MIRA INFORM REPORT

 

 

Report Date :

28.03.2013

 

IDENTIFICATION DETAILS

 

Name :

E.T.S. PHARMA LIMITED LIABILITY COMPANY

 

 

Registered Office :

Nagornyy pr., 12, bldg. 1, Moscow, 117105

 

 

Country :

Russian Federation

 

 

Financials (as on) :

01.01.2012

 

 

Date of Incorporation :

11.07.2002

 

 

Com. Reg. No.:

1027700020908

 

 

Legal Form :

OOO (Limited Liability Company by Russian Law)

 

 

Line of Business :

Wholesale trade in pharmaceutical preparations.

 

 

No. of Employees :

50 Approximately

 

RATING & COMMENTS

 

IRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Unknown

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)

Russian Federation

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

RUSSIA - ECONOMIC OVERVIEW

 

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a globally-isolated, centrally-planned economy to a more market-based and globally-integrated economy. Economic reforms in the 1990s privatized most industry, with notable exceptions in the energy and defense-related sectors. The protection of property rights is still weak and the private sector remains subject to heavy state interference. Russian industry is primarily split between globally-competitive commodity producers. In 2011, Russia became the world's leading oil producer, surpassing Saudi Arabia; Russia is the second-largest producer of natural gas; Russia holds the world's largest natural gas reserves, the second-largest coal reserves, and the eighth-largest crude oil reserves. Russia is the third-largest exporter of both steel and primary aluminum. Other less competitive heavy industries remain dependent on the Russian domestic market. Russia's reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the highly volatile swings in global commodity prices. The government since 2007 has embarked on an ambitious program to reduce this dependency and build up the country's high technology sectors, but with few results so far. The economy had averaged 7% growth in the decade following the 1998 Russian financial crisis, resulting in a doubling of real disposable incomes and the emergence of a middle class. The Russian economy, however, was one of the hardest hit by the 2008-09 global economic crisis as oil prices plummeted and the foreign credits that Russian banks and firms relied on dried up. According to the World Bank the government's anti-crisis package in 2008-09 amounted to roughly 6.7% of GDP. The Central Bank of Russia spent one-third of its $600 billion international reserves, the world's third largest, in late 2008 to slow the devaluation of the ruble. The government also devoted $200 billion in a rescue plan to increase liquidity in the banking sector and aid Russian firms unable to roll over large foreign debts coming due. The economic decline bottomed out in mid-2009 and the economy began to grow in the third quarter of 2009. However, a severe drought and fires in central Russia reduced agricultural output, prompting a ban on grain exports for part of the year, and slowed growth in other sectors such as manufacturing and retail trade. High oil prices buoyed Russian growth in 2011 and helped Russia reduce the budget deficit inherited from the lean years of 2008-09. Russia has reduced unemployment since 2009 and has made progress on reducing inflation since 2010. Russia's long-term challenges include a shrinking workforce, a high level of corruption, difficulty in accessing capital for smaller, non-energy companies, and poor infrastructure in need of large investments.

Source : CIA

 

Comments

 

 

Information

The address mentioned in your inquiry belongs to the company Obschestvo s ogranichennoy otvetstvennostyu "E.T.S. FARMA" (name in English: "E.T.S. PHARMA" LIMITED LIABILITY COMPANY). We provide the report on this company.

 

 

 

Summary

 

 

Original Name

Obschestvo s ogranichennoy otvetstvennostyu "E.T.S. FARMA"

Legal Form

OOO (Limited Liability Company by Russian Law)

Year of Foundation

2000

Sales

253 959 th RUR for 12 months, ended 01.01.2012

Employees

50 (approx.) on March, 26, 2013 (company's data)

 

 

 

 

Company Identification Details

 

 

Original Name

Obschestvo s ogranichennoy otvetstvennostyu "E.T.S. FARMA"

Short Name

OOO "E.T.S. FARMA"

Name in English

"E.T.S. PHARMA" LIMITED LIABILITY COMPANY

Address

Nagornyy pr., 12, bldg. 1, Moscow, 117105, Russian Federation

Legal Address

Kutuzovskiy prosp., 36, bldg. 3, office 46, Moscow, 121170, Russian Federation

Phone

+7 (495) 5029001

Fax

+7 (495) 5141811

E-mail

5029001@mail.ru

WEB Address

www.agio-pharma.com

 

 

 

Official Company Data

 

 

Legal Form

OOO (Limited Liability Company by Russian Law)

Date of Registration

11.07.2002

Registration Number

1027700020908

Statistic Code (OKPO)

52639444

Taxpayer Code (INN)

7730124019

Registration Authority

Ministry for Taxes and Duties of Russian Federation

 

 

 

Public Record Information

 

 

Information

The company Obschestvo s ogranichennoy otvetstvennostyu "E.T.S. FARMA" was not included in the published list of bankrupt companies.

