MIRA INFORM REPORT
|
Report Date : |
02.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
CIA. HERING |
|
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Registered Office : |
Rua Hermann Hering,1790 - Bom Retiro, Zip Code 89010-900 - Blumenau/Sc |
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Country : |
Brazil |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
19.08.1985 |
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Legal Form : |
Publicly Held Corporation |
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Line of Business : |
Manufacture of textiles. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment
Behaviour : |
Usually Correct |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Brazil |
A2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
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 name
CIA. HERING
company ADDRESSES
|
MAIN ADDRESS: |
RUA HERMANN HERING,1790 - BOM RETIRO |
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ZIP CODE/CITY: |
89010-900 - BLUMENAU/SC |
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PHONE: |
47 3321-3544 |
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FAX: |
47 3321-3155 |
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E-MAIL: |
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WEB SITE: |
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BRANCHES: |
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ADDRESS: |
RUA DO ROCIO,430 - VILA OLIMPIA |
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ZIP CODE/CITY: |
04552-000 SÃO PAULO/SP |
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ADDRESS: |
RUA VPR 3 - S/Nº.,0 |
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ZIP CODE/CITY: |
75133-600 ANÁPOLIS/GO |
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THE SUBJECT HAS 276 STORES THROUGHOUT BRAZIL. |
LEGAL DATA
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF TEXTILES. |
|
LEGAL FORM: |
PUBLICLY
HELD CORPORATION |
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|
|
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INCORPORATION DATE: |
19/08/1985 |
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REGISTER DATE: |
21/08/1985 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
78.876.950/0001-71 |
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STATE REGISTER: |
251.213.749 |
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|
|
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SHARE CAPITAL: |
R$
229.879.422,12 |
|
LAST REGISTER OF CAPITAL: |
30/05/2011 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
FABIO HERING |
PRESIDENT DIRECTOR |
|
RONALDO LOOS |
COMMERCIAL DIRECTOR |
|
CARLOS TAVARES D´AMARAL |
ADMINISTRATIVE DIRECTOR |
|
FREDERICO DE AGUIAR OLDANI |
FINANCIAL DIRECTOR |
|
MARCOS RIBEIRO GOMES |
MARKETING DIRECTOR |
|
EDGAR DE OLIVEIRA FILHO |
INDUSTRIAL DIRECTOR |
|
MOACYR JOSÉ MATHEUSSI |
DIRECTOR |
AUTHORIZED USE OF SIGNATURE:
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
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INVESTIMENTOS E PARTICIPAÇÕES INPASA S/A |
9,00% |
|
IVO HERING |
7,20% |
|
AMUNDI GESTORA |
5,06% |
|
OTHERS |
73,74% |
|
LONE PINE CAPITAL LLC |
5,00% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
TÊXTIL SANTA CATARINA LTDA. |
100,00% |
|
VH SERVIÇOS E CONSTRUÇÕES S.A. |
94,16% |
|
GAREMA MALHAS LTDA. |
100,00% |
|
HRG COMÉRCIO DO VESTUÁRIO E INTERMED. DE SERV. FINAN. LTDA |
99,99% |
|
HERING INTERNACIONAL SAFI (URUGUAY) |
100,00% |
|
HERING OVERSEAS LTD. (CAYMAN ISLANDS) |
100,00% |
COMPANY'S BACKGROUND
|
THE CONCERN WAS ORIGINALLY ESTABLISHED AS GEBRUEDER HERING (HERING
BROTHERS), IN BLUMENAU, STATE OF SANTA CATARINA IN 1880 BY TWO BROTHERS,
HERMANN AND BRUNO HERING. IN 1915 THE SUBJECT'S CORPORATE NAME CHANGED TO "HERING & CO.
AND IN 1929 MODIFIED ITS STYLE INTO JOINT-STOCK COMPANY AND NAME TO "CIA
HERING". ON MAY 24, 1941, ALTERED ITS NAME TO INDÚSTRIA TEXTIL COMPANHIA
HERING. IN 1963, ACQUIRED THE LICENSE TO MANUFACTURE PRODUCTS UNDER THE
"DISNEY" BRAND (THE FIRST COMPANY IN SOUTH AMERICA). FROM 1967, THE
COMPANY REORGANIZED MODERNIZED AS WELL AS ENLARGED ITS INDUSTRIAL PLANT BY
ACQUIRING LOCAL TEXTILE INDUSTRIES SUCH AS MAFISA - MALHARIA BLUMENAU S/A AND
BROADENING ITS LICENSED TRADEMARKS SUCH AS "WRANGLER" THUS BECOMING
ONE OF, IF NOT, THE LARGEST TEXTILE INDUSTRIES IN LATIN AMERICA. IN 1973 SET-UP CEVAL ALIMENTOS S/A, COMPANY ENGAGED IN THE CEREALS
PROCESSING, ESPECIALLY SOY, GRAINS, OILS AND BYPRODUCTS. IN SEPTEMBER 1997,
THE SUBJECT ESTABLISHED THE CEVAL PARTICIPAÇÕES S/A, WHICH BECAME THE HOLDING
COMPANY OF CEVAL ALIMENTOS S/A. IN 1997, UPON THE SHAREHOLDERS' DECISION TO
FOCUS ON THE TEXTILE INDUSTRY, THEY SOLD-UP CEVAL PARTICIPAÇÕES TO THE BUNGE
GROUP. THE SUBJECT WAS REGISTERED ON AUGUST 19, 1985, AT THE STATE OF SANTA
CATARINA REGISTRATION OFFICE, UNDER # 42300020401. IN APRIL 1999, THE COMPANIES CIA HERING AND HERING S/A COMÉRCIO
EXTERIOR WERE TAKEN OVER BY HERING TÊXTIL S/A AND AT THE SAME DATE THE
REGISTERED NAME WAS CHANGED TO CIA HERING, WHICH OPERATES TO DATE. PREVIOUS NAME HERING TEXTIL S/A. FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY ARE SO FAR NOT KNOWN. |
|
PUBLIC
INFORMATION: |
|
PROTESTS: |
|
1 PROTEST,TOTAL AMOUNT R$
1.785,57 |
|
DETAILS OF LATEST PROTESTS: |
|
NOTARY OFFICE: |
DATE: |
VALUE: |
|
1º CARTORIO DE ANAPOLIS/GO |
26/10/2011 |
R$ 1.785,57 |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
1 |
FEDERAL LAWSUIT |
30/04/08 |
VARA DE BLUMENAU/SC |
FINANCIAL INFORMATION
|
GENERAL BALANCE SHEETS AS OF 30/09/2011, 31/12/2010 AND 31/12/2009. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
30/09/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
CASH AND BANKS |
183.092 |
110.901 |
98.442 |
|
CLIENTS |
290.420 |
295.422 |
215.451 |
|
INVENTORY |
223.104 |
176.692 |
89.375 |
|
RECOVERABLE TAXES |
16.844 |
6.985 |
4.306 |
|
ACCOUNTS RECEIVABLE |
|
10.139 |
6.318 |
|
DEFERRED TAXES |
|
|
15.169 |
|
INVESTMENTS |
|
394 |
|
|
PRE PAID EXPENSES |
944 |
340 |
|
|
OTHER CREDITS |
11.639 |
|
363 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
726.043 |
600.873 |
429.424 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
ACCOUNTS RECEIVABLES |
1.773 |
8.680 |
14.098 |
|
INVESTMENTS |
913 |
863 |
720 |
|
RECOVERABLE TAXES |
8.248 |
8.048 |
4.807 |
|
COMPULSORY LOANS |
58 |
58 |
4.530 |
|
DEFERRED TAXES |
16.318 |
18.041 |
5.297 |
|
INTERCOMPANY CREDITS |
225 |
398 |
1.616 |
|
OTHER CREDITS |
6.815 |
1.773 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
34.350 |
37.861 |
31.068 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
6.623 |
5.229 |
201.603 |
|
FIXED ASSETS |
229.572 |
224.225 |
175.245 |
|
INTANGIBLE |
27.754 |
26.089 |
14.093 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
263.949 |
255.543 |
390.941 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
1.024.342 |
894.277 |
851.433 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
30/09/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
LOANS AND FINANCING |
25.796 |
27.799 |
36.926 |
|
SUPPLIERS |
111.440 |
108.770 |
54.070 |
|
TAXES & CONTRIBUTIONS |
39.707 |
20.417 |
41.291 |
|
PROVISIONS |
24.186 |
29.773 |
24.870 |
|
ACCOUNTS PAYABLE |
4.228 |
7.947 |
5.645 |
|
DIVIDENDS |
34.671 |
14.883 |
26.316 |
|
SOCIAL OBLIGATIONS |
11.377 |
9.285 |
|
|
LABOR OBLIGATIONS |
25.789 |
17.422 |
|
|
INSTALLMENTS TAXES PAYABLE |
8.041 |
8.104 |
|
|
OTHER DEBTS |
4.814 |
2.896 |
|
|
|
---------------- |
---------------- |
---------------- |
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TOTAL CURRENT LIABILITIES |
290.049 |
247.296 |
189.118 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
15.750 |
26.105 |
208.161 |
|
PROVISIONS |
7.612 |
11.215 |
4.512 |
|
INTERCOMPANY DEBTS |
2.912 |
2.600 |
29.058 |
|
TAX INCENTIVES |
519 |
40.931 |
38.858 |
|
DEFERRED TAXES |
5.021 |
5.229 |
29.000 |
|
INSTALLMENTS TAXES PAYABLE |
23.263 |
28.804 |
30.645 |
|
TRIBUTARY OBLIGATIONS |
|
530 |
684 |
|
OTHER |
606 |
3.343 |
4.970 |
|
TAX INCENTIVES |
41.915 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
