MIRA
INFORM REPORT
|
Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
TIMAC AGRO INDUSTRIA E COMERCIO DE FERTILIZANTES LTDA |
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Registered Office : |
Avenida Carlos Gomes, 1340 11°. E 12°. Andares - Bairro Auxiliadora |
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Country : |
Brazil |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
17.12.1997 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture, sale, import and export of fertilizers |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Brazil |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
TIMAC AGRO INDUSTRIA E COMERCIO DE FERTILIZANTES LTDA
ADDRESSES
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MAIN ADDRESS: |
AVENIDA CARLOS GOMES, 1340 11°. E 12°. ANDARES - BAIRRO AUXILIADORA |
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ZIP CODE/CITY: |
90480-001 - PORTO ALEGRE/RS |
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PHONE: |
51 3382-8757 |
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FAX: |
51 3382-8715 |
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E-MAIL: |
marcio.wasem@timacagro.com.br |
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WEB SITE: |
www.timacagro.com.br |
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BRANCHES: |
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ADDRESS: |
AVENIDA ALMIRANTE MAXIMIANO FONSECA, |
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ZIP CODE/CITY: |
96204-040 RIO GRANDE/RS |
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PHONE: |
53 2125-8128 |
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CNPJ: |
02.329.713/0002-00 |
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STATE REGISTER: |
100/0194164 |
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ADDRESS: |
RODOVIA DO CAFÉ BR |
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ZIP CODE/CITY: |
84043-450 PONTA GROSSA/PR |
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CNPJ: |
02.329.713/0009-86 |
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STATE REGISTER: |
90255010-01 |
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ADDRESS: |
RODOVIA RS |
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ZIP CODE/CITY: |
99400-000 ESPUMOSO/RS |
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CNPJ: |
02.329.713/0010-10 |
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STATE REGISTER: |
0410031836 |
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ADDRESS: |
VIA CANDEIRAS, KM 01 LOTE 04 - CIA NORTE |
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ZIP CODE/CITY: |
43800-000 CANDEIAS/BA |
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CNPJ: |
02.329.713/0007-14 |
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STATE REGISTER: |
57.076.861-NO |
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ADDRESS: |
RUA HUM, 920 SALA 201 - JARDIM ARACÍLIA |
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ZIP CODE/CITY: |
07250-130 GUARULHOS/SP |
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CNPJ: |
02.329.713/0013-62 |
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STATE REGISTER: |
336.741.713.110 |
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ADDRESS: |
RODOVIA A1 - |
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ZIP CODE/CITY: |
57130-000 SANTA LUZIA DO NORTE/AL |
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ADDRESS: |
VIA PORTUÁRIA, S/Nº. KM 20 - CIA NORTE |
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ZIP CODE/CITY: |
43805-190 CANDEIAS/BA |
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PHONE: |
71 2107-0019 |
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CNPJ: |
02.329.713/0022-53 |
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THE ABOVE THE COMPANY ALSO HAS OTHER 05 BRANCHES LOCATED IN: PORTO
ALEGRE/RS, PONTA GROSSA/PR, SÃO LUÍS/MA AND CAMPINAS/SP. |
LEGAL DATA
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MAIN ACTIVITIES: |
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MANUFACTURE, SALE, IMPORT AND EXPORT OF FERTILIZERS. |
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
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INCORPORATION DATE: |
