|
Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
FARMOQUIMICA S/A |
|
|
|
|
Registered Office : |
Av. José Silva De Azevedo Neto,200 Andar 1, Bloco 1, Salas 101,102,103,104,106,
107, - Barra Da Tijuca, 22775-056 - Rio De Janeiro/Rj |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.05.1946 |
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
Line of Business : |
Manufacturer of pharmaceuticals |
|
|
|
|
No of Employees : |
817 |
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 |
|
Maximum Credit Limit : |
USD 1.000.000,00 |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
FARMOQUIMÍCA S/A
|
MAIN ADDRESS: |
AV. JOSÉ SILVA DE AZEVEDO NETO,200 ANDAR 1, BLOCO 1, SALAS
101,102,103,104,106, 107, - BARRA DA TIJUCA |
|
ZIP CODE/CITY: |
22775-056 - RIO DE JANEIRO/RJ |
|
|
|
|
PHONE: |
21 2122-6100 |
|
FAX: |
21 2104-9527 |
|
E-MAIL: |
rcaetano@fqm.com.br |
|
WEB SITE: |
www.farmoquimica.com.br |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
RUA ARSENAL,1635 |
|
ZIP CODE/CITY: |
SÃO GONÇALO/RJ |
|
|
|
|
ADDRESS: |
RUA VIÚVA CLÁUDIO,300 - JACARÉ |
|
ZIP CODE/CITY: |
20970-030 RIO DE JANEIRO/RJ |
|
PHONE: |
21 2122-6000 |
|
CNPJ: |
333494730 |
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF PHARMACEUTICALS |
|
LEGAL FORM: |
PRIVATELY
HELD CORPORATION |
|
|
|
|
INCORPORATION DATE: |
06/05/1946 |
|
REGISTER DATE: |
06/05/1946 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
33.349.473/0001-58 |
|
STATE REGISTER: |
81.395.640 |
|
|
|
|
SHARE CAPITAL: |
R$ 49.367.748,00 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
MARCELO GERALDI |
PRESIDENT DIRECTOR |
|
FERNANDO GABRIEL ITZAIMA SANCHEZ |
VICE-PRESIDENT DIRECTOR |
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
SILMORE COMPANY SOCIEDAD ANONIMA (URUGUAY) |
53,5% |
|
OTHERS |
33,3% |
|
ELOISIO CRUZ GERALDI |
6,6% |
|
MARCELO GERALDI |
6,6% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
|
|
|
IODOS ADMINISTRAÇÃO DE BENS LTDA |
99,9% |
|
HERBARIUM LABORATORIO BOTANICO LTDA |
100% |
|
TIME STOCK COM E REPRESENTAÇÕES LTDA |
43,2% |
THE SUBJECT WAS ESTABLISHED ON MAY 6, 1946 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 FQM.
IN JULY 2007 THE COMPANY TOOK OVER TRAVERSE PARTICIPAÇÕES LTDA, CNPJ
08.380.611-14.
CERTIFICATIONS:
**************
ISO 9002:1994,
NBR ISO 9001:2000
FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY ARE SO FAR NOT KNOWN.
