MIRA INFORM REPORT
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Report Date : |
12.01.2012 |
IDENTIFICATION DETAILS
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Name : |
KLONAL S.R.L. |
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Registered Office : |
Avda. Rivadavia 2151 piso 23, Ciudad de Buenos Aires |
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Country : |
Argentina |
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Financials (as on) : |
30.09.2010 |
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Date of Incorporation : |
18.05.1973 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Production and commercialization of medicinal specialities |
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No. of Employees
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257 |
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 |
Registered
Name
KLONAL S.R.L.
CUIT Nro. 30-57456436-7
Summary
INCORPORATED IN 1973. BEGINNER OF ACTIVITIES. BALANCE SHEET AS OF 30/09/2010:
POSITIVE WITH A BALANCED ECONOMIC-FINANCIAL POSITION. STABLE PERSPECTIVES AND
EVOLUTION. IT DOESN'T REGISTER NEGATIVE. FIT FOR CREDITS IN ACCORDANCE WITIH
ITS RESOURCES WITH THE REQUEST OF APPROPRIATE GUARANTEES.
Operations
MEDICINAL SPECIALITIES
PRODUCTION
COMMERCIALIZATION
Legal
Structure
Business type: Limited
Liability Company
Incorporated: 18/05/1973
Registered: 1973
Duration: 99 years
End of fiscal year: September 30th
Contact
Accountant Labandeira.
Legal address and Administration: Lamadrid 669, Bernal, Buenos Aires Province.
Phone: (54-11) 4251.1354/4252.7192
E-mail: klonal@satlink.com
Production Plant: Lamadrid 802, Quilmes, Buenos Aires Province.
LEGAL ADDRESS: Avda. Rivadavia 2151 piso 23, Ciudad de Buenos Aires
Partners
Partner: IAIZA
SUSANA
Partner: SANTANDER NICOLAS ALFREDO
Partner: SANTANDER MARIELA JUDITH
Partner: ROSA ANA NORMA
They are in charge of the social signature use.
Corporate
Stock
The company's corporate
stock is of $ 32.094,96, which is equally contributed by the mentioned
partners.
Personal
Information
NICOLAS ALFREDO
SANTANDER
Argentinian, born on 11/10/l979, DNI. 27.655.198, married to Cecilia Naselo,
Bachelor in Business Administration, with address in Matienzo 3797 Barrio
J.Espinosa, Cordoba.
He is registered in the following companies:
HARAS Y STUD NIMANOR S.R.L.
PANPHARMA S.A.
DROGUERIA GENERAL S.A.
NORMA ANA ROSA
Argentinian, adult, DNI. 5.748.484, widow of Alfredo Raul Santander, National
Public Accountant, with same address than the aforementioned.
She is registered in HARAS Y STUD NIMANOR S.A.
MARIELA JUDITH SANTANDER
Argentinian, adult, DNI. 24.120.208, married to Jorge Luis Ninci, Biochemist,
with address in O´higgins 53909 Barrio San Carlos, Cordoba.
She is registered in HARAS Y STUD NIMANOR S.A.
SUSANA IAIZA
Argentine, born in 29.7.1957, DNI. 13.372.196, single, daughter of Rosa Pasetti
and Jose Iaiza, address at Avda. Rivadavia 2151, Ciudad de Buenos Aires.
History
These commercial
activities were directly started by this company on May 18th 1973.
The company is dedicated to the production and commercialization of speciality
medicines.
Economic-Financial
Position
GENERAL BALANCE SHEET TO THE 30 OF SEPTEMBER OF
2009 and 2010:
ASSETS:
2009 2010
------
---- ----
Disp.,Inv.,Créd.,y otros 20.602.074 22.349.701
Inventories 10.471.541
19.796.580
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Total current 31.073.615
42.146.281
Total non-current 6.961.386
8.903.124
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TOTAL ASSETS 38.035.001
51.049.405
========== ==========
LIABILITIES:
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Debts
14.300.944 21.848.106
Salaries and social charges 1.337.469 2.194.140
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Total current 15.638.413
24.042.246
Total non-current
0 0
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Total liabilities 15.638.413
24.042.246
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Net worth 22.396.588
24.042.246
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TOTAL GENERAL 38.035.001
51.049.405
========== ==========
STATEMENTE INCOME:
------------------
Net sales 71.195.854
89.051.267
Cost of sales -48.921.429
-62.702.009
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Gross profit 22.274.425
26.349.258
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Expenses comercial. - 9.492.703 -11.049.176
Expenses administra. - 4.181.773 - 7.303.260
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Sub-Total
8.599.949 7.996.822
Others incomes+expenses - 3.759.478 - 3.273.622
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FINAL RESULT 4.840.471 4.723.200
========== ==========
Came to 30/09/2010 operate with a balanced economic
and financial position, both from the point of view of liquidity supported as
the level of debt held.
Regarding the profitability achieved, it has been discreet and more important
for a company of its importance in the sector.
