MIRA INFORM REPORT

 

 

Report Date :

17.09.2013

 

IDENTIFICATION DETAILS

 

Name :

IBEROQUIMICA FARMACÊUTICA LTDA

 

 

Registered Office :

Rua João Antonio Mecatti,1601 Galpao 04 E 05 - Casa Branca, 13211-223 - Jundiaí/Sp

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

26.05.2009

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Wholesale of Drugs For Human Use.

 

 

No. of Employees :

45

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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

 

IBEROQUIMICA FARMACÊUTICA LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

RUA JOÃO ANTONIO MECATTI,1601 GALPAO 04 E 05 - CASA BRANCA

ZIP CODE/CITY:

13211-223 - JUNDIAÍ/SP

 

 

PHONE:

11 3379-6900

FAX:

11 3379-6900

E-MAIL:

eliane.santana@quimtia.com

WEB SITE:

www.iberoquimica.com.br

 

 

BRANCHES

 

NOT AVAILABLE.

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

WHOLESALE OF DRUGS FOR HUMAN USE.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

26/05/2009

REGISTER DATE:

26/05/2009

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

11.136.050/0001-17

STATE REGISTER:

407.490.841.113

 

 

SHARE CAPITAL:

R$ 2.104.274,00

LAST REGISTER OF CAPITAL:

07/01/2013

 

BOARD OF DIRECTORS:

 

 

 

ANDREIA ISBELA GODOI VIANA MORELLI

MANAGER

RUDY ARTUR SCHNEPPER

MANAGER

CARLOS ALBERTO DE SOUZA

MANAGER

ELIS DANIELE SENEM

MANAGER

 

AUTHORIZED USE OF SIGNATURE

 

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

 

 

SHAREHOLDERS / PARTNERS:

 

 

 

MIRAQUIMICA PARTICIPACOES LTDA

R$ 2.104.274,00

 

AFFILIATES / SUBSIDIARIES:

 

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

 

 

 LABORATORIO REGIUS LIMITADA - EPP

 

 QUIMTIA S.A

 

 FOSFOREIRA BRASILEIRA S/A

 

 JARRELL FARMACEUTICA LTDA - EPP

 

 C A S IMPORTACAO E EXPORTACAO LTDA

 

 MIRAQUIMICA PARTICIPACOES LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON MAY 26, 2009 AS IBEROQUIMICA DO BRASIL LTDA. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON JANUARY 23, 2012 IT ALTERED QUIMTIA INDUSTRIA E COMERCIO DE PRODUTOS QUIMICOS LTDA. JANUARY 07, 2013 IT ADOPTED THE ABOVE MENTIONED NAME AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

TRADE NAME: "IBEROQUIMICA DO BRASIL"

 

PARTNER:

 

MIRAQUIMICA PARTICIPACOES LTDA: HEADQUARTERED AT RUA DOUTOR JOSE

FERREIRA DE CAMARGO, 507, SALA 06, NOVA CAMPINAS, CAMPINAS - SP, REGISTRATION # NIRE 35227020471

 

MANAGERS:

 

CARLOS ALBERTO DE SOUZAI: BRAZILIAN, HOLDER OF DOCUMENTS CPF 089.452.768-15, RG/RNE: 46215918 - SP,, RESIDENTIAL ADDRESS AT RUA CIDADE DE BAGDA, 942, VILA SANTA CATARINA, SAO PAULO - SP;

 

ANDREIA ISABELA GODOI VIANA MORELLI: BRAZILIAN, HOLDER OF DOCUMENTS CPF 151.647.408-26 AND RG 23.397.849-5, RESIDENTIAL ADDRESS AT RODOVIA ROMILDO PRADO, 10, 200, ATIBAIA/SP;

 

RUDY ARTUR SCHNEPPER: BRAZILIAN, HOLDER OF DOCUMENTS CPF 024.085.649-05 AND RG 76.251.991, RESIDENTIAL ADDRESS AT RUA MARECHAL TROMPOLWSKI, 256, APTO 73, CURITIBA/PR;

 

ELIS DANIELE SENEM: BRAZILIAN, HOLDER OF DOCUMENTS CPF 283.107.338-36 AND RG 6.275.131-2-PR, RESIDENTIAL ADDRESS AT RUA BENJAMIN CONSTANT, 608, CENTRO, ZIP CODE 80060-020, CURITIBA/PR.

 

REMARKS:

 

ON JANUARY 07, 2013 SUBJECT UNDER WENT A SPIN-OFF WITH THE TRANSFER OF PART OF ITS ACTIVITIES TO NUVITAL NUTRIENTES LTDA (CURRENTLY QUIMTIA S.A.). AS A RESULT THE COMPANY'S SHARE CAPITAL WAS REDUCED FROM R$ 20.160.775,00 TO R$ 17.507.821,00.