97.598 |
118.757 |
345.888 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
229.879 |
226.293 |
223.845 |
|
CAPITAL RESERVES |
3.408 |
2.091 |
906 |
|
PROFIT RESERVES |
251.593 |
291.056 |
91.676 |
|
ACCRUED PROFIT (LOSS) |
143.300 |
|
|
|
OTHER COMPREHENSIVE INCOME |
8.515 |
8.784 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
636.695 |
528.224 |
316.427 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
1.024.342 |
894.277 |
851.433 |
|
PROFIT AND LOSS ACCOUNTS AS OF 30/09/2011, 31/12/2010 AND 31/12/2009. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
30/09/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
GROSS SALES |
1.146.500 |
1.234.442 |
876.702 |
|
(-) TAXES ON SALES |
202.483 |
221.597 |
155.975 |
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
944.017 |
1.012.845 |
720.727 |
|
(-) COST OF SOLD GOODS |
497.675 |
511.554 |
380.075 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
446.342 |
501.291 |
340.652 |
|
OPERATING REVENUE (EXPENSE) |
-207.013 |
-248.498 |
-277.159 |
|
FINANCIAL REVENUE(EXPENSE) |
18.969 |
10.622 |
99.595 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
258.298 |
263.415 |
163.088 |
|
CONTRIBUTION/INCOME TAX |
-66.237 |
-51.398 |
-71.009 |
|
INTERESTS ON OWN CAPITAL |
|
|
22.475 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
192.061 |
212.017 |
114.554 |
|
RATIOS: |
30/09/2011 |
31/12/2010 |
31/12/2009 |
|
QUICK RATIO |
1,73 |
|
1,72 |
|
1,80 |
|
|
CURRENT RATIO |
2,50 |
|
2,43 |
|
2,27 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
3,25 |
TIMES |
3,43 |
TIMES |
3,35 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
83,06 |
DAYS |
105,00 |
DAYS |
107,62 |
DAYS |
|
INVENTORY TURNOVER |
2,23 |
TIMES |
2,90 |
TIMES |
4,25 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
60,46 |
DAYS |
76,55 |
DAYS |
51,21 |
DAYS |
|
RETURN ON ASSETS |
,92 |
TIMES |
1,13 |
TIMES |
,85 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
1,48 |
TIMES |
1,92 |
TIMES |
2,28 |
TIMES |
|
NET WORTH TIE-UP |
,36 |
|
,42 |
|
,55 |
|
|
INDEBTEDNESS |
,61 |
|
,69 |
|
1,69 |
|
|
EQUITY RATIO |
62,16 |
% |
59,07 |
% |
37,16 |
% |
|
WORKING CAPITAL RATIO |
150,32 |
% |
142,98 |
% |
127,07 |
% |
|
GENERAL SOLVENCY |
2,64 |
|
2,44 |
|
1,59 |
|
|
RETURN ON NET EQUITY |
30,17 |
% |
40,14 |
% |
36,20 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
20,35 |
% |
20,93 |
% |
15,89 |
% |
|
GROSS PROFIT MARGIN |
47,28 |
% |
49,49 |
% |
47,27 |
% |
|
OPERATIONAL RESULT |
27,36 |
% |
26,01 |
% |
22,63 |
% |
|
SALES TURNOVER ON LIABILITIES |
3,25 |
TIMES |
4,10 |
TIMES |
3,81 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 1,68 |
- OFFICIAL RATE ON 31/10/2011 |
|
US$ 1,00 = R$ 1,85 |
- OFFICIAL RATE ON 30/09/2011 |
|
US$ 1,00 = R$ 1,66 |
- OFFICIAL RATE ON 31/12/2010 |
|
US$ 1,00 = R$ 1,74 |
- OFFICIAL RATE ON 31/12/2009 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE ANNUAL FIGURES FOR 2010 SHOW A GOOD FINANCIAL STANDING. IT HAD HIGH
LIQUIDITY RATIOS AND IMPORTANT WORKING CAPITAL, AS WELL AS ACCEPTABL LEVEL OF
INDEBTEDNESS. IN ADDITION, IT SHOWED GROWING SALES AND MADE PROFIT. THE QUARTERLY FIGURES FOR SEPTEMBER 2011 STILL SHOW GOOD FINANCIAL
SITUATION AS LIQUIDITY REMAINS GOOD AND THE LEVEL OF INDEBTEDNESS IS LOW. IT
ALSO SHOWS GROWING SALES TREND AND POSITIVE RESULT. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$
113.975.000,00
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$ 530.000,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE
VALUED AT R$ 89.275.000,00
INSURANCE
|
THE COMPANY MAINTAINS INSURANCE COVERAGE IN AMOUNT CONSIDERED
SUFFICIENT BY THE MANAGEMENT TO COVER CONTINGENCY RISKS OVER ITS ASSETS
AND/OR LIABILITIES. IN 30TH SEPTEMBER 2011 THE INSURANCE VALUE WAS R$
78.000.000,00 FOR MATERIAL DAMAGES, R$ 22.000.000,00 FOR CEASING PROFITS AND
R$ 10.000.000,00 FOR CIVIL LIABILITIES. |
BANKING REFERENCES
|
|
BRANCH/PHONE: |
|
|
BANCO DO BRASIL S/A |
47 3321-2300 |
|
|
BANCO BRASDESCO S/A |
47 3326-6388 |
|
|
BANCO ABC BRASIL S/A |
41 3312-1635 |
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|
BANCO BRADESCO S/A |
47 3326-1689 |
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|
BANCO SANTANDER (BRASIL) S/A |
41 3255-6810 |
|
|
BANCO COMERCIAL URUGUAI |
47 3433-7700 |
|
|
BANCO SAFRA S/A |
