MIRA INFORM REPORT

 

 

Report Date :

15.01.2013

 

IDENTIFICATION DETAILS

 

Name :

ICONA SAN LUIS S.A.

 

 

Registered Office :

Maipú 1199, San Luís, Pcia.de San Luís, República

 

 

Country :

Argentina

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

11.02.1986

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacturing and Marketing of Agricultural Chemicals

 

 

No. of Employees :

35

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

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

(31.03.2012)

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   

 

ICONA SAN LUIS S.A.

CUIT No.: 30-62078526-8

 

 

Summary 

 

INCORPORATED IN 1986, BEGINNER OF ACTIVTIES, BALANCE SHEET AS 31/03/2010 LAST KNOWN, NO NEGATIVE ANTECEDENTS, APT FOR CURRENT CREDITS WITH GUARANTEES.

 

 

Operations 

  

AGRICULTURAL CHEMICALS
MANUFACTURING
MARKETING

 

 

Legal Structure 

 

Legal Form:                               Public Limited Company
Constituted:                               11/02/1986
Registered. R.P.de Business:     San Luis
Duration:                                   99 years
End of Fiscal Year:                    September 30

 

 

Contact 

 

Legal Address: Maipú 1199, San Luís, Pcia.de San Luís, República Argentina.

Operative and administrative address: Ruta Nacional No.7 y Ruta Provincial 14, Justo Daract, Pcia.de San Luís, República Argentina.

Phone: (54-02657) 480671

 

 

Partners 

  

PRESIDENT:                             FELIPE MAC LOUGHLIN
V. PRESIDENT:                         GENES YENADI
ALTERNATE DIRECTOR:           ANGEL OSCAR AROSTEGUI

Use of signature:                        President and V. President.

 

 

Corporate Stock 

 

History 

 

The mention that the owner is the beginner of the activities, being located in the addresses before mentioned.

The company has as main object the elaboration and commercialization of pesticides.

It is related to the company ICONA S.A., that responds to the same interest group.

 

Economic-Financial Position 

 

Balance Sheet as 31 March of 2010, last known.

ASSETS CURRENT                   $ 12.550.756

ASSETS NON CURRENT           $  1.134.221

TOTAL                                      $ 13.684.977

LIABILITIES CURRENT                $  4.369.268

NET WORTH                             $  9.295.709

TOTAL                                      $ 13.684.977

NET SALES                               $ 19.195.875

FINAL UTILITY                           $    260.007

ECONOMIC COMMENTARY:
--------------------
The above figures show normal position economic / financial, having closed the period with a profit of lean consideration.

At present the company is turning normally and broadly stable outlook assigned.

Sales for the year is higher by 12.8% compared to the previous period, although the end result was lower by 556.1%.

 

 

Balance Sheet 

  

Balance Sheet/s

31/03/2010

31/03/2009

Total Assets

$ 13.684.977,00

$ 11.342.413,00

Current Assets

$ 12.550.756,00

$ 9.091.418,00

Banks

$ 0,00

$ 0,00

Accounts Receivables

$ 0,00

$ 0,00

Inventory

$ 2.953.741,00

$ 2.134.742,00

Fixed Assets

$ 0,00

$ 0,00

Non-Current Assets

$ 1.134.221,00

$ 2.250.995,00

Investments

$ 0,00

$ 0,00

Total Liabilities

$ 4.389.268,00

$ 2.306.711,00

Current Liabilities

$ 4.389.268,00

$ 2.306.711,00

Non-Current Liabilities

$ 0,00

$ 0,00

StockHolders Equity

$ 9.295.709,00

$ 9.035.702,00

Net Sales

$ 19.195.875,00

$ 17.024.426,00

Cost of Good Sold

$ 17.224.226,00

$ 14.049.642,00

Gross Result

$ 1.971.649,00

$ 2.974.784,00

Administrative Expenses

$ 0,00

$ 0,00

Selling Expenses

$ 0,00

$ 0,00

Financial Income

$ 0,00

$ 0,00

Other Expenses

$ -1.711.642,00

$ -1.313.491,00

Final Result

$ 260.007,00

$ 1.661.293,00

 

Balance Sheet Analysis 

 

Indexes

31/03/2010

31/03/2009

Current Ratio

285,94 %

394,13 %

Quick Ratio

218,65 %

301,58 %

Short Term Indebtedness

47,22 %

25,53 %

Debt to Equity Ratio

47,22 %

25,53 %

Long Term Assets to Total Assets

8,29 %

19,85 %

Fixed Assets to Equity

0,00 %

0,00 %

Total Assets to Total Liabilities

311,78 %

491,71 %

Debt Ratio

32,07 %

20,34 %

Equity Ratio

67,93 %

79,66 %

Investments to Assets Ratio

21,58 %

18,82 %

Current Investment

91,71 %

80,15 %

Stocks Aging Days

62,59 días

55,46 días

Day Sales

0,00 días

0,00 días

Trade Debtors To Assets

0,00 %

0,00 %

Total Assets Turnover

140,27 %

150,10 %

Net Worth Aging

206,50 %

188,41 %

Fixed Assets Aging

Infinito %

Infinito %

Gross Profit

89,73 %

82,53 %

Financial Expenses on Sales Ratio

0,00 %

0,00 %

Commercial Exp. on Sales Ratio

0,00 %

0,00 %

Administrative Exp. on Sales Ratio

0,00 %

0,00 %

 

 

Assets 

 

The company is an owner of the real estate that occupies commercially, of extensive dimensions, to which  is assigned a good value of realization.

Evolution and Results 

 

The company is dedicated to the activities mentioned before, centralizing its operations in the address of the signs, where has conformed the necessary operating structure.  

At the front of the operations are its own responsible ones, with the collaboration of 35 employees.

MAIN SUPPLIERS:
---------------
ATANOR S.A.
CLARIANT S.A.

FOREIGN TRADE:
-----------------
In the last twelve months, it has made specific imports by u$s 1.410.346 according to the following detail:

POLONIA               1.341.395
UCRANIA                  68.951

* 35 EMPLOYEES

 

 

Branches 

 

Other units: Florida 537 piso 11º, Ciudad de Buenos Aires.
Phone: 4328 - 4019/4133
E.Mail: danielmartin@uniphos.com

 

 

Payment Record and Credit Risk 

 

BANCO DE GALICIA Y BS.AIRES S.A.
NUEVO BANCO DE SANTA FE
BANCO DE LA PCIA.DE BUENOS AIRES
BANCO DE LA NACION ARGENTINA

INSURANCE:
----------
FEDERACION PATRONAL

Credit Risk:
------------
NOVEMBER 2012

GALICIA 11/12 800 SITUATION 1

SITUATION 1: Normal fulfillment.

 

Concept 

 

There's no negative antecednets of any kind that could injure its commercial concept, and has been determined to through the  recent inquiries carried out, that maintains a correct commercial conduct in the attention of the general obligations assumed.  

* COMPLIANCE WITHOUT OBJECTIONS

 

 

Final Opinion 

 

We Consider that is a company to which is possible to relate in operations of credit, inside current sums in the conditions of practices.  

* FIT FOR CREDITS.

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.63

UK Pound

1

Rs.88.17

Euro

1

Rs.73.12

 

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%)

 

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.