|
PUBLIC
INFORMATION: |
|
NO DETRIMENTAL FILES WERE FOUND. |
|
GENERAL BALANCE SHEETS AS OF 31/12/2012, 31/12/2011 AND 31/12/2010. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
|
|
|
|
CASH AND CASH EQUIVALENTS |
4.344 |
2.790 |
10.840 |
|
CLIENTS |
57.552 |
52.637 |
35.475 |
|
INVENTORY |
31.849 |
28.228 |
24.732 |
|
RECOVERABLE TAXES |
8.816 |
995 |
497 |
|
CREDIT WITH RELATED PARTIES |
|
39.568 |
13.664 |
|
PRE PAID EXPENSES |
|
171 |
473 |
|
OTHER CREDITS |
4.515 |
2.673 |
2.230 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
107.076 |
127.062 |
87.911 |
|
LONG-TERM RECEIVABLES:
|
|
|
|
|
|
|
|
|
|
INTERCOMPANY CREDITS |
18.783 |
5.259 |
7.149 |
|
INVENTORY |
|
1.000 |
5.112 |
|
DEFERRED TAXES |
2.330 |
1.422 |
4.012 |
|
JUDICIAL DEPOSITS |
5.401 |
4.986 |
4.354 |
|
PRE PAID EXPENSES |
2.732 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
29.246 |
12.667 |
20.627 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
23.483 |
4.704 |
2.899 |
|
FIXED ASSETS |
42.949 |
41.086 |
33.110 |
|
INTANGIBLE |
86.272 |
74.133 |
3.546 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
152.704 |
119.923 |
39.555 |
|
|
================ |
================ |
============= |
|
TOTAL ASSETS |
289.026 |
259.652 |
148.093 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
|
|
|
|
SUPPLIERS |
17.190 |
11.066 |
11.028 |
|
SOCIAL OBLIGATIONS |
13.960 |
10.620 |
7.291 |
|
TAXES & CONTRIBUTIONS |
9.048 |
8.311 |
6.336 |
|
ACCOUNTS PAYABLE |
4.984 |
4.870 |
|
|
LOANS AND FINANCING |
30.049 |
27.824 |
512 |
|
DIVIDENDS |
9.984 |
39.144 |
13.289 |
|
OTHER |
281 |
1.062 |
547 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
85.496 |
102.897 |
39.003 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
14.102 |
1.585 |
2.053 |
|
ACCOUNTS PAYABLE |
52.930 |
49.352 |
|
|
PROVISION FOR CONTINGENCIES |
7.048 |
7.374 |
7.375 |
|
OTHER |
|
200 |
399 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
74.080 |
58.511 |
9.827 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
49.368 |
49.368 |
49.368 |
|
CAPITAL RESERVES |
7.307 |
7.307 |
7.307 |
|
PROFIT RESERVES |
72.775 |
41.569 |
42.532 |
|
DIVIDENDS |
|
|
56 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
129.450 |
98.244 |
99.263 |
|
|
================ |
================ |
============= |
|
TOTAL LIABILITIES |
289.026 |
259.652 |
148.093 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2012, 31/12/2011 AND 31/12/2010. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
|
|
|
|
|
NET SALES |
360.784 |
284.761 |
235.947 |
|
(-) COST OF SOLD GOODS |
94.399 |
72.581 |
61.297 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
266.385 |
212.180 |
174.650 |
|
OPERATING REVENUE (EXPENSE) |
-190.251 |
-169.247 |
-131.236 |
|
FINANCIAL REVENUE(EXPENSE) |
-14.251 |
-258 |
2.473 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
61.883 |
42.675 |
45.887 |
|
CONTRIBUTION/INCOME TAX |
-19.845 |
-16.945 |
-15.330 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
42.038 |
25.730 |
30.557 |
|
RATIOS: |
31/12/2012 |
31/12/2011 |
31/12/2010 |
|
QUICK RATIO |
,88 |
|
,96 |
|
1,62 |
|
|
CURRENT RATIO |
1,25 |
|
1,23 |
|
2,25 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
6,27 |
TIMES |
5,41 |
TIMES |
6,65 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
