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|
MIRA
INFORM REPORT
|
Report No. : |
489614 |
|
Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
LETHA INDUSTRIA E COMERCIO LTDA |
|
|
|
|
Registered Office : |
Avenida
Central, 3185 B - Bairro Afogados, 50770-740 - Recife/Pe |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
14.02.2003 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of food products |
|
|
|
|
No. of Employees : |
43 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Brazil |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
BRAZIL - ECONOMIC OVERVIEW
Brazil is the eighth-largest economy in the world, but is recovering from a recession in 2015 and 2016 that ranks as the worst in the country’s history. Falling commodity prices reduced export revenues and investment, which weakened the Brazilian real and cut tax revenues. The weaker real made existing public debt, which was largely denominated in foreign currency, more expensive. Lower tax revenues strained the government budget.
Economic reforms, proposed in 2016, aim to slow the growth of government spending and reduce barriers to foreign investment. Government spending growth helped to push public debt to 78% of GDP at the end of 2017, up from 50% in 2012. Policies to strengthen Brazil’s workforce and industrial sector, such as local content requirements, may have boosted employment at the expense of investment.
Former President Dilma ROUSSEFF was impeached and convicted in August 2016 for moving funds among government budgets; the economy has also been affected by multiple corruption scandals involving private companies and government officials. Sanctions against the firms involved — some of the largest in Brazil — has limited their business opportunities, producing a ripple effect on associated businesses and contractors. In addition, investment in these companies has declined because of the scandals.
Brazil is a member of the Common Market of the South
(Mercosur), a trade bloc including Argentina, Paraguay, Uruguay, and Venezuela.
After the Asian and Russian financial crises, Mercosur adopted a protectionist
stance to guard against exposure to the volatility of foreign markets. Brazil
and its Mercosur partners have pledged to open the bloc to more trade and
investment, but changes require approval of all five members, which makes
policy adjustments too difficult to enact.
|
Source
: CIA |
Company name
|
LETHA
INDUSTRIA E COMERCIO LTDA |
ADDRESSES |
|
MAIN ADDRESS: |
AVENIDA
CENTRAL,3185 B - BAIRRO AFOGADOS |
|
ZIP
CODE/CITY: |
50770-740
- RECIFE/PE |
|
|
|
|
PHONE: |
81
3422-7191 |
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E-MAIL: |
andre@letha.com.br |
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WEB
SITE: |
www.letha.com.br |
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INQUIRY DETAILS: |
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|
|