 

FURTHER, THE COMPANY IS UNDERGOING CHANGE IN ITS SHAREHOLDING CONTROL AND SOON THE CURRENT PARTNERS WILL BE REPLACED AS THE COMPANY HAS BEEN SOLD TO OTHER GROUP. THE COMPANY STATED THAT THERE IS AN AMENDMENT TO THE ARTICLES OF INCORPORATION IN COURSE AT THE REGISTER OF COMPANIES. THEY DECLINED TO DISCLOSE ANY FURTHER INFORMATION.

 

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 31/12/2011, 31/12/2010 AND 31/12/2009.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2011

31/12/2010

31/12/2009

 

 

 

 

CASH AND BANKS

1.851.510,00

585.933,00

1.524,00

CLIENTS

3.306.171,00

1.549.179,00

 

INVENTORY

5.302.479,00

6.603.169,00

 

RECOVERABLE TAXES

512.466,00

635.510,00

 

PRE PAID EXPENSES

32.260,00

76.407,00

1.242,00

OTHER CREDITS

168.445,00

63.169,00

90.529,00

 

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

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

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

TOTAL CURRENT ASSETS

11.173.331,00

9.513.367,00

93.295,00

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

1.653.146,00

1.723.910,00

699.623,00

INTANGIBLE

77.197,00

79.259,00

 

INVESTMENTS

15.918.251,00

 

 

 

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

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

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

TOTAL FIXED ASSETS

17.648.594,00

1.803.169,00

699.623,00

 

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

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

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

TOTAL ASSETS

28.821.925,00

11.316.536,00

792.918,00

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2011

31/12/2010

31/12/2009

 

 

 

 

SUPPLIERS

2.889.504,00

5.696.283,00

41.836,00

TAXES & CONTRIBUTIONS

110.087,00

89.324,00

7.900,00

ACCOUNTS PAYABLE

23.740,00

45.608,00

236.686,00

PROVISIONS

333.316,00

165.829,00

 

LOANS AND FINANCING

6.229.657,00

4.311.739,00

 

 

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

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

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

TOTAL CURRENT LIABILITIES

9.586.304,00

10.308.783,00

286.422,00

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

DEBT WITH RELATED COMPANIES

1.264.685,00

1.200.496,00

435.250,00

 

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

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

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

TOTAL LONG TERM LIABILITIES

1.264.685,00

1.200.496,00

435.250,00

 

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

20.160.775,00

180.775,00

87.050,00

ACCRUED PROFIT (LOSS)

-2.189.838,00

-373.518,00

 

PROFIT (LOSS) OF PERIOD

 

 

-15.804,00

 

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

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

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

TOTAL NET EQUITY

17.970.937,00

-192.743,00

71.246,00

 

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

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

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

TOTAL LIABILITIES

28.821.926,00

11.316.536,00

792.918,00

 

PROFIT AND LOSS ACCOUNTS AS OF 31/12/2011, 31/12/2010 AND 31/12/2009.

( FIGURES ARE IN REAIS ).

 

 

31/12/2011

31/12/2010

31/12/2009

 

 

 

 

GROSS SALES

24.512.243,00

12.976.166,00

 

(-) TAXES ON SALES

5.316.147,00

2.835.873,00

 

 

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

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

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

NET SALES

19.196.096,00

10.140.293,00

 

(-) COST OF SOLD GOODS

16.022.888,00

7.732.213,00

 

 

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

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

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

GROSS PROFIT

3.173.208,00

2.408.080,00

 

OPERATING REVENUE (EXPENSE)

-3.829.063,00

-2.958.305,00

-15.804,00

FINANCIAL REVENUE(EXPENSE)

-1.160.465,00

72.828,00

 

 

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

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

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

OPERATIONAL PROFIT (LOSS)

-1.816.320,00

-477.397,00

-15.804,00

CONTRIBUTION/INCOME TAX

 

119.683,00

 

 

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

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

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

NET PROFIT (LOSS)

-1.816.320,00

-357.714,00

-15.804,00

 

MONTHLY SALES

 

  2011

 

 

 

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

 

 

JANUARY

R$ 2.105.606,00

 

 

FEBRUARY

R$ 2.085.275,00

 

 

MARCH

R$ 1.121.479,00

 

 

APRIL

R$ 2.028.320,00

 

 

MAY

R$ 1.844.995,00

 

 

JUNE

R$ 2.011.396,00

 

 

JULY

R$ 1.585.489,00

 

 

AUGUST

 

 

 

