MIRA INFORM REPORT
|
Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
AGRO REGIONAL S.R.L. |
|
|
|
|
Registered Office : |
Doctor Enrique Pouey 496, Las Piedras,, Canelones State |
|
|
|
|
Country : |
Uruguay |
|
|
|
|
Financials (as on) : |
31.07.2010 |
|
|
|
|
Date of Incorporation : |
19.05.1978 |
|
|
|
|
Com. Reg. No.: |
N' 77, Page 259-262 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Import and Trading of
chemicals for agribusiness and post-harvest products (chemicals) retread of
special products. Wholesaler |
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$.80,000 Dollars |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Slow but Correct |
|
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 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Uruguay |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
IDENTIFICATION
|
CORRECT
COMPANY NAME |
:
|
AGRO REGIONAL S.R.L. |
|
TRADE
NAME |
:
|
"AGRO REGIONAL" |
|
TAXPAYER
REGISTRATION |
:
|
RUT 08-003506001-6 |
|
MAIN
ADDRESS |
:
|
Doctor Enrique Pouey 496, Las Piedras, |
|
POSTAL
CODE |
:
|
N/A |
|
CITY |
:
|
Canelones |
|
DEPARTMENT/STATE |
:
|
Canelones |
|
COUNTRY |
:
|
URUGUAY |
|
TELEPHONE |
:
|
3644230 |
|
FAX |
:
|
3645400 |
|
WEB
SITE |
:
|
N/A |
SUMMARY
FOUNDATION : 1978
LAST CAPITAL :
Ps$8,800,004.= Pesos
SHAREHOLDERS ' EQUITY : Ps$25,830,830.= Pesos
(31.07.2007)
SALES : 18,818,295.00
EMPLOYEES : 1
PAYMENTS : Delays but within sector norms
CHIEF EXECUTIVE : MORENO FERNANDEZ, DANIEL RICARDO
DISPOSITION : TOTAL (Full information and figures).
LEGAL
BACKGROUNDS
|
LEGAL
ESTATUS |
:
|
Limited Liability Company |
|
DATE
OF INCORPORATION |
:
|
19MAY1978 |
|
START
OF OPERATIONS |
:
|
N/A |
|
REGISTERED
IN |
:
|
Canelones |
|
NOTARY
OFFICE |
:
|
Hugo Luis Alvez Gutiérrez |
|
DURATION |
:
|
Indefinite |
|
REGISTRATION |
:
|
N' 77, Page 259-262 |
|
INITIAL CAPITAL |
:
|
N/A |
|
CURRENT PAID-IN CAPITAL |
:
|
Ps$8,800,004.= Pesos |
|
LAST CAPITAL INCREASE |
:
|
18/03/2009 (capitalization
of the company) |
|
SHAREHOLDERS' EQUITY |
:
|
Ps$25,830,830.= Pesos
(31.07.2007) |
|
TYPE OF SHARES |
:
|
Registered |
|
LISTED AT STOCK EXCHANGE |
:
|
No |
|
SHARE VALUE |
:
|
N/A |
|
CURRENT
EXCHANGE RATE |
:
|
Ps$19.05 per US$1.00 |
|
MEMBERSHIP |
:
|
N/A |
DIRECTORS
/ EXECUTIVES / SHAREHOLDERS
|
FULL
NAMES / COMPANY NAME |
TITLE |
OWNERSHIP
% |
|
MORENO FERNANDEZ, DANIEL
RICARDO |
General Manager |
50% |
|
MORENO FERNANDEZ, GUSTAVO |
Member |
50% |
|
BLANCO, JACKELINE |
General Accountant |
|
WHO
IS WHO?
MORENO
FERNANDEZ, DANIEL RICARDO
NATIONALITY : Uruguayan
BORN :
26FEB1956
DOC OF IDENT. : CI 1.378.728
PROFESSION : Businessman
BACKGROUND INFORMATION .-
Cell Phone (598) 99611847.
He has 35 years of experience in the agrochemicals
market
SUPERINTENDENCY OF FINANCE SERVICES: According to
its latest report dated May 31, 2011, he was reported the following bank
transactions:
Ps$
US$
TOTAL PROVISIONS 995.75 0.00
CONTINGENCY 191,151.00 0.00
GUARANTEES
0.00 1,092,000.00
Bank Debt structure is detailed as follows:
BANCO SANTANDER
Rate: 1C
Ps$
US$
TOTAL PROVISIONS 995.75 0.00
CONTINGENCIES 191,151.00 0.00
BANCO BILBAO VIZCAYA ARGENTARIA URUGUAY S.A. Rate 1C
Ps$ US$
GUARANTEES
0.00
1,092,000.00
Rate 1C: High possibility to meet in due time and condition.
