MIRA INFORM REPORT

 

 

Report Date :           

25.07.2011

 

IDENTIFICATION DETAILS

 

Name :

CRYSTAL PHARMA, SA

 

 

Registered Office :

Parque Tecnologico Arroyadas, 105, Boecillo, 47151

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2009

 

 

Year of Establishment :

1996

 

 

Com. Reg. No.:

A40147753

 

 

Legal Form :

Public Subsidiary

 

 

Line of Business :

Manufacture of basic pharmaceutical products

 

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

 

Status :

Satisfactory

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Spain

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Company name & address 

 

Crystal Pharma, Sa

Parque Tecnologico Arroyadas, 105

Boecillo, 47151

Spain

Tel:       +(34) 983548072

 

 

Synthesis

 

Employees:                   100

Company Type:            Public Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:            Ragactives Sl

Incorporation Date:         1996

Auditor:                        Ernst Young Sl 

Financials in:                 USD (Millions)

 

 

Fiscal Year End:            20-Oct-2010

Reporting Currency:       Euro

Annual Sales:                30.6  1

Net Income:                   2.9

Total Assets:                 38.0

 

 

Business Description     

 

Manufacture of basic pharmaceutical products

 

Industry 

Industry Biotechnology and Drugs

ANZSIC 2006:    1841 - Human Pharmaceutical and Medicinal Product Manufacturing

NACE 2002:      2441 - Manufacture of basic pharmaceutical products

NAICS 2002:     32541 - Pharmaceutical and Medicine Manufacturing

UK SIC 2003:    2441 - Manufacture of basic pharmaceutical products

US SIC 1987:    2833 - Medicinal Chemicals and Botanical Products

 

Key Executives   

                                                            

 

Name

Title

Group Sl Gadea Pharmaceutical

Single Partner

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7425482 
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7158965

 

 

Corporate Overview

 

Location

Parque Tecnologico Arroyadas, 105

Boecillo, 47151

Spain

Tel:       +(34) 983548072

 

Sales EUR(mil):             22.7

Assets EUR(mil):           27.2

Employees:                   100

Fiscal Year End:            20-Oct-2010

 

Industry:                        Biotechnology and Drugs

           

Incorporation Date:         1996

Company Type:             Public Subsidiary

Quoted Status:              Not Quoted

Registered No.(ESP):     A40147753

Single Partner:               Group Sl Gadea Pharmaceutical

 

 

Contents

 

·         Industry Codes

·         Business Description

·         Financial Data

·         Branch Offices

 

Industry Codes

ANZSIC 2006 Codes:

1841     -          Human Pharmaceutical and Medicinal Product Manufacturing

 

NACE 2002 Codes:

2441     -          Manufacture of basic pharmaceutical products

 

NAICS 2002 Codes:

32541   -          Pharmaceutical and Medicine Manufacturing

 

US SIC 1987:

2833     -          Medicinal Chemicals and Botanical Products

 

UK SIC 2003:

2441     -          Manufacture of basic pharmaceutical products

 

 

Business Description

Manufacture of basic pharmaceutical products

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

22.7

Net Income:

2.2

Assets:

27.2

Current Assets:

16.6

 

Fixed Assets:

10.6

 

Long Term Debt:

1.5

 

Total Liabilities:

27.2

 

Issued Capital:

2.0

 

Net Worth:

12.5

 

 

 

Date of Financial Data:

20-Oct-2010

 

1 Year Growth

15.6%

NA

NA

 

 

Branch Offices

 

Location 
Parq. Tecnológico Boecillo, S/N
Boecillo, 47151

 

Tel:  +(34) 983143621

Fax: +(34) 983548072

 

 

Key Corporate Relationships

Auditor:

Ernst Young Sl

Bank:

Banco Bilbao Vizcaya Argentaria, S.A.

 

Auditor:

Ernst Young Sl

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Crystal Pharma, Sa

Crystal Pharma, Sa 
Total Corporate Family Members: 2 

 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Ragactives Sl

Parent

 

 

 

 

 

 

Crystal Pharma, Sa

Subsidiary

Boecillo, Valladolid

Spain

Biotechnology and Drugs

30.6

100

 

 

 

Executives report

 

 

Name

Title

Function

 

Group Sl Gadea Pharmaceutical

 

Single Partner

Partner

 

 

 

Annual profit & Loss

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.719047

0.683679

0.730637

Consolidated

No

No

No

 

 

 

 

Charges

32.6

28.5

29.4

    Stock Reduction

-

0.6

0.2

    Supplies

19.5

14.7

17.7

        Goods Consumption

2.1

-

2.7

        Consumption of Raw Materials

16.2

13.8

13.9

        Miscellaneous External Expenditures

1.3

0.9

1.2

    Staff Costs

4.8

4.4

4.0

        Wages and Salaries

3.5

3.3

2.9

        Social Security Costs

1.2

1.1

1.0

    Depreciation

2.7

2.7

2.2

    Allowance for Trade Operations

0.0

-

-0.1

        Stock Provision Variation

-

-

-0.1

        Variation of Other Trade Provisions

0.0

-

-

    Other Operating Charges

4.2

4.4

4.5

        External Services

4.2

4.4

4.5

        Taxes

0.0

0.0

0.0

        Other Operating Expenses

0.0

0.0

-

Operating Benefits

3.9

3.0

2.8

    Financials and Similar Charges

0.4

0.9

0.9

        Due to Other Liabilities

0.4

0.9

0.9

    Exchange Losses

0.1

0.4

0.4

Profit From Ordinary Activities

3.5

1.7

2.2

    Losses From Assets and Securities Portfolio

0.0

0.0

0.0

    Extraordinary Expenses

-

-

0.0

Extraordinary Profit

0.4

0.1

0.1

Profit Before Taxes

4.0

1.8

2.2

    Corporation Tax

0.9

0.3

-0.4

Financial Year Result (Profit)

