MIRA INFORM REPORT
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Report Date : |
05.04.2012 |
IDENTIFICATION DETAILS
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Name : |
LABORATORIO |
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Registered Office : |
Sanabria 2353, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
12.07.1973 |
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Com. Reg. No.: |
07/11/1973 - Nº 2670, Folio 438, Book 78 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Commercialization of medicaments of human
use pharmaceutical products |
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No. of Employees
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710 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Argentina |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LABORATORIO ELEA S.A.C.I.F.A.
CUIT: 30-50057148-5
INCORPORATED IN 1973. FOLLOWER OF ACTIVITIES. NO UP-TO-DATE FINANCIAL INFORMATION IS SUPPLIED. BALANCE SHEET AS OF 31/12/2010. IT DOESN'T REGISTER NEGATIVE. FIT FOR CREDITS IN RELATION TO YOUR RESOURCES KNOWN AND APPROPRIATE GUARANTEES.
MEDICAMENTS OF HUMAN USE
PHARMACEUTICAL PRODUCTS
ELABORATION
COMMERCIALIZATION
Business type: Public Limited
Company
Incorporated: 12/07/1973
Registered: 07/11/1973 - Nº 2670, Folio 438, Book
78
Register #:
A-44908
Duration:
Until 07/11/2072
End of fiscal year: December 31st
Legal, Operative and Administrative address:
Sanabria 2353, Buenos Aires City, Argentine Republic.
Phone: (54-011) 4566-6111
E-mail: acerrar@gymsa.com.ar
saa@gymsa.com.ar
Web: www.laboratorioelea.com.ar
Alternate address:
Uspallata 2272,
O´Higgins 1333, Lanus, Buenos Aires
Santo Tome 4340, Buenos Aires City.
President: DRAJER ISAIAS MAURICIO
Vice-president: GALLUZZO
HUGO NESTOR
Director: BERKENWALD
PEDRO SAMUEL
Using signature: It is the
responsibility of President and Vice President.
In the Extraordinary and General Assembly of Shareholders of 11/07/2005 it was decided to increase the company's corporate stock from $ 12.483.280 to $ 62.438.239 through the capitalization of the item "capital adjustment", "irrevocable contributions" and "adjustment of irrevocable contributions".
This amount has been totally subscribed and paid-in. It is represented by the
same quantity of common and registered shares, with restricted transferability
and of par value $ 1,00 each and with one vote per share.
DRAJER ISAIAS MAURICIO:
He also works as President of G & M S.A. and as Alternate Director of
CHEMOTECNICA SINTYAL S.A.
GALLUZZO HUGO NESTOR:
Argentinian, married, born in 1954, DNI. 11.998.331, Lawyer, who is registered
in the following companies:
> LABORATORIOS PHOENIX S.A. Alternate Director
> COMSIL S.A.
Regular
Trustee
> FARMINDUSTRIA S.A.
Regular Trustee
> LA GAUCHITA SAN LUIS S.A. Regular
Trustee
BERKENWALD PEDRO SAMUEL:
Argentinian, married, born in 1951, DNI. 8.627.591, who is registered in the
following companies:
> SWAGE S.A.
Alternate Director
> RESOLUTION S.A.DE MARKETING INT Alternate Director
> TRIEST-INVEST S.A. Alternate Director
> COLAMORA S.A.
Alternate Director
> DISTRADE S.A.
Alternate Director
> GEME S.A.
Alternate Director
According to our registered information, it is known that these
activities were directly started during 1970 by Ms Flora D.de Schteiger, who
later on was succedeed by the company LABORATORIOS ENDOCRINO ARGENTINO S.R.L.
This company operated until late 1973, year in which the interested parts
agreed in organizing the subject company as follower of activities, operating
nowadays in the previously exposed address.
It is member of an economic group integrated by the following countries:
> INTERBELLE COSMETICS S.A.
> GSP EMPRENDIMIENTOS AGROPECUARIOS S.A.
> OLIVOS DEL OESTE S.A.
> DACSA S.A.
Therefore it has been necessary to consult
third parties, where we obtained figures of the Balance Sheet ended as of
31/12/2010.
ASSETS CURRENT $ 260.001.232
ASSETS NON CURRENT 80.286.091
LIABILITIES CURRENT $ 194.932.021
LIABILITIES NON-CURRENT 14.957.939
NET WORTH 130.397.363
NET SALES $ 652.250.698
FINAL UTILITY 23.971.635
The above figures show adjusted economic position with adequate liquidity,
having closed the period with a positive result of discrete importance, when
compared with the importance of the resources mobilized during the period.
It is noteworthy that so far the actions of the company shows no adverse
alternatives and assigned stable outlook.
In relation to the immediately preceding fiscal year was an increase in sales
of 58.2% and an improvement in outcome final 56.3%.
It was possible to extract the following indices:
WORKING CAPITAL $ 65.069.211
CASH FLOW 1,33
DEBT 1,61
SOLVENCY 0,62
TOTAL SOLVENCY 1,62
PROFIT S/SALES 3,7%
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Balance Sheet/s |
31/12/2006 |
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Total Assets |
$ 163.389.228,00 |
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Current Assets |
$ 100.452.741,00 |
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Banks |
$ 7.835.400,00 |
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Accounts Receivables |
$ 44.401.167,00 |
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Inventory |
$ 48.216.174,00 |
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Fixed Assets |
$ 50.348.800,00 |
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Non-Current Assets |
$ 62.936.487,00 |
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Investments |
$ 0,00 |
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Total Liabilities |
$ 74.279.221,00 |
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Current Liabilities |
$ 73.613.294,00 |
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Non-Current Liabilities |
$ 665.927,00 |
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StockHolders Equity |
$ 89.110.007,00 |
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Net Sales |
$ 231.839.945,00 |
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Cost of Good Sold |
$ 119.751.818,00 |
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Gross Result |
$ 112.088.127,00 |
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Administrative Expenses |
$ 11.350.782,00 |
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Selling Expenses |
$ 85.680.388,00 |
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Financial Income |
$ 0,00 |
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Other Expenses |
$ -6.607.573,00 |
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Final Result |
$ 8.449.384,00 |
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Indexes |
31/12/2006 |
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Current Ratio |
136,46 % |
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Quick Ratio |
70,96 % |
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Short Term Indebtedness |
82,61 % |
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Debt to Equity Ratio |
83,36 % |
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Long Term Assets to Total Assets |
38,52 % |
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Fixed Assets to Equity |
56,50 % |
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Total Assets to Total Liabilities |
219,97 % |
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Debt Ratio |
45,46 % |
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Equity Ratio |
54,54 % |
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Investments to Assets Ratio |
29,51 % |
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Current Investment |
61,48 % |
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Stocks Aging Days |
146,96 días |
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Day Sales |
69,90 días |
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Trade Debtors To Assets |
27,18 % |
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Total Assets Turnover |
141,89 % |
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Net Worth Aging |
260,17 % |
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Fixed Assets Aging |
460,47 % |
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Gross Profit |
51,65 % |
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Financial Expenses on Sales Ratio |
0,00 % |
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Commercial Exp. on Sales Ratio |
36,96 % |
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Administrative Exp. on Sales Ratio |
4,90 % |
It has not been possible to determine if the company owns properties
and/or vehicles.
In the last twelve
months it has carried out imports for a total value of u$s 14.895.092, from the
following countries:
SPAIN 3.677.732
EMIRATOS ARABES 5.847.331
CHINE 1.193.876
OTHERS 4.176.153
The main imported products were pharmaceutical preparations and products,
medicaments, etc.
It is a first-level company on its sector, which performs the manufacture and
commercialization of products of different therapeutic groups, which are also
exported to different countries.
It has an important infrastructure, mainly represented by its lab, which has
modern technology in accordance with the demands of a highly competitive
market.
MAIN PRODUCTS:
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> CRISPLUS ORLISTAT > EGESTAN HIERRO
> DIVA TOTAL > PARACLIM
1,25
> LUFLUMAX >
REGENESIS MAX
> OLDINOT FLASCH > CARMIN
> FEMOREL MAX > GINEDIOL
> ARAMIX >
NEUROTROX CR
> CUMAROL >
GINELEA MD
> PRIKAP >
OVUMIX OVUMIX
> TOLBIN >
BI MOXAL DUO
> MECTIN >
NEUTOP
PRODUCTS WITHOUT PRESCRIPTION:
------------------------------
> NOPUCID BIO CITRUS > SUMO FULL CONTACT
> BENADRIL ANTIALERGICO > LAXUAVE SEN
> CEDRIC >
SUMO REPELENTE
> MYLANTA EXTRA > AZIATOP
> VIFORTOL
These products are sold in the national territory, highlighting that their
distribution is carried out by DISPROFARMA S.A. which since 1978 became the
largest distributor of medicaments in the country.
Its activities are led by the main directors, who work together with 710
employees, among administrators, technicians, chemists and biochemists, etc.
NATIONAL SUPPLIERS:
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CARMIN S.A.
ÌBOPE ARGENTINA S.A.
SINTESIS EMPRESARIA S.A.
TEC INSTRUMENTAL S.A.
ALL TECHNOLOGY SRL
FORIEGN SUPPLIERS:
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BASELUX S.A. (Switzerland)
PFIZER EXPORT COMPANY (Ireland)
CHIRON BEHRING GmbH & Co. (Germany)
CARDINAL HEALTH (USA)
Payment
Record and Credit Risk
BANKS:
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BANCO DE LA NACION ARGENTINA Casa Central
HSBC BANK ARGENTINA Suc.Once
BANCO PATAGONIA
Casa Central
BANCO CDAD.DE BS.AIRES Casa Central
BANCO DE LA PAMPA Casa Central
BANCO SANTA FE
Suc.Buenos
Aires
BANCO BNP PARIBAS Casa Central
BANCO SANTANDER RIO Casa Central
BANCO PROVINCIA DE BS.AIRES Casa Central
BANCO COMAFI
Casa Central
BANCO ITAU
Casa
Central
STANDARD BANK
Casa Central
BANCO CREDICOOP COOP.LTDO. Casa Central
BANCO DE GALICIA Y BS.AIRES Casa Central
INSURANCE:
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JOHNSON & HIGGINS (Consultants)
A.R.T. LIBERTY
CREDIT RISK:
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JANUARY 2012
BANCO ITAU $ 45.535.900 1
HSBC ARGENTINA 23.142.800 1
BANCO DE GALICIA 20.288.100 1
BANCO SANTANDER 12.974.600 1
BANCO FRANCES 11.029.700 1
BANCO CREDICOOP 10.754.300 1
BANCO COMAFI 9.295.700 1
STANDARD BANK 378.400 1
AMERICAN EXPRESS 83.500 1
YPF S.A. 44.800
1
BANCO PATAGONIA 4.000 1
BANCO LA PAMPA 3.100
1
BANCO FINANSUR 2.800
1
SITUATION 1: NORMAL FULFILLMENT.
Up to now there are no elements that could
affect the company's commercial concept.
According to our consultations, it complies in due time the commitments taken.
* FULFILLMENT: WITHOUT OBJECTIONS
We consider feasible the credit treatment
with this company by amounts of current importance with the adoption of
appropriate guarantees.
* FIT FOR CREDITS
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.05 |
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UK Pound |
1 |
Rs.81.09 |
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Euro |
1 |
Rs.67.39 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.