MIRA INFORM REPORT

 

 

 

Report Date :

08.01.2011

 

IDENTIFICATION DETAILS

 

Name :

ATS COLOR DO BRASIL LTDA

 

 

Registered Office :

Rua Minas Gerais,193 201 - Vila Oriental 09.941-760 - Diadema/Sp

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

01.11.1999

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale Of Paint, Varnish And Related Products

 

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 200.000.00

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Brazil

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

ATS COLOR DO BRASIL LTDA

 

 

company ADDRESSES

 

MAIN ADDRESS:

RUA MINAS GERAIS,193 201 - VILA ORIENTAL

ZIP CODE/CITY:

09.941-760 - DIADEMA/SP

 

 

PHONE:

11 4071-0489

FAX:

11 4071-0489

E-MAIL:

atscolorbr@uol.com.br

 

BRANCHES:

 

 

 

ADDRESS:

RUA GERALS,409 VILA ORIENTAL

ZIP CODE/CITY:

09941-760 DIADEMA/SP

 

 

ADDRESS:

RODOVIA ITAJUBA X LORENA KM,65 S/N

ZIP CODE/CITY:

12620-000 PIQUTE/SP

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

WHOLESALE OF PAINT, VARNISH AND RELATED PRODUCTS.

                               

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

01/11/1999

REGISTER DATE:

12/11/1999

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

03.521.096/0001-21

STATE REGISTER:

286.255.760.110

 

 

SHARE CAPITAL:

R$ 50.000,00

LAST REGISTER OF CAPITAL:

30/11/1999

 

BOARD OF DIRECTORS:

 

 

 

PAULO VICTOR ALIANDRO DRUMOND

MANAGING PARTNER

OLGA MOURAO DRUMOND

MANAGING PARTNER

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGING PARTNERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

PAULO VICTOR ALIANDRO DRUMOND

90%

OLGA MOURAO DRUMOND

10%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

NOT AVAILABLE.

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON NOVEMBER 12, 1999 TO BE ENGAGED IN THE SAID LINE OF BUSINESS.

 

PARTNERS:

 

PAULO VICTOR ALIANDRO DRUMOND: BRAZILIAN, HOLDER OF DOCUMENTS CPF 28.850.968-45, RG 9803140, SSP/SP, RESIDENTIAL ADDRESS AV. ARATANS 515, APTO 13, SÃO PAULO/SP.

 

OLGA MOURAO DRUMOND: BRAZILIAN, HOLDER OF DOCUMENTS CPF 81.478.898-01, RG 108294250, SSP/SP, RESIDENTIAL ADDRESS AV. ARATANS 515, APTO 13, SÃO PAULO/SP.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

PUBLIC RECORDS INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/12/2009 AND 31/12/2008.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2009

31/12/2008

 

 

 

 

 

CASH AND BANKS

638.673,61

301.099,33

 

INVESTMENTS

37.701,87

37.701,87

 

CLIENTS

1.536.745,21

1.090.382,27

 

INVENTORY

878.340,78

387.975,03

 

RECOVERABLE TAXES

231.686,98

193.010,45

 

ADVANCES

 

4.577,59

 

 

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

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

 

TOTAL CURRENT ASSETS

3.323.148,45

2.014.746,54

 

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

242.784,19

282.043,18

 

DEFERRED

-2.064,92

-938,60

 

 

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

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

 

TOTAL FIXED ASSETS

240.719,27

281.104,58

 

 

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

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

 

TOTAL ASSETS

3.563.867,72

2.295.851,12

 

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2009

31/12/2008

 

 

 

 

 

SUPPLIERS

1.602.146,60

1.026.727,88

 

LABOR OBLIGATIONS

477.293,83

451.008,10

 

TRIBUTARY OBLIGATIONS

221.337,16

88.985,62

 

NOTES PAYABLE

747,65

123.738,59

 

 

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

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

 

TOTAL CURRENT LIABILITIES

2.301.525,24

1.690.460,19

 

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

 

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

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

 

TOTAL LONG TERM LIABILITIES

 

 

 

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

50.000,00

50.000,00

 

ACCRUED PROFIT (LOSS)

1.212.342,48

555.390,93

 

 

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

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

 

TOTAL NET EQUITY

1.262.342,48

605.390,93

 

 

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

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

 

TOTAL LIABILITIES

3.563.867,72

2.295.851,12

 

 

PROFIT AND LOSS ACCOUNTS AS OF 31/12/2009 AND 31/12/2008.

( FIGURES ARE IN REAIS ).