 

 

 

Share Capital

 

 

Current Share Capital

10 000 RUR

 

 

 

Shareholders

 

 

Total

1 legal person

 

 

Shareholder

AGIO PHARMACEUTICALS LTD.

Address

British Indian Ocean Territory

Registration Number

96378

Share

100 %

 

 

 

Directors

 

 

Director

Ms Kharchevnikova Svetlana Evgen'evna

 

Signature Right

Nationality

Russian Federation

 

 

 

Re-Registration Data

 

 

Initial Registration

24.02.2000

Registration Number

095044

Registration Authority

Moscow Register Chamber

 

 

Date of Registration

11.07.2002

 

(Entering into the Single State Register of Legal Entities)

Registration Number

1027700020908

Registration Authority

Ministry for Taxes and Duties of Russian Federation

 

 

Date of Re-registration

12.11.2009

File Number

6097748799351

Registration Authority

Federal Tax Service of Russian Federation

Changes

Company's Rules

 

 

Date of Re-registration

09.12.2009

File Number

8097748081236

Registration Authority

Federal Tax Service of Russian Federation

Changes

Company's Rules

 

Operations

 

 

Activities

Wholesale trade in pharmaceutical preparations.

The company sells the production of the company AGIO PHARMACEUTICALS LTD.

 

 

Staff Employed

50 (approx.) on March, 26, 2013 (company's data)

 

 

 

Real Estate

 

 

Own

none

 

 

Rent

Office, warehouse
Address: Nagornyy pr., 12, bldg. 1, Moscow, 117105, Russian Federation
(company's data)

 

 

 

Export & Import

 

 

Export Countries

2009-2011, for 9 months 2012: No Export Activity

Exported Goods

none

Export Value

none

 

 

Import Countries

2010-2011, for 9 months 2012: India
2009: India, Finland

Imported Goods

pharmaceutical preparations, packing

Import Value

for 9 months 2012: 4 470 792 USD
in 2011: 4 843 976 USD
in 2010: 5 320 984 USD
in 2009: 6 048 585 USD

 

 

 

Branches

 

 

Branch

None

 

 

 

Participation

 

 

Information

None

 

 

 

Related Companies

 

 

Information

The company AGIO PHARMACEUTICALS LTD. isn't a shareholder of any other companies in Russian Federation.

Ms Kharchevnikova Svetlana Evgen'evna isn't a shareholder or a director of any other companies in Russian Federation.

 

 

 

Bankers

 

 

Bank

ZAO "KOROLEVSKIY BANK SHOTLANDII", bank code: 044525217 (Russian Federation)

Account(s)

40702810800005214394 (RUR)

 

 

Bank

ZAO "RAYFFAYZENBANK" (Russian Federation)

 

 

 

Financial Data

 

 

Profit and Loss (extract)

 

The following figures are shown in units of 1000

 

 

Period, months

12

12

12

12

Ended

01.01.2012

01.01.2011

01.01.2010

01.01.2009

Currency

RUR

RUR

RUR

RUR

SALES

253959

197393

230784

210452

Cost of Goods sold

222637

180016

196721

190885

GROSS PROFIT

31322

17377

34063

19567

Distribution Costs

26376

18631

17601

23278

Management Costs

 

 

 

 

OPERATING PROFIT

4946

-1254

16462

-3711

Non Trading Income

-19053

-7935

-11185

-8913

PRE TAX PROFIT

-14107

-9189

5277

-12624

Taxation

 

 

 

 

PROFIT AFTER TAX

-14107

-9189

5277

-12624

 

Balance Sheet (extract)

 

The following figures are shown in units of 1000

 

As at

01.01.2012

01.01.2011

01.01.2010

01.01.2009

Currency

RUR

RUR

RUR

RUR

TOTAL FIXED ASSETS

134

368

713

1323

 Intangible Assets

 

 

 

 

 Fixed Assets

134

368

713

1323

TOTAL CURRENT ASSETS

102094

113501

119724

76617

 Stock

36920

39117

40046

29162

 Trade debtors

64225

70879

74290

46794

 Cash

462

3504

5387

429

TOTAL ASSETS

102228

113870

120437

77940

 

