MIRA INFORM REPORT

 

 

Report Date :

09.12.2013

 

IDENTIFICATION DETAILS

 

Name :

ROLEFLEX ARTEFATOS DE BORRACHA LTDA

 

 

Registered Office :

Av. João Carlos Von Hohendorff, 240 - Arroio Da Manteiga 93135-400 - São Leopoldo/Rs

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

24.09.1986

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of hydraulic and pneumatic equipment.

 

 

No. of Employees :

38

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Exist

 

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, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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, 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. In 2008, Brazil became a net external creditor and two 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. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% in 2011, and 1.3% in 2012. Unemployment is at historic lows and Brazil's traditionally high level of income inequality has declined for each of the last 14 years. Brazil's historically high interest rates have made it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchange markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint. In an effort to boost growth, in 2012 the administration implemented a somewhat more expansionary monetary policy that has failed to stimulate much growth.

 

Source : CIA

company name

 

ROLEFLEX ARTEFATOS DE BORRACHA LTDA

 

 

ADDRESSES

 

MAIN ADDRESS:

AV. JOÃO CARLOS VON HOHENDORFF, 240 - ARROIO DA MANTEIGA

ZIP CODE/CITY:

93135-400 - SÃO LEOPOLDO/RS

 

 

PHONE:

51 3591-1950

FAX:

51 3591-1950

E-MAIL:

roleflex@roleflex.ind.br

WEB SITE:

www.roleflex.ind.br

 

BRANCHES:

 

 

 

ADDRESS:

RUA JOSÉ CARROCCI, 765 - DISTRITO INDUSTRIAL 1

ZIP CODE/CITY:

13602-035 ARARAS/SP

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE HYDRAULIC AND PNEUMATIC EQUIPMENT.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

24/09/1986

REGISTER DATE:

24/09/1986

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

91.239.442/0001-40

STATE REGISTER:

124/0078487

 

 

SHARE CAPITAL:

R$ 165.000,00

 

BOARD OF DIRECTORS:

 

 

 

PEDRO BAPTISTA DOS SANTOS

COMMERCIAL DIRECTOR

ALFREDO BAPTISTA DOS SANTOS

ADMINISTRATIVE DIRECTOR

ANA MARIA BAPTISTA DOS SANTOS

FINANCIAL DIRECTOR

 

 

AUTHORIZED USE OF SIGNATURE

 

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

 

SHAREHOLDERS / PARTNERS:

 

 

 

PEDRO BAPTISTA DOS SANTOS

45,00%

ALFREDO BAPTISTA DOS SANTOS

45,00%

ANA MARIA BAPTISTA DOS SANTOS

10,00%

 

 

AFFILIATES / SUBSIDIARIES:

 

 

 

NO SHARE INTERESTS IN OTHER COMPANIES WERE NOTED

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON MAY 10, 2002 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: "ROLEFLEX".

 

PARTNERS:

 

PEDRO BAPTISTA DOS SANTOS, BRAZILIAN, MARRIED, HOLDER OF DOCUMENTS, CI/DPC/SPC/RS 9017589145 AND CPF 185.673.200-20, RESIDENTIAL ADDRESS AT RUA ERNESTO MUTZEL 115, CENTRO - SÃO LEOPOLDO/RS;

 

ANA MARIA BAPTISTA DOS SANTOS, BRAZILIAN, MARRIED, HOLDER OF DOCUMENTS, CI/DPC/SSP/RS 7017589305 AND CPF 535.547.440-34, RESIDENTIAL ADDRESS AT RUA ERNESTO MUTZEL 115, CENTRO - SÃO LEOPOLDO/RS;

 

ALFREDO BAPTISTA DOS SANTOS, BRAZILIAN, HOLDER OF DOCUMENT, CPF 172.873.670-68, RESIDENTIAL ADDRESS NOT AVAILABLE.

 

FURTHER DETAILS ABOUT THE SUBJECT'S HISTORY IS SO FAR NOT KNOWN.

