MIRA INFORM REPORT

 

 

Report No. :

490278

Report Date :

16.02.2018

 

 

IDENTIFICATION DETAILS

 

Name :

CELLERA FARMACEUTICA S/A

 

 

Registered Office :

Alameda Capovilla, 129 - Recreio Campestre, 13347-310 - Indaiatuba/Sp

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

13.06.1947

 

 

Legal Form :

Privately Held Corporation

 

 

Line of Business :

Subject is engaged in the manufacture and sale of pharmaceutical products

 

 

No. of Employees :

275

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

Payment Behaviour :

Slow 

 

 

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 And Address

 

CELLERA FARMACEUTICA S/A

 

ADDRESSES

 

MAIN ADDRESS:

ALAMEDA CAPOVILLA, 129 - RECREIO CAMPESTRE,

ZIP CODE/CITY:

13347-310 - INDAIATUBA/SP

 

 

PHONE:

19 3801-8900

FAX:

19 3801-8900

E-MAIL:

alexandre.marinho@cellerafarma.com.br

WEB SITE:

www.cellerafarma.com.br

 

INQUIRY DETAILS:

 

 

GIVEN NAME:

INSTITUTO TERAPEUTICO DELTA SA

REMARK:

THE INFORMED NAME IS OLD, THE CORRECT ONE IS STATED ABOVE

 

GIVEN ADDRESS:

ESTRADA DO CAPOVIUA 129 RECRE 10, CAMPESTRE INDIA TUBA SP

REMARK:

THE INFORMED ADDRESS IS INCOMPLETE, THE CORRECT ONE IS STATED ABOVE

 

BRANCHES:

 

NOT AVAILABLE.

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF PHARMACEUTICALS.

 

LEGAL FORM:

PRIVATELY HELD CORPORATION

 

 

INCORPORATION DATE:

13/06/1947

REGISTER DATE:

13/06/1947

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER (CNPJ):

33.173.097/0002-74

STATE REGISTER:

353.230.110.118

 

 

SHARE CAPITAL:

R$ 324.638.614,00

LAST REGISTER OF CAPITAL:

05/01/2018

 

 

BOARD OF DIRECTORS:

 

 

 

OMILTON VISCONDE JUNIOR

PRESIDENT DIRECTOR

ALEXANDRE EDUARDO SOUSA DA CRUZ

FINANCIAL DIRECTOR

SIMONI MACEDO BURANELLO

DIRECTOR

RODOLPHO GALDINO BRUGUGNOLLE

DIRECTOR

CAMILA TEREZA IFANGER MAFFESSONI

DIRECTOR

LACORDAIRE FERREIRA SANT ANA DE  SOUZA

DIRECTOR

CESAR MARINHO SANTOS FARIA

DIRECTOR

SERGIO DE VASCONCELOS

DIRECTOR

 

 

AUTHORIZED USE OF SIGNATURE

 

THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

VSAP24 - FUNDO DE INVESTIMENTO EM PARTICIPAÇÕES

79,0%

OMILTON VISCONDE JUNIOR

14,0%

MARCELO VISCONDE

7,0%

 

AFFILIATES / SUBSIDIARIES:

 

A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS/HAVE THE FOLLOWING UNCONFIRMED HOLDINGS:

 

 MIP BRASIL IND.  E COMERCIO DE PRODUTOS FARMACEUTICOS LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON JUNE 13, 1947 AS NSTITUTO TERAPÊUTICO DELTA LTDA.. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON APRIL 20, 2017 IT ALTERED TO INSTITUTO TERAPÊUTICO DELTA S.A. LATER IT ADOPTED THE ABOVE MENTIONED NAME AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

ON FEBRUARY 03, 2011 THE COMPANY TOOK OVER CALABAR PARTICIPAÇÕES LTDA.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

PUBLIC RECORDS INFORMATION:

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

EXECUTIVE LAWSUIT

16/08/13

27ª VARA DE SP-SÃO PAULO

 

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

399.454,97

137.994,09

239.854,33

CLIENTS

7.723.427,67

6.920.773,32

7.913.774,01

DOUBTFUL DEBTORS

-420.408,74

-499.172,50

-1.050.368,26

INTERCOMPANY CREDITS

18.856,01

111.351,22

3.360,74

INVENTORY

12.939.588,79

12.883.424,21

10.131.025,28

RECOVERABLE TAXES

78.767,79

90.189,25

306.166,04

PRE PAID EXPENSES

640.501,22

555.549,78

508.608,19

OTHER

275.751,28

1.497.401,12

1.006.230,09

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

21.655.938,99

21.697.510,49

19.058.650,42

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

RECOVERABLE TAXES

117.613,67

95.744,30

121.254,18

PRE PAID EXPENSES

574.446,47

1.015.851,59

739.356,21

OTHER CREDITS

122.776,00

324.833,29

29.108,58

 

