MIRA
INFORM REPORT
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Report Date : |
17.09.2014 |
IDENTIFICATION DETAILS
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Name : |
FARMAGRO |
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Registered Office : |
Alfredo Mendiola
6068, Zona Industrial Molitalia,
Los Olivos |
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Country : |
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Date of Incorporation : |
29.08.1963 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Subject is engaged in formulation, import and trading of chemicals,
such as acaricides, agricultural fungicides,
herbicides, insecticides, nematicides, foliate
nutrients, public health and industrial hygiene products. |
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No of Employees : |
142 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 01, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Peru |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
PERU - ECONOMIC
OVERVIEW
Peru's economy reflects its varied topography - an arid lowland coastal region, the central high sierra of the Andes, the dense forest of the Amazon, with tropical lands bordering Colombia and Brazil. A wide range of important mineral resources are found in the mountainous and coastal areas, and Peru's coastal waters provide excellent fishing grounds. Peru is the world's second largest producer of silver and third largest producer of copper. The Peruvian economy has been growing by an average of 5.6% for the past five years with a stable exchange rate and low inflation, which in 2013 was just below the upper limit of the Central Bank target range of 1 to 3%. For the last three years, this growth was due partly to high international prices for Peru's metals and minerals exports, which account for almost 60% of the country's total exports. Despite Peru's strong macroeconomic performance, dependence on minerals and metals exports and imported foodstuffs makes the economy vulnerable to fluctuations in world prices. Peru's rapid expansion coupled with cash transfers and other programs have helped to reduce the national poverty rate by 28 percentage points since 2002, but inequality persists and continues to pose a challenge for the Ollanta HUMALA administration, which has championed a policy of social inclusion and a more equitable distribution of income. Poor infrastructure hinders the spread of growth to Peru's non-coastal areas. Peru's free trade policy has continued under the HUMALA administration; since 2006, Peru has signed trade deals with the US, Canada, Singapore, China, Korea, Mexico, Japan, the EU, the European Free Trade Association, Chile, Thailand, Costa Rica, Panama, Venezuela, concluded negotiations with Guatemala, and begun trade talks with Honduras and El Salvador, Turkey and the Trans-Pacific Partnership. Peru also has signed a trade pact with Chile, Colombia, and Mexico, called the Pacific Alliance, that rivals Mercosur. Since the US-Peru Trade Promotion Agreement entered into force in February 2009, total trade between Peru and the United States has doubled. Although Peru has continued to attract foreign investment, political activism and protests are hampering development of some projects related to natural resource extraction.
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Source
: CIA |
IDENTIFICATION
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CORRECT COMPANY NAME |
FARMAGRO S.A. |
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TAXPAYER REGISTRATION |
RUC 20100180210 |
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MAIN ADDRESS |
Alfredo Mendiola
6068, Zona Industrial Molitalia,
Los Olivos, |
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POSTAL CODE |
Lima, 39 |
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DEPT/PROV/REGION/STATE |
Lima / Lima |
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COUNTRY |
PERU |
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TELEPHONE |
(511) 6141500 - 5281145 - 5280865 |
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CORPORATE E-MAIL |
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WEB |
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COMMENTS |
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As a reference, the above-mentioned address is located near Panamericana Norte Km. 19.5Your order did not include any phone numbers.Additional E-mail: alara@farmagro.com.pe |
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EXECUTIVE SUMMARY
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Date of foundation |
1963 |
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Capital stock |
S/.11,276,000.= Nuevos
Soles |
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permanent employees |
142 |
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Chief Executive |
ROSALES RODRIGUEZ, GERARDO ANTONIO |
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Disposition |
FAIR |
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Credit (**) |
MODERATE RISK. (Acceptable financial
situation but limited). |
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Number of times that this company was
required: 17 |
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REPUTATION |
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NOTHING AGAINST COMPANY |
LEGAL STRUCTURE
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LEGAL STATUS |
Joint-Stock
Company |
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DATE OF INCORPORATION |
29AUG1963 |
STARTING DATE |
18/09/1963 |
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PLACE OF REGISTRY |
Lima |
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NOTARY OFFICE |
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DURATION |
Indefinite |
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REGISTRATION |
File
Card No.227, Page 235, Entry 1 (18/09/1963) |
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CURRENT PAID-IN CAPITAL |
S/.11,276,000.=
Nuevos Soles |
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CURRENT EXCHANGE RATE (US$) |
S/.2.85
per US$1.= Dollar |
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DIRECTORS - EXECUTIVES –
SHAREHOLDERS
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WHO IS WHO?
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VELASQUEZ
CABRERA, GILBERTO ANDRES |
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TITLE |
President |
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NATIONALITY |
Peruvian |
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ID |
DNI 08786489 |
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DOMICILE |
Calle B Mz C Lt, 19 |
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TAX ID |
10087864893 |
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RODRIGUEZ
BURMESTER, JULIO CESAR |
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TITLE |
Director |
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NATIONALITY |
Peruvian |
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RODRIGUEZ BURMESTER,
GILMER ARTURO |
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TITLE |
Director |
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NATIONALITY |
Peruvian |
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D.O.B. |
12MAR1974 |
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ID |
DNI 18132976 |
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TAX ID |
10181329764 |
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ASSOCIATED AS PER OUR DATABASE TO |
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ROSALES
RODRIGUEZ, GERARDO ANTONIO |
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TITLE |
General Manager |
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NATIONALITY |
Peruvian |
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D.O.B. |
05APR1970 |
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ID |
DNI 07871550 |
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CIVIL STATUS |
Married |
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DOMICILE |
Ricardo Palma 596 Dpto.