 

 

31/12/2009

31/12/2008

 

 

 

 

 

GROSS SALES

16.506.573,12

12.695.213,33

 

(-) TAXES ON SALES

3.192.573,01

2.388.091,51

 

 

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

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

 

NET SALES

13.314.000,11

10.307.121,82

 

(-) COST OF SOLD GOODS

10.655.774,41

8.600.712,08

 

 

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

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

 

GROSS PROFIT

2.658.225,70

1.706.409,74

 

OPERATING REVENUE (EXPENSE)

-1.649.861,32

-1.325.858,17

 

FINANCIAL REVENUE(EXPENSE)

-48.799,75

-40.940,11

 

 

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

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

 

OPERATIONAL PROFIT (LOSS)

959.564,63

339.611,46

 

CONTRIBUTION/INCOME TAX

-302.613,08

-91.467,90

 

 

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

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

 

NET PROFIT (LOSS)

656.951,55

248.143,56

 

 

MONTHLY SALES

 

  2007

  2006

 

 

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

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

 

JANUARY

R$ 619.945,85

R$ 535.527,07

 

FEBRUARY

R$ 764.834,93

R$ 388.255,08

 

MARCH

R$ 735.519,23

R$ 556.371,36

 

APRIL

 

R$ 585.652,74

 

MAY

 

R$ 747.064,56

 

JUNE

 

R$ 679.435,07

 

JULY

 

R$ 709.974,28

 

AUGUST

 

R$ 726.083,89

 

SEPTEMBER

 

R$ 651.662,40

 

OCTOBER

 

R$ 711.594,24

 

NOVEMBER

 

R$ 707.769,83

 

DECEMBER

 

R$ 633.326,00

 

TOTAL

R$ 2.120.300,01

R$ 7.632.716,52

 

 

RATIOS:

31/12/2009

31/12/2008

 

 

QUICK RATIO

1,06

 

,96

 

CURRENT RATIO

1,44

 

1,19

 

ACCOUNTS RECEIVABLE TURNOVER

8,66

TIMES

9,45

TIMES

DAYS' SALES IN RECEIVABLES

41,55

DAYS

38,08

DAYS

INVENTORY TURNOVER

12,13

TIMES

22,17

TIMES

ACCOUNTS PAYABLE PERIOD

54,13

DAYS

42,98

DAYS

RETURN ON ASSETS

3,74

TIMES

4,49

TIMES

SALES TURNOVER ON NET EQUITY

10,55

TIMES

17,03

TIMES

NET WORTH TIE-UP

,19

 

,47

 

INDEBTEDNESS

1,82

 

2,79

 

EQUITY RATIO

35,42

%

26,37

%

WORKING CAPITAL RATIO

44,39

%

19,18

%

GENERAL SOLVENCY

1,55

 

1,36

 

RETURN ON NET EQUITY

52,04

%

40,99

%

RETURN ON SALES (PROFIT MARGIN)

4,93

%

2,41

%

GROSS PROFIT MARGIN

19,97

%

16,56

%

OPERATIONAL RESULT

7,21

%

3,29

%

SALES TURNOVER ON LIABILITIES

5,78

TIMES

6,10

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 1,68

 - OFFICIAL RATE ON 06/01/2011

US$ 1,00 = R$ 1,74

 - OFFICIAL RATE ON 31/12/2009

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 FIGURES AVAILABLE SHOW A NORMAL FINANCIAL STANDING. IT SHOWS HIGH LEVEL OF INDEBTEDNESS BUT MAINLY IS COMPRISED BY TRADE LIABILITIES AND IT IS NOTED GOOD LIQUIDITY RATIOS WITH POSITIVE WORKING CAPITAL AMOUNT, CONSIDERED ENOUGH TO COVER THE SHORT-TERM LIABILITIES. IN ADDITION THE COMPANY OPERATES WITH GROWING SALES AND PROFITABILITY.

 

REAL ESTATE:

THE PARTNERS OWN REAL ESTATE VALUED AT  R$ 1.000.000,00

 

 

VEHICLES:

OWNED VEHICLES ARE VALUED AT R$ 100.000,00

 

MACHINES:

OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 276.385,99

 

 

INSURANCE

 

INSURANCE COMPANY:

YASUDA

COVERAGE:

 

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

CITIBANK S/A

11 4009-2434

SÃO PAULO/SP

ITAUBANK S/A

11 3842-1617

SÃO PAULO/SP

BANCO SAFRA S/A

11 3265-2214

 

 

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 NOT RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

ACTIVITIES COMMENTS

 

SUBJECT IS ENGAGED IN THE WHOLESALE OF PAINT, VARNISH AND RELATED PRODUCTS.

 

IMPORT AND EXPORT:

 

   IMPORTS FROM:

NOT AVAILABLE.

 

   EXPORTS TO:

NOT AVAILABLE.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

PHONE:

ARCO CONVERT

 

11 2061-8099

PEEQFLEX INDUSTRIA E COMERCIO LTDA

 

11 5693-5463

PLASTICOM

 

48 3258-1514

QUALYPRINT INDUSTRIA E COMERCIO LTDA

 

11 4071-0606

TECNOVAL LAMINADOS

 

12 3159-2400

ZARAPLAST S/A

 

11 3952-3000

 

STAFF:

 

THE COMPANY HAS: 30 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A FAMILY-RUN COMPANY WHICH WAS ESTABLISHED IN 1999. SO FAR IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOR.

