MIRA
INFORM REPORT
|
Report Date : |
20.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
APSEN FARMACÊUTICA S/A |
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|
|
|
Registered Office : |
Rua La Paz - 37/67 - Santo Amaro 04755-020 - São Paulo/SP/SP |
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Country : |
Brazil |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
03.06.1969 |
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Legal Form : |
Privately Held Corporation |
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Line of Business : |
Manufacture, Sale, Import, Transport and Warehousing of Pharmaceutical
Products and Raw Materials and Cosmetics, Perfumeries and Normal or Diet
Foodstuffs, Extraction of Chemical Products and Biological Materials as well
as Participation on other Companies |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3.000.000,00 |
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|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
APSEN FARMACÊUTICA
S/A
ADDRESSES
|
MAIN ADDRESS: |
RUA LA PAZ - 37/67 - SANTO AMARO |
|
ZIP CODE/CITY: |
04755-020 - SÃO PAULO/SP/SP |
|
PHONE: |
11 - 5645-5011 |
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FAX: |
11 5641-2305 |
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E-MAIL: |
nelson@aspen.com.br |
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WEB SITE: |
apsen@apsen.com.br |
|
BRANCHES: |
|
NOT AVAILABLE. |
LEGAL DATA
|
MAIN ACTIVITIES: |
|
MANUFACTURE, SALE, IMPORT, TRANSPORT AND WAREHOUSING OF PHARMACEUTICAL
PRODUCTS AND RAW MATERIALS AND COSMETICS, PERFUMERIES AND NORMAL OR DIET
FOODSTUFFS, EXTRACTION OF CHEMICAL PRODUCTS AND BIOLOGICAL MATERIALS AS WELL
AS PARTICIPATION ON OTHER COMPANIES. |
|
LEGAL
FORM: |
PRIVATELY HELD
CORPORATION |
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|
|
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INCORPORATION
DATE: |
03/06/1969 |
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REGISTER DATE: |
03/06/1969 |
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BALANCE SHEET
FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR
NUMBER(CNPJ): |
62.462.015/0001-29 |
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STATE REGISTER: |
108.110.400.118 |
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|
|
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SHARE CAPITAL: |
R$ 25.000.000,00 |
|
LAST REGISTER OF
CAPITAL: |
20/05/2008 |
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BOARD OF
DIRECTORS: |
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|
|
|
|
RENATO SPALLICCI |
PRESIDENT DIRECTOR |
|
RICARDO DE CARVALHO |
DIRECTOR |
AUTHORIZED USE OF SIGNATURE
|
THE DIRECTORS
ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS
/ PARTNERS: |
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|
|
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|
RENATO SPALLICCI |
50% |
|
IRENE GIUGNI SPALLICCI |
50% |
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AFFILIATES
/ SUBSIDIARIES: |
|
|
|
|
|
NOT AVAILABLE. |
|
COMPANY'S BACKGROUND
THE SUBJECT WAS ESTABLISHED ON JUNE 03, 1969 AS APSEN LABORATÓRIOS S/A
TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON SEPTEMBER 20, 1977 SUBJECT
CHANGED ITS CORPORATE TO THE PRESENT REGISTERED ONE.
FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY ARE SO FAR NOT KNOWN.
|
PUBLIC
INFORMATION: |
|
NO DETRIMENTAL FILES WERE FOUND. |
FINANCIAL INFORMATION
GENERAL BALANCE SHEETS AS OF 31/12/2007, 31/12/2006 AND 31/12/2005.
( FIGURES ARE IN THOUSANDS OF REAIS ).
