MIRA INFORM REPORT
|
Report Date : |
01.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
MARISA LOJAS SA |
|
|
|
|
Registered Office : |
Rua James Holland, 422/432 - Barra Funda , 01138-000 - São Paulo/Sp |
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Country : |
Brazil |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
28.04.1959 |
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Legal Form : |
Publicly Held Corporation |
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Line of Business : |
Retail sale of wearing apparel and accessories. |
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No. of Employees
: |
14000 |
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 |
|
Maximum Credit Limit : |
USD 1.000.000,00 |
|
Status : |
Good |
|
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 – 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 |
|
Off-credit |
D |
Company name
MARISA LOJAS S/A
company ADDRESSES
|
MAIN ADDRESS: |
RUA JAMES HOLLAND, 422/432 - BARRA FUNDA |
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ZIP CODE/CITY: |
01138-000 - SÃO PAULO/SP |
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PHONE: |
11 2109-6351 |
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FAX: |
11 2109-6307 |
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E-MAIL: |
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WEB SITE: |
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BRANCHES: |
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ADDRESS: |
RUA ANDRADE NEVES, 1849 (RUA GENERAL OSÓRIO, 716) CENTRO |
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ZIP CODE/CITY: |
96020-080 PELOTAS/RS |
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|
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ADDRESS: |
RUA CORONEL CHICUTA, 355 SUC 328, 3A. - CENTRO |
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ZIP CODE/CITY: |
99010-050 PASSO FUNDO/RS |
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ADDRESS: |
AVENIDA PRESIDENTE VARGAS, 844 (RUA COSTA GOMES, 919) SETOR CENTRAL |
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ZIP CODE/CITY: |
75901-050 RIO VERDE/GO |
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ADDRESS: |
RUA AUGUSTO ZIMMERNANN, 6030 ITOUPAVA |
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ZIP CODE/CITY: |
89063-001 BLUMENAU/SC |
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PHONE: |
47 3331-3000 |
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IT ALSO HAS 329 STORES THROUGHOUT THE COUNTRY, EXCEPT THE RORAIMA, TOCANTINS,
GOIAS, MATO GROSSO DO SUL, MATO GROSSO, RIO GRANDE SO SUL AND DISTRITO
FEDERAL STATES. |
LEGAL DATA
|
MAIN ACTIVITIES: |
|
RETAIL SALE OF WEARING APPAREL AND ACCESSORIES. |
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LEGAL FORM: |
PUBLICLY
HELD CORPORATION |
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|
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INCORPORATION DATE: |
28/04/1959 |
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REGISTER DATE: |
28/04/1959 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
61.189.288/0001-89 |
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STATE REGISTER: |
104.120.01.110 |
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|
|
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SHARE CAPITAL: |
R$
651.105.836,57 |
