|
Report No. : |
344206 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIDORA FARMACEUTICA LTDA |
|
|
|
|
Registered Office : |
Rua Alberto Rangel,823 - Rubem Berta |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
30.08.1966 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of Drugs For Human Use. |
|
|
|
|
No. of Employees : |
82 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 200.000,00 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 – 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 |
VIDORA FARMACEUTICA LTDA
|
MAIN ADDRESS:
|
RUA ALBERTO RANGEL,823 - RUBEM BERTA |
|
ZIP CODE/CITY: |
91.180-840 - PORTO
ALEGRE/RS |
|
|
|
|
PHONE: |
51 3230-4086 |
|
FAX: |
51 3230-4086 |
|
E-MAIL: |
luciana.tomazine@cervosul.com.br |
|
WEB SITE: |
www.vidora.com.br |
BRANCHES
|
|
NOT AVAILABLE. |
LEGAL
DATA
|
|
MAIN
ACTIVITIES: |
|
MANUFACTURE OF DRUGS FOR HUMAN USE. |
|
LEGAL FORM: |
LIMITED LIABILITY
COMPANY |
|
|
|
|
INCORPORATION DATE: |
30/08/1966 |
|
REGISTER DATE: |
30/08/1966 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
92.762.277/0001-70 |
|
STATE REGISTER: |
960.023.968 |
|
|
|
|
SHARE CAPITAL: |
R$ 26.313.107,00 |
BOARD
OF DIRECTORS
|
|
|
|
|
|
GENESIO CERVO |
MANAGING PARTNER |
AUTHORIZED
USE OF SIGNATURE
|
|
THE MANAGING PARTNER IS AUTHORIZED TO
SIGN ON BEHALF OF THE COMPANY. |
SHAREHOLDERS
/ PARTNERS
|
|
|
|
|
|
GENESIO CERVO |
99,92% |
|
GCPAR PARTICIPAÇÕES LTDA |
0,08% |
AFFILIATES
/ SUBSIDIARIES
|
|
|
A
SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS/HAVE THE
FOLLOWING UNCONFIRMED HOLDINGS: |
|
|
MBJP IMOVEIS
LTDA |
|
|
JASPE EMPREENDIMENTO IMOBILIARIO
LTDA - SPE |
|
|
VOGHA HIGIENE E BELEZA
LTDA |
|
|
CERVOSUL DISTRIBUIDORA DE
MEDICAMENTOS LTDA |
|
COMPANY'S
BACKGROUND
|
|
THE SUBJECT WAS ESTABLISHED ON AUGUST
30, 1966 AS LABORATORIOS KLEIN LTDA. TO BE ENGAGED IN THE SAID LINE OF BUSINESS.
LATER IT ADOPTED THE ABOVE MENTIONED NAME AND UP TO DATE IT IS STILL
OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN. FURTHER DETAILS ARE SO FAR NOT KNOWN. |
PUBLIC
INFORMATION
|
|
NO DETRIMENTAL FILES WERE FOUND. |
|
(RESEARCH DATE: 09/10/2015) |
FINANCIAL
INFORMATION
|
|
GENERAL BALANCE SHEETS AS OF 31/12/2014
AND 31/12/2013. |
|
( FIGURES ARE IN REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2014 |
31/12/2013 |
|
|
|
|
|
|
|
CASH AND CASH EQUIVALENTS |
79.737,50 |
88.728,73 |
|
|
CLIENTS |
2.813.466,96 |
1.230.804,63 |
|
|
INVENTORY |
4.158.030,84 |
2.691.349,57 |
|
|
ADVANCES |
3.171.977,37 |
4.587.032,96 |
|
|
RECOVERABLE TAXES |
1.455.554,16 |
315.331,90 |
|
|
OTHER |
580.272,22 |
|
|
|
PREPAID EXPENSES |
38.307,30 |
12.403,77 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
12.297.346,35 |
8.925.651,56 |
|
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
JUDICIAL DEPOSITS |
277.285,38 |
277.285,38 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL LONG-TERM RECEIVABLES |