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
|
|
|
|
|
|
CASH AND BANKS |
1.125 |
924 |
477 |
|
CLIENTS |
39.641 |
28.339 |
21.508 |
|
RECOVERABLE TAXES |
4.351 |
7.646 |
2.880 |
|
ADVANCES |
4.802 |
3.652 |
2.751 |
|
INVENTORY |
9.804 |
10.764 |
8.155 |
|
PRE PAID EXPENSES |
4.083 |
1.338 |
903 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
63.806 |
52.663 |
36.674 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
JUDICIAL DEPOSITS |
35 |
318 |
579 |
|
RECOVERABLE TAXES |
1.574 |
981 |
759 |
|
PRE PAID EXPENSES |
386 |
644 |
258 |
|
OTHER CREDITS |
98 |
101 |
123 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
2.093 |
2.044 |
1.719 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
44.175 |
32.255 |
23.135 |
|
INVESTMENTS |
5 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
44.180 |
32.255 |
23.135 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
110.079 |
86.962 |
61.528 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
|
|
|
|
|
|
SUPPLIERS |
6.817 |
4.052 |
3.204 |
|
LOANS AND FINANCING |
15.946 |
22.007 |
14.207 |
|
TAXES & CONTRIBUTIONS |
9.353 |
6.039 |
4.690 |
|
LABOR OBLIGATIONS |
|
|
323 |
|
PROVISIONS/INCOME TAX |
6.047 |
6.956 |
4.141 |
|
DIVIDENDS |
1.265 |
814 |
986 |
|
OTHER PROVISIONS |
3.223 |
2.548 |
1.275 |
|
ACCOUNTS PAYABLE |
1.195 |
713 |
585 |
|
SALARIES PAYABLE |
1.541 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
45.387 |
43.129 |
29.411 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
21.339 |
4.621 |
85 |
|
TAXES AND CONTRIBUTIONS |
3.222 |
5.225 |
6.728 |
|
PROVISION FOR CONTINGENCIES |
360 |
1.638 |
1.479 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
24.921 |
11.484 |
8.292 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
20.000 |
15.000 |
10.000 |
|
PROFIT RESERVES |
543 |
611 |
420 |
|
ACCRUED PROFIT (LOSS) |
19.228 |
16.738 |
13.405 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
39.771 |
32.349 |
23.825 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
110.079 |
86.962 |
61.528 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2007, 31/12/2006 AND 31/12/2005. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2007 |
31/12/2006 |
31/12/2005 |
|
|
|
|
|
|
GROSS SALES |
197.866 |
163.108 |
125.331 |
|
(-) TAXES ON SALES |
28.279 |
21.877 |
18.438 |
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
169.587 |
141.231 |
106.893 |
|
(-) COST OF SOLD GOODS |
44.253 |
37.247 |
29.783 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
125.334 |
103.984 |
77.110 |
|
OPERATING REVENUE (EXPENSE) |
-101.101 |
-80.822 |
-59.762 |
|
FINANCIAL REVENUE(EXPENSE) |
-6.306 |
-5.538 |
-6.550 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
17.927 |
17.624 |
10.798 |
|
NON-OPERATING RESULT |
-117 |
-45 |
28 |
|
CONTRIBUTION/INCOME TAX |
-6.488 |
-6.800 |
-3.638 |
|
PROFIT SHARING |
-2.400 |
-255 |
-323 |
|
INTERESTS ON OWN CAPITAL |
1.952 |
1.691 |
1.548 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
10.874 |
12.215 |
8.413 |
|
RATIOS: |
31/12/2007 |
31/12/2006 |
31/12/2005 |
|
QUICK RATIO |
1,19 |
|
,97 |
|
,97 |
|
|
CURRENT RATIO |
1,41 |
|
1,22 |
|
1,25 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
