|
|
|
MIRA INFORM REPORT
|
Report No. : |
496179 |
|
Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SIDUS S.A. |
|
|
|
|
Registered Office : |
Dardo Rocha 944 Piso: Dpto:1 Martinez
1640-Buenos Aires |
|
|
|
|
Country : |
Argentina |
|
|
|
|
Financials (as on) : |
2016 |
|
|
|
|
Date of Incorporation : |
15.12.1959 |
|
|
|
|
Legal Form : |
Sociedad Anonima |
|
|
|
|
Line of Business : |
Subject is dedicated to the manufacture of medicinal products for human
use and pharmaceutical products. |
|
|
|
|
No. of Employees : |
430 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Argentina |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. In 2016, the World Bank downgraded Argentina from a high-income to upper-middle-income economy, on par with Columbia.
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 below 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, 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 slowed in late 2011 even as the government continued to rely on expansionary fiscal and monetary policies, which kept inflation in the double digits.
In order to deal with these problems, the government expanded state intervention in the economy: it nationalized the oil company YPF from Spain's Repsol, expanded measures to restrict imports, and further tightened currency controls in an effort to bolster foreign reserves and stem capital flight. Between 2011 and 2013, Central Bank foreign reserves dropped $21.3 billion from a high of $52.7 billion. In July 2014, Argentina and China agreed on an $11 billion currency swap; the Argentine Central Bank has received the equivalent of $3.2 billion in Chinese yuan, which it counts as international reserves.
With the election of President Mauricio MACRI in November 2015, Argentina began a historic political and economic transformation, as his administration took steps to liberalize the Argentine economy, lifting capital controls, floating the peso, removing export controls on some commodities, cutting some energy subsidies, and reforming the country’s official statistics. Argentina negotiated debt payments with holdout bond creditors and returned to international capital markets in April 2016. In September 2016, Argentina completed its first IMF Article IV Consultation since 2006.
After years of international isolation, Argentina took on several international leadership roles in 2017, including hosting the World Economic Forum on Latin America and the World Trade Organization Ministerial Conference, and is set to assume the presidency of the G-20 in 2018.
|
Source
: CIA |
STATUTORY
INFORMATION
|
Legal Name: |
SIDUS S.A. |
|
Trade Name: |
SIDUS S.A |
|
CUIT: |
30-50131701-9 |
|
Date Created: |
1959 |
|
Date Incorporated: |
15-12-1959 |
|
Legal Address: |
DARDO ROCHA 944 Piso: Dpto:1 MARTINEZ 1640-BUENOS AIRES |
|
Operative Address: |
Dardo Rocha 944 Martinez, 1640 Argentina |
|
Telephone: |
54-1147966800 |
|
Fax: |
54 1147976754 |
|
Legal Form: |
SOCIEDAD ANONIMA |
|
Email: |
Eduardo.viduido@sidus.com.ar |
|
Registered in: |
ARGENTINA |
|
Website: |
