MIRA INFORM REPORT

 

 

Report Date :

06.02.2014

 

IDENTIFICATION DETAILS

 

Name :

AMAGRAN - IMPORTACAO E EXPORTACAO LTDA

 

 

Registered Office :

Rua Inácio Higino,540 - Frente - Praia Da Costa  29101-092 - Vila Velha/Es

 

 

Country :

Brazil

 

 

Financials (as on) :

31.10.2013

 

 

Date of Incorporation :

04.05.2000

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject is engaged in Sale of granite plates and slabs

 

 

No. of Employees :

04

 

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, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

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

 

AMAGRAN - IMPORTAÇÃO E EXPORTAÇÃO LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

RUA INÁCIO HIGINO,540 - FRENTE - PRAIA DA COSTA

ZIP CODE/CITY:

29101-092 - VILA VELHA/ES

 

 

PHONE:

27 3317-0351

FAX:

27 3317-0351

E-MAIL:

waladao@amagrangranitos.com.br

WEB SITE:

www.amagrangranitos.com.br

 

BRANCHES:

 

 

 

ADDRESS:

FAZENDA FORNO S/N,,0 - ZONA RURAL

ZIP CODE/CITY:

45790-000 PORTIGUA/BA

 

 

ADDRESS:

RIO GELADO, VICINAL DO LAURO - KM,11 - ZONA RURAL

ZIP CODE/CITY:

68473-000 NOVO REPARTIMENTO/PA

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

SALE OF GRANITE PLATES AND SLABS.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

04/05/2000

REGISTER DATE:

04/05/2000

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

03.799.534/0001-18

STATE REGISTER:

082.053.82-0

 

 

SHARE CAPITAL:

R$ 1.000.000,00

 

BOARD OF DIRECTORS:

 

 

 

MARCELO FERNANDES ARAÚJO

MANAGING PARTNER

 

AUTHORIZED USE OF SIGNATURE

 

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

 

SHAREHOLDERS / PARTNERS:

 

 

 

MARCELO FERNANDES ARAÚJO

99,0%

CAROLINA WERNECK CENEVIVA ARAÚJO

1,0%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

NOT AVAILABLE.

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON MAY 04, 2000 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

TRADE NAME: "AMAGRAN".

 

PARTNERS:

 

MARCELO FERNANDES ARAÚJO: BRAZILIAN, MARRIED, ENTREPRENEUR, RESIDENTIAL ADDRESS AT RUA DR. EURICO DE AGUIAR, 35, TORRE A, APTO. 601, SANTA HELENA, ZIP CODE 29055-045, VITÓRIA/ES, HOLDER OF DOCUMENTS RG 4.682.528-4 SSP/PR AND CPF 803.787.739-68;

 

CAROLINA WERNECK CENEVIVA ARAÚJO: BRAZILIAN, MARRIED, ENTREPRENEUR, RESIDENTIAL ADDRESS AT RUA DR. EURICO DE AGUIAR, 35, TORRE A, APTO. 601, SANTA HELENA, ZIP CODE 29055-045, VITÓRIA/ES, HOLDER OF DOCUMENTS RG 4.619.326-1 SSP/PR AND CPF 904.315.029-00.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

PUBLIC INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/10/2013, 31/12/2012 AND 31/12/2011.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/10/2013

31/12/2012

31/12/2011

 

 

 

 

CASH AND CASH EQUIVALENTS

117.060,04

79.066,88

157.370,36

CLIENTS

8.677.117,26

3.897.260,00

1.409.997,79

INVENTORY

3.987.582,75

3.161.878,06

3.005.515,51

INVESTMENTS

 

 

23.300,50

ADVANCES

2.617.974,90

2.347.492,79

3.081.206,84

OTHER

1.019.163,39

306.893,50

15.517,23

TAX CREDITS

938.286,51

748.864,56

603.534,71

PRE PAID EXPENSES

18.913,44

18.913,44

 

 

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

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

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

TOTAL CURRENT ASSETS

17.376.098,29

10.560.369,23

8.296.442,94

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

OTHER CREDITS

 

40.979,26

116.885,61

PRE PAID EXPENSES

25.218,06

 

 

 

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

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

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

TOTAL LONG-TERM RECEIVABLES

25.218,06

40.979,26

116.885,61

 

FIXED ASSETS:

 

 

 

 

 

 

 

INVESTMENTS

9.514,83

42.956,88

 

FIXED ASSETS

1.248.308,34

2.216.845,61

2.126.668,19

DEPRECIATIONS

 

