MIRA INFORM REPORT

 

 

Report Date :

29.12.2014

 

IDENTIFICATION DETAILS

 

Name :

KALAY DO BRASIL LTDA

 

 

Formerly Known as : 

KALAY QUIMICA DO BRASIL LTDA

 

 

Registered Office :

Avenida Maringá, 3036 - Bairro Atuba, Zip Code 83326-010 - Pinhais/Pr

 

 

Country :

Brazil

 

 

Financials (as on) :

31.10.2011

 

 

Date of Incorporation :

18.12.2002

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

·         Manufacturer of Chemical Products.

Manufacturer of Pigments Concentrates Additive microsphere Form of e -liquid

 

Subject product ranges includes :

·         Holcobatch

Holcoliquido

Color Pigments index | Aplicação | Nome

Additives

Resins

Dispersões liquid

Gravimetric Dosing

 

 

No of Employees :

30

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but Correct

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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, and a rapidly expanding middle class, 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 in 2011-13. 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.

 

Source : CIA

 

Company name

 

KALAY DO BRASIL LTDA

 

 

Company ADDRESSES

 

MAIN ADDRESS:

AVENIDA MARINGÁ, 3036 - BAIRRO ATUBA

ZIP CODE/CITY:

83326-010 - PINHAIS/PR

 

 

PHONE:

41 3059-8030

FAX:

41 3059-8030

E-MAIL:

taisa@kalay.com.br

WEB SITE:

www.kalay.com.br

 

BRANCHES:

 

 

 

ADDRESS:

RUA ANDRÉ DE LEÃO, 268 - BRÁS

ZIP CODE/CITY:

03101-010 SÃO PAULO/SP

PHONE:

11 2959-4054

FAX:

11 2959-4054

CNPJ:

05.445.030/0002-06

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

·         MANUFACTURE OF CHEMICAL PRODUCTS.

Manufacturer of pigments concentrates Additive microsphere Form of e -liquid

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

18/12/2002

REGISTER DATE:

18/12/2002

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

05.445.030/0001-25

STATE REGISTER:

90272008-15

 

 

SHARE CAPITAL:

R$ 877.831,00

 

BOARD OF DIRECTORS:

 

 

 

SANDRA ELOISA GARCIA TOLEDO

MANAGING PARTNER

ROBERTO MIGUEL RECHT

MANAGING PARTNER

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGING PARTNERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

KRUSE CO S/A (URUGUAY)

95%

SANDRA ELOISA GARCIA TOLEDO

4%

ROBERTO MIGUEL RECHT

1%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

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

 

 

SANTE COBRANÇAS S/S LTDA ME

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON DECEMBER 18, 2002 AS KALAY QUIMICA DO BRASIL LTDA. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON JANUARY 26, 2010 IT ADOPTED THE ABOVE-MENTIONED NAME.

 

TRADE NAME: KALAY.

 

PARTNERS:

 

SANDRA ELOISA GARCIA TOLEDO: BRAZILIAN, DIVORCED, CHEMICAL ENGINEER, RESIDENTIAL ADDRESS AT RUA MARECHAL HERMES DA FONSECA, 91, APTO 124, SANTANA, ZIP CODE 02020-000, HOLDER OF DOCUMENTS 18.385.749-SSP/SP AND CPF: 086.714.678-80;

 

ROBERTO MIGUEL RECHT: ARGENTINEAN, MARRIED, ENTREPRENEUR, HOLDER OF DOCUMENTS RNE V488385-Y AND CPF: 011.375.219-96, RESIDENTIAL ADDRESS AT RUA RIO PELOTAS, 1080, CASA 10, CONJUNTO RESIDÊNCIAL SÃO RAFAEL, BAIRRO ALTO, ZIP CODE 82840-380, CURITIBA/PR;;

 

KRUSE CO S/A: LOCATED IN MONTEVIDEO, URUGUAY, COMPANY LEGALLY REGISTERED UNDER TAX CONTRIBUTOR NUMBER 05.733.379/0001-62, REPRESENTED BY ITS ATTORNEY ALFREDO JACOBO SADLER, ARGENTINEAN, MARRIED, INDSUTRIAL, RESIDENTIAL ADDRESS AT RUA DR. BRASILIO MACHADO, 47, APTO 91, SANTA CECÍLIA, ZIP CODE 01230-010, HOLDER OF DOCUMENTS RNE W250540-1 SE/DPMAF/DPF AND CPF: 000.169.188-00.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

WHEN INTERVIEWED SOURCES AT THE SUBJECT STATED THAT ARE STILL WAITING FOR AUTHORIZATION FROM THE PRINCIPALS TO PROVIDE THE DATA NECESSARY TO COMPLETE THIS REPORT.

 

A REQUEST FOR FURTHER DATA HAS BEEN SENT TO THE COMPANY. PROVIDED THE DