MIRA INFORM REPORT

 

 

Report Date :

25.02.2011

 

IDENTIFICATION DETAILS

 

Name :

BIOFARMA ILAC SANAYI VE TICARET A.S.

 

 

Formerly Known As :

Biofarma Ilac Sanayi Ltd. Sti.

 

 

Registered Office :

Akpinar Mah.Fatih Cad. No:17 Samandira, Kartal Istanbul

 

 

Country :

Turkey

 

 

Date of Incorporation :

07.01.1953

 

 

Com. Reg. No.:

476p38

 

 

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

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Turkey

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

COMPANY IDENTIFICATION

 

NAME

:

BIOFARMA ILAC SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Akpinar Mah.Fatih Cad. No:17 Samandira, Kartal Istanbul / Turkey

REMARKS ON HEAD OFFICE ADDRESS

:

The door number was changed from “2” to “17” by the Municipality.

PHONE NUMBER

:

90-216-398 10 63

 

FAX NUMBER

:

90-216-398 10 20

90-216-398 78 35

 

WEB-ADDRESS

:

www.biofarma.com.tr

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

:

The paid-in capital is declared by the subject. There is no certification for the paid-in capital..

 

 

TAX OFFICE

:

Buyuk Mukellefler

TAX NO

:

1760041077

REGISTRATION NUMBER

:

47638

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

07.01.1953

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   82.000.000

PAID-IN CAPITAL

:

TL   82.000.000

HISTORY

:

Previous Legal Type

:

Limited Company

Changed On

:

31.07.1997 (Commercial Gazette Date /Number 06.08.1997/ 4348)

Previous Name

:

Biofarma Ilac Sanayi Ltd. Sti.

Changed On

:

31.07.1997 (Commercial Gazette Date /Number 06.08.1997/ 4348)

Previous Registered Capital

:

TL 25.000.000

Changed On

:

19.07.2005 (Commercial Gazette Date /Number 22.07.2005/ 6352)

Previous Registered Capital

:

TL 41.000.000

Changed On

:

18.05.2007 (Commercial Gazette Date /Number 24.05.2007/ 6815)

Merger

:

The firm took over and merged with “Biofarm Ilac Sanayi ve Ticaret A.S".

Changed On

:

18.05.2007 (Commercial Gazette Date /Number 24.05.2007/ 6815)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Isanne S.a.r.l.

99,90 %

Others

 

 

 

REMARKS ON SHAREHOLDERS

:

The main shareholder “Isanne S.a.r.l.” is a foreign company.

BOARD OF DIRECTORS

:

Alexander Mayr

Chairman

Sunil Kumar Nair

Vice-Chairman

Yuval Kadim

Member

Colin Douglas Clark

Member

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of medicine. 

 

NACE CODE

:

DF. 24.42

 

SECTOR

:

Chemicals

 

TRADEMARKS OWNED

:

Allarin

Caldicine

Canolen

Fluzole

Fulsac

Gelocaps

Katarin

Mukoral

Relaxol

Ressital

Synergon

Uterjin

 

NUMBER OF EMPLOYEES

:

808

 

NET SALES

:

59.632 TL Thousand

(2003) 

72.445 TL Thousand

(2004) 

94.628 TL Thousand

(2005) 

114.581 TL Thousand

(2006) 

122.567 TL Thousand

(2007) 

173.811 TL Thousand

(2008) 

135.405 TL Thousand

(2009) 

 

 

IMPORT COUNTRIES

:

Netherlands

China

India

 

MERCHANDISE IMPORTED

:

Raw materials

 

EXPORT VALUE

:

154 USD

(2003)

841 USD

(2004)

237 USD

(2005)

2.525.436 TL

(2006)

3.280.000 USD

(2007)

4.097.000 USD

(2008)

3.198.000 USD

(2009)

EXPORT COUNTRIES

:

Croatia

Kazakhstan

Malta

Northern Cyprus Turkish Republic

Romania

Serbia

Spain

 

MERCHANDISE  EXPORTED

:

Medicine

 

HEAD OFFICE ADDRESS

:

Akpinar Mah.Fatih Cad. No:17 Samandira, Kartal Istanbul / Turkey

 

BRANCHES

:

Head Office/Factory  :  Akpinar Mah.Fatih Cad. No:17 Samandira, Kartal Istanbul/Turkey (15.000 sqm)

 

 

TREND OF BUSINESS

:

There was a decline at business volume in nominal terms in 2009.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Kartal Branch

Anadolubank Anadolu Kurumsal Branch

Fortis Bank Anadolu Kurumsal Branch

Garanti Bankasi Sultanbeyli Branch

HSBC Bank Altunizade Branch

T. Is Bankasi Kartal Branch

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2008) TL

 

 

 

 

Net Sales

173.811.342

 

 

 

 

Profit (Loss) Before Tax

-172.806

 

 

 

 

Stockholders' Equity

96.708.641

 

 

 

 

Total Assets

308.674.535

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Fair As of 31.12.2008

Profitability

Net Loss  in 2008

 

General Financial Position

Unsatisfactory

Remarks on General Financial Position

Recent financial figures are not available the firm declines to provide fresh financial data.

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 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

 ( 2008 )

8,11 %

1,2858

1,8876

2,3708

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 01.01-31.10.2010)

7,80 %

1,5105

2,0088

2,3362

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.54

Euro

1

Rs.62.39

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.