MIRA INFORM REPORT

 

 

Report Date :

27.07.2013

 

IDENTIFICATION DETAILS

 

Name :

QUIMISA S/A

 

 

Registered Office :

Rodovia Ivo Silveira Km 3, Nº,315 Sala 01 – Bateas 88355-200 - Brusque/Sc

 

 

Country :

Brazil

 

 

Date of Incorporation :

13.08.2009

 

 

Legal Form :

Private Held Corporation

 

 

Line of Business :

Manufacture of Chemicals.

 

 

No. of Employees :

194

 

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

 

COMPAMNY NAME

 

QUIMISA S/A

 

 

ADDRESSES

 

MAIN ADDRESS:

RODOVIA IVO SILVEIRA KM 3, Nº,315 SALA 01 - BATEAS

ZIP CODE/CITY:

88355-200 - BRUSQUE/SC

 

 

PHONE:

47 3251-1010

FAX:

47 3251-1022

E-MAIL:

rafael.bononomi@quimisa.com.br

WEB SITE:

www.quimisa.com.br

 

BRANCHES:

 

 

 

ADDRESS:

RODOVIA BR 116 KM 252, N º,1186 - TRÊS PORTOS

ZIP CODE/CITY:

93212-220 SAPUCAIA DO SUL/RS

CNPJ:

43.683.069/0003-31

STATE REGISTER:

132/0115508

 

 

ADDRESS:

ESTRADA MUNICIPAL,150 - JARDIM ALVORADA

ZIP CODE/CITY:

06620-800 JANDIRA/SP

CNPJ:

43.683.069/0002-50

STATE REGISTER:

398.007.508.113

 

 

ADDRESS:

RUA IBRAHIN IBRAIN,86 - PARQUE INDUSTRIAL

ZIP CODE/CITY:

87600-000 NOVA ESPERANCA/PR

 

 

ADDRESS:

ACESSO 01,479 - DISTRITO INDUSTRIAL II

ZIP CODE/CITY:

19160-000 SALTO DE PIRAPORA/SP

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF CHEMICALS.

 

LEGAL FORM:

PRIVATELY HELD CORPORATION

 

 

INCORPORATION DATE:

13/08/1959

REGISTER DATE:

13/08/1959

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

43.683.069/0001-70

STATE REGISTER:

254.885.268

 

 

SHARE CAPITAL:

R$ 30.000.000,00

LAST REGISTER OF CAPITAL:

31/12/2007

 

BOARD OF DIRECTORS:

 

 

 

MARCIO TAMANINI

ADM./FINANCIAL DIRECTOR

AMILCAR ARNOLDO WEHMUTH

INDUSTRIAL DIRECTOR

 

 

AUTHORIZED USE OF SIGNATURE

 

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

 

SHAREHOLDERS / PARTNERS:

 

 

 

AMWEH EMPREENDIMENTOS E PARTICIPAÇÕES LTDA

24,4%

WR EMPREENDIMENTOS E PARTICIPAÇÕES LTDA

24,4%

OTTOZ SOCIEDAD ANONIMA

48,1%

NICCA CHEMICAL CO. LTD.

2,4%

EDGAR FRIEDRICH PASTOR

0,1%

DANIEL WEHMUTH

0,1%

TEOFILO JAN ZADROZNY

0,1%

ROGERIO GILBERTO WEHMUTH

0,1%

IVENS FREITAG

0,1%

GILBERTO RENAUX

0,1%

AMILCAR ARNOLDO WEHMUTH

0,1%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

QUIMILOG TRANSPORTE E LOGISTICA

 

UBS -  DOW QUIMICA S/A

 

WRA EMPREENDIMENTOS IMOBILIARIOS LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON AUGUST 13, 1959 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

IN 1994, THE SUBJECT CHANGED ITS CORPORATE NAME FROM COMERCIAL SANTA CATARINA LTDA TO QUIMISA INDÚSTRIA E COMÉRCIO LTDA. LATER, THE SUBJECT CHANGED ITS LEGAL FORM FROM LIMITED LIABILITY COMPANY TO PRIVATELY HELD CORPORATION AND ADOPTED THE PRESENT REGISTERED NAME.

 

ON JANUARY 03, 2005 THERE WAS A MERGER OF THE COMPANY QUIMISA S/A INDÚSTRIA E COMÉRCIO WITH ELETROQUIMICA ANILINAS E PRODUTOS QUÍMICOS LTDA., DUE TO STRATEGIC AND CORPORATE REORGANIZATION, AND AS A RESULT WAS CREATED A SINGLE COMPANY NAMED QUIMISA S/A, UNDER CNPJ: 43.683.069/0001-70.

 

THE COMPANY OPERATES WITH THE TRADE NAME QUIMISA.

 

FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY ARE SO FAR NOT KNOWN.

