|
Report No. : |
329667 |
|
Report Date : |
01.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MARISA LOJAS S A |
|
|
|
|
Registered Office : |
Rua James Holland, 422 /432 - Barra Funda, 01138-000 - São Paulo/Sp |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
28.04.1959 |
|
|
|
|
Legal Form : |
Publicly Held Corporation |
|
|
|
|
Line of Business : |
Retail Sale of Wearing Apparel and Accessories. |
|
|
|
|
No. of Employees : |
15000 |
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 : |
Exist |
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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. Since 2008, Brazil became a net
external creditor and all three of the major 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.
After reaching historic lows of 4.5% in early 2014, the unemployment rate
remains low, but is rising. Brazil's traditionally high level of income
inequality has declined for each of the last 15 years. GDP growth has slowed
since 2011, due to several factors, including: overdependence on exports of raw
commodities, low productivity, high operational costs, persistently high
inflation, and low levels of investment. Brazil’s fiscal and current account
balances have eroded during the past four years as the government attempted to
boost economic growth through targeted tax cuts for industry and incentives to
spur household consumption. After winning re-election in October 2014 by a
historically narrow margin, President Dilma ROUSSEFF appointed a new economic
team led by Finance Minister Joaquim LEVY, who introduced a fiscal austerity
package intended to restore the primary account surplus to 1.2% of GDP and
preserve the country’s investment-grade sovereign credit rating. Brazil seeks
to strengthen its workforce and its economy over the long run by imposing local
content and technology transfer requirements on foreign businesses, by
investing in education through social programs such as Bolsa Familia and the
Brazil Science Mobility Program, and by investing in research in the areas of
space, nanotechnology, healthcare, and energy.
|
Source
: CIA |
MARISA LOJAS S/A
ADDRESSES:
|
|
MAIN ADDRESS: |
RUA JAMES HOLLAND, 422 /432 - BARRA FUNDA |
|
ZIP CODE/CITY: |
01138-000 - SÃO PAULO/SP |
|
|
|
|
PHONE: |
11 2109-6351 |
|
FAX: |
11 2109-6307 |
|
E-MAIL: |
trade@marisa.com.br |
|
WEB SITE: |
www.marisa.com.br |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
RUA ANDRADE NEVES, 1849 (RUA GENERAL OSÓRIO, 716) CENTRO |
|
ZIP CODE/CITY: |
96020-080 PELOTAS/RS |
|
|
|
|
ADDRESS: |
RUA CORONEL CHICUTA,355 SUC 328, 3A. - CENTRO |
|
ZIP CODE/CITY: |
99010-050 PASSO FUNDO/RS |
|
|
|
|
ADDRESS: |
AVENIDA PRESIDENTE VARGAS, 844 (RUA COSTA GOMES, 919) SETOR CENTRAL |
|
ZIP CODE/CITY: |
75901-050 RIO VERDE/GO |
|
|
|
|
ADDRESS: |
RUA AUGUSTO ZIMMERNANN, 6030 ITOUPAVA |
|
ZIP CODE/CITY: |
89063-001 BLUMENAU/SC |
|
PHONE: |
47 3331-3000 |
|
|
|
|
ADDRESS: |
RUA PREFEITO MANOEL EVALDO MULLER, 650 SALA 02A VOLTA GRANDE |