Balance
Sheet
Balance Sheet/s 30/09/2008
Total Assets $ 28.605.637,00
Current Assets $ 22.457.739,00
Banks $ 4.042.393,00
Accounts Receivables $ 13.227.609,00
Inventory $ 5.187.737,00
Fixed Assets $ 4.918.317,00
Non-Current Assets $ 6.147.898,00
Investments $ 0,00
Total Liabilities $ 11.049.520,00
Current Liabilities $ 11.049.520,00
Non-Current Liabilities $ 0,00
StockHolders Equity $ 17.556.117,00
Net Sales $ 54.387.013,00
Cost of Good Sold $ 37.797.602,00
Gross Result $ 16.589.411,00
Administrative Expenses $ 12.314.786,00
Selling Expenses $ 0,00
Financial Income $ 0,00
Other Expenses $ 0,00
Final Result $ 4.274.625,00
Balance
Sheet Analysis
Indexes 30/09/2008
Current Ratio 203,25 %
Quick Ratio 156,30 %
Short Term Indebtedness 62,94 %
Debt to Equity Ratio 62,94 %
Long Term Assets to Total Assets 21,49 %
Fixed Assets to Equity 28,01 %
Total Assets to Total Liabilities 258,89 %
Debt Ratio 38,63 %
Equity Ratio 61,37 %
Investments to Assets Ratio 18,14 %
Current Investment 78,51 %
Stocks Aging Days 50,10 días
Day Sales 88,77 días
Trade Debtors To Assets 46,24 %
Total Assets Turnover 190,13 %
Net Worth Aging 309,79 %
Fixed Assets Aging 1.105,81 %
Gross Profit 69,50 %
Financial Expenses on Sales Ratio 0,00 %
Commercial Exp. on Sales Ratio 0,00 %
Administrative Exp. on Sales Ratio 22,64 %
Assets
REAL ESTATE:
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The company is owner of the large establishment located in the previously
exposed address, having a very important realization value. It is unknown if
this property is unencumbered.
VEHICLES:
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1 van Fiat Fiorino
2 van Fiat Ducato
1 van Peugeot Boxer
Commercial
References Consulted
MPI (GERMANY)
WENDA INC (CHINA)
Among its suppliers has assigned diverse credits in accordance to its needs in
terms of 30 to 120 days.
Evolution
and Results
It is a company with more
than 30 years of experience in the pharmaceutical market and one of the five
best labs that produces generic medicines.
We mention some competitive advantages that were developed during these years:
HIGH ACCEPTANCE OF ITS BRAND IN THE MARKET (Clinics, sanatoriums, hospitals and
pharmacies). This allow the company to launch new products and obtain an
important market share for maintaining itself as one of the best purchase
alternatives for its customers.
LARGE STOCK OF DRUG: Currently it has more than 300 presentations, having 10
development lines clearly differentiated and completed, covering in this way
80% of the Minimum Obligatory Capability.
PLANTS OF INJECTABLES: Its main customer is the publih sector of health, which
mainly requires injectable products. Therefore it has two elaboration plants of
injectable medicaments: one is its plant of "Beta-lactams" that
produces antibiotics in bottles and the other is the
"Non-Beta-lactam" where the bottles are dosed. With both plants it
covers the main needs of the market.
PRODUCTS: One of the keys of its growth was the perseverance in the launch of
new products. Currently it launches about 12 products per year and has more
than 50 on its line for keeping complementing its lines of development.
The company has developed its main activity in the supply of medicines for the
public sector of health and for welfare companies, obtaining a large experience
in the manufacture and control of a varied range of pharmaceutical ways.
Nowadays it performs the development of a line of medicines in ethical bottles
for the sale in pharmacies, being supported by the incorporation of technology,
human resources and policies that ensure the quality of its products.
Its industrial plant is over an average of 4000 sqm. in Quilmes city. It was
opened in August/2003 and all its production areas are fed with filtered air
through 11 air managers.
MAIN PRODUCTS:
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ZOLCEF (CEFAZOLIN 1 G)
SINTEROL (EZETIMIBE 10 MG)
ESPIMAX (SPIRONOLACTONE)
NEXADRON PLUS (SINUS CONGESTION)
KLONAFENAC GEL
HIPOTEN KLONAL.
Apart from its operation in all the national market, it carries out exports of
its products to El Salvador, Panama, Peru, Bolivia, Nicaragua, Dominican
Republic and Vietnam
Its exports represent 10% of total sales.
FOREIGN TRADE:
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In the last twelve months it has carried out imports for a total value of US$
1.728.647 from the following countries:
CHINE .............................. u$s. 1.306.300
ITALY .............................. u$s. 333.411
INDIA .............................. u$s. 55.274
OTHERS ............................. u$s. 33.662
IMPORTED PRODUCTS:
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Antibiotics
Peniciline
Amoxiline
Cefamycin
Cefaclorum
Cephalexin
LOCAL SUPPLIERS:
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AMPOSAN S.A.
ARGENPACK S.A.
DIESTA S.A.
IMNOVAL NUTRER S.A.
FOREIGN SUPPLIERS:
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MPI (GERMANY)
GEMINIS (INDIA)
WENDA INC (CHINA)
* 257 EMPLOYEES
Payment
Record and Credit Risk
BANKS:
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BANCO DE GALICIA Y B.AS.
BANCO DE LA NACION ARGENTINA
BANCO CREDICOPP
HSBC BANK ARGENTINA
CREDIT RISK:
------------
OCTOBER 2011
GALICIA 10/2011 1
$ 1.418.300
BCO.CREDICOOP "
" $ 998.700
PCIA.BS.AIRES "
" $ 925.800
NACION "
" $ 315.900
HSBC "
" $ 145.600
AMERICAN EXPRESS " "
$ 10.000
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TOTAL: $ 3.814.300
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Situation 1: Normal Fulfillment.
INSURANCE:
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FEDERACION PATRONAL COOP. DE SEGUROS
Insurance policies for general risk.
Concept
There's no
observations around the fulfillment, the society fulfills the
commitments that assume and generally is referred well.
FULFILLMENT WITHOUT OBJECTIONS
Final Opinion
We consider that
the credit deal with this society is viable, within sums that bear relation
with their economic-financial resources known in the conditions of
practices.
* APT FOR CREDITS THAT BEAR RELATION TO THEIR WELL-KNOWN RESOURCES.
LJM/CR
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.75 |
|
UK Pound |
1 |
Rs.80.01 |
|
Euro |
1 |
Rs.65.99 |
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 |
|
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 |
|
<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.