4,28 |
TIMES |
4,98 |
TIMES |
4,97 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
84,15 |
DAYS |
72,24 |
DAYS |
72,44 |
DAYS |
|
INVENTORY TURNOVER |
4,51 |
TIMES |
3,46 |
TIMES |
3,65 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
55,46 |
DAYS |
39,16 |
DAYS |
38,73 |
DAYS |
|
RETURN ON ASSETS |
1,54 |
TIMES |
1,62 |
TIMES |
1,74 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
4,26 |
TIMES |
4,37 |
TIMES |
4,49 |
TIMES |
|
NET WORTH TIE-UP |
1,11 |
|
1,00 |
|
,97 |
|
|
INDEBTEDNESS |
1,77 |
|
1,69 |
|
1,58 |
|
|
EQUITY RATIO |
36,13 |
% |
37,20 |
% |
38,72 |
% |
|
WORKING CAPITAL RATIO |
40,58 |
% |
22,11 |
% |
24,69 |
% |
|
GENERAL SOLVENCY |
1,57 |
|
1,59 |
|
1,63 |
|
|
RETURN ON NET EQUITY |
27,34 |
% |
37,76 |
% |
35,31 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
6,41 |
% |
8,65 |
% |
7,87 |
% |
|
GROSS PROFIT MARGIN |
73,91 |
% |
73,63 |
% |
72,14 |
% |
|
OPERATIONAL RESULT |
10,57 |
% |
12,48 |
% |
10,10 |
% |
|
SALES TURNOVER ON LIABILITIES |
3,74 |
TIMES |
3,27 |
TIMES |
3,63 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 2,02 |
- OFFICIAL RATE ON 16/04/2007 |
|
US$ 1,00 = R$ 2,13 |
- OFFICIAL RATE ON 31/12/2006 |
|
US$ 1,00 = R$ 2,34 |
- OFFICIAL RATE ON 31/12/2005 |
|
US$ 1,00 = R$ 2,65 |
- OFFICIAL RATE ON 31/12/2004 |
|
US$ 1,00 = R$ 1,63 |
- OFFICIAL RATE ON 18/08/2008 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE FIGURES AVAILABLE SHOW A NORMAL FINANCIAL STANDING. IT SHOWS HIGH
LEVEL OF INDEBTEDNESS AND IT IS MAINLY COMPRISED BY FINANCIAL DEBTS. DESPITE THIS
SCENARIO IT IS NOTED GOOD CURRENT RATIO AND POSITIVE WORKING CAPITAL AMOUNT,
CONSIDERED ENOUGH TO COVER THE SHORT-TERM LIABILITIES. IN ADDITION THE
COMPANY OPERATES WITH HIGH GROWING SALES AND GOOD PROFITABILITY. SO FAR NO
SIGNS OF FINANCIAL OR OPERATING PROBLEMS ARE NOTED. |
REAL ESTATE:
OWNED PREMISES ARE VALUED AT R$ 24.842.000,00
VEHICLES:
OWNED VEHICLES ARE VALUED AT R$ 863.000,00
MACHINES:
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 9.960.000,00
INSURANCE
BANKING
REFERENCES:
|
|
BRANCH/PHONE: |
CITY: |
|
BANCO BANESPA S/A |
0438 |
SÃO PAULO/SP |
|
BANCO BRADESCO S/A |
3396 |
SANTO AMARO/SP |
|
BANCO DO BRASIL S/A |
03875 |
SANTO AMARO/SP |
|
BANCO ITAÚ S/A |
0160 |
SANTO AMARO/SP |
|
BANCO SOFISA S/A |
0019 |
SAO PAULO/SP |
|
REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE
INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW
PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). DATE RESEARCHED: AUGUST 18, 2008. |
ACTIVITIES COMMENTS
|
THE SUBJECT IS ENGAGED IN THE MANUFACTURE, SALE, IMPORT, TRANSPORT AND
WAREHOUSING OF PHARMACEUTICAL PRODUCTS AND RAW MATERIALS AND COSMETICS,
PERFUMERIES AND NORMAL OR DIET FOODSTUFFS, EXTRACTION OF CHEMICAL PRODUCTS
AND BIOLOGICAL MATERIALS AS WELL AS PARTICIPATION ON OTHER COMPANIES. MAIN PRODUCTS DETAIL SHARE NOODIPINA NIMODIPINA -
CEREBRAL/GERIATRIC VASODILATATION 14% UNOPROST DOZAZOSINA -
UROLOGY 12% MIOSAN CICLOBENZAPRINA
- MUSCLE RELAXATION 11% INIBINA ISOXSUPRINA - PERIPHERAL
VASODILATATION 10% |
IMPORT AND EXPORT:
IMPORTS FROM:
SWITZERLAND, UNITED STATES, ITALY, JAPAN,CHINA AND ARGENTINA.
