MIRA
INFORM REPORT
|
Report Date : |
12.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ITRON SOLUÇÕES |
|
|
|
|
Formerly Known As : |
ACTARIS LTDA |
|
|
|
|
Registered Office : |
Rua Fioravante Mancino,1560 Modulo 8 - Chacara Monte Alegre, Zip Code 13175-575 - Sumare/Sp |
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|
|
|
Country : |
Brazil |
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|
|
Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
09.10.1946 |
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Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
Manufacture, sale, import and export, repair and maintenance of any
kind of mechanical and electromechanical equipment or component, specially measuring
instruments, protection, electrical power, fluid and gases regulator, as well
as memory cards, computerized, electronic, mechanical and/or
electromechanical systems |
|
|
|
|
No. of Employees : |
800 |
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 |
|
Status : |
Satisfactory |
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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 |
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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
ITRON SOLUÇÕES
PARA ENERGIA E ÁGUA LTDA
company ADDRESSES
|
MAIN ADDRESS: |
RUA FIORAVANTE MANCINO,1560 MODULO 8 - CHACARA MONTE ALEGRE |
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ZIP CODE/CITY: |
13175-575 - SUMARE/SP |
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PHONE: |
19 3757-1300 |
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FAX: |
19 3757-1300 |
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E-MAIL: |
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WEB SITE: |
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BRANCHES: |
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|
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ADDRESS: |
AVENIDA JOAQUIM BOER,792 - JARDIM HELENA |
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ZIP CODE/CITY: |
13477-360 AMERICANA/SP |
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PHONE: |
19 3471-8400 |
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FAX: |
19 3471-8405 |
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CNPJ: |
60.882.719/0006-30 |
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STATE REGISTER: |
165.003.167.111 |
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|
|
|
ADDRESS: |
AVENIDA DOS DE MAYO,1321 -
SAN ISIDRO - LIMA 27 |
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ZIP CODE/CITY: |
PERU |
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CNPJ: |
60.882.719/0002-06 |
|
|
|
|
ADDRESS: |
RUA FIORAVANTE MANCINO,1560 MODULO 4 - CHACARA MONTE ALEGRE |
|
ZIP CODE/CITY: |
13175-575 SUMARE/SP |
LEGAL DATA
|
MAIN ACTIVITIES: |
|
MANUFACTURE, SALE, IMPORT AND EXPORT, REPAIR AND MAINTENANCE OF ANY
KIND OF MECHANICAL AND ELECTROMECHANICAL EQUIPMENT OR COMPONENT, SPECIALLY
MEASURING INSTRUMENTS, PROTECTION, ELECTRICAL POWER, FLUID AND GASES
