MIRA INFORM REPORT

 

 

Report Date :

16.04.2012

 

IDENTIFICATION DETAILS

 

Name :

GEOLAB INDÚSTRIA FARMACÊUTICA SA

 

 

Registered Office :

Via Principal 1- B, S/Nº. Quadra 08-B Lotes 01 A 08, Bairro Daia 75133-590 - Anápolis/Go

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

14.10.1999

 

 

Legal Form :

Privately Held Corporation

 

 

Line of Business :

Manufacture Of Pharmaceuticals.

 

 

No. of Employees :

873

 

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 :

US$ 1.000.000,00

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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

 

GEOLAB INDÚSTRIA FARMACÊUTICA S/A

 

 

ADDRESSES

 

MAIN ADDRESS:

VIA PRINCIPAL 1- B, S/Nº. QUADRA 08-B LOTES 01 A 08, BAIRRO DAIA

ZIP CODE/CITY:

75133-590 - ANÁPOLIS/GO

 

 

PHONE:

62 4015-4000

FAX:

62 4015-4000

E-MAIL:

contabilidade@geolab.com.br

WEB SITE:

www.geolab.com.br

 

BRANCHES:

 

NOT AVAILABLE.

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF PHARMACEUTICALS.

 

LEGAL FORM:

PRIVATELY HELD CORPORATION

 

 

INCORPORATION DATE:

14/10/1999

REGISTER DATE:

28/10/1999

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

03.485.572/0001-04

STATE REGISTER:

10.323.327-0

 

 

SHARE CAPITAL:

R$ 24.500.000,00

 

BOARD OF DIRECTORS:

 

 

 

GEORGE HAJJAR JUNIOR

PRESIDENT DIRECTOR

RIZEK MIKHAIL HAJJAR

DIRECTOR

ANDRE LUIZ HAJJAR

DIRECTOR

 

 

AUTHORIZED USE OF SIGNATURE

 

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

 

SHAREHOLDERS / PARTNERS:

 

 

 

AMÉRICA ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA

51,00%

SERRA DOURADA ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA

30,00%

M-5 ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA

9,00%

TRIO-H ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA

5,00%

PALMARES ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA

5,00%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

EXCEL CONSTRUTORA E INCORPORADORA LTDA

 

AMERICA ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA

 

SERRA DOURADA ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA

 

DIBRA ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA

 

ÉPOCA CONSTRUTORA LTDA

 

ANDISA PARTICIPAÇÕES E INVESTIMENTOS LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON OCTOBER 14, 1999 AS GEOLAB INDUSTRIA FARMACEUTICA E COSMETICA LTDA ME TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON OCTOBER 21, 2008 IT ALTERED TO GEOLAB INDUSTRIA FARMACEUTICA LTDA. ON JUNE 22, 2010 IT ADOPTED THE ABOVE-MENTIONED NAME.

 

TRADE NAME: "GEOLAB".

 

SHAREHOLDERS / PARTNERS:

 

ANDRÉ LUIZ HAJJAR: BRAZILIAN, MARRIED, HOLDER OF DOCUMENTS CPF 617.296.121-72, RG 2.544.923 SSP/GO, RESIDENTIAL ADDRESS AT RUA 1 QUADRA 02, LOTES 01/02, APTO 800, ED. SERRA DOURADA - CIDADE JARDIM, ZIP ODE 75080-690, ANÁPOLIS/GO;

 

RIZEK MIKHAIL HAJJAR: BRAZILIAN, MARRIED, HOLDER OF DOCUMENTS CPF 003.045.731-91, RG 43.841 SSP/GO, RESIDENTIAL ADDRESS AT RUA 1º. DE MAIO, 26, CENTRO, ZIP CODE 75020-050, ANÁPOLIS/GO.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

PUBLIC INFORMATION:

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

MUNICIPAL LAWSUIT

08/11/11

VARA DE ITAPEVI/SP

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/12/2010, 31/12/2009 AND 31/12/2008.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2010

31/12/2009

31/12/2008

 

 

 

 

CASH AND CASH EQUIVALENTS

12.335.543,19

5.659.299,80

1.472.761,82

CLIENTS

20.706.969,64

18.075.097,73

13.030.479,45

INVENTORY

12.124.795,95

11.281.283,07

12.209.606,91

ADVANCES

 

268.746,13

202.757,80

PREPAID EXPENSES

19.861,77

30.978,31

24.082,12

RECOVERABLE TAXES

1.244.755,52

1.225.039,41

705.737,54

ACCOUNTS RECEIVABLE

1.000.000,00

 