47 3326-9022 |
|
|
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 OF TEXTILES, WITH ITS CORE PRODUCTS
BEING T-SHIRTS, BLOUSES, TROUSERS, SHORTS, TWIN SET, JACKET, PAJAMAS,
NIGHTDRESS, UNDERWEAR CLOTHES, BACKPACKS, BAGS, SUITCASES, WALLETS, HATS,
CAPS, GLASSES, WATCHES, SLIPPERS, ETC. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
ARGENTINA, UNITED STATES, PARAGUAY, GERMANY AND SWITZERLAND. |
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MAIN
CLIENTS: |
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DOMESTIC
CLIENTS: |
|
|
|
ARTHUR LUNDGREN TECIDOS S/A (CASAS
PERNAMBUCANAS) |
|
|
|
CARREFOUR COM. E IND. LTDA |
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|
CIA BRASILEIRA DE DISTRIBUIÇÃO (PÃO DE
AÇÚCAR) |
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|
LOJA AMERICANAS S/A |
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LOJAS RENNER S/A |
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|
|
MAKRO ATACADISTA S/A |
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MALHASPARIS LTDA |
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|
MUNDO DAS CAMISETAS LTDA |
|
|
|
PALMA & SANTOS LTDA |
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|
|
SONAE DISTRIBUIÇÃO BRASIL S/A |
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EXPORTS TO:
|
UNITED STATES, GERMANY, ITALY, ENGLAND, LATIN AMERICA, ARGENTINA,
PARAGUAY AND CHILE. |
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MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
ARTHUR LUNDGREN TECIDOS S/A (CASAS PERNAMBUCANAS) |
|
|
|
CARREFOUR COM. E IND. LTDA |
|
|
|
CIA BRASILEIRA DE DISTRIBUIÇÃO (PÃO DE AÇÚCAR) |
|
|
|
LOJA AMERICANAS S/A |
|
|
|
LOJAS RENNER S/A |
|
|
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MAKRO ATACADISTA S/A |
|
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|
MALHASPARIS LTDA |
|
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|
MUNDO DAS CAMISETAS LTDA |
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|
|
PALMA & SANTOS LTDA |
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|
|
SONAE DISTRIBUIÇÃO BRASIL S/A |
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STAFF: |
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THE COMPANY HAS: 7786 EMPLOYEE(S) |
CONCEPT AND FULFILMENT
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1985. SO
FAR IT HAS A CLEAR TRADE HISTORY AND VERY GOOD PAYMENT BEHAVIOUR. IT IS ONE
OF THE MOST IMPORTANT COMPANIES IN ITS LINE OF BUSINESS IN BRAZIL AND SO FAR
ITS REPUTATION IS EXCELLENT. 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. THE PROTEST IS IRRELEVANT. |
|
MAIN SUPPLIERS: |
|
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|
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|
DOMESTIC
SUPPLIERS: |
|
PHONE: |
|
BASF S/A |
|
11 3234-5122 |
|
CIBA - GEIGY QUÍMICA S/A |
|
11 3532-7043 |
|
CLARIANT S/A |
|
11 3525-9322 |
|
COATS CORRENTE LTDA |
|
47 3331-8707 |
|
COMPANHIA DE TECIDOS SANTAENSE S.A. |
|
|
|
COMPANHIA VALENÇA INDUSTRIAL |
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COOP AGROP. PROD. INTEGRADA DO PARANÁ LTDA |
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COTEMINAS - CIA DE TECIDOS NORTE DE MINAS |
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COTONIFICIO KURASHIKI DO BRASIL LTDA |
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DAIWA DO BRASIL TÊXTIL LTDA |
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DU PONT DO BRASIL S/A |
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11 3421-8122 |
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DYSTAR LTDA |
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11 3525-7552 |
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FÁBRICA DE CADARÇOS E BORDADOS HACO LTDA |
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FÁBRICA DE TECIDOS CARLOS RENAUX |
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FIAÇÃO E TECELAGEM KANEBO DO BRASIL S/A |
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HACO ETIQUETAS LTDA |
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MALIBER IND. E COM. TÊXTIL S.A. |
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MINASA TRADING INTERNATIONAL S/A |
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QUIMISA S/A INDÚSTRIA E COMÉRCIO |
