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Report No. : |
321398 |
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Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AVERSI-PARMA
SHPS |
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|
|
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Registered Office : |
Agmashenebeli Street 148/2 Old Tbilisi District Tbilisi 0112 |
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|
|
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Country : |
Georgia |
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Date of Incorporation : |
14.05.1999 |
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|
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Legal Form : |
Limited
Liability Company |
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|
|
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Line of Business : |
Trading
as importers, distributors and wholesalers of pharmaceutical products and
diagnostic equipment. |
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No. of Employee : |
510 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Lari
5,000,000 |
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|
|
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Georgia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
GEORGIA ECONOMIC OVERVIEW
Georgia's main economic activities include cultivation of agricultural products such as grapes, citrus fruits, and hazelnuts; mining of manganese, copper, and gold; and producing alcoholic and nonalcoholic beverages, metals, machinery, and chemicals in small-scale industries. The country imports nearly all of its needed supplies of natural gas and oil products. It has sizeable hydropower capacity that now provides most of its energy needs. Georgia has overcome the chronic energy shortages and gas supply interruptions of the past by renovating hydropower plants and by increasingly relying on natural gas imports from Azerbaijan instead of from Russia. Construction of the Baku-T'bilisi-Ceyhan oil pipeline, the South Caucasus gas pipeline, and the Kars-Akhalkalaki Railroad are part of a strategy to capitalize on Georgia's strategic location between Europe and Asia and develop its role as a transit point for gas, oil, and other goods. The expansion of the South Caucasus pipeline, as part of the Shah Deniz II Southern Gas Corridor project, will result in a $2 billion foreign investment in Georgia, the largest ever in the country. Gas from Shah Deniz II is expected to begin flowing in 2019. Georgia's economy sustained GDP growth of more than 10% in 2006-07, based on strong inflows of foreign investment and robust government spending. However, GDP growth slowed following the August 2008 conflict with Russia, and sunk to negative 4% in 2009 as foreign direct investment and workers' remittances declined in the wake of the global financial crisis. The economy rebounded in 2010-13, but FDI inflows, the engine of Georgian economic growth prior to the 2008 conflict, have not recovered fully. Unemployment has also remained high. Georgia has historically suffered from a chronic failure to collect tax revenues; however, since 2004 the government has simplified the tax code, improved tax administration, increased tax enforcement, and cracked down on petty corruption, leading to higher revenues. The country is pinning its hopes for renewed growth on a determined effort to continue to liberalize the economy by reducing regulation, taxes, and corruption in order to attract foreign investment, with a focus on hydropower, agriculture, tourism, and textiles production. The government has received high marks from the World Bank for its anti-corruption efforts. Since 2012, the Georgian Dream-led government has continued the previous administration's low-regulation, low-tax, free market policies, while modestly increasing social spending, strengthening anti-trust policy, and amending the labor code to comply with International Labor Standards. The government published its 2020 Economic Development Strategy in early 2014 and former Prime Minister Bidzina IVANISHVILI launched the Georgian Co-Investment Fund, a $6 billion private equity fund that will invest in tourism, agriculture, logistics, energy, infrastructure, and manufacturing. In mid-2014, Georgia signed an association agreement with the European Union, paving the way to free trade and visa-free travel.
|
Source
: CIA |
AVERSI-PARMA SHPS (CORRECT)
AVERSI PHARMA LTD (REQUESTED)
Street :
Agmashenebeli Street 148/2
Area :
Old Tbilisi District
Town :
Tbilisi 0112
Country :
Georgia
Telephone :
(995 32) 298 7860 ext. 129 (Chief Accountant) & 253 (Financial Director) /
291 1906 / 299 7970 / 225 0066 ext.115 (Logistics Department) / ext. 104 (Sales
Department) / Mobile (995 577) 790 479 (Aleksandr Janashia)
Fax :
(995 32) 291 1906
E-Mail : ketino@aversi.ge / info@aversi.ge
Website :
www.aversi.ge
Extended Name : Aversi-Parma Shazguduli
Pasukhismbgeblobis Sazagadoeba
English
Translation : Aversi - Pharma Ltd
Name
Position
1.