800.000,00

ADVANCE TO SUPPLIERS

1.261.774,23

 

 

ADVANCE TO EMPLOYEES

41.720,13

 

 

 

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

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

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

TOTAL CURRENT ASSETS

48.735.420,43

36.540.444,45

28.445.425,64

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

INVESTMENTS

315.847,89

333.906,81

907.506,23

 

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

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

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

TOTAL LONG-TERM RECEIVABLES

315.847,89

333.906,81

907.506,23

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

27.105.394,82

22.006.381,64

22.263.408,18

DEFERRED

 

 

39.019,97

INVESTMENTS

 

 

267.013,00

 

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

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

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

TOTAL FIXED ASSETS

27.105.394,82

22.006.381,64

22.569.441,15

 

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

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

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

TOTAL ASSETS

76.156.663,14

58.880.732,90

51.922.373,02

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2010

31/12/2009

31/12/2008

 

 

 

 

SUPPLIERS

6.658.141,19

5.787.214,95

3.685.528,34

LOANS AND FINANCING

4.887.213,59

1.350.926,20

1.949.220,10

TAXES & CONTRIBUTIONS

2.739.038,37

1.894.474,69

1.071.075,82

ACCOUNTS PAYABLE

749.344,85

451.376,57

337.722,63

BANKING DEBTS

2.646,19

35.920,45

135.000,00

PROFIT SHARING

1.340.000,00

 

1.824.849,06

OTHER DEBTS

 

7.743,50

8.469,88

 

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

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

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

TOTAL CURRENT LIABILITIES

16.376.384,19

9.527.656,36

9.011.865,83

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

LOANS AND FINANCING

4.215.666,86

6.387.511,04

8.667.235,41

INSTALLMENTS TAXES PAYABLE

1.052.084,56

1.077.895,64

9.243.271,78

ACCOUNTS PAYABLE

15.993.394,68

10.680.956,24

 

 

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

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

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

TOTAL LONG TERM LIABILITIES

21.261.146,10

18.146.362,92

17.910.507,19

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

4.500.000,00

4.500.000,00

4.500.000,00

PROFIT RESERVES

33.443.511,85

 

 

LEGAL RESERVES

575.621,00

 

 

RESOURCE/INCREASE CAPITAL

 

20.500.000,00

20.500.000,00

ACCRUED PROFIT (LOSS)

 

6.206.713,62

 

 

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

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

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

TOTAL NET EQUITY

38.519.132,85

31.206.713,62

25.000.000,00

 

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

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

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

TOTAL LIABILITIES

76.156.663,14

58.880.732,90

51.922.373,02

 

PROFIT AND LOSS ACCOUNTS AS OF 31/12/2010, 31/12/2009 AND 31/12/2008.

( FIGURES ARE IN REAIS ).

 

 

31/12/2010

31/12/2009

31/12/2008

 

 

 

 

GROSS SALES

116.414.839,81

85.008.028,12

71.715.393,33

(-) TAXES ON SALES

16.211.440,95

11.807.875,13

10.819.319,43

 

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

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

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

NET SALES

100.203.398,86

73.200.152,99

60.896.073,90

(-) COST OF SOLD GOODS

57.717.417,49

48.328.320,50

36.084.534,18

 

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

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

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

GROSS PROFIT

42.485.981,37

24.871.832,49

24.811.539,72

OPERATING REVENUE (EXPENSE)

-24.329.643,94

-14.067.618,75

-14.052.071,53

FINANCIAL REVENUE(EXPENSE)

-835.020,29

-1.171.085,60

-2.198.920,69

 

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

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

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

OPERATIONAL PROFIT (LOSS)

17.321.317,14

9.633.128,14

8.560.547,50

NON-OPERATING RESULT

242.499,88

 

 

CONTRIBUTION/INCOME TAX

-6.051.397,79

-3.251.263,58

-2.156.992,82

 

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

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

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

NET PROFIT (LOSS)

11.512.419,23

6.381.864,56

6.403.554,68

 

RATIOS:

31/12/2010

31/12/2009

31/12/2008

 

QUICK RATIO

2,24

 

2,65

 

1,80

 

CURRENT RATIO

2,98

 

3,84

 

3,16

 

