MIRA INFORM REPORT

 

 

Report Date :

26.10.2013

 

IDENTIFICATION DETAILS

 

Name :

BELENUS DO BRASIL LTDA.

 

 

Registered Office :

Rua Comendador João Lucas,300 - Industrial De Vinhedo 13280-000 - Vinhedo/Sp

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

15.07.2002

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale of Hardware and Tools.

 

 

No. of Employees :

865

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Exist

 

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

 

BELENUS DO BRASIL LTDA.

 

 

ADDRESSES

 

MAIN ADDRESS:

RUA COMENDADOR JOÃO LUCAS,300 - INDUSTRIAL DE VINHEDO

ZIP CODE/CITY:

13280-000 - VINHEDO/SP

 

 

PHONE:

19 3826-7000

FAX:

19 3517-7201

E-MAIL:

cesar.silva@belenus.com.br

WEB SITE:

www.belenus.com.br

 

BRANCHES:

 

 

 

ADDRESS:

RUA IRACEMA LUCAS,1555 - DISTRITO INDUSTRIAL

ZIP CODE/CITY:

13280-000 VINHEDO/SP

CNPJ:

05.151.518/0004-92

 

 

ADDRESS:

RODOVIA DARLY SANTOS,4000 GALPÃO 01 - ARAÇÁS

ZIP CODE/CITY:

29103-091 VILA VELHA/ES

CNPJ:

05.151.518/0006-54

 

 

ADDRESS:

RUA VICO COSTA,299 LOTEAMENTO DISTRITO INDUSTRIAL - CIDADE NOVA

ZIP CODE/CITY:

95112-095 CAXIAS DO SUL/RS

CNPJ:

05.151.518/0007-35

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

WHOLESALE OF HARDWARE AND TOOLS.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

15/07/2002

REGISTER DATE:

15/07/2002

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

05.151.518/0001-40

STATE REGISTER:

714.089.264.110

 

 

SHARE CAPITAL:

R$ 101.800.000,00

LAST REGISTER OF CAPITAL:

24/04/2012

 

BOARD OF DIRECTORS:

 

 

 

JOÃO MARCOS LUCAS

MANAGING PARTNER

 

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGING PARTNER IS AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

JOÃO MARCOS LUCAS

99,99%

EZIO RUOCCO JUNIOR

0,01%

 

AFFILIATES / SUBSIDIARIES

 

 

 

A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS THE FOLLOWING UNCONFIRMED HOLDINGS:

 

 

SIRENUSE REPRESENTACOES DE FIXADORES LTDA - EPP.

 

VARGAS & RUOCCO EMPREENDIMENTOS IMOBILIARIOS LTDA

 

ENAT INDUSTRIA E COMERCIO DE PARAFUSOS LTDA

 

SAMONTANO IND E COM. DE PARAFUSOS LTDA

 

METALINOX INDUSTRIA E COMERCIO LTDA

 

TODO AROMA REFEICOES INDUSTRIAIS LTDA ME

 

METALAC EXPORTACOES E PARTICIPACOES LTDA

 

FASTNER DO BRASIL PARTICIPACOES LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON JULY 15, 2002 AS BELENUS DO BRASIL LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON JULY 28, 2008 IT WAS TRANSFORMED INTO STOCK COMPANY UNDER THE NAME BELENUS DO BRASIL S/A. ON JULY 20, 2009 IT WAS TRANSFORMED BACK INTO LIMITED LIABILITY COMPANY UNDER THE ABOVE-MENTIONED NAME.

 

THE SUBJECT IS CURRENTLY OWNED BY A SOLE PARTNER AND SHALL APPOINT A NEW PARTNER (S) TO RECOMPOSE THE PARTNERSHIP. IN THE MEANTIME THE SOLE PARTNER WILL BE UNLIMITEDLY LIABLE FOR THE COMPANY.

 

TRADE NAME "BELENUS".

 

ON DECEMBER 16, 2011 THE COMPANY TOOK OVER "BELENUS DISTRIBUIDORA LTDA" NIRE 3220145876.

 

ON APRIL 24, 2012 THE COMPANY TOOK OVER BELENUS RS INDUSTRIAL E IMPORTADORA LTDA., CNPJ 11.681.941/0001-54.

 

PARTNERS:

 

JOÃO MARCOS LUCAS: BRAZILIAN, WIDOW, LAWYER, HOLDER OF DOCUMENTS, RG 4.162.105 SSP/SP AND CPF 056.034.208-04, RESIDENTIAL ADDRESS AT ALAMEDA JACARÉ 123, VISTA ALEGRE - VINHEDO/SP;

 

EZIO RUOCCO JUNIOR: BRAZILIAN, MARRIED, HOLDER OF DOCUMENTS, RG 6.428.489-X SSP/SP AND CPF 037.172.388-41, RESIDENTIAL ADDRESS AT RUA TRAUMA 350, ALPHAVILLE - CAMPINAS/SP.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

PUBLIC INFORMATION:

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

MUNICIPAL LAWSUIT

01/08/13

VARA DE JUNDIAÍ/SP

1

STATE LAWSUIT

13/09/11

1ª VARA DE VINHEDO/SP

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/12/2012 AND 31/12/2011.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2012