----------------

----------------

----------------

TOTAL LONG-TERM RECEIVABLES

814.836,14

1.436.429,18

889.718,97

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

59.220.120,39

63.620.282,35

58.236.947,68

INTANGIBLE

6.497.879,27

7.432.221,64

10.131.092,52

INVESTMENTS

 

,06

25.107.116,25

 

----------------

----------------

----------------

TOTAL FIXED ASSETS

65.717.999,66

71.052.504,05

93.475.156,45

 

================

================

================

TOTAL ASSETS

88.188.774,79

94.186.443,72

113.423.525,84

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2016

31/12/2015

31/12/2014

 

 

 

 

SUPPLIERS

3.193.190,05

6.812.102,44

4.427.180,82

TRIBUTARY OBLIGATIONS

872.739,35

1.050.705,29

1.403.056,33

LABOR OBLIGATIONS

552.276,66

127.242,61

559.440,06

PROVISIONS

4.823.506,86

5.345.158,34

4.243.280,56

ACCOUNTS PAYABLE

77.059.196,44

70.976.982,99

62.559.679,93

OTHER DEBTS

15.446,00

27.513,00

 

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

86.516.355,36

84.339.704,67

73.192.637,70

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

98.790.562,61

98.790.562,61

98.790.562,61

PROFIT RESERVES

-88.943.823,56

-77.390.239,66

-45.135.308,77

PROFIT (LOSS) OF PERIOD

-8.174.319,62

-11.553.583,90

-13.424.365,70

 

----------------

----------------

----------------

TOTAL NET EQUITY

1.672.419,43

9.846.739,05

40.230.888,14

 

================

================

================

TOTAL LIABILITIES

88.188.774,79

94.186.443,72

113.423.525,84

 

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

78.376.588,60

72.216.420,87

54.764.496,00

(-) TAXES ON SALES

20.673.299,28

20.090.349,99

9.980.493,00

 

----------------

----------------

----------------

NET SALES

57.703.289,32

52.126.070,88

44.784.003,00

(-) COST OF SOLD GOODS

47.290.482,28

42.711.089,53

23.324.346,00

 

----------------

----------------

----------------

GROSS PROFIT

10.412.807,04

9.414.981,35

21.459.657,00

OPERATING REVENUE (EXPENSE)

-17.842.325,39

-20.949.946,05

-31.975.829,00

FINANCIAL REVENUE (EXPENSE)

-744.801,27

-18.619,20

-686.411,00

 

----------------

----------------

----------------

OPERATIONAL PROFIT (LOSS)

-8.174.319,62

-11.553.583,90

-11.202.583,00

 

----------------

----------------

----------------

NET PROFIT (LOSS)

-8.174.319,62

-11.553.583,90

-11.202.583,00

 

RATIOS:

31/12/2016

31/12/2015

31/12/2014

 

QUICK RATIO

,10

 

,10

 

,12

 

CURRENT RATIO

,25

 

,26

 

,26

 

ACCOUNTS RECEIVABLE TURNOVER

7,47

TIMES

7,53

TIMES

5,66

TIMES

DAYS' SALES IN RECEIVABLES

48,19

DAYS

47,80

DAYS

63,62

DAYS

INVENTORY TURNOVER

3,65

TIMES

3,32

TIMES

2,30

TIMES

ACCOUNTS PAYABLE PERIOD

24,31

DAYS

57,42

DAYS

68,33

DAYS

RETURN ON ASSETS

,65

TIMES

,55

TIMES

,39

TIMES

SALES TURNOVER ON NET EQUITY

34,50

TIMES

5,29

TIMES

1,11

TIMES

NET WORTH TIE-UP

35,41

 

6,46

 

1,45

 

INDEBTEDNESS

51,73

 

8,57

 

1,82

 

EQUITY RATIO

1,90

%

10,45

%

35,47

%

WORKING CAPITAL RATIO

-74,97

%

-74,27

%

-73,96

%

GENERAL SOLVENCY

1,02

 

1,12

 

1,55

 

RETURN ON NET EQUITY

-488,77

%

-117,33

%

-27,85

%

RETURN ON SALES (PROFIT MARGIN)

-14,17

%

-22,16

%

-25,01

%

GROSS PROFIT MARGIN

18,05

%

18,06

%

47,92

%

OPERATIONAL RESULT

-14,17

%

-22,16

%

-25,01

%

SALES TURNOVER ON LIABILITIES

,67

TIMES

,62

TIMES

,61

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 AN UNBALANCED FINANCIAL STANDING. THE LEVEL OF INDEBTEDNESS IS CONSIDERED VERY HIGH AND IT IS NOTED POOR LIQUIDITY RATIOS. DESPITE THE GROWING SALES IT POSTED STRONG LOSSES.

