MIRA INFORM REPORT

 

 

Report Date :

25.10.2013

 

IDENTIFICATION DETAILS

 

Name :

VALDEQUIMICA PRODUTOS QUÍMICOS LTDA

 

 

Registered Office :

Rua Dos Três Irmãos,212 / 218 - Vila Progredior 05615-190 - São Paulo/Sp

 

 

Country :

Brazil

 

 

Financials (as on) :

30.06.2013

 

 

Date of Incorporation :

24.07.1972

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale and import of chemical and pharmaceutical products, with its core products being vitamines and antibiotics.

 

 

No. of Employees :

54

 

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

Company name and address

 

VALDEQUIMICA PRODUTOS QUÍMICOS LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

RUA DOS TRÊS IRMÃOS,212 / 218 - VILA PROGREDIOR

ZIP CODE/CITY:

05615-190 - São Paulo/Sp

 

 

PHONE:

11 3721-6407

FAX:

11 3721-6407

E-MAIL:

irineuconti@uol.com.br

WEB SITE:

www.valdequimica.com.br

 

BRANCHES:

 

 

 

ADDRESS:

AVENIDA PROFESSOR FRANCISCO MORATO,1815 - BUTANTÃ

ZIP CODE/CITY:

05513-200 SÃO PAULO/SP

 

 

ADDRESS:

AVENIDA CÉSAR SIMÕES,361 - JARDIM HENRIQUETA

ZIP CODE/CITY:

06764-480 TABOÃO DA SERRA/SP

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

WHOLESALE AND IMPORT OF CHEMICAL AND PHARMACEUTICAL PRODUCTS, WITH ITS CORE PRODUCTS BEING VITAMINES AND ANTIBIOTICS.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

24/07/1972

REGISTER DATE:

16/08/1972

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

43.365.816/0001-21

STATE REGISTER:

108.802.143.113

 

 

SHARE CAPITAL:

R$ 5.000.000,00

LAST REGISTER OF CAPITAL:

30/11/2012

 

BOARD OF DIRECTORS:

 

 

 

ALBANO JOSÉ PEREIRA DOS SANTOS

MANAGER

PAULO APARECIDO PEREZ MARTINS

MANAGER

 

 

AUTHORIZED USE OF SIGNATURE

 

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

 

 

SHAREHOLDERS / PARTNERS:

 

 

 

ALBANO JOSÉ PEREIRA DOS SANTOS

50%

PAULO APARECIDO PEREZ MARTINS

50%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

OVERBOARD ARTIGOS ESPORTIVOS LTDA

50,00%

HANDLE ARTIGOS ESPORTIVOS LTDA

50,00%

AMANDA ARTIGOS ESPORTIVOS LTDA

50,00%

STANCH ARTIGOS ESPORTIVOS LTDA

50,00%

ENTEMPO ARTIGOS ESPORTIVOS LTDA

50,00%

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED IN 1972 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

THE COMPANY OPERATES WITH THE TRADE NAME "VALDEQUIMICA".

 

PARTNERS:

 

ALBANO JOSÉ PEREIRA DOS SANTOS: PORTUGUESE, MARRIED, TRADER, HOLDER OF DOCUMENTS RNE # W 700.522-Z - SE/DPMAF, CPF # 295.794.908-30, RESIDENTIAL ADDRESS AT RUA DR. ORLANDO ZAMITI MAMMANA, 33, APTO. 41, CHÁCARA DO ENCOSTO, ZIP CODE 02417-022, SÃO PAULO/SP;

 

PAULO APARECIDO PEREZ MARTINS: BRAZILIAN, MARRIED, TRADER, HOLDER OF DOCUMENTS RG # 6.353.323-SSP-SP, CPF # 515.987.448-87, RESIDENTIAL ADDRESS AT RUA SÃO VICENTE DE PAULA, 606, APTO. 111, SANTA CECÍLIA, ZIP CODE 01229-010, SÃO PAULO/SP.