www.sidus.com.ar |
|
Contact: |
Marcelo Luis Argüelles Ugarteburu, President |
|
Staff: |
430 |
|
Activity: |
Pharmaceutical Manufacturing |
|
|
|
|
Banks: |
|
|
BANK |
AMOUNT IN AR$ |
|
|
|
|
BANCO CMF S.A. |
41259 |
|
BANCO SUPERVIELLE S.A. |
81837 |
|
BANCO DE GALICIA Y BUENOS AIRES S.A. |
58861 |
|
BANCO PATAGONIA S.A. |
37297 |
|
BANCO DE LA NACION ARGENTINA |
1228 |
|
BANCO FINANSUR S.A. |
4078 |
|
BBVA BANCO FRANCES S.A. |
1 |
|
|
According to the classification of banking relations
of Argentina, the company operates with level:1. This is the highest classification in the system. It
means that the company/person is fulfilling correctly its current Credit
obligations. There are no rejected checks for the subject, which
means an amount of $0. POSITIVE CHECKS IN AR$ * April 2018 600,000.00 * March 2018 11,796,967.12 * February 2018 7,517,939.10 * January 2018 12,505,667.44 * December 2017 13,170,697.54 * November 2017 14,173,500.00 * October 2017 17,845,933.05 * September 2017 14,836,996.47 * August 2017 21,740,500.47 * July 2017 17,973,765.79 * June 2017 8,778,199.26 * May 2017 4,030,518.91 * April 2017 794,069.58 * March 2017 3,426,556.69 * February 2017 642,869.31 * January 2017 1,094,212.17 * December 2016 841,380.29 * November 2016 1,179,449.12 * October 2016 908,050.24 * September 2016 2,814,080.79 * August 2016 938,174.31 * July 2016 1,572,995.92 * June 2016 559,535.23 * May 2016 607,214.51 * April 2016 3,158,343.50 * March 2016 838,029.59 |
|
|
|
|
History: |
This company was established in 1959. However, its
experience dates back to 1938, when the group was founded by the brothers
Antonio and Miguel Argüelles. Marcelo led the second generation of the
family, which was then joined by the third generation, made up of the
families of Garcia Belmonte, Bóscolo and Bayá. |
|
Its previous name was INSTITUTO SIDUS ICSA and
changed in 17/09/2002. |
|
PRINCIPAL
ACTIVITY
|
|
|
SIDUS S.A. is dedicated to the manufacture of medicinal
products for human use and pharmaceutical products. |
|
|
Products/Services description: |
PHARMACEUTICAL PRODUCTS |
|
Brands: |
ACTUALIDAD PARA MEDICOS AFILAXINA AGRO-BIO ALGASOL DE MEDEX ALGIOPRUX AMIDLIN AMPROVATE APM ARRUMALON ARTRO-RED AUTRALIX AUTRAXIL BALANCETER-Z BAYPASS GENICO BIOARGENT BIODROP BIOFAGO BIONOTICIAS BIOPARATORM BIOPLAQ BIOSIDUS BIOSULIN BLUE DRINK CARDIVAS CEL DERMATAR DIURIFLUX DORZOPLAX DULCERIL DUOBLOC DUPIN E - COLICIN ESTABLECIMIENTO PAUL DUPIN ESTABLECIMIENTOS PAUL DUPIN FENDELBRON FLUOREXIDINA FOSTIOL GRAMABIO GRAMACBIO GRAN SLAM |
|
Sales are: |
Wholesale |
|
Clients: |
Pharmaceutical Industry |
|
Suppliers: |
No records |
|
Operations area: |
National and International |
|
The company imports from |
No records |
|
The company exports to |
PARAGUAY, CHINA, THAILAND |
|
The subject employs |
430 employees |
|
Payments: |
No Complaints |
LOCATION
|
|
|
Headquarters : |
Dardo Rocha 944 Martinez, 1640 Argentina |
|
Size: |
NA |
|
Branches: |
Plant Tel: *54 230-4496956/7 Parque Industrial de Pilar: Ruta 8 Km 60 calle 12 N 985, (CP 1629) Parque Ind.
