MIRA INFORM REPORT

 

 

Report Date :

30.08.2011

 

IDENTIFICATION DETAILS

 

Name :

INDUKERN DO BRASIL QUÍMICA LTDA

 

 

Formerly Known As :

REIZA KERN INDÚSTRIA E COMÉRCIO LTDA.

 

 

Registered Office :

Avenida Vicente Rodrigues Da Silva, 757 Jardim Piratininga, 06230-096 - Osasco/Sp

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2008

 

 

Date of Incorporation :

06.10.1993

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale, Import ad Export o Chemicals for Veterinary, Pharmaceutical and Industrial Usage

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 1.000.000,00

Status :

Moderate

Payment Behaviour :

Slow But Correct

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

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

INDUKERN DO BRASIL QUÍMICA LTDA.

 

 

ADDRESSES

 

MAIN ADDRESS:

AVENIDA VICENTE RODRIGUES DA SILVA, 757 JARDIM PIRATININGA

ZIP CODE/CITY:

06230-096 - OSASCO/SP

 

 

PHONE:

11 3689-7666

FAX:

11 3684-1546

E-MAIL:

renato.teixeira@indukern.com.br

WEB SITE:

www.indukern.com.br

 

BRANCHES:

 

 

 

ADDRESS:

AVENIDA ADEMAR VICENTE KNISH, 809 - DISTRITO INDUSTRIAL

ZIP CODE/CITY:

88355-230 BRUSQUE/SC

PHONE:

47 3351-4400

CNPJ:

72.923.113/0006-84

STATE REGISTER:

254.212.026

 

 

ADDRESS:

AVENIDA ALFREDO LISBOA - S/Nº. – ARMAZÉM 18

ZIP CODE/CITY:

50030-150 RECIFE/PE

CNPJ:

72.923.113/0004-12

STATE REGISTER:

18.1.00102656.38

 

 

ADDRESS:

RUA ROBERTO PINTO SOBRINHO, 37 - PQ. INDL. MAZZEI

ZIP CODE/CITY:

06268-120 OSASCO/SP

CNPJ:

72.923.113/0007-65

STATE REGISTER:

492.457.957.111

 

 

ADDRESS:

RUA DR. JOÃO HILDEBRAND, 630 - RONDONIA

ZIP CODE/CITY:

93415-520 NOVO HAMBURGO/RS

CNPJ:

72.923.113/0009-27

STATE REGISTER:

08/0358747

 

 

ADDRESS:

RODOVIA ANHANGUERA, 479 - JARDIM PIRATININGA

ZIP CODE/CITY:

06230-110 OSASCO/SP

CNPJ:

72.923.113/0010-60

STATE REGISTER:

492.480.898.115

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

WHOLESALE, IMPORT AND EXPORT OF CHEMICALS FOR VETERINARY, PHARMACEUTICAL AND INDUSTRIAL USAGE.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

06/10/1993

REGISTER DATE:

14/10/1993

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

72.923.113/0001-70

STATE REGISTER:

492.367.985.117

 

 

SHARE CAPITAL:

R$ 500.112,00

LAST REGISTER OF CAPITAL:

22/04/2003

 

BOARD OF DIRECTORS:

 

 

 

NELSON FERNANDES SERGIO DE CARVALHO

DIRECTOR

GUILHERME BONETTI

DIRECTOR

 

 

AUTHORIZED USE OF SIGNATURE

 

THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

INDUKERN S/A (ESPAÑHA)

R$ 350.078,00

3K ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA

R$ 150.034,00

 

AFFILIATES / SUBSIDIARIES:

 

 

 

INDUKERN GROUP

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON OCTOBER 1993 AS KERN INDÚSTRIA E COMÉRCIO LTDA. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. LATER IT ALTERED TO REIZA KERN INDÚSTRIA E COMÉRCIO LTDA. ON APRIL 07, 2004 THE SUBJECT CHANGED ITS CORPORATE NAME TO INDUKERN DO BRASIL QUIMICA LTDA.

 

THE COMPANY OPERATES WITH THE TRADE NAME "INDUKERN".

 

PARTNERS:

 

INDUKERN S/A. IS A LEGALLY ESTABLISHED COMPANY HEADQUARTERED IN C/TEODORA LAMADRID, 7-11, BARCELONA, SPAIN,

 

3K ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA: ESTABLISHED HEADQUARTERED IN RUA VICENTE RODRIGUES DA SILVA 570, SALA 01, OSASCO/SP.

 

BUSINESS ADDRESS HAS CHANGED FROM "AV. FRANZ VOEGELI, 959 - OSCASCO/SP" TO THE PRESENT REGISTERED ONE.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

WHEN CONTACTING THE SUBJECT WE INTERVIEWED MR. RENATO, 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.

