|
Report No. : |
340568 |
|
Report Date : |
11.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
BRAINFARMA INDUSTRIA QUIMICA E FARMACÊUTICA S/A |
|
|
|
|
Registered Office : |
Estrada Dos Bandeirantes, 3191 Parte I – Jacarepaguá 22775-111 - Rio De Janeiro/RJ |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
24.06.2002 |
|
|
|
|
Legal Form : |
Privately Held Corporation |
|
|
|
|
Line of Business : |
Manufacture of Pharmaceutical Products. |
|
|
|
|
No. of Employees : |
Not Available |
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 – 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. Unemployment is at historic lows and Brazil's traditionally high level
of income inequality has declined for each of the last 15 years. Rising
inflation led the authorities to take measures to cool the economy in 2011; these
actions and the deteriorating international economic situation slowed growth in
2011-14. Brazil’s fiscal and current account balances have eroded during the
past three years as the government attempted to boost economic growth through
targeted tax cuts for industry and incentives to spur household consumption.
President Dilma ROUSSEFF has indicated that her government in her second term
will pursue more austere fiscal policies to reduce these imbalances and
preserve the country’s credit rating.
|
Source
: CIA |
BRAINFARMA
INDUSTRIA QUIMICA E FARMACÊUTICA S/A
|
MAIN ADDRESS: |
ESTRADA DOS BANDEIRANTES,3191 PARTE I - JACAREPAGUÁ |
|
ZIP CODE/CITY: |
22775-111 - RIO DE JANEIRO/RJ |
|
|
|
|
PHONE: |
21 2126-3000 |
|
FAX: |
21 2126-3000 |
|
E-MAIL: |
joao.malecaesk@hipermarcas.com.br |
|
WEB SITE: |
www.brainfarma.com.br |
|
BRANCHES: |
|
|
|
|
|
ADDRESS: |
V PR-1, S/Nº,0
QUADRA 2-A MODULO 4 - DISTRITO AGROINDUSTRIAL DE ANAPOLIS |
|
ZIP CODE/CITY: |
75132-020
ANAPOLIS/GO |
|
PHONE: |
62 3623-2209 |
|
MAIN ACTIVITIES: |
|
MANUFACTURE OF PHARMACEUTICAL PRODUCTS |
|
LEGAL FORM: |
PRIVATELY
HELD CORPORATION |
|
|
|
|
INCORPORATION DATE: |
24/06/2002 |
|
REGISTER DATE: |
24/06/2002 |
|
BALANCE SHEET FILING DATE: |
31/12 |
|
TAX CONTRIBUTOR NUMBER(CNPJ): |
05.161.069/0001-10 |
|
STATE REGISTER: |
77.462.406 |
|
|
|
|
SHARE CAPITAL: |
R$
476.021.191,95 |
|
LAST REGISTER OF CAPITAL: |
13/06/2014 |
|
BOARD OF
DIRECTORS: |
|
|
|
|
|
SILVIO TADEU AGOSTINHO |
DIRECTOR |
|
BRENO TOLEDO PIRES DE OLIVEIRA |
DIRECTOR |
|
CARLOS ROBERTO SCORSI |
DIRECTOR |
|
AMARAI FURTADO DA SILVA |
DIRECTOR |
|
ARMANDO LUIS FERREIRA |
DIRECTOR |
|
THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
|
SHAREHOLDERS /
PARTNERS: |
|
|
|
|
|
HYPERMARCAS S/A |
100% |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
A SCAN THROUGH
OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS/HAVE THE FOLLOWING
UNCONFIRMED HOLDINGS: |
|
|
MANTECORP INDUSTRIA QUIMICA E FARMACEUTICA S/A |
|
|
I P H C INDUSTRIA DE PRODUTOS DE HIGIENE E COSMETICOS LTDA |
|
|
COSMED INDUSTRIA DE COSMETICOS E MEDICAMENTOS S/A |
|
|
MY AGENCIA DE PROPAGANDA LTDA |
|
|
EAAPAR ADMINISTRAÇÃO E PARTICIPAÇÕES LTDA |
|
|