REGULATOR, AS WELL AS MEMORY CARDS, COMPUTERIZED, ELECTRONIC, MECHANICAL
AND/OR ELECTROMECHANICAL SYSTEMS. |
|
LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
|
|
|
|
INCORPORATION DATE: |
09/10/1946 |
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REGISTER DATE: |
31/10/1946 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
60.882.719/0001-25 |
|
STATE REGISTER: |
244.192.022.117 |
|
|
|
|
SHARE CAPITAL: |
R$ 9.334.700,00 |
|
LAST REGISTER OF CAPITAL: |
08/11/2001 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
REGIANE FRASSON |
DIRECTOR |
|
SOFIA MARGARIDA FIGUEIRA MOUTINHO |
MANAGER |
AUTHORIZED USE OF SIGNATURE
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
ITRON HOLDING BELGIUM SPRL |
R$ 9.334.699,00 |
|
ITRON LUXEMBOURG SARL |
R$ 1,00 |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
NOT AVAILABLE. |
|
COMPANY'S BACKGROUND
|
THE SUBJECT WAS ESTABLISHED ON OCTOBER 9, 1946 TO BE ENGAGED IN THE
SAID LINE OF BUSINESS. THE COMPANY OPERATES WITH THE TRADE NAME "ITRON ENERGY &
WATER SOLUTIONS" PREVIOUS CORPORATE NAMES: CIA BRASILEIRA DE MEDIDORES, FROM 09/10/1946 TO 26/12/1972; MEDIDORES SCHLUMBERGER S/A, FROM 27/12/1972 TO 29/12/1988; SCHLUMBERGER INDUSTRIAS LTDA, FROM 30/12/1988 TO 08/11/2001; ACTARIS LTDA, FROM 09/11/2001 TO 16/04/2009. ON APRIL 16, 2009 ITS CORPORATE NAME WAS CHANGED FROM ACTARIS LTDA TO
THE CURRENT ONE. SUBJECT COMPANY IS KNOWN WORLDWIDE AS ACTARIS METERING SYSTEMS. PARTNERS: ITRON HOLDING BELGIUM SPRL: HEADQUARTERED AT AVENUE LOUSE 480, B-1050
BRUXELAS, BELGIUM REGISTRATION # CNPJ 05.492.083/0001-05. ITRON LUXEMBOURG SARL: HEADQUARTERED AT 12F RUE GUILLAUME KROLL, 1882,
LUXEMBURGO, REGISTRATION # CNPJ 13.208.226/0001-24. FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN INTERVIEWED SOURCES AT THE SUBJECT STATED THAT ARE STILL WAITING
FOR AUTHORIZATION FROM THE PRINCIPALS TO PROVIDE THE DATA NECESSARY TO
COMPLETE THIS REPORT. A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE
DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE
SENT TO YOUR ATTENTION. 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: |
|
NO DETRIMENTAL FILES WERE FOUND. |
FINANCIAL INFORMATION
|
GENERAL BALANCE SHEETS AS OF 31/12/2009, 31/12/2008 AND 31/12/2007. |
|
( FIGURES ARE IN REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
|
|
|
|
|
CASH AND BANKS |
14.145.143,75 |
5.426.111,34 |
5.709.695,26 |
|
INVESTMENTS |
|
|
1.009.659,87 |
|
CLIENTS |
32.875.194,52 |
50.363.937,87 |
31.175.149,21 |
|
DOUBTFUL DEBTORS |
-811.128,57 |
-563.569,45 |
-565.288,28 |
|
INVENTORY |
18.625.388,81 |
18.892.733,88 |
12.914.234,93 |
|
SHORT TERM INVESTMENTS |
|
221.302,22 |
420.048,49 |
|
INTERCOMPANY CREDITS |
10.776.826,50 |
6.894.150,00 |
5.225.335,00 |
|
ADVANCE TO EMPLOYEES |
|
34.592,70 |
161.644,10 |
|
ADVANCE TO SUPPLIERS |
|
93.392,38 |
4.182.054,56 |
|
RECOVERABLE TAXES |
7.596.347,24 |
12.989.949,26 |
6.914.239,86 |
|
OTHER CREDITS |
594.209,12 |
3.711.439,80 |
3.545.857,70 |
|
DEFERRED TAXES |
3.765.716,01 |
