MIRA INFORM REPORT

 

 

Report Date :

02.11.2012

 

IDENTIFICATION DETAILS

 

Name :

PREST S.A.

 

 

Registered Office :

 

Av. Osvaldo Cruz 2472, Buenos Aires City, Argentine Republic.

 

 

 

 

Country :

Argentina

 

 

 

 

Financials (as on) :

30.04.2011

 

 

 

 

Date of Incorporation :

02.07.1970  

 

 

 

 

Legal Form :

Public Limited Company

 

 

 

 

Line of Business :

Commercialization and Import of Chemical Products

 

 

 

 

No. of Employees :

Not Available

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Argentina

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

ARGENTINA - ECONOMIC OVERVIEW

 

Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. A severe depression, growing public and external indebtedness, and a bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - the largest in history - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by an average 8.5% annually over the subsequent six years, taking advantage of previously idled industrial capacity and labor, an audacious debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in early 2007, with understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy has rebounded strongly from the 2009 recession, but the government's continued reliance on expansionary fiscal and monetary policies risks exacerbating already high inflation.

Source : CIA

Registered Name   

 

PREST S.A.

C.U.I.T. No.: 30-51912363-7

 

 

Summary      

 

INCORPORATED IN 1970. BEGINNER OF ACTIVITIES. FIGURES OF GENERAL BALANCE AS 30.4.2011 (LAST KNOWN). NO NEGATIVE. APT FOR CREDITS IN ACCORDANCE TO ITS OWN RESOURCES.

 

 

Operations       

 

CHEMICAL PRODUCTS
IMPORT
COMMERCIALIZATION

 

 

Legal Structure   

 

Business type:       Public Limited Company
Incorporated:        02/07/1970  
Registered:          21/09/1970
Register #:          36.908  
Duration:            99 years
End of fiscal year:  April 30th

 

 

Contact       

 

Mr Rolando Alfredo Gonzalez.

Legal and Operative address: Av. Osvaldo Cruz 2472, Buenos Aires City, Argentine Republic.

Phone: (54-11) 4303-0822/0823
Fax: (54-11) 4303-0819/0820
E-mail: rgonzalez@prest.sa.com

 

 

 

Partners     

 

 President:             PATIÑO GUILLERMO ENRIQUE
1º Vice-president:  PATIÑO RODRIGO GUILLERMO
2º Vice-president:  GONZALEZ ROLANDO ALFREDO


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       

 

 Personal Information   

 

 

PATIÑO GUILLERMO ENRIQUE
Argentinian, married, born on 10/06/1958, DNI. 12.274.281 (CUIT. 20-12274281-5) with address in Ituzaingo 555, Temperley, Buenos Aires Province.

HE registers backgrounds through the following companies:

> AGM VISION S.R.L.                             Partner
> STATUS SALUD S.R.L.                       Partner

GONZALEZ ROLANDO ALFREDO
Argentinian, married, born on 24/05/1961, DNI. 14.355.463.

 

 

History   

 

The company was incorporated by mid-1970 with the objective of performing its current activities, operating nowadays in the previously exposed address.

There is neither register of its participation in other economic group, or of its directors’ in other companies apart from the previously mentioned ones.

 

 

Economic-Financial Position   

 

With the intention of illustrating to Mr. Subscriber on the individual, numbers of the General Balance sheet are exposed as follows that the holder practiced to the 30/04/2011 (LAST KNOWN):

ASSETS CURRENT           $ 6.199.560

ASSETS NON-CURRENT       $   516.742

LIABILITIES CURRENT      $ 1.937.336

LIABILITIES NON-CURRENT  $   471.445

NET WORTH                $ 4.307.521

NET SALES                $20.266.197

FINAL UTILITY            $ 1.342.813

In relation to the immediately preceding fiscal year is an increase in sales of 16.1% improvement yun final result of 74.8%.

 

 

Financials

 

 Balance Sheet            

 

 

Balance Sheet/s

30/04/2011

30/04/2010

30/04/2008

Total Assets

$ 6.716.302,00

$ 6.046.316,00

$ 4.245.927,05

Current Assets

$ 6.199.560,00

$ 5.636.981,00

$ 4.088.174,93

Banks

$ 0,00

$ 0,00

$ 120.336,99

Accounts Receivables

$ 0,00

$ 0,00

$ 1.439.948,21

Inventory

$ 2.962.386,00

$ 3.201.181,00

$ 2.348.442,81

Fixed Assets

$ 0,00

$ 0,00

$ 157.752,12

Non-Current Assets

$ 516.742,00

$ 409.335,00

$ 157.752,12

Investments

$ 0,00

$ 0,00

$ 0,00

Total Liabilities

$ 2.408.781,00

$ 2.321.608,00

$ 1.545.808,05

Current Liabilities

$ 1.937.336,00

$ 2.225.960,00

$ 1.545.808,05

Non-Current Liabilities

$ 471.445,00

$ 95.648,00

$ 0,00

StockHolders Equity

$ 4.307.521,00

$ 3.724.708,00

$ 2.700.119,00

Net Sales

$ 20.266.197,00

$ 17.448.554,00

$ 10.571.111,17

Cost of Good Sold

$ 13.967.365,00

$ 12.573.270,00

$ 7.156.854,52

Gross Result

$ 6.298.832,00

$ 4.875.284,00

$ 3.414.256,65

Administrative Expenses

$ 1.698.353,00

$ 1.331.149,00

$ 1.017.086,09

Selling Expenses

$ 2.299.710,00

$ 2.000.777,00

$ 1.497.314,37

Financial Income

$ 0,00

$ 0,00

$ 25.489,84

Other Expenses

$ -957.956,00

$ -775.319,00

$ -278.028,22

Final Result

$ 1.342.813,00

$ 768.039,00

$ 596.338,13

 

