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Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNIFARMA S.A. |
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Registered Office : |
Céspedes 3857 (C1427EAG), Buenos, Aires City |
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Country : |
Argentina |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
24.11.1976 |
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|
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Com. Reg. No.: |
57.264 |
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Legal Form : |
Corporation |
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|
|
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Line of Business : |
import and commercialization
of drugs, such as · Amino acids analgesics
- anti-inflammatories Antibacterial Antibiotics Corticosteroid Cardiologic
line Dermatological
line(antimycotic) Neurological
line Ophthalmic
line Oncological
line Vitamins |
|
|
|
|
No. of Employees : |
60 |
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 |
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|
|
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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 an
unprecedented 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 - at the time the largest ever - 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 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 in 2010 rebounded strongly from the 2009 recession, but
has slowed since late 2011 even as the government continued to rely on
expansionary fiscal and monetary policies, which have kept inflation in the
double digits. The government expanded state intervention in the economy
throughout 2012. In May the Congress approved the nationalization of the oil
company YPF from Spain's Repsol. The government expanded formal and informal
measures to restrict imports during the year, including a requirement for pre-registration
and pre-approval of all imports. In July the government also further tightened
currency controls in an effort to bolster foreign reserves and stem capital
flight.
|
Source : CIA |
UNIFARMA S.A.
CUIT: 30-56828209-0
BEGINNER OF ACTIVITIES. INCORPORATED IN 1977. BALANCE SHEET AS OF 31/03/2012: IDEAL ECONOMIC-FINANCIAL SITUATION WITH A POSITIVE FINAL PROFITABILITY. FIT FOR OPERATIONS OF CURRENT IMPORTANCE WITH THE ADOPTION OF APPROPRIATE GUARANTEES.
DRUGS
COMMERCIALIZATION
Business type: Corporation
Incorporated: 24/11/1976
Registered: 16/08/1977
Register #:
57.264
Duration: Until
15/08/2027
End of fiscal year: March
31st
Legal, Operative and Administrative address: Céspedes 3857 (C1427EAG), Buenos
Aires City,
Argentine Republic.
Phone: (54-011)
5218-0600
Fax: (54-011)
5218-0696
E-mail: unifarma@cheminet.com.ar
Website: www.unifarma.com.ar
President: DI
LAUDADIO MAURICIO
Vice-president: SANCHEZ
CARCA MARIA ETELVINA
Director: DI
LAUDADIO FERNANDO
The first two mentioned ones, as Managers, are in charge of the management and administration of the company, with the use of the social signature.
The share capital of the company is established in the
amount of $ 215,503.92 has been fully subscribed and realized, represented by the same number of
shares, non-endorsable, of v / n. $ 1.00 each entitled to one vote per share.
While not into detail on this subject is our understanding that this
capital is contributed by the members of its board.
DI LAUDADIO MAURICIO:
Italian, married, born on 19/12/1943, DNI. 93.337.791, with address in
O´Higgins 1949, piso 12º, Buenos Aires City.
He is registered in
the following companies:
> DILI S.A. President
> FZ INMOBILIARIA S.A. President
SANCHEZ CARCA MARIA
ETELVINA:
Argentinian, married to the aforementioned, born on 28/04/1947, LC 5.645.327
(CUIT. 27-05645327-5), with same address than her husband.
She is registered as Director of the same companies than her husband.
According to our registered information, the company is beginner of activities and its original domicile was in Tte.Gral.Juan D.Perón 1475/79, Buenos Aires City, moving in 2004 to the current one. It isn’t known if it is member of any economic group or of its directors work in other companies which weren't mentioned.
We detail in this information figures Balances held at March 31, 2011
and March 31, 2012, just before we leave the comparison, expressed in the
currency of our country.