3.000.745,00 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
87.567.697,38 |
101.064.785,00 |
70.692.630,70 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
DEFERRED TAXES |
986.600,00 |
392.513,00 |
2.107.210,02 |
|
RECOVERABLE TAXES |
587.186,32 |
703.101,25 |
810.518,76 |
|
CREDIT WITH RELTD COMPANIES |
1.998.468,99 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
3.572.255,31 |
1.095.614,25 |
2.917.728,78 |
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FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
53.411,21 |
204.031,21 |
204.031,21 |
|
FIXED ASSETS |
16.676.559,81 |
16.340.386,54 |
13.272.762,54 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
16.729.971,02 |
16.544.417,75 |
13.476.793,75 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
107.869.923,71 |
118.704.817,00 |
87.087.153,23 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
|
|
|
|
|
SUPPLIERS |
37.380.981,93 |
35.341.785,25 |
22.618.518,05 |
|
TAXES & CONTRIBUTIONS |
|
1.176.966,22 |
746.467,07 |
|
LABOR OBLIGATIONS |
6.421.707,13 |
6.495.383,40 |
4.804.533,63 |
|
COMMISSIONS DUE |
|
613.306,56 |
538.991,79 |
|
PROVISIONS/INCOME TAX |
|
8.435.518,00 |
4.499.441,00 |
|
ACCOUNTS PAYABLE |
2.687.464,99 |
4.628.691,01 |
2.905.414,07 |
|
INTERESTS ON OWN CAPITAL |
|
|
1.265.961,93 |
|
PROFIT SHARING |
|
|
2.563.752,42 |
|
DEFERRED TAXES |
|
1.975.470,00 |
|
|
LOANS AND FINANCING |
246.089,03 |
|
|
|
PROVISIONS |
2.204.944,41 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
48.941.187,49 |
58.667.120,44 |
39.943.079,96 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
FOREIGN CURRENCY LOAN |
6.964.800,00 |
9.348.000,00 |
7.085.200,00 |
|
PROVISIONS/INCOME TAX |
|
3.508.691,85 |
4.739.575,85 |
|
DEFERRED TAXES |
2.437.256,00 |
|
1.331.770,00 |
|
PROVISIONS |
1.590.818,80 |
2.039.841,80 |
1.103.305,83 |
|
ADVANCE FROM CLIENTS |
4.000.000,00 |
|
|
|
OTHER |
1.789.150,09 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
16.782.024,89 |
14.896.533,65 |
14.259.851,68 |
|
DEFERRED INCOME |
|
1.831.429,65 |
167.355,84 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
9.334.700,00 |
9.334.700,00 |
9.334.700,00 |
|
PROFIT RESERVES |
32.812.011,33 |
33.975.033,26 |
23.382.165,75 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
42.146.711,33 |
43.309.733,26 |
32.716.865,75 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
107.869.923,71 |
118.704.817,00 |
87.087.153,23 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2009, 31/12/2008 AND 31/12/2007. |
|
( FIGURES ARE IN REAIS ). |
|
|
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
|
|
|
|
|
GROSS SALES |
231.085.002,41 |
228.416.022,04 |
185.023.439,05 |
|
(-) TAXES ON SALES |
43.444.807,15 |
45.956.270,88 |
36.653.997,91 |
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
187.640.195,26 |
182.459.751,16 |
148.369.441,14 |
|
(-) COST OF SOLD GOODS |
149.803.123,85 |
139.441.710,40 |
111.300.107,87 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
37.837.071,41 |
43.018.040,76 |
37.069.333,27 |