Irakli Purtseladze Managing
Director
2.
Nikoloz Ivliyanovich Kurtanidze Executive Director
3.
Aleksandr Janashia Financial Director
4.
Ketino Davidovna Nozadze (Mrs) Chief
Accountant
5.
Nona Korshvia Assistant to the Managing
Director
Total
Employees : 510 (subject)
4,300 (group)
No
complaints have been heard regarding payments from local suppliers or banks.
Subject
is a member of the Aversi Group, the largest pharmaceutical
group
in Georgia, operating since 1994. The Group has 35 per cent share of
pharmaceutical market of Georgia with its network of drug stores comprising
more than 160 pharmacies and 4 medical centres located around Georgia.
We
consider it is acceptable to deal with subject for LARGE amounts,
although
it is normal accepted practice for international suppliers
to
deal on secured terms with Georgian importers.
Opinion
on maximum credit : LARI 5,000,000
Trade
risk assessment : Normal
NAME :
BANK OF GEORGIA
Branch :
Pushkin St 3
Town :
Tbilisi 0107
Telephone : (995 32) 997 726
Fax :
(995 32) 997 726
Subject also has account with the following banks:
1.
TBC-Bank
Chavchavadze Ave 11
Tbilisi 380079
Tel: (995 32) 291 693
Fax: (995 32) 291 693
2.
Republic Bank JSC
Gr. Abashidze Street 2
Tbilisi 0179
Telephone: (995 32) 925 555
Fax
: (995 32) 925 544
3. Bazisbank
Rezo Tabukashvili
Street 37
Tbilisi 0177
Telephone:
(995 32) 298 4736 / 298 9597 / 298 6548
Fax
: (995 32) 298 6548
4. Procredit Bank JSC
Al. Kazbegi Avenue 21
Tbilisi 0160
Telephone: (995 32) 220 2222
Fax :
(995 32) 220 2223
Private
companies in Georgia are not required to publish or disclose balance sheets.
However, the subject interviewed offered the following information :
Sales
Turnover : LARI 193,000,000 - 2009 - exact
: LARI
204,000,000 - 2010 - exact
: LARI 208,600,000 - 2011 - exact
: LARI 210,000,000 - 2012 – exact
: LARI
212,000,000 - 2013 – exact
: LARI 243,000,000
– 2014 – exact
Net
Profit : LARI
30,000,000 – 2014 – exact
Total
Value of Stock Held : LARI 47,000,000 (as of 1 January 2015)
Financial
year ends 31 December.
Date
Started : 14 May 1999
History
: The subject
company was established in Georgia on 14 May 1999.
C.R.
No. : 5a/4-2134
Tax
No. : 211386695
Authorised
Capital : LARI 2,000
Paid-Up
Capital : LARI 2,000
Shazguduli
Pasukhismbgeblobis Sazagadoeba (limited liability company) with the following
director and shareholders :
Director
Irakli
Purtseladze
(Georgian
national / Personal No.: 01026002800)
Shareholders Percentage
1.
Paata Nikolayevich Kurtanidze 67%
(Georgian national / Personal No.:
01024002260)
2.
Nikoloz Ivliyanovich Kurtanidze 33%
(Georgian national / Personal No.:
60003003778)
Affiliated
companies of Aversi-Pharma ShPS :
Associates
1.
Aversi - Geofarm ShPS
Kostava Street 11
Dzveli District
Tbilisi
Managing Director: Gia Chigogidze
Est.: 18 August 1995
C.R. No.: 4/4-67
ID Code : 203834075
Shareholders:
- Paata Kurtanidze 67%
- Nikoloz Kurtanidze 33%
(Retail of pharmaceutical products)
2.