EXPORTS TO:
NOT AVAILABLE.
|
MAIN CLIENTS: |
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|
|
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|
|
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DOMESTIC
CLIENTS: |
|
|
|
DISTR.FARM. PANARELLO LTD |
|
|
|
DISTR.MEDIC.STA.CRUZ LTDA |
|
|
|
DROGARIA SÃO PAULO LTDA |
|
|
|
IMEDIATA DISTR.PROD.FARM. |
|
|
|
ITA REPRES.DE PROD.FARM. |
|
|
|
JAMYR VASCONCELOS S/A |
|
|
|
MERCANTIL FARMED LTDA |
|
|
|
PROFARMA DISTR.PROD.FARM. |
|
|
|
REYDROGAS COMERCIAL LTD |
|
|
|
SAGRA PRODS.FARMAC. LTDA |
|
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 620 EMPLOYEE(S) |
CONCEPT AND FULFILMENT
THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1969. SO FAR
IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOR.
THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE
SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS
ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.
ALL THE SUPPLIERS, WHICH PROVIDED INFORMATION REPORTED PROMPT PAYMENTS,
IT MAY BE NOTED SUBJECT HAS A GOOD TRADE BEHAVIOR.
|
MAIN
SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
|
|
ALMAPAL S/A |
|
|
|
ALUISUISSE LONZA
BRASIL |
|
|
|
BLANVER
FARMOQUIMICA LTDA |
|
|
|
CBE BANDEIRANTES
EMBALAG |
|
|
|
GRAFICA
ED.BROGOTÁ LTDA |
|
|
|
REGNUS IND. E
COM. LTDA |
|
|
|
WHEATON DO
BRASIL I.COM. |
|
|
|
PAYMENT HISTORY: |
|
29 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 891.770,00 |
|
|
|
AMOUNT OF INVOICES PAID: 215 |
|
TOTAL OF PROMPT PAYMENTS: 100% |
|
TOTAL OF DELAYED PAYMENTS: 0% |
|
|
|
HIGHEST INVOICE: R$ 101.654,00 |
|
HIGHEST CREDIT: R$ 101.654,00 |
|
|
|
OUTSTANDING
INVOICES DUE WITHIN THE NEXT 30 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
4 |
10 |
R$ 24.409,00 |
FINAL OPINION
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS.
UP TO DATE IT HAS A NORMAL FINANCIAL STANDING, A CLEAR TRADE HISTORY AND GOOD
PAYMENT BEHAVIOR.
BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD
TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN
TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH.
AN INITIAL CREDIT LIMIT OF USD 3.000.000,00 CAN BE CONSIDERED. HIGHER
AMOUNTS CAN BE GRANTED DEPENDING ON THE IMPORTANCE OF THE OPERATIONS TO BE
ESTABLISHED WITH THE SUBJECT.
|
APSEN
FARMACÊUTICA S/A |
|
|
|
BALANCE SHEET
ANALYSIS |
FIGURES ARE IN
THOUSANDS OF REAIS |
|
|
|
31-12-07 |
|
|
ASSETS |
|
% |
|
Current Assets |
57.96 |
|
|
Fixed Assets |
$ 44,180 |
40.13 |
|
TOTAL ASSETS |
$ 110,079 |
100.00 |
|
LIABILITIES |
|
|
|
Current Liabilities |
$ 45,387 |
41.23 |
|
Long-Term Liabilities |
$ 24,921 |
22.64 |
|
TOTAL LIABILITIES |
$ 70,308 |
63.87 |
|
Deferred Income |
$
- |
0.00 |
|
