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MIRA
INFORM REPORT
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Report No. : |
509476 |
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Report Date : |
15.05.2018 |
IDENTIFICATION DETAILS
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Name : |
INDUSTRIA LOJANA DE ESPECERIAS ILE
C.A. |
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Registered Office : |
Km 1 Via Nueva Cuenca, Barrio
Consacola, Loja, Loja, Ecuador |
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Country : |
Ecuador |
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Financials (as on) : |
2016 |
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Date of Incorporation : |
1972 |
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Legal Form : |
Compañía Anónima |
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Line of Business : |
Manufacturing of condiments in general and to the
wholesale of spices in grain. |
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No. of Employees : |
254 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 500 000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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.
ECUADOR - ECONOMIC OVERVIEW
Ecuador is substantially dependent on its petroleum resources, which have accounted for more than half of the country's export earnings and approximately 25% of public sector revenues in recent years.
In 1999/2000, Ecuador's economy suffered from a banking crisis, with GDP contracting by 5.3% and poverty increasing significantly. In March 2000, the Congress approved a series of structural reforms that also provided for the adoption of the US dollar as legal tender. Dollarization stabilized the economy, and positive growth returned in the years that followed, helped by high oil prices, remittances, and increased non-traditional exports. The economy grew an average of 4.3% per year from 2002 to 2006, the highest five-year average in 25 years. After moderate growth in 2007, the economy reached a growth rate of 6.4% in 2008, buoyed by high global petroleum prices and increased public sector investment. President Rafael CORREA Delgado, who took office in January 2007, defaulted in December 2008 on Ecuador's sovereign debt, which, with a total face value of approximately US$3.2 billion, represented about 30% of Ecuador's public external debt. In May 2009, Ecuador bought back 91% of its "defaulted" bonds via an international reverse auction.
Economic policies under the CORREA administration - for example, an announcement in late 2009 of its intention to terminate 13 bilateral investment treaties, including one with the US - have generated economic uncertainty and discouraged private investment. China has become Ecuador's largest foreign lender since Quito defaulted in 2008, allowing the government to maintain a high rate of social spending; Ecuador contracted with the Chinese government for more than $9.9 billion in forward oil sales, project financing, and budget support loans as of December 2013.
The level of foreign investment in Ecuador continues to be one of the lowest in the region as a result of an unstable regulatory environment, weak rule of law, and the crowding-out effect of public investments. Faced with a 2013 trade deficit of $1.1 billion, Ecuador erected technical barriers to trade in December 2013, causing tensions with its largest trading partners. Ecuador also decriminalized intellectual property rights violations in February 2014. In March, 2015 Ecuador imposed tariff surcharges from 5% to 45% on an estimated 32% of imports. In 2014, oil output increased slightly and production remained steady in 2015 however the oil price decrease from 2014 onward affected government revenue. Ecuador’s economy fell in to recession in 2015 and remained in recession in 2016. As a result, CORREA cut the budget twice in 2015, and reduced it further in 2016.
