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MIRA INFORM REPORT
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Report No. : |
483785 |
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Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
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Name : |
T & T DISTRIBUIDORA DE ALIMENTOS LTDA. |
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Registered Office : |
Rua Benjamin De Oliveira,463 / 467 - BRÁS 03006-020 - São Paulo/Sp |
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Country : |
Brazil |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
18.01.1999 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distribution of food products. |
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No. of Employees : |
11 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Brazil |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 70% of GDP at the end of 2016 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.
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Source
: CIA |
Company
name and address
T & T DISTRIBUIDORA DE
ALIMENTOS LTDA.
ADDRESSES:
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MAIN ADDRESS:
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RUA BENJAMIN DE OLIVEIRA,463 / 467 - BRÁS |
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ZIP CODE/CITY: |
03006-020 - SÃO PAULO/SP |
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PHONE: |
11 3227-0955 |
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FAX: |
11 3227-9444 |
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E-MAIL: |
maria@tetcereais.com.br |
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WEB SITE: |
www.tetcereais.com.br |
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INQUIRY
DETAILS: |
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GIVEN
ADDRESS: |
RUA BENJAMIN DE OLIVEIRA,467-BRAS SÃO PAULO |
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CORRECT ADDRESS: |
THE COMPLETE ADDRESS IS STATED AT THE
CAPTION. |
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BRANCHES: |
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ADDRESS: |
RUA SYLVIO ZAGNOLLO,195 - CENTRO |
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ZIP CODE/CITY: |
18280-629 TATUÍ/SP |
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CNPJ: |
02.957.598/0005-60 |
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ADDRESS: |
RUA MONSENHOR ANDRADE,601 - BRÁS |
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ZIP CODE/CITY: |
03008-000 SÃO PAULO/SP |
LEGAL
DATA
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MAIN
ACTIVITIES: |
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DISTRIBUTION OF FOOD PRODUCTS. |
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
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INCORPORATION DATE: |
18/01/1999 |
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REGISTER DATE: |
18/01/1999 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
02.957.598/0001-37 |
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STATE REGISTER: |
115.449.817.118 |
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SHARE CAPITAL: |
R$ 500.000,00 |
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LAST REGISTER OF CAPITAL: |
20/09/2012 |
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BOARD OF
DIRECTORS: |
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JOSÉ TARCIZO APARECIDO THOMAZ |
MANAGING PARTNER |
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ANTONIO SERGIO SIMONE |
MANAGING PARTNER |
AUTHORIZED
USE OF SIGNATURE
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THE MANAGING PARTNERS ARE AUTHORIZED TO
SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS
/ PARTNERS: |
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JOSÉ TARCIZO APARECIDO THOMAZ |
R$ 250.000,00 |
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ANTONIO SERGIO SIMONE |
R$ 250.000,00 |
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AFFILIATES /
SUBSIDIARIES: |
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NOT AVAILABLE |
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COMPANY'S
BACKGROUND
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THE SUBJECT WAS ESTABLISHED IN JANUARY
18, 1999 TO BE ENGAGED IN THE SAID LINE OF BUSINESS AND UP TO DATE IT IS
STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN. TRADE NAME "T & T CEREAIS" PARTNER: ANTONIO SERGIO SIMONE: BRAZILIAN,
ENTREPRENEUR, HOLDER OF DOCUMENTS RG # 18.453.885 AND CPF # 094.855.248-46,
RESIDENTIAL ADDRESS AT, RUA MANOEL VIEIRA SOUZA, 307, MOOCA, ZIP CODE
03124-110, SÃO PAULO/SP; JOSÉ TARCIZO APARECIDO THOMAZ, BRAZILIAN, ENTREPRENEUR, HOLDER
OF DOCUMENTS, RG # 18.325.358 AND CPF # 072.920.458-80, RESIDENTIAL ADDRESS
AT, RUA LYDIA FERRARI MAGNOLI, 250, 3º ANDAR, APTO. 31, VILA PRUDENTE, ZIP
CODE 03227-090, SÃO PAULO/SP. FURTHER DETAILS ARE SO FAR NOT KNOWN. REMARKS: -------- WHEN CONTACTING THE SUBJECT WE
INTERVIEWED MS. MARIA ALMEIDA, FINANCIAL DEPARTMENT, WHO INFORMED THAT WOULD
NOT DISCLOSE ANY KIND OF INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS
DISCLOSED. IF IT IS POSSIBLE TO DISCLOSE THE NAME
OF THE INTERESTED SUPPLIER OF THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY
TO OBTAIN FURTHER INFORMATION. THE DATA CONTAINED HEREIN WERE OBTAINED
FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS
AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED. |
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PUBLIC