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LAST REGISTER OF CAPITAL: |
05/03/2010 |
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BOARD OF
DIRECTORS: |
|
|
|
|
|
MARCIO LUIZ GOLDFARB |
PRESIDENT DIRECTOR |
|
RICARDO JOSE RIBEIRO DOS SANTOS |
DIRECTOR |
|
PAULO SERGIO BORSATTO |
DIRECTOR |
|
JOSÉ LUIZ DA SILVA CUNHA |
DIRECTOR |
AUTHORIZED USE OF SIGNATURE
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
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|
|
|
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RODRIGO TERPINS |
6,032947% |
|
TICIANA TERPINS STROZENBERG |
6,032946% |
|
FANY RACHEL GOLDFARB |
0,000001% |
|
JACK LEON TERPINS |
0,000001% |
|
FLIN PARTICIPAÇÕES S.A. |
0,006892% |
|
TAEF FUND, LLC |
6,932208% |
|
MÁRCIA DA RIVA GARCIA GOLDFARB |
1,141754% |
|
MICHEL TERPINS |
6,032947% |
|
MARCELO GOLDFARB |
6,104148% |
|
ROBERTA GOLDFARB PHILIPSEN |
6,104092% |
|
DENISE GOLDFARB TERPINS |
6,432002% |
|
FLÁVIA GOLDFARB PAPA |
6,104145% |
|
MÁRCIO LUIZ GOLDFARB |
7,155432% |
|
DÉCIO GOLDFARB |
23,800680% |
|
OTHERS |
18,119805% |
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AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
BEGOLDI COMÉRCIO, PARTICIPAÇÕES E ADMINISTRAÇÃO |
|
|
ACTIO PARTICIPAÇÕES LTDA |
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|
NOVAY PARTICIPAÇÕES LTDA |
|
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NIX ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA |
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MAREASA PARTICIPAÇÕES LTDA |
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CREDI 21 PARTICIPAÇÕES LTDA |
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TCM PARTICIPAÇÕES LTDA |
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FIX PARTICIPAÇÕES LTDA |
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DUE MILLE PARTICIPAÇÕES LTDA |
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REGISTRADA - MARCAS, PATENTES E ROYALTIES LTDA. |
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STUDIO COMERCIO VAREJISTA DO VESTUARIO LTDA. |
|
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MAX PARTICIPACOES LTDA |
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ALBATROZ COMERCIO ATACADISTA DE ARTIGOS DO VESTUARIO LTDA |
|
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FASHION COMERCIO ATACADISTA DE ARTIGOS DE VESTUARIO LTDA |
|
|
SIARA COMERCIO ATACADISTA DE ARTIGOS DO VESTUARIO LTDA |
|
|
VAREJOS MARISA LTDA. |
|
|
TEF SERVICOS DE PROCESSAMENTO DE DADOS LTDA. |
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COMPANY'S BACKGROUND
|
THE SUBJECT WAS ESTABLISHED ON APRIL 28, 1959 AS MARISA LOJAS
VAREJISTAS LTDA. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. LATER IT ADOPTED
THE ABOVE MENTIONED NAME. ON DECEMBER 18, 2009, THE SHAREHOLDERS OF THE COMPANY APPROVED THE
ACQUISITION OF THE TOTAL SHARES ISSUED BY THE COMPANY MARISA S/A. ON JUNE 14, 2010, THE COMPANY WAS REGISTERED AT "CVM"
(BRAZILIAN'S SECURITIES AND EXCHANGE COMMISSION) AND IT WAS REGISTERED IN THE
BM&F'S NOVO MERCADO UNDER THE TICKER "AMAR3. TRADE NAME: MARISA FURTHER DETAILS ARE SO FAR NOT KNOWN. |
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PUBLIC
INFORMATION: |
|
PROTESTS: |
|
413 PROTESTS,TOTAL AMOUNT R$ 3.234.875,62 |
|
DATE OF FIRST PROTEST:
MARCH/2007 R$ 460,00 |
|
DATE OF HIGHEST PROTEST:
MAY/2009 R$ 123.120,00 |
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DETAILS OF LATEST PROTESTS: |