 

PUBLIC INFORMATION:

 

PROTESTS:

 

1  PROTEST,TOTAL AMOUNT R$ 457,00

 

DETAILS OF PROTEST:

 

NOTARY OFFICE:

DATE:

VALUE:

CARTÓRIO DE SÃO LEOPOLDO/RS

25/11/2013

R$ 457,00

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

MONITORY SUIT

23/09/13

12ª VARA DE PORTO ALEGRE/RS

6

FEDERAL LAWSUITS

29/08/12

VARA DE ARARAS/SP

7

STATE LAWSUITS

08/08/11

4ª VARA DE SÃO LEOPOLDO/RS

2

MUNICIPAL LAWSUITS

25/05/11

3ª VARA DE SÃO LEOPOLDO/RS

1

EXECUTIVE LAWSUIT

30/03/10

4ª VARA DE SÃO LEOPOLDO/RS

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/12/2012 AND 31/12/2011.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2012

31/12/2011

 

 

 

 

 

CASH AND BANKS

140.127,57

94.638,55

 

INVENTORY

387.471,86

1.214.040,65

 

CLIENTS

1.414.119,79

632.489,92

 

RECOVERABLE TAXES

73.063,03

71.139,90

 

ADVANCES

9.758,83

2,05

 

DISCOUNTED NOTES

-189.360,55

-71.530,08

 

 

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

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

 

TOTAL CURRENT ASSETS

1.835.180,53

1.940.780,99

 

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

GRANTED LOANS

3.378.399,82

3.157.941,07

 

JUDICIAL DEPOSITS

32.747,63

32.485,07

 

 

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

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

 

TOTAL LONG-TERM RECEIVABLES

3.411.147,45

3.190.426,14

 

 

FIXED ASSETS:

 

 

 

 

 

 

 

INVESTMENTS

62.635,26

62.635,26

 

FIXED ASSETS

171.491,80

200.811,39

 

INTANGIBLE

2.540,43

 

 

 

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

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

 

TOTAL FIXED ASSETS

236.667,49

263.446,65

 

 

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

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

 

TOTAL ASSETS

5.482.995,47

5.394.653,78

 

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2012

31/12/2011

 

 

 

 

 

LOANS AND FINANCING

21.044,83

11.112,37

 

TAXES & CONTRIBUTIONS

2.202.681,20

2.058.243,21

 

ACCOUNTS PAYABLE

5.221,00

55.791,20

 

PROVISIONS

157.476,42

83.050,00

 

 

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

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

 

TOTAL CURRENT LIABILITIES

2.386.423,45

2.208.196,78

 

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

LOANS AND FINANCING

150.000,00

 

 

TAXES AND CONTRIBUTIONS

6.415.658,57

6.669.571,62

 

 

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

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

 

TOTAL LONG TERM LIABILITIES

6.565.658,57

6.669.571,62

 

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

165.000,00

165.000,00

 

CAPITAL RESERVES

2.630,86

2.630,86

 

OTHER COMPREHENSIVE INCOME

-13.000,00

 

 

ACCRUED PROFIT (LOSS)

-3.623.717,41

-3.650.745,48

 

 

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

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

 

TOTAL NET EQUITY

-3.469.086,55

-3.483.114,62

 

 

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

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

 

TOTAL LIABILITIES

5.482.995,47

5.394.653,78

 

 

 

PROFIT AND LOSS ACCOUNTS AS OF 31/12/2012 AND 31/12/2011.

( FIGURES ARE IN REAIS ).

 

 

31/12/2012

31/12/2011

 

 

 

 

 

GROSS SALES

2.996.991,40

3.750.251,33

 

(-) TAXES ON SALES

572.779,26

734.304,11

 

 

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

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

 

NET SALES

2.424.212,14

3.015.947,22

 

(-) COST OF SOLD GOODS

1.776.640,75

727.216,89

 

 

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

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

 

GROSS PROFIT

647.571,39

2.288.730,33

 

OPERATING REVENUE (EXPENSE)

-427.521,64

-3.072.126,97

 

FINANCIAL REVENUE(EXPENSE)

-104.171,96

-98.631,58

 

 

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

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

 

OPERATIONAL PROFIT (LOSS)

115.877,79

-882.028,22

 

CONTRIBUTION/INCOME TAX

-87.337,42

-83.804,37

 

 

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

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

 

NET PROFIT (LOSS)

28.540,37

-965.832,59

 

 

MONTHLY SALES

 

  2013

 

 

 

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

 

 

JANUARY

R$ 214.372,35

 

 

FEBRUARY

R$ 323.389,15

 

 

MARCH

R$ 437.065,66

 

 

APRIL

R$ 345.483,78

 

 

MAY

R$ 282.458,00

 

 

JUNE

R$ 175.740,61

 

 

JULY

R$ 243.620,29

 

 

AUGUST

R$ 278.957,72

 

 

SEPTEMBER

R$ 159.394,19

 

 

OCTOBER

R$ 304.060,08

 

 

NOVEMBER

 

 

 

DECEMBER

 

 

 

TOTAL

R$ 2.764.541,83

 

 

 

 

RATIOS:

31/12/2012

 

31/12/2011

 

QUICK RATIO

,61

 