|
ZIP CODE/CITY: |
88375-000 NAVEGANTES/SC |
|
CNPJ: |
61.189.288/0461-70 |
|
IT ALSO HAS 329 STORES THROUGHOUT THE COUNTRY, EXCEPT THE RORAIMA,
TOCANTINS, GOIAS, MATO GROSSO DO SUL, MATO GROSSO, RIO GRANDE SO SUL AND
DISTRITO FEDERAL STATES. |
LEGAL
DATA:
|
|
MAIN ACTIVITIES: |
|
RETAIL SALE OF WEARING APPAREL AND ACCESSORIES. |
|
LEGAL FORM: |
PUBLICLY HELD CORPORATION |
|
|
|
|
INCORPORATION DATE: |
28/04/1959 |
|
REGISTER DATE: |
28/04/1959 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
61.189.288/0001-89 |
|
STATE REGISTER: |
104.120.01.110 |
|
|
|
|
SHARE CAPITAL: |
R$ 661.493.441,09 |
|
LAST REGISTER OF CAPITAL: |
03/06/2013 |
|
BOARD OF DIRECTORS: |
|
|
|
|
|
MARCIO LUIZ GOLDFARB |
PRESIDENT DIRECTOR |
|
ADALBERTO PEREIRA DOS SANTOS |
INVESTORS RELATIONS DIRECTOR |
|
RICARDO JOSE RIBEIRO DOS SANTOS |
DIRECTOR |
|
RENE ANTONIO SILVA |
PURCHASE DIRECTOR |
AUTHORIZED
USE OF SIGNATURE:
|
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS / PARTNERS: |
|
|
|
|
|
DÉCIO GOLDFARB |
0,553770% |
|
MARCELO GOLDFARB |
6,071856% |
|
ROBERTA GOLDFARB PHILIPSEN |
6,071800% |
|
FLÁVIA GOLDFARB PAPA |
6,071853% |
|
MÁRCIO LUIZ GOLDFARB |
7,119411% |
|
MICHEL TERPINS |
6,001031% |
|
TICIANA TERPINS STROZENBERG |
6,001030% |
|
RODRIGO TERPINS |
6,001031% |
|
DENISE GOLFARB TERPINS |
6,439424% |
|
DÉCIO GOLDFARB |
0,553770% |
|
FIP BRASIL PLURAL II |
4,661462% |
|
TP PARTNERS PUBLIC EQUITIES FUND, LP |
4,683476% |
|
FIM CREDITO PRIVADO DRAGSTER |
0,115883% |
|
CORONATION FUND MANAGERS |
10,853089% |
|
FANY RACHEL GOLDFARB |
0,486168% |
|
JACK LEON TERPINS |
0,000001% |
|
RICARDO GOLDFARB |
6,357080% |
|
RENATA GOLDFARB |
6,343618% |
|
MARINA GOLDFARB |
6,348172% |
|
OTHERS |
9,819845% |
|
AFFILIATES / SUBSIDIARIES: |
|
|
|
|
|
BEGOLDI COMÉRCIO, PARTICIPAÇÕES E ADMINISTRAÇÃO |
|
|
ACTIO PARTICIPAÇÕES LTDA |
|
|
NOVAY PARTICIPAÇÕES LTDA |
|
|
NIX ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA |
|
|
MAREASA PARTICIPAÇÕES LTDA |
|
|
CREDI 21 PARTICIPAÇÕES LTDA |
|
|
TCM PARTICIPAÇÕES LTDA |
|
|
FIX PARTICIPAÇÕES LTDA |
|
|
DUE MILLE PARTICIPAÇÕES LTDA |
|
|
REGISTRADA - MARCAS, PATENTES E ROYALTIES LTDA. |
|
|
STUDIO COMERCIO VAREJISTA DO VESTUARIO LTDA. |
|
|
MAX PARTICIPACOES LTDA |
|
|
ALBATROZ COMERCIO ATACADISTA DE ARTIGOS DO VESTUARIO LTDA |
|
|
FASHION COMERCIO ATACADISTA DE ARTIGOS DE VESTUARIO LTDA |
|
|
SIARA COMERCIO ATACADISTA DE ARTIGOS DO VESTUARIO LTDA |
|
|
VAREJOS MARISA LTDA. |
|
|
TEF SERVICOS DE PROCESSAMENTO DE DADOS LTDA. |
|
COMPANY'S
BACKGROUND:
|
|
THE SUBJECT WAS ESTABLISHED ON APRIL 28, 1959 AS MARISA LOJAS VAREJISTAS
LTDA. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. LATER IT ADOPTED THE ABOVE
MENTIONED NAME. ON DECEMBER 18, 2009, THE SHAREHOLDERS OF THE COMPANY APPROVED THE
ACQUISITION OF THE TOTAL SHARES ISSUED BY THE COMPANY MARISA S/A. ON JUNE 14, 2010, THE COMPANY WAS REGISTERED AT "CVM"
(BRAZILIAN'S SECURITIES AND EXCHANGE COMMISSION) AND IT WAS REGISTERED IN THE