FAZENDA TANGURO AGROPECUARIA S/A |
|
|
YORK S/A INDUSTRIA E COMERCIO |
|
|
THE SUBJECT WAS ESTABLISHED ON JUNE 24, 2002 AS BRAINFARMA INDUSTRIA
QUIMICA E FARMACEUTICA LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON APRIL
13, 2011 IT WAS TRANSFORMED INTO STOCK COMPANY UNDER THE ABOVE MENTIONED
NAME. ACCORDING TO STOCKHOLDERS' GENERAL MEETING HELD ON APRIL 29, 2011, THE
PARTIAL SPLIT-OFF OF HYPERMARCAS S.A. WAS APPROVED. THE SPUN OFF NET ASSETS
WERE MERGED INTO COSMED INDÚSTRIA DE COSMÉTICOS E MEDICAMENTOS S.A. AND
BRAINFARMA INDÚSTRIA QUÍMICA E FARMACÊUTICA S.A. CONCURRENTLY, HYPERMARCAS
S/A ALSO MERGED THE SHARES ISSUED BY COSMED AND BRAINFARMA SO THAT THESE
COMPANIES COULD REMAIN WHOLLY-OWNED SUBSIDIARIES OF HYPERMARCAS S/A, AND THE
NUMBER OF SHARES AND THE SHARE CAPITAL OF HYPERMARCAS REMAINED THE SAME AS
THOSE PRIOR TO THE SPLIT-OFF. IN APRIL 2011 SUBJECT TOOK OVER THE SPUN-OFF PART OF THE NET EQUITY OF
LABORATORIO NEO QUIMICA COMERCIO E INDUSTRIA S/A. TRADE NAME: BRAINFARMA FURTHER DETAILS ARE SO FAR NOT KNOWN. |
|
PUBLIC
INFORMATION: |
|
NO DETRIMENTAL FILES WERE FOUND. |
|
GENERAL BALANCE SHEETS AS OF 31/12/2014, 31/12/2013 AND 31/12/2012. |
|
( FIGURES ARE IN THOUSANDS OF REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
|
|
|
|
|
CASH AND CASH EQUIVALENTS |
103.030 |
110.874 |
232.256 |
|
CLIENTS |
79.187 |
64.857 |
36.294 |
|
INVENTORY |
211.451 |
152.731 |
89.666 |
|
RECOVERABLE TAXES |
994 |
7.081 |
|
|
OTHER CREDITS |
6.432 |
37.071 |
4.176 |
|
CREDIT WITH RELATED PARTIES |
49.466 |
45.993 |
|
|
DERIVATIVES OPERATIONS |
6.459 |
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
457.019 |
418.607 |
362.392 |
|
LONG-TERM
RECEIVABLES: |
|
|
|
|
|
|
|
|
|
INTERCOMPANY CREDITS |
1.039 |
1.199 |
949 |
|
RECOVERABLE TAXES |
11.304 |
8.670 |
6.386 |
|
OTHER CREDITS |
1.622 |
1.374 |
1.366 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG-TERM RECEIVABLES |
13.965 |
11.243 |
8.701 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
FIXED ASSETS |
439.718 |
389.083 |
349.492 |
|
INTANGIBLE |
68.970 |
70.312 |
63.563 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL FIXED ASSETS |
508.688 |
459.395 |
413.055 |
|
|
================ |
================ |
================ |
|
TOTAL ASSETS |
979.672 |
889.245 |
784.148 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
|
|
|
|
|
SUPPLIERS |
187.053 |
152.462 |
95.141 |
|
LOANS AND FINANCING |
29.415 |
21.361 |
22.458 |
|
SOCIAL / LABOR OBLIGATIONS |
33.784 |
23.037 |
13.756 |
|
ACCOUNTS PAYABLE |
12.031 |
13.877 |
7.860 |
|
TRIBUTARY OBLIGATIONS |
9.016 |
9.393 |
8.361 |
|
INCOME TAX/SOCIAL CONTRIBUTION |
5.693 |
3.015 |
|
|
DIVIDENDS |
20.205 |
7.697 |
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
297.197 |
230.842 |
147.576 |
|
LONG TERM
LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS AND FINANCING |
117.287 |
72.592 |
82.817 |
|
RELATED COMPANIES |
61 |
164 |
11.354 |
|
DEFERRED TAXES |
33.917 |
33.933 |
23.693 |
|
OTHER |
787 |
4.416 |
4.527 |
|
PROVISION FOR CONTINGENCIES |
2.166 |
748 |