 

 

 

 

TOTAL EQUITY

-48809

-33867

-24879

-30158

 Share Capital

10

10

10

8

 Retained Profits

-48819

-33877

-24889

-30166

TOTAL LONG TERM LIABS

30585

29171

 

 

 Long Term Loans

30585

29171

 

 

TOTAL CURRENT LIABS

120452

118566

145316

108098

 Short Term Loans

 

 

 

 

 Short Term Trade Creditors

120452

118566

145316

108098

TOTAL EQUITY & LIABS

102228

113870

120437

77940

 

Key Credit Ratios

 

The following figures are shown as Ratios or Percentages

 

Accounts Date

01.01.2012

01.01.2011

01.01.2010

01.01.2009

Current Ratio

0,85

0,96

0,82

0,71

Working Capital, x1000 RUR

-18358

-5065

-25592

-31481

Quick Ratio

0,54

0,63

0,55

0,44

Debt to Equity Ratio

-3,09

-4,36

-5,84

-3,58

Current Assets Turnover

2,49

1,74

1,93

2,75

Total Assets Turnover Ratio

2,48

1,73

1,92

2,7

Pre Tax Profit Margin, %

-5,55

-4,66

2,29

-6

Gross Profit, %

12,33

8,8

14,76

9,3

Return on Investment, %

28,9

27,13

-21,21

41,86

Return on Assets, %

-13,8

-8,07

4,38

-16,2

 

 

 

Clients & Suppliers

 

 

Clients

ZAO "SIA INTERNEYSHNL LTD" (Russian Federation)

ZAO "DOMINANTA-SERVIS" (Russian Federation)

OOO "ORTO-FARMA N" (Russian Federation)

OOO "FK PUL'S" (Russian Federation)

OOO "ASTERA FARM" (Russian Federation)

ZAO "ARAL PLYUS" (Russian Federation)

ZAO "APTEKA-KHOLDING" (Russian Federation)

OOO "MOSSTROYREKONSTRUKTSIYA" (Russian Federation)

OOO "REMSTROYPROEKT" (Russian Federation)

OOO "NIKSAN-M" (Russian Federation)

 

 

Suppliers

AGIO PHARMACEUTICALS LTD. (India)

KOTHARI PRODUCTS SINGAPORE PTE. LTD. (Singapore)

EMFOR INTERNATIONAL LTD. (United Arab Emirates)

NEW DELUXE LOGISTICS PVT. LTD. (India)

CIPLA LIMITED (India)

OOO "AVESTA F" (Russian Federation)

FGU "TSENTR SERTIFIKATSII" (Russian Federation)

OOO "DIALAN" (Russian Federation)

OOO "IRIDIUM" (Russian Federation)

OOO "NORD-IMPEKS" (Russian Federation)

OOO "FOTOEKSIM" (Russian Federation)

OOO "ELART" (Russian Federation)

OOO "METRO KESH END KERRI" (Russian Federation)

OOO "SERVIS-TERMINAL" (Russian Federation)

ZAO "DOMODEDOVO-TERMINAL" (Russian Federation)

OAO "MEZHREGIONAL'NYY TSENTR SERTIFIKATSII" (Russian Federation)

*** The names of foreign partners may be pointed incorrectly as in official documents (declarations) they’re written in Russian. We present our apologies for possible mistakes in transliteration.

 

 

 

 

Actions at law

 

 

The information of Arbitration court of Moscow about judicial claims is presented

 

Date of registration

03.12.2009

Registration number

A40-162177/2009

Plaintiff

OOO "E.T.S. FARMA"

Defendant

ZAO "ZETA-FARM"

Claim sum

1 596 114 RUR

Claim category

Default of obligations under the contract

 

 

 

Original Financial Data

(Russian Accounting Report in English)

 

Balance Sheet

 

The following figures are shown in units of 1000

 

The following figures are shown in units of 1000

 

 
ASSETS

Line code

as at
01.01.2010

as at
01.01.2011

as at
01.01.2012

 

 

 

 

 

I. NON-CURRENT ASSETS

 

 

 

 

Intangible assets

110

-

-

-

Fixed assets

120

713

368

134

Construction in progress

130

-

-

-

Income-bearing investments in tangible assets

135

-

-

-

Long-term financial investments

140

-

-

-

Deferred tax assets

145

-

-

-

Other non-current assets

150

-

-

-

Total section I

190

713

368

134

II. CURRENT ASSETS

 