BM&F'S NOVO MERCADO UNDER THE TICKER "AMAR3. TRADE NAME: MARISA FURTHER DETAILS ARE SO FAR NOT KNOWN. |
|
PUBLIC INFORMATION: |
|
PROTESTS: |
|
310 PROTESTS, TOTAL AMOUNT R$ 2.577.912,33 |
|
DATE OF FIRST PROTEST:
JULY/2010 R$ 1.497,50 |
|
DATE OF HIGHEST PROTEST:
MAY/2014 R$ 272.453,30 |
|
DETAILS OF LATEST PROTESTS: |
|
NOTARY OFFICE: |
DATE: |
VALUE: |
|
2º CARTÓRIO DE SP-SÃO BERNARDO DO CAMPO |
19/06/2015 |
R$ 617,62 |
|
2º CARTÓRIO DE SP-SÃO BERNARDO DO CAMPO |
19/06/2015 |
R$ 950,00 |
|
2º CARTÓRIO DE SP-SÃO BERNARDO DO CAMPO |
19/06/2015 |
R$ 634,80 |
|
2º CARTÓRIO DE SP-SÃO PAULO |
17/06/2015 |
R$ 1.067,50 |
|
2º CARTÓRIO DE SP-SÃO BERNARDO DO CAMPO |
19/06/2015 |
R$ 943,50 |
|
LAWSUITS: |
|
|
|
|
DATE: |
COURT OF LAW: |
|
4 |
EXECUTIVE LAWSUITS |
23/01/15 |
4º VARA DE SP-SP-CENTRAL |
|
1 |
FEDERAL LAWSUIT |
23/03/11 |
19º VARA DF-BRASÍLIA |
|
34 |
STATE LAWSUITS |
07/04/15 |
VARA DE DF-BRASÍLIA |
|
14 |
MUNICIPAL LAWSUITS |
04/12/14 |
1ª VARA DE SP-SANTO ANDRÉ |
|
1 |
SEARCH AND SEIZURE |
07/08/12 |
18º VARA DE SP-SP-CENTRAL |
FINANCIAL
INFORMATION:
|
|
GENERAL BALANCE SHEETS AS OF 31/03/2015, 31/12/2014 AND 31/12/2013. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/03/2015 |
31/12/2014 |
31/12/2013 |
|
|
|
|
|
|
CASH AND BANKS |
24.248 |
42.899 |
30.794 |
|
INVESTMENTS |
219.988 |
337.956 |
87.104 |
|
CLIENTS |
205.126 |
409.286 |
410.077 |
|
INVENTORY |
567.906 |
369.437 |
345.476 |
|
RECOVERABLE TAXES |
30.927 |
23.045 |
31.096 |
|
CREDIT WITH RELATED PARTIES |
87.472 |
73.627 |
83.262 |
|
MARKETABLE SECURITIES |
219 |
205 |
217 |
|
DERIVATIVES OPERATIONS |
53.865 |
14.609 |
11.328 |
|
OTHER CREDITS |
38.017 |
20.821 |
9.582 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
1.227.768 |
1.291.885 |
1.008.936 |
|
LONG-TERM RECEIVABLES: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
4.115 |
13.693 |
7.604 |
|
DEFERRED TAXES |
137.955 |
129.885 |
67.454 |
|
RECOVERABLE TAXES |
16.292 |
16.240 |
14.134 |
|
JUDICIAL DEPOSITS |
52.618 |
51.249 |
42.860 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
210.980 |
211.067 |
132.052 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
INVESTMENTS |
493.288 |
452.402 |
542.701 |
|
FIXED ASSETS |
502.880 |
526.177 |
551.994 |
|
INTANGIBLE |
144.453 |
137.018 |
116.278 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
1.140.621 |
1.115.597 |
1.210.973 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
2.579.369 |
2.618.549 |
2.351.961 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/03/2015 |
31/12/2014 |
31/12/2013 |
|
|
|
|
|
|
SUPPLIERS |
240.168 |
241.240 |
239.794 |
|
LOANS AND FINANCING |
217.791 |
191.202 |
12.377 |
|
SOCIAL / LABOR OBLIGATIONS |
53.760 |
54.420 |
51.342 |
|
TAX LIABILITIES |
30.651 |
122.009 |
124.343 |
|
INTERCOMPANY DEBTS |
11.242 |
10.919 |
43.296 |
|
OTHER |
84.488 |
81.984 |
70.270 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
638.100 |
701.774 |
541.422 |
|