RECORDS INFORMATION: |
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NO DETRIMENTAL FILES WERE FOUND. |
FINANCIAL
INFORMATION
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GENERAL BALANCE SHEETS AS OF 31/12/2014. |
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( FIGURES ARE IN REAIS ). |
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ASSETS |
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CURRENT: |
31/12/2014 |
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CASH AND BANKS |
281.024,08 |
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CLIENTS |
792.916,43 |
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RECOVERABLE TAXES |
3.846,42 |
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INVENTORY |
3.814.331,58 |
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ADVANCES |
94.535,95 |
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---------------- |
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TOTAL CURRENT ASSETS |
4.986.654,46 |
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FIXED ASSETS:
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FIXED ASSETS |
95.497,58 |
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---------------- |
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TOTAL FIXED ASSETS |
95.497,58 |
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================ |
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TOTAL ASSETS |
5.082.152,04 |
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LIABILITIES: |
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CURRENT: |
31/12/2014 |
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SUPPLIERS |
3.431.879,11 |
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TRIBUTARY OBLIGATIONS |
3.460,22 |
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SOCIAL / LABOR OBLIGATIONS |
27.648,62 |
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---------------- |
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TOTAL CURRENT LIABILITIES |
3.462.987,95 |
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NET EQUITY: |
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SHARE CAPITAL |
500.000,00 |
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ACCRUED PROFIT (LOSS) |
1.119.164,09 |
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---------------- |
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TOTAL NET EQUITY |
1.619.164,09 |
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================ |
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TOTAL LIABILITIES |
5.082.152,04 |
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PROFIT AND LOSS ACCOUNTS AS OF
31/12/2014. |
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( FIGURES ARE IN REAIS ). |
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31/12/2014 |
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GROSS SALES |
9.529.319,45 |
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(-) TAXES ON SALES |
1.040.972,90 |
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---------------- |
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NET SALES |
8.488.346,55 |
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(-) COST OF SOLD GOODS |
6.305.840,15 |
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---------------- |
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GROSS PROFIT |
2.182.506,40 |
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OPERATING REVENUE (EXPENSE) |
-1.975.786,58 |
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FINANCIAL REVENUE(EXPENSE) |
-247.798,09 |
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---------------- |
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OPERATIONAL PROFIT (LOSS) |
-41.078,27 |
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CONTRIBUTION/INCOME TAX |
-12.483,58 |
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---------------- |
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NET PROFIT (LOSS) |
-53.561,85 |
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MONTHLY SALES |
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2015 |
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--------------------- |
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JANUARY |
R$ 790.817,94 |
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FEBRUARY |
R$ 839.902,25 |
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MARCH |
R$ 967.885,73 |
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APRIL |
R$ 1.058.113,23 |
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MAY |
R$ 928.403,14 |
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JUNE |
R$ 771.203,08 |
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JULY |
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AUGUST |
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SEPTEMBER |
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OCTOBER |
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NOVEMBER |
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DECEMBER |
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TOTAL |
R$ 5.356.325,37 |
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RATIOS: |
31/12/2014 |
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QUICK RATIO |
,34 |
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CURRENT RATIO |
1,44 |
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ACCOUNTS RECEIVABLE TURNOVER |
10,71 |
TIMES |
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DAYS' SALES IN RECEIVABLES |