Associated
as per our database to :
|
Company |
Position |
Tax.
Reg. |
Country |
|
FINONSUR S.A. |
President |
21-507110001-3 |
URUGUAY |
MORENO
FERNANDEZ, GUSTAVO
NATIONALITY : Uruguayan
BORN : 20FEB1985
DOC OF IDENT. : CI 1.378.730
BACKGROUND INFORMATION .-
He lives in Sao Paulo - Brazil.
RELATED
COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
|
COMPANY NAME |
COUNTRY |
AX. REG. |
RELATION |
|
COLORFLEX S.A. |
URUGUAY |
21-299848001-7 |
Related |
|
DIKEBELL S.A. |
URUGUAY |
21-442633001-6 |
Related |
|
FINONSUR S.A. |
URUGUAY |
21-507110001-3 |
Related |
BUSINESS
MAIN
ACTIVITY .-
Import and trading of chemicals for agribusiness
and post-harvest products (chemicals) retread of special products. Wholesaler.
Products: Fertilizers, insecticides, pesticides,
manure, etc.
Trademarks: MILAGRO and Italian fertilizers
It is a distributor of BAYER.
IMPORT : Yes
Italy,
Chile, Argentina, Brazil, Poland
Annual Imports in US$ (CIF) :
Year
Monto
2011 244,788.31
2010 422,159.43
2009 600,730.18
2008 1,127,028.30
2007 1,349,578.63
2006 1,161,844.44
2005 1,772,987.36
2004 2,328,075.71
2003 1,986,223.82
2002 1,417,499.13
2001 1,273,417.44
EXPORT : No
|
%
CASH SALES/METHOD |
:
|
20% |
|
%
CREDIT SALES/TERMS |
:
|
80% (30, 45, 60, 90 days) * |
|
% FOREIGN SALES (COUNTRIES) |
:
|
N/A |
|
% DOMESTIC PURCHASES |
:
|
50% |
|
% FOREIGN PURCHASES |
:
|
50% |
|
SELLING
TERRITORY |
:
|
Domestic market - 100% |
|
EMPLOYEES |
:
|
1 |
LOCATION
.-
|
Premises |
:
|
Own |
|
Monthly
Amount |
:
|
N/A |
|
Time
Occupied |
:
|
N/A |
|
Area |
:
|
300 sqm. |
|
Floors |
:
|
1 |
Remarks and other Premises .-
Head offices operate at the above address.
Facilities are shared with the sister company
- FINONSUR S.A.
No other premises were found.
COMMENTS .-
Until 2010, they exported for US$3,280.= Dollars
(*) Credits
are granted depending on the customer.
Sales are fully targeted at the sister company
- FINONSUR S.A. (imported products).
FINANCIAL
INFORMATION
|
Interviewee(s) |
:
|
Jackeline Blanco |
|
Position(s) |
:
|
General Accountant |
|
Cooperation |
:
|
TOTAL (Full information and
figures). |
|
Information
Provided |
:
|
We talked to Jackeline
Blanco (General Accountant) who kindly confirmed and updated operating and
commercial information of the Company.
With regards to the financials, she provided main accounts of the
latest available Balance Sheet as of 31/07/2010, expressed in Pesos. At the
same time, we consulted third-party sources to complete this report. |
BALANCE
SHEET
|
BALANCE SHEET DATE |
31JUL2010 |
31JUL2009 |
31JUL2008 |
31JUL2007 |
|
PERIOD |
12
months |
12
months |
12
months |
12
months |
|
EXCHANGE RATE PER US$ |
20.95 |
23.25 |
23.25 |
24.35 |
|
CURRENCY |
Pesos |
Pesos |
Pesos |
Pesos |
|
ASSETS |
|
|
|
|
|
CASH/BANKS |
|
336,300.00 |
|
|
|
RECEIVABLES |
|
30,195,075.00 |
|
|
|
INVENTORY |
|
1,123,936.00 |
|
|
|
TOTAL CURRENT |
32,506,567.00 |
31,655,311.00 |
30,671,697.00 |
32,796,894.00 |
|
FIXED |
2,820.00 |
13,761.00 |
|
|
|
OTHERS |
|
|
25,400.00 |
45,334.00 |
|
TOTAL ASSETS |
32,509,387.00 |
31,669,072.00 |
30,697,097.00 |
32,842,228.00 |
|
LIABILITIES |
|
|
|
|
|
BANK/SUPPLIERS |
|
1,257,025.00 |
|
|
|
OTHERS |
|
1,497,719.00 |
|
|
|
TOTAL CURRENT |
5,636,327.00 |
2,754,744.00 |
5,459,581.00 |
7,011,398.00 |
|
SHAREHOLDERS' EQUITY |
|
|
|
|
|
CAPITAL |
|
8,800,004.00 |
|
|
|
RESERVES |
|
162,079.00 |
