MIRA
INFORM REPORT
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Report Date : |
12.11.2012 |
IDENTIFICATION DETAILS
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Name : |
INTERQUIM SA |
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Registered Office : |
Joan Buscalla, 10 Sant Cugat |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1978 |
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Com. Reg. No.: |
A08536476 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Manufacture of basic pharmaceutical products |
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No. of Employees : |
201 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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With Financials |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Spain |
A2 |
A2 |
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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 |
SPAIN - ECONOMIC OVERVIEW
Spain's mixed capitalist economy is the 13th largest in the
world, and its per capita income roughly matches that of Germany and France.
However, after almost 15 years of above average GDP growth, the Spanish economy
began to slow in late 2007 and entered into a recession in the second quarter
of 2008. GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and by
another 0.1% in 2010, before turning positive in 2011, making Spain the last
major economy to emerge from the global recession. The reversal in Spain''s
economic growth reflected a significant decline in construction amid an
oversupply of housing and falling consumer spending, while exports actually
have begun to grow. Government efforts to boost the economy through stimulus
spending, extended unemployment benefits, and loan guarantees did not prevent a
sharp rise in the unemployment rate, which rose from a low of about 8% in 2007
to over 20% in 2011. The government budget deficit worsened from 3.8% of GDP in
2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. Madrid
cut the deficit to 8.5% of GDP in 2011, a larger deficit than the 6% target
negotiated between Spain and the EU. Spain''s large budget deficit and poor
economic growth prospects have made it vulnerable to financial contagion from
other highly-indebted euro zone members despite the government''s efforts to
cut spending, privatize industries, and boost competitiveness through labor
market reforms. Spanish banks'' high exposure to the collapsed domestic
construction and real estate market also poses a continued risk for the sector.
The government oversaw a restructuring of the savings bank sector in 2010, and
provided some $15 billion in capital to various institutions. Investors remain
concerned that Madrid may need to bail out more troubled banks. The Bank of
Spain, however, is seeking to boost confidence in the financial sector by
pressuring banks to come clean about their losses and consolidate into stronger
groups
Source
: CIA
Company name and address
Interquim Sa
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Business
Description
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Manufacture of basic pharmaceutical products |
Industry
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Industry |
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ANZSIC 2006: |
1841 - Human Pharmaceutical and Medicinal Product
Manufacturing |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7186321
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7202535
Corporate Overview
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Corporate Structure News
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Interquim Sa |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Barcelona |
Spain |
Commercial Banks |
55.4 |
114 |
|
|
Subsidiary |
Barcelona |
Spain |
Biotechnology and Drugs |
479.4 |
1,050 |
|
|
Subsidiary |
Sant Cugat Del Valles, Barcelona |
Spain |
Biotechnology and Drugs |
93.6 |
201 |
|
|
Subsidiary |
Barcelona |
Spain |
Retail (Grocery) |
42.2 |
18 |
|
|
Subsidiary |
Barcelona |
Spain |
Retail (Grocery) |
5.6 |
7 |
|
|
Subsidiary |
El Papiol, Barcelona |
Spain |
Biotechnology and Drugs |
25.8 |
141 |
|
|
Subsidiary |
Beniel, Murcia |
Spain |
Chemical Manufacturing |
21.0 |
74 |
Executives Report
|
annual Profit & Loss
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
|
|
|
|
|
|
Charges |
88.4 |
51.7 |
64.6 |
|
Supplies |
39.7 |
19.0 |
28.5 |
|
Consumption of Raw
Materials |
39.2 |
18.7 |
28.4 |
|
Miscellaneous External
Expenditures |
0.5 |
0.4 |
0.1 |
|
Staff Costs |
14.7 |
7.6 |
8.1 |
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Wages and Salaries |
12.0 |
6.0 |
6.6 |
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Social Security Costs |
2.7 |
1.6 |
1.5 |
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Depreciation |
5.5 |
3.5 |
3.5 |
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Allowance for Trade Operations |
0.2 |
-0.4 |
0.6 |
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Stock Provision
Variation |
0.2 |
-0.4 |
0.6 |
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Variation of Other
Trade Provisions |
0.0 |
0.0 |
- |
|
Other Operating Charges |
28.6 |
20.6 |
19.8 |
|
External Services |
28.3 |
20.4 |
19.6 |
|
Taxes |
0.3 |
0.3 |
0.1 |
|
Operating Benefits |
3.2 |
3.9 |
9.3 |
|
Financials and Similar Charges |
0.8 |
0.7 |
0.5 |
|
Due to Liabilities
With Group Companies |
0.6 |
0.3 |
- |
|
Due to Other
Liabilities |
0.2 |
0.4 |
0.5 |
|
Changes in Financial Investment Provisions |