57,43 |
DAYS |
66,54 |
DAYS |
54,13 |
DAYS |
|
INVENTORY TURNOVER |
2,96 |
TIMES |
2,57 |
TIMES |
2,48 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
65,56 |
DAYS |
54,89 |
DAYS |
64,77 |
DAYS |
|
RETURN ON ASSETS |
1,25 |
TIMES |
1,10 |
TIMES |
1,59 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
2,79 |
TIMES |
2,90 |
TIMES |
2,38 |
TIMES |
|
NET WORTH TIE-UP |
,33 |
|
,42 |
|
,33 |
|
|
INDEBTEDNESS |
1,23 |
|
1,64 |
|
,49 |
|
|
EQUITY RATIO |
44,79 |
% |
37,84 |
% |
67,03 |
% |
|
WORKING CAPITAL RATIO |
25,24 |
% |
23,48 |
% |
125,40 |
% |
|
GENERAL SOLVENCY |
1,81 |
|
1,61 |
|
3,03 |
|
|
RETURN ON NET EQUITY |
32,47 |
% |
26,19 |
% |
30,78 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
11,65 |
% |
9,04 |
% |
12,95 |
% |
|
GROSS PROFIT MARGIN |
73,84 |
% |
74,51 |
% |
74,02 |
% |
|
OPERATIONAL RESULT |
17,15 |
% |
14,99 |
% |
19,45 |
% |
|
SALES TURNOVER ON LIABILITIES |
4,22 |
TIMES |
2,77 |
TIMES |
6,05 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
US$ 1,00 = R$ 2,37 |
|
US$ 1,00 = R$ 2,04 |
|
US$ 1,00 = R$ 1,87 |
|
US$ 1,00 = R$ 1,66 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE 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. |
|
REAL ESTATE: |
NOT AVAILABLE
|
VEHICLES: |
NOT AVAILABLE
|
MACHINES: |
NOT AVAILABLE
THE SUBJECT IS SAID TO HOLD INSURANCE POLICIES BUT DETAILS WERE NOT
DISCLOSED.
|
|
BRANCH/PHONE: |
|
|
BANCO DO BRASIL S/A |
0287 |
|
|
BANCO BRADESCO S/A |
0227 |
|
|
HSBC BANK BRASIL S/A |
0614 |
|
|
BANCO UNIBANCO S/A |
0272 |
|
|
BANCO RURAL S/A |
0038 |
|
|
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"). |
|
SUBJECT IS ENGAGED IN THE MANUFACTURING OF MANUFACTURE OF
PHARMACEUTICALS |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
NOT AVAILABLE |
EXPORTS TO:
|
NOT AVAILABLE |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
ALTO MIUDEZAS COMERCIAL LTDA |
|
|
|
DROGUISTAS POTIGUARES REUNIDOS LTDA |
|
|
|
INTERMED FARMACÊUYICA LTDA |
|
|
|
ITA REPRESENTAÇÕES DE PRODS FARMACÊUTICOS LTDA |
|
|
|
JORGE BATISTA & CIA LTDA |
|
|
|
REYDROGAS COMERCIAL LTDA |
|
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 817 EMPLOYEE(S) |
THE SUBJECT IS AN OLD-ESTABLISHED COMPANY, OPERATING SINCE 1946. SO FAR
IT HAS A CLEAR TRADE HISTORY AND NO PAYMENT PROBLEMS ARE NOTED.
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.
MOST OF THE SUPPLIERS, WHICH PROVIDED INFORMATION REPORTED PROMPT
PAYMENTS, IT MAY BE NOTED SUBJECT HAS A VERY GOOD TRADE BEHAVIOR.
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
|
|
AGRO QUIMICA MARINGA LTDA |
|
|
|
FAPATI IND E COM DE MATERIAL PLASTICO LTDA |
|
|
|
MACRON INDUSTRIA GRÁFICA LTDA |
|
|
|
SALDEQUIMICA COMERCIAL LTDA |
|
|
|
WHEATON DO BRASIL INDUSTRIA E COMERCIO LTDA |
|
|
|
PAYMENT HISTORY: |
|
7 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 103.460,00 |
|
|
|
AMOUNT OF INVOICES PAID: 21 |
|
TOTAL OF PROMPT PAYMENTS: 100% |
|
HIGHEST INVOICE: R$ 42.395,00 |
|
HIGHEST CREDIT: R$ 42.395,00 |
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 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.
A CREDIT LIMIT OF USD 1.000.000,00 MAY BE CONSIDERED.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.16 |
|
|
1 |
Rs. 103.44 |
|
Euro |
1 |
Rs. 85.26 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.