31/12/2011

 

 

 

 

 

CASH AND BANKS

1.285.842,87

15.850.489,60

 

CLIENTS

44.749.541,00

45.512.342,84

 

INVENTORY

118.007.195,06

120.583.290,29

 

OTHER CREDITS

926.630,61

154.876,68

 

ADVANCE TO SUPPLIERS

14.138.669,88

3.234.863,75

 

IMPORTS IN PROGRESS

5.134.106,86

 

 

RECOVERABLE TAXES

5.318.434,06

5.026.370,68

 

PRE PAID EXPENSES

172.727,12

234.216,93

 

 

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

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

 

TOTAL CURRENT ASSETS

189.733.147,46

190.596.450,77

 

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

OTHER CREDITS

145.606,20

122.568,70

 

 

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

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

 

TOTAL LONG-TERM RECEIVABLES

145.606,20

122.568,70

 

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

36.780.024,62

36.246.380,14

 

INTANGIBLE

-90.302,94

 

 

 

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

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

 

TOTAL FIXED ASSETS

36.689.721,68

36.246.380,14

 

 

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

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

 

TOTAL ASSETS

226.568.475,34

226.965.399,61

 

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2012

31/12/2011

 

 

 

 

 

SUPPLIERS

13.756.246,88

49.079.519,01

 

TAXES & CONTRIBUTIONS

4.213.540,67

1.568.621,56

 

LOANS AND FINANCING

10.372.651,99

11.800.269,66

 

SOCIAL / LABOR OBLIGATIONS

3.362.891,68

3.005.107,98

 

OTHER DEBTS

1.151.759,22

1.800.806,39

 

 

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

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

 

TOTAL CURRENT LIABILITIES

32.857.090,44

67.254.324,60

 

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

LOANS AND FINANCING

51.958.450,38

14.541.753,78

 

DIVIDENDS PAYABLE

5.786.605,97

3.771.629,73

 

OTHER

697.223,45

 

 

 

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

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

 

TOTAL LONG TERM LIABILITIES

58.442.279,80

18.313.383,51

 

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

101.600.000,00

99.800.000,00

 

PROFIT RESERVES

22.603.191,13

30.531.777,53

 

RESOURCE/INCREASE CAPITAL

11.065.913,97

11.065.913,97

 

 

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

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

 

TOTAL NET EQUITY

135.269.105,10

141.397.691,50

 

 

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

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

 

TOTAL LIABILITIES

226.568.475,34

226.965.399,61

 

 

PROFIT AND LOSS ACCOUNTS AS OF 31/12/2012 AND 31/12/2011.

( FIGURES ARE IN REAIS ).

 

 

31/12/2012

31/12/2011

 

 

 

 

 

GROSS SALES

324.229.769,71

309.387.358,90

 

(-) TAXES ON SALES

88.355.942,50

85.728.442,79

 

 

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

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

 

NET SALES

235.873.827,21

223.658.916,11

 

(-) COST OF SOLD GOODS

183.564.147,76

162.536.309,40

 

 

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

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

 

GROSS PROFIT

52.309.679,45

61.122.606,71

 

OPERATING REVENUE (EXPENSE)

-53.505.194,44

-44.231.898,29

 

FINANCIAL REVENUE(EXPENSE)

-5.330.834,69

-10.736.435,84

 

 

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

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

 

OPERATIONAL PROFIT (LOSS)

-6.526.349,68

6.154.272,58

 

NON-OPERATING RESULT

-44.915,17

-72.984,29

 

CONTRIBUTION/INCOME TAX

-591.223,07

-2.342.248,89

 

 

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

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

 

NET PROFIT (LOSS)

-7.162.487,92

3.739.039,40

 

 

MONTHLY SALES

 

  2013

 

 

 

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

 

 

JANUARY

R$ 29.528.749,45

 

 

FEBRUARY

R$ 26.274.576,68

 

 

MARCH

R$ 32.798.045,17

 

 

APRIL

R$ 32.116.741,95

 

 

MAY

R$ 31.975.434,11

 

 

JUNE

R$ 30.947.691,43

 

 

JULY

R$ 33.194.726,12

 

 

AUGUST

R$ 35.204.880,49

 

 

SEPTEMBER

 

 

 

OCTOBER

 

 

 

NOVEMBER

 

 

 

DECEMBER

 

 

 

TOTAL

R$ 252.040.845,40

 

 

 

RATIOS:

31/12/2012

31/12/2011

 

 

QUICK RATIO

2,18

 

1,04

 

 

 

CURRENT RATIO

5,77

 

2,83

 

 

 

ACCOUNTS RECEIVABLE TURNOVER

5,27

TIMES

4,91

TIMES

 

 

DAYS' SALES IN RECEIVABLES

68,30

DAYS

73,26

DAYS

 

 

INVENTORY TURNOVER

1,56

TIMES

1,35

TIMES

 

 

ACCOUNTS PAYABLE PERIOD

26,98

DAYS

108,71

DAYS

 

 

RETURN ON ASSETS

1,04

TIMES

,99

TIMES

 

