MIRA
INFORM REPORT
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Report Date : |
02.05.2012 |
IDENTIFICATION DETAILS
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Name : |
BRAINFARMA INDUSTRIA QUIMICA E FARMACÊUTICA
SA |
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Registered Office : |
Estrada Dos Bandeirantes, 3191 Parte I - Jacarepaguá , Zip Code 22775-111 - Rio De Janeiro/Rj |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.06.2002 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of pharmaceutical products |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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
BRAINFARMA INDUSTRIA QUIMICA E FARMACÊUTICA S/A
company ADDRESSES
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MAIN ADDRESS: |
ESTRADA DOS BANDEIRANTES, 3191 PARTE I - JACAREPAGUÁ |
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ZIP CODE/CITY: |
22775-111 - RIO DE JANEIRO/RJ |
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PHONE: |
21 2126-3000 |
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FAX: |
21 2126-3000 |
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E-MAIL: |
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WEB SITE: |
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BRANCHES: |
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ADDRESS: |
V PR-1, S/Nº, QUADRA2-A MODULO 4 DISTRITO AGROINDUSTRIAL DE ANAPOLIS |
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ZIP CODE/CITY: |
75132-020 ANAPOLIS/GO |
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PHONE: |
62 3310-2500 |
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CNPJ: |
05.161.069/0005-44 |
LEGAL DATA
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MAIN ACTIVITIES: |
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MANUFACTURE OF PHARMACEUTICAL PRODUCTS |
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
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INCORPORATION DATE: |
24/06/2002 |
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REGISTER DATE: |
24/06/2002 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
05.161.069/0001-10 |
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STATE REGISTER: |
77.462.406 |
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SHARE CAPITAL: |
R$
302.063.781,31 |
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BOARD OF
DIRECTORS: |
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ANTONIO PAULINO DA SILVA |
DIRECTOR |
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JUAREZ ENIO DAHMER |
DIRECTOR |
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DIEGO HENRIQUE OLIVEIRA LUZ |
DIRECTOR |
AUTHORIZED USE OF SIGNATURE
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THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
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HYPERMARCAS S/A |
100% |
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AFFILIATES /
SUBSIDIARIES: |
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MANTECORP INDUSTRIA QUIMICA E FARMACEUTICA S/A |
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I P H C INDUSTRIA DE PRODUTOS DE HIGIENE E COSMETICOS LTDA |
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COSMED INDUSTRIA DE COSMETICOS E MEDICAMENTOS S/A |
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MY AGENCIA DE PROPAGANDA LTDA |
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EAAPAR ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA |
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FAZENDA TANGURO AGROPECUARIA S/A |
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YORK S/A INDUSTRIA E COMERCIO |
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COMPANY'S BACKGROUND
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THE SUBJECT WAS ESTABLISHED ON JUNE 24, 2002 AS BRAINFARMA INDUSTRIA
QUIMICA E FARMACEUTICA LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON APRIL
13, 2011 IT WAS TRANSFORMED INTO STOCK COMPANY UNDER THE ABOVE MENTIONED
NAME. ACCORDING TO STOCKHOLDERS? GENERAL MEETING HELD ON APRIL 29, 2011, THE
PARTIAL SPLIT-OFF OF HYPERMARCAS S.A. WAS APPROVED. THE SPUN OFF NET ASSETS
WERE MERGED INTO COSMED INDÚSTRIA DE COSMÉTICOS E MEDICAMENTOS S.A. AND
BRAINFARMA INDÚSTRIA QUÍMICA E FARMACÊUTICA S.A. CONCURRENTLY, HYPERMARCAS
S/A ALSO MERGED THE SHARES ISSUED BY COSMED AND BRAINFARMA SO THAT THESE
COMPANIES COULD REMAIN WHOLLY-OWNED SUBSIDIARIES OF HYPERMARCAS S/A, AND THE
NUMBER OF SHARES AND THE SHARE CAPITAL OF HYPERMARCAS REMAINED THE SAME AS
THOSE PRIOR TO THE SPLIT-OFF. TRADE NAME: BRAINFARMA FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN CONTACTING THE SUBJECT WE INTERVIEWED MRS. RENATA, FINANCIAL
DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION
UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED. IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF
THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER
INFORMATION. THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR
DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES
USUALLY INVESTIGATED. |
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PUBLIC RECORDS
INFORMATION: |
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PROTESTS: |
|
2 PROTESTS,TOTAL AMOUNT R$
2.289,75 |
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DETAILS OF LATEST PROTESTS: |
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NOTARY OFFICE: |
DATE: |
VALUE: |
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4º CARTÓRIO DE RJ-RIO DE JANEIRO |
17/04/2012 |
R$ 452,25 |
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1º CARTÓRIO DE GO-ANÁPOLIS |
10/04/2012 |
R$ 1.837,50 |
FINANCIAL INFORMATION
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GENERAL BALANCE SHEETS AS OF 31/12/2010 |
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( FIGURES ARE IN REAIS ). |
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ASSETS |
PRIOR TO THE SPLIT-OFF |
AFTER THE SPLIT-OFF |
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CURRENT: |
31/12/2010 |
31/12/2010 |
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CASH AND CASH EQUIVALENTS |
1.133.359,61 |
1.133.359,61 |
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CLIENTS |
2.053.730,99 |
2.053.730,99 |
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OTHER |
36.930,27 |
36.930,27 |
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ADVANCES |
|
2.565.385,79 |
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RECOVERABLE TAXES |
1.183.251,02 |
10.978.014,34 |
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INVENTORY |
1.365.526,79 |
70.205.002,42 |
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---------------- |
---------------- |
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TOTAL CURRENT ASSETS |
5.772.798,68 |
86.972.423,42 |
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LONG-TERM
RECEIVABLES: |
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RECOVERABLE TAXES |
1.489.800,72 |
3.582.452,56 |
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JUDICIAL
DEPOSITS |
|
745.597,91 |
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TRIBUTARY CREDITS |
1.773.031,62 |
2.722.793,30 |
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---------------- |
---------------- |
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TOTAL LONG-TERM RECEIVABLES |
3.262.832,34 |
7.050.843,77 |
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FIXED ASSETS: |
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FIXED ASSETS |
1.057.216,58 |
245.715.320,09 |
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INTANGIBLE |
1.509.108,96 |
27.730.004,65 |
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---------------- |
---------------- |
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TOTAL FIXED ASSETS |
2.566.325,54 |
273.445.324,74 |
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================ |
================ |
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TOTAL ASSETS |
11.601.956,56 |
367.468.591,93 |
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LIABILITIES: |
PRIOR TO THE SPLIT-OFF |
AFTER THE SPLIT-OFF |
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CURRENT: |
31/12/2010 |
31/12/2010 |
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SUPPLIERS |
5.188.813,30 |
16.969.492,32 |
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SALARY, TAXES & CONTRIB. |
132.917,16 |
4.022.892,50 |
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PROFIT SHARING |
483.760,57 |
483.760,57 |
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INCOME TAX/SOCIAL CONTRIBUTION |
244.189,84 |
2.465.287,61 |
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DEBT WITH RELATED PARTIES |
1.510.886,07 |
1.510.886,07 |
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ACCOUNTS PAYABLE |
690.411,63 |
4.821.174,15 |
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LOANS AND FINANCING |
|
24.172.178,04 |
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---------------- |
---------------- |
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TOTAL CURRENT LIABILITIES |
8.250.978,57 |
54.445.671,26 |
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LONG TERM
LIABILITIES: |
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|
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|
LOANS AND FINANCING |
|
58.923.382,97 |
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OTHER |
|
1.479.353,91 |
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PROVISION FOR CONTINGENCIES |
|
1.806.406,49 |
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---------------- |