,33

 

CURRENT RATIO

,77

 

,88

 

ACCOUNTS RECEIVABLE TURNOVER

1,71

TIMES

4,77

TIMES

DAYS' SALES IN RECEIVABLES

210,00

DAYS

75,50

DAYS

INVENTORY TURNOVER

4,59

TIMES

,60

TIMES

ACCOUNTS PAYABLE PERIOD

 

 

 

 

RETURN ON ASSETS

,44

TIMES

,56

TIMES

SALES TURNOVER ON NET EQUITY

-,70

TIMES

-,87

TIMES

NET WORTH TIE-UP

-,05

 

-,06

 

INDEBTEDNESS

-2,58

 

-2,55

 

EQUITY RATIO

-63,27

%

-64,57

%

WORKING CAPITAL RATIO

-23,10

%

-12,11

%

GENERAL SOLVENCY

,61

 

,61

 

RETURN ON NET EQUITY

-,82

%

27,73

%

RETURN ON SALES (PROFIT MARGIN)

1,18

%

-32,02

%

GROSS PROFIT MARGIN

26,71

%

75,89

%

OPERATIONAL RESULT

4,78

%

-29,25

%

SALES TURNOVER ON LIABILITIES

1,02

TIMES

1,37

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,37

 - OFFICIAL RATE ON 05/12/2013

US$ 1,00 = R$ 2,04

 - OFFICIAL RATE ON 31/12/2012

US$ 1,00 = R$ 1,87

 - OFFICIAL RATE ON 31/12/2011

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS.

 

THE FIGURES AVAILABLE SHOW AN UNBALANCED FINANCIAL STANDING. IT HAS LOW LIQUIDITY RATIOS AND VERY HIGH LEVEL OF INDEBTEDNESS (WITH NEGATIVE NET EQUITY). IT ALSO SHOWS DROP IN SALES AND POSTED SMALL PROFIT.

 

REAL ESTATE:

 

NOT AVAILABLE

 

VEHICLES:

 

NOT AVAILABLE

 

MACHINES:

 

 NOT AVAILABLE

 

 

INSURANCE

 

NOT AVAILABLE

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO BRADESCO S/A

0285-2  /  51 3533-5300

 

BANCO BANRISUL S/A

0410  /  51 3037-8070

 

 

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

 

MANUFACTURE HYDRAULIC AND PNEUMATIC EQUIPMENT.

 

MAIN PRODUCT: HELICOIDAL PUMPS.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

 

DOES NOT IMPORT.

 

EXPORTS TO:

 

VENEZUELA, ARGENTINA, URUGUAY, CHILE, PARAGUAY.

 

TOTAL, US$150.000,00 (ANNUALLY).

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

ALCOAZUL S/A - ACUCAR E ALCOOL

 

 

C.VALE - COOPERATIVA AGROINDUSTRIAL

 

 

HERCOSUL ALIMENTOS LTDA

 

 

LOUIS DREYFUS COMMODITIES AGROINDUSTRIAL

 

 

MARFRIG ALIMENTOS S/A

 

 

PITANGUEIRAS ACUCAR E ALCOOL LTDA

 

 

SOCIEDAE DE BEBIDAS PANIZZON LTDA

 

 

U.S.I. ACUCAR E ALCOOL S/A

 

 

USINA ACUCAREIRA GUAIRA LTDA

 

 

 

STAFF:

 

THE COMPANY HAS: 38 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED FAMILY-OWNED COMPANY, OPERATING SINCE 1986. 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.

 

THE LAWSUITS REPORTED ARE NOT RELATED WITH TRADE DEBTS. THEY ARE RELATED TO TAX DEBTS THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. USUALLY THIS KIND OF SUITS DO NOT AFFECT THE COMPANY REPUTATION BUT IN THE SUBJECT SPECIFIC CASE IT IS NOT POSSIBLE TO EVALUATE AS THERE ARE SEVERAL SUITS REGISTERED AND NO DETAILS REGARDING THE AMOUNTS INVOLVED ARE AVAILABLE FOR PUBLIC INSPECTION.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

AÇOS FAVORIT

 

51 3470-9000

AÇOTUBO

 

51 2126-9400

NITRIFLEX

 

11 2886-3300

 

PAYMENT HISTORY:

 

02 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 198,00

 

AMOUNT OF INVOICES PAID: 3

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 68,00

HIGHEST CREDIT: R$ 68,00

 

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 ABOVE-MENTIONED FINANCIAL STANDING.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.67

UK Pound

1

Rs.100.65

Euro

1

Rs.84.25

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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%)

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.