MIRA INFORM
REPORT
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Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
GNC GALILEO S.A |
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Registered Office : |
Rivadavia 986, 7o.piso, Ofic.26 de la Buenos Aires City |
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Country : |
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Financials (as on) : |
30.09.2010 |
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Date of Incorporation : |
30.09.1987 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacturing & Marketing of Pumps,
Compressors, Taps and Valves |
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No. of Employees
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200 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Argentina |
a1 |
a1 |
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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 |
GNC GALILEO S.A.
C.U.I.T. No.: 30-61608546-4
BEGINNER OF ACTIVITIES. IT OPERATES AS SUCH
SINCE 1987. BALANCE SHEET AS OF 30/09/2010 (last known). FOR CREDIT TREATMENT REQUIRE SOLID ADDITIONAL GUARANTEES.
PUMPS, COMPRESSORS, TAPS AND VALVES
MANUFACTURING
MARKETING
Legal form:
Public limited company
Created: 30/09/1987
Registered: 30/12/1987
Duratión: 30/12/2086
End of fiscal year: 30
September
Legal address:
Rivadavia 986, 7o.piso, Ofic.26 de la Buenos Aires City, Repúblic of Argentina.
Operative
and administrative address: Avda.Gral.Paz 265, Saenz Peña, Buenos Aires
Province, Repúblic of Argentina.
Phone: (54-11) 4712-6544/6522/6002
Fax.: (54-11) 4712-6003
President:
DE LA
ORDEN ULISES
Vicepresident: ROJAS PAYAN JUAN MANUEL
Director: MARANCA FAUSTO MARIA LUIS JUAN R.B.
Director: DAYTON GREGORIO FRANCISCO
Alternate Director: ALVAREZ
JORGE ERNESTO
Alternate Director: COMPOSTO
VICTOR
Tustees: CARLOS ALBERTO VINCI
Tustees: MARIA PAULA VINCI
The first two exhibit are responsible for directing and managing the company in
his capacity as manager with the use of the corporate signature
interchangeably.
SOCIAL CAPITAL $
5.786.000
DE LA ORDEN ULISES:
------------------
argentino, married, Enggenier, born 13/05/1945, DNI.No.: 4.609.981 with address
in 3 de Febrero 1712, San Isidro, Buenos Aires Province.
Based on data contained in our power, being
able to cite the owner for signature in his capacity as the initiator of the activities
carried out and for which it is located at the address exposed.
It is a stakeholder in the firm VIRTUAL GASNET INTERNATIONAL S.A. Writing
consisting of 21/06/2007 No. 201 and which also participates SOCMA INVERSIONES
S.A. which is earmarked address the provision of transport services, marketing
and distribution of natural gas.
Those responsible for
the company declined to provide information on a strict accounting.
Of the inquiries made through third parties, emerges as latest balance which
closed on 30 September 2010, which was possible to extract the following data:
ASSETS:
$
------
---
Disp.,Inv.,Créd.,etc.
63.375.222
Invetories
25.075.834
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Total current
88.451.056
Total non-current
18.724.907
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TOTAL ASSETS
107.175.963
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LIABILITIES:
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Debts
84.470.248
Salaries and social security
2.669.743
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Total current
87.139.991
Total non-current
10.157.964
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Total liabilities
97.297.955
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Net worth
9.878.008
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LIABILITIES+NET WORTH
107.175.963
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STATEMENT INCOME:
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Net sales
128.365.246
Cost of sales
-87.631.998
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Gross profit
40.733.248
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Expenses comercializatiòn -25.552.426
Expenses administratiòn -
7.156.167
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Sub-Total
8.024.655
Others incomes
- 5.845.611
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FINAL RESULT (GAIN)
2.179.044
===========
The above figures highlight the fact that society turns with high debt levels with
tight liquidity, obtaining a positive result of lean importance when compared
with the importance of the resources mobilized during the period.
So far the actions of society does not show contradictory alternatives and is
given good prospects.
In relation to the last period, there is a sales growth of 26.1% and improved
the final result of 76.4%, while net worth increased by 23.3%.