|
NOTARY OFFICE: |
DATE: |
VALUE: |
|
1º CARTÓRIO DE SP-SÃO PAULO |
15/02/2012 |
R$ 1.200,34 |
|
3º CARTÓRIO DE SC-BLUMENAU |
16/02/2012 |
R$ 54.720,00 |
|
9º CARTÓRIO DE SP-SÃO PAULO |
15/02/2012 |
R$ 2.524,68 |
|
6º CARTÓRIO DE SP-SÃO PAULO |
15/02/2012 |
R$ 1.133,00 |
|
9º CARTÓRIO DE SP-SÃO PAULO |
15/02/2012 |
R$ 2.980,00 |
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LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
1 |
EXECUTIVE LAWSUIT |
28/09/07 |
6º VARA DE RO-PORTO VELHO |
|
3 |
FEDERAL LAWSUITS |
02/12/11 |
7º VARA SP-FEDERAL |
|
15 |
STATE LAWSUITS |
07/02/12 |
1ª VARA DE MG-UBERLÂNDIA |
|
18 |
MUNICIPAL LAWSUITS |
06/12/11 |
VARA DE SP-SÃO CARLOS |
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 |
13.815 |
24.599 |
25.195 |
|
INVESTMENTS |
48.052 |
301.709 |
139.095 |
|
CLIENTS |
157.464 |
311.587 |
250.932 |
|
INVENTORY |
341.429 |
232.016 |
147.449 |
|
RECOVERABLE TAXES |
58.646 |
37.208 |
25.675 |
|
OTHER |
96.157 |
8.395 |
6.525 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
715.563 |
915.514 |
594.871 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
5.284 |
4.667 |
3.486 |
|
DEFERRED TAXES |
32.330 |
23.678 |
19.603 |
|
INTERCOMPANY CREDITS |
6.758 |
3.612 |
3.265 |
|
RECOVERABLE TAXES |
69.149 |
42.005 |
26.220 |
|
JUDICIAL DEPOSITS |
31.486 |
27.995 |
24.931 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
145.007 |
101.957 |
77.505 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
466.556 |
443.962 |
397.833 |
|
FIXED ASSETS |
392.271 |
327.915 |
227.628 |
|
INTANGIBLE |
92.699 |
81.206 |
48.950 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
951.526 |
853.083 |
674.411 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
1.812.096 |
1.870.554 |
1.346.787 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
30/09/2011 |
31/12/2010 |
31/12/2009 |
|
|
|
|
|
|
SOCIAL OBLIGATIONS |
43.971 |
40.386 |
29.950 |
|
SUPPLIERS |
130.641 |
203.085 |
165.614 |
|
TAX LIABILITIES |
20.029 |
128.693 |
74.883 |
|
LOANS AND FINANCING |
249.534 |
461.861 |
118.460 |
|
INTERCOMPANY DEBTS |
81.531 |
11.303 |
10.585 |
|
OTHER |
36.721 |
52.566 |
46.908 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
562.427 |
897.894 |
446.400 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
335.336 |
67.887 |
93.541 |
|
INSTALLMENTS TAXES PAYABLE |
25.656 |
41.639 |
44.530 |
|
PROVISIONS |
36.763 |
40.097 |
41.876 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
397.755 |
149.623 |
179.947 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
651.106 |
651.106 |
650.642 |
|
CAPITAL RESERVES |
643 |
|
|
|
PROFIT RESERVES |
58.945 |
171.931 |
69.798 |
|
ACCRUED PROFIT (LOSS) |
141.220 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
851.914 |
823.037 |
720.440 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
1.812.096 |
1.870.554 |
1.346.787 |
|
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 |
|
|
|
|
|
|
NET SALES |
1.339.361 |
1.701.759 |
1.433.834 |
|
(-) COST OF SOLD GOODS |
679.267 |
807.553 |
681.869 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
660.094 |
894.206 |
751.965 |
|
OPERATING REVENUE (EXPENSE) |
-487.905 |
-635.412 |
-632.809 |
|
FINANCIAL REVENUE(EXPENSE) |
-46.001 |
-32.283 |
-28.622 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
126.188 |
226.511 |
90.534 |
|
CONTRIBUTION/INCOME TAX |
15.032 |
-17.840 |
-15.119 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
