MIRA
INFORM REPORT
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Report Date : |
09.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AGRALE S/A |
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Registered Office : |
BR 116, KM 145 Nº 15.104 – Bairro São Ciro, 95059-520 – Caxias do
Sul/RS |
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Country : |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
April 25, 1968 |
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Com. Reg. No.: |
211.155 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and marketing of Motor Vehicles |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company name
AGRALE S/A
Trade Name
AGRALE
Economical Group
FRANCISCO STEDILE
Address
BR 116, KM 145 Nº 15.104 – Bairro São Ciro
95059-520 – Caxias do Sul/RS - Brasil
Phone: (55-54)
3238-8000 / 3229-0123
Fax: (55-54)
3238-8022
E-mail: contabil@agrale.com.br
Web Site: www.agrale.com.br
Legal information
Legal Status: Joint Stock Company (Closed Capital)
Incorporation date: April 25, 1968
Register number: 211.155
Tax contributor (CNPJ): 88.610.324/0001-92
Registered capital: R$60.000.000,00 – May 29, 2003
Register number: 2.249.036
State Registration #: 029/0000068
Municipal Registration#: 30.317
Number of employees: 865
Branches: 02 Caxias do Sul/RS
Factory:
Bairro São Cristóvão - Caxias do Sul/RS
Phone: (55-54)
3283-1533
Tax
Contributor (CNPJ): 88.610.324/0020-55
State Registration Number: 029/0192838
Subsidiaries:
AGRALE MONTADORA LTDA
Factory 02 RS
Acesso Oeste a Caxias do Sul, 3940-Km 02
95010-550 – Distrito Industrial- Caxias do Sul/RS
phone: (55-54)227-1133
Fax: (55-54)227-3001
Tax Contributor (CNPJ): 02.129.835/0001-71
State Registration Number: 029/0315565
AGRALE AMAZÔNIA S/A
Factory 03 Av.
Costa e Silva, 1100 – Bairro Raiz
69075-Manaus/AM
Phone: (55-92)237-1959
Fax:
(55-92)237-5806
Tax
Contributor (CNPJ): 23.001.852/0001-07
State
Registration Number: 04.190016-2
History
Established on April 25, 1968, chartered at the State Commerce Registration Office of Rio Grande do Sul (JUCERS) under # 211.155, into the present registered name.
Previous corporate name:
December 14, 1965 – Indústria Gaúcha de Implementos e Máquinas Agrícolas S/A – AGRISA, chartered at the State Commerce Registration Office of Rio Grande do Sul (JUCERS) under # 142.432
May 03, 1982 – AGRALE S/A – Tratores e Motores
“Constituted in 1968, AGRALE has for objective the assembly, production and commercialization of vehicles (trucks), chassis, motors, implements and agricultural machines and bus stations. Integrates the Group Participale Administration, whose focus of performance is addressed the production of trucks, motorcycles, motors, tractors and accessories. Possesses 4 industrial units, of the which 03 located in Caxias of Sul/RS and 01 in Manaus/AM.
The tractors, motors and trucks AGRALE are present in practically
the whole
Shareholders:
FRANCISCO STEDILE PARTICIPAÇÕES E
EMPREENDIMENTOS S/A - 99,9%
(joined 12/1988), Brazilian, CNPJ:
94.149.697/0001-00
OTHERS: - 0,1%
Managers:
FLÁVIO CROSA -
Director of Sales/Marketing
Brazilian, Married
FLÁVIO POLETTI - Director of
Techniques Industrial
Brazilian, Married
ROGÉRIO VACARI - Director
Administrative/Financial
Brazilian, Married
EDSON ARES SIXTO MARTINS - Director of Supplies
Brazilian, Married
Management
Board:
FRANCISCO STEDILE - President
Member
of the Board:
ALFREDO BRÁULIO STEDILE - CPF: 003.449.070-15
FRANCO FRANCISCO STEDILE - CPF: 283.787.090-00
CARLOS VALENTIM STEDILE - CPF: 098.517.390-49
JOSÉ FIORINDO ANGELI - CPF:
029.572.990-20
HUGO DOMINGOS ZATTERA - CPF: 010.829.650-49
Properties
The subject owns a premise at the captioned address
Built-up area: 34.500m² - total area: 102.000m²
Subject stated to possess two rented properties,
Built-up area: 31.960m² - total area:
215.000m²
Registered
line of business:
- Manufacture and marketing of Motor
Vehicles
- Spare parts and accessories.
- Cropping farm, farm and road machines
- Import and Export products.
Distributors:
Tractors: 95
Motors: 317
Trucks
74
Motorcycle:
74
Import
countries:
Export countries:
Purchases:
88% - domestic market
12% - international market
Sales:
90% - domestic market
10% - international market
Certification:
ISO 9001 – MONTAGEM DE TRATORES, CAMINHÕES
and CHASSIS
DNV-DET NORSKE VERITAS CERTIFICADORA LTDA
Related Companies
Stock participation
AGRALE
CNPJ: 23.001.852/0001-07
- Agrale S/A -
99,90%
- Hugo Domingos Zattera - 0,10%
GERMANI ALIMENTOS LTDA
CNPJ: 90.058.082/0001-18
- Francisco Stedile Participações e Empreendimentos - 34,90%
AGRITECH LAVRALE S/A MAQUINÁRIO AGRÍCOLA
CNPJ: 88.658.984/0001-43
- Francisco Stedile Participações e Empreendimentos - 17,40%
- Agrale S/A - 9,90%
AGRALE MONTADORA LTDA
CNPJ: 02.129.835/0001-71
- Agrale S/A -100,00%
Financial Data
The following financial statement was obtained through outside sources consulted.
