MIRA
INFORM REPORT
|
Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
|
Name : |
SANDOZ ILAC SANAYI VE TICARET A.S. |
|
|
|
|
Formerly Known As : |
ILSAN ILAC VE HAM MADDELERI SANAYII A.S. |
|
|
|
|
Registered Office : |
Tavsantepe Mevkii Aydinli Yolu Sehit Musteba Sok. No: 1 Pendik- |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
22.08.1964 |
|
|
|
|
Com. Reg. No.: |
87638 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and Trade of Medicine |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
COMPANY IDENTIFICATION
|
NAME |
: |
SANDOZ ILAC SANAYI VE TICARET A.S. |
|
ADDRESS |
: |
Registered Head Office & Factory:
Tavsantepe Mevkii Aydinli Yolu Sehit Musteba Sok. No: 1 Pendik- Istanbul/ Turkey Administrative Office & 2nd
Factory: Gebze Plastikciler Organize Sanayi Bolgesi Ataturk Bulvari 9. Cad.
No: 1 Gebze- Kocaeli/ Turkey Branch Office: Istanbul Deri ve Endustri
Serbest Bolgesi (Free Zone) Kopuzlar
Cad. No:4 Kat.2 Tuzla- Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-216-458 33 00 90-212-275 07 00 90-262-751 31 01 |
|
FAX NUMBER |
: |
90-212-275 37 04 90-262-751 31 19 |
|
|
|
|
LEGAL STATUS AND HISTORY
|
TAX OFFICE / NO |
: |
Buyuk Mukellefler / 4730035262 |
|
REGISTRATION NUMBER |
: |
87638 |
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce Istanbul Chamber of Industry |
|
DATE ESTABLISHED |
: |
22.08.1964 |
|
LEGAL FORM |
: |
Joint Stock Company |
|
TYPE OF COMPANY |
: |
Private |
|
|
|
REGISTERED CAPITAL |
: |
YTL 31.716.099,19 |
|
|
|
PAID-IN CAPITAL |
: |
The subject has declared that the paid-in capital
is YTL 31.716.099,19 However there is no certification for the paid-in
capital. |
||
|
HISTORY |
: |
|
||
|
|
|
Previous Name |
: Ilsan Ilac ve Ham Maddeleri Sanayii A.S.
|
|
|
|
|
Name Changed On |
: 12.12.2003 (Commercial Registry Gazette Date/No:
17.12.2003/5948) |
|
|
|
|
Previous Name |
: Ilsan Ilac Sanayi ve Ticaret A.S. |
|
|
|
|
Name Changed On |
: 09.11.2005 (Commercial Registry Gazette
Date/No: 14.11.2005/6430) |
|
|
|
|
Previous
Registered Capital |
: YTL 3.000.000 |
|
|
|
|
Regist. Capital
Changed on |
: 11.04.2003 (Commercial Registry Gazette
Date/No: 16.04.2003/5779) |
|
|
|
|
Previous
Registered Capital |
: YTL 9.900.000 |
|
|
|
|
Regist. Capital
Changed on |
: 12.12.2003 (Commercial Registry Gazette Date/No:
17.12.2003/5948) |
|
|
|
|
Previous Address |
: Kore Sehitleri Cad. No:40 Zincirlikuyu-
Istanbul |
|
|
|
|
Address Changed On |
: 03.11.2000 (Commercial Registry Gazette
Date/No: 20.11.2000/5178) |
|
|
|
|
Other Historical Events |
: According to the decision taken at the
General Assembly Meeting dated 16.06.2005, the registered capital was
increased from YTL 31.710.000 to YTL 31.716.099,19. The subject took over and merged with “Koz
Ilac San. ve Tic.A.S.” on 29.06.2005 (Commercial Registry Gazette Date/No:
04.07.2005/6338). |
|
OWNERSHIP / MANAGEMENT
|
SHAREHOLDERS |
: |
Novartis Pharma A.G. (Switzerland) Others |
|
|
BOARD OF DIRECTORS |
: |
John Richard Saynor Markus Pinter Jean Claude Dubos Josef Michael