LONG TERM LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
698.161 |
699.560 |
667.403 |
|
DEFERRED REVENUE |
18.000 |
18.250 |
|
|
PROVISIONS |
45.569 |
43.087 |
35.398 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
761.730 |
760.897 |
702.801 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
661.493 |
661.493 |
661.493 |
|
PROFIT RESERVES |
487.783 |
487.295 |
446.245 |
|
ACCRUED PROFIT (LOSS) |
-5.288 |
|
|
|
COMPREHENSIVE INCOME |
35.551 |
7.090 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
1.179.539 |
1.155.878 |
1.107.738 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
2.579.369 |
2.618.549 |
2.351.961 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/03/2015, 31/12/2014 AND 31/12/2013. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/03/2015 |
31/12/2014 |
31/12/2013 |
|
|
|
|
|
|
NET SALES |
493.077 |
2.603.120 |
2.513.366 |
|
(-) COST OF SOLD GOODS |
250.522 |
1.371.093 |
1.353.503 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
242.555 |
1.232.027 |
1.159.863 |
|
OPERATING REVENUE (EXPENSE) |
-243.489 |
-1.124.367 |
-1.029.190 |
|
FINANCIAL REVENUE(EXPENSE) |
-27.086 |
-124.243 |
-80.447 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
-28.020 |
-16.583 |
50.226 |
|
CONTRIBUTION/INCOME TAX |
22.732 |
67.665 |
35.272 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
-5.288 |
51.082 |
85.498 |
|
RATIOS: |
31/03/2015 |
31/12/2014 |
31/12/2013 |
|
QUICK RATIO |
1,03 |
|
1,31 |
|
1,23 |
|
|
CURRENT RATIO |
1,92 |
|
1,84 |
|
1,86 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
2,40 |
TIMES |
6,36 |
TIMES |
6,13 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
37,44 |
DAYS |
56,60 |
DAYS |
58,74 |
DAYS |
|
INVENTORY TURNOVER |
,44 |
TIMES |
3,71 |
TIMES |
3,92 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
86,28 |
DAYS |
63,34 |
DAYS |
63,78 |
DAYS |
|
RETURN ON ASSETS |
,19 |
TIMES |
,99 |
TIMES |
1,07 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
,42 |
TIMES |
2,25 |
TIMES |
2,27 |
TIMES |
|
NET WORTH TIE-UP |
,43 |
|
,46 |
|
,50 |
|
|
INDEBTEDNESS |
1,19 |
|
1,27 |
|
1,12 |
|
|
EQUITY RATIO |
45,73 |
% |
44,14 |
% |
47,10 |
% |
|
WORKING CAPITAL RATIO |
92,41 |
% |
84,09 |
% |
86,35 |
% |
|
GENERAL SOLVENCY |
1,84 |
|
1,79 |
|
1,89 |
|
|
RETURN ON NET EQUITY |
-,45 |
% |
4,42 |
% |
7,72 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
-1,07 |
% |
1,96 |
% |
3,40 |
% |
|
GROSS PROFIT MARGIN |
49,19 |
% |
47,33 |
% |
46,15 |
% |
|
OPERATIONAL RESULT |
-5,68 |
% |
-,64 |
% |
2,00 |
% |
|
SALES TURNOVER ON LIABILITIES |
,77 |
TIMES |
3,71 |
TIMES |
4,64 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 3,12 |
- OFFICIAL RATE ON 26/06/2015 |
|
US$ 1,00 = R$ 3,20 |
- OFFICIAL RATE ON 31/03/2015 |
|
US$ 1,00 = R$ 2,65 |
- OFFICIAL RATE ON 31/12/2014 |
|
US$ 1,00 = R$ 2,34 |
- OFFICIAL RATE ON 31/12/2013 |
|
COMMENTS ON THE FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS. THE ANNUAL FIGURES FOR 2014 SHOW A SATISFACTORY FINANCIAL STANDING.