|
OPERATING REVENUE (EXPENSE) |
-28.515.765,12 |
-26.195.862,16 |
-23.760.736,46 |
|
FINANCIAL REVENUE(EXPENSE) |
-4.350.168,26 |
6.717.863,37 |
1.431.261,74 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
4.971.138,03 |
23.540.041,97 |
14.739.858,55 |
|
NON-OPERATING RESULT |
-4.021.231,21 |
-60.720,26 |
140.773,25 |
|
CONTRIBUTION/INCOME TAX |
2.759.799,82 |
-6.525.886,15 |
-4.492.657,17 |
|
INTERESTS ON OWN CAPITAL |
3.192.576,98 |
-500.568,05 |
-1.406.167,64 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
6.902.283,62 |
16.452.867,51 |
8.981.806,99 |
|
RATIOS: |
31/12/2009 |
31/12/2008 |
31/12/2007 |
|
QUICK RATIO |
1,41 |
|
1,40 |
|
1,45 |
|
|
CURRENT RATIO |
1,79 |
|
1,72 |
|
1,77 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
5,71 |
TIMES |
3,62 |
TIMES |
4,76 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
63,07 |
DAYS |
99,37 |
DAYS |
75,64 |
DAYS |
|
INVENTORY TURNOVER |
8,04 |
TIMES |
7,38 |
TIMES |
8,62 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
89,83 |
DAYS |
91,24 |
DAYS |
73,16 |
DAYS |
|
RETURN ON ASSETS |
1,74 |
TIMES |
1,54 |
TIMES |
1,70 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
4,45 |
TIMES |
4,21 |
TIMES |
4,54 |
TIMES |
|
NET WORTH TIE-UP |
,40 |
|
,38 |
|
,41 |
|
|
INDEBTEDNESS |
1,56 |
|
1,70 |
|
1,66 |
|
|
EQUITY RATIO |
39,07 |
% |
36,49 |
% |
37,57 |
% |
|
WORKING CAPITAL RATIO |
78,92 |
% |
72,27 |
% |
76,98 |
% |
|
GENERAL SOLVENCY |
1,64 |
|
1,61 |
|
1,61 |
|
|
RETURN ON NET EQUITY |
16,38 |
% |
37,99 |
% |
27,45 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
3,68 |
% |
9,02 |
% |
6,05 |
% |
|
GROSS PROFIT MARGIN |
20,16 |
% |
23,58 |
% |
24,98 |
% |
|
OPERATIONAL RESULT |
2,65 |
% |
12,90 |
% |
9,93 |
% |
|
SALES TURNOVER ON LIABILITIES |
3,83 |
TIMES |
3,11 |
TIMES |
3,71 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 2,03 |
- OFFICIAL RATE ON 10/07/2012 |
|
US$ 1,00 = R$ 1,74 |
- OFFICIAL RATE ON 31/12/2009 |
|
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 FINANCIAL DATA SHOWS
A NORMAL FINANCIAL STANDING. DESPITE THE HIGH LEVEL OF INDEBTEDNESS THE
COMPANY OPERATES WITH GOOD LIQUIDITY RATIOS, GROWING SALES AND PROFITABLE
RESULTS. REMARKS: -------- A REQUEST FOR FURTHER FINANCIAL DATA HAS BEEN SENT TO THE COMPANY.
PROVIDED THE DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT
WILL BE SEND TO YOUR ATTENTION. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$ 12.747.182,95
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$ 242.630,55
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 46.521.524,15
INSURANCE
|
INSURANCE COMPANY: |
ROYAL & SUNALLIANCE SEGUROS BRASIL S/A |
|
COVERAGE: |
FIRE |
|
VALUE: |
R$ 38.600.000,00 |
BANKING REFERENCES
|
|
BRANCH/PHONE: |
CITY: |
|
BANCO BRADESCO S/A |
19 3735-1338 |
CAMPINAS/SP |
|
BANCO ABN AMRO REAL S/A |
19 3737-3460 |
CAMPINAS/SP |
|
BANCO SANTANDER S/A |
19 3731-5687 |
CAMPINAS/SP |
|
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
|
MANUFACTURE, SALE, IMPORT AND EXPORT, REPAIR AND MAINTENANCE OF ANY
