MIRA INFORM REPORT

 

 

Report Date :

18.08.2012

 

IDENTIFICATION DETAILS

 

Name :

GELCAP SRL

 

 

Registered Office :

Sos. Bucuresti Nord 1, 077190 Voluntari, Jud. Ilfov

 

 

Country :

Romania

 

 

Financials (as on) :

2005

 

 

Date of Incorporation :

09.12.2002

 

 

Com. Reg. No.:

No. J40/2182/1991

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of basic pharmaceutical products

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Dissolved

Payment Behaviour :

Unknown

Litigation :

---

 

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Romania

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY REPORTED

 

 

GELCAP SRL

The status of the company to the Trade Registry: erased (following the closure of the banckruptcy procedure).

Principal Address:
Sos. Bucuresti Nord 1
077190 Voluntari, Jud. Ilfov
Romania
Telephone: +40-21-2423501, +40-21-2421847, +40-21-2422433, +40-21-2121772, +40-21-2121716
Fax: +40-21-2423501;2121716

Branch production:
Petricani
023841 Bucuresti, Sectorul 2
Romania

 

ICON number: 9417450
National ID: J23/2626/2002
VAT number: 2357590

 

Registration status: 26.05.2009 - company has been deleted
Activity status: 26.05.2009 - company has ceased activities

 

 

 

CREDIT INFORMATION SUMMARY

 

 

 

 

Insolvency Information:

This report section contains important information about insolvency, preliminary or debt regulation proceedings

 

06.12.2007 - Bankruptcy has been opened.

Court decision date:

06.12.2007

Court publishing date:

14.12.2007

Court number:

18764/3

Court name:

Bucuresti

Court address:

Bucuresti

Number of publication:

46999

Publication text:

TMB SECT. aVII-a COMERC. a dispus prin Sent.Comerc.nr.4648 din 04.12.2007 pronuntata conf.Lg.85/2006 intrarea in faliment prin proced.simplificata si a fost desemnat lichidat.judic. pe ISD Insolvency.

 

 

31.03.2009 - The company has been dissolved.

Court decision date:

31.03.2009

Court publishing date:

26.05.2009

Court number:

18764/3

Court name:

Ilfov

Court address:

Ilfov

Number of publication:

29171

Publication text:

inchidere proced. conf. art.131 din L.85/2006; radiaza societ.debitoare

 

 

 

 

 

 

 

 

Payment Practices:

No payment experience of any importance is available.

 

 

Further Rating Information:

Researched company is categorized as a medium sized company.
The company generated a turnover of RON 4.902.446 in the year 2005.

 

 

Debt Collection:

There is no record of any debt collection action by Coface Romania Credit Management Services SRL against this company exceeding a single case volume of EUR 500.

 

 

COMPANY DETAILS

 

 

 

 

 

Established:

2002

 

 

Registration:

No. J23/2626/2002
09.12.2002
Ilfov, Romania

 

 

Former Registration:

No. J40/2182/1991
09.12.2002
Bucuresti, Romania

 

 

Legal Form:

Limited Liability Company

 

 

History:

On 26.05.2009 the subject company was erased from the Trade Registry as a consequence of the Court's decision: closure of the banckruptcy procedure and erasing the debtor (subject company).

 

 

Capital:

Nominal capital:

 

RON 16.796.500,00

Number of Ordinary shares:

33.593

 

Value per share of Ordinary shares:

RON 500,00

 

 

Paid-up capital:

 

RON 16.796.500,00

 

Paid other than in cash:

RON 875,00

 

 

 

Shareholders:

Full Name

Function

Address

Equity capital

ZENTIVA SA
Registration: No. J40/363/1991, 09.02.1991, Bucuresti, Romania

Shareholder

Bd. Theodor Pallady 50
032266 Sector 3
Bucuresti
Romania

29,84%
10.024 Ordinary shares

TECHNOPHAR EQUIPMENT AND SERVICE
Registration: Canada

Shareholder

Ontario
Canada

27,02%
9.077 Ordinary shares

IMECO SA
Registration: No. J40/121/1991, BUCURESTI, Romania

Shareholder

GHEORGHE LAZAR 8A
BUCURESTI sect. 1
Romania

26,86%
9.023 Ordinary shares

MATRITA SA
Registration: No. J19/36/1991, 12.02.1991, Harghita, Romania

Shareholder

Nicolae Balcescu 5
535600 Odorheiu Secuiesc
Harghita
Romania

8,40%
2.822 Ordinary shares

SOMUC SA BUCURESTI
Registration: Romania

Shareholder

 

