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Report No. : |
312451 |
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Report Date : |
20.03.2015 |
IDENTIFICATION DETAILS
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Correct Name : |
DEMO S.A. PHARMACEUTICAL INDUSTRY |
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Registered Office : |
Athinon - Lamias National Rd, PO Box Postal Code: 14568, Athens, Attica |
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Country : |
Greece |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.01.1973 |
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Com. Reg. No.: |
13182/004/Β/86/139 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Engaged as manufacturer of Hospital Generics, specialized in the production of Iv Solutions, Antibiotics and OTC products as well as Pharmaceuticals Hospital Products ·
Engaged in dealing
with the production and trade of medicines and Medicated Products ·
Subject product portfolio
includes many injectable generic pharmaceutical formulations from
several therapeutic categories including: · Carbapenem Sterile Powders · Cephalosporin Sterile Powders · Freeze-Dried Formulations · Blow-Fill-Sealed Ampoules and Bottles · Parenteral Electrolyte Solutions · Oral Forms |
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No of Employees : |
600 (March 2015) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Greece |
B2 |
B2 |
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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 |
Greece ECONOMIC OVERVIEW
Greece has a capitalist economy with a public sector
accounting for about 40% of GDP and with per capita GDP about two-thirds that
of the leading euro-zone economies. Tourism provides 18% of GDP. Immigrants
make up nearly one-fifth of the work force, mainly in agricultural and
unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of
annual GDP. The Greek economy averaged growth of about 4% per year between 2003
and 2007, but the economy went into recession in 2009 as a result of the world
financial crisis, tightening credit conditions, and Athens' failure to address
a growing budget deficit. By 2013 the economy had contracted 26%, compared with
the pre-crisis level of 2007. Greece met the EU's Growth and Stability Pact
budget deficit criterion of no more than 3% of GDP in 2007-08, but violated it
in 2009, with the deficit reaching 15% of GDP. Austerity measures have reduced
the deficit to about 4% in 2013, including government debt payments.
Deteriorating public finances, inaccurate and misreported statistics, and
consistent underperformance on reforms prompted major credit rating agencies to
downgrade Greece's international debt rating in late 2009, and led the country
into a financial crisis. Under intense pressure from the EU and international
market participants, the government adopted a medium-term austerity program
that includes cutting government spending, decreasing tax evasion, overhauling
the health-care and pension systems, and reforming the labor and product
markets. Athens, however, faces long-term challenges to continue pushing
through unpopular reforms in the face of widespread unrest from the country's
powerful labor unions and the general public. In April 2010 a leading credit
agency assigned Greek debt its lowest possible credit rating; in May 2010, the
International Monetary Fund and Euro-Zone governments provided Greece emergency
short- and medium-term loans worth $147 billion so that the country could make
debt repayments to creditors. In exchange for the largest bailout ever
assembled, the government announced combined spending cuts and tax increases
totaling $40 billion over three years, on top of the tough austerity measures
already taken. Greece, however, struggled to meet 2010 targets set by the EU
and the IMF, especially after Eurostat - the EU's statistical office - revised
upward Greece's deficit and debt numbers for 2009 and 2010. European leaders
and the IMF agreed in October 2011 to provide Athens a second bailout package
of $169 billion. The second deal however, called for holders of Greek
government bonds to write down a significant portion of their holdings. As
Greek banks held a significant portion of sovereign debt, the banking system
was adversely affected by the write down and €41 billion of the second bailout
package was set aside to ensure the banking system was adequately capitalized.
In exchange for the second loan Greece promised to introduce an additional $7.8
billion in austerity measures during 2013-15. However, the massive austerity
cuts have prolonged Greece's economic recession and depressed tax revenues.
Throughout 2013, Greece's lenders called on Athens to step up efforts to
increase tax collection, dismiss public servants, privatize public enterprises,
and rein in health spending. In June 2013 Prime Minister Antonis SAMARAS's
efforts to meet bailout conditions led to the departure of one party, the
Democratic Left, from the governing coalition when his government made the
controversial decision to shut down and restructure the state-owned television
and radio company. Subsequent reluctance to institute further cuts and delays
in meeting public sector reform targets prompted Greek lenders to withhold
bailout fund disbursements until December 2013. However, investor confidence
began to show signs of strengthening by the end of 2013 as leading
macroeconomic indicators suggested the economy’s freefall had been arrested.
|
Source : CIA |
Registered Name DEMO S.A.