 

REMARK:

 

THE 2014 BALANCE SHEET WAS RESTATED.

 

REAL ESTATE:

 

NOT AVAILABLE

 

VEHICLES:

 

NOT AVAILABLE

 

MACHINES:

 

NOT AVAILABLE

 

INSURANCE:

 

NOT AVAILABLE.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO BRADESCO S/A

298-4  / 11 3296-0411

 

BANCO DO BRASIL S/A

1192-4

 

BANCO ITAÚ S/A

2000  /  11  3003-4828

 

BANCO SANTANDER 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 FEBRUARY 09, 2018.

 

 

ACTIVITIES COMMENTS

 

THE SUBJECT IS ENGAGED IN THE MANUFACTURE AND SALE OF PHARMACEUTICAL PRODUCTS.

 

NATIONAL INDUSTRY CLASSIFICATION CODE(S) (CNAE):

 

21.21-1-01 - MANUFACTURE OF ALLOPATHIC MEDICINES FOR HUMAN USE

10.99-6-99 - MANUFACTURE OF OTHER FOOD PRODUCTS N.E.C.

20.63-1-00 - MANUFACTURE OF COSMETICS, PERFUMERY AND PERSONAL HYGIENE PRODUCTS

46.45-1-01 - WHOLESALE OF INSTRUMENT AND MATERIAL FOR MEDICAL, SURGERY, HOSPITAL AND LABORATORY USE.

46.39-7-01 - WHOLESALE OF FOOD PRODUCTS IN GENERAL

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

INDIA, UNITED STATES

 

EXPORTS TO:

DOES NOT EXPORT.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

DIMESUL DISTRIBUIDORA DE MEDICAMENTOS LTDA

 

 

DISNAT DISTRIBUIDORA DE PRODUTOS NATURAIS

 

 

DISTRIBUIDORA NAWARRO LTDA

 

 

 

STAFF:

 

THE COMPANY HAS: 275 EMPLOYEES

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS AN OLD AND WELL-ESTABLISHED COMPANY. IT IS FAMILY-OWNED AND MANAGED BY WELL-EXPERIENCED STAFF. BOTH THE COMPANY AND ITS PRINCIPALS HAVE A NORMAL TRADE REPUTATION AND A CLEAR HISTORY.

 

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.

 

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.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

ALLPLAS EMBALAGENS LTDA

 

11 4612-2233

BISFARMA IND. DE EMBALAGENS LTDA

 

19 3893-3544

CHEMICAL IND. COMÉRCIO E REPRES. LTDA

 

11 5542-6647

EMEFARMA RIO REPRESENTACOES LTDA

 

 

ESKISA S/A INDÚSTRIA E COMÉRCIO

 

11 5536-0533

FORLAB-CHITEC S/A COMÉRCIO INTERNACIONAL

 

21 2221-2696

GIMBA SUPRIMENTOS DE ESCRITORIO E INFORMATICA LTDA

 

 

INDUKERN DO BRASIL QUIMICA LTDA.

 

 

LAWES MÁQUINAS E EQUIPAMENTOS LTDA

 

11 4178-3311

LIBRA ARTES GRÁFICA LTDA

 

11 6966-0949

MASE PRODUTOS QUÍMICOS E FARMACÊUTICOS LTDA

 

11 3277-2920

MEGAMED 1600 DISTRIBUIDORA DE MEDICAMENTOS, PERFUMARIA E COR

 

 

PRINT INDÚSTRIA DE ARTES GRÁFICAS LTDA

 

11 5667-2933

TECNOPHARMA IND. COM. DE EMBALAGENS LTDA

 

11 5679-6514

VALDEQUIMICA PRODUTOS QUIMICOS LTDA

 

11 3721-1077

VEDAT TAMPAS HERMÉTICAS LTDA

 

11 4704-4266

 

PAYMENT HISTORY:

 

13 SUPPLIERS REPORTED PAYMENTS:

AMOUNT OF INVOICES PAID: 62

TOTAL OF PROMPT PAYMENTS: 99,0%

TOTAL OF DELAYED PAYMENTS: 1,0%

 

HIGHEST INVOICE: R$ 19.559,00

HIGHEST CREDIT: R$ 543,00

 

 

FINAL OPINION

 

BASED ON THE OVERALL DATA AVAILABLE THE SUBJECT MAY BE CONSIDERED FOR NORMAL BUSINESS COMMITMENTS. CREDIT FACILITIES, HOWEVER, SHOULD BE GRANTED ON FULLY SECURED TERMS ONLY DUE TO THE UNFAVORABLE FINANCIAL SITUATION SHOWED IN THE BALANCE SHEETS.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.92

UK Pound

1

INR 89.55

Euro

1

INR 79.68

BRL

1

INR 19.79

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

KET

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.