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Source
: CIA |
STATUTORY INFORMATION |
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Legal Name: |
INDUSTRIA LOJANA DE ESPECERIAS ILE
C.A. |
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Trade Names: |
INDUSTRIA LOJANA DE ESPECERIAS ILE
C.A. |
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ID: |
1190049406001 |
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Date Created: |
1972 |
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Date Incorporated: |
1982-12-30 |
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Legal Address: |
Km 1 Via Nueva Cuenca, Barrio
Consacola, Loja, Loja, Ecuador |
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Operative Address: |
Barrio Consacola Km 1 Vía a Cuenca,
Loja- Ecuador |
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Telephone: |
593 (07) 26 63 096
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Fax: |
593 07 26 63 170 |
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Legal Form: |
COMPAÑÍA ANÓNIMA |
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Email: |
info@ile.com.ec |
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Registered in: |
ECUADOR |
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Website: |
www.ile.com.ec |
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Contact: |
Godoy Ruiz, Manuel Agustin – General Manager |
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Staff: |
254 |
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Activity: |
NAICS 1: Spice and Extract Manufacturing SIC 1: Seasonings And Spices |
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Banks: |
The company does not disclose its banking information. |
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History: |
The company was founded in 1972. |
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PRINCIPAL ACTIVITY |
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The company is dedicated to the manufacturing of condiments
in general and to the wholesale of spices in grain. |
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Products/Services description: |
The company offers Laurel, Thyme, Basil, Coriander, Cumin,
Cinnamon, Pepper, Nutmeg, Ginger, Salt of Garlic, Salt of Celery and more
Condiments. |
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Brands: |
ILE |
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Sales are: |
Wholesale |
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Clients: |
Productos Goya Nativo S.L. Family Distributors Llc Imperpac Spa Agroindustrias Los Chankas S.A.C. |
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Suppliers: |
Jinxiang Tianqin Trading Co Ltd Shandong Green Farm Fruits And Vegetables Co.Ltd. |
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Operations area: |
National and International |
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The company imports from |
CHINA |
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The company exports to |
SPAIN UNITED STATES CHILE |
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The subject employs |
254 employees |
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Payments: |
Regular |
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LOCATION |
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Headquarters : |
Barrio Consacola Km 1 Vía a Cuenca,
Loja- Ecuador |
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Comments on Address: |
- |
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Branches: |
No other branches were found. |
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Related Companies: |
GODOY RUIZ MANUEL AGUSTIN: INAPESA SA INDUSTRIA LOJANA DE ESPECERIAS ILE C.A. INMOBILIARIA SIMEGO COMPANIA DE RESPONSABILIDAD LIMITADA ARCIMEGO C.A. COMERCIALIZADORA COILE S.A. COMERCIALIZADORA GODOY RUIZ S.A. INDUSTRIA AGRÍCOLA PICASO S.A. PICAGRINDSA EMPRESA DE GENERACION HIDROCHINCHIPE S. A. GODOY RUIZ CRUZ AMADA: INDUSTRIA LOJANA DE ESPECERIAS ILE C.A. CREVIGO S.A. COMERCIALIZADORA COILE S.A. COMERCIALIZADORA GODOY RUIZ S.A. |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES |
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Listed at the stock exchange: |
NO |
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Capital: |
Subscribed Capital: USD 5.727.371 |
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Shareholders: |
NAME SHARES DELGADO VALLEJO DIANA JUDITH 125,130.0000 GODOY DELGADO DIANA ELIZABETH 125,130.0000 GODOY DELGADO JAVIER AMED 125,130.0000 GODOY DELGADO MANUEL ESTEBAN 125,130.0000 GODOY RUIZ AMED CRUZ 125,168.0000 GODOY RUIZ CRUZ AMADA 625,688.0000 GODOY RUIZ FABIAN VICENTE 625,688.0000 GODOY RUIZ FRANCE JOSE 625,688.0000 GODOY RUIZ MAGNA ORLANDA 625,688.0000 GODOY RUIZ MANUEL AGUSTIN 625,688.0000 GODOY RUIZ VERONICA PAULINA 300,502.0000 HAON GODOY ANDRES JAVIER 162,593.0000 HAON GODOY PAOLO ERIK 162,593.0000 ORTEGA GODOY DORA LISSETTE 152,264.0000 ORTEGA GODOY GABRIELA CRISTINA 152,264.0000 RUIZ AGUILERA BLANCA VICENTA 1,043,027.0000 |
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Management: |
GODOY RUIZ, MANUEL AGUSTIN – GENERAL
MANAGER GODOY RUIZ CRUZ, AMADA – PRESIDENT |
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FINANCIAL INFORMATION |
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The company does not make its
financial statements public. The following information has been provided by
private sources: |
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USD 2016 |