-872.576,26

-647.061,75

INTANGIBLE

968.969,64

948.969,64

148.969,64

 

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

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

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

TOTAL FIXED ASSETS

2.226.792,81

2.336.195,87

1.628.576,08

 

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

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

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

TOTAL ASSETS

19.628.109,16

12.937.544,36

10.041.904,63

 

LIABILITIES:

 

 

 

CURRENT:

31/10/2013

31/12/2012

31/12/2011

 

 

 

 

SUPPLIERS

2.691.606,00

1.509.527,06

753.909,34

LOANS AND FINANCING

314.413,81

243.585,53

135.999,96

ADVANCES

 

5.672.089,90

4.481.553,67

TAX LIABILITIES

4.040,24

161.996,39

100.304,37

OTHER

532.064,05

 

25.905,00

ACCOUNTS PAYABLE

 

535.316,29

 

ADVANCE TO EXCHANGE CONTRACT

7.259.424,39

 

 

LABOR PROVISIONS

10.605,13

 

 

SOCIAL OBLIGATIONS

18.944,61

 

 

LABOR OBLIGATIONS

10.325,25

 

 

 

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

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

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

TOTAL CURRENT LIABILITIES

10.841.423,48

8.122.515,17

5.497.672,34

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

OTHER

 

335.645,84

430.666,54

LOANS AND FINANCING

222.614,27

 

 

 

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

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

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

TOTAL LONG TERM LIABILITIES

222.614,27

335.645,84

430.666,54

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

1.000.000,00

200.000,00

60.000,00

PROFIT SHARING

4.222.762,62

-271.181,84

-299.712,10

ACCRUED PROFIT (LOSS)

-743.379,27

3.913.565,75

3.350.177,49

PROFIT (LOSS) OF PERIOD

4.084.688,06

636.999,44

1.003.100,36

 

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

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

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

TOTAL NET EQUITY

8.564.071,41

4.479.383,35

4.113.565,75

 

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

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

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

TOTAL LIABILITIES

19.628.109,16

12.937.544,36

10.041.904,63

 

PROFIT AND LOSS ACCOUNTS AS OF 31/10/2013, 31/12/2012 AND 31/12/2011.

( FIGURES ARE IN REAIS ).

 

 

31/10/2013

31/12/2012

31/12/2011

 

 

 

 

GROSS SALES

20.144.247,29

10.714.244,76

9.829.144,99

(-) TAXES ON SALES

56.345,06

22.986,62

112.088,73

 

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

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

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

NET SALES

20.087.902,23

10.691.258,14

9.717.056,26

(-) COST OF SOLD GOODS

11.471.398,85

7.587.822,30

6.794.400,55

 

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

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

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

GROSS PROFIT

8.616.503,38

3.103.435,84

2.922.655,71

OPERATING REVENUE (EXPENSE)

-3.075.377,77

-1.521.595,79

-1.601.264,10

FINANCIAL REVENUE(EXPENSE)

-630.717,81

-388.080,08

-318.291,25

 

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

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

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

OPERATIONAL PROFIT (LOSS)

4.910.407,80

1.193.759,97

1.003.100,36

CONTRIBUTION/INCOME TAX

-825.719,74

-556.760,53

 

 

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

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

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

NET PROFIT (LOSS)

4.084.688,06

636.999,44

1.003.100,36

 

RATIOS:

31/10/2013

31/12/2012

31/12/2011

 

QUICK RATIO

1,23

 

,91

 

,96

 

CURRENT RATIO

1,60

 

1,30

 

1,51

 

ACCOUNTS RECEIVABLE TURNOVER

2,32

TIMES

2,74

TIMES

6,89

TIMES

DAYS' SALES IN RECEIVABLES

129,59

DAYS

131,23

DAYS

52,24

DAYS

INVENTORY TURNOVER

2,88

TIMES

2,40

TIMES

2,26

TIMES

ACCOUNTS PAYABLE PERIOD

70,39

DAYS

71,62

DAYS

39,95

DAYS

RETURN ON ASSETS

1,02

TIMES

,83

TIMES

,97

TIMES

SALES TURNOVER ON NET EQUITY

2,35

TIMES

2,39

TIMES

2,36

TIMES

NET WORTH TIE-UP

,15

 

,49

 

,52

 

INDEBTEDNESS

1,29

 

1,89

 

1,44

 

EQUITY RATIO

43,63

%

34,62

%

40,96

%

WORKING CAPITAL RATIO

60,28

%

30,01

%

50,91

%

GENERAL SOLVENCY

1,77

 

