|
Report Date : |
22.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
LETHA INDUSTRIA E
COMERCIO LTDA |
|
|
|
|
Registered Office : |
Rodovia Br 101 Sul, S/Nº. Km 70, Galpão Gv 01, Loja 4 Unidade Ceasa Pe - Bairro Curado, 50790-900 - Recife/PE |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.02.2003 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
The Subject is Engaged in the Wholesale of Food Products. |
|
|
|
|
No. of Employees : |
12 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
LETHA INDUSTRIA E
COMERCIO LTDA
|
MAIN ADDRESS: |
RODOVIA BR 101 SUL, S/Nº. KM 70, GALPÃO GV 01, LOJA 4 UNIDADE CEASA PE
- BAIRRO CURADO |
|
ZIP CODE/CITY: |
50790-900 - RECIFE/PE |
|
|
|
|
PHONE: |
81 3422-7191 |
|
FAX: |
81 3422-7191 |
|
E-MAIL: |
|
|
WEB SITE: |
|
|
|
|
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
AVENIDA CENTRAL, 3185 B, TÉRREO - BAIRRO AFOGADOS |
|
ZIP CODE/CITY: |
50770-740 RECIFE/PE |
|
CNPJ: |
05.522.145/0003-38 |
|
MAIN ACTIVITIES: |
|
WHOLESALE OF FOOD PRODUCTS. |
|
LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
|
|
|
|
INCORPORATION DATE: |
14/02/2003 |
|
REGISTER DATE: |
14/02/2003 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
05.522.145/0001-76 |
|
STATE REGISTER: |
0299334-12 |
|
|
|
|
SHARE CAPITAL: |
R$ 300.000,00 |
|
LAST REGISTER OF CAPITAL: |
10/06/2008 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
RODRIGO MARANHÃO CUNHA |
MANAGER |
|
THE MANAGER IS AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
MARANHAO CUNHA & CIA PARTICIPACOES E EMPREENDIMENTOS LTDA |
99% |
|
ALEXANDRE ALBERTO DE SOUZA BACELAR |
1% |
|
AFFILIATES /
SUBSIDIARIES |
|
|
|
|
|
A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS
THE FOLLOWING UNCONFIRMED HOLDINGS: |
|
|
|
|
|
LETHA EXPORTAÇÃO E COMÉRCIO DE ALIMENTOS |
|
|
SILVER FRUIT IMPORTACAO E EXPORTACAO S/A |
|
|
VALOR CONSULTORIA E ADMINISTRAÇÃO LTDA |
|
|
MINARETE PATRIMONIAL S/A |
|
|
THE SUBJECT WAS ESTABLISHED IN 2003 TO BE ENGAGED IN THE SAID LINE OF
BUSINESS AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE
REPORTED HEREIN. TRADING STYLE: LETHA TRADING THE PARTNERS: MARANHAO CUNHA & CIA PARTICIPACOES E EMPREENDIMENTOS LTDA.: A
LIMITED LIABILITY COMPANY, ENROLLED WITH THE FEDERAL TAXPAYER´S # CNPJ
20.700.885/0001-49, WITH HEAD OFFICE AT AV CENTRAL, 3185, AFOGADOS -
RECIFE/PE. ALEXANDRE ALBERTO DE SOUZA BACELAR: BRAZILIAN, SINGLE, ENTREPRENEUR,
HOLDER OF DOCUMENTS RG 4.446.865 SSP/PE AND CPF 796.140.604-25, RESIDENTIAL
ADDRESS AT RUA SETUBAL 1700, APTº 302, ZIP CODE 51130-010, BAIRRO DE BOA
VIAGEM. RECIFE/PE. FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN INTERVIEWED SOURCES AT THE SUBJECT STATED THAT ARE STILL WAITING
FOR AUTHORIZATION FROM THE PRINCIPALS TO PROVIDE THE DATA NECESSARY TO
COMPLETE THIS REPORT. A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE
DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE
SENT TO YOUR ATTENTION. THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR
DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES
USUALLY INVESTIGATED. |
|
PUBLIC INFORMATION: |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
1 |
FEDERAL LAWSUIT |
27/10/10 |
22ª VARA DE PE-RECIFE |
|
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 |
301.422,21 |
112.654,98 |
|
|
INVESTMENTS |