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47 3350-1010 |
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SANTISTA TÊXTIL S.A. |
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SUAP TÊXTIL S/A |
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TÊXTIL BEZERRA S/A |
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TÊXTIL UNIÃO S/A |
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UNITIKA DO BRASIL INDÚSTRIA TÊXTIL LTDA |
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PAYMENT HISTORY: |
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64 SUPPLIERS REPORTED PAYMENTS: |
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TOTAL AMOUNT: R$ 33.576.064,00 |
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AMOUNT OF INVOICES PAID: 2868 |
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TOTAL OF PROMPT PAYMENTS: 99,5% |
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TOTAL OF DELAYED PAYMENTS: 0,5% |
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HIGHEST INVOICE: R$ 184.831,00 |
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HIGHEST CREDIT: R$ 2.345.051,00 |
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OUTSTANDING
INVOICES DUE WITHIN THE NEXT 91 DAYS: |
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--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
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DUE WITHIN 30 DAYS |
14 |
153 |
R$ 1.146.411,66 |
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DUE WITHIN 60 DAYS |
11 |
148 |
R$ 1.244.911,10 |
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DUE WITHIN 90 DAYS |
7 |
135 |
R$ 1.210.688,11 |
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DUE WITHIN 91 DAYS |
3 |
67 |
R$ 957.014,47 |
FINAL OPINION
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THE SUBJECT IS A WELL-ESTABLISHED AND WELL-KNOWN COMPANY IN BUSINESS
FOR SEVERAL YEARS. UP TO DATE IT HAS A CLEAR TRADE HISTORY AND VERY 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. |
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BALANCE SHEET ANALYSIS |
FIGURES ARE IN THOUSANDS
OF REAIS |
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|
30-09-11 |
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31-12-10 |
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31-12-09 |
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ASSETS |
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% |
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% |
|
% |
|
Current Assets |
70.88 |
$ 600,873 |
67.19 |
$
429,424 |
50.44 |
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Fixed Assets |
$ 263,949 |
25.77 |
$
255,543 |
28.58 |
$
390,941 |
45.92 |
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TOTAL ASSETS |
$ 1,024,342 |
100.00 |
$ 894,277 |
100.00 |
$
851,433 |
100.00 |
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LIABILITIES |
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Current Liabilities |
$ 290,049 |
28.32 |
$ 247,296 |
27.65 |
$
189,118 |
22.21 |
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Long-Term Liabilities |
$ 97,598 |
9.53 |
$ 118,757 |
13.28 |
$
345,888 |
40.62 |
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TOTAL LIABILITIES |
$ 387,647 |
37.84 |
$ 366,053 |
40.93 |
$
535,006 |
62.84 |
|
Deferred Income |
$ - |
0.00 |
$ - |
0.00 |
$ - |
0.00 |
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Net Equity |
$ 636,695 |
62.16 |
$ 528,224 |
59.07 |
$
316,427 |
37.16 |
|
TOTAL LIABILITIES + NET EQUITY |
$ 1,024,342 |
100.00 |
$ 894,277 |
100.00 |
$ 851,433 |
100.00 |
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PROFIT AND LOSS ACCOUNTS |
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Net Sales |
$ 944,017 |
100.00 |
$ 1,012,845 |
100.00 |
$
720,727 |
100.00 |
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Costs |
$ 497,675 |
52.72 |
$ 511,554 |
50.51 |
$
380,075 |
52.73 |
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Gross Profit |
$ 446,342 |
47.28 |
$ 501,291 |
49.49 |
$
340,652 |
47.27 |
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Operating expenses |
$ (207,013) |
-21.93 |
$ (248,498) |
-24.53 |
$
(277,159) |
-38.46 |
|
operational Result |
$ 258,298 |
27.36 |
$ 263,415 |
26.01 |
$
163,088 |
22.63 |