 

 

 

Inventories

210

40046

39117

36920

including :

 

 

 

 

 raw materials and other inventories

211

290

436

-

 livestock

212

-

-

-

 work in progress

213

-

2

-

 finished goods and goods for resale

214

39602

38525

-

 goods dispatched

215

-

-

-

 expenses related to future periods

216

154

155

-

 other supplies and expenditures

217

-

-

-

Value added tax on purchased goods

220

1

1

262

Accounts receivable (payments expected beyond 12 months after the reporting date)

230

-

-

-

including :

 

 

 

 

 buyers and customers

231

-

-

-

Accounts receivable (payments expected within 12 months after the reporting date)

240

74290

70879

64225

including :

 

 

 

 

 buyers and customers

241

62979

57398

-

Short-term investments

250

-

-

-

Monetary assets

260

5387

3504

462

Other current assets

270

-

-

225

Total section II

290

119724

113501

102094

TOTAL SECTIONS I and II

300

120437

113870

102228


 


 


 


 


 

EQUITY AND LIABILITIES

 

 

 

 

 

 

 

 

 

III. EQUITY AND RESERVES

 

 

 

 

Share capital

410

10

10

10

Treasury shares

411

-

-

-

Additional capital

420

-

-

-

Legal reserve

430

-

-

-

including :

 

 

 

 

 reserves and provisions formed in
 accordance with legislation

431

-

-

-

 reserves formed in accordance
 with foundation documents

432

-

-

-

Retained earnings (loss)

470

-24889

-33877

-48819

Total section III

490

-24879

-33867

-48809

IV. NON-CURRENT LIABILITIES

 

 

 

 

Borrowings

510

-

29171

30585

Deferred tax liabilities

515

-

-

-

Other non-current liabilities

520

-

-

-

Total section IV

590

-

29171

30585

V. CURRENT LIABILITIES

 

 

 

 

Borrowings

610

-

-

-

Accounts payable

620

145316

118566

120452

including :

 

 

 

 

 suppliers and contractors

621

141858

113309

-

 salaries payable

622

-

56

-

 payable to state non-budget funds

623

2

55

-

 taxes payable

624

81

109

-

 other creditors

625

3374

5037

-

Dividends payable to participants (shareholders)

630

-

-

-

Income of future periods

640

-

-

-

Reserves for future expenses
and payments

650

-

-

-

Other current liabilities

660

-

-

-

Total section V

690

145316

118566

120452

TOTAL SECTIONS III,IV,V

700

120437

113870

102228

 

PROFIT AND LOSS ACCOUNT

 

The following figures are shown in units of 1000

 

 
PARAMETER

Line code

 
01.01.2012

 
01.01.2011

 
01.01.2010

 

 

 

 

 

INCOME FROM AND EXPENSES ON ORDINARY ACTIVITIES

 

 

 

 

Sale of goods, products, work, services (less VAT, excise tax, other similar mandatory payments)

010

253959

197393

230784

Cost of goods, products, work, services sold

020

222637

180016

196721

Gross profit

029

31322

17377

34063

Selling expenses

030

26376

18631

17601

Administrative expenses

040

-

-

-

Profit (loss) from operations

050

4946

-1254

16462

OTHER INCOME AND EXPENSES

 

 

 

 

Interest income

060

-

-

-

Interest expenses

070

-

-

-

Income from investments in other companies

080

-

-

-

Other operating income

090

28455

26139

27890

Other operating expenses

100

47508

34074

39075

Non-operating income

120

-

-

-

Non-operating expenses

130

-

-

-

Profit (loss) before profit tax

140

-14107

-9189

5277

Deferred tax assets

141

-

-

-

Deferred tax liabilities

142

-

-

-

Current profit tax

150

-

-

-

Net profit (loss) for the reporting period

190

-14107

-9189

5277

 

 

Rates of Exchange

 

 

RUR - Russian Rouble

01.01.2012:   1 EUR = 41.67 RUR,   1 USD = 32.19 RUR

EUR - EURO

01.01.2011:   1 EUR = 40.49 RUR,   1 USD = 30.35 RUR

USD - US Dollar

01.01.2010:   1 EUR = 43.46 RUR,   1 USD = 30.19 RUR

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.27

UK Pound

1

Rs.82.49

Euro

1

Rs.69.88

 

 

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.