Net Equity |
$ 39,771 |
36.13 |
|
TOTAL LIABILITIES + NET EQUITY |
$ 110,079 |
100.00 |
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
Net Sales |
$ 169,587 |
100.00 |
|
Costs |
$ 44,253 |
26.09 |
|
Gross Profit |
$ 125,334 |
73.91 |
|
Operating expenses |
$ (101,101) |
-59.62 |
|
operational Result |
$ 17,927 |
10.57 |
|
Net Profit (loss) |
$
10,874 |
6.41 |
|
COMPLEMENTARY DATA |
|
|
|
Inventory |
$ 9,804 |
|
|
Accounts receivable |
$ 39,641 |
|
|
Accounts Payable |
$ 6,817 |
|
|
Property, plant and equipment |
$ 44,175 |
|
|
Purchases |
$ 44,180 |
|
|
Financial Expenses |
$ (6,306) |
|
|
Foreign Currency Assets |
|
|
|
Foreign Currency Liabilities |
|
|
|
Working Capital |
$ 18,419 |
|
|
RATIOS: |
|
|
|
QUICK RATIO |
1.19 |
|
|
CURRENT RATIO |
1.41 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
4.28 |
times |
|
DAYS' SALES IN RECEIVABLES |
84.15 |
days |
|
INVENTORY TURNOVER |
4.51 |
times |
|
55.46 |
days |
|
|
RETURN ON ASSETS |
1.54 |
times |
|
SALES TURNOVER ON NET EQUIY |
4.26 |
times |
|
NET WORTH TIE-UP |
1.11 |
|
|
ENDEBTEDNESS |
1.77 |
|
|
EQUITY RATIO |
36.13 |
% |
|
WORKING CAPITAL RATIO |
40.58 |
% |
|
GENERAL SOLVENCY |
1.57 |
|
|
RETURN ON NET EQUITY |
27.34 |
% |
|
RETURN ON SALES (PROFIT
MARGIN) |
6.41 |
% |
|
GROSS PROFIT MARGIN |
73.91 |
% |
|
OPERATIONAL RESULT |
10.57 |
% |
|
SALES TURNOVER ON LIABILITIES |
3.74 |
times |
|
FOREIGN CURRENCY ON ASSETS |
-
|
% |
|
FOREIGN CURRENCY ON
LIABILITIES |
- |
% |
|
APSEN
FARMACÊUTICA S/A |
|
|
|
BALANCE SHEET
ANALYSIS |
|
|
|
|
31-12-06 |
|
|
ASSETS |
|
% |
|
Current Assets |
$ 52,663 |
60.56 |
|
Fixed Assets |
$ 32,255 |
37.09 |
|
TOTAL ASSETS |
$ 86,962 |
100.00 |
|
LIABILITIES |
|
|
|
Current Liabilities |
$ 43,129 |
49.60 |
|
Long-Term Liabilities |
$ 11,484 |
13.21 |
|
TOTAL LIABILITIES |
$ 54,613 |
62.80 |
|
Deferred Income |
$ - |
0.00 |
|
Net Equity |
$ 32,349 |
37.20 |
|
TOTAL LIABILITIES + NET EQUITY |
$ 86,962 |
100.00 |
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
Net Sales |
$ 141,231 |
100.00 |
|
Costs |
$ 37,247 |
26.37 |
|
Gross Profit |
$ 103,984 |
73.63 |
|
Operating expenses |
$ (80,822) |
-57.23 |
|
operational Result |
$ 17,624 |
12.48 |
|
Net Profit (loss) |
$ 12,215 |
8.65 |
|
COMPLEMENTARY DATA |
|
|
|
Inventory |
$ 10,764 |
|
|
Accounts receivable |
$ 28,339 |
|
|
Accounts Payable |
$ 4,052 |
|
|
Property, plant and equipment |
$ 32,255 |
|
|
Purchases |
$ 32,255 |
|
|
Financial Expenses |
$ (5,538) |
|
|
Foreign Currency Assets |
|
|
|
Foreign Currency Liabilities |
|
|
|
Working Capital |
$ 9,534 |
|
|
RATIOS: |
|
|
|
QUICK RATIO |
0.97 |
|
|
CURRENT RATIO |
1.22 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
4.98 |
times |
