agente de Aduanas SA (511)
6137070
Sun Pharmaceutical Ind. Ltda.
Taiwan Trade Aduana SA (511)
5756690
Tecnoimagen del Perú S.A (511)
4440635
Tecnologia en Servicios Ag. de Aduana SA (511)
2224210
Terra Aduanera SAC (511)
4537906
Til Exports Put Ltda.
Unidos Corporation
USP The Standard of Quality The United States
Wockhard Limited
CREDIT RISK CENTRAL
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SUMMARY OF PROTESTS AS ACCEPTOR
Year 004:
- 15 drafts for a total amount of S/.56,162.41 and US$.8,848.17
(02 drafts to be paid for
S/.2,641.80 and US$.848.17)
- 01 promissory note for a total sum of US$.44.58 (outstanding)
Year 2005:
- 20 drafts for a total amount of S/.73,823.45 and US$.6,651.42
(06 drafts to be paid for the sum
of S/.18,189.36 and US$.1,132.88)
Year 2006:
- 03 Drafts for a total amount of S/.8,636.55 and US$.1,315.42
(outstanding)
- 01 Promissory note for a total sum of US$.15,262.11 (outstanding)
Year 2007:
- 03 checks for a total sum of S/.17,691.83 (outstanding)
- 09 drafts for a total sum of US$.284,582.86 (08 drafts to be paid for
US$.279,326.38)
BANKING INFORMATION
BANKERS
Bank
BANCO INTERBANK
BANCO DE CREDITO DEL PERU
SCOTIABANK SAA
Subject is client of the aforesaid banks which have extended various
credit facilities. No adverse found. No more details could be obtained.
SUPERINTENDENCY OF
BANK & INSURANCE - SBS .-
The SBS reported the following debts before the
Financial System as at 31OCT2007 (Last Report)
Obligations DC(S/.) FC(US$)
Advance in current account cont 86,157.00
221,965.00
Credit cards-contract 13,601.00 5,495.00
Overdrafts-current account 26,115.00 166,372.00
Discounts-drafts 1,113,092.00 98,062.00
Loans 743,000.00 599,017.00
Financial Leasing 0.00 2,680,367.00
Foreign trade credit 20,698.00 2,531,730.00
Letters of indemnity 6,631,299.00 181,387.00
Letters of credit 0.00 240,656.00
Banking acceptance 0.00 225,392.00
-------------------- --------------------
Total Indebtedness S/. 8,633,962.00 US$ 6,950,443.00
Guarantees S/. 1,384,631.00 US$ 1,662,457.00
Debt structure for Bank (domestic currency)
Bank Amount (S/.)
CREDILEASING 440,193.00
CONTINENTAL
3,415,281.00
DE CREDITO 2,225,873.00
B.I.F. 1,825,139.00
COMERCIO 1,147,970.00
FINANCIERO 4,914,798.00
WIESE SUDAMERIS
15,480,415.00
INTERBANK 21,706.00
Banco Wiese Sudameris SAA is now Scotiabank.
GENERAL INFORMATION
At end of October 2006, press releases accused Subject Company of having
benefited without a Public Bidding, from the campaign carried out by the
Government in office against the measles, and from the acquisition of vaccines
for US$22 Million Dollars from The Serum Institute of India Ltd., through ESKE
S.R.L., which is their sole distributor in the country.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)