33,63 |
DAYS |
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INVENTORY TURNOVER |
1,65 |
TIMES |
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ACCOUNTS PAYABLE PERIOD |
195,93 |
DAYS |
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RETURN ON ASSETS |
1,67 |
TIMES |
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SALES TURNOVER ON NET EQUITY |
5,24 |
TIMES |
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NET WORTH TIE-UP |
,06 |
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INDEBTEDNESS |
2,14 |
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EQUITY RATIO |
31,86 |
% |
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WORKING CAPITAL RATIO |
44,00 |
% |
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GENERAL SOLVENCY |
1,47 |
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RETURN ON NET EQUITY |
-3,31 |
% |
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RETURN ON SALES (PROFIT MARGIN) |
-,63 |
% |
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GROSS PROFIT MARGIN |
25,71 |
% |
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OPERATIONAL RESULT |
-,48 |
% |
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SALES TURNOVER ON LIABILITIES |
2,45 |
TIMES |
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FOREIGN CURRENCY ON ASSETS |
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FOREIGN CURRENCY ON LIABILITIES |
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COMMENTS
ON THE FINANCIAL INFORMATION: |
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FOLLOWS ATTACHED WORKSHEET WITH MAIN
FINANCIAL RATIOS. THE FIGURES AVAILABLE SHOW A DELICATE
FINANCIAL STANDING. THE LEVEL OF INDEBTEDNESS IS SOMEHOW HIGH BUT IT IS NOTED
GOOD CURRENT RATIO AND POSITIVE WORKING CAPITAL, CONSIDERED SUFFICIENT TO
COVER THE SHORT TERM DEBTS. FURTHER, IT SHOWS GOOD SALES VOLUME AND POSTED PROFIT. IN THE ABSENCE OF UPDATED FINANCIAL
INFORMATION NO COMMENTS CAN BE MADE ABOUT THE SUBJECT’S CURRENT FINANCIAL
STANDING. |
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REAL ESTATE: |
NOT AVAILABLE
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VEHICLES: |
NOT AVAILABLE
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MACHINES: |
NOT AVAILABLE
INSURANCE
NOT AVAILABLE.
BANKING
REFERENCES
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BRANCH/PHONE: |
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BANCO BRADESCO S/A |
0278-0 / 11 3703-0959 |
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BANCO ITAÚ S/A |
0003 / 11 3229-9600 |
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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"). |
ACTIVITIES
COMMENTS
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THE SUBJECT IS ENGAGED IN THE
DISTRIBUTION OF FOOD PRODUCTS. MAIN PRODUCTS: GRAINS AND CEREALS. |
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IMPORT AND
EXPORT: |
IMPORTS FROM:
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INDIA, PERU, INDONESIA, ARGENTINA, TURKEY AND CHINA. |
EXPORTS TO:
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NOT AVAILABLE. |
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MAIN CLIENTS: |
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DOMESTIC
CLIENTS: |
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YOKI ALIMENTOS |
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STAFF: |
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THE COMPANY HAS: 11 EMPLOYEE(S) |
CONCEPT
AND FULFILMENT
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SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING
SINCE 1999. SO FAR IT HAS A CLEAR TRADE HISTORY AND MODEST 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. |
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MAIN
SUPPLIERS: |
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DOMESTIC
SUPPLIERS: |
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HOGAS |
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MAD PRODUCT |
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PACIFIC NUT |
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POLIKRAFT |
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STAR TRADE |
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TC REPRESENTAÇÕES |
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PAYMENT
HISTORY: |
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2 SUPPLIERS REPORTED PAYMENTS: |
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AMOUNT OF INVOICES PAID: 6 |
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TOTAL OF PROMPT PAYMENTS: 100% |
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HIGHEST INVOICE: R$ 3.500,00 |
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HIGHEST CREDIT: R$ 3.500,00 |
FINAL
OPINION
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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 ABSENCE OF UPDATED
FINANCIAL DATA. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.83 |
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|
1 |
INR 86.28 |
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Euro |
1 |
INR 76.13 |
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BRL |
1 |
INR 19.75 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
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|
|
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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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 |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.