221.496,96 |
11.547,09 |
|
|
CLIENTS |
1.953.729,14 |
1.814.098,65 |
|
|
INVENTORY |
1.535.409,72 |
1.976.540,31 |
|
|
RECOVERABLE TAXES |
118.723,64 |
115.476,89 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
4.130.781,67 |
4.030.317,92 |
|
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
INTERCOMPANY CREDITS |
81.694,00 |
546.098,32 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL LONG-TERM RECEIVABLES |
81.694,00 |
546.098,32 |
|
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
860.196,09 |
382.066,40 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL FIXED ASSETS |
860.196,09 |
382.066,40 |
|
|
|
================ |
================ |
|
|
TOTAL ASSETS |
5.072.671,76 |
4.958.482,64 |
|
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2012 |
31/12/2011 |
|
|
|
|
|
|
|
SUPPLIERS |
132.314,77 |
87.322,11 |
|
|
FINANCING |
466.078,88 |
948.475,22 |
|
|
TAX LIABILITIES |
162.731,76 |
199.553,32 |
|
|
PROVISIONS |
88.391,50 |
66.113,98 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
849.516,91 |
1.301.464,63 |
|
|
LONG TERM LIABILITIES:
|
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
424.612,07 |
302.051,84 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
424.612,07 |
302.051,84 |
|
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
300.000,00 |
300.000,00 |
|
|
PROFIT RESERVES |
3.498.542,78 |
3.054.966,17 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL NET EQUITY |
3.798.542,78 |
3.354.966,17 |
|
|
|
================ |
================ |
|
|
TOTAL LIABILITIES |
5.072.671,76 |
4.958.482,64 |
|
|
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 |
21.369.779,32 |
28.247.476,13 |
|
|
(-) TAXES ON SALES |
3.605.081,77 |
4.609.988,10 |
|
|
|
---------------- |
---------------- |
|
|
NET SALES |
17.764.697,55 |
23.637.488,03 |
|
|
(-) COST OF SOLD GOODS |
14.875.503,38 |
18.917.334,76 |
|
|
|
---------------- |
---------------- |
|
|
GROSS PROFIT |
2.889.194,17 |
4.720.153,27 |
|
|
OPERATING REVENUE (EXPENSE) |
-2.035.728,47 |
-3.091.053,50 |
|
|
|
---------------- |
---------------- |
|
|
OPERATIONAL PROFIT (LOSS) |
853.465,70 |
1.629.099,77 |
|
|
CONTRIBUTION/INCOME TAX |
-222.839,09 |
-850.249,03 |
|
|
|
---------------- |
---------------- |
|
|
NET PROFIT (LOSS) |
630.626,61 |
778.850,74 |
|
|
MONTHLY SALES |
|||
|
|
2013 |
|
|
|
|
--------------------- |
|
|
|
JANUARY |
R$ 1.764.933,92 |
|
|
|
FEBRUARY |
R$ 1.916.229,72 |
|
|
|
MARCH |
R$ 2.214.930,04 |
|
|
|
APRIL |
R$ 2.344.864,28 |
|
|
|
MAY |
R$ 2.450.425,51 |
|
|
|
JUNE |
R$ 2.412.988,43 |
|
|
|
JULY |
R$ 2.600.072,87 |
|
|
|
AUGUST |
R$ 2.927.241,06 |
|
|
|
SEPTEMBER |
R$ 3.218.818,14 |
|
|
|
OCTOBER |
|
|
|
|
NOVEMBER |
|
|
|
|
DECEMBER |
|
|
|
|
TOTAL |
R$ 21.850.503,97 |
|
|
|
RATIOS: |
31/12/2012 |
31/12/2011 |
|
|
QUICK RATIO |
3,06 |
|
1,58 |
|
|
|
|
CURRENT RATIO |
4,86 |
|
3,10 |
|
|
|
|
ACCOUNTS RECEIVABLE TURNOVER |
9,09 |
TIMES |
13,03 |
TIMES |
|
|
|
DAYS' SALES IN RECEIVABLES |
39,59 |
DAYS |
27,63 |
DAYS |
|
|
|
INVENTORY TURNOVER |
9,69 |
TIMES |
9,57 |
TIMES |
|
|
|
ACCOUNTS PAYABLE PERIOD |
3,20 |
DAYS |
1,66 |
DAYS |
|
|
|
RETURN ON ASSETS |
3,50 |
TIMES |
4,77 |
TIMES |
|
|
|
SALES TURNOVER ON NET EQUITY |
4,68 |
TIMES |
7,05 |
TIMES |
|
|
|
NET WORTH TIE-UP |
,23 |
|
,11 |
|
|
|
|
INDEBTEDNESS |
,34 |
|