61 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
154.218 |
111.853 |
122.452 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE CAPITAL |
476.021 |
488.961 |
487.931 |
|
CAPITAL RESERVES |
4.363 |
3.251 |
2.139 |
|
OTHER COMPREHENSIVE INCOME |
29.644 |
29.628 |
29.644 |
|
PROFIT RESERVES |
3.639 |
1.620 |
|
|
ACCRUED PROFIT (LOSS) |
14.590 |
23.090 |
-5.594 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET EQUITY |
528.257 |
546.550 |
514.120 |
|
|
================ |
================ |
================ |
|
TOTAL LIABILITIES |
979.672 |
889.245 |
784.148 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2014, 31/12/2013 AND 31/12/2012. |
|
(FIGURES ARE IN THOUSANDS OF REAIS ). |
|
|
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
|
|
|
|
|
NET SALES |
659.612 |
517.235 |
424.818 |
|
(-) COST OF SOLD GOODS |
524.536 |
430.243 |
360.201 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS PROFIT |
135.076 |
86.992 |
64.617 |
|
OPERATING REVENUE (EXPENSE) |
-77.367 |
-50.651 |
-67.885 |
|
FINANCIAL REVENUE(EXPENSE) |
-6.751 |
18.207 |
-2.695 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL PROFIT (LOSS) |
50.958 |
54.548 |
-5.963 |
|
CONTRIBUTION/INCOME TAX |
-6.272 |
-16.547 |
369 |
|
|
---------------- |
---------------- |
---------------- |
|
NET PROFIT (LOSS) |
44.686 |
38.001 |
-5.594 |
|
RATIOS: |
31/12/2014 |
31/12/2013 |
31/12/2012 |
|
QUICK RATIO |
,83 |
|
1,15 |
|
1,85 |
|
|
CURRENT RATIO |
1,54 |
|
1,81 |
|
2,46 |
|
|
ACCOUNTS RECEIVABLE TURNOVER |
8,33 |
TIMES |
7,98 |
TIMES |
11,70 |
TIMES |
|
DAYS' SALES IN RECEIVABLES |
43,22 |
DAYS |
45,14 |
DAYS |
30,76 |
DAYS |
|
INVENTORY TURNOVER |
2,48 |
TIMES |
2,82 |
TIMES |
4,02 |
TIMES |
|
ACCOUNTS PAYABLE PERIOD |
128,38 |
DAYS |
127,57 |
DAYS |
95,09 |
DAYS |
|
RETURN ON ASSETS |
,67 |
TIMES |
,58 |
TIMES |
,54 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
1,25 |
TIMES |
,95 |
TIMES |
,83 |
TIMES |
|
NET WORTH TIE-UP |
,83 |
|
,71 |
|
,68 |
|
|
INDEBTEDNESS |
,85 |
|
,63 |
|
,53 |
|
|
EQUITY RATIO |
53,92 |
% |
61,46 |
% |
65,56 |
% |
|
WORKING CAPITAL RATIO |
53,78 |
% |
81,34 |
% |
145,56 |
% |
|
GENERAL SOLVENCY |
2,17 |
|
2,59 |
|
2,90 |
|
|
RETURN ON NET EQUITY |
8,46 |
% |
6,95 |
% |
-1,09 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
6,77 |
% |
7,35 |
% |
-1,32 |
% |
|
GROSS PROFIT MARGIN |
20,48 |
% |
16,82 |
% |
15,21 |
% |
|
OPERATIONAL RESULT |
7,73 |
% |
10,55 |
% |
-1,40 |
% |
|
SALES TURNOVER ON LIABILITIES |
2,22 |
TIMES |
2,24 |
TIMES |
2,88 |
TIMES |
|
FOREIGN CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
EXCHANGE RATE: |
|
|
US$ 1,00 = R$ 3,02 |
- OFFICIAL RATE ON 16/04/2015 |
|
US$ 1,00 = R$ 2,65 |
- OFFICIAL RATE ON 31/12/2014 |
|
US$ 1,00 = R$ 2,34 |
- OFFICIAL RATE ON 31/12/2013 |
|
US$ 1,00 = R$ 2,04 |
- OFFICIAL RATE ON 31/12/2012 |
|
COMMENTS ON THE
FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS THE FIGURES AVAILABLE SHOW A GOOD FINANCIAL STANDING. IT HAS GOOD LIQUIDITY
RATIOS AND GOOD WORKING CAPITAL, AS WELL AS ACCEPTABLE LEVEL OF INDEBTEDNESS.
