MIRA
INFORM REPORT
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Report Date : |
17.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
IPIRANGA QUÍMICA S/A |
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Registered Office : |
Rua Antônio Carlos, 434 - 4º andar – parte-Consolação 01309-010-São Paulo/SP |
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Country : |
Brazil |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
10.01.1990 |
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Com. Reg. No.: |
142.259 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trade of chemical
products. |
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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Maximum Credit Limit : |
US$ 20,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Head information
Company name : IPIRANGA QUÍMICA S/A
Trade Name : IPIRANGA
Economical Group : IPIRANGA PETROLEO
Address : Rua Antônio Carlos, 434 - 4º andar – parte-Consolação 01309-010-São
Paulo/SP - Brasil
Tele/Fax : (55-11) 2195-9090
E-mail : wilson.ziolli@ipirangaquimica.com.br / fabio.costa@ipirangaquimica.com.br
Web Site :
www.ipirangaquimica.com.br
Legal information
Legal Status : Joint Stock Company (Closed Capital)
Incorporation date : January 10, 1990
Register number : 142.259
Tax contributor (CNPJ) : 62.227.509/0001-29
Registered capital : R$294.532.698,00
State Registration : #: 112.557.353.110
Number of employees : 153
Branches : 28
Cities: Araucária/PR, Bauru, Betim/MG, Camaçari/BA, Canoas/RS, Duque de Caxias/RJ, Fortaleza/CE, Guarulhos/SP, Paulínia/SP, Recife/PE, Rio Grande/SP, Santos/SP, São Paulo/SP, Simões Filho/BA, Itajaí/SC, Rio de Janeiro/RJ, Maringá/PR, Osasco/SP, Londrina/PR e Ribeirão Preto/SP
History
Established on January 10, 1990,
chartered at the State Commerce Registration Office of São Paulo (JUCESP) under
# 142.259, with the registered name of Ipiranga Comercial Química S/A. On
November 16, 2006 the subject changed to the present registered name.
In Janeiro/2003, it incorporated Forlab Chitec S/A Comércio
Internacional - CNPJ: 33.215.385/0001-63
Shareholders: (joined 01/1990)
REFINARIA DE PETRÓLEO IPIRANGA S/A -
58,5%
Brazilian, CNPJ: 94.845.674/0001-30
CIA BRASILEIRA DE PETRÓLEO IPIRANGA -
41,4%
Brazilian, CNPJ: 33.069.766/0001-81
Other shareholders - 0,1%
Management: (04/2005 up to 04/2008)
FERNANDO RAFAEL ANSELMO ABRANTES -
Superintendent Director
Brazilian, Married, CPF: 315.532.060-53
ROBERTO BASTOS TELLECHEA FILHO -
Executive Director
Brazilian, Married, CPF: 190.713.700-97
EDUARDO EUGENIO GOUVEA VIEIRA -
Executive Director
Brazilian, Married, CPF: 008.564.287-87
JOÃO PEDRO GOUVEA VIEIRA FILHO -
Executive Director
Brazilian, Married, CPF: 008.563.207-49
BOLIVAR BALDISSEROTTO MOURA -
Executive Director
Brazilian, Married, CPF: 004.822.420-00
SÉRGIO SILVEIRA SARAIVA -
Executive Director
Brazilian, Married, CPF: 001.488.060-15
ELIZABETH SURREAUX RIBEIRO TELLECHEA -
Director
Brazilian, Single, CPF: 287.137.960-20
ROBERTO DORA FERNANDES -
Director
Brazilian, Married, CPF: 182.108.727-53
Management Board: (up to 04/2008)
SÉRGIO SILVEIRA SARAIVA -
President
CPF: 001.488.060-15
CARLOS ALBERTO MARTINS BASTOS -
Vice President
CPF: 131.203.790-34
Members of the Board:
SOLON BRANDI SASTRE -
CPF: 125.192.430-15
EDUARDO EUGENIO GOVEIA VIEIRA -
CPF: 008.564.287-87
JOÃO FRANCISCO TELLECHEA FILHO -
CPF: 005.568.070-49
ANGELO BASTOS TELLECHEA -
CPF: 005.235.180-72
Properties
It owns several properties.