141.220 |
208.671 |
75.415 |
|
RATIOS: |
30/09/2011 |
31/12/2010 |
31/12/2009 |
|
QUICK RATIO |
,67 |
|
,76 |
|
1,00 |
|
|
CURRENT RATIO |
1,27 |
|
1,02 |
|
1,33 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
8,51 |
TIMES |
5,46 |
TIMES |
5,71 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
31,74 |
DAYS |
65,91 |
DAYS |
63,00 |
DAYS |
|
INVENTORY TURNOVER |
1,99 |
TIMES |
3,48 |
TIMES |
4,62 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
51,93 |
DAYS |
90,53 |
DAYS |
87,44 |
DAYS |
|
RETURN ON ASSETS |
,74 |
TIMES |
,91 |
TIMES |
1,06 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
1,57 |
TIMES |
2,07 |
TIMES |
1,99 |
TIMES |
|
NET WORTH TIE-UP |
,46 |
|
,40 |
|
,32 |
|
|
INDEBTEDNESS |
1,13 |
|
1,27 |
|
,87 |
|
|
EQUITY RATIO |
47,01 |
% |
44,00 |
% |
53,49 |
% |
|
WORKING CAPITAL RATIO |
27,23 |
% |
1,96 |
% |
33,26 |
% |
|
GENERAL SOLVENCY |
1,89 |
|
1,79 |
|
2,15 |
|
|
RETURN ON NET EQUITY |
16,58 |
% |
25,35 |
% |
10,47 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
10,54 |
% |
12,26 |
% |
5,26 |
% |
|
GROSS PROFIT MARGIN |
49,28 |
% |
52,55 |
% |
52,44 |
% |
|
OPERATIONAL RESULT |
9,42 |
% |
13,31 |
% |
6,31 |
% |
|
SALES TURNOVER ON LIABILITIES |
2,38 |
TIMES |
1,90 |
TIMES |
3,21 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 1,70 |
- OFFICIAL RATE ON 28/02/2012 |
|
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 SHOW A SATISFACTORY FINANCIAL STANDING. THE LEVEL
OF INDEBTEDNESS WAS VERY HIGH DUE TO ITS FINANCIAL AND TRADE DEBTS. HOWEVER,
IT HAD ACCEPTABLE CURRENT RATIO AND POSITIVE WORKING CAPITAL, CONSIDERED
SUFFICIENT TO COVER THE SHORT TERM DEBTS. IT ALSO SHOWED GROWING SALES AND
POSTED PROFIT. THE QUARTERLY FIGURES FOR SEPTEMBER 2011 SHOW IMPROVEMENT IN THE
FINANCIALS. THE INDEBTEDNESS KEEPS HIGH BUT THE LIQUIDITY WAS IMPROVED. IN
ADDITION, IT SHOWS GROWING SALES TREND AND POSITIVE RESULT. |
|
REAL ESTATE: |
NOT AVAILABLE
|
VEHICLES: |
NOT AVAILABLE
|
MACHINES: |
NOT AVAILABLE
INSURANCE
|
THE COMPANY AND ITS SUBSIDIARIES ADOPTS AN INSURANCE POLICY, WICH
CONSIDERS MAINLY, THE CONCENTRATION OF RISKS AND ITS RELEVANCE, CONTRACTED BY
THE MANAGEMENT, TAKING INTO ACCOUNT THE NATURE OF ITS ACTIVITIES AND THE
ORIENTATION OF ITS INSURANCE CONSULTANTS. AS OF SEPTEMBER 30, 2011 THE COMPANY'S INSURANCE COVERAGE WAS BROKEN
DOWN AS FOLLOWS: |
|
COVERAGE: |
CIVIL LIABILITY |
|
VALUE: |
R$ 2.000.000,00 |
|
|
|
|
COVERAGE: |
SUNDRY RISKS |
|
VALUE: |
R$ 43.000.000,00 |
|
|
|
|
COVERAGE: |
INTERNATIONAL AND NATIONAL TRANSPORTS |
|
VALUE: |
R$ 8.605.000,00 |
|
|
|
|
COVERAGE: |
VEHICLES |
|
VALUE: |
R$ 1.472.000,00 |
BANKING REFERENCES
|
|
|
|
|
BANCO BRADESCO S/A |
|
|
|
BANCO ITAÚ S/A |
|
|
|
BANCO ALFA S/A |
|
|
|
BANCO SAFRA S/A |
|
|
|
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 SUBJECRT IS ENGAGED IN THE RETAIL SALE OF WEARING APPAREL AND
ACCESSORIES. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
NOT AVAILABLE. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
END CONSUMER |
|
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 14000 EMPLOYEE(S) |
CONCEPT AND FULFILMENT
|
THE SUBJECT IS A TRADITIONAL AND OLD-ESTABLISHED COMPANY, OPERATING SINCE
1959, OPERATING WITH HIGH AND GROWING SCALE OF ACTIVITIES. 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 LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE
RELATED TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID.
