|
Report Date : |
10.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ZANOTTI S A |
|
|
|
|
Registered Office : |
Rua Germano Wagner, 1000 – Centenário, 89256-800 - Jaraguá Do Sul/Sc |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
02.05.1984 |
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
Line of Business : |
Manufacture of Textiles |
|
|
|
|
No. of Employees : |
1800 |
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 |
|
|
|
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Brazil |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BRAZIL - ECONOMIC
OVERVIEW
Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% in 2011, and 1.3% in 2012. Unemployment is at historic lows and Brazil's traditionally high level of income inequality has declined for each of the last 14 years. Brazil's historically high interest rates have made it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchange markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint. In an effort to boost growth, in 2012 the administration implemented a somewhat more expansionary monetary policy that has failed to stimulate much growth.
|
Source
: CIA |
ZANOTTI S/A
|
MAIN ADDRESS: |
RUA GERMANO WAGNER, 1000 - CENTENÁRIO |
|
ZIP CODE/CITY: |
89256-800 - JARAGUÁ DO SUL/SC |
|
|
|
|
PHONE: |
47 3372-5013 |
|
FAX: |
47 3372-5013 |
|
E-MAIL: |
elnor@zanotti.com.br |
|
WEB SITE: |
www.zanotti.com.br |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
RUA EXPEDICIONÁRIO ANTONIO CARLOS FERREIRA, 314 CENTRO |
|
ZIP CODE/CITY: |
89252-101 JARAGUÁ DO SUL/SC |
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF TEXTILES. |
|
LEGAL FORM: |
PRIVATELY HELD
CORPORATION |
|
|
|
|
INCORPORATION DATE: |
02/05/1984 |
|
REGISTER DATE: |
02/05/1984 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
78.256.336/0001-07 |
|
STATE REGISTER: |
251.057.143 |
|
|
|
|
SHARE CAPITAL: |
R$ 343.417.978,00 |
|
LAST REGISTER OF CAPITAL: |
17/01/2008 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
VALDEMAR ZANOTTI |
PRESIDENT DIRECTOR |
|
MARILI SULEICA MULLER ZANOTTI |
EXECUTIVE DIRECTOR |
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
TURIM ADMINISTRADORA DE BENS E PARTICIPAÇÕES LTDA |
95,050% |
|
CIMPAR PARTICIPAÇÕES LTDA |
4,610% |
|
FIX INVESTIMENTOS LTDA |
0,330% |
|
VALDEMAR ZANOTTI |
0,010% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
ZANOTTI PACATUBA INDÚSTRIA E COMÉRCIO DE ARTIGOS TÊXTEIS LTDA |
|
|
THE SUBJECT WAS ESTABLISHED ON MAY 02, 1984 AS ZANOTTI INDÚSTRIA E
COMÉRCIO DE ELÁSTICOS LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON MAY
31, 2000 IT ADOPTED THE ABOVE-MENTIONED NAME AND UP TO DATE IT IS STILL
OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN. TRADE NAME: "ZANOTTI". FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN CONTACTING THE SUBJECT WE INTERVIEWED MS. ALESSANDRA, 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. |
|
PUBLIC INFORMATION: |
|
NO DETRIMENTAL FILES WERE FOUND. |
|
GENERAL BALANCE SHEETS AS OF 31/12/2012, 31/12/2011 AND 31/12/2010. |
|
( FIGURES ARE IN REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
|
|
|
|
ACCOUNTS RECEIVABLE |
253.194.492,00 |
262.028.469,00 |
262.770.557,00 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