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ASSETS |
31,279,605.26 |
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CURRENT ASSETS |
13,050,660.59 |
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CASH AND CASH EQUIVALENTS |
141,159.81 |
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CASH |
2,750.00 |
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PUBLIC FINANCIAL INSTITUTIONS |
128,950.00 |
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PRIVATE FINANCIAL INSTITUTIONS |
9,459.81 |
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FINANCIAL ASSETS |
7,427,429.98 |
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DOCUMENTS AND ACCOUNTS RECEIVED NOT RELATED |
639,048.02 |
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OF ORDINARY ACTIVITIES THAT DO NOT GENERATE INTEREST |
639,048.02 |
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ACCOUNTS AND NOTES RECEIVABLE |
329,893.34 |
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OTHER NOT RELATED ACCOUNTS RECEIVABLE |
309,154.68 |
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RELATED DOCUMENTS AND ACCOUNTS RECEIVABLE |
6,818,878.33 |
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RECEIVABLES FROM CLIENTS |
6,746,043.30 |
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OTHER RELATED RECEIVABLE ACCOUNTS |
72,835.03 |
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PROVISION FOR INACCURABLE ACCOUNTS AND DETERIORATION |
-30,496.37 |
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INVENTORIES |
4,426,385.85 |
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INVENTORIES OF RAW MATERIAL |
771,489.75 |
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INVENTORIES OF PRODUCTS IN PROCESS |
637,274.83 |
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INVENTORIES OF SUPPLIES OR MATERIALS TO BE CONSUMED IN THE
PRODUCTION PROCESS |
1,284,740.68 |
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INVENTORIES OF FINISHED PRODUCTS AND MERCHANDISE IN
WAREHOUSE - PRODUCED BY THE COMPANY |
1,146,966.10 |
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INVENTORIES OF FINISHED PRODUCTS AND MERCHANDISE IN WAREHOUSE
- PURCHASED TO THIRD PARTIES |
12,039.45 |
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GOODS IN TRANSIT |
125,993.67 |
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INVENTORIES SPARE PARTS, TOOLS AND ACCESSORIES |
377,687.76 |
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OTHER INVENTORIES |
70,193.61 |
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SERVICES AND OTHER ADVANCED PAYMENTS |
993,691.09 |
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INSURANCE PAID FOR ADVANCE |
22,278.69 |
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ADVANCES TO SUPPLIERS |
837,582.92 |
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OTHER ADVANCED DELIVERIES |
133,829.48 |
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CURRENT ASSETS MAINTAINED FOR SALE AND DISCONTINUED
OPERATIONS |
48,623.99 |
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OTHER CURRENT ASSETS |
13,369.87 |
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NON-CURRENT ASSETS |
18,228,944.67 |
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PROPERTY, PLANT AND EQUIPMENT |
7,727,612.70 |
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LAND |
255,733.10 |
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CONSTRUCTIONS IN PROGRESS |
4,316,852.22 |
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FACILITIES |
249,723.03 |
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FURNITURE AND FIXTURES |
316,207.02 |
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MACHINERY AND EQUIPMENT |
4,851,531.29 |
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COMPUTER EQUIPMENT |
189,500.55 |
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VEHICLES, TRANSPORTATION EQUIPMENT AND MOBILE ROAD
EQUIPMENT |
327,825.61 |
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OTHER PROPERTIES, PLANT AND EQUIPMENT |
243,575.60 |
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SPARE PARTS AND TOOLS |
37,229.59 |
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(-) ACCUMULATED DEPRECIATION PROPERTIES, PLANT AND
EQUIPMENT |
-3,060,565.31 |
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BIOLOGICAL ASSETS |
671,425.93 |
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GROWING PLANTS |
634,972.39 |
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PLANTS IN PRODUCTION |
36,453.54 |
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OTHER NON-CURRENT ASSETS |
9,829,906.04 |
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SUBSIDIARY INVESTMENTS |
6,174,642.76 |
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OTHER INVESTMENTS |
194,000.00 |
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OTHER NON-CURRENT ASSETS |
3,461,263.28 |
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LIABILITIES |
23,031,935.58 |
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CURRENT LIABILITIES |
10,571,757.99 |
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DOCUMENTS AND ACCOUNTS PAYABLE |
5,017,230.68 |
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LOCAL |
5,007,380.37 |
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LOANS |
5,007,380.37 |
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NON LOCAL |
9,850.31 |
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OBLIGATIONS WITH FINANCIAL INSTITUTIONS |