|
|
|
PROFIT(LOSS) |
|
3,677,272.00 |
|
|
|
OTHERS |
|
16,274,973.00 |
|
|
|
TOTAL
EQUITY |
26,873,060.00 |
28,914,328.00 |
25,237,516.00 |
25,830,830.00 |
|
TOTAL
LIABILITIES |
32,509,387.00 |
31,669,072.00 |
30,697,097.00 |
32,842,228.00 |
|
SALES |
18,818,295.00 |
43,289,499.00 |
30,624,803.00 |
58,025,964.00 |
|
PROFIT(LOSS) |
1,971,768.00 |
3,677,272.00 |
3,101,818.00 |
3,279,641.00 |
RATIO
|
LIQUIDITY RATIO |
5.77 |
(Current Assets/Current
Liabilities) |
|
DEBT-TO-EQUITY RATIO |
476.78 |
(Shareholders's
equity/Current Liabilities %) |
|
PROFITABILITY MARGIN |
10.48 |
(Profits/Sales %) |
|
WORKING CAPITAL |
26,870,240.00 |
(Current Assets - Current
Liabilities) |
FINANCIAL
SITUATION : LIGHTLY FAIR
Financial standing as of 31/07/2010 is deemed to be
Slightly Fair as liquidity exceeds the average ratio. Working capital is positive and allows
payments to be made in a good order. Debt-to-equity ratio is acceptable.
However, sales decreased by 43.47% in comparison with the previous period.
Suppliers reported favorably on its payment record.
On the other side, according to the latest bulletin
dated June 2011, the Superintendency of Financial Services rated this Company
2B, debtors capable to pay but with
potential problems.
PROPERTY
OF THE COMPANY .-
They include:
One vehicle
Computer equipment
etc.
INSURANCE
.-
|
Company |
Againts |
Amount |
Expiration |
|
BANCO DE SEGUROS DEL ESTADO |
All risk |
US$1,000,000.= |
US$1,000,000.= |
PAYMENTS
RECORD
TRADE REFERENCES .-
|
Supplier |
Country |
Tel. |
Line of Credit |
Monthly Average |
Terms(days) |
Perfomance? |
Time |
Products/Services |
|
Aldo Magri |
URUGUAY |
(5982) 5220301 |
Open |
No specified |
60 days |
Prompt |
20 years |
Pesticides and fertilizers |
|
Eugenio Freire Ag. de Aduana |
URUGUAY |
(5982) 9152257 |
No specified |
No specified |
Ch.30 days |
Prompt |
No more |
Customs services |
|
Rutilan S.A. |
URUGUAY |
(598.2) 2005899 |
Open |
US$ 20,000.= |
60 days |
Prompt |
2000 |
Agrochemicals |
|
Sales y Derivados del Cobre
S.A. |
PERU |
(511) 5480205 |
Open |
No specified |
60 days |
Prompt |
20 years |
Pesticides and fertilizers |
NOTE: Other Suppliers did not
provide information or could not be consulted.
|
Supplier |
Country |
Tel. |
|
Agricem |
AUSTRALIA |
N/A |
|
Drexel |
U.S.A. |
N/A |
|
Helm |
GERMANY |
N/A |
|
Cultivar S.A. |
URUGUAY |
(5982) 2111010 |
|
Detlef Von Apeen MBH |
GERMANY |
N/A |
|
Milagro |
ARGENTINA |
N/A |
|
Nitron Int. |
U.S.A. |
N/A |
CREDIT RISK CENTRAL .-
No bad were found in databases we could access to.
CREDIT HISTORY .-
Previous reports show a good credit historical
record.
LAWSUITS .-
As of report date no legal
actions or claims have been filed against this Company.
BANKING
INFORMATION
BANKERS
.-
|
Bank |
Contact |
Telephone |
Account # |
DC (S/.) |
FC (US$) |
|
CREDIT URUGUAY BANCO |
N/A |
5982 099607073 |
N/A |
N/A |
N/A |
|
BBVA |
N/A |
N/A |
N/A |
N/A |
N/A |
The Company is a client of the above banks. Further
information was not given under confidentiality.
GENERAL
INFORMATION
REPUTATION
.-
NOTHING
AGAINST COMPANY
CREDIT
OPINION
Requested
Credit : MAXIMUM
CREDIT
Suggested
Credit : US$.80,000.=
Dollars
NOTE: The Opinion given is confidential referential
and with out liability
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.61 |
|
UK Pound |
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.