MIRA INFORM REPORT

 

 

Report Date :

31.12.2014

 

IDENTIFICATION DETAILS

 

Name :

ACHÉ LABORATÓRIOS FARMACÊUTICOS S/A

 

 

Registered Office :

Rodovia Presidente Dutra, S/N°. KM 222,2 - Porto Da Igreja, 07034-904 - Guarulhos/Sp

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

21.03.1961

 

 

Legal Form :

Privately Held Corporation

 

 

Line of Business :

Manufacture of Pharmaceuticals.

 

 

No. of Employees :

2784 Employees

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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, and a rapidly expanding middle class, 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 in 2011-13. 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.

 

Source : CIA

 

 

 

 


Company Name

 

ACHÉ LABORATÓRIOS FARMACÊUTICOS S/A

 

 

ADDRESSES

 

MAIN ADDRESS:

RODOVIA PRESIDENTE DUTRA, S/N°. KM 222,2 - PORTO DA IGREJA

ZIP CODE/CITY:

07034-904 - GUARULHOS/SP

 

 

PHONE:

11 2608-6467

FAX:

11 2608-6467

E-MAIL:

maparecida.santos@ache.com.br

WEB SITE:

www.ache.com.br

 

BRANCHES:

 

 

 

ADDRESS:

RUA MACHADO BITTENCOURT,190 - VILA CLEMENTINO

ZIP CODE/CITY:

04044-000 SÃO PAULO/SP

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF PHARMACEUTICALS.

 

LEGAL FORM:

PRIVATELY HELD CORPORATION

 

 

INCORPORATION DATE:

21/03/1961

REGISTER DATE:

21/03/1961

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

60.659.463/0001-91

STATE REGISTER:

336.059.160.110

 

 

SHARE CAPITAL:

R$ 440.959.484,00

LAST REGISTER OF CAPITAL:

31/12/2012

 

BOARD OF DIRECTORS:

 

 

 

CELSO PEREIRA SUSTOVICH

DIRECTOR

WILSON ROBERTO DE FARIAS

DIRECTOR

VANIA DE AZEVEDO NOGUEIRA DE ALCANTARA MACHADO

DIRECTOR

MANOEL ARRUDA NASCIMENTO

OPERATIONS DIRECTOR

SIDINEI RIGHINI

DIRECTOR

LUCIANA GUALDA DOS SANTOS SASSO

DIRECTOR

 

AUTHORIZED USE OF SIGNATURE

 

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

 

 

SHAREHOLDERS / PARTNERS:

 

 

 

VINCITORE FUNDO INVEST EM PARTICIPAÇÕES

33,33%

LAJOTA FUNDO INVEST EM PARTICIPAÇÕES

33,33%

INFINITY FUNDO INVEST EM PARTICIPAÇÕES

33,33%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

BIOSINTÉTICA FARMACÊUTICA LTDA

99,99%

INDUSTRIA FARMACEUTICA MELCON DO BRASIL S/A

50,00%

 

 

COMPANY'S BACKGROUND

 

ACHÉ'S HISTORY DATES BACK TO 1961, ORIGINALLY NAMED PRODOCTOR PRODUTOS FARMACÊUTICOS, IN SÃO PAULO, WITH THE UNION OF EX-ADVERTISERS ADALMIRO DELLAPE BAPTISTA, ANTONIO GILBERTO DEPIERE AND VICTOR SIAULYS (CURRENT PRESIDENT OF THE ADMINISTRATIVE COUNCIL). IN THE FOLLOWING YEAR, THEY ACHIER ACHÉ, CREATED IN THE 30'S BY THE FRENCH PHILLIPPE ACHÉ, IN RIBEIRÃO PRETO, INTERIOR OF SÃO PAULO.

 

TWELVE YEARS LATER, THE COMPANY ACQUIRED BRACCO-NOVOTERÁPICA, FROM ITALY, AND, IN 1982, OBTAINED THE RIGHT TO PRODUCE AND TRADE THE MEDICINES OF PARKE-DAVIS, AMERICAN MULTINATIONAL, BELONGED TO WARNER-LAMBERT GROUP. IN 1988, ACHÉ CREATED PRODOME IN JOINT-VENTURE WITH MERCK SHARP & DOHME, DEEMED THE LARGEST PHARMACEUTICAL LABORATORY WORLDWIDE, AT THAT TIME.

 

RECENTLY, THE COMPANY ACQUIRED 42% OF THE CAPITAL OF THE AMERICAN MULTINATIONAL SCHERING-PLOUGH, HEADQUARTERED IN RIO DE JANEIRO. NOWADAYS ACHE IS CONSOLIDATED AS THE LARGEST LABORATORY WITH 100% OF DOMESTIC CAPITAL IN BRAZIL. THE SUBJECT OWNS 2.952 EMPLOYEES, OF WHICH 1.687 ARE ADVERTISERS, SHOWING THE NOVELTIES TO OVER 145.000 DOCTORS NATIONWIDE. THE WORKFORCE OF THE ACHÉ'S ADVERTISERS IS DISTRIBUTED AMONG ITS HEADQUARTERS AND ITS 17 BRANCHES THROUGHOUT BRAZIL.