 

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 30/06/2013, 31/12/2012 AND 31/12/2011.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

30/06/2013

31/12/2012

31/12/2011

 

 

 

 

CASH

10.763,61

10.763,61

7.151,39

BANKS

161.898,02

161.898,02

441.748,81

INVESTMENTS

39.834,79

39.834,79

23.683,57

CLIENTS

4.910.702,80

4.910.702,80

4.127.820,39

INVENTORY

10.750.160,93

10.746.056,18

8.962.664,58

RECOVERABLE TAXES

205.885,76

209.990,01

257.795,37

ADVANCES

202.153,95

243.375,03

442.353,86

 

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

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

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

TOTAL CURRENT ASSETS

16.281.399,86

16.322.620,44

14.263.217,97

 

FIXED ASSETS:

 

 

 

 

 

 

 

INVESTMENTS

3.386,21

3.386,21

3.386,21

FIXED ASSETS

1.556.519,30

1.556.519,30

1.353.327,20

DEPRECIATIONS

-34.015,49

-34.015,49

-34.015,49

 

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

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

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

TOTAL FIXED ASSETS

1.525.890,02

1.525.890,02

1.322.697,92

 

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

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

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

TOTAL ASSETS

17.807.289,88

17.848.510,46

15.585.915,89

 

LIABILITIES:

 

 

 

CURRENT:

30/06/2013

31/12/2012

31/12/2011

 

 

 

 

SUPPLIERS

1.094.943,43

1.136.164,51

674.082,58

SALARIES PAYABLE

70.261,12

70.261,12

52.954,47

SOCIAL OBLIGATIONS

106.987,34

106.987,34

52.099,55

TRIBUTARY OBLIGATIONS

31.942,17

31.941,67

345.774,39

LOANS AND FINANCING

4.086.957,24

4.086.957,24

4.733.211,42

IMPORTS PAYABLE

5.090.239,00

5.090.239,00

3.213.162,23

ACCOUNTS PAYABLE

80.478,16

80.478,16

51.016,32

ADVANCE FROM CLIENTS

316.030,06

316.030,06

 

MUTUAL CONTRACT

110.000,00

110.000,00

110.000,00

OTHER

3.734,95

3.734,95

78.132,75

 

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

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

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

TOTAL CURRENT LIABILITIES

10.991.573,47

11.032.794,05

9.310.433,71

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

5.000.000,00

5.000.000,00

2.500.000,00

ACCRUED PROFIT (LOSS)

1.815.716,41

1.815.716,41

3.775.482,18

 

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

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

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

TOTAL NET EQUITY

6.815.716,41

6.815.716,41

6.275.482,18

 

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

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

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

TOTAL LIABILITIES

17.807.289,88

17.848.510,46

15.585.915,89

 

PROFIT AND LOSS ACCOUNTS AS OF 30/06/2013, 31/12/2012 AND 31/12/2011.

( FIGURES ARE IN REAIS ).

 

 

30/06/2013

31/12/2012

31/12/2011

 

 

 

 

GROSS SALES

27.335.785,40

47.279.508,04

38.736.680,10

(-) TAXES ON SALES

4.850.937,68

8.493.647,45

7.034.802,75

 

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

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

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

NET SALES

22.484.847,72

38.785.860,59

31.701.877,35

(-) COST OF SOLD GOODS

15.270.373,24

26.368.085,83

18.768.092,79

 

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

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

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

GROSS PROFIT

7.214.474,48

12.417.774,76

12.933.784,56

OPERATING REVENUE (EXPENSE)

-5.451.241,99

-8.319.991,89

-7.767.771,66

FINANCIAL REVENUE(EXPENSE)

-456.164,99

-1.742.766,59

-1.124.109,23

 

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

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

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

OPERATIONAL PROFIT (LOSS)

1.307.067,50

2.355.016,28

4.041.903,67

CONTRIBUTION/INCOME TAX

-432.402,92

-782.216,99

-1.350.247,24

 

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

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

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

NET PROFIT (LOSS)

874.664,58

1.572.799,29

2.691.656,43

 

MONTHLY SALES

 

  2013

  2012

 

 

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

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

 

