MIRA INFORM REPORT
|
Report Date : |
13.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
LABORATORIOS STEIN S.A. |
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Registered Office : |
1 Km Sobre Carretera Interamericana Cártago Del Cruce De Taras, Cártago |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
26.09.1975 |
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Com. Reg. No.: |
Volume 0155, Folio 281, Entry 00251 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Preparation and distribution of pharmaceutical
products for human consumption |
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 |
|
Maximum Credit Limit : |
US$615,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Regular |
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Costra Rica |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
IDENTIFICATION
|
CORRECT
COMPANY NAME |
:
|
LABORATORIOS STEIN S.A. |
|
TRADE
NAME |
:
|
"LABORATORIOS
STEIN" |
|
TAXPAYER
REGISTRATION |
:
|
CJ 31010289601 |
|
MAIN
ADDRESS |
:
|
1 Km sobre Carretera Interamericana
Cártago del Cruce de Taras |
|
CITY |
:
|
Cártago |
|
DEPARTMENT/STATE |
:
|
Cártago |
|
COUNTRY |
:
|
COSTA RICA |
|
TELEPHONE |
:
|
25506565 |
|
FAX |
:
|
25506536 |
|
WEB
SITE |
:
|
SUMMARY
FOUNDATION :
1975
LAST CAPITAL :
C/.2,282,000,000.= Colones
SHAREHOLDERS '
EQUITY :
C/.3,437,030,418.= Colones (As of 31.12.2005)
SALES :
16,472,495,499.00
EMPLOYEES :
417
PAYMENTS : Usually to terms/good
CHIEF EXECUTIVE :
WASERSTEIN RUBINSTEIN, MICHEL
DISPOSITION :
TOTAL (Full information and figures).
LEGAL BACKGROUNDS
|
LEGAL
ESTATUS |
:
|
Joint-Stock Company |
|
DATE
OF INCORPORATION |
:
|
26SEP1975 |
|
START
OF OPERATIONS |
:
|
N/A |
|
REGISTERED
IN |
:
|
Cartago |
|
NOTARY
OFFICE |
:
|
N/A |
|
DURATION |
:
|
100 years |
|
REGISTRATION |
:
|
Volume 0155, Folio 281,
Entry 00251 |
|
INITIAL
CAPITAL |
:
|
C/.100,000.= Colones |
|
CURRENT
PAID-IN CAPITAL |
:
|
C/.2,282,000,000.= Colones |
|
LAST
CAPITAL INCREASE |
:
|
N/A |
|
SHAREHOLDERS'
EQUITY |
:
|
C/.3,437,030,418.= Colones
(As of 31.12.2005) |
|
TYPE
OF SHARES |
:
|
Registered |
|
LISTED
AT STOCK EXCHANGE |
:
|
No |
|
SHARE
VALUE |
:
|
N/A |
|
CURRENT
EXCHANGE RATE |
:
|
C/. 499.98 per US$1.= Dollar |
|
MEMBERSHIP |
:
|
N/A |
DIRECTORS / EXECUTIVES / SHAREHOLDERS
|
FULL
NAMES / COMPANY NAME |
TITLE |
OWNERSHIP
% |
|
WASERSTEIN GOLDWASSER,
KOUPIEKT ISAAC |
President |
34% |
|
RUBINSTEIN WINNER DE
WASERSTEIN, JEANNETTE |
Secretary |
33% |
|
WASERSTEIN RUBINSTEIN,
MICHEL |
General Manager |
33% |
|
MORENO, JUAN CARLOS |
Production Manager |
|
|
CALDERON AGUILAR, GERALD |
Finance Manager |
|
WHO IS WHO?
WASERSTEIN
GOLDWASSER, KOUPIEKT ISAAC
NATIONALITY : Costa Rican
BORN : In 1951
DOC OF IDENT. : CI 1035279
PROFESSION : Doctor
CIVIL STATUS : Married to Jeannete Rubistein Winner
BACKGROUND INFORMATION .-
Individual of Jewish origin.
RUBINSTEIN
WINNER DE WASERSTEIN, JEANNETTE
CIVIL STATUS : Married to Koupier Isaac Waserstein Goldwasser
RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY
SHAREHOLDER
BUSINESS
MAIN
ACTIVITY .-
Preparation and distribution of pharmaceutical
products for human consumption.
Products sold: Drugs, creams, shampoos, among
others.
Brands sold: "ACTIVITON",
"CALCIONIL"
IMPORT : Yes
Raw
material from India, China, Switzerland, United Kingdom, Belgium, USA.
EXPORT : Yes
Pharmaceutical
products and toiletries, to Ecuador, Dominican Republic,
Guatemala,
Honduras, El Salvador, Panama.
|
%
CASH SALES/METHOD |
:
|
N/A |
|
%
CREDIT SALES/TERMS |
:
|
100% (Terms up to 60 days) |
|
%
FOREIGN SALES (COUNTRIES) |
:
|
40% |
|
%
DOMESTIC PURCHASES |
:
|
35% |
|
%
FOREIGN PURCHASES |
:
|
N/A |
|
SELLING
TERRITORY |
:
|
Domestic and international
market |
|
EMPLOYEES |
:
|
417 |
LOCATION
.-
|
Premises |
:
|
Own |
|
Monthly
Amount |
:
|
N/A |
|
Time
Occupied |
:
|
N/A |
|
Area |
:
|
13,000 sqm. |
|
Floors |
:
|
2 |
Remarks and other Premises .-
Head office:
1 Km sobre Carretera Interamericana Cártago del Cruce de Taras, Cártago,
Cártago, Costa Rica. Tel: (506) 25506565
Subject occupies a built area of 10,000 m2. Plant
of 5,000 m2.
No other operational sites were found.
COMMENTS .-
Subject works in three 8-hour work shifts.
It operates at 100% of its installed capacity.
Production:
90% solids : tablets and capsules.
10% semisolids: syrups, powders, suppositories,
ovules.
Subject has been granted the ISO 9000
Certification.
Main customers:
- Caja Costarricense de Seguro Social (Costa Rican
Social Security Institute)
- Caja Panameña de Seguro Social (Panamanian Social
Security Agency)
- Laboratorio Suizo Difare
- Tecnofarma.
- Grupo Condefa S.A.
- Droguería Americana S.A.
- Astor.
- Droguerçia Comercial Salvadoreña.
FINANCIAL INFORMATION
|
Interviewee(s) |
:
|
Gerald Caladerón |
|
Position(s) |
:
|
Finance Manager |
|
Cooperation |
:
|
TOTAL (Full information and
figures). |
|
Information
Provided |
:
|
The interviewed person kindly
verified general information and sent
key figures of the Balance Sheet of this company at 31/12/2010,
year-end, expressed in Colones. Financial data of this company of year 2009
was not publicly accessible. As reference we include in this report figures
of this company of year 2008. We also
resorted to research on third-party sources, and our own files, whereby we
collected additional information contained in this report. |
BALANCE
SHEET
|
BALANCE SHEET DATE |
31DEC2010 |
31DEC2008 |
|
PERIOD |
12
months |
12
months |
|
EXCHANGE RATE PER US$ |
512.97 |
555.47 |
|
CURRENCY |
Colones |
Colones |
|
ASSETS |
|
|
|
TOTAL CURRENT |
12,059,521,809.00 |
11,209,292,350.00 |
|
FIXED |
2,986,188,742.00 |
2,360,564,596.00 |
|
TOTAL ASSETS |
15,045,710,551.00 |
13,569,856,946.00 |
|
LIABILITIES |
|
|
|
TOTAL CURRENT |
9,520,430,365.00 |
6,859,354,749.00 |
|
LONG TERM |
1,240,771,905.00 |
1,926,314,521.00 |
|
SHAREHOLDERS' EQUITY |
|
|
|
TOTAL
EQUITY |
4,284,508,281.00 |
4,784,187,676.00 |
|
TOTAL
LIABILITIES |
15,045,710,551.00 |
13,569,856,946.00 |
|
SALES |
16,472,495,499.00 |
15,080,854,565.00 |
|
PROFIT(LOSS) |
166,672,362.00 |
514,709,546.00 |
RATIO
|
LIQUIDITY RATIO |
1.27 |
(Current Assets/Current
Liabilities) |
|
DEBT-TO-EQUITY RATIO |
45.00 |
(Shareholders's
equity/Current Liabilities %) |
|
PROFITABILITY MARGIN |
1.01 |
(Profits/Sales %) |
|
WORKING CAPITAL |
2,539,091,444.00 |
(Current Assets - Current
Liabilities) |
FINANCIAL
SITUATION : LIGHTLY FAIR
According to the latest financial statements
submitted (31/12/2010) we estimate the Company's financial situation as Fair,
on the grounds that the liquidity ratio is slightly acceptable. Its Working
Capital maintains a slightly satisfactory margin. Stockholders' equity moderately covers its liabilities. Its
results are slightly satisfactory.