 

SALES TURNOVER ON NET EQUITY

1,74

TIMES

1,58

TIMES

 

 

NET WORTH TIE-UP

,27

 

,26

 

 

 

INDEBTEDNESS

,67

 

,61

 

 

 

EQUITY RATIO

59,70

%

62,30

%

 

 

WORKING CAPITAL RATIO

477,45

%

183,40

%

 

 

GENERAL SOLVENCY

2,48

 

2,65

 

 

 

RETURN ON NET EQUITY

-5,30

%

2,64

%

 

 

RETURN ON SALES (PROFIT MARGIN)

-3,04

%

1,67

%

 

 

GROSS PROFIT MARGIN

22,18

%

27,33

%

 

 

OPERATIONAL RESULT

-2,77

%

2,75

%

 

 

SALES TURNOVER ON LIABILITIES

7,18

TIMES

3,33

TIMES

 

 

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,17

 - OFFICIAL RATE ON 21/10/2013

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 FIGURES AVAILABLE SHOW A FAIR FINANCIAL STANDING. IT SHOWS HIGH LIQUIDITY RATIOS WITH POSITIVE WORKING CAPITAL AMOUNT AND LOW LEVEL OF INDEBTEDNESS. IN ADDITION IT IS NOTED GROWING SALES BUT ITS HIGH EXPENSES DROVE THE COMPANY TO MAKE NEGATIVE RESULTS.

 

REAL ESTATE:

 

   NOT AVAILABLE

 

VEHICLES:

 

NOT AVAILABLE

 

MACHINES:

 

NOT AVAILABLE

 

 

INSURANCE

 

NOT AVAILABLE.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO BRADESCO S/A

3389-8  /  19 3735-1259

 

BANCO ITAÚ S/A

0136  /  19 3707-5542

 

HSBC BANK BRASIL S/A

1810  /  11 4583-5616

 

BANCO DO BRASIL S/A

3081-3  /  11 4523-4410

 

 

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

 

WHOLESALE OF HARDWARE AND TOOLS.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

NOT AVAILABLE.

 

EXPORTS TO:

NOT AVAILABLE.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

FUSOPAR INDÚSTRIA E COMÉRCIO DE PARAFUSOS LTDA

 

 

FUSOPER COMÉRCIO E REPRESENTAÇÕES LTDA

 

 

INOX PAR. IND. E COMÉRCIO LTDA

 

 

MARTINS BASTOS & CIA LTDA

 

 

OLIBRINOX PARAFUSOS E FIXADORES LTDA

 

 

PAFER COM. E REPRESENTAÇÕES LTDA

 

 

 

STAFF:

 

THE COMPANY HAS: 865 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT WAS ESTABLISHED IN 2002. SO FAR IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOUR.

 

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. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUITS DO NOT AFFECT THE COMPANY’S TRADE REPUTATION.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

3M DO BRASIL LTDA

 

19 3272-1629

ALCAR ABRASIVOS LTDA

 

19 3876-7900

BELGO BEKAERT ARAMES S/A

 

31 3329-2351

DURATEX

 

11 3179-7733

FORCE LINE IND. COM. COMP. ELETRÔNICOS LTDA

 

 

GERDAU S/A

 

12 3935-3855

GL ELETRO ELETRÔNICOS LTDA

 

 

GRENDENE  S/A

 

 

HENKEL LTDA

 

11 3205-7000

INDUSTRIAL REX LTDA

 

47 3547-0122

INTERNEED INDL. COML. LTDA

 

 

LORENZETTI S/A

 

11 5644-2512

MATELAC SPS IND. E COMÉRCIO LTDA

 

 

METALURGICA INCA LTDA.

 

 

MICROMECÂNICA IND. COMERCIAL EXP. LTDA

 

47 3441-8800

RENNER SAYERLACK S/A

 

 

REX MÁQUINAS E EQUIPAMENTOS LTDA

 

47 3547-0122

SHANGRI-LA IND. COM. ESPANADORES LTDA

 

 

SOPRANO ELETROMETALÚRGICA LTDA

 

54 3268-3555

STAM METALURGICA S/A

 

 

STARRET IND E COMERCIO LTDA

 

 

TECNOPLÁSTICO BELFANO LTDA

 

 

TEXTRON FASTERNING SYSTEMAS DO BRASIL S/A

 

 

 

PAYMENT HISTORY:

 

21 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 5.470.517,00

 

AMOUNT OF INVOICES PAID: 361

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 287.478,00

HIGHEST CREDIT: R$ 287.478,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT +90 DAYS:

 

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

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

8

48

R$ 1.353.044,24

DUE WITHIN 60 DAYS

2

17

R$ 416.717,55

DUE WITHIN 90 DAYS

1

10

R$ 262.584,96

DUE WITHIN OVER 90 DAYS

1

4

R$ 693.553,65

ALL

8

79

R$ 2.725.900,40

 

 

FINAL OPINION

 

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.

 

AN INITIAL CREDIT LIMIT OF USD 1.000.000,00 MAY BE CONSIDERED.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.63

UK Pound

1

Rs.99.94

Euro

1

Rs.85.14

 

 

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.