 

THE COMPANY HAS TRADE RELATIONS WITH SOME 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.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

AGRO QUIMICIA MARINGA S/A

 

 

ALCOOL SANTA CRUZ LTDA

 

 

ATLANTA QUIMICA INDUSTRIAL LTDA

 

11 2413-4100

BOIANAIN

 

 

CIBA

 

11 5532-7414

CLARIANT

 

11 5683-7543

IQ SOLUÇÕES & QUIMICA S/A

 

 

MAKENI CHEMICALS COMERCIO IND. PROD. QUIMICOS LTDA

 

11 4360-6474

QUIMIFUOR CHEMICALS LTDA

 

11 2409-3777

 

PAYMENT HISTORY:

 

07 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 840.761,00

 

AMOUNT OF INVOICES PAID: 332

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 9.330,00

HIGHEST CREDIT: R$ 20.367,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 30 DAYS:

 

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

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

3

20

R$ 43.714,66

 

 

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 PERFORMANCE.

 

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 200.000.00 MAY BE CONSIDERED.

 

 

 

ATS COLOR DO BRASIL LTDA

 

 

 

 

BALANCE SHEET ANALYSIS

FIGURES ARE IN REAIS

 

 

 

 

31-12-09

 

31-12-08

 

ASSETS

 

%

 

%

Current Assets

 $              3,323,148

93.25

 $              2,014,747

87.76

Fixed Assets

 $                 240,719

6.75

 $                 281,105

12.24

TOTAL ASSETS

 $              3,563,868

100.00

 $              2,295,851

100.00

LIABILITIES

 

 

 

 

Current Liabilities

 $              2,301,525

64.58

 $              1,690,460

73.63

Long-Term Liabilities

 $                            -  

0.00

 $                            -  

0.00

TOTAL LIABILITIES

 $              2,301,525

64.58

 $              1,690,460

73.63

Deferred Income

 $                            -  

0.00

 $                            -  

0.00

Net Equity

 $              1,262,342

35.42

 $                 605,391

26.37

TOTAL LIABILITIES + NET EQUITY

 $              3,563,868

100.00

 $              2,295,851

100.00

PROFIT AND LOSS ACCOUNTS

 

 

 

 

Net Sales

 $            13,314,000

100.00

 $            10,307,122

100.00

Costs

 $            10,655,774

80.03

 $              8,600,712

83.44

Gross Profit

 $              2,658,226

19.97

 $              1,706,410

16.56

Operating expenses

 $             (1,649,861)

-12.39

 $             (1,325,858)

-12.86

operational Result

 $                 959,565

7.21

 $                 339,611

3.29

Net Profit (loss)

 $                 656,952

4.93

 $                 248,144

2.41

COMPLEMENTARY DATA

 

 

 

 

Inventory

 $                 878,341

 

 $                 387,975

 

Accounts receivable

 $              1,536,745

 

 $              1,090,382

 

Accounts Payable

 $              1,602,147

 

 $              1,026,728

 

Property, plant and equipment

 $                 242,784

 

 $                 282,043

 

Purchases

 $                 240,719

 

 $                 281,105

 

Financial Expenses

 $                  (48,800)

 

 $                  (40,940)

 

Foreign Currency Assets

 

 

 

 

Foreign Currency Liabilities

 

 

 

 

Working Capital

 $              1,021,623

 

 $                 324,286

 

RATIOS:

 

 

 

 

QUICK RATIO

                           1.06

 

                           0.96

 

CURRENT RATIO

                           1.44

 

                           1.19

 

ACCOUNTS RECEIVABLE TURNOVER

                           8.66

times

                           9.45

times

DAYS' SALES IN RECEIVABLES

                         41.55

days

                         38.08

days

INVENTORY TURNOVER

                         12.13

times

                         22.17

times

ACCOUNTS PAYABLE PERIOD

                         54.13

days

                         42.98

days

RETURN ON ASSETS

                           3.74

times

                           4.49

times

SALES TURNOVER ON NET EQUIY

                         10.55

times

                         17.03

times

NET WORTH TIE-UP

                           0.19

 

                           0.47

 

ENDEBTEDNESS

                           1.82

 

                           2.79

 

EQUITY RATIO

                         35.42

%

                         26.37

%

WORKING CAPITAL RATIO

                         44.39

%

                         19.18

%

GENERAL SOLVENCY

                           1.55

 

                           1.36

 

RETURN ON NET EQUITY

                         52.04

%

                         40.99

%

RETURN ON SALES (PROFIT MARGIN)

                           4.93

%

                           2.41

%

GROSS PROFIT MARGIN

                         19.97

%

                         16.56

%

OPERATIONAL RESULT

                           7.21

%

                           3.29

%

SALES TURNOVER ON LIABILITIES

                           5.78

times

                           6.10

times

FOREIGN CURRENCY ON ASSETS

                               -  

%

                               -  

%

FOREIGN CURRENCY ON LIABILITIES

                               -  

%

                               -  

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.70.38

Euro

1

Rs.58.93

 

 

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.