INSURANCE
.-
|
Company |
Againts |
Amount |
Expiration |
|
INC Instituto Nacional de
Seguros |
Fully comprehensive |
N/A |
N/A |
PAYMENTS RECORD
TRADE REFERENCES .-
|
Supplier |
Country |
Tel. |
Line of Credit |
Monthly Average |
Terms(days) |
Perfomance? |
Time |
Products/Services |
|
Corrugados del Guarco S.A. |
COSTA RICA |
506 25738606 |
Open |
C/. 500,000.= |
invoice 30 days |
Prompt |
2001 |
Corrugated cardboard boxes. |
|
DHL Costa Rica |
COSTA RICA |
506 22096000 |
Open |
C/. 2,500,000.= |
invoice 30 days |
Prompt |
1987 |
Courier service |
NOTE: Other Suppliers did not
provide information or could not be consulted.
|
Supplier |
Country |
Tel. |
|
Industrias Hergar Ltda. |
COSTA RICA |
506 22723559 |
|
Traducciones Tlacuil |
COSTA RICA |
505 22442387 |
|
Maimba SAIC |
ARGENTINA |
5411 47803262 |
|
Envases Comerciales SA |
COSTA RICA |
N/A |
|
Moravia SA |
COSTA RICA |
N/A |
|
Americhem |
U.S.A. |
N/A |
|
BAselux |
SWITZERLAND |
N/A |
|
Roberto Lopatin &
Asociados |
ARGENTINA |
5411 47803262 |
|
Aphifarma |
SWITZERLAND |
N/A |
|
Cipla |
INDIA |
N/A |
|
Envasa S.A. |
COSTA RICA |
506 22393944 |
CREDIT HISTORY .-
Local obligations are met promptly. Thus the
company enjoys a good credit rating. Established customer. No protest notes
and/or defaulted payment traced.
LAWSUITS .-
There are not reports of any
delinquency, restraints, lawsuits, summons, bankruptcy, auctions, disabled
accounts, etc. against this
company.
BANKING INFORMATION
BANKERS
.-
|
Bank |
Contact |
Telephone |
Account # |
DC (S/.) |
FC (US$) |
|
BANCO NACIONAL DE COSTA RICA |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BANCO BCT |
N/A |
N/A |
N/A |
N/A |
N/A |
|
BANCO HSBC |
N/A |
N/A |
N/A |
N/A |
N/A |
|
CITIBANK |
N/A |
N/A |
N/A |
N/A |
N/A |
Subject carries out its financial operations
through the above-mentioned entities which did not provide information on
handling of its accounts, under the bank secrecy act.
GENERAL INFORMATION
REPUTATION
.-
NOTHING
AGAINST COMPANY
CREDIT OPINION
Consulted
Credit Amount : Maximum
We estimate this company is eligible to be granted
a maximum credit amount of US$615,000.= Dollars.
NOTE: The Opinion given is confidential referential
and with out liability
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.22 |
|
|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
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 |
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.