7,88%
2.647 Ordinary shares

 

 

Management:

Full Name

Function

Address

BUSTEA ELENA

Liquidator

Romania

ISD INSOLVENCY SPRL
Registration: Romania

Liquidator

Bucuresti
Romania

TUICA DIMITRU
10.04.1991 - Present

Director

Romania

 

 

Person functions in other companies:

Function

Company

Other known functions of  BUSTEA ELENA

Shareholder

CENTRUL DE CARTE STRAINA SITKA SRL (RO)
National ID: J40/8767/1999

Receiver - compulsory settlement

GEROVITAL COSMETICS SA (RO)
National ID: J23/1369/2005

 

 

 

KEY DATA ON OPERATIONS

 

 

 

 

Subject of Operation:

NACE
  2110 Manufacture of basic pharmaceutical products

Poducer of pharmaceutical preparations.
NACE codes given are based on the most recent NACE Revision 2.

The company is active in the Coface sector 'Mineral products, chemicals, petroleum, plastics, pharmaceuticals and glass '.

Note: the Coface Sector Rating for this industry in the emerging markets of CEE is 'B' (Last rating: 'B')

Inflation rate: 5,8%

 

 

Company Development:

0: Development cannot be determined by outside parties

 

 

Key Data:

Amounts shown in Romanian Leu (New) (RON)

 

2005

Turnover

4.902.446

Fixed assets

341.609

Equity capital

-5.334.145

Loss after taxation

1.848.755

 

 

2005

Return on equity ( ROE )
Net profit / Shareholder equity

0

 

 

Workforce:

 

2005

Total workforce

86

 

 

FINANCIAL INFORMATION

 

 

 

 

 

Financials:

Amounts shown in Romanian Leu (New) (RON)  

2005






BALANCE SHEET

 

FIXED ASSETS

341.609

 

CURRENT ASSETS

3.364.833

 

Inventory

1.229.982

 

Claims (receivable)

2.097.653

 

Liquid assets

37.198

 

EQUITY CAPITAL

-5.334.145

 

Subscribed and paid capital

16.796.500

 

TOTAL DEBTS

9.064.394

 

Provisions for risks and charges

0






PROFIT AND LOSS

 

Turnover

4.902.446

 

TOTAL INCOME

5.861.770

 

TOTAL EXPENSES

7.710.525

 

Profit before taxation

0

 

Loss before taxation

1.848.755

 

Profit after taxation

0

 

Loss after taxation

1.848.755

 

Profit tax

0

 

 

Approximate Exchange Rates:

2011: 4,2379 RON = 1 EUR
2010: 4,2099 RON = 1 EUR
2009: 4,2373 RON = 1 EUR
2008: 3,6827 RON = 1 EUR
2007: 3,332 RON = 1 EUR
2011: 3,0486 RON = 1 USD
2010: 3,1779 RON = 1 USD
2009: 3,0493 RON = 1 USD
2008: 2,5189 RON = 1 USD
2007: 2,4383 RON = 1 USD

 

 

Financial Comments:

The subject company is erased from the Romanian Trade Register; therefore there are no financials available.

Effectively from July 1st 2005, the Romanian currency was redenominated so that 10,000 old lei(ROL) will be exchanged for 1 new leu (RON).
The financial statements of the companies will be published in new currency RON starting with 31.12.2005.
All financials for previous years displayed in the report were converted from ROL to RON.

 

 

Ratios:

 

2005

Return on sales ( ROS )
Net profit / Turnover

0

Return on equity ( ROE )
Net profit / Shareholder equity

0

Days supply in inventory
(Inventory / Turnover) * No. of days in period

91,58

Days sales in receivables
(Receivables / Turnover) * No. of days in period

156,18

Receivables as % of current assets
(Receivables / Current assets) * 100

62,34

 

 



 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.87.54

Euro

1

Rs.68.85

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.