,48 |
|
|
|
|
EQUITY RATIO |
74,88 |
% |
67,66 |
% |
|
|
|
WORKING CAPITAL RATIO |
386,25 |
% |
209,68 |
% |
|
|
|
GENERAL SOLVENCY |
3,98 |
|
3,09 |
|
|
|
|
RETURN ON NET EQUITY |
16,60 |
% |
23,21 |
% |
|
|
|
RETURN ON SALES (PROFIT MARGIN) |
3,55 |
% |
3,30 |
% |
|
|
|
GROSS PROFIT MARGIN |
16,26 |
% |
19,97 |
% |
|
|
|
OPERATIONAL RESULT |
4,80 |
% |
6,89 |
% |
|
|
|
SALES TURNOVER ON LIABILITIES |
20,91 |
TIMES |
18,16 |
TIMES |
|
|
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 2,44 |
- OFFICIAL RATE ON 17/10/2014 |
|
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 NORMAL FINANCIAL STANDING. IT SHOWS HIGH
LIQUIDITY RATIOS WITH POSITIVE WORKING CAPITAL AMOUNT AND LOW LEVEL OF
INDEBTEDNESS. IN ADDITION IT IS NOTED DROP IN SALES BUT PROFIT WAS MADE. |
|
REAL ESTATE: |
|
DETAIL OF OWNED
REAL ESTATE: |
|
TYPE: |
OTHERS |
|
VALUE: |
R$ 2.000,00 |
|
VEHICLES: |
NOT AVAILABLE
|
MACHINES: |
NOT AVAILABLE
|
INSURANCE COMPANY: |
NOT AVAILABLE |
|
COVERAGE: |
CARGA (PRODUTOS VENDIDOS / TRANSPORTADOS) |
|
VALUE: |
R$ 300.000,00 |
|
|
|
|
INSURANCE COMPANY: |
NOT AVAILABLE |
|
COVERAGE: |
FIRE |
|
VALUE: |
R$ 4.000.000,00 |
|
|
BRANCH/PHONE: |
|
|
BANCO REAL (SANTANDER) S/A |
1588 / 81 3421-4500 |
|
|
BANCO DO BRASIL S/A |
1850-3 / 81 3419-3100 |
|
|
BANCO BRADESCO S/A |
81 3301-8722 |
|
|
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 NOT RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). |
|
THE SUBJECT IS ENGAGED IN THE WHOLESALE OF FOOD PRODUCTS. MAIN PRODUCT: CANADIAN CANARY SEEDS |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
CANADA. |
EXPORTS TO:
|
NOT AVAILABLE |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
PHONE: |
|
COMERCIAL MANACIAL |
|
75 3221-0106 |
|
D. LUNA |
|
85 3472-6436 |
|
DISTRIBUIDORA DE CEREAIS TIO LUIZ |
|
79 3431-0068 |
|
INDUSTRIA E COMERCIO CAFE OURO VERDE |
|
87 3762-7300 |
|
INDUSTRIA E COMERCIO GUARANI |
|
75 3622-9781 |
|
VIMACEDO COMERCIO DE CEREAIS |
|
11 3324-2100 |
|
STAFF: |
|
|
|
THE COMPANY HAS: 12 EMPLOYEE(S) |
|
THE SUBJECT IS A FAMILY-OWNED COMPANY WHICH WAS ESTABLISHED IN 2003. SO
FAR IT HAS A CLEAR TRADE HISTORY AND MODEST PAYMENT BEHAVIOUR. LITTLE OR NOTHING IS LOCALLY KNOWN OF SUBJECT AS A USER OF CREDIT
FACILITIES AS ITS MAIN SUPPLIERS ARE BELIEVED TO BE ABROAD. THE LAWSUIT REPORTED IS NOT RELATED WITH TRADE
DEBT. IT IS RELATED TO TAX DEBT THAT FOR ANY REASON THE COMPANY HAS NOT YET
PAID. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUIT DOES NOT AFFECT THE
COMPANY’S TRADE REPUTATION. |
|
FOREIGN
SUPPLIERS: |
|
PHONE: |
|
FINORA |
|
6045975060 |
|
PROVALCID CORP. |
CANADA |
|
|
ROY LEGUMES |
|
2047584001 |
|
WALKER SUDS |
|
3068733777 |
|
WALTER SEES LTD |
CANADA |
|
|
WESTERN GRAIN |
CANADA |
|
|
PAYMENT HISTORY: |
|
4 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 4.706,00 |
|
|
|
AMOUNT OF INVOICES PAID: 4 |
|
TOTAL OF PROMPT PAYMENTS: 100% |
|
HIGHEST INVOICE: R$ 2.336,00 |
|
HIGHEST CREDIT: R$ 2.336,00 |
|
THE SUBJECT IS A FAMILY-OWNED COMPANY IN BUSINESS FOR SEVERAL YEARS.
UP TO DATE IT HAS A NORMAL FINANCIAL STANDING AND NO ADVERSE INFORMATION IS
NOTED. 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.61.30 |
|
|
1 |
Rs.99.16 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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.