- |
- |
0.4 |
|
Exchange Losses |
- |
0.6 |
- |
|
Profit From Ordinary Activities |
2.7 |
3.0 |
9.0 |
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Changes in Provisions for Assets |
- |
- |
0.0 |
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Extraordinary Profit |
0.0 |
0.0 |
0.0 |
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Profit Before Taxes |
2.7 |
3.0 |
9.0 |
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Corporation Tax |
-1.0 |
0.0 |
3.3 |
|
Financial Year Result (Profit) |
3.8 |
3.0 |
5.6 |
|
Income |
92.1 |
54.7 |
70.3 |
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Net Total Sales |
89.1 |
50.0 |
63.1 |
|
Sales |
84.3 |
49.1 |
62.2 |
|
Rendering of Services |
4.8 |
0.9 |
0.9 |
|
Increase in Stocks |
2.5 |
4.2 |
5.2 |
|
Miscellaneous Operating Income |
0.1 |
0.1 |
1.5 |
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Auxiliary Income From
Current Management |
0.1 |
0.0 |
0.1 |
|
Grants |
0.0 |
0.1 |
- |
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Charges for Provisions |
- |
- |
1.4 |
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Income From Other Securities and Receivables |
0.3 |
0.0 |
0.1 |
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From Non-Group
Companies |
0.3 |
0.0 |
0.1 |
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Income From Miscellaneous Interests |
0.1 |
0.4 |
0.2 |
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From Group Companies |
0.0 |
0.2 |
0.1 |
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Miscellaneous
Interests |
0.1 |
0.0 |
0.0 |
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Profit on Financial
Investment |
- |
0.2 |
- |
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Gains from Exchange Rate |
0.0 |
- |
0.3 |
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Negative Financial Results |
0.4 |
0.9 |
0.3 |
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Capital Grants Transferred to Profit and Loss |
0.0 |
- |
- |
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Extraordinary Income |
- |
0.0 |
- |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Concessions, Patents,
Trademarks |
0.1 |
0.1 |
0.1 |
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Software |
0.0 |
0.0 |
0.1 |
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Total Intangible Fixed Assets |
0.1 |
0.2 |
0.2 |
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Land and Construction |
16.4 |
8.1 |
5.3 |
|
Technical
Installations and Machinery |
18.2 |
12.6 |
12.3 |
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Other Installations,
Tools, and Furniture |
1.6 |
1.1 |
1.1 |
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Tangible Fixed Assets
Under Construction |
1.4 |
4.9 |
4.7 |
|
Other Tangible Assets |
0.1 |
0.1 |
0.1 |
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Total Tangible Fixed Assets |
37.7 |
26.8 |
23.5 |
|
Investments in Group
Companies |
3.2 |
1.4 |
- |
|
Long-Term Securities
Portfolio |
- |
0.4 |
1.6 |
|
Other Receivables |
- |
- |
0.0 |
|
Long-Term Guarantees
and Deposits |
0.1 |
0.0 |
- |
|
Financial Investments |
3.3 |
1.8 |
1.6 |
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Total Fixed Assets |
41.1 |
28.8 |
25.2 |
|
Goods for Resale |
2.9 |
5.4 |
- |
|
Raw Materials and
Other Consumables |
11.7 |
- |
6.0 |
|
Goods in Process |
11.2 |
3.3 |
3.7 |
|
Finished Products |
14.7 |
14.7 |
8.1 |
|
Byproducts and
Recovered Materials |
0.0 |
0.0 |
0.2 |
|
Payments on Account |
1.0 |
0.0 |
0.2 |
|
Total Stocks |
41.6 |
23.5 |
18.2 |
|
Trade Debtors |
16.3 |
7.0 |
5.3 |
|
Receivables, Group
Companies |
2.9 |
2.4 |
3.0 |
|
Staff |
0.0 |
0.0 |
0.0 |
|
Public Bodies |
3.4 |
1.8 |
1.5 |
|
Total Debtors |
22.7 |
11.2 |
9.9 |
|
Receivables from Group
Companies |
2.5 |
4.9 |
4.1 |
|
Short-Term Securities
Portfolio |
1.2 |
1.4 |
- |
|
Other Receivables |
- |
- |
0.0 |
|
Short-Term Guarantees
and Deposits |
0.0 |
0.0 |
- |
|
Total Short-Term Investments |
3.7 |
6.3 |
4.1 |
|
Cash |
1.5 |
- |
0.2 |
|
Prepayments and Accrued Income |
0.1 |
0.0 |
0.0 |
|
Total Current Assets |
69.5 |
41.0 |
32.4 |
|
Total Assets |
110.6 |
69.8 |
57.7 |
|
Legal Reserve |
0.8 |
0.2 |
0.2 |
|
Miscellaneous Reserves |
64.0 |
31.6 |
26.7 |
|
Total Reserves |
64.8 |
31.9 |
26.9 |
|
Prior Year Losses |
-1.5 |
- |
- |
|
Profit or Loss Brought Forward |
-1.5 |
- |
- |
|
Profit or Loss for the Financial Year |
3.8 |
3.1 |
5.4 |
|
Total Equity |
77.5 |
36.2 |
33.4 |
|
Capital Grants |
0.0 |
- |
- |
|
Total Deferred Income |
0.0 |
- |
- |
|
Other Creditors |
- |
- |
0.0 |
|
Long-Term Payables to
Public Bodies |
1.2 |
1.7 |
2.1 |
|
Total Other Creditors |
1.2 |
1.7 |
2.1 |
|
Total Long Term Liabilities |
1.2 |
1.7 |
2.1 |
|
Loans and Other
Liabilities |
5.3 |
0.3 |
13.5 |
|
Total Amounts Owed to Credit Institutions |
5.3 |
0.3 |
13.5 |
|
Amounts Owed to Group
Companies |
15.6 |
23.6 |
2.6 |
|
Total Short-Term Amounts Owed to Group and
Associa |
15.6 |
23.6 |
2.6 |
|
Amounts Owed for
Purchases of Goods or Services |
8.2 |
6.9 |
4.9 |
|
Total Trade Creditors |
8.2 |
6.9 |
4.9 |
|
Public Bodies |
1.0 |
0.3 |
0.3 |
|
Miscellaneous Debts |
- |
0.0 |
0.0 |
|
Wages and Salaries
Payable |
1.7 |
0.8 |
0.8 |
|
Total Other Creditors |
2.7 |
1.1 |
1.2 |
|
Total Short Term Creditors |
31.8 |
31.9 |
22.2 |
|
Total Liabilities and Equity |
110.6 |
69.8 |
57.7 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
|
1 |
Rs.86.97 |
|
Euro |
1 |
Rs.69.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.