JANUARY

R$ 5.477.855,00

R$ 3.599.541,57

 

FEBRUARY

R$ 3.918.127,13

R$ 3.140.641,04

 

MARCH

R$ 4.118.629,91

R$ 4.112.343,67

 

APRIL

R$ 4.991.232,32

R$ 3.320.438,87

 

MAY

R$ 4.409.766,58

R$ 4.399.299,54

 

JUNE

R$ 4.420.174,46

R$ 3.616.647,17

 

JULY

R$ 5.781.049,61

R$ 4.507.189,60

 

AUGUST

R$ 5.222.657,62

R$ 4.624.322,60

 

SEPTEMBER

R$ 5.194.687,36

R$ 4.165.126,82

 

OCTOBER

 

R$ 4.338.035,50

 

NOVEMBER

 

R$ 3.900.428,34

 

DECEMBER

 

R$ 3.555.493,32

 

TOTAL

R$ 43.534.179,99

R$ 47.279.508,04

 

 

RATIOS:

30/06/2013

31/12/2012

31/12/2011

 

QUICK RATIO

,50

 

,51

 

,57

 

CURRENT RATIO

1,48

 

1,48

 

1,53

 

ACCOUNTS RECEIVABLE TURNOVER

4,58

TIMES

7,90

TIMES

7,68

TIMES

DAYS' SALES IN RECEIVABLES

39,31

DAYS

45,58

DAYS

46,87

DAYS

INVENTORY TURNOVER

1,42

TIMES

2,45

TIMES

2,09

TIMES

ACCOUNTS PAYABLE PERIOD

12,91

DAYS

15,51

DAYS

12,93

DAYS

RETURN ON ASSETS

1,26

TIMES

2,17

TIMES

2,03

TIMES

SALES TURNOVER ON NET EQUITY

3,30

TIMES

5,69

TIMES

5,05

TIMES

NET WORTH TIE-UP

,23

 

,23

 

,22

 

INDEBTEDNESS

1,61

 

1,62

 

1,48

 

EQUITY RATIO

38,27

%

38,19

%

40,26

%

WORKING CAPITAL RATIO

48,13

%

47,95

%

53,20

%

GENERAL SOLVENCY

1,62

 

1,62

 

1,67

 

RETURN ON NET EQUITY

12,83

%

23,08

%

42,89

%

RETURN ON SALES (PROFIT MARGIN)

3,89

%

4,06

%

8,49

%

GROSS PROFIT MARGIN

32,09

%

32,02

%

40,80

%

OPERATIONAL RESULT

5,81

%

6,07

%

12,75

%

SALES TURNOVER ON LIABILITIES

2,05

TIMES

3,52

TIMES

3,41

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,16

 - OFFICIAL RATE ON 18/10/2013

US$ 1,00 = R$ 2,22

 - OFFICIAL RATE ON 30/06/2013

US$ 1,00 = R$ 2,04

 - OFFICIAL RATE ON 31/12/2012

US$ 1,00 = R$ 1,87

 - OFFICIAL RATE ON 31/12/2011

 

 

COMMENTS ON THE FINANCIAL INFORMATION

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS

 

THE ANNUAL FIGURES AVAILABLE SHOW A NORMAL FINANCIAL STANDING. THE LEVEL OF INDEBTEDNESS IS HIGH BUT IT IS NOTED GOOD CURRENT RATIO AND POSITIVE WORKING CAPITAL AMOUNT. IN ADDITION IT SHOWS GROWING SALES AND PROFITABILITY.

 

THE INTERIM FIGURES FOR JUNE 2013 SHOW MAINTENANCE IN THE FINANCIALS. THE INDEBTEDNESS KEEPS HIGH BUT THE CURRENT RATIO IS GOOD. IN ADDITION IT IS NOTED GROWING SALES TREND AND THE OPERATIONS ARE PROFITABLE.