CHANGE THE DATE OF THIS INFORMATION: 1 USD = $ 5.75 OFFICIAL. -
Based on the figures to drop the latest balance sheet, we see that to a close there was good relationship between its assets and liabilities. -
It shows a significant level of sales in 2012 of $ 103,418,865 against $
87,193,293 in 2011, with a good final result of 2012 of $ 8,493,879. -
Balance Sheet/s 31/03/2012
31/03/2011
Total Assets $
73.380.847,00 $ 68.574.076,00
Current Assets $
69.874.624,00 $ 65.182.869,00
Banks $
0,00 $ 0,00
Accounts Receivables $
45.836.263,00 $ 40.279.775,00
|
Inventory |
$ 24.038.361,00 |
$ 24.903.094,00 |
|
|
Fixed
Assets |
$ 0,00 |
|
$ 0,00 |
|
Non-Current
Assets |
$ 3.506.223,00 |
$ 3.391.207,00 |
|
|
Investments |
$ 0,00 |
|
$ 0,00 |
|
Total
Liabilities |
$ 27.481.570,00 |
$ 27.568.678,00 |
|
|
Current
Liabilities |
$ 27.481.570,00 |
$ 27.568.678,00 |
|
|
Non-Current
Liabilities |
$ 0,00 |
|
$ 0,00 |
|
StockHolders
Equity |
$ 45.899.277,00 |
$41.005.398,00 |
|
|
Net Sales |
$ 103.418.865,00 |
$ 87.193.293,00 |
|
|
Cost of
Good Sold |
$ 71.246.225,00 |
$ 59.602.792,00 |
|
|
Gross
Result |
$ 32.172.640,00 |
$ 27.590.501,00 |
|
|
Administrative
Expenses |
$ 11.988.866,00 |
|
$ 5.738.137,00 |
|
Selling
Expenses |
$ 1.876.271,00 |
|
$ 6.240.789,00 |
|
Financial
Income |
$ 0,00 |
|
$ 0,00 |
|
Other
Expenses |
$ -9.813.624,00 |
$ -7.868.388,00 |
|
|
Final
Result |
$ 8.493.879,00 |
|
$ 7.743.187,00 |
Balance Sheet
Analysis
|
Indexes |
31/03/2012 |
31/03/2011 |
||
|
Current Ratio |
254,26 % |
|
236,44 % |
|
|
Quick Ratio |
166,79% |
|
146,11 % |
|
|
Short Term Indebtedness |
59,87% |
|
67, 23 % |
|
|
Debt to Equity Ratio |
59,8% |
|
67, 23 % |
|
|
Long Term Assets to Total
Assets |
4,78 % |
|
4,95 % |
|
|
Fixed Assets to Equity |
0,00 % |
|
0,00 % |
|
|
Total Assets to Total
Liabilities |
267,02 % |
|
248,74 % |
|
|
Debt Ratio |
37,45 % |
|
40,20 % |
|
|
Equity Ratio |
62,55 % |
|
59,80 % |
|
|
Investments to Assets
Ratio |
32,76 % |
|
36,32 % |
|
|
Current Investment |
95,22 % |
|
95,05 % |
|
|
Stocks Aging Days |
123,15 dias |
152,50 dias |
||
|
Day Sales |
161,77 dias |
168,62 dias |
||
|
Trade Debtors To Assets |
62,46 % |
|
58,74 % |
|
|
Total Assets Turnover |
140,93 % |
|
127,15 % |
|
|
Net Worth Aging |
225,32 % |
|
212,64 % |
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|
Fixed Assets Aging |
Infinito |
|
Infinito |
|
|
Gross Profit |
68,89 % |
|
68,36 % |
|
|
Financial Expenses on
Sales Ratio |
0,00 % |
|
0,00 % |
|
|
Commercial Exp. on Sales Ratio |
1,81 % |
|
7, 16 % |
|
|
Administrative Exp. on Sales Ratio |
11,59 % |
|
6,58 % |
|
REAL ESTATE:
------------
Within the fixed assets of the company, the property is included seat of
his
efforts, realization of significant value.
Not allowed to make contact with the deed, and verifying that the same
is free
from encumbrances.
VEHICLES:
----------
2 vans Renault Traffic (no details were obtained).
Parent/Related Companies
RELATED COMPANIE:
-----------------
DILI S.A.
FZ INMOBILIARIA S.A.
It is a company of reasonable importance on its sector which performs
the import and commercialization of drugs, such as:
> Amino acids
> analgesics - anti-inflammatories
> Antibacterial
> Antibiotics
> Corticosteroid
> Cardiologic line
> Dermatological line(antimycotic)
> Neurological line
> Ophthalmic line
> Oncological line
> Vitamins
It operates in the previously exposed address, with an appropriate-sized
building used by its administrative offices, exhibition and sales area,
warehouse, etc., being managed by the main directors together with the
necessary staff.
It carries out imports from Brazil, China and India, not being known its
incursion in the export market.
* 60 EMPLOYEES
NATIONAL SUPPLIERS:
-------------------
ALFARMA S.A.
DR.REDDY´S
FOREIGN TRADE:
--------------
It should be noted that foreign trade, the holder does not import
transactions recorded in the last twelve months.
BANKS:
------
BANCO DE LA PCIA.DE BS.AIRES Branch: Chacarita
BANCO CREDICOOP COOP.LTDO. Branch: Almagro
BANCO SUPERVIELLE Principal Office
HSBC BANK ARGENTINA Principal Office
CREDIT RISK:
------------
July 2013
BANCO CREDICOOP.................................4.102.100
BANCO SUPERVIELLE...............................2.101.200
BANCO PROV. BUENOS AIRES........................ 3.500
Situation 1: Normal Fulfillment.
INSURANCE:
----------
ROYAL SUN ALLIANZ
Concept
Keep the headline linked to a number of firms supplying the industry it
serves,
many of which assist it in its current credit needs, without objections
until
payment methods it supports.
* FULFILLMENT: NOT OBJECTED
Based on what revealed in the course of this review, it is understood
that current sums importance the credit relationship with the owner
continues to remain
viable.
* SUITABLE FOR CURRENT OPERATIONS OF IMPORTANCE.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.14 |
|
UK Pound |
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.84.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.