 

 Balance Sheet Analysis 

 

Indexes

30/04/2011

30/04/2010

30/04/2008

Current Ratio

320,00 %

253,24 %

264,47 %

Quick Ratio

167,09 %

109,43 %

112,55 %

Short Term Indebtedness

44,98 %

59,76 %

57,25 %

Debt to Equity Ratio

55,92 %

62,33 %

57,25 %

Long Term Assets to Total Assets

7,69 %

6,77 %

3,72 %

Fixed Assets to Equity

0,00 %

0,00 %

5,84 %

Total Assets to Total Liabilities

278,83 %

260,44 %

274,67 %

Debt Ratio

35,86 %

38,40 %

36,41 %

Equity Ratio

64,14 %

61,60 %

63,59 %

Investments to Assets Ratio

44,11 %

52,94 %

55,31 %

Current Investment

92,31 %

93,23 %

96,28 %

Stocks Aging Days

77,41 días

92,93 días

119,77 días

Day Sales

0,00 días

0,00 días

49,72 días

Trade Debtors To Assets

0,00 %

0,00 %

33,91 %

Total Assets Turnover

301,75 %

288,58 %

248,97 %

Net Worth Aging

470,48 %

468,45 %

391,51 %

Fixed Assets Aging

Infinito %

Infinito %

6.701,09 %

Gross Profit

68,92 %

72,06 %

67,70 %

Financial Expenses on Sales Ratio

0,00 %

0,00 %

0,24 %

Commercial Exp. on Sales Ratio

11,35 %

11,47 %

14,16 %

Administrative Exp. on Sales Ratio

8,38 %

7,63 %

9,62 %

 

 Assets    

 

 

BUILDINGS:
---------
To the closing of the last annual economic exercise, the holder did not register to his name the possession of real estate, not being well-known that later has come to incorporate  this  type of goods to its assets.

The good that occupies in the signs, is registered to the name of its managers.

ROLLINGS:
-------
1 Renault Clio automobile mod.2004
1 BMW automobile mod.2000
1 automobile VW New Deetle mod.2007
1 automobile Seat Ivisa mod.1998

 

 

Commercial References Consulted       

 

ISP DE ARGENTINA S.A.
ISOALJO S.R.L.
ETUXED S.R.L.

Our suppliers have informed these credits allocated varied as your needs using rotation so demand it.

In recent checks shall determine that cancels its obligations under reasonable terms and is well referenced.

 

 

Evolution and Results     

 

FOREIGN TRADE:
-----------------
IN THE LAST 12 MONTHS IT HAS CARRIED OUT IMPORTS FOR USD 2.274.852 AS FOLLOWS:

CHINA...................877.786
INDIA...................827.595
SPAIN...................280.293
OTHERS..................289.179

The company is engaged in the import, commercialization and export of pharmaceutical and veterinary products, operating nowadays in the previously exposed address.

It is a company of reasonable importance on its sector, which has an appropriate infrastructure and organization, where its directors participate together with the necessary staff.

Around 90% of its purhcases are from imports which are carried out from   Switzerland, China, India,  Colombia, Germany, Uruguay and Spain, highlighting that its exports are done to Uruguay.

 

 

 Payment Record and Credit Risk   

 

 

BANCO DE GALICIA Y BUENOS AIRES
BRANCH. N* 151, CC.No. 469/9-151/4.

BANCO DE LA PROVINCIA DE BUENOS AIRES
BRANCH.Barracas CC.No. 12422/9

CREDIT RISK
-----------
08/2012

BANCO DE GALICIA.........................................$  2.598.500
BANCO CREDICOOP..........................................$  2.306.800
BANCO PROV,. BUENOS AIRES................................$  1.307.600
BANCO CIUDAD DE BUENOS AIRE..............................$    224.700

Situation 1:  normal fulfillment

INSURNACE:
-------
CNA ART
LIBERTY S.A.
ZURICH CIA.DE SEGUROS S.A.

 

 

Concept       

 

To the present no record our negative informed of any kind and determined through inquiries that have been made, maintaining proper business conduct in the attention of the general obligations assumed.

* FULFILLMENT: NOT OBJECTED.

 Final Opinion              

What is expressed can tell everything about this society and considered feasible loan deal with it, in amounts that relate to its economic and financial resources known.

In larger amounts of economic consideration, it is advisable to ask for guarantees.

* APT FOR OPERATIONS OF CREDITS.

JMC

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.78

UK Pound

1

Rs.86.77

Euro

1

Rs.69.71

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.