 

ACHE SHOWS THE WORKFORCE OF A COMPANY WHICH SHOWED IN 2000, A NET REVENUE OF R$ 454 MILLION AND GROSS PROFIT OF R$ 307 MILLION. THE GOAL FOR THE NEXT YEARS IS EVEN MORE CHALLENGING, AS THE COMPANY IS INCREASING ITS PRODUCTION ARE THAT CURRENTLY COMPRISE OF 51.436 SQ MTS.

 

AS PER THE "PROJETO PARMA", THE NEW PLANT (WHICH INVESTMENTS REACHED US$ 145 MILLION), TO BE INAUGURATED IN 2005 SHALL PRODUCE, ANNUALLY, OVER 200 MILLION OF MEDICINES. THE INDUSTRIAL FACILITIES WILL COUNT ON WITH ALL REQUIRED INFRASTRUCTURE SUCH AS TECHNOLOGY AND TRAINING TO OPERATE ACCORDINGLY AS A WORLDWIDE COMPANY.

 

IN 1983, ACHÉ ACQUIRED DIVISÃO BRASILEIRA DA MULTINACIONAL PARKE DAVIS.

 

IN THE SAME YEAR ACHÉ JOINED TO MERCK SHARP & DOHME IN A JOINT VENTURE RESULTING BINACIONAL PRODOME.

 

TRHEE YEARS LATER, IN 1990, O ACHÉ ACQUIRED 42% THE CONTROL OF MULTINACIONAL SCHERING-PLOUGH.

 

IN 2001, ACHÉ ACHIEVED THE CERTIFICATES: ISO 14001, REFERING TO ENVIRONMENTAL MANAGEMENT AND OHSAS 18001, WORK SECURITY.

 

ON AUGUST 30, 2003 THE COMPANY ASTA MÉDICA LTDA, WAS TAKEN OVER BY ACHÉ LABORATÓRIOS FARMACÊUTICOS S/A.

 

IN 2005 ACHE ACQUIRED BIOSINTÉTICA FARMACÊUTICA AND STARTED WORKING WITH MORE THAN 250 THERAPEUTICAL OPTIONS.

 

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

 

 

PUBLIC INFORMATION

 

PROTESTS:

 

13  PROTESTS,TOTAL AMOUNT R$ 53.865,74

    DATE OF FIRST PROTEST: 03/2014  R$ 882,16

    DATE OF HIGHEST PROTEST: 12/2014  R$ 39.679,53

 

DETAILS OF LATEST PROTESTS:

 

NOTARY OFFICE:

DATE:

VALUE:

1º CARTÓRIO DE GUARULHOS/SP

25/09/2014

R$ 571,33

2º CARTORIO DE GUARULHOS/SP

23/12/2014

R$ 1.202,39

1º CARTÓRIO DE GUARULHOS/SP

23/12/2014

R$ 327,71

2º CARTÓRIO DE GUARULHOS/SP

10/12/2014

R$ 39.679,53

2º CARTÓRIO DE GUARULHOS/SP

11/08/2014

R$ 1.049,80

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

EXECUTIVE LAWSUIT

07/03/14

7ª VARA DE GUARULHOS/SP

1

STATE LAWSUIT

24/10/11

2ª VARA DE GUARULHOS/SP

1

MONITORY SUIT

07/03/14

7ª VARA DE GUARULHOS/SP

1

FEDERAL LAWSUIT

06/08/13

3ª VARA DE GUARULHOS/SP

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/12/2013, 31/12/2012 AND 31/12/2011.

(FIGURES ARE IN THOUSANDS OF REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2013

31/12/2012

31/12/2011

 

 

 

 

CASH AND BANKS

262.794

124.791

133.319

CLIENTS

211.760

168.103

145.770

INVENTORY

137.693

118.587

112.057

PRE PAID EXPENSES

25.381

14.668

15.781

OTHER CREDITS

15.342

6.709

11.740

DIVIDENDS RECEIVABLES

 

 

128.922

RECOVERABLE TAXES

1.601

2.045

11.294

 

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

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

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

TOTAL CURRENT ASSETS

654.571

434.903

558.883

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

JUDICIAL DEPOSITS

60.105

49.791

13.655

DEFERRED TAXES

 

 

69.224

RECOVERABLE TAXES

2.365

1.215

1.614

OTHER CREDITS

3.688

1.914

1.432

 

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

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

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

TOTAL LONG-TERM RECEIVABLES

66.158

52.920

85.925

 