253.194.492,00 |
262.028.469,00 |
262.770.557,00 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
OTHER CREDITS |
170.878.368,00 |
165.854.752,00 |
147.435.882,00 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
170.878.368,00 |
165.854.752,00 |
147.435.882,00 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
424.072.860,00 |
427.883.221,00 |
410.206.439,00 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
|
|
|
|
ACCOUNTS PAYABLE |
17.817.775,00 |
27.363.317,00 |
23.053.842,00 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
17.817.775,00 |
27.363.317,00 |
23.053.842,00 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
OTHER |
7.738.080,00 |
7.351.877,00 |
5.852.164,00 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
7.738.080,00 |
7.351.877,00 |
5.852.164,00 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
343.417.978,00 |
343.417.978,00 |
343.417.978,00 |
|
OTHER |
13.750.049,00 |
11.256.773,00 |
11.109.484,00 |
|
PROFIT (LOSS) OF PERIOD |
41.348.978,00 |
38.493.276,00 |
26.772.971,00 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
398.517.005,00 |
393.168.027,00 |
381.300.433,00 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
424.072.860,00 |
427.883.221,00 |
410.206.439,00 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2012, 31/12/2011 AND 31/12/2010. |
|
( FIGURES ARE IN REAIS ). |
|
|
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
|
|
|
|
GROSS SALES |
255.410.760,00 |
255.931.620,00 |
285.244.123,00 |
|
(-) TAXES ON SALES |
52.535.482,00 |
51.547.855,00 |
57.382.657,00 |
|
|
---------------- |
---------------- |
---------------- |
|
NET SALES |
202.875.278,00 |
204.383.765,00 |
227.861.466,00 |
|
(-) COST OF SOLD GOODS |
123.500.511,00 |
128.053.015,00 |
153.117.858,00 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
79.374.767,00 |
76.330.750,00 |
74.743.608,00 |
|
OPERATING REVENUE (EXPENSE) |
-19.912.277,00 |
-21.808.917,00 |
-33.861.286,00 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
59.462.490,00 |
54.521.833,00 |
40.882.322,00 |
|
CONTRIBUTION/INCOME TAX |
-18.113.545,00 |
-16.027.556,00 |
-14.109.351,00 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
41.348.945,00 |
38.494.277,00 |
26.772.971,00 |
|
RATIOS: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
QUICK RATIO |
14,21 |
|
9,58 |
|
11,40 |
|
|
CURRENT RATIO |
14,21 |
|
9,58 |
|
11,40 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
|
|
|
|
|
|
|
DAYS' SALES IN RECEIVABLES |
|
|
|
|
|
|
|
INVENTORY TURNOVER |
|
|
|
|
|
|
|
ACCOUNTS PAYABLE PERIOD |
|
|
|
|
|
|
|
RETURN ON ASSETS |
,48 |
TIMES |
,48 |
TIMES |
,56 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
,51 |
TIMES |
,52 |
TIMES |
,60 |
TIMES |
|
NET WORTH TIE-UP |
|
|
|
|
|
|
|
INDEBTEDNESS |
,06 |
|
,09 |
|
,08 |
|
|
EQUITY RATIO |
93,97 |
% |
91,89 |
% |
92,95 |
% |
|
WORKING CAPITAL RATIO |
1.321,02 |
% |
857,59 |
% |
1.039,81 |
% |
|
GENERAL SOLVENCY |
16,59 |
|
12,33 |
|
14,19 |
|
|
RETURN ON NET EQUITY |
10,38 |
% |
9,79 |
% |
7,02 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
20,38 |
% |
18,83 |
% |
11,75 |
% |
|
GROSS PROFIT MARGIN |
39,12 |
% |
37,35 |
% |
32,80 |
% |
|
OPERATIONAL RESULT |
29,31 |
% |
26,68 |
% |
17,94 |
% |
|
