MIRA INFORM REPORT

 

 

Report Date :           

09.01.2012

 

IDENTIFICATION DETAILS

 

Name :

CORPORACION LODRA S.R.L.

 

 

Registered Office :

25 de Mayo 286 1º 2, Temperley, Buenos Aires Province, Argentine Republic.

 

 

Country :

Argentina

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.07.1989

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Import & commercialization of food additives

 

 

No. of Employees :

14

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Argentina

a1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Registered Name   

 

CORPORACION LODRA S.R.L.

CUIT: 30-63256071-7

 

 

Summary      

 

BEGINNER OF ACTIVITIES. INCORPORATED IN 1989. GLOBAL FIGURES OF BALANCE SHEET AS OF 31/12/2010: BALANCED LIQUIDITY AND HIGH INDEBTEDNESS LEVEL WITH A POOR FINAL PROFITABILITY. IT DOESN'T REGISTER NEGATIVE. FOR CREDIT TREATMENTE OPERATE BY AMOUNTS OF MEDIUM IMPORTANCE. TAKE APPROPRIATE GUARANTEES.

 

 

Operations       

 

FOOD ADDITIVES
IMPORT
COMMERCIALIZATION

 

 

Legal Structure   

 

Business type:      Limited Liability Company
Incorporated:       27/07/1989
Registered:         Public Registry of Commerce
Duration:           Unlimited
End of fiscal year: December 31st

 

 

Contact       

 

DANIEL FANTIN (Manager)

Operative and Administrative address: Girardot 1681 (1427) Buenos Aires City, Argentine Republic.

Phone: (54-011) 4553-3529
E.Mail: fernando@lodra.com.ar 

Legal address: 25 de Mayo 286 1º 2, Temperley, Buenos Aires Province, Argentine Republic.

 

 

Partners     

 

Partners:      

Alicia Matilde Jodra
Daniel Fantin
Federico Fantin

The first mentioned one, as Manager, is in charge of the management and administration of the company, with the use of the social signature.

 

 

Corporate Stock       

 

The company's corporate stock is of $ 120.212, being equally contributed by the mentioned partners.

 

 

Personal Information   

 

JODRA ALICIA MATILDE:
Argentinian, married, DNI. 12.472.950.

 

 

History   

 

The company was incorporated with the objective of performing its current activities, operating nowadays in the previously exposed address.

On 16/12/2003 Mr Alberto Horacio López (DNI. 10.780.309) left the company and transfered all its shares (5.000) to the other partners.

This related with the company: INSUMOS DEL PLATA S.A.

 

 

Economic-Financial Position   

 

 

Contact has been taken with Mr Daniel Fantin, who supplied global figures of the Balance Sheet ended as of 31/12/2010.

CURRENT ASSETS         $   7.000.000

NON-CURRENT ASSETS     $     230.000

7.230.000


CURRENT LIABILITIES    $   5.200.000

NON-CURRENT LIAB.      $     205.000

NET WORTH              $   1.825.000

$  7.230.000

He also admits that sales have fluctuated last period $ 15,500,000 .- with a net income of $ 610,000 .-

So far the company's shares does not show ups and downs and their outlook is stable.

 

 

Parent/Related Companies      

 

INSUMOS DEL PLATA S.A.

 

 

Evolution and Results       

 

The company is engaged in the import and commercialization of food chemical products, industrial products and medicines directed to manufacturers of foodstuffs, such as juices, sodas, breads, sweets, sausages, etc., pharmacies, cosmetics and others.

It operates in the previously exposed address, where it has an appropriate-sized building with its administrative offices, exhibition and sales area, warehouse, etc.

Its activities are led by the main directors, who work together with 14 employees.

MAIN SUPPLIERS:
---------------
AGB S.A.
INMOBAL NUTRER S.A.
BASF S.A.
RAIMOND (CHINA)
JEBSEN Y JEBSEN GMBH (GERMANY)
RZBC (CHINA)

FOREIGN TRADE:
--------------
In the last twelve months it has carried out imports for a total value of u$s 13.608.404, from the following countries:

CHINA                 12.504.670
SPAIN                    362.616
HONG KONG                208.448
0THERS                   532.670

The main imported products were compounds with nitrogenous functions, etc.

* 14 employees

 

 

Payment Record and Credit Risk      

 

BANKS:
------
HSBC BANK ARGENTINA
BANCO CIUDAD DE BUENOS AIRES
BANCO CREDICOOP
BANCO DE LA NACION ARGENTINA
BANCO SANTANDER RIO

INSURANCE:
----------
INTERACCION S.A.
PLENARIA CIA. DE SEGUROS S.A.
LA MERCANTIL ANDINA S.A.


CREDIT RISK:
------------
OCTOBER 2011

Banco Ciudad de Bs. Aires   $ 421.200 situation 1
Banco Santander             $ 154.300 situation 1


SITUATION 1: NORMAL FULFILLMENT.

 

 

Concept       

 

Up to now there are no negative records that couold affect the company's concept.

According to our consultations, it complies in due time the commitments taken.

* FULFILLMENT: WITHOUT OBJECTIONS

 

Final Opinion    

 

We consider feasible the credit treatment with this company by amounts moderate and with additional guarantees.
* FIT FOR CREDITS

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.78

UK Pound

1

Rs.81.79

Euro

1

Rs.67.46

 

 

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.