USUALLY THIS KIND OF SUITS DO NOT AFFECT THE COMPANY REPUTATION BUT IN THE
SUBJECT SPECIFIC CASE IT IS NOT POSSIBLE TO EVALUATE AS THERE ARE SEVERAL
SUITS REGISTERED AND NO DETAILS REGARDING THE AMOUNTS INVOLVED ARE AVAILABLE
FOR PUBLIC INSPECTION. OUR INVESTIGATION THROUGH THE PUBLIC RECORDS SHOWED SEVERAL
DETRIMENTAL FILES REGISTERED AGAINST THE SUBJECT BUT SUCH PROTESTS ARE NOT
LIKELY TO AFFECT THE COMPANY'S OVERALL SITUATION GIVEN ITS HIGH FINANCIAL
POWER AND HIGH SCALE OF ACTIVITIES. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
|
|
NOT AVAILABLE. |
|
|
|
PAYMENT HISTORY: |
|
48 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 48.482.488,00 |
|
|
|
AMOUNT OF INVOICES PAID: 2371 |
|
TOTAL OF PROMPT PAYMENTS: 97,9% |
|
TOTAL OF DELAYED PAYMENTS: 2,1% |
|
|
|
HIGHEST INVOICE: R$ 10.085.760,00 |
|
HIGHEST CREDIT: R$ 10.085.760,00 |
|
|
|
OUTSTANDING
INVOICES DUE WITHIN THE NEXT 91 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
5 |
30 |
R$ 566.617,40 |
|
DUE WITHIN 60 DAYS |
3 |
19 |
R$ 431.419,86 |
|
DUE WITHIN 90 DAYS |
3 |
51 |
R$ 1.357.311,02 |
|
DUE WITHIN 91 DAYS |
1 |
56 |
R$ 44.103,73 |
|
ALL |
6 |
156 |
R$ 2.399.452,01 |
FINAL OPINION
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS.
UP TO DATE IT HAS A SATISFACTORY FINANCIAL STANDING AND 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. THE COMPANY HAS HIGH FINANCIAL POWER AND AN INITIAL CREDIT LIMIT OF
USD 1.000.000,00. |
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BALANCE SHEET ANALYSIS |
FIGURES ARE IN THOUSANDS OF
REAIS |
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|
|
30-09-11 |
|
31-12-10 |
|
31-12-09 |
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|
ASSETS |
|
% |
|
% |
|
% |
|
Current Assets |
39.49 |
$ 915,514 |
48.94 |
$
594,871 |
44.17 |
|
|
Fixed Assets |
$ 951,526 |
52.51 |
$ 853,083 |
45.61 |
$
674,411 |
50.08 |
|
TOTAL ASSETS |
$ 1,812,096 |
100.00 |
$ 1,870,554 |
100.00 |
$
1,346,787 |
100.00 |
|
LIABILITIES |
|
|
|
|
|
|
|
Current Liabilities |
$ 562,427 |
31.04 |
$ 897,894 |
48.00 |
$
446,400 |
33.15 |
|
Long-Term Liabilities |
$ 397,755 |
21.95 |
$ 149,623 |
8.00 |
$
179,947 |
13.36 |
|
TOTAL LIABILITIES |
$ 960,182 |
52.99 |
$ 1,047,517 |
56.00 |
$
626,347 |
46.51 |
|
Deferred Income |
$ - |
0.00 |
$ - |
0.00 |
$ - |
0.00 |
|
Net Equity |
$ 851,914 |
47.01 |
$ 823,037 |
44.00 |
$
720,440 |
53.49 |
|
TOTAL LIABILITIES + NET EQUITY |
$ 1,812,096 |
100.00 |
$ 1,870,554 |
100.00 |
$
1,346,787 |
100.00 |
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PROFIT AND LOSS ACCOUNTS |
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|
|
|
|
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|
Net Sales |
$ 1,339,361 |
100.00 |
$ 1,701,759 |
100.00 |
$
1,433,834 |
100.00 |
|
Costs |
$
679,267 |
50.72 |
$ 807,553 |
47.45 |
$
681,869 |
47.56 |
|
Gross Profit |
$ 660,094 |
49.28 |
$ 894,206 |
52.55 |
$
751,965 |
52.44 |
|
Operating expenses |
$
(487,905) |