SALES TURNOVER ON LIABILITIES |
11,39 |
TIMES |
7,47 |
TIMES |
9,88 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
US$ 1,00 = R$ 2,35 |
|
US$ 1,00 = R$ 2,04 |
|
US$ 1,00 = R$ 1,87 |
|
US$ 1,00 = R$ 1,66 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE FIGURES AVAILABLE SHOW GOOD FINANCIAL STANDING. IT IS NOTED HIGH
LIQUIDITY RATIOS AND VERY HIGH WORKING CAPITAL AMOUNT, AS WELL AS VERY LOW
LEVEL OF INDEBTEDNESS. SALES DROPPED BUT POSTED HIGH PROFIT. REMARKS: THE COMPANY DID NOT PUBLISH THE BREAKDOWN OF THE ASSETS AND
LIABILITIES. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$ 20.000.000,00
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$ 250.000,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 40.000.000,00
|
INSURANCE COMPANY: |
BRADESCO SEGUROS S/A |
|
COVERAGE: |
ENTERPRISE / VEHICLES |
|
|
|
|
INSURANCE COMPANY: |
ACE SEGURADORA S/A |
|
COVERAGE: |
CIVIL LIABILITY |
|
|
BRANCH/PHONE: |
|
|
BANCO BRADESCO S/A |
0356-5 / 47 3371-1800 |
|
|
BANCO DO BRASIL S/A |
3428-2 / 47 3431-2000 |
|
|
BANCO ITAÚ S/A |
0862 / 47 3433-2237 |
|
|
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"). |
|
SUBJECT IS ENGAGED IN THE PRODUCTION, COMMERCIALIZATION, IMPORT AND
EXPORT OF ELASTICS, SHOELACES, TAPES, YARNS, THE RENDERING OF DYEING
SERVICES, MANAGEMENT OF REAL ESTATES AND PARTICIPATION IN OTHER COMPANIES. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
GERMANY, SINGAPORE, INDONESIA, MALAYSIA AND THAILAND. |
EXPORTS TO:
|
ARGENTINA, PARAGUAY, VENEZUELA AND PERU. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
PHONE: |
|
COMERCIAL DE TECIDOS CAMPINA |
|
|
|
D.R. LINGERIE INDÚSTRIA E COMÉRCIO LTDA |
|
|
|
LUTESTIL IND. COMÉRCIO DE ROUPAS LTDA |
|
11 6783-9599 |
|
MARISOL S/A |
|
|
|
NOVA ERA COMÉRCIO DE AVIAMENTOS |
|
|
|
PHAEL |
|
17 3482-9828 |
|
S.C. DO AMARAL CONFECÇÕES |
|
|
|
SARA LEE BRASIL |
|
11 3611-8199 |
|
STAFF: |
|
|
|
THE COMPANY HAS: 1800 EMPLOYEE(S) |
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1984. SO
FAR IT HAS A CLEAR TRADE HISTORY AND VERY GOOD PAYMENT BEHAVIOR. IT IS A FAMILY-RUN
COMPANY AND BOTH THE COMPANY AND THE PRINCIPALS ENJOY A FAVORABLE REPUTATION
AMONG LOCAL TRADE SOURCES. 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: |
|
CIBA ESPECIALIDADES QUÍMICAS |
|
11 7968-9890 |
|
FILLATTICE DO BRASIL |
|
11 3707-1070 |
|
ITANORTE |
|
47 3323-6575 |
|
PLÁSTICOS ZANOTTI |
|
|
|
FOREIGN
SUPPLIERS: |
COUNTRY: |
|
|
MILL HOUSE INTERNATIONAL LTD |
SINGAPORE |
|
|
NATURAL RUBBER THREAD |
THAILAND |
|
|
PT INDORAMA SYNTHETICS TBK |
INDONESIA |
|
|
RUBBERFLEX SDN BHD |
MALAYSIA |
|
|
PAYMENT HISTORY: |
|
18 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 472.228,00 |
|
|
|
AMOUNT OF INVOICES PAID: 222 |
|
TOTAL OF PROMPT PAYMENTS: 100% |
|
HIGHEST INVOICE: R$ 38.432,00 |
|
HIGHEST CREDIT: R$ 38.432,00 |
|
|
|
OUTSTANDING INVOICES
DUE WITHIN THE NEXT 30 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
2 |
2 |
R$ 1.784,25 |
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS.
UP TO DATE IT HAS GOOD FINANCIAL STANDING, A CLEAR TRADE HISTORY AND GOOD
PAYMENT BEHAVIOUR. 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.61.18 |
|
|
1 |
Rs.100.01 |
|
Euro |
1 |
Rs.83.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.