 

PUBLIC INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 

 

FINANCIAL INFORMATION

 

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

 

 

 

 

CASH AND BANKS

25.343.881,00

12.266.797,00

13.414.672,00

CLIENTS

23.615.957,00

20.592.831,00

17.812.501,00

INVENTORY

23.550.102,00

20.866.621,00

26.518.103,00

RECOVERABLE TAXES

1.051.934,00

1.395.256,00

4.120.988,00

OTHER

931.172,00

1.107.332,00

1.276.879,00

PRE PAID EXPENSES

55.059,00

58.631,00

50.462,00

OTHER ADVANCES

508.271,00

5.978.527,00

90.697,00

 

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

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

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

TOTAL CURRENT ASSETS

75.056.376,00

62.265.995,00

63.284.302,00

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

OTHER CREDITS

241.651,00

5.160.044,00

429.910,00

 

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

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

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

TOTAL LONG-TERM RECEIVABLES

241.651,00

5.160.044,00

429.910,00

 

FIXED ASSETS:

 

 

 

 

 

 

 

INVESTMENTS

5.080.546,00

4.401.791,00

3.447.515,00

FIXED ASSETS

41.938.748,00

42.466.700,00

43.592.059,00

INTANGIBLE

28.417,00

30.567,00

32.591,00

 

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

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

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

TOTAL FIXED ASSETS

47.047.711,00

46.899.058,00

47.072.165,00

 

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

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

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

TOTAL ASSETS

122.345.738,00

114.325.097,00

110.786.377,00

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2012

31/12/2011

31/12/2010

 

 

 

 

SUPPLIERS

9.931.402,00

9.575.440,00

8.514.329,00

LABOR OBLIGATIONS

1.554.778,00

1.876.401,00

2.307.196,00

TAXES & CONTRIBUTIONS

2.298.437,00

1.391.839,00

1.077.355,00

LOANS AND FINANCING

7.639.831,00

4.918.090,00

10.611.289,00

DEBT WITH SHAREHOLDERS

7.099.702,00

4.639.772,00

3.770.091,00

OTHER

1.221.842,00

1.270.024,00

2.098.121,00

 

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

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

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

TOTAL CURRENT LIABILITIES

29.745.992,00

23.671.566,00

28.378.381,00

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

LOANS AND FINANCING

9.944.488,00

7.915.780,00

3.289.551,00

TRIBUTARY OBLIGATIONS

8.960.744,00

8.997.270,00

9.178.433,00

 

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

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

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

TOTAL LONG TERM LIABILITIES

18.905.232,00

16.913.050,00

12.467.984,00

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

30.000.000,00

30.000.000,00

30.000.000,00

CAPITAL RESERVES

169.163,00

169.163,00

169.163,00

PROFIT RESERVES

25.885.371,00

24.860.787,00

20.582.982,00

REVALUATION RESERVES

1.119.575,00

1.245.243,00

1.370.910,00

OTHER COMPREHENSIVE INCOME

16.520.405,00

17.465.288,00

17.816.957,00

 

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

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

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

TOTAL NET EQUITY

73.694.514,00

73.740.481,00

69.940.012,00

 

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

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

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

TOTAL LIABILITIES

122.345.738,00

114.325.097,00

110.786.377,00

 

 

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

 

 

 

 

NET SALES

154.420.197,00

133.275.473,00

129.512.905,00

(-) COST OF SOLD GOODS

118.520.564,00

98.442.180,00

91.892.860,00

 

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

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

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

GROSS PROFIT

35.899.633,00

34.833.293,00

37.620.045,00

OPERATING REVENUE (EXPENSE)

-28.172.866,00

-24.121.494,00

-22.241.169,00

FINANCIAL REVENUE(EXPENSE)

-3.616.050,00

-2.942.520,00

-2.133.538,00

 

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

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

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

OPERATIONAL PROFIT (LOSS)

4.110.717,00

7.769.279,00

13.245.338,00

CONTRIBUTION/INCOME TAX

-881.959,00

-979.585,00

-2.904.015,00

PROFIT SHARING

-123.018,00

-521.646,00

-1.060.365,00

INTERESTS ON OWN CAPITAL

2.946.445,00

2.201.837,00

2.491.346,00

 

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

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

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

NET PROFIT (LOSS)

6.052.185,00

8.469.885,00

11.772.304,00

 

RATIOS:

31/12/2012

31/12/2011

31/12/2010

 

QUICK RATIO

1,73

 

1,75

 

1,30

 

CURRENT RATIO

2,52

 

2,63

 

2,23

 

ACCOUNTS RECEIVABLE TURNOVER

6,54

TIMES

6,47

TIMES

7,27

TIMES

DAYS' SALES IN RECEIVABLES

55,06

DAYS

55,62

DAYS

49,51

DAYS

INVENTORY TURNOVER

5,03

TIMES

4,72

TIMES

3,47

TIMES

ACCOUNTS PAYABLE PERIOD

30,17

DAYS

35,02

DAYS

33,36

DAYS

RETURN ON ASSETS

1,26

TIMES

1,17

TIMES

1,17

TIMES

SALES TURNOVER ON NET EQUITY

2,10

TIMES

1,81

TIMES

1,85

TIMES

NET WORTH TIE-UP

,57

 

,58

 

,62

 

INDEBTEDNESS

,66

 

,55

 

,58

 

EQUITY RATIO

60,23

%

64,50

%

63,13

%

WORKING CAPITAL RATIO

152,32

%

163,04

%

123,00

%

GENERAL SOLVENCY

2,51

 