17/12/1997 |
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REGISTER DATE: |
17/12/1997 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
02.329.713/0001-29 |
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STATE REGISTER: |
096/2674397 |
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SHARE CAPITAL: |
R$ 23.376.300,00 |
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LAST REGISTER OF CAPITAL: |
21/12/2009 |
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BOARD OF
DIRECTORS: |
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GEORGE WASHINGTON DA SILVA |
MANAGING PARTNER |
AUTHORIZED USE OF SIGNATURE
|
THE MANAGING PARTNER IS AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
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|
|
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FIPAR ARO INTERNATIONAL (FRANCE) |
R$ 21.038.670,00 |
|
TIMAC AGRO INTERNATIONAL (FRANCE) |
R$ 2.337.630,00 |
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AFFILIATES /
SUBSIDIARIES: |
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ROULLIER GROUP |
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COMPANY'S BACKGROUND
|
THE SUBJECT WAS ESTABLISHED ON DECEMBER 17, 1997 AS ROULLIER DO BRASIL
LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON NOVEMBER 10, 2008 IT
ADOPTED THE ABOVE-MENTIONED NAME. IN MAY 2009 SUBJECT TOOK OVER PART OF THE NET EQUITY OF PROFERTIL
PRODUTOS QUIMICOS E FERTILIZANTES LTDA., CNPJ 10.782.100/0001-70. TRADE NAME: TIMAC AGRO PARTNERS: FIPAR AGRO INTERNATIONAL: LOCATED
IN 27, AVENUE FRANKLIN ROOSEVELT, 35400 SAINT-MALO, FRANCE, TAXPAYER'S
REGISTRATION UNDER (CNPJ) 07.149.774/0001-28, REPRESENTED BY ITS ATTORNEY,
MR. ALAIN HENRI ANDRÉ FOSSOUX, FRENCH, MARRIED, ADMINISTRATOR, HOLDER OF
DOCUMENTS RG/RNE V 462489-R - SIPARO DELEMIG/RJ AND CPF: 740.554.537-87,
RESIDENTIAL ADDRESS AT AVENIDA RUI BARBOSA, 266, APTO 401, FLAMENGO, ZIP CODE
22250-020, RIO DE JANEIRO/RJ; TIMAC AGRO INTERNATIONAL:
LOCATED IN 27, AVENUE FRANKLIN ROOSEVELT, 35400 SAINT-MALO, FRANCE,
TAXPAYER'S REGISTRATION UNDER (CNPJ) 05.505.329/0001-28, REPRESENTED BY ITS
ATTORNEY, MR. ALAIN HENRI ANDRÉ FOSSOUX, FRENCH, MARRIED, ADMINISTRATOR,
HOLDER OF DOCUMENTS RG/RNE V 462489-R - SIPARO DELEMIG/RJ AND CPF:
740.554.537-87, RESIDENTIAL ADDRESS AT AVENIDA RUI BARBOSA, 266, APTO 401,
FLAMENGO, ZIP CODE 22250-020, RIO DE JANEIRO/RJ. FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN CONTACTING THE SUBJECT WE INTERVIEWED MISS ILKE, ACCOUNTING
DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION
UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED. IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF
THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER
INFORMATION. THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR
DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES
USUALLY INVESTIGATED. |
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PUBLIC RECORDS
INFORMATION: |
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NO DETRIMENTAL FILES WERE FOUND. |
FINANCIAL INFORMATION
|
DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE
BALANCE SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY
DECLINED TO PROVIDE ANY KIND OF FINANCIAL INFORMATION. OUTSIDE SOURCES CONTACTED SHOWED THE FOLLOWING FINANCIAL DATA ABOUT
THIS COMPANY. NO MORE UPDATE OR COMPLETE IS AVAILABLE. |
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GENERAL BALANCE SHEETS AS OF 31/12/2007. |
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( FIGURES ARE IN THOUSANDS OF REAIS ). |
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ASSETS |
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CURRENT: |
31/12/2007 |
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CASH AND BANKS |
1.914 |
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INVESTMENTS |
649 |
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CLIENTS |
37.045 |
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INVENTORY |
54.468 |
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ADVANCES |
3.321 |
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RECOVERABLE TAXES |
7.543 |
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PRE PAID EXPENSES |