FIXED ASSETS:

 

 

 

 

 

 

 

INVESTMENTS

471.452

606.467

590.310

FIXED ASSETS

528.372

505.183

497.853

INTANGIBLE

26.712

27.746

28.919

 

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

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

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

TOTAL FIXED ASSETS

1.026.536

1.139.396

1.117.082

 

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

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

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

TOTAL ASSETS

1.747.265

1.627.219

1.761.890

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2013

31/12/2012

31/12/2011

 

 

 

 

SUPPLIERS

29.971

33.019

25.504

LOANS AND FINANCING

28.750

67.532

71.262

SOCIAL / LABOR OBLIGATIONS

42.773

40.099

36.381

TRIBUTARY OBLIGATIONS

87.552

61.084

20.529

DIVIDENDS

 

 

150.000

ACCOUNTS PAYABLE

5.477

5.542

5.835

OTHER PROVISIONS

9.194

7.666

4.182

 

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

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

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

TOTAL CURRENT LIABILITIES

203.717

214.942

313.693

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

LOANS AND FINANCING

127.824

118.849

135.225

PROVISION FOR CONTINGENCIES

110.260

98.316

71.187

TRIBUTARY OBLIGATIONS

27.284

29.516

70.895

OTHER

18.153

30.531

15.943

 

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

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

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

TOTAL LONG TERM LIABILITIES

283.521

277.212

293.250

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

440.959

440.959

407.310

CAPITAL RESERVES

174.212

174.212

174.212

REVALUATION RESERVES

5.527

5.856

6.061

PROFIT RESERVES

501.526

371.545

389.954

OTHER COMPREHENSIVE INCOME

137.803

142.493

177.410

 

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

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

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

TOTAL NET EQUITY

1.260.027

1.135.065

1.154.947

 

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

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

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

TOTAL LIABILITIES

1.747.265

1.627.219

1.761.890

 

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

( FIGURES ARE IN THOUSANDS OF REAIS ).

 

 

31/12/2013

31/12/2012

31/12/2011

 

 

 

 

NET SALES

1.337.391

1.131.130

989.365

(-) COST OF SOLD GOODS

294.685

234.429

203.086

 

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

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

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

GROSS PROFIT

1.042.706

896.701

786.279

OPERATING REVENUE (EXPENSE)

-524.111

-380.622

-350.742

FINANCIAL REVENUE(EXPENSE)

-239

2.383

9.254

 

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

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

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

OPERATIONAL PROFIT (LOSS)

518.356

518.462

444.791

CONTRIBUTION/INCOME TAX

-114.542

-95.791

-64.118

 

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

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

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

NET PROFIT (LOSS)

403.814

422.671

380.673

 

RATIOS:

31/12/2013

31/12/2012

31/12/2011

 

QUICK RATIO

2,54

 

1,47

 

1,42

 

CURRENT RATIO

3,21

 

2,02

 

1,78

 

ACCOUNTS RECEIVABLE TURNOVER

6,32

TIMES

6,73

TIMES

6,79

TIMES

DAYS' SALES IN RECEIVABLES

57,00

DAYS

53,50

DAYS

53,04

DAYS

INVENTORY TURNOVER

2,14

TIMES

1,98

TIMES

1,81

TIMES

ACCOUNTS PAYABLE PERIOD

36,61

DAYS

50,71

DAYS

45,21

DAYS

RETURN ON ASSETS

,77

TIMES

,70

TIMES

,56

TIMES

SALES TURNOVER ON NET EQUITY

1,06

TIMES

1,00

TIMES

,86

TIMES

NET WORTH TIE-UP

,42

 

,45

 

,43

 

INDEBTEDNESS

,39

 

,43

 

,53

 

EQUITY RATIO

72,11

%

69,75

%

65,55

%

WORKING CAPITAL RATIO

221,31

%

102,34

%

78,16

%

GENERAL SOLVENCY

3,59

 

3,31

 

2,90

 

RETURN ON NET EQUITY

32,05

%

37,24

%

32,96

%

RETURN ON SALES (PROFIT MARGIN)

30,19

%

37,37

%

38,48

%

GROSS PROFIT MARGIN

77,97

%

79,27

%

79,47

%

OPERATIONAL RESULT

38,76

%

45,84

%

44,96

%

SALES TURNOVER ON LIABILITIES

6,56

TIMES

5,26

TIMES

3,15

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,68

 - OFFICIAL RATE ON 26/12/2014

US$ 1,00 = R$ 2,34

 - OFFICIAL RATE ON 31/12/2013

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 GOOD FINANCIAL STANDING. IT SHOWS GOOD LIQUIDITY RATIOS AND POSITIVE WORKING CAPITAL, AS WELL AS LOW LEVEL OF INDEBTEDNESS. IT ALSO SHOWS GROWING SALES AND PROFITABILITY.