Other properties:
Owner: Refinaria de
Petróleo Ipiranga S/A
Owner: Cia
Brasileira de Petróleo Ipiranga
Registered line of business:
Trade of chemical products
Purchases:
79% - domestic market
21% - international market
Related Companies
Stock participation:
IPIRANGA PETROQUÍMICA S/A
CNPJ: 88.939.236/0001-39
- Ipiranga Comercial Química S/A -
86,90%
IPIRANGA QUÍMICA ARMAZENS GERAIS LTDA
CNPJ: 06.308.585/0001-98
- Ipiranga Comercial Química S/A -
85,00%
ISATEC PESQUISA DESENV.E ANALISES
CNPJ: 89.314.975/0001-06
- Refinaria de Petróleo Ipiranga S/A -
99,80%
- Roberto Bastos Tellechea Filho - 0,10%
CIA. BRASILEIRA DE PETRÓLEO IPIRANGA
CNPJ: 33.069.766/0001-81
- Refinaria de Petróleo Ipiranga S/A -
24,80%
DISTRIB.DE PRODS DE PETRÓLEO IPIRANGA
CNPJ: 92.689.256/0001-76
- Refinaria de Petróleo Ipiranga S/A -
15,30%
- Sérgio Silveira Saraiva - 9,90%
EMPR. CARIOCA DE PRODS QUÍMICOS S/A
CNPJ: 33.346.586/0001-08
- Cia. Brasileira de Petróleo Ipiranga -
99,90%
Financial Data
The following financial statement
was obtained through outside sources consulted.
Balance sheet information for fiscal year ending:
31/12/2005 – US$1.00 = R$2,341
31/12/2004 – US$1.00 = R$2,654
31/12/2003 - US$1.00 = R$2,889
Figures are in (Thousands of) Reais R$:
Assets
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2005 |
2004 |
2003 |
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Current Assets |
128.816 |
115.625 |
84.086 |
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Inventory |
26.614 |
25.341 |
15.841 |
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Other Assets |
102.202 |
90.284 |
68.245 |
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Long Term Assets |
14.072 |
9.695 |
2.264 |
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Fixed Assets |
606.284 |
391.498 |
37.260 |
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Investment |
556.026 |
341.292 |
272 |
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Immovable |
48.382 |
47.782 |
35.432 |
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Deferred |
1.876 |
2.424 |
1.556 |
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Total Assets |
749.172 |
516.818 |
123.610 |
Liabilities
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2005 |
2004 |
2003 |
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Current Liabilities |
56.860 |
66.103 |
46.685 |
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Suppliers |
31.937 |
32.339 |
32.916 |
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Other liabilities |
24.923 |
33.764 |
13.769 |
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Long Term
Liabilities |
314.045 |
268.604 |
254.335 |
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Net Equity |
378.267 |
182.111 |
(177.410) |
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Capital |
294.533 |
294.533 |
294.533 |
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Reserves |
85.840 |
85.840 |
85.840 |
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Accumulated Profit (Loss) |
(2.106) |
(198.262) |
(557.783) |
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Total Liabilities |
749.172 |
516.818 |
123.610 |
Income Statement
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2005 |
2004 |
2003 |
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Annual Net Sales |
419.095 |
441.573 |
380.200 |
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Gross Income |
73.069 |
80.981 |
69.823 |
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Operating Income |
191.481 |
352.529 |
114.944 |
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Net Income |
196.156 |
359.521 |
114.241 |
Financial Analysis
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2005 |
2004 |
2003 |
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Current Ratio |
2,26 |
1,75 |
1,80 |
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Current Debt Ratio |
0,15 |
0,36 |
-0,26 |
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Total Debt Ratio |
1,98 |
2,84 |
-0,70 |
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Working Capital |
$71.956 |
$49.522 |
$37.401 |
(Dollar rate US$1.00 = R$2,109 on 13/02/2007).
Banking
Banco Itaú S/A. - branch
0912
Banco Bradesco S/A. - branch 1334
Banco do Brasil
S/A. - branch
1893
HSBC Bank S/A.-
Banco Múltiplo - branch 0454
BankBoston S/A.-
Banco Múltiplo - branch 0001
Remark: banking comments could not be obtained due
to legal restrictions from the Brazilian Law.
No returned checks were found either
in the name of the company or partners.
Insurance
It is not available
Payment Information
259 invoices
Information
on purchases:
JAN/2007 Last: R$2.231 Average: R$19.445
Information
on invoicing:
NOV/2006 Highest: R$163.699 Average: R$29.205
Information on accumulation:
OUT/2006 Highest: R$505.877 Average: R$54.108
95% - prompt payments
3% - delays from 08 up to 15
days
1% - delays from 16 up to 30
days
1% - delays from 31 up to 60
days
Trade References
Main Suppliers:
TINTAS CORAL LTDA
ACDC FACTORING FOMENTO MERCANTIL LTDA
PROGUS INVESTIMENTOS CONSULTORIA E ASSESSORIA LTDA
COPERSUCAR COOP PROD CANA AÇÚCAR ÁLCOOL
UNIPAR COML E DISTRIBUIDORA S/A
ELEKEIROZ S/A
Main clients:
Not informed
Public Information
Negative information was found:
02 protested bills:
07/02/2007 R$363,85 Duque de Caxias/RJ
05/02/2007 R$389,37 Guarulhos/SP
Remarks
The information in this report were obtained from outside sources
and public records consulted.
Final Opinion
Based on the over all information
available it is believed that the subject is worthy for credit operations. A
credit limit of US$ 20,000 is considered to be feasible.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)