|
|
GIVEN ADDRESS: |
CNPJ:
05.522.145/0001-76-IE. 029933412 AVENIDA CENTRAL, 3185 B-AFOGADOS ZIP CODE:
50.770-740 RECIFE-PE |
|
CORRECT
ADDRESS: |
END.
COM CNPJ E IE. |
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|
|
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BRANCHES: |
|
|
|
|
|
ADDRESS: |
RUA
FRANÇA MOREL,173 SALA 202, EDIFÍCIO LARYSSA LOURDES - CENTRO |
|
ZIP
CODE/CITY: |
57020-560
MACEIÓ/AL |
|
|
|
|
ADDRESS: |
ESTRADA
DE PASSARINHO,1000 GALPÃO 04 - BAIRRO PASSARINHO |
|
ZIP
CODE/CITY: |
RECIFE/PE
|
|
CNPJ: |
05.522.145/0003-38 |
|
|
|
|
ADDRESS: |
RODOVIA
BR 101 - SUL KM,70 GALÃO GV, LOJA 03, UNIDADE CEASA - PE - CURADO |
|
ZIP
CODE/CITY: |
50790-900
RECIFE/PE |
LEGAL DATA |
|
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 |
AUTHORIZED USE OF SIGNATURE |
|
THE MANAGER IS AUTHORIZED TO SIGN ON BEHALF OF THE
COMPANY. |
|
SHAREHOLDERS / PARTNERS: |
|
|
|
|
|
MARANHAO
CUNHA & CIA PARTICIPAÇÕES E EMPREENDIMENTOS LTDA |
R$
297.000,00 |
|
ALEXANDRE
ALBERTO DE SOUZA BACELAR |
R$
3.000,00 |
|
AFFILIATES /
SUBSIDIARIES: |
|
|
A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT
AND/OR DIRECTORS HAS/HAVE THE FOLLOWING UNCONFIRMED HOLDINGS: |
|
|
LETHA
EXPORTAÇÃO E COMÉRCIO DE ALIMENTOS |
|
|
VALOR
CONSULTORIA E ADMINISTRAÇÃO LTDA |
|
|
MINARETE
PATRIMONIAL S/A |
|
COMPANY'S BACKGROUND |
|
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 BUSINESS ADDRESS HAS CHANGED FROM (RODOVIA BR 101
SUL S/N, KM 70, GALPAO GV 01, LOJA 04, RECIFE/PE) TO THE PRESENT REGISTERED
ONE. THE PARTNERS AND MANAGER MARANHAO CUNHA & CIA PARTICIPAÇÕES E
EMPREENDIMENTOS LTDA.: A LIMITED LIABILITY COMPANY, ENROLLED WITH THE FEDERAL
TAXPAYER´S # CNPJ 20.700.885/0001-49, WITH HEAD OFFICE AT AVENIDA CENTRAL,
3185, TÉRREO, AFOGADOS, ZIP CODE 50770-740 RECIFE/PE, REPRESENTED BY ITS
MANAGER PARTINING, MR. RODRIGO
MARANHÃO CUNHA, BRAZILIAN, SINGLE, ENTREPRENEUR, RESIDENTIAL ADDRESS AT
AVENIDA BERNARDO VIEIRA DE MELO, 3481, APTOP 801, BAIRRO DA PIEDADE, JABOATÃO
DOS GUARARAPES/PE, HOLDER OF DOCUMENTS CPF 074.792.264-03 AND RG 7.319.123
SDS/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. |
|
PUBLIC RECORDS
INFORMATION: |
|
NO DETRIMENTAL FILES WERE FOUND. |
FINANCIAL INFORMATION |
|
GENERAL BALANCE SHEETS AS OF 31/12/2016, 31/12/2015
AND 31/12/2014. |
|
(
FIGURES ARE IN REAIS ). |
|
ASSETS |
|
|
|
|
CURRENT: |
31/12/2016 |
31/12/2015 |
31/12/2014 |
|
|
|
|
|
|
CASH
AND BANKS |
398.992,53 |
403.003,35 |
342.168,72 |
|
INVESTMENTS |
103.448,42 |
236.653,97 |
200.876,55 |
|
CLIENTS |
4.106.990,27 |
3.491.560,34 |
4.057.231,32 |
|
INVENTORY |
2.525.009,13 |
2.665.115,38 |
2.742.908,65 |
|
RECOVERABLE
TAXES |
794.076,24 |
794.076,24 |
99.777,41 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
CURRENT ASSETS |
7.928.516,59 |
7.590.409,28 |
7.442.962,65 |
|
LONG-TERM RECEIVABLES: |
|
|
|
|
|
|
|
|
|
INTERCOMPANY
CREDITS |
372.673,24 |
272.673,24 |