3.0

1.5

2.6

Income

35.6

29.9

32.0

    Net Total Sales

31.6

28.5

30.5

        Sales

31.3

28.5

30.3

        Rendering of Services

0.3

0.0

0.2

    Increase in Stocks

1.8

-

-

    Works Performed for Fixed Assets

0.8

0.5

0.5

    Miscellaneous Operating Income

0.9

0.8

0.2

        Auxiliary Income From Current Management

0.7

0.5

-

        Grants

0.3

0.4

0.2

    Income From Miscellaneous Interests

0.0

0.0

0.0

        Miscellaneous Interests

0.0

0.0

0.0

    Gains from Exchange Rate

-

-

0.7

Negative Financial Results

0.4

1.3

0.6

    Capital Grants Transferred to Profit and Loss

0.5

0.1

0.1

    Extraordinary Income

-

-

0.0

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

 

31-Dec-2009

31-Dec-2008

31-Dec-2007

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.696986

0.719399

0.683971

Consolidated

No

No

No

 

 

 

 

        Research and Development Costs

2.2

1.8

2.7

        Software

0.0

0.0

0.1

        Accumulated Depreciation

-

-

-1.2

    Total Intangible Fixed Assets

2.2

1.8

1.5

        Land and Construction

4.0

4.0

4.7

        Technical Installations and Machinery

6.8

8.4

15.8

        Other Installations, Tools, and Furniture

0.1

0.2

0.3

        Tangible Fixed Assets Under Construction

0.3

-

-

        Other Tangible Assets

0.5

0.7

1.2

        Accumulated Depreciation

-

-

-6.0

    Total Tangible Fixed Assets

11.9

13.3

16.0

        Investments in Group Companies

-

0.0

0.0

        Receivables from Group Companies

1.1

1.1

1.6

        Long-Term Securities Portfolio

0.0

0.0

0.0

        Other Receivables

-

-

0.5

        Long-Term Guarantees and Deposits

0.0

0.0

0.0

    Financial Investments

1.1

1.1

2.1

Total Fixed Assets

15.2

16.2

19.7

Deferred Expenses

-

-

0.0

        Raw Materials and Other Consumables

2.8

3.9

2.3

        Goods in Process

4.1

4.0

3.7

        Finished Products

4.9

2.9

4.2

        Payments on Account

-

0.0

0.0

    Total Stocks

11.9

10.9

10.2

        Trade Debtors

6.5

5.7

7.5

        Receivables, Group Companies

1.4

0.5

0.0

        Other Debtors

-

-

0.0

        Staff

0.1

0.0

-

        Public Bodies

2.2

1.0

0.7

    Total Debtors

10.1

7.3

8.2

    Cash

1.9

1.3

0.3

Total Current Assets

23.9

19.4

18.7

Total Assets

39.1

35.7

38.4

        Legal Reserve

0.6

0.6

0.6

        Miscellaneous Reserves

11.3

9.5

7.3

    Total Reserves

11.9

10.1

7.9

    Profit or Loss for the Financial Year

3.1

1.4

2.8

Total Equity

17.9

14.3

13.6

        Capital Grants

1.1

0.2

0.4

        Unrealised Exchange Gains

-

-

0.3

Total Deferred Income

1.1

0.2

0.7

        Loans and Other Liabilities

1.1

4.3

7.1

    Total Amounts Owed to Credit Institutions

1.1

4.3

7.1

        Other Creditors

0.2

0.2

1.0

        Long-Term Payables to Public Bodies

0.8

0.1

-

    Total Other Creditors

1.0

0.3

1.0

Total Long Term Liabilities

2.1

4.7

8.2

        Loans and Other Liabilities

4.2

8.6

9.6

    Total Amounts Owed to Credit Institutions

4.2

8.6

9.6

        Amounts Owed to Group Companies

9.3

3.5

1.2

    Total Short-Term Amounts Owed to Group and Associa

9.3

3.5

1.2

        Advanced Payments from Customers

0.1

0.0

0.1

        Amounts Owed for Purchases of Goods or Services

3.7

4.0

4.2

    Total Trade Creditors

3.8

4.1

4.2

        Public Bodies

0.2

0.2

0.4

        Miscellaneous Debts

0.1

0.1

0.4

        Wages and Salaries Payable

0.4

0.2

0.2

    Total Other Creditors

0.7

0.4

1.0

Total Short Term Creditors

18.0

16.6

16.0

Total Liabilities and Equity

39.1

35.7

38.4

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.72.34

Euro

1

Rs.63.87

 

 

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%)

 

 

 

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.