Quarterly balance sheet as of 30/06/2006 –
US$1.00 = R$2,164
Balance sheet information for fiscal year
ending:
31/12/2005 – US$1.00 = R$2,341
31/12/2004 – US$1.00 = R$2,654
Figures are in (Thousands of) Reais R$:
Assets
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06/2006 |
2005 |
2004 |
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Current Assets |
151.898 |
156.351 |
168.381 |
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Inventory |
52.456 |
52.961 |
54.136 |
Other Assets
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99.442 |
103.390 |
114.245 |
Long Term
Assets
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32.770 |
34.951 |
23.150 |
Fixed
Assets
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37.935 |
38.532 |
36.576 |
Investment
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4.920
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5.034
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5.162 |
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Immovable |
23.351
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23.548
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23.607 |
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Deferred |
9.664
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9.950
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7.807 |
Total
Assets
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222.603
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229.834
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228.107 |
Liabilities
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06/2006 |
2005 |
2004 |
Current
Liabilities
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96.551 |
106.456 |
107.965 |
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Suppliers |
40.929 |
27.818 |
31.439 |
Other liabilities
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55.622 |
78.638 |
76.526 |
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Long Term Liabilities |
22.172 |
20.803 |
16.236 |
Net Equity
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103.880 |
102.575 |
103.906 |
Capital
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60.000 |
60.000 |
60.000 |
Reserves
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3.753 |
3.753 |
3.753 |
Accumulated Profit (Loss)
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40.127 |
38.822 |
40.153 |
Total
Liabilities
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222.603
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229.834
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228.107 |
Income Statement
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06/2006 |
2005 |
2004 |
Annual Net
Sales
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163.684 |
323.805 |
352.411 |
Gross
Income
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24.144 |
44.019 |
81.176 |
Operating
Income
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1.660 |
(7.031) |
37.036 |
Net Income
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1.307 |
(1.331) |
28.538 |
Financial Analysis
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06/2006 |
2005 |
2004 |
Current Ratio
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1,57 |
1,46 |
1,55 |
Current Debt Ratio
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0,92 |
1,03 |
1,03 |
Total Debt Ratio
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2,14 |
2,24 |
2,19 |
Working Capital
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$55.347 |
$49.895 |
$60.416 |
(Dollar rate US$1.00 = R$2,027 on
07/05/2007).
Banking
Banco do Brasil S/A. - branch.3025-2 Caxias
do Sul/RS
phone: (55-54) 209-5700
Banco
phone: (55-54) 3287-5947
Banco Bradesco S/A. - branch.3236-0 Porto
Alegre/RS
phone: (55-51) 3221-2927
Banco Banrisul S/A. - branch.0180 Caxias
do Sul/RS
phone: (55-54) 220-9925
Remark: banking comments could not be obtained due to legal restrictions from the Brazilian Law.
Up to May 07, 2007 no returned cheques were found either in the name of the company or partners.
Insurance
Company: Cia
de Seguros Aliança da
Coverage Immovable
Value: Not
informed
Expiration: Not
informed
Payment Information
3.596 invoices
Information on Purchases:
APR/2007 Last: R$20.852 Average: R$3.267
Information on invoicing:
NOV/2006 Highest: R$39.317 Average: R$5.237
Information on accumulation:
MAY/2006 Highest: R$537.488 Average: R$24.443
92% prompt
payments
3% delays from 06 to 15 days
3% delays from 16 to 30 days
2% delays from 31 to 60 days
Trade References
Main
Suppliers -
MWM MOTORES DIESEL LTDA São Paulo/SP
phone: (55-11) 3882-3252
EATON TRUCK COMPONENTS LTDA Valinhos/SP
phone: (55-19) 3881-9482
METAL LEVE S/A São Paulo/SP
ROBERT BOSCH LTDA Campinas/SP
PIRELLI PNEUS S/A Santo André/SP
DANA INDÚSTRIAS LTDA Sorocaba/SP
COFAP CIA DE PEÇAS Santo André/SP
MERITOR DO BRASIL São Paulo/SP
Main
Suppliers Abroad:
CARRARO
phone: 5411 4483 33220
Main
clients -
PONTES DIST.DE MÁQS.E EQUIPAMENTOS Porto Alegre/RS
G. MAIOCHI LTDA Joinville/SC
CERB Salvador/BA
A D. BRENNER Lajeado/RS
BOA MARCA S.Miguel
Araguaia/GO
MERCETOYA
MARCOPOLO S/A Caxias do
Sul/RS
LAVRALE MÁQ. AGRÍCOLAS LTDA Caxias do Sul/RS
Public Information
Up to May 07, 2007, no negative information
was found.
Remarks
Subject provided general information with relationship to the financial data, until the moment we didn't receive an answer.
Others sources: public records consulted
Final Opinion
Based on overall information, the company can be considered normal for
business dealings at usual trade terms and conditions.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)