Aversi - Ratsional ShPS
Chirkhnauli Street 14
Tbilisi 0198
Managing Director: Malkhaz Kurtanidze
Est.: 11 January 2002
C.R. No.: 7/4-1961
ID Code : 208216107
Shareholders:
- Paata Kurtanidze 60%
- Nikoloz Kurtanidze 25%
- Malkhaz Kurtanidze 15%
(Manufacturer of pharmaceuticals)
3.
Aversi Klinik ShPS
V. Pshavela Avenue 27B
Tbilisi
Est. 2009
(Operator of a medical centre)
4.
Alfa ShPS
Bagrationi Street 6
Tbilisi
Est.: 2010
Subject’s
former affiliate :
Aversi
ShPS
(address
as per heading)
Tax
Code : 211752263
Statistics
Code : OKPO 20340175
The
Company is involved in the following activities :
Trading
as importers, distributors and wholesalers of pharmaceutical products and
diagnostic equipment.
NACE
Code: 4646
Imports
from Lithuania, Latvia, Estonia, Russia, Ukraine, Belarus,
Germany,
UK, Bulgaria, Hungary, Poland, France, Belgium, Italy,
Switzerland,
Serbia, Iceland, Finland, Turkey, Israel, India and USA.
Exports
to Armenia and Azerbaijan.
Overseas
suppliers include:
Actavis
International (Iceland)
Ahava
(Israel)
Asfarma
(Turkey)
Astellas
Pharma (Japan-Netherlands)
Bayer
Schering Pharma (Germany)
Berlin-Chemie
(Germany)
Biocodex
(France)
Boehringer
Ingelheim (Germany)
Rup
Borisovskiy Zavod (Belarus)
Borshagovsk
Chem. Pharm. Plant (Ukraine)
Brupharmexport
(Belgium)
Chephasaar
(Germany)
Darnitsa
(Ukraine)
Dr.
Theiss Naturwaren GmbH (Germany)
Fresenius
kabi Deutschland GmbH (Germany)
Farmila
- Thea Farmaceutical Spa (Italy)
F.
TRENKA (Austria)
Georg
Biosystem (Ukraine)
GlaxoSmithKline
(UK)
Grindex
(Latvia)
Hemofarm
(Serbia)
Hemoplast
(Ukraine)
Herbapol
(Poland)
Intas
(India)
Italfarmaco
(Italy)
Jugoremedia
(Serbia)
Kievmedpreparat
(Ukraine)
Kiev
Vitamin Factory (Ukraine)
Krasfarma
(Russia)
Lisapharma
(Italy)
Liqvor
(Armenia)
Microlife
(Switzerland)
Naturprodukt
(Poland)
Nizhpharm
(Russia)
Nycomed
(Austria)
Olainfarm
(Latvia)
Pfizer
(USA-Belgium)
Phitopharm
(Ukraine)
Polpharma
S.A. (Poland)
Rottapharm
(Italy)
Rusan
Pharma (India)
Sanofi
Aventis (France)
Santen
OY (Finland)
Solvey
Pharmaceutical (Switzerland)
Tonus-Elast
(Latvia)
Yuriya
Pharm (Ukraine)
Zdorovie
(Ukraine)
Ziololek
(Poland)
The Company has the following facilities :
Owned
premises comprising administrative offices, a wholesale outlet, one pharmacy
and warehousing facilities located at the heading address as well as another 3
warehouses located at Vazha-Pshavela Avenue 27B (Tbilisi), Tsinakhuli Street 14
(Tbilisi) and Kazbegi Street 16 (Tbilisi).
Agmashenebeli
Street 148/2
Old
Tbilisi District
Tbilisi
0112
You
enquired on : AVERSI PHARMA LTD. Please note that subject’s correct registered
name is as per heading.
Interviewed
: Ketino Davidovna Nozadze (Mrs) (Chief Accountant).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.70 |
|
|
1 |
Rs.98.92 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
|
|
Report Prepared
by : |
ANK |
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 |
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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 |
|
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 |
|
<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.