3,371,976.26 |
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LOCAL |
3,371,976.26 |
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CURRENT PORTION OF SECURITIES ISSUED |
611,656.09 |
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OBLIGATIONS |
611,656.09 |
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OTHER CURRENT OBLIGATIONS |
1,412,724.83 |
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WITH THE TAX ADMINISTRATION |
327,676.12 |
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INCOME TAX PAYABLE FOR THE YEAR |
56,674.52 |
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WITH THE IESS |
63,639.86 |
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FOR EMPLOYEE LAW BENEFITS |
373,370.16 |
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EMPLOYEE PARTICIPATION PAYABLE FOR THE EXERCISE |
436,472.06 |
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DIVIDENS PAYABLE |
154,892.11 |
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CUSTOMER ADVANCES |
158,170.13 |
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NON-CURRENT LIABILITIES |
12,460,177.59 |
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OBLIGATIONS WITH FINANCIAL INSTITUTIONS |
9,098,131.47 |
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LOCAL |
8,318,131.47 |
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NON-LOCAL |
780,000.00 |
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NON-CURRENT PORTION OF SECURITIES ISSUED |
835,953.17 |
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OBLIGATIONS |
835,953.17 |
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PROVISIONS FOR EMPLOYEE BENEFITS |
2,526,092.95 |
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EMPLOYER RETIREMENT |
2,132,498.77 |
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OTHER NON-CURRENT BENEFITS FOR EMPLOYEES |
393,594.18 |
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EQUITY |
8,247,669.68 |
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CAPITAL |
5,427,303.00 |
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CAPITAL SUBSCRIBED OR ASSIGNED |
5,427,303.00 |
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RESERVATIONS |
1,256,649.12 |
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LEGAL RESERVATIONS |
1,256,649.12 |
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OTHER COMPREHENSIVE RESULTS |
75,733.10 |
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SUPERAVIT FOR REVALUATION OF PROPERTIES, PLANT AND
EQUIPMENT |
75,733.10 |
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ACCUMULATED RESULTS |
-541,485.34 |
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ACCUMULATED RESULTS FROM THE ADOPTION OF THE IFRS FOR THE
FIRST TIME |
-279,160.79 |
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VALUATION ALLOWANCES |
-262,324.55 |
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RESULTS OF THE YEAR |
2,029,469.80 |
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GANANCIA NETA DEL PERIODO |
2,029,469.80 |
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LEGAL FILINGS |
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PATENTS |
No records found. |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
No records found. |
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TRADEMARKS |
No records found. |
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RENEWAL HISTORY |
Name: INCREASE IN CAPITAL Resolution Number: 20668 Resolution date: 2017-09-18 Registration Date: 2017-10-10 Admission date: 2017-10-13 Name: RECTIFICATION Resolution Number: 2523 Resolution Date: 2017-07-20 Registration Date: 2017-08-09 Admission Date: 2017-08-10 Name: INCREASE IN CAPITAL Resolution Number: 1170 Resolution date: 2014-11-20 Registration Date: 2014-11-20 Admission Date: 2014-11-25 Name: OTHER REFORMS Resolution Number: 1170 Resolution Date: 2014-11-20 Registration Date: 2014-11-20 Admission Date: 2014-11-25 Name: INCREASE IN CAPITAL Resolution Number: 238 Resolution Date: 2013-08-15 Registration Date: 2013-08-21 Admission Date: 2013-08-22 |
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SUMMARY |
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Founded in 1972, Industria Lojana De Especerias Ile C.A.
is a mid-sized organization in the food preparers industry located in Loja,
Ecuador. It has approximately 254 full-time employees. The company
operates nationally, mainly importing from China. It is ACTIVE in business with no negative records. |
RISK INFORMATION |
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH
FLOW |
Normal |
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SUGGESTED CREDIT
LINE |
USD 500 000 |
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STATUS |
Active |
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INTERVIEW |
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NAME |
- |
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POSITION |
- |
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COMMENTS |
We called number 593
(07) 26 63 096 several times and received no answer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.32 |
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1 |
INR 91.25 |
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Euro |
1 |
INR 80.50 |
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USD |
1 |
INR 67.93 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRA |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.