Pilar, Provincia de Buenos Aires-Argentina |
|
Related Companies: |
TECNOPLANT S.A. BERRIES DE ARGENTINA S.A. |
|
|
|
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
|
|
|
Listed at the stock exchange: |
NO |
|
Capital: |
AR $30.000.000 |
|
Shareholders: |
This is a private company. Major holders are: SILVIA ROSARIO ARGUELLES DE BOSCOLO MARCELO LUIS ARGUELLES UGARTEBURU MATIAS BOSCOLO |
|
Management: |
PRESIDENT: MARCELO LUIS ARGUELLES UGARTEBURU VICE-PRESIDENT: SILVIA ROSARIO ARGUELLES DE BOSCOLO DIRECTORS: MATIAS BOSCOLO VIVIANA ALICIA LAVEGLIA DE ARGUELLES FERNANDO LUIS
BOSCOLO LUCAS ARGUELLES RODRIGO BOSCOLO FEDERICO ARGUELLES JAVIER BOSCOLO SOLEDAD ARGUELLES |
|
|
|
FINANCIAL
INFORMATION
|
|
|
The company does not make
its financial statements public. The following information has been provided
by private sources: |
|
|
|
|
|
AR$ 2016 |
|
|
Revenue |
230 000 000 |
|
Cash Flow |
Normal |
|
|
|
|
Exports in US$ |
|
|
Year |
Total |
|
2017 |
16,350 |
|
2016 |
1,651,525 |
|
2015 |
664.075 |
|
1.928.105 |
|
|
2013 |
2.564.007 |
|
2012 |
1.881.988 |
|
2011 |
2.469.504 |
|
|
|
LEGAL
FILINGS
|
|
|
JUDICIAL BACKGROUND TRIALS AS DEFENDANT Date of the draw: 09/27/2013 Cap.Fed. Executive Juzg.Com .: 012 Sec .: 023 Exp:
026641 Defendant / s: SIDUS SA CUIT 30501317019 Actor / s: GSK TRADING SERVICES LTD TRIALS AS ACTOR Date Raffle: 02/27/2014 Cap.Fed. Executive Juzg.Com .: 006 Sec .: 011 Exp:
003598 Defendant / s: BIOSIDUS SA CUIT 30598117094 Actor / s: SIDUS SA CUIT 30501317019 FISCAL BACKGROUND General Directorate of Rents - Province of Río Negro Object: 20 - 30501317019 Debt: $ 48,547.64 No. title: Judgment: File: D-1VI-3988-CR2017 Trial No .: 44191 Start date: 10/15/2017 Judicial Department: VIEDMA - CIVIL COURT, COM.,
MIN. And SUC. Nº1 Judged: FIRST Secretary: Address: PARAGUAY Process date: 02/14/2018 TRIALS AS DEFENDANT Date of the draw: 08/10/2017 Rosario, Apremio Fiscal, District 2da. Nomination Cover: SIDUS SA Actor / s: MUNICIPALITY OF ROSARIO Source: List of judged draws - Rosario - /
(20170820-267421) |
|
|
|
|
SUMMARY
|
|
|
Founded in 1959, Sidus S.A. is a large organization
in the pharmaceutical preparation companies industry located in Martinez, Argentina.
It has 58 years of experience in the market. It is a large-sized company which has approximately
430 full-time employees and an estimated AR$230 million in annual revenue. It
mainly exports to PARAGUAY. This is an ACTIVE company incorporated in ARGENTINA
since 1959. |
|
RISK
INFORMATION
|
|
|
Total de endeudamiento sistema financiero: $
224,478,000 Total de presupuesto mensual sistema financiero: $
6,905,815 Situación actual de la Central de Deudores BCRA: 1 En
situación normal Total de consultas: Últimos 3 meses: 51 | Últimos 12
meses: 221 Registra aportes patronales impagos como empresario
dentro de los últimos 24 meses Último contrato Superintendencia de Riesgos de Trabajo
con afiliación vigente, aseguradora ASOCIART Registrantes fiscales |
|
|
DEBTS |
Controlled |
|
PAYMENTS |
No Complaints |
|
CASH FLOW |
Normal |
|
STATUS |
Active |
|
|
|
INTERVIEW
|
|
|
NAME |
RUBEN |
|
POSITION |
Assistant |
|
COMMENTS |
He confirmed address, website, date of creation, main
activity and contact. He also provided an email and then refused to provide
more information. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.96 |
|
|
1 |
INR 90.34 |
|
Euro |
1 |
INR 80.75 |
|
ARS |
1 |
INR 3.19 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.