KIND OF MECHANICAL AND ELECTROMECHANICAL EQUIPMENT OR COMPONENT, SPECIALLY
MEASURING INSTRUMENTS, PROTECTION, ELECTRICAL POWER, FLUID AND GASES
REGULATOR, AS WELL AS MEMORY CARDS, COMPUTERIZED, ELECTRONIC, MECHANICAL
AND/OR ELECTROMECHANICAL SYSTEMS. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
INDONESIA, FRANCE, UNITED STATES, GERMANY, SPAIN, HUNGARY, ENGLAND AND
INDIA. |
EXPORTS TO:
|
SOUTH AMERICA, CENTRAL AMERICA, AFRICA, ASIA AND EUROPE. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
CITY: |
|
|
CAGECE - CIA AGUA ESGOTO
CEARA |
FORTALEZA/CE |
|
|
CASAN - CIA CATARINENSE A. E. SANEAMENTO |
FLORIANÓPOLIS/SC |
|
|
CELPE CIA ENERG. PERNAMBUCO |
RECIFE/PE |
|
|
CENTRAIS ELÉTRICAS DE GOIAIS - CELG |
GOIÂNIA/GO |
|
|
CIA PARANAENSE DE ENERGIA ELETRICA |
CURITIBA/PR |
|
|
CIA RIOGRANDENSE DE SANEAMENTO |
PORTO ALEGRE/RS |
|
|
CPFL CIA. PAULISTA DE FORÇA E LUZ |
CAMPINAS/SP |
|
|
EMBASA - EMPRESA BAIANA DE ÁGUA E SANEAMENTO |
SALVADOR/BA |
|
|
ENERSUL - EMPR. ENERG. MATO GROSSO DO SUL |
CAMPO GRANDE/MS |
|
|
LIGHT SERVIÇO DE ELETRICIDADE S/A |
RIO DE JANEIRO/RJ |
|
|
SABESP CIA DE SANEAMENTO BASICO S.PAULO |
SÃO PAULO/SP |
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 800 EMPLOYEE(S) |
CONCEPT AND FULFILMENT
|
THE SUBJECT IS AN OLD-ESTABLISHED COMPANY, OPERATING SINCE 1946. SO
FAR IT IS NOTED A GROWING SCALE OF ACTIVITIES, A CLEAR TRADE HISTORY AND GOOD
PAYMENT BEHAVIOUR. THE COMPANY HAS TRADE RELATIONS WITH SOME LOCAL SUPPLIERS BUT UP TO
DATE ONLY SMALL PAYMENTS WERE REPORTED AND THE SUBJECT IS NOT SAID TO BE USER
OF TRADE CREDIT FACILITIES. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
PHONE: |
|
ACESITA S/A |
|
11 3818-1810 |
|
AEROCIT IND. METAIS LTDA EPP |
|
15 4009-3277 |
|
ARIM COMPONENTES PARA FOGÃO LTDA |
|
11 6808-8800 |
|
COMERCIO DE METAIS LINENSE LTDA |
|
11 3276-3002 |
|
GE PLASTICS SOUTH AMERICA LTDA |
|
19 3781-1118 |
|
PIRELLI PRODUTOS ESPECIAIS LTDA |
|
11 4998-4177 |
|
REPLASMAC IND. COMÉRCIO PLÁSTICOS |
|
19 3478-1011 |
|
STAMPLINE MET. E ESTAMPARIA LTDA |
|
11 3446-6700 |
|
PAYMENT HISTORY: |
|
4 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 11.859,00 |
|
|
|
AMOUNT OF INVOICES PAID: 14 |
|
TOTAL OF PROMPT PAYMENTS: 77,5% |
|
TOTAL OF DELAYED PAYMENTS: 22,5% |
|
|
|
HIGHEST INVOICE: R$ 3.800,00 |
|
HIGHEST CREDIT: R$ 3.800,00 |
FINAL OPINION
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL
YEARS. UP TO DATE IT HAS NORMAL FINANCIAL STANDING, A 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. |
BALANCE SHEET ANALYSIS |
FIGURES ARE IN REAIS |
|
|
|
|
|
|
|
31/12/2009 |
|
31/12/2008 |
|
31/12/2007 |
|
|
ASSETS |
|
% |
|
% |
|
% |
|
Current Assets |
81.18 |
$
101,064,785 |
85.14 |
$
70,692,631 |
81.17 |
|
|
Fixed Assets |
$
16,729,971 |
15.51 |
$
16,544,418 |
13.94 |
$
13,476,794 |
15.48 |
|
TOTAL ASSETS |
$
107,869,924 |
100.00 |
$
118,704,817 |
100.00 |
$
87,087,153 |
100.00 |
|
LIABILITIES |
|
|
|
|
|
|
|
Current Liabilities |
$
48,941,187 |
45.37 |
$
58,667,120 |
49.42 |
$
39,943,080 |
45.87 |
|
Long-Term Liabilities |
$