 

PUBLIC RECORDS INFORMATION:

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

FEDERAL LAWSUIT

03/06/11

2ª VARA DE SP-OSASCO

 

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/12/2008 AND 31/12/2007.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2008

31/12/2007

 

 

 

 

 

CASH AND BANKS

982.719,00

49.504,00

 

CLIENTS

16.672.152,00

13.210.061,00

 

INVENTORY

14.018.532,00

6.974.866,00

 

ACCOUNTS RECEIVABLE

1.750.363,00

1.889.343,00

 

RECOVERABLE TAXES

3.414.220,00

575.858,00

 

IMPORTS IN PROGRESS

15.170.343,00

8.885.621,00

 

DEFERRED EXPENSES

167.937,00

 

 

 

----------------

----------------

 

TOTAL CURRENT ASSETS

52.176.266,00

31.585.253,00

 

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

ACCOUNTS RECEIVABLES

500.317,00

660.000,00

 

INVESTMENTS

2.299.656,00

255.279,00

 

TAX BENEFITS

 

31.571,00

 

 

----------------

----------------

 

TOTAL LONG-TERM RECEIVABLES

2.799.973,00

946.850,00

 

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

1.957.527,00

1.554.440,00

 

 

----------------

----------------

 

TOTAL FIXED ASSETS

1.957.527,00

1.554.440,00

 

 

================

================

 

TOTAL ASSETS

56.933.766,00

34.086.543,00

 

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2008

31/12/2007

 

 

 

 

 

SUPPLIERS

30.627.256,00

19.542.752,00

 

TAXES & CONTRIBUTIONS

878.990,00

492.313,00

 

LOANS AND FINANCING

4.872.084,00

6.675.029,00

 

ACCOUNTS PAYABLE

5.931.239,00

657.466,00

 

 

----------------

----------------

 

TOTAL CURRENT LIABILITIES

42.309.569,00

27.367.560,00

 

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

LOANS AND FINANCING

1.770.536,00

 

 

ACCOUNTS PAYABLE

915.722,00

780.722,00

 

 

----------------

----------------

 

TOTAL LONG TERM LIABILITIES

2.686.258,00

780.722,00

 

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

500.112,00

500.112,00

 

CAPITAL RESERVES

3.550.471,00

3.550.471,00

 

ACCRUED PROFIT (LOSS)

1.539.365,00

1.887.678,00

 

PROFIT (LOSS) OF PERIOD

6.347.991,00

 

 

 

----------------

----------------

 

TOTAL NET EQUITY

11.937.939,00

5.938.261,00

 

 

================

================

 

TOTAL LIABILITIES

56.933.766,00

34.086.543,00

 

 

PROFIT AND LOSS ACCOUNTS AS OF 31/12/2008 AND 31/12/2007.

( FIGURES ARE IN REAIS ).

 

 

31/12/2008

31/12/2007

 

 

 

 

 

GROSS SALES

161.815.719,00

141.362.834,00

 

(-) TAXES ON SALES

27.874.225,00

24.670.437,00

 

 

----------------

----------------

 

NET SALES

133.941.494,00

116.692.397,00

 

(-) COST OF SOLD GOODS

101.035.917,00

102.810.883,00

 

 

----------------

----------------

 

GROSS PROFIT

32.905.577,00

13.881.514,00

 

OPERATING REVENUE (EXPENSE)

-16.038.032,00

-12.862.358,00

 

FINANCIAL REVENUE(EXPENSE)

-3.977.401,00

-875.572,00

 

 

----------------

----------------

 

OPERATIONAL PROFIT (LOSS)

12.890.144,00

143.584,00

 

NON-OPERATING RESULT

-3.885.924,00

 

 

CONTRIBUTION/INCOME TAX

-2.656.230,00

-366.257,00

 

 

----------------

----------------

 

NET PROFIT (LOSS)

6.347.990,00

-222.673,00

 

 

RATIOS:

31/12/2008                 

31/12/2007

 

 

QUICK RATIO

,90

 

,90

 

 

 

CURRENT RATIO

1,23

 

1,15

 

 

 

ACCOUNTS RECEIVABLE TURNOVER

8,03

TIMES

8,83

TIMES

 

 

DAYS' SALES IN RECEIVABLES

44,81

DAYS

40,75

DAYS

 

 

INVENTORY TURNOVER

7,21

TIMES

14,74

TIMES

 

 

ACCOUNTS PAYABLE PERIOD

109,13

DAYS

68,43

DAYS

 

 

RETURN ON ASSETS

2,35

TIMES

3,42

TIMES

 

 

SALES TURNOVER ON NET EQUITY

11,22

TIMES

19,65

TIMES

 

 

NET WORTH TIE-UP

,16

 

,26

 

 

 

INDEBTEDNESS

3,77

 

4,74

 

 

 

EQUITY RATIO

20,97

%

17,42

%

 

 

WORKING CAPITAL RATIO

23,32

%

15,41

%

 

 

GENERAL SOLVENCY

1,27

 

1,21

 

 

 

RETURN ON NET EQUITY

53,17

%

-3,75

%

 

 

RETURN ON SALES (PROFIT MARGIN)

4,74

%

-,19

%

 

 

GROSS PROFIT MARGIN

24,57

%

11,90

%

 

 

OPERATIONAL RESULT

9,62

%

,12

%

 

 

SALES TURNOVER ON LIABILITIES

3,17

TIMES

4,26

TIMES

 

 

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 1,61

 - OFFICIAL RATE ON 26/08/2011

US$ 1,00 = R$ 2,33

 - OFFICIAL RATE ON 31/12/2008

US$ 1,00 = R$ 1,77

 - OFFICIAL RATE ON 31/12/2007

 

 

COMMENTS ON THE FINANCIAL INFORMATION

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS.