 

IT IS WORTH COMMENTING THAT THE COMPANY HAS HIGH FINANCIAL POWER AND OPERATES NORMALLY, MANAGING WITH EFFICIENCY ITS CAPITAL NEEDS, NOT SHOWING SIGNS OF FINANCIAL PROBLEMS SO FAR.

 

REAL ESTATE:

OWNED PREMISES ARE VALUED AT R$ 402.682.000,00

 

VEHICLES:

OWNED VEHICLES ARE VALUED AT R$ 139.000,00

 

MACHINES:

 

OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 52.027.000,00

 

 

INSURANCE

 

INSURANCE COMPANY:

ITAÚ SEGUROS S/A 90% AND BRADESCO 10%

COVERAGE:

RISCOS NOMEADOS

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO ITAÚ S/A

11 3708-2537

SÃO PAULO/SP

BANCO BRADESCO S/A

11 2178-4682

SÃO PAULO/SP

BANCO DO BRASIL S/A

11 2128-7184

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 MANUFACTURE OF MEDICINES FOR HUMAN USE.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

URUGUAY, SWITZERLAND, HUNGARY, SLOVENIA, CHINA

 

EXPORTS TO:

DOES NOT HAVE.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

PHONE:

D CENTER DISTRIBUIDORA LTDA

 

16 3603-0111

DIMED S/A DISTRIB. DE MEDICAMENTOS

 

51 3218-9500

DISTRIBUIDORA DE MEDICAMENTOS ANB FARMA LTDA

 

41 3072-8000

DISTRIBUIDORA DE MEDICAMENTOS SANTA CRUZ LTDA

 

11 3040-7500

DISTRIBUIDORA FARMACÊUTICA PANARELLO LTDA

 

62 4013-2000

DROGARIA SÃO PAULO S/A

 

11 3274-7416

NAZARIA DISTRIB. PRODS FARMACÊUTICOS LTDA

 

86 3216-4600

PROFARMA DIST. PROD. FARMÊUTICOS LTDA

 

21 4009-0200

SERVIMED COMERCIAL LTDA

 

14 2106-7205

 

STAFF:

 

THE COMPANY HAS: 2784 EMPLOYEE(S)

 

 


CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1961. IT IS A LEADING COMPANY IN ITS LINE OF BUSINESS, OPERATES WITH A CLEAR TRADE HISTORY AND A GOOD REPUTATION.

 

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.

 

THE PROTESTS ARE IRRELEVANT.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

 

A.W. FABER CASTELL S/A

 

 

AGILENT TECHNOLOGIES BRASIL LTDA

 

11 4197-3500

ALCAN EMBALAGENS DO BRASIL LTDA

 

11 4512-7000

ALD AUTOMOTIVE

 

11 3147-4826

BPG EMBALAGENS LTDA

 

11 4048-1255

COLORCON DO BRASIL LTDA

 

11 4617-8640

DSM PRODS NUTRICIONAIS BR. LTDA

 

11 3760-6493

IQ SOLUÇÕES & QUIMICA S/A

 

11 2195-9157

MAGISTRAL IMPRESSORA INDUSTRIAL LTDA

 

41 2141-0408

ROSELI DA SILVA PASCHOALATTO COM RELOGIOS - EPP

 

 

SAG DO BRASIL S/A

 

11 3147-5780

SIKA S/A

 

 

SOBRAL INVICTA S/A

 

 

 

FOREIGN SUPPLIERS:

COUNTRY:

 

BASELUX

SWITZERLAND

 

CAPE INTERNATIONAL LLC

URUGUAI

 

CHEMICAL WORKS GEDEON RICHTER

HUNGARY

 

CIA COMERCIALIZADORA INTERNACIONAL S/A

URUGUAY

 

DEBIO RECHERCHECE PHARMA S/A

SWITZERLAND

 

FISCHER CHEMICALS

CHINA

 

LEK PHARMA AND CHEM COMP

SLOVENIA

 

SPAR CHEMICAL ESTABLISSEMENT

SWITZERLAND

 

 

PAYMENT HISTORY:

 

17 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 1.051.058,00

 

AMOUNT OF INVOICES PAID: 67

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 83.808,00

HIGHEST CREDIT: R$ 83.808,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 30 DAYS:

 

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

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

1

1

R$ 4.326,30

 

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS.  UP TO DATE IT HAS A GOOD FINANCIAL STANDING, A CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOUR.

 

BASED ON THE OVERALL 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 SIZE AND FINANCIAL STRENGTH.

 

HIGHER AMOUNTS CAN BE GRANTED DEPENDING ON THE IMPORTANCE OF THE BUSINESS TO BE ESTABLISHED WITH THE SUBJECT.

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.63.75

UK Pound

1

Rs.98.88

Euro

1

Rs.77.32

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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.