 

 

REAL ESTATE

 

   OWNED PREMISES ARE VALUED AT R$ 100.000,00

 

   THE PARTNERS OWN REAL ESTATE VALUED AT  R$ 925.000,00

 

VEHICLES

 

   OWNED VEHICLES ARE VALUED AT R$ 226.208,32

 

 

MACHINES

 

  OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 32.114,00

 

 

INSURANCE

 

INSURANCE COMPANY:

CGV CIA.

COVERAGE:

SEVERAL CORPORATE RISKS

VALUE:

R$ 1.368.000,00

 

 

INSURANCE COMPANY:

BRADESCO/MARITIMA

COVERAGE:

VEHICLES

VALUE:

R$ 10.000,00

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO BRADESCO S/A

11 3721-5233

SÃO PAULO/SP

BANCO DO BRASIL S/A

11 6845-8360

SÃO PAULO/SP

BANCO ITAU S/A

11 6950-1438

SÃO PAULO/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

 

 

THE SUBJECT IS ENGAGED IN THE WHOLESALE AND IMPORT OF CHEMICAL AND PHARMACEUTICAL PRODUCTS, WITH ITS CORE PRODUCTS BEING VITAMINES AND ANTIBIOTICS.

 

 

 

IMPORT AND EXPORT

 

   IMPORTS FROM:

 

MEXICO, ARGENTINA, URUGUAY, ENGLAND, ITALY, SWITZERLAND, KOREA, ISRAEL, NORWAY, CHINA, INDIA, JAPAN, UNITED STATES, SPAIN, GERMANY AND DENMARK.

 

   EXPORTS TO:

DOES NOT EXPORT.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

PHONE:

ACHE LABORATÓRIOS FARMACÊUTICOS S/A

 

11 3961-6000

BELFAR LTDA

 

31 3492-1100

CIFARMA CIENTIFICA FARMACÊUTICA LTDA

 

31 3641-4100

EUROFARMA LABORATÓRIOS LTDA

 

11 5090-8774

HEXAL DO BRASIL LTDA

 

11 3276-6733

HIPOLABOR FARMACÊUTICA LTDA

 

31 3691-1133

INSTITUTO TERAPÊUTICO DELTA LTDA

 

11 3910-2311

KLEY HERTZ S/A

 

51 3346-8488

LABORATÓRIO SINTOFARMA S/A

 

11 7967-3100

LABORATÓRIO TEUTO BRASILEIRO LTDA

 

62 3310-2005

LUPER INDÚSTRIA FARMACÊUTICA LTDA

 

11 7844-1066

ROYTON QUÍMICA FARMACÊUTICA LTDA

 

11 3820-9060

SANTA CASA DE MISERICÓRDIA DE BAURU

 

14 3223-3977

 

STAFF:

 

THE COMPANY HAS: 54 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1972. IT HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

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:

AB FARMO QUIMICA LTDA

 

11 5054-6999

BUSCHLE & LEPPER S/A

 

41 3275-7577

DEGUSSA HULS LTDA

 

11 3146-4143

DELQUÍMICA COMERCIAL LTDA

 

11 6412-1040

DENVER-COTIA INDÚSTRIA E COMÉRCIO LTDA

 

11 3048-8736

ESKISA S/A

 

11 5536-0533

ISP DO BRASIL LTDA

 

11 3034-4866

M. CASSAB COMÉRCIO E INDÚSTRIA LTDA

 

11 5522-7788

QUIMIMAX QUÍMICA COMÉRCIO INDÚSTRIA LTDA

 

19 3227-5971

REIZA KERN INDÚSTRIA E COMÉRCIO LTDA

 

19 3225-5034

RP SCHERER DO BRASIL LTDA

 

15 3235-3500

 

FOREIGN SUPPLIERS:

COUNTRY:

 

DR. RODDY S

INDIA

 

FERRO

GERMANY

 

PROCOS

ITALY

 

 

PAYMENT HISTORY:

 

2 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 946,00

 

AMOUNT OF INVOICES PAID: 4

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 296,00

HIGHEST CREDIT: R$ 296,00

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS. UP TO DATE IT HAS 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.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.41

UK Pound

1

Rs.99.53

Euro

1

Rs.84.82

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.