277.285,38 |
277.285,38 |
|
|
FIXED ASSETS:
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
23.718.901,58 |
6.916.215,01 |
|
|
INTANGIBLE |
1.269.633,14 |
632.732,72 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL FIXED ASSETS |
24.988.534,72 |
7.548.947,73 |
|
|
|
================ |
================ |
|
|
TOTAL ASSETS |
37.563.166,45 |
16.751.884,67 |
|
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2014 |
31/12/2013 |
|
|
|
|
|
|
|
SUPPLIERS |
1.992.415,86 |
1.311.546,99 |
|
|
TAXES & CONTRIBUTIONS |
550.944,30 |
536.511,43 |
|
|
SOCIAL OBLIGATIONS |
310.561,61 |
207.336,21 |
|
|
LOANS AND FINANCING |
667.722,33 |
|
|
|
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
3.521.644,10 |
2.055.394,63 |
|
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
RELATED COMPANIES |
|
19.192,98 |
|
|
LOANS AND FINANCING |
22.745.551,57 |
-5.000,00 |
|
|
INSTALLMENTS TAXES PAYABLE |
4.625.678,56 |
4.282.020,41 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
27.371.230,13 |
4.296.213,39 |
|
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
26.313.108,14 |
26.313.108,14 |
|
|
CAPITAL RESERVES |
89.340,60 |
89.340,60 |
|
|
OTHER COMPREHENSIVE INCOME |
1.108.400,80 |
1.080.460,41 |
|
|
ACCRUED PROFIT (LOSS) |
-20.840.557,32 |
-17.082.632,50 |
|
|
|
---------------- |
---------------- |
|
|
TOTAL NET EQUITY |
6.670.292,22 |
10.400.276,65 |
|
|
|
================ |
================ |
|
|
TOTAL LIABILITIES |
37.563.166,45 |
16.751.884,67 |
|
|
PROFIT AND LOSS ACCOUNTS AS OF
31/12/2014 AND 31/12/2013. |
|
( FIGURES ARE IN REAIS ). |
|
|
31/12/2014 |
31/12/2013 |
|
|
|
|
|
|
|
GROSS SALES |
7.692.105,48 |
4.861.266,99 |
|
|
(-) TAXES ON SALES |
1.697.839,68 |
1.050.671,92 |
|
|
|
---------------- |
---------------- |
|
|
NET SALES |
5.994.265,80 |
3.810.595,07 |
|
|
(-) COST OF SOLD GOODS |
4.677.455,07 |
2.853.606,85 |
|
|
|
---------------- |
---------------- |
|
|
GROSS PROFIT |
1.316.810,73 |
956.988,22 |
|
|
OPERATING REVENUE (EXPENSE) |
-4.335.439,30 |
-3.210.429,28 |
|
|
FINANCIAL REVENUE(EXPENSE) |
-710.279,06 |
-1.328.784,98 |
|
|
|
---------------- |
---------------- |
|
|
OPERATIONAL PROFIT (LOSS) |
-3.728.907,63 |
-3.582.226,04 |
|
|
|
---------------- |
---------------- |
|
|
NET PROFIT (LOSS) |
-3.728.907,63 |
-3.582.226,04 |
|
|
MONTHLY SALES |
|||
|
|
2015 |
|
|
|
|
--------------------- |
|
|
|
JANUARY |
R$ 490.340,85 |
|
|
|
FEBRUARY |
R$ 573.644,05 |
|
|
|
MARCH |
R$ 1.131.617,81 |
|
|
|
APRIL |
R$ 915.461,03 |
|
|
|
MAY |
R$ 711.899,30 |
|
|
|
JUNE |
R$ 615.016,54 |
|
|
|
JULY |
R$ 670.728,16 |
|
|
|
AUGUST |
R$ 590.535,36 |
|
|
|
SEPTEMBER |
R$ 494.432,66 |
|
|
|
OCTOBER |
|
|
|
|
NOVEMBER |
|
|
|
|
DECEMBER |
|
|
|
|
TOTAL |
R$ 6.193.675,76 |
|
|
|
RATIOS: |
31/12/2014 |
31/12/2013 |
|
|
QUICK RATIO |
2,31 |
|
3,03 |
|
|
|
|
CURRENT RATIO |