SEPTEMBER

 

 

 

OCTOBER

 

 

 

NOVEMBER

 

 

 

DECEMBER

 

 

 

TOTAL

R$ 12.782.560,00

 

 

 

 

RATIOS:

31/12/2011

31/12/2010

31/12/2009

 

QUICK RATIO

,61

 

,28

 

,33

 

CURRENT RATIO

1,17

 

,92

 

,33

 

ACCOUNTS RECEIVABLE TURNOVER

5,81

TIMES

6,55

TIMES

 

 

DAYS' SALES IN RECEIVABLES

62,00

DAYS

55,00

DAYS

 

 

INVENTORY TURNOVER

3,02

TIMES

1,17

TIMES

 

 

ACCOUNTS PAYABLE PERIOD

64,92

DAYS

265,21

DAYS

 

 

RETURN ON ASSETS

,67

TIMES

,90

TIMES

 

 

SALES TURNOVER ON NET EQUITY

1,07

TIMES

-52,61

TIMES

 

 

NET WORTH TIE-UP

,09

 

-8,94

 

9,82

 

INDEBTEDNESS

,60

 

-59,71

 

10,13

 

EQUITY RATIO

62,35

%

-1,70

%

8,99

%

WORKING CAPITAL RATIO

16,56

%

-7,72

%

-67,43

%

GENERAL SOLVENCY

2,66

 

,98

 

1,10

 

RETURN ON NET EQUITY

-10,11

%

185,59

%

-22,18

%

RETURN ON SALES (PROFIT MARGIN)

-9,46

%

-3,53

%

 

 

GROSS PROFIT MARGIN

16,53

%

23,75

%

 

 

OPERATIONAL RESULT

-9,46

%

-4,71

%

 

 

SALES TURNOVER ON LIABILITIES

2,00

TIMES

,98

TIMES

 

 

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,28

 - OFFICIAL RATE ON 09/09/2013

US$ 1,00 = R$ 1,87

 - OFFICIAL RATE ON 31/12/2011

US$ 1,00 = R$ 1,66

 - OFFICIAL RATE ON 31/12/2010

US$ 1,00 = R$ 1,74

 - OFFICIAL RATE ON 31/12/2009

 

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS.

 

THE LATEST FIGURES FOR 2011 A SATISFACTORY FINANCIAL STANDING. IT SHOWS GOOD CURRENT RATIO AND POSITIVE WORKING CAPITAL, AS WELL AS ACCEPTABLE LEVEL OF INDEBTEDNESS. IT ALSO SHOWED GROWING SALES BUT THE HIGH OPERATING EXPENSES DROVE THE COMPANY TO MAKE LOSS.

 

 

REAL ESTATE:

 

 NOT AVAILABLE

 

 

VEHICLES:

 

NOT AVAILABLE

 

 

MACHINES:

 

 NOT AVAILABLE

 

 

INSURANCE

 

NOT AVAIALBLE

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO ITAÚ S/A

7649  /  41 3003-8813

 

BANCO SATANDER (BRASIL) S/A

2189  /  41 3883-3135

 

 

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 DRUGS FOR HUMAN USE.

 

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

 

MALAYSIA, CHINA, COLOMBIA, DENMARK, ARGENTINA AND URUGUAY.

 

 

EXPORTS TO:

 

DOES NOT EXPORT.

 

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

NOT AVAILABLE

 

 

 

 

STAFF:

 

THE COMPANY HAS: 45 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A NEWLY-ESTABLISHED COMPANY, SETUP IN 2009 AND OPERATING SINCE 2010. SO FAR IT HAS A CLEAR TRADE HISTORY AND NO PAYMENT PROBLEM IS NOTED.

 

LITTLE OR NOTHING IS LOCALLY KNOWN OF SUBJECT AS A USER OF CREDIT FACILITIES AS SUBJECT IS UNDERGOING RESTRUCTURING.

 

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

 

NOT AVAILABLE

 

 

 

 

FOREIGN SUPPLIERS:

 

PHONE:

AARHUSKARLSHAMN LATIN AMERICA

 

+5982 3-135-135

COLORQUIMICA S/A

 

(574) 3021717  EXT 1

INMOBAL NUTRER S/A

 

(5411) 4370-0188

 

 

PAYMENT HISTORY:

 

NO PAYMENT RECORD IS REGISTERED.

 

 

 

 

FINAL OPINION

 

BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES HOWEVER SHOULD BE GRANTED ON FULLY SECURED TERMS ONLY DUE TO THE FACT THAT THE COMPANY IS UNDERGOING RESTRUCTURING.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.48

UK Pound

1

Rs.99.66

Euro

1

Rs.83.49

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.