ACCOUNTS RECEIVABLE TURNOVER

4,84

TIMES

4,05

TIMES

4,67

TIMES

DAYS' SALES IN RECEIVABLES

74,39

DAYS

88,89

DAYS

77,03

DAYS

INVENTORY TURNOVER

4,76

TIMES

4,28

TIMES

2,96

TIMES

ACCOUNTS PAYABLE PERIOD

41,53

DAYS

43,11

DAYS

36,77

DAYS

RETURN ON ASSETS

1,32

TIMES

1,24

TIMES

1,17

TIMES

SALES TURNOVER ON NET EQUITY

2,60

TIMES

2,35

TIMES

2,44

TIMES

NET WORTH TIE-UP

,70

 

,71

 

,89

 

INDEBTEDNESS

,98

 

,89

 

1,08

 

EQUITY RATIO

50,58

%

53,00

%

48,15

%

WORKING CAPITAL RATIO

197,60

%

283,52

%

215,64

%

GENERAL SOLVENCY

2,02

 

2,13

 

1,93

 

RETURN ON NET EQUITY

29,89

%

20,45

%

25,61

%

RETURN ON SALES (PROFIT MARGIN)

11,49

%

8,72

%

10,52

%

GROSS PROFIT MARGIN

42,40

%

33,98

%

40,74

%

OPERATIONAL RESULT

17,29

%

13,16

%

14,06

%

SALES TURNOVER ON LIABILITIES

6,12

TIMES

7,68

TIMES

6,76

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 1,82

 - OFFICIAL RATE ON 12/04/2012

US$ 1,00 = R$ 1,66

 - OFFICIAL RATE ON 31/12/2010

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 ANNUAL FIGURES AVAILABLE SHOW GOOD FINANCIAL STANDING. IT IS NOTED HIGH LIQUIDITY RATIOS AND GOOD WORKING CAPITAL, AS WELL AS ACCEPTABLE LEVEL OF INDEBTEDNESS. IN ADDITION IT IS NOTED GROWING SALES AND PROFITABILITY.

 

REAL ESTATE:

 

   OWNED PREMISES ARE VALUED AT R$ 14.552.515,04

 

VEHICLES:

 

   OWNED VEHICLES ARE VALUED AT R$ 133.676,51

 

MACHINES:

 

   OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 7.596.757,60

 

 

INSURANCE

 

NOT AVAILABLE.

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO BRADESCO S/A

3684-6  / 62 3324-9118

GOIÂNIA/GO

BANCO DO BRASIL S/A

03388-X / 62 3311-1633

GOIÂNIA/GO

 

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 MANUFACTURE OF PHARMACEUTICALS.

 

IMPORT AND EXPORT:

 

   IMPORTS FROM:

NOT AVAILABLE.

 

   EXPORTS TO:

NOT AVAILABLE.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

NOT AVAILABLE.

 

 

 

STAFF:

 

THE COMPANY HAS: 873 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT WAS ESTABLISHED IN 1999 BUT REMAINED DORMANT UNTIL SEPTEMBER 2004, WHEN IT STARTED OPERATING EFFECTIVELY. SO FAR IT OPERATES WITH GROWING SCALE OF ACTIVITIES, A CLEAR TRADE HISTORY ANO 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.

 

 

 

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

CARTOGRAFICA FENIX LTDA

 

31 3361-6199

COLORCON DO BRASIL LTDA

 

11 4612-4262

EMBALAGENS ALLBOX LTDA

 

62 3311-4728

GALENA INDÚSTRIA QUIMICA FARMACEUTICA LTDA

 

19 3746-7730

GÊNIX INDÚSTRIA FARMACÊUTICA LTDA

 

0800-105008

GLOBE QUIMICA LTDA

 

 

KLOCKER PENTAPLAST DO BRASIL

 

11 4613-9976

PHARMA NOSTRA COMERCIAL LTDA

 

0800-7724880

CREDIT LIMIT

 

 

PAYMENT HISTORY:

 

14 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 529.396,00

 

AMOUNT OF INVOICES PAID: 109

TOTAL OF PROMPT PAYMENTS: 99,8%

TOTAL OF DELAYED PAYMENTS: 0,2%

 

HIGHEST INVOICE: R$ 39.273,00

HIGHEST CREDIT: R$ 39.273,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 30 DAYS:

 

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

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

1

2

R$ 10.420,00

 

 

FINAL OPINION

 

THE SUBJECT WAS ESTABLISHED IN 1999 BUT REMAINED DORMANT UNTIL 2004. SO FAR IT OPERATES WITH A GROWING SCALE OF ACTIVITIES AND FAVORABLE TRADE HISTORY.

 

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 US$ 1.000.000,00 MAY BE CONSIDERED.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.42

UK Pound

1

Rs.81.93

Euro

1

Rs.67.67

 

 

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.