---------------- |
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TOTAL LONG TERM LIABILITIES |
|
62.209.143,37 |
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NET EQUITY: |
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SHARE CAPITAL |
1.150.981,46 |
248.613.780,77 |
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PROFIT RESERVES |
2.199.996,53 |
2.199.996,53 |
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---------------- |
---------------- |
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TOTAL NET EQUITY |
3.350.977,99 |
250.813.777,30 |
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================ |
================ |
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TOTAL LIABILITIES |
11.601.956,56 |
367.468.591,93 |
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PROFIT AND LOSS ACCOUNTS AS OF 31/12/2010 |
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( FIGURES ARE IN REAIS ). |
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31/12/2010 |
31/12/2010 |
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GROSS SALES |
56.105.384,18 |
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(-) TAXES ON SALES |
44.414.968,63 |
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---------------- |
---------------- |
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NET SALES |
11.690.415,55 |
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(-) COST OF SOLD GOODS |
8.395.370,29 |
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---------------- |
---------------- |
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GROSS PROFIT |
3.295.045,26 |
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OPERATING REVENUE (EXPENSE) |
-1.542.245,66 |
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FINANCIAL REVENUE(EXPENSE) |
77.373,46 |
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---------------- |
---------------- |
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OPERATIONAL PROFIT (LOSS) |
1.830.173,06 |
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CONTRIBUTION/INCOME TAX |
206.713,54 |
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---------------- |
---------------- |
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NET PROFIT (LOSS) |
2.036.886,60 |
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RATIOS: |
31/12/2010 |
31/12/2010 |
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QUICK RATIO |
,53 |
|
,31 |
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CURRENT RATIO |
,70 |
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1,60 |
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ACCOUNTS RECEIVABLE TURNOVER |
5,69 |
TIMES |
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DAYS' SALES IN RECEIVABLES |
63,24 |
DAYS |
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INVENTORY TURNOVER |
6,15 |
TIMES |
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ACCOUNTS PAYABLE PERIOD |
222,50 |
DAYS |
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RETURN ON ASSETS |
1,01 |
TIMES |
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SALES TURNOVER ON NET EQUITY |
3,49 |
TIMES |
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NET WORTH TIE-UP |
,32 |
|
,98 |
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INDEBTEDNESS |
2,46 |
|
,47 |
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EQUITY RATIO |
28,88 |
% |
68,25 |
% |
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WORKING CAPITAL RATIO |
-30,04 |
% |
59,74 |
% |
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GENERAL SOLVENCY |
1,41 |
|
3,15 |
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RETURN ON NET EQUITY |
60,78 |
% |
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RETURN ON SALES (PROFIT MARGIN) |
17,42 |
% |
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GROSS PROFIT MARGIN |
28,19 |
% |
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OPERATIONAL RESULT |
15,66 |
% |
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SALES TURNOVER ON LIABILITIES |
1,42 |
TIMES |
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EXCHANGE RATE: |
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US$ 1,00 = R$ 1,88 |
- OFFICIAL RATE ON 26/04/2012 |
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US$ 1,00 = R$ 1,66 |
- OFFICIAL RATE ON 31/12/2010 |
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COMMENTS ON THE
FINANCIAL INFORMATION: |
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FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS THE FIGURES AVAILABLE FOR THE SUBJECT PRIOR TO THE SPLIT-OFF OF
HYPERMARCAS, SHOW A SATISFACTORY FINANCIAL STANDING. IT HAS LOW LIQUIDITY AND
HIGH LEVEL OF INDEBTEDNESS. ON THE OTHER HAND IT SHOWS HIGH SALES VOLUME AND