2,82

 

2,71

 

RETURN ON NET EQUITY

8,21

%

11,49

%

16,83

%

RETURN ON SALES (PROFIT MARGIN)

3,92

%

6,36

%

9,09

%

GROSS PROFIT MARGIN

23,25

%

26,14

%

29,05

%

OPERATIONAL RESULT

2,66

%

5,83

%

10,23

%

SALES TURNOVER ON LIABILITIES

5,19

TIMES

5,63

TIMES

4,56

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,22

 - OFFICIAL RATE ON 22/07/2013

US$ 1,00 = R$ 2,04

 - OFFICIAL RATE ON 31/12/2012

US$ 1,00 = R$ 1,87

 - OFFICIAL RATE ON 31/12/2011

US$ 1,00 = R$ 1,66

 - OFFICIAL RATE ON 31/12/2010

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS.

 

THE FIGURES AVAILABLE SHOW A GOOD FINANCIAL STANDING. IT SHOWS GOOD LIQUIDITY RATIOS WITH POSITIVE WORKING CAPITAL AMOUNT AND LOW LEVEL OF INDEBTEDNESS AS WELL AS GROWING SALES AND PROFITABILITY.

 

REAL ESTATE:

 

OWNED PREMISES ARE VALUED AT R$ 34.288.438,00

 

VEHICLES:

 

OWNED VEHICLES ARE VALUED AT R$ 1.933.224,00

 

MACHINES:

 

OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 1.628.801,00

 

 

 

INSURANCE

 

INSURANCE COMPANY:

SUL AMÉRICA SEGUROS

COVERAGE:

VEHICLES

VALUE:

R$ 7.500.000,00

 

 

INSURANCE COMPANY:

SUL AMERICA SEGUROS

COVERAGE:

FIRE

VALUE:

R$ 9.000.000,00

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO BANRISUL S/A

47 3326-4366

BLUMENAU/SC

BANCO BRADESCO S/A

47 3322-9788

BLUMENAU/SC

BANCO ITAÚ S/A

47 3326-4244

BLUMENAU/SC

BANCO DO BRASIL S/A

47 3321-2585

BLUMENAU/SC

 

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

 

SUBJECT IS ENGAGED IN THE MANUFACTURE OF CHEMICALS AS WELL AS TRADE, REPRESENTATION, IMPORT AND EXPORT OF SUCH PRODUCTS.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

GERMANY, UNITED STATES, MERCOSUR, CHILE AND CHINA

 

EXPORTS TO:

DOES NOT EXPORT.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

PHONE:

ARLEX S/A

 

47 322-1833

BUETHER S/A INDÚSTRIA E COMÉRCIO

 

47 355-4000

CIA HERING

 

 

COTEMINAS S/A

 

47 324-1833

CREMER S/A

 

47 321-8000

FÁBRICA DE TECIDOS CARLOS RENAUX S/A

 

47 351-0922

KARSTEN S/A

 

47 331-4000

MAGNOTRON INDÚSTRIA DE COLCHÕES LTDA

 

51 421-2828

MALWEE MALHAS LTDA

 

47 372-7200

MARISOL S/A

 

 

TÊXTIL RENAUX S/A

 

47 255-1000

 

STAFF:

 

THE COMPANY HAS: 194 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS AN OLD AND WELL-ESTABLISHED COMPANY OPERATING SINCE 1959. IT HAS A GROWING SCALE OF ACTIVITIES AND SO FAR NOTHING DETRIMENTAL IS REGISTERED AGAINST ITS BUSINESS HISTORY.

 

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:

BASF S/A

 

11 4343-2992

COGNIS BRASIL LTDA

 

 

CROMPTON LTDA

 

11 4534-9600

DEGUSSA BRASIL LTDA

 

27 3270-8800

DOW BRASIL S/A

 

11 5188-9363

DYSTATR LTDA

 

11 5185-4232

GIRONA EMBLAGENS IND. LTDA

 

11 3071-3123

WILCO DO BRASIL LTDA

 

11  870-3866

 

PAYMENT HISTORY:

 

11 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 446.070,00

 

AMOUNT OF INVOICES PAID: 57

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 127.500,00

HIGHEST CREDIT: R$ 24.678,20

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 30 DAYS:

 

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

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

1

1

R$ 359,20

 

 

FINAL OPINION

 

THE SUBJECT IS AN OLD AND WELL-ESTABLISHED COMPANY IN BUSINESS FOR OVER 40 YEARS. UP TO DATE IT HAS GOOD FINANCIAL STANDING, A CLEAR TRADE HISTORY 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 SUBJECT HAS FINANCIAL STRENGTH AND IS CONSIDERED CREDITWORTHY FOR THE ABOVE AMOUNT OF CREDIT. HOWEVER, AS A VERY HIGH AMOUNT IS INVOLVED, THE USUAL CAUTION IS ALWAYS RECOMMENDED. AN INITIAL CREDIT LIMIT OF USD 1.000.000,00 MAY BE CONSIDERED.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.58.91

UK Pound

1

Rs.90.68

Euro

1

Rs.78.22

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

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.