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Net Profit (loss) |
$ 192,061 |
20.35 |
$ 212,017 |
20.93 |
$
114,554 |
15.89 |
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COMPLEMENTARY DATA |
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Inventory |
$ 223,104 |
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$ 176,692 |
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$ 89,375 |
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Accounts receivable |
$ 290,420 |
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$ 295,422 |
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$
215,451 |
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Accounts Payable |
$ 111,440 |
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$ 108,770 |
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$ 54,070 |
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Property, plant and equipment |
$ 229,572 |
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$ 224,225 |
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$
175,245 |
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Purchases |
$ 263,949 |
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$ 255,543 |
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$
390,941 |
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Financial Expenses |
$ 18,969 |
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$ 10,622 |
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$ 99,595 |
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Foreign Currency Assets |
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Foreign Currency Liabilities |
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Working Capital |
$
435,994 |
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$ 353,577 |
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$
240,306 |
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RATIOS: |
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QUICK RATIO |
1.73 |
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1.72 |
|
1.80 |
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CURRENT RATIO |
2.50 |
|
2.43 |
|
2.27 |
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ACCOUNTS RECEIVABLE TURNOVER |
3.25 |
times |
3.43 |
times |
3.35 |
times |
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DAYS' SALES IN RECEIVABLES |
83.06 |
days |
105.00 |
days |
107.62 |
days |
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INVENTORY TURNOVER |
2.23 |
times |
2.90 |
times |
4.25 |
times |
|
60.46 |
days |
76.55 |
days |
51.21 |
days |
|
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RETURN ON ASSETS |
0.92 |
times |
1.13 |
times |
0.85 |
times |
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SALES TURNOVER ON NET EQUIY |
1.48 |
times |
1.92 |
times |
2.28 |
times |
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NET WORTH TIE-UP |
0.36 |
|
0.42 |
|
0.55 |
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ENDEBTEDNESS |
0.61 |
|
0.69 |
|
1.69 |
|
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EQUITY RATIO |
62.16 |
% |
59.07 |
% |
37.16 |
% |
|
WORKING CAPITAL RATIO |
150.32 |
% |
142.98 |
% |
127.07 |
% |
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GENERAL SOLVENCY |
2.64 |
|
2.44 |
|
1.59 |
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RETURN ON NET EQUITY |
30.17 |
% |
40.14 |
% |
36.20 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
20.35 |
% |
20.93 |
% |
15.89 |
% |
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GROSS PROFIT MARGIN |
47.28 |
% |
49.49 |
% |
47.27 |
% |
|
OPERATIONAL RESULT |
27.36 |
% |
26.01 |
% |
22.63 |
% |
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SALES TURNOVER ON LIABILITIES |
3.25 |
times |
4.10 |
times |
3.81 |
times |
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FOREIGN CURRENCY ON ASSETS |
- |
% |
- |
% |
- |
% |
|
FOREIGN CURRENCY ON LIABILITIES |
- |
% |
- |
% |
- |
% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
UK Pound |
1 |
Rs.78.78 |
|
Euro |
1 |
Rs.67.76 |
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
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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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.