THE LEVEL OF INDEBTEDNESS WAS SOMEHOW HIGH DUE TO ITS FINANCIAL AND TRADE
DEBTS. HOWEVER, IT HAD GOOD LIQUIDITY RATIOS AND POSITIVE WORKING CAPITAL,
CONSIDERED SUFFICIENT TO COVER THE SHORT TERM DEBTS. IT ALSO SHOWED GROWING
SALES AND POSTED PROFIT. THE FIGURES FOR THE FIRST QUARTER OF 2015 SHOW THAT THE INDEBTEDNESS
REMAINS STABLE AND LIQUIDITY IMPROVED. IT IS NOTED A SLIGHT DOWNWARD SALES
TREND AND POSTED LOSS DUE TO THE HIGH OPERATING EXPENSES. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$ 180.711.000,00
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$ 2.623.000,00
|
MACHINES: |
NOT AVAILABLE
INSURANCE:
|
|
THE COMPANY AND ITS SUBSIDIARIES ADOPTS AN INSURANCE POLICY, WICH CONSIDERS
MAINLY, THE CONCENTRATION OF RISKS AND ITS RELEVANCE, CONTRACTED BY THE
MANAGEMENT, TAKING INTO ACCOUNT THE NATURE OF ITS ACTIVITIES AND THE
ORIENTATION OF ITS INSURANCE CONSULTANTS. AS OF MARCH 31, 2015 THE COMPANY'S INSURANCE COVERAGE WAS BROKEN DOWN
AS FOLLOWS: |
|
COVERAGE: |
CIVIL LIABILITY |
|
VALUE: |
R$ 10.000.000,00 |
|
|
|
|
COVERAGE: |
SUNDRY RISKS |
|
VALUE: |
R$ 228.100.000,00 |
|
|
|
|
COVERAGE: |
TRANSPORTS |
|
VALUE: |
R$ 77.000.000,00 |
|
|
|
|
COVERAGE: |
VEHICLES |
|
VALUE: |
R$ 2.629.000,00 |
BANKING
REFERENCES:
|
|
|
|
|
|
BANCO BRADESCO S/A |
|
|
|
BANCO ITAÚ S/A |
|
|
|
BANCO ALFA S/A |
|
|
|
BANCO SAFRA S/A |
|
|
|
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"). DATE RESEARCHED: JUNE 26, 2015. |
ACTIVITIES
COMMENTS:
|
|
THE SUBJECRT IS ENGAGED IN THE RETAIL SALE OF WEARING APPAREL AND
ACCESSORIES. |
|
IMPORT AND EXPORT: |
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
NOT AVAILABLE. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC CLIENTS: |
|
|
|
END CONSUMER |
|
|
|
STAFF: |
|
|
|
THE COMPANY HAS: 15000 EMPLOYEE(S) |
CONCEPT
AND FULFILMENT:
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THE SUBJECT IS A TRADITIONAL AND OLD-ESTABLISHED COMPANY, OPERATING SINCE
1959, OPERATING WITH HIGH AND GROWING SCALE OF ACTIVITIES. 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.
USUALLY THIS KIND OF SUITS DO NOT AFFECT THE COMPANY REPUTATION BUT IN THE
SUBJECT SPECIFIC CASE IT IS NOT POSSIBLE TO EVALUATE AS THERE ARE SEVERAL
SUITS REGISTERED AND NO DETAILS REGARDING THE AMOUNTS INVOLVED ARE AVAILABLE
FOR PUBLIC INSPECTION. OUR INVESTIGATION THROUGH THE PUBLIC SHOWED SEVERAL DETRIMENTAL FILES
REGISTERED AGAINST THE SUBJECT BUT SUCH PROTESTS ARE NOT LIKELY TO AFFECT THE
COMPANY'S OVERALL SITUATION GIVEN ITS HIGH FINANCIAL POWER AND HIGH SCALE OF
ACTIVITIES. |
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MAIN SUPPLIERS: |
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DOMESTIC SUPPLIERS: |
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NOT AVAILABLE. |
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PAYMENT HISTORY: |
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35 SUPPLIERS REPORTED PAYMENTS: |
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TOTAL AMOUNT: R$ 89.265.569,00 |
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AMOUNT OF INVOICES PAID: 6431 |
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TOTAL OF PROMPT PAYMENTS: 98,6% |
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TOTAL OF DELAYED PAYMENTS: 1,4% |
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HIGHEST INVOICE: R$ 834.822,00 |
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HIGHEST CREDIT: R$ 834.822,00 |
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OUTSTANDING INVOICES DUE WITHIN THE NEXT 90 DAYS: |
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--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
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DUE WITHIN 30 DAYS |
3 |
53 |
R$ 344.868,90 |
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DUE WITHIN 60 DAYS |
6 |
169 |
R$ 1.518.974,09 |
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DUE WITHIN 90 DAYS |
5 |
103 |
R$ 1.483.815,38 |
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ALL |
7 |
325 |
R$ 3.347.658,37 |
FINAL
OPINION:
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THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL
YEARS. UP TO DATE IT HAS A SATISFACTORY FINANCIAL STANDING AND GOOD PAYMENT
BEHAVIOR. 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. AN INITIAL CREDIT LIMIT OF USD 3.000.000,00 MAY BE CONSIDERED. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.75 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.71.20 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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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 |
|
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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 |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.