-36.43 |
$ (635,412) |
-37.34 |
$
(632,809) |
-44.13 |
|
operational Result |
$ 126,188 |
9.42 |
$ 226,511 |
13.31 |
$ 90,534 |
6.31 |
|
Net Profit (loss) |
$ 141,220 |
10.54 |
$ 208,671 |
12.26 |
$ 75,415 |
5.26 |
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COMPLEMENTARY DATA |
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|
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Inventory |
$ 341,429 |
|
$ 232,016 |
|
$
147,449 |
|
|
Accounts receivable |
$ 157,464 |
|
$ 311,587 |
|
$
250,932 |
|
|
Accounts Payable |
$ 130,641 |
|
$ 203,085 |
|
$
165,614 |
|
|
Property, plant and equipment |
$ 392,271 |
|
$ 327,915 |
|
$
227,628 |
|
|
Purchases |
$ 951,526 |
|
$ 853,083 |
|
$
674,411 |
|
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Financial Expenses |
$ (46,001) |
|
$ (32,283) |
|
$ (28,622) |
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Foreign Currency Assets |
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|
|
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|
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Foreign Currency Liabilities |
|
|
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Working Capital |
$
153,136 |
|
$ 17,620 |
|
$
148,471 |
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RATIOS: |
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|
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QUICK RATIO |
0.67 |
|
0.76 |
|
1.00 |
|
|
CURRENT RATIO |
1.27 |
|
1.02 |
|
1.33 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
8.51 |
times |
5.46 |
times |
5.71 |
times |
|
DAYS' SALES IN RECEIVABLES |
31.74 |
days |
65.91 |
days |
63.00 |
days |
|
INVENTORY TURNOVER |
1.99 |
times |
3.48 |
times |
4.62 |
times |
|
51.93 |
days |
90.53 |
days |
87.44 |
days |
|
|
RETURN ON ASSETS |
0.74 |
times |
0.91 |
times |
1.06 |
times |
|
SALES TURNOVER ON NET EQUIY |
1.57 |
times |
2.07 |
times |
1.99 |
times |
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NET WORTH TIE-UP |
0.46 |
|
0.40 |
|
0.32 |
|
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ENDEBTEDNESS |
1.13 |
|
1.27 |
|
0.87 |
|
|
EQUITY RATIO |
47.01 |
% |
44.00 |
% |
53.49 |
% |
|
WORKING CAPITAL RATIO |
27.23 |
% |
1.96 |
% |
33.26 |
% |
|
GENERAL SOLVENCY |
1.89 |
|
1.79 |
|
2.15 |
|
|
RETURN ON NET EQUITY |
16.58 |
% |
25.35 |
% |
10.47 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
10.54 |
% |
12.26 |
% |
5.26 |
% |
|
GROSS PROFIT MARGIN |
49.28 |
% |
52.55 |
% |
52.44 |
% |
|
OPERATIONAL RESULT |
9.42 |
% |
13.31 |
% |
6.31 |
% |
|
SALES TURNOVER ON LIABILITIES |
2.38 |
times |
1.90 |
times |
3.21 |
times |
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FOREIGN CURRENCY ON ASSETS |
- |
% |
- |
% |
- |
% |
|
FOREIGN CURRENCY ON LIABILITIES |
- |
% |
- |
% |
- |
% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.94 |
|
UK Pound |
1 |
Rs.77.95 |
|
Euro |
1 |
Rs.65.94 |
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.