POSITIVE RESULT. IN THE ABSENCE OF FINANCIAL INFORMATION NO COMMENTS CAN BE MADE ABOUT
THE SUBJECT'S CURRENT FINANCIAL STANDING. NEVERTHELESS, IT IS WORTH
COMMENTING THAT THE SUBJECT IS CONTROLLED BY THE HYPERMARCAS GROUP, WHICH HAS
VERY HIGH FINANCIAL POWER THUS MAY GIVE THE SUBJECT THE NECESSARY FINANCIAL
POWER. REMARKS: THE FIGURES FOR THE BALANCE SHEET AFTER THE SPLIT-OFF OF HYPERMARCAS
SHOW THE ASSETS AND LIABILITIES WHICH WERE TRANSFERRED FROM HYPERMARCAS TO
THE SUBJECT COMPANY. THOSE FIGURES SHOULD BE USED AS A MATTER OF REFERENCE SHOWING
THE COMPANY SUBJECT HAS BECOME. THE COMPANY DOES NOT DISCLOSE UPDATED FINANCIAL DATA. |
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REAL ESTATE: |
NOT AVAILABLE
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VEHICLES: |
NOT AVAILABLE
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MACHINES: |
NOT AVAILABLE
INSURANCE
|
NOT AVAILABLE. |
BANKING REFERENCES
|
NOT AVIALABLE |
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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
|
THE SUBJECT IS ENGAGED IN THE MANUFACTURE OF FARMACEUTICALS. |
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IMPORT AND
EXPORT: |
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
NOT AVAILABLE. |
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MAIN CLIENTS: |
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DOMESTIC
CLIENTS: |
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*PRINCIPAIS DISTRIBUIDORES |
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ALTO MIUDEZAS |
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AMERICAN FARMA |
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ANB |
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ATHOS |
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AUDIFAR |
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CENTRO AMERICA |
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DROGUISTAS |
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FARMED |
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IMIFARMA |
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JORGE BATISTA |
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NAZÁRIA |
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PANARELLO |
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RECOL |
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SANTA CRUZ |
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SB LOG |
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SERVIMED |
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SUDESTEFARMA |
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TAPAJÓS |
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STAFF: |
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NOT AVAILABLE |
CONCEPT AND FULFILMENT
|
THE SUBJECT IS A WELL-ESTABLISHED SUBSIDIARY OF THE HYPERMARCAS GROUP,
OPERATING SINCE 2002. SO FAR IT HAS A CLEAR TRADE HISTORY AND NORMAL 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. THE PROTESTS FOUND ARE CONSIDERED IRRELEVANT. |
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MAIN SUPPLIERS: |
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DOMESTIC
SUPPLIERS: |
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NOT AVIALABLE |
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PAYMENT HISTORY: |
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06 SUPPLIERS REPORTED PAYMENTS: |
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TOTAL AMOUNT: R$ 488.249,00 |
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AMOUNT OF INVOICES PAID: 47 |
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TOTAL OF PROMPT PAYMENTS: 99,6% |
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TOTAL OF DELAYED PAYMENTS: 0,4% |
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HIGHEST INVOICE: R$ 65.263,00 |
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HIGHEST CREDIT: R$ 90.483,00 |
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OUTSTANDING
INVOICES DUE WITHIN THE NEXT 91 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
1 |
1 |
R$ 6.960,00 |
|
DUE WITHIN 60 DAYS |
1 |
8 |
R$ 63.191,23 |
|
DUE WITHIN 90 DAYS |
1 |
2 |
R$ 32.159,10 |
|
DUE WITHIN 91 DAYS |
1 |
2 |
R$ 24.942,00 |
|
ALL |
2 |
13 |
R$ 127.252,33 |
FINAL OPINION
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS SINCE 2002. IT
HAS JUST BEEN ACQUIRED BY HYPERMARCAS GROUP, WHICH HAS VERY HIGH FINANCIAL
POWER, THUS MAY GIVE THE SUBJECT THE NECESSARY FINANCIAL SUPPORT WHENEVER
REQUIRED. UP TO DATE IT HAS A SATISFACTORY FINANCIAL STANDING, A CLEAR TRADE
HISTORY AND NORMAL 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. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.68 |
|
UK Pound |
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.69.38 |
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.