251.202,61 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
LONG-TERM RECEIVABLES |
372.673,24 |
272.673,24 |
251.202,61 |
|
FIXED ASSETS: |
|
|
|
|
|
|
|
|
|
FIXED
ASSETS |
986.541,20 |
944.207,53 |
995.327,42 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
FIXED ASSETS |
986.541,20 |
944.207,53 |
995.327,42 |
|
|
================ |
================ |
================ |
|
TOTAL
ASSETS |
9.287.731,03 |
8.807.290,05 |
8.689.492,68 |
|
LIABILITIES: |
|
|
|
|
CURRENT: |
31/12/2016 |
31/12/2015 |
31/12/2014 |
|
|
|
|
|
|
SUPPLIERS |
222.539,98 |
189.998,81 |
101.333,87 |
|
FINANCING |
2.053.082,29 |
2.117.022,19 |
1.396.833,62 |
|
TAX
LIABILITIES |
359.721,04 |
257.571,74 |
294.328,76 |
|
PROVISIONS |
59.333,86 |
62.643,50 |
52.111,88 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
CURRENT LIABILITIES |
2.694.677,17 |
2.627.236,24 |
1.844.608,13 |
|
LONG TERM LIABILITIES: |
|
|
|
|
|
|
|
|
|
LOANS
AND FINANCING |
318.096,55 |
183.763,28 |
344.268,52 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
LONG TERM LIABILITIES |
318.096,55 |
183.763,28 |
344.268,52 |
|
NET EQUITY: |
|
|
|
|
|
|
|
|
|
SHARE
CAPITAL |
300.000,00 |
300.000,00 |
300.000,00 |
|
PROFIT
RESERVES |
5.974.957,31 |
5.696.290,53 |
6.200.616,03 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
NET EQUITY |
6.274.957,31 |
5.996.290,53 |
6.500.616,03 |
|
|
================ |
================ |
================ |
|
TOTAL
LIABILITIES |
9.287.731,03 |
8.807.290,05 |
8.689.492,68 |
|
PROFIT AND LOSS ACCOUNTS AS OF 31/12/2016,
31/12/2015 AND 31/12/2014. |
|
(
FIGURES ARE IN REAIS ). |
|
|
31/12/2016 |
31/12/2015 |
31/12/2014 |
|
|
|
|
|
|
GROSS
SALES |
54.021.445,18 |
52.869.458,06 |
46.612.754,08 |
|
(-)
TAXES ON SALES |
9.529.382,93 |
8.963.638,41 |
7.933.490,74 |
|
|
---------------- |
---------------- |
---------------- |
|
NET
SALES |
44.492.062,25 |
43.905.819,65 |
38.679.263,34 |
|
(-)
COST OF SOLD GOODS |
37.766.392,71 |
36.939.890,35 |
31.526.692,65 |
|
|
---------------- |
---------------- |
---------------- |
|
GROSS
PROFIT |
6.725.669,54 |
6.965.929,30 |
7.152.570,69 |
|
OPERATING
REVENUE (EXPENSE) |
-3.889.650,33 |
-3.834.948,32 |
-3.943.021,16 |
|
|
---------------- |
---------------- |
---------------- |
|
OPERATIONAL
PROFIT (LOSS) |
2.836.019,21 |
3.130.980,98 |
3.209.549,53 |
|
CONTRIBUTION/INCOME
TAX |
-1.267.352,43 |
-1.115.677,08 |
-1.067.246,83 |
|
|
---------------- |
---------------- |
---------------- |
|
NET
PROFIT (LOSS) |
1.568.666,78 |
2.015.303,90 |
2.142.302,70 |
|
MONTHLY SALES |
|||
|
|
2017 |
|
|
|
|
--------------------- |
|
|
|
JANUARY
|
R$
5.192.351,81 |
|
|
|
FEBRUARY
|
R$
4.095.058,18 |
|
|
|
MARCH
|
R$
5.732.326,65 |
|
|
|
APRIL
|
R$
4.934.867,25 |
|
|
|
MAY
|
R$
6.312.139,77 |
|
|
|
JUNE
|
R$
6.126.384,43 |
|
|
|
JULY
|
|
|
|
|
AUGUST
|
|
|
|
|
SEPTEMBER
|
|
|
|
|
OCTOBER
|
|
|
|
|
NOVEMBER
|
|
|
|
|
DECEMBER
|
|
|
|
|
TOTAL
|
R$
32.393.128,09 |
|
|
|
RATIOS: |
31/12/2016 |