284 |
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OTHER CREDITS |
1.008 |
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---------------- |
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TOTAL CURRENT ASSETS |
106.232 |
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LONG-TERM
RECEIVABLES: |
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JUDICIAL DEPOSITS |
3.427 |
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INTERCOMPANY CREDITS |
7.604 |
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OTHER CREDITS |
586 |
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---------------- |
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TOTAL LONG-TERM RECEIVABLES |
11.617 |
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FIXED ASSETS: |
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INVESTMENTS |
3 |
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FIXED ASSETS |
38.325 |
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---------------- |
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TOTAL FIXED ASSETS |
38.328 |
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================ |
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TOTAL ASSETS |
156.177 |
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LIABILITIES: |
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CURRENT: |
31/12/2007 |
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LOANS AND FINANCING |
78.248 |
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SUPPLIERS |
43.948 |
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IMPORTS IN PROGRESS |
1.237 |
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TAX LIABILITIES |
1.061 |
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SOCIAL OBLIGATIONS |
2.709 |
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INTERCOMPANY DEBTS |
863 |
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COMMISSIONS DUE |
469 |
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OTHER DEBTS |
14.406 |
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LABOR OBLIGATIONS |
1.660 |
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---------------- |
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TOTAL CURRENT LIABILITIES |
144.601 |
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LONG TERM
LIABILITIES: |
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LOANS AND FINANCING |
6.783 |
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PROVISION FOR CONTINGENCIES |
1.910 |
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---------------- |
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TOTAL LONG TERM LIABILITIES |
8.693 |
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NET EQUITY: |
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SHARE CAPITAL |
19.250 |
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|
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ACCRUED PROFIT (LOSS) |
-16.367 |
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---------------- |
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TOTAL NET EQUITY |
2.883 |
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================ |
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TOTAL LIABILITIES |
156.177 |
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PROFIT AND LOSS ACCOUNTS AS OF 31/12/2007. |
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( FIGURES ARE IN THOUSANDS OF REAIS ). |
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31/12/2007 |
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GROSS SALES |
334.271 |
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(-) TAXES ON SALES |
13.410 |
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---------------- |
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NET SALES |
320.861 |
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(-) COST OF SOLD GOODS |
248.323 |
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---------------- |
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GROSS PROFIT |
72.538 |
|
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OPERATING REVENUE (EXPENSE) |
-61.235 |
|
|
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FINANCIAL REVENUE(EXPENSE) |