PHARMACEUTICAL INDUSTRY
Trade Name DEMO AE
Registered Address Athinon - Lamias
National Rd, PO Box Postal Code: 14568, Athens, Attica,
Greece
Telephone +30 2108161802
Fax +30 2108161587
E-mail info@demo.gr
Web Site www.demo.gr
Status Registered and
operational
Legal Type Limited Company
VAT Number 094041553
Registration No 13182/004/Β/86/139
Registration Date 01/01/1973
Start Date 01/01/1973
Years of Operation 42
Last return 18/03/2015
CINFO ID 23393156
Employees Mar
2015
Total Number 600
Assessment: Normal
Risk
Payment habits: No
complaints
Authorized Capital 0.00 EUR Asked 0.00
Nominal No Of Shares 0 Issued
No Of Shares 0
Nominal value 0.00 EUR Paid Up 34,388,484.00 EUR
|
Directors |
Position |
ID |
Occupation Age |
|
Alexopoulos, Antonios |
Director |
028883011 |
Financial
Director |
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Sta. Demos, Dimitrios |
Director |
062568184 |
Deputy
Chairman |
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Sta. Demou, Ioanna |
Director |
035134930 |
---- |
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Sta.
Demou, Stella |
Director |
035133539 |
--- |
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Sta.
Demou, Dimitra |
Director |
062192569 |
--- |
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Other
Relations |
Position |
ID |
|
Demos,
Stavros Dim. |
Chief
Executive Officer |
002747650 |
Shareholders ID/Reg.
No. Nationality
Sta. Demou, Dimitra 062192569 Greece
Demos, Stavros Dim. 002747650 Greece
Sta. Demou, Ioanna 035134930 Greece
Sta. Demou, Stella 035133539 Greece
Sta. Demos, Dimitrios 062568184 Greece
Activity Code Description
24.42 Manufacture
of pharmaceutical preparations
51.46 Wholesale
of pharmaceutical goods
The company is involved in as manufacturer of hospital generics, specialized in the production of Iv Solutions, Antibiotics and OTC products and pharmaceuticals-hospital products. Imports, exports and wholesale trade of medicines and medicated products
SECTOR: Pharmaceuticals
PRODUCTS: Medicines, Serums, vaccines, antihistamine,
OTC health products
Subject product portfolio includes many injectable generic
pharmaceutical formulations from several therapeutic categories including:
· Carbapenem Sterile Powders
· Cephalosporin Sterile Powders
· Freeze-Dried Formulations
· Blow-Fill-Sealed Ampoules And Bottles
· Parenteral Electrolyte Solutions
· Oral Forms
Export
to
Saudi
Arabia, Australia, China, Cyprus, Philippines, Hong Kong, UAE, Jordan, Iraq,
Iran (Islamic Republic Of), Israel, Lebanon, Malaysia, Oman, Tanzania, United Republic
Of, Thailand, Yemen, Guam, Vietnam, Trinidad and Tobago
Import
from
Belgium, Canada,
Spain, Switzerland
Banks |
Swift code |
|
PIRAEUS
BANK S.A. MAROUSSI,
Greece |
0172014 |
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PIRAEUS
BANK S.A. METAMORFOSI,
Greece |
0172084 |
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PIRAEUS BANK
S.A. KIFISSIA,
Greece |
0172024 |
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EFG
EUROBANK ERGASIAS S.A. EKALI,
Greece |
0260028 |
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NATIONAL
BANK OF GREECE S.A. PSYCHIKO,
Greece |
0110100 |
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ALPHA BANK KIFISSIA,
Greece |
0140121 |
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ALPHA BANK NEA
KIFISSIA, Greece |
0140117 |
Premises Date
Updated
Operates as: LAND m2: 13000, BUILDINGS m2: 15000 18/03/2015
Office
Owned
Agencies and Suppliers Country Relation
ELTON
INTERNATIONAL TRADING COMPANY S.A. Greece
Supplier
MERCK Switzerland
Supplier
SAINT
GOBAIN France
Supplier
According to our against the subject no negatives have been registered.
CONCLUSION
Our investigation
retrieved the following:
G.E.MI.: 000283801000
It was established in 1973, in Krioneri in Attica, resulting from the merge of DEMOS S. & CO E.E. and the sole proprietorship DEMOS STAVROS, under the name DEMO S.A., dealing with the production and trade of medicines and medicated products. Among subject`s plans are included the expansion of its exports and the establishment of subsidiaries abroad.
CERTIFICATION:
ISO 9001:2008
Please note that no information regarding the shareholders` equity was
provided.
Please note that the information provided in this report was obtained
from official and publicly available sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.42 |
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UK Pound |
1 |
Rs.92.99 |
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Euro |
1 |
Rs.67.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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.