Solledor |
Chairman Vice-Chairman Member Member |
OPERATIONS
|
BUSINESS
ACTIVITIES |
: |
Manufacture and trade of medicine |
||
|
SECTOR |
: |
Chemicals |
||
|
NUMBER OF
EMPLOYEES |
: |
653 |
||
|
NET SALES |
: |
15.058.000 25.060.000 40.933.000 89.053.000 153.638.000 196.523.000 297.262.000 228.570.000 181.772.000 USD 51.408.827 +
YTL 173.007.222 |
(1998) (1999) (2000) (2001) (2002) (2003) (2004) (2005) (2006) (2007) |
|
|
IMPORT COUNTRIES |
: |
Europe, India, China |
||
|
MERCHANDISE
IMPORTED |
: |
Medicine and raw materials for medicine |
||
|
EXPORT VALUE |
: |
YTL 38.621.000 USD 35.485.945 USD 45.558.000 USD 94.002.000 USD 63.942.000 USD 60.931.000 USD 51.408.827 |
(2001) (2002) (2004) (2005) (2006) (2007) |
|
|
EXPORT COUNTRIES |
: |
Australia, Austria, Belgium, Brazil,
Canada, Czech Republic, Denmark, Germany, Hong Kong, Hungary, India,
Indonesia, Istanbul Leather Free Zone, Italy, Japan, Lithuania, Macedonia,
Netherlands, Portugal, Spain, Switzerland…. |
||
|
MERCHANDISE
EXPORTED |
: |
Medicine |
||
|
PREMISES |
: |
Registered
Head Office & Factory: Tavsantepe Mevkii Aydinli Yolu Sehit Musteba Sok.
No: 1 Pendik- Istanbul (owned by the subject company) Administrative
Office & 2nd Factory: Gebze Plastikciler Organize Sanayi
Bolgesi Ataturk Bulvari 9. Cad. No: 1 Gebze- Kocaeli (owned) Branch
Office: Istanbul Deri ve Endustri Serbest Bolgesi (Free Zone) Kopuzlar Cad. No:4 Kat.2 Tuzla- Istanbul |
|
TREND OF
BUSINESS |
: |
There was decline at sales volume in
nominal terms in 2005 and 2006. |
|
SIZE OF BUSINESS |
: |
Giant
|
FINANCE
|
MAIN DEALING BANKERS |
: |
Turk Ekonomi Bankasi Kadikoy branch in Istanbul Yapi Kredi Bankasi
Harbiye branch in Istanbul |
|||
|
PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
|||
|
KEY FINANCIAL ELEMENTS |
: |
Net Sales Profit (Loss) Before Tax Stockholders’ Equity Total Assets |
2004 (YTL) 297,262,375 28,237,720 108,077,421 162,882,200 |
(2005) (YTL) 228,570,008 5,416,490 111,264,099 206,824,046 |
(2006) (YTL) 181,771,605 -2,542,211 108,721,889 206,214,644 |
COMMENT ON FINANCIAL POSITION
|
GENERAL
FINANCIAL POSITION |
|
The subject was in loss but capitalization was good in 2006. We are informed
that the firm had loss in 2007 as well. |
|
|
Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
|
(1998) |
54.30 % |
0.2657 |
0.2967 |
0.4410 |
|
(1999) |
62.90 % |
0.4278 |
0.4518 |
0.6843 |
|
(2000) |
32.70 % |
0.6251 |
0.5774 |
0.9480 |
|
(2001) |
88.60 % |
1.1991 |
1.0714 |
1.7300 |
|
(2002) |
30.80 % |
1.5168 |
1.3741 |
2.2001 |
|
(2003) |
13.90 % |
1.5302 |
1.7141 |
2.4982 |
|
(2004) |
13.84 % |
1.4266 |
1.7666 |
2.6001 |
|
(2005) |
2.66 % |
1.3499 |
1.6882 |
2.4623 |
|
(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
|
(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
|
(1.1.-30.09.2008) |
11.48 % |
1.2146 |
1.8490 |
2.3755 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.95 |
|
UK Pound |
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.63.65 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)