IT ALSO SHOWS GROWING SALES AND POSTED PROFIT. IT IS WORTH COMMENTING THAT THE SUBJECT IS CONTROLLED BY THE
HYPERMARCAS GROUP, WHICH HAS VERY HIGH FINANCIAL POWER THUS MAY GIVE THE
SUBJECT THE NECESSARY FINANCIAL POWER. |
|
REAL ESTATE: |
OWNED PREMISES ARE VALUED AT R$ 162.994.000,00
|
VEHICLES: |
OWNED VEHICLES ARE VALUED AT R$ 270.000,00
|
MACHINES: |
OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 221.296.000,00
|
NOT AVAILABLE. |
|
NOT AVIALABLE |
|
|
|
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 MANUFACTURE OF FARMACEUTICALS. |
|
IMPORT AND
EXPORT: |
IMPORTS FROM:
|
NOT AVAILABLE. |
EXPORTS TO:
|
NOT AVAILABLE. |
|
MAIN CLIENTS: |
|
|
|
|
|
|
|
DOMESTIC
CLIENTS: |
|
|
|
*PRINCIPAIS DISTRIBUIDORES |
|
|
|
ALTO MIUDEZAS |
|
|
|
AMERICAN FARMA |
|
|
|
ANB |
|
|
|
ATHOS |
|
|
|
AUDIFAR |
|
|
|
CENTRO AMERICA |
|
|
|
DROGUISTAS |
|
|
|
FARMED |
|
|
|
IMIFARMA |
|
|
|
JORGE BATISTA |
|
|
|
NAZÁRIA |
|
|
|
PANARELLO |
|
|
|
RECOL |
|
|
|
SANTA CRUZ |
|
|
|
SB LOG |
|
|
|
SERVIMED |
|
|
|
SUDESTEFARMA |
|
|
|
TAPAJÓS |
|
|
|
STAFF: |
|
|
|
NOT AVAILABLE |
|
THE SUBJECT IS A WELL-ESTABLISHED SUBSIDIARY OF THE HYPERMARCAS GROUP,
OPERATING SINCE 2002. SO FAR IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT
BEHAVIOR. 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. |
|
MAIN SUPPLIERS: |
|
|
|
|
|
|
|
DOMESTIC
SUPPLIERS: |
|
|
|
NOT AVIALABLE |
|
|
|
PAYMENT HISTORY: |
|
18 SUPPLIERS REPORTED PAYMENTS: |
|
TOTAL AMOUNT: R$ 2.150.484,00 |
|
|
|
AMOUNT OF INVOICES PAID: 176 |
|
TOTAL OF PROMPT PAYMENTS: 92,6% |
|
TOTAL OF DELAYED PAYMENTS: 7,4% |
|
|
|
HIGHEST INVOICE: R$ 107.728,00 |
|
HIGHEST CREDIT: R$ 107.728,00 |
|
|
|
OUTSTANDING
INVOICES DUE WITHIN THE NEXT 91 DAYS: |
|
--------------------------- |
SUPPLIERS: |
INVOICES: |
TOTAL AMOUNT: |
|
DUE WITHIN 30 DAYS |
2 |
13 |
R$ 29.680,84 |
|
DUE WITHIN 60 DAYS |
2 |
25 |
R$ 43.273,25 |
|
DUE WITHIN 90 DAYS |
2 |
18 |
R$ 52.077,47 |
|
DUE WITHIN 91 DAYS |
1 |
18 |
R$ 46.575,60 |
|
THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS SINCE 2002. IT
HAS JUST BEEN ACQUIRED BY HYPERMARCAS GROUP, WHICH HAS VERY HIGH FINANCIAL
POWER, THUS MAY GIVE THE SUBJECT THE NECESSARY FINANCIAL SUPPORT WHENEVER REQUIRED.
UP TO DATE IT HAS A SATISFACTORY FINANCIAL STANDING, A CLEAR TRADE HISTORY
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. HIGHER AMOUNTS CAN BE GRANTED DEPENDING ON THE IMPORTANCE OF THE
ACTIVITIES BEING ESTABLISHED WITH THE SUBJECT. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.58 |
|
|
1 |
Rs.102.29 |
|
Euro |
1 |
Rs.74.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
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.