|
DAYS' SALES IN RECEIVABLES |
72.24 |
days |
|
INVENTORY TURNOVER |
3.46 |
times |
|
ACCOUNTS PAYABLE PERIOD |
39.16 |
days |
|
RETURN ON ASSETS |
1.62 |
times |
|
SALES TURNOVER ON NET EQUIY |
4.37 |
times |
|
NET WORTH TIE-UP |
1.00 |
|
|
ENDEBTEDNESS |
1.69 |
|
|
EQUITY RATIO |
37.20 |
% |
|
WORKING CAPITAL RATIO |
22.11 |
% |
|
GENERAL SOLVENCY |
1.59 |
|
|
RETURN ON NET EQUITY |
37.76 |
% |
|
RETURN ON SALES (PROFIT
MARGIN) |
8.65 |
% |
|
GROSS PROFIT MARGIN |
73.63 |
% |
|
OPERATIONAL RESULT |
12.48 |
% |
|
SALES TURNOVER ON LIABILITIES |
3.27 |
times |
|
FOREIGN CURRENCY ON ASSETS |
- |
% |
|
FOREIGN CURRENCY ON
LIABILITIES |
- |
% |
|
APSEN
FARMACÊUTICA S/A |
|
|
|
BALANCE SHEET
ANALYSIS |
|
|
|
|
31-12-05 |
|
|
ASSETS |
|
% |
|
Current Assets |
$ 36,674 |
59.61 |
|
Fixed Assets |
$ 23,135 |
37.60 |
|
TOTAL ASSETS |
$ 61,528 |
100.00 |
|
LIABILITIES |
|
|
|
Current Liabilities |
$ 29,411 |
47.80 |
|
Long-Term Liabilities |
$ 8,292 |
13.48 |
|
TOTAL LIABILITIES |
$ 37,703 |
61.28 |
|
Deferred Income |
$ - |
0.00 |
|
Net Equity |
$ 23,825 |
38.72 |
|
TOTAL LIABILITIES + NET EQUITY |
$ 61,528 |
100.00 |
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
Net Sales |
$ 106,893 |
100.00 |
|
Costs |
$ 29,783 |
27.86 |
|
Gross Profit |
$ 77,110 |
72.14 |
|
Operating expenses |
$ (59,762) |
-55.91 |
|
operational Result |
$ 10,798 |
10.10 |
|
Net Profit (loss) |
$ 8,413 |
7.87 |
|
COMPLEMENTARY DATA |
|
|
|
Inventory |
$ 8,155 |
|
|
Accounts receivable |
$ 21,508 |
|
|
Accounts Payable |
$ 3,204 |
|
|
Property, plant and equipment |
$ 23,135 |
|
|
Purchases |
$ 23,135 |
|
|
Financial Expenses |
$ (6,550) |
|
|
Foreign Currency Assets |
|
|
|
Foreign Currency Liabilities |
|
|
|
Working Capital |
$ 7,263 |
|
|
RATIOS: |
|
|
|
QUICK RATIO |
0.97 |
|
|
CURRENT RATIO |
1.25 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
4.97 |
times |
|
DAYS' SALES IN RECEIVABLES |
72.44 |
days |
|
INVENTORY TURNOVER |
3.65 |
times |
|
ACCOUNTS PAYABLE PERIOD |
38.73 |
days |
|
RETURN ON ASSETS |
1.74 |
times |
|
SALES TURNOVER ON NET EQUIY |
4.49 |
times |
|
NET WORTH TIE-UP |
0.97 |
|
|
ENDEBTEDNESS |
1.58 |
|
|
EQUITY RATIO |
38.72 |
% |
|
WORKING CAPITAL RATIO |
24.69 |
% |
|
GENERAL SOLVENCY |
1.63 |
|
|
RETURN ON NET EQUITY |
35.31 |
% |
|
RETURN ON SALES (PROFIT
MARGIN) |
7.87 |
% |
|
GROSS PROFIT MARGIN |
72.14 |
% |
|
OPERATIONAL RESULT |
10.10 |
% |
|
SALES TURNOVER ON LIABILITIES |
3.63 |
times |
|
FOREIGN CURRENCY ON ASSETS |
- |
% |
|
FOREIGN CURRENCY ON
LIABILITIES |
- |
% |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.58 |
|
UK Pound |
1 |
Rs.81.43 |
|
Euro |
1 |
Rs.64.52 |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)