From the figures given above it was possible to obtain the following indices:
WORKING CAPITAL $ 1,311,065
CURRENT LIQUIDITY 1.02
DEBT 9.85
SOLVENCY 0.10
TOTAL SOLVENCY 1.10
S PROFIT / SALES 1.7%
Balance Sheet/s 30/09/2001 30/09/2000
Current Assets 1.545.170.212,00 1.050.421.713,00
Accounts Receivables 635.390.689,00 376.257.589,00
Inventory 546.892.650,00 445.586.315,00
Fixed Assets 48.432.085,00 37.091.027,00
Non-Current Assets 132.969.184,00 76.320.865,00
Investments 13.459.718,00 17.207.790,00
Current Liabilities 1.281.853.786,00 878.924.348,00
Non-Current Liabilities 28.303.835,00 33.511.460,00
StockHolders Equity 367.981.775,00 214.306.770,00
Net Sales 2.322.808.699,00 1.924.479.773,00
Cost of Good Sold -1.798.593.199,00 -1.486.708.569,00
Gross Result 4.121.401.898,00 3.411.188.342,00
Administrative Expenses -81.359.344,00 -69.485.058,00
Selling Expenses -210.551.539,00 -191.229.838,00
Financial Income -82.637.470,00 -69.589.857,00
Other Expenses 4.281.133,00 -14.160.123,00
Final Result 4.500.231.384,00 3.727.332.972,00
Indexes 30/09/2001 30/09/2000
Current Ratio 120,54 % 119,51 %
Quick Ratio 77,88 % 68,82 %
Short Term Indebtedness 348,35 % 410,12 %
Fixed Assets to Equity 13,16 % 17,31 %
Stocks Aging Days -110,98 días -109,40 días
Day Sales 99,84 días 71,36 días
Net Worth Aging 631,23 % 898,00 %
Fixed Assets Aging 4.796,01 % 5.188,53 %
Gross Profit -77,43 % -77,25 %
Financial Expenses on Sales Ratio -3,56 % -3,62 %
Commercial Exp. on Sales Ratio -9,06 % -9,94 %
Administrative Exp. on Sales Ratio -3,50 % -3,61 %
REAL ESTATE:
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Avda.Gral.Paz 265, Saenz Peña, Buenos Aires Province, Repúblic of
Argentina.
The specific purposes of
the holder have been exposed early, counting with adequate infrastructure and
line, an organization in which its managers participate together with the
necessary staff.
Specific imports from the U.S., Germany and Italy, not being marked its foray
into the export market.
* 200 EMPLOYEES
REGISTER YOUR MARKS THE FOLLOWING:
ENERSAVE
GALILEO
VIRTUAL PIPELINE
GNC GALILEO
MICROALGAE
MICROBOX
MICROSKID
MANOBOX
G POWER
S R M
TARTARINI
CHECK, COMPLIANCE AND WIN
VIRTUAL
FOREIGN TRADE
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During the past 12 months management has materialized s imports by $ 9,164,376
from the following countries:
U.S. 9,069,310
Germany 55,960
Italy 39,105
Among imported products may be mentioned the following:
AIR AND VACUUM PUMPS.
AIR COMPRESSORS
ARTICLES OF TAPS
CUTTING MACHINES AND ISOLATION.
THERMOSTATIC VALVES.
BANCO SUPERVIELLE
BANCO CREDICOOP
HSBC BANK ARGENTINA
BANCO DE GALICIA Y BS.AIRES
CREDIT RISK:
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02/2012
BANCO MERDIAN $ 3.720.300
BANCO FINANSUR 3.163.400
BANCO SUPERVIELLE 2.929.700
BANCO NACION 2.543.900
BANCO CREDICOOP 2.184.000
INV Y COM EXTE 2.031.400
BANCO CIUDAD 1.765.200
AMERICAN EXPRESS 133.000
BANCO GALICIA 300
Situatiòn 1 = normal.
INSURANCE:
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LA HOLANDO SUDAMERICANA CIA.DE SEGUROS S.A.
To date nothing arises
that may impact negatively on the business concept of this society.
With trade obligations, banking and financial compliance is undertaken properly
and is referred to on good terms.
* COMPLIANCE WITH NO OBJECTIONS
The statement is all
that can be reported about this society and is considered suitable for moderate
credits with the application of guarantees to ensure the normal recovery of
capital exposed. -
* SUITABLE 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.51.62 |
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UK Pound |
1 |
Rs.81.94 |
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Euro |
1 |
Rs.67.65 |
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.