16,782,025 |
15.56 |
$
14,896,534 |
12.55 |
$
14,259,852 |
16.37 |
|
TOTAL LIABILITIES |
$
65,723,212 |
60.93 |
$
73,563,654 |
61.97 |
$
54,202,932 |
62.24 |
|
Deferred Income |
$ - |
0.00 |
$ 1,831,430 |
4.23 |
$
167,356 |
0.51 |
|
Net Equity |
$
42,146,711 |
39.07 |
$
43,309,733 |
36.49 |
$
32,716,866 |
37.57 |
|
TOTAL LIABILITIES + NET EQUITY |
$
107,869,924 |
100.00 |
$
118,704,817 |
98.46 |
$
87,087,153 |
99.81 |
|
PROFIT AND LOSS ACCOUNTS |
|
|
|
|
|
|
|
Net Sales |
$
187,640,195 |
100.00 |
$
182,459,751 |
100.00 |
$
148,369,441 |
100.00 |
|
Costs |
$
149,803,124 |
79.84 |
$
139,441,710 |
76.42 |
$
111,300,108 |
75.02 |
|
Gross Profit |
$
37,837,071 |
20.16 |
$
43,018,041 |
23.58 |
$
37,069,333 |
24.98 |
|
Operating expenses |
$
(28,515,765) |
-15.20 |
$
(26,195,862) |
-14.36 |
$
(23,760,736) |
-16.01 |
|
operational Result |
$ 4,971,138 |
2.65 |
$
23,540,042 |
12.90 |
$
14,739,859 |
9.93 |
|
Net Profit (loss) |
$ 6,902,284 |
3.68 |
$
16,452,868 |
9.02 |
$
8,981,807 |
6.05 |
|
COMPLEMENTARY DATA |
|
|
|
|
|
|
|
Inventory |
$
18,625,389 |
|
$
18,892,734 |
|
$
12,914,235 |
|
|
Accounts receivable |
$
32,875,195 |
|
$
50,363,938 |
|
$
31,175,149 |
|
|
Accounts Payable |
$
37,380,982 |
|
$
35,341,785 |
|
$
22,618,518 |
|
|
Property, plant and equipment |
$
16,676,560 |
|
$
16,340,387 |
|
$
13,272,763 |
|
|
Purchases |
$
16,729,971 |
|
$
16,544,418 |
|
$
13,476,794 |
|
|
Financial Expenses |
$
(4,350,168) |
|
$ 6,717,863 |
|
$
1,431,262 |
|
|
Foreign Currency Assets |
|
|
|
|
|
|
|
Foreign Currency Liabilities |
|
|
|
|
|
|
|
Working Capital |
$
38,626,510 |
|
$
42,397,665 |
|
$
30,749,551 |
|
|
RATIOS: |
|
|
|
|
|
|
|
QUICK RATIO |
1.41 |
|
1.40 |
|
1.45 |
|
|
CURRENT RATIO |
1.79 |
|
1.72 |
|
1.77 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
5.71 |
times |
3.62 |
times |
4.76 |
times |
|
DAYS' SALES IN RECEIVABLES |
63.07 |
days |
99.37 |
days |
75.64 |
days |
|
INVENTORY TURNOVER |
8.04 |
times |
7.38 |
times |
8.62 |
times |
|
89.83 |
days |
91.24 |
days |
73.16 |
days |
|
|
RETURN ON ASSETS |
1.74 |
times |
1.54 |
times |
1.70 |
times |
|
SALES TURNOVER ON NET EQUIY |
4.45 |
times |
4.21 |
times |
4.53 |
times |
|
NET WORTH TIE-UP |
0.40 |
|
0.38 |
|
0.41 |
|
|
ENDEBTEDNESS |
1.56 |
|
1.70 |
|
1.66 |
|
|
EQUITY RATIO |
39.07 |
% |
36.49 |
% |
37.57 |
% |
|
WORKING CAPITAL RATIO |
78.92 |
% |
72.27 |
% |
76.98 |
% |
|
GENERAL SOLVENCY |
1.64 |
|
1.61 |
|
1.61 |
|
|
RETURN ON NET EQUITY |
16.38 |
% |
37.99 |
% |
27.45 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
3.68 |
% |
9.02 |
% |
6.05 |
% |
|
GROSS PROFIT MARGIN |
20.16 |
% |
23.58 |
% |
24.98 |
% |
|
OPERATIONAL RESULT |
2.65 |
% |
12.90 |
% |
9.93 |
% |
|
SALES TURNOVER ON LIABILITIES |
3.83 |
times |
3.11 |
times |
3.71 |
times |
|
FOREIGN CURRENCY ON ASSETS |
- |
% |
- |
% |
- |
% |
|
FOREIGN CURRENCY ON LIABILITIES |
- |
% |
- |
% |
- |
% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.37 |
|
UK Pound |
1 |
Rs.85.95 |
|
Euro |
1 |
Rs.67.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.