702, Miraflores, Lima / Lima |
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TAX ID |
10078715508 |
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CARRION LEON,
LUIS EDUARDO |
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TITLE |
Commercial Manager |
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NATIONALITY |
Peruvian |
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D.O.B. |
12FEB1952 |
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ID |
DNI 10610619 |
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PROFESSION |
Engineer |
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TAX ID |
10106106199 |
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JAIME GONZALES,
ARTURO DACIO |
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TITLE |
Assistant Manager |
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NATIONALITY |
Peruvian |
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ID |
DNI 10867625 |
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VELASQUEZ LOPEZ,
GILBERTO ANDRES |
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TITLE |
Shareholder |
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NATIONALITY |
Peruvian |
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D.O.B. |
06FEB1964 |
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ID |
DNI 08811230 |
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TAX ID |
10088112305 |
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BUSINESS HISTORY
Subject was founded by:- J.A. Benavides S.A.- Philips Peruana S.A.- José Guerra SoriaFARMAGRO S.A. is a Peruvian company, origin of which goes back to Philips Duphar, a Dutch company operating in Peru for over 60 years and represented by 5 lines of products. Philips Duphar, with the brand FARMAGRO in Peru, and thanks to the Dutch expert Eng. Martin Kortal, designed the commercial strategy for selling Philips Duphar products through distributors only.It is that FARMAGRO was incorporated on 29/08/1963 by taking over the Philips Duphar products to form its first portfolio of products, and in 1971 it became a national company: "FARMAGRO S.A.". Its initial shareholders were Gilberto Velazquez, Juan Seminario, andy Luis Morante. Then, in 1980, those shares controlled by Luis Morante were bought by Gilmer Rodriguez. In that time, subject built its formulation and division plant that is the largest of its kind nationwide. |
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BUSINESS
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SIC Classification |
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Main activity |
Subject is engaged in formulation, import and trading of chemicals, such as acaricides, agricultural fungicides, herbicides, insecticides, nematicides, foliate nutrients, public health and industrial hygiene products. At the same time, it provides formulation and liquid transferring services to third parties. |
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OPERATIONS |
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Import |
Yes |
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Country |
Belgium, China,
Colombia, Ecuador, India, Mexico, South Africa, Spain, Taiwan, Thailand, USA |
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ANNUAL Imports In US$ (CIF) |
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Export |
Yes |
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COUNTRY |
Ecuador |
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Annual exports in US$ (FOB) |
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% CASH SALES / METHOD |
60% |
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% Credit SALES / Terms |
40% (Drafts
payable at 45, 60, 75 days) |
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% DOMESTIC PURCHASES |
Yes |
% FOREIGN PURCHASES |
Yes |
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SELLING TerritorY |
100% (Domestic
market) |
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EMPLOYEES |
142 |
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Comments |
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Subject is a distributor of:- FARMAGRO S.A.- SYNGENTA- IMPROVEC- INNOVAK GLOBAL- FMC- DUPONT- BAYER CROPSCIENCE- POINT AMERICAS INC- LST LIVE SYSTEMS TECH- PILARQUIM CORP- NEDERAGRO- IPROCHEM COMPANY LTD.- FLAG- SABERO ORGANIC- UNITED PHOSPHORUS LTD.FARMAGRO S.A. has been granted ISO 14001:2004 Certification for its production processes.
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FINANCIAL INFORMATION
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Disposition |
Declined. Needed to know the requestor's
name. |
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Interviewee(s) |
Paola Bravo |
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Position(s) |
Accountant |
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Information provided |
It was tried several times to contact any of subject's representatives, but it was unsuccessful.It should be mentioned that the information contained in this report was collected from indirect sources (public and private sources, our files, etc.), where it was not found any complete balance sheets. It was only found out subject's turnover for the fiscal year 2012, which is included next to those for the previous fiscal years. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
FAIRAlthough no financial statements are available, it could be found out that subject has operated for over 5 years in the market and it is a big-sized company. It pays satisfactorily its bank debts. |
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Sales History in US$ (of Balance Sheet, statement of third
parties) |
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Main fixed assets of the company (general detail) |
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It was not possible to obtain any updated information on insurances.Based on previous collected information, it is known that subject had all-risk insurances through its broker EL PACIFICO PERUANO SUIZA CIA. DE SEGUROS. |
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TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS
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(Confidential Information) |
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TRADE REFERENCES |
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Note : Other suppliers
did not provide information or could not be consulted |
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It was not found any on protested documents, cancelled current accounts, cancelled credit cards, tax debts, pension-related debts with any pension fund administrators. |
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SUPERINTENDENCY OF BANK & INSURANCE (SBS) |
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Debt structure
for bank. SBS Latest Consolidated Credit Report as of : 31/07/2014 |
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CONSOLIDATED DEBT (ALL
BANKS) ENTITIES
NUMBER : 5 28/02/2013 |
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GENERAL INFORMATION
Explanation about commercial reputation
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.10 |
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UK Pound |
1 |
Rs.99.05 |
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Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.