 

THE FIGURES AVAILABLE SHOW A NORMAL FINANCIAL STANDING. THE LEVEL OF INDEBTEDNESS IS VERY HIGH BUT IT IS NOTED GOOD CURRENT RATIO AND POSITIVE WORKING CAPITAL AMOUNT. IN ADDITION IT SHOWS RECOVERY IN SALES AND MADE PROFIT.

 

REAL ESTATE:

 

OWNED PREMISES ARE VALUED AT R$ 361.382,00

 

VEHICLES:

 

OWNED VEHICLES ARE VALUED AT R$ 921.430,00

 

MACHINES:

 

OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 296.906,00

 

 

INSURANCE

 

THE SUBJECT IS SAID TO HOLD INSURANCE POLICIES BUT DETAILS WERE NOT DISCLOSED.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO DO BRASIL S/A

11 5644-5400

 

BANCO BRADESCO S/A

11 4689-4604

 

BANCO REAL (SANTANDER) S/A

11 3174-6312

 

 

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

 

THE SUBJECT IS ENGAGED IN THE WHOLESALE, IMPORT AND EXPORT OF CHEMICALS FOR VETERINARY, PHARMACEUTICAL AND INDUSTRIAL USAGE.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

SPAIN, CHINA, INDIA, ARGENTINA, HOLLAND, SWITZERLAND, UNITED STATES, CHILE AND GERMANY.

 

EXPORTS TO:

NOT AVAILABLE.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

3.500 CLIENTS APPROXIMATELY

 

 

 

STAFF:

 

THE COMPANY HAS: 95 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS SINCE 1993 WITH A CLEAR TRADE HISTORY AND NORMAL PAYMENT BEHAVIOUR.

 

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.

 

THE LAWSUIT REPORTED IS NOT RELATED WITH TRADE DEBT. IT IS RELATED TO TAX DEBT THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUIT DOES NOT AFFECT THE COMPANY’S TRADE REPUTATION.

 

MAIN SUPPLIERS

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

ADISSEO

 

11 3741-7747

AJINOMOTO BIOLATINA

 

11 5579-6971

BASF  S/A

 

11  751-2776

CIA NACIONAL DE ALCALIS

 

22 2622-9892

COPERBRÁS

 

11  226-8502

COSMOQUIMICA INDÚSTRIA E COMÉRCIO LTDA

 

11 4772-4900

DEGUSSA BRASIL

 

11 3146-4100

FOSBRASIL

 

11 5505-0777

LABORATÓRIOS PFIZER

 

51  217-9144

MERCOCÍTRICO FERMENTAÇÕES S/A

 

11 5090-3997

PETROBRÁS DISTRIBUIDORA S/A-BR

 

19  735-6801

QUÍMICA ANASTACIO IND. COMÉRCIO LTDA

 

11 2133-6680

RHODIA NUTRIÇÃO ANIMAL

 

11 3741-7747

SANNOH/CHINOOK

 

11 3171-2533

SQM IODO DO BRASIL

 

11 7296-6654

 

FOREIGN SUPPLIERS:

COUNTRY:

 

AUROBINDO

UNITED STATES

 

AVEBE

ARGENTINA

 

BIOVET PESHTERA

BULGARIA

 

BUDENHEIN

GERMANY

 

CHEMOTECNICA S/A

ARGENTINA

 

INDUKERN

SPAIN / CHINA / INDIA

 

INDUKERN CHEMIE

SWITZERLAND

 

ITALCOLOR

HOLLAND

 

NITRANCHILE

CHILE

 

 

PAYMENT HISTORY:

 

6 SUPPLIERS REPORTED PAYMENTS:

TOTAL AMOUNT:  R$ 311.743,00

 

AMOUNT OF INVOICES PAID: 52

TOTAL OF PROMPT PAYMENTS: 85,7%

TOTAL OF DELAYED PAYMENTS: 14,3%

 

HIGHEST INVOICE: R$ 15.318,00

HIGHEST CREDIT: R$ 15.318,00

 

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS. UP TO DATE IT HAS A NORMAL FINANCIAL STANDING BUT A CLEAR TRADE HISTORY AND NORMAL PAYMENT BEHAVIOUR.

 

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.

 

A CREDIT LIMIT OF USD 1.000.000,00 MAY BE CONSIDERED.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.87

UK Pound

1

Rs.75.14

Euro

1

Rs.66.67

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.