31/12/2015 |
31/12/2014 |
|
QUICK
RATIO |
2,01 |
|
1,87 |
|
2,55 |
|
|
CURRENT
RATIO |
2,94 |
|
2,89 |
|
4,04 |
|
|
ACCOUNTS
RECEIVABLE TURNOVER |
10,83 |
TIMES |
12,57 |
TIMES |
9,53 |
TIMES |
|
DAYS'
SALES IN RECEIVABLES |
33,23 |
DAYS |
28,63 |
DAYS |
37,76 |
DAYS |
|
INVENTORY
TURNOVER |
14,96 |
TIMES |
13,86 |
TIMES |
11,49 |
TIMES |
|
ACCOUNTS
PAYABLE PERIOD |
2,12 |
DAYS |
1,85 |
DAYS |
1,16 |
DAYS |
|
RETURN
ON ASSETS |
4,79 |
TIMES |
4,99 |
TIMES |
4,45 |
TIMES |
|
SALES TURNOVER ON NET EQUITY |
7,09 |
TIMES |
7,32 |
TIMES |
5,95 |
TIMES |
|
NET
WORTH TIE-UP |
,16 |
|
,16 |
|
,15 |
|
|
INDEBTEDNESS |
,48 |
|
,47 |
|
,34 |
|
|
EQUITY
RATIO |
67,56 |
% |
68,08 |
% |
74,81 |
% |
|
WORKING
CAPITAL RATIO |
194,23 |
% |
188,91 |
% |
303,50 |
% |
|
GENERAL
SOLVENCY |
3,08 |
|
3,13 |
|
3,97 |
|
|
RETURN
ON NET EQUITY |
25,00 |
% |
33,61 |
% |
32,96 |
% |
|
RETURN ON SALES (PROFIT MARGIN) |
3,53 |
% |
4,59 |
% |
5,54 |
% |
|
GROSS
PROFIT MARGIN |
15,12 |
% |
15,87 |
% |
18,49 |
% |
|
OPERATIONAL
RESULT |
6,37 |
% |
7,13 |
% |
8,30 |
% |
|
SALES
TURNOVER ON LIABILITIES |
16,51 |
TIMES |
16,71 |
TIMES |
20,97 |
TIMES |
|
FOREIGN
CURRENCY ON ASSETS |
|
|
|
|
|
|
|
FOREIGN
CURRENCY ON LIABILITIES |
|
|
|
|
|
|
|
COMMENTS ON
THE FINANCIAL INFORMATION: |
|
FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL
RATIOS. THE FIGURES AVAILABLE SHOW A GOOD FINANCIAL
STANDING. IT SHOWS GOOD LIQUIDITY RATIOS AND POSITIVE WORKING CAPITAL, AS
WELL AS LOW LEVEL OF INDEBTEDNESS. IN ADDITION IT IS NOTED GROWING SALES AND
POSTED PROFIT. |
|
REAL ESTATE: |
NOT AVAILABLE
|
VEHICLES: |
NOT AVAILABLE
|
MACHINES: |
NOT AVAILABLE
INSURANCE |
|
NOT
AVAILABLE. |
BANKING REFERENCES |
|
|
BRANCH/PHONE: |
|
|
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"). |
ACTIVITIES COMMENTS |
|
THE SUBJECT IS ENGAGED IN THE WHOLESALE OF FOOD
PRODUCTS. MAIN PRODUCT: CANADIAN CANARY SEEDS. |
|
IMPORT AND EXPORT: |
IMPORTS FROM:
|
CANADA,
ARGENTINA, CHILE, CHINA, INDIA AND SPAIN. |
EXPORTS TO:
|
GERMANY
AND HOLLAND. |
|
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: 43 EMPLOYEE(S) |
CONCEPT AND FULFILMENT |
|
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. |
|
FOREIGN SUPPLIERS: |
|
PHONE: |
|
FINORA |
|
6045975060 |
|
PROVALCID
CORP. |
CANADA |
|
|
ROY
LEGUMES |
|
2047584001 |
|
WALKER
SUDS |
|
3068733777 |
|
WALTER
SEES LTD |
CANADA |
|
|
WESTERN
GRAIN |
CANADA |
|
|
PAYMENT HISTORY: |
|
2
SUPPLIERS REPORTED PAYMENTS: |
|
AMOUNT
OF INVOICES PAID: 2 |
|
TOTAL
OF PROMPT PAYMENTS: 72,8% |
|
TOTAL
OF DELAYED PAYMENTS: 27,2% |
|
|
|
HIGHEST
INVOICE: R$ 388,00 |
|
HIGHEST
CREDIT: R$ 388,00 |
FINAL OPINION |
|
THE SUBJECT IS A FAMILY-OWNED COMPANY IN BUSINESS
FOR SEVERAL YEARS. UP TO DATE IT HAS GOOD 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 |
INR 64.27 |
|
|
1 |
INR 89.72 |
|
Euro |
1 |
INR 79.52 |
|
BRL |
1 |
INR 19.84 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.