-8.319 |
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---------------- |
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OPERATIONAL PROFIT (LOSS) |
2.984 |
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NON-OPERATING RESULT |
2.403 |
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CONTRIBUTION/INCOME TAX |
-2.614 |
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---------------- |
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NET PROFIT (LOSS) |
2.773 |
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MONTHLY SALES |
|||
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2008 |
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--------------------- |
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JANUARY |
R$ 37.389.837,88 |
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FEBRUARY |
R$ 41.243.797,86 |
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MARCH |
R$ 42.594.755,23 |
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|
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APRIL |
R$ 26.570.373,07 |
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MAY |
R$ 68.958.987,71 |
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|
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JUNE |
R$ 68.902.247,95 |
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JULY |
R$ 67.238.464,70 |
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AUGUST |
R$ 81.284.967,18 |
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SEPTEMBER |
R$ 35.281.907,95 |
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|
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OCTOBER |
R$ 37.866.836,55 |
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NOVEMBER |
R$ 23.522.280,75 |
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DECEMBER |
R$ 8.339.795,54 |
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TOTAL |
R$
539.194.252,37 |
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RATIOS: |
31/12/2007 |
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QUICK RATIO |
,36 |
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CURRENT RATIO |
,73 |
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|
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ACCOUNTS RECEIVABLE TURNOVER |
8,66 |
TIMES |
|
|
|
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DAYS' SALES IN RECEIVABLES |
41,56 |
DAYS |
|
|
|
|
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INVENTORY TURNOVER |
4,56 |
TIMES |
|
|
|
|
|
ACCOUNTS PAYABLE PERIOD |
63,71 |
DAYS |
|
|
|
|
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RETURN ON ASSETS |
2,05 |
TIMES |
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|
|
|
|
SALES TURNOVER ON NET EQUITY |
111,29 |
TIMES |
|
|
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NET WORTH TIE-UP |
13,29 |
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INDEBTEDNESS |
53,17 |
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EQUITY RATIO |
1,85 |
% |
|
|
|
|
|
WORKING CAPITAL RATIO |
-26,53 |
% |
|
|
|
|
|
GENERAL SOLVENCY |
1,02 |
|
|
|
|
|
|
RETURN ON NET EQUITY |
96,18 |
% |
|
|
|
|
|
RETURN ON SALES (PROFIT MARGIN) |
,86 |
% |
|
|
|
|
|
GROSS PROFIT MARGIN |
22,61 |
% |
|
|
|
|
|
OPERATIONAL RESULT |
,93 |
% |
|
|
|
|
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SALES TURNOVER ON LIABILITIES |
2,22 |
TIMES |
|
|
|
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|
FOREIGN CURRENCY ON ASSETS |
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FOREIGN CURRENCY ON LIABILITIES |
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EXCHANGE RATE: |
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|
US$ 1,00 = R$ 1,63 |
- OFFICIAL RATE ON 09/08/2011 |
|
US$ 1,00 = R$ 1,77 |
- OFFICIAL RATE ON 31/12/2007 |
|
US$ 1,00 = R$ 2,33 |
- OFFICIAL RATE ON 31/12/2008 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE 2007 ANNUAL FIGURES AVAILABLE SHOW AN ACCEPTABLE FINANCIAL
STANDING. THE LIQUIDITY IS LOW AND THE LEVEL OF INDEBTEDNESS KEEPS VERY HIGH.
DESPITE SOME NEGATIVE RESULTS THE COMPANY SHOWED HIGH SALES VOLUME AND MADE
PROFIT. DESPITE SUCH FINANCIAL SITUATION THE COMPANY KEEPS ON OPERATING WITH