1,53

 

1,69

 

RETURN ON NET EQUITY

47,70

%

14,22

%

24,39

%

RETURN ON SALES (PROFIT MARGIN)

20,33

%

5,96

%

10,32

%

GROSS PROFIT MARGIN

42,89

%

29,03

%

30,08

%

OPERATIONAL RESULT

24,44

%

11,17

%

10,32

%

SALES TURNOVER ON LIABILITIES

1,85

TIMES

1,32

TIMES

1,77

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,42

 - OFFICIAL RATE ON 31/01/2014

US$ 1,00 = R$ 2,20

 - OFFICIAL RATE ON 31/10/2013

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

 

THE INTERIM FIGURES FOR OCTOBER 2013 SHOW IMPROVEMENT IN THE FINANCIALS. THE LEVEL OF INDEBTEDNESS KEEPS HIGH BUT THE LIQUIDITY WAS IMPROVED. IT ALSO SHOWS ROCKETING SALES AND PROFITABILITY.

 

REMARK:

******

 

THE COMPANY JUST STATED THAT THE INCREASE IN THE SALES VOLUME WAS ATTRIBUTABLE TO THE INCREASE OF THE DEMAND.

 

REAL ESTATE:

 

   NOT AVAILABLE

 

VEHICLES:

 

   NOT AVAILABLE

 

MACHINES:

 

   NOT AVAILABLE

 

 

INSURANCE

 

NOT AVAILABLE.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO DO BRASIL S/A

1802-3 / 27 3335-3800

 

BANESTES S/A BANCO DO ESTADO DO ESPÍRITO SANTO

0552-5 / 27 3348-0170

 

BANCO ITAÚ S/A

0870   / 27 3321-1746

 

BANCO SANTANDER (BRASIL) S/A

       / 27 3329-0755

 

 

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

 

 

SALE OF GRANITE PLATES AND SLABS.

 

 

IMPORT AND EXPORT:

 

   IMPORTS FROM:

 

NOT AVAILABLE.

 

  EXPORTS TO:

 

UNITED STATES, EUROPE AND ASIA.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

STONE GOLD CHOCOLATE EXTRACAO

 

 

TRACOMAL MINERAÇÃO LTDA

 

 

 

FOREIGN CLIENTS:

 

 

ALLIED STONE INC

 

 

AMERICAN GRANITE

 

 

ARACRUZ INTL. GRANITE AND MARBLE

UNITED STATES

 

ARIZONA TILE LLC

 

 

ASCEND PROTECT

 

 

BEST CHEER STONE WORKS

 

 

LACKRSTONES

UNITED STATES

 

MAGTI ITALIA SPA

ITALY

 

MS INTERNACIONAL

UNITED STATES

 

POLYBUILDING

 

 

THE GRANITE PLACE

UNITED STATES

 

VICKERS

 

 

XIAMEN STONE ENTERPRISE GROUP

 

 

XIAMEN XIN HENFENG

 

 

XIAMEN XINZHONGLEY

 

 

 

STAFF:

 

THE COMPANY HAS: 4 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 2000. SO FAR IT HAS A CLEAR TRADE HISTORY AND MODEST PAYMENT BEHAVIOR. IT IS A FAMILY-RUN COMPANY AND BOTH THE COMPANY AND THE PRINCIPALS ENJOY A FAVORABLE REPUTATION AMONG LOCAL TRADE SOURCES.

 

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:

 

 

AMARAL MINERAÇÃO LDA

 

 

BAHIA MARMORES OERCAL LTDA

 

 

C FERNANDO R DA PAZ & CIA LTDA

 

 

EG TRANSPORTES LTDA - ME

 

 

GMA TRANSPORTES LTDA

 

 

INCOSTONE

 

28 3542-2765

MINERAÇÃO TREMENDAL LTDA

 

 

POLICAST MÁRMORES

 

28 3542-2497

POLICAST MARMORES E GRANITOS LTDA - ME

 

 

SAG MINERAÇÃO LTDA

 

27 3732-9135

SAG MINERAÇÃO LTDA

 

 

SAVIX ARM. PORTUÁRIO

 

27 3339-0880

TRACOMAL NORTE GRANITOS LTDA

 

 

 

PAYMENT HISTORY:

 

NO PAYMENT RECORD IS REGISTERED.

 

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.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.45

UK Pound

1

Rs.102.01

Euro

1

Rs.84.35

 

 

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%)

 

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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.