3,49 |
|
4,34 |
|
|
|
|
ACCOUNTS RECEIVABLE TURNOVER |
2,13 |
TIMES |
3,10 |
TIMES |
|
|
|
DAYS' SALES IN RECEIVABLES |
168,97 |
DAYS |
116,28 |
DAYS |
|
|
|
INVENTORY TURNOVER |
1,12 |
TIMES |
1,06 |
TIMES |
|
|
|
ACCOUNTS PAYABLE PERIOD |
153,35 |
DAYS |
165,46 |
DAYS |
|
|
|
RETURN ON ASSETS |
,16 |
TIMES |
,23 |
TIMES |
|
|
|
SALES TURNOVER ON NET EQUITY |
,90 |
TIMES |
,37 |
TIMES |
|
|
|
NET WORTH TIE-UP |
3,56 |
|
,67 |
|
|
|
|
INDEBTEDNESS |
4,63 |
|
,61 |
|
|
|
|
EQUITY RATIO |
17,76 |
% |
62,08 |
% |
|
|
|
WORKING CAPITAL RATIO |
249,19 |
% |
334,25 |
% |
|
|
|
GENERAL SOLVENCY |
1,22 |
|
2,64 |
|
|
|
|
RETURN ON NET EQUITY |
-55,90 |
% |
-34,44 |
% |
|
|
|
RETURN ON SALES (PROFIT MARGIN) |
-62,21 |
% |
-94,01 |
% |
|
|
|
GROSS PROFIT MARGIN |
21,97 |
% |
25,11 |
% |
|
|
|
OPERATIONAL RESULT |
-62,21 |
% |
-94,01 |
% |
|
|
|
SALES TURNOVER ON LIABILITIES |
1,70 |
TIMES |
1,85 |
TIMES |
|
|
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
EXCHANGE
RATE
|
|
|
US$ 1,00 = R$ 3,73 |
- OFFICIAL RATE ON
09/10/2015 |
|
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 FIGURES AVAILABLE SHOW AN UNBALANCED
FINANCIAL STANDING. THE LEVEL OF INDEBTEDNESS IS VERY HIGH BUT IT IS NOTED
HIGH LIQUIDITY RATIOS AND POSITIVE WORKING CAPITAL AMOUNT. IN ADDITION IT
SHOWS GROWING SALES BUT POSTED STRONG NEGATIVE RESULTS DUE TO ITS HIGH
EXPENSES. |
REAL
ESTATE
|
NOT AVAILABLE
VEHICLES
|
NOT AVAILABLE
MACHINES
|
NOT AVAILABLE
INSURANCE
|
|
NOT AVAILABLE. |
BANKING
REFERENCES
|
|
NOT AVAILABLE. |
|
|
|
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"). DATE RESEARCHED
OCTOBER 09, 2015. |
ACTIVITIES
COMMENTS
|
|
MANUFACTURE OF DRUGS FOR HUMAN USE. |
IMPORT
AND EXPORT
|
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
NOT AVAILABLE. |
MAIN
CLIENTS
|
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
NOT AVAILABLE. |
|
|
STAFF
|
|
|
|
THE COMPANY HAS: 82 EMPLOYEE(S) |
CONCEPT
AND FULFILMENT
|
|
THE SUBJECT WAS ESTABLISHED IN 1966. SO
FAR IT HAS A CLEAR TRADE HISTORY AND NORMAL PAYMENT BEHAVIOUR. 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: |
|
|
|
ATACADAO DIST. COM. IND. LTDA |
|
|
|
FRIGELAR COMERCIO E DISTRIBUIÇÃO S/A |
|
|
|
NAT GEO COM. REPRES LTDA |
|
|
PAYMENT
HISTORY
|
|
7 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 33.017,00 |
|
|
|
AMOUNT OF INVOICES PAID: 22 |
|
TOTAL OF PROMPT PAYMENTS: 100% |
|
HIGHEST INVOICE: R$ 3.649,00 |
|
HIGHEST CREDIT: R$ 3.649,00 |
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. DESPITE THE NEGATIVE RESULTS A CREDIT
LIMIT OF USD 200.000,00 MAY BE CONSIDERED. FOR HIGHER AMOUNTS IT IS
RECOMMENDED SOME CAUTION. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.02 |
|
UK Pound |
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.73.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
TRU |
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.