HIGH AND GROWING SALES AND NO ADVERSE INFORMATION IS NOTED. IN ADDITION THE
SUBJECT MAY COUNT ON THE FINANCIAL SUPPORT OF ITS PARENT COMPANY WHICH HAS
HUGE FINANCIAL POWER. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$
672.000,00
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$
534.000,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS
ARE VALUED AT R$ 15.545.000,00
INSURANCE
|
THE COMPANY MAINTAIN INSURANCE COVERAGE BY AMOUNTS CONSIDERED
SUFFICIENT TO COVER CONTINGENCY INDEMNITIES OVER ITS ASSETS AND/OR
LIABILITIES: |
|
COVERAGE: |
FIXED EXPENSES |
|
VALUE: |
R$ 63.021.000,00 |
|
|
|
|
COVERAGE: |
CIVIL LIABILITY |
|
VALUE: |
R$ 2.000.000,00 |
BANKING REFERENCES
|
|
BRANCH/PHONE: |
CITY: |
|
BANCO DO BRASIL S/A |
3418 |
PORTO ALEGRE/RS |
|
BANSICREDI |
100 |
PORTO ALEGRE/RS |
|
BANCO SANTANDER S/A |
0138 |
PORTO ALEGRE/RS |
|
BANCO ITAU S/A |
0280 |
PORTO ALEGRE/RS |
|
HSBC BANK BRASIL S/A |
0157 |
PORTO ALEGRE/RS |
|
BANCO SAFRA S/A |
14200 |
PORTO ALEGRE/RS |
|
BANCO BANRISUL S/A |
0049 |
PORTO ALEGRE/RS |
|
BANCO BRADESCO S/A |
3708 |
PORTO ALEGRE/RS |
|
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"). |
ACTIVITIES COMMENTS
|
SUBJECT IS ENGAGED IN THE MANUFACTURE, SALE, IMPORT AND EXPORT OF
FERTILIZERS. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
FRANCE, TOGO, ARGENTINA AND ARGELIA. |
EXPORTS TO:
|
ARGENTINA, URUGUAY, CHILE, PARAGUAY AND BOLIVIA. |
|
MAIN CLIENTS: |
|
|
|
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DOMESTIC
CLIENTS: |
|
|
|
COOP AGR M GENERAL OSORIO |
/RS |
|
|
COOP AGR TUPANCIRETA LTDA |
/RS |
|
|
COOP AGROP PROD INTEGRADA PR |
/PR |
|
|
COOP AGROP URUUGAI LTDA |
/RS |
|
|
COOP RIO DO PEIXE |
/SC |
|
|
COOP TRIT CAÇAPAVANA |
/RS |
|
|
COOP TRIT JULIO CASTILHOS LTDA |
/RS |
|
|
COOP TRIT REG SÃOLUIZENSE LTDA |
/RS |
|
|
COROL COOP AGROINDUSTRIAL |
/PR |
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 990 EMPLOYEE(S) |
CONCEPT AND FULFILMENT
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1997. SO
FAR IT OPERATES WITH VERY HIGH SCALE OF ACTIVITIES. BOTH THE COMPANY AND THE GROUP
IT BELONGS TO ENJOY AN EXCELLENT TRADE REPUTATION. THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE
SUPPLIERS EXTEND HIGH CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS
ACCORDING TO THE COMPANY'S NEEDS. SO FAR NO PAYMENT PROBLEMS ARE REGISTERED. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
CITY: |
PHONE: |
|
ADUBOS TREVO LTDA |
|
|
|
AGROPLANTA INDUSTRIAS QUIMICAS |
|
|
|
AREIA DO MAR COMERCIO DE ATERRO |
|
|
|
BRASKEM S/A |
|
|
|
BUNGE FERTILIZANTES S/A |
RIO GRANDE/RS |
53 3234-1133 |
|
CIBRAFERTIL CIA DO GRUPO |
|
|
|
CYSI MINERAÇÃO LTDA |
|
|
|
ENGESUL IND E COMERCIO |
|
|
|
FAFEN - FABRICA FERTILIZANTES NITROGENADOS |
|
|
|
MAGNESITA S/A |
BRUMADO/BA |
77 441-8000 |
|
MILENIA AGRO CIÊNCIAS S/A |
|
|
|
NUTRIPLANT INDUSTRIA E COMERCIO |
|
|
|
OUROFERTIL INDUSTRIA E COMERCIO |
|
|
|
PRODUQUIMICA IND E COM LTDA |
SUZANO/SP |
11 4746-3000 |
|
PROFERTIL PRODUTOS QUIMICOS |
|
|
|
PROQUIGEL QUIMICA S/A |
|
|
|
SHELL BRASIL LTDA |
ESTEIO/RS |
51 3472-8141 |
|
ULTRAFERTIL S/A |
|
|
|
VALE S/A |
|
|
|
FOREIGN
SUPPLIERS: |
COUNTRY: |
|
|
BORAX ARGENTINA |
ARGENTINA |
|
|
INDAGRO S.A. |
TOGO |
|
|
TRANSAMMONIA INC |
|
|
|
PAYMENT HISTORY: |
|
72 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 10.797.765,00 |
|
|
|
AMOUNT OF INVOICES PAID: 766 |
|
TOTAL OF PROMPT PAYMENTS: 97% |
|
TOTAL OF DELAYED PAYMENTS: 3% |
|
|
|
HIGHEST INVOICE: R$ 357.401,00 |
|
HIGHEST CREDIT: R$ 662.679,00 |
FINAL OPINION
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS SINCE 1997. SO
FAR THE COMPANY OPERATES WITH CLEAR TRADE HISTORY AND GOOD PAYMENT
PERFORMANCE. BASED ON THE OVERALL 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 SIZE AND FINANCIAL STRENGTH. DESPITE THE ABSENCE OF UPDATED FINANCIAL DATA THE COMPANY HAS PAYMENT
CAPACITY AND IS CONSIDERED CREDITWORTHY FOR AN INITIAL CREDIT OF USD
350.000,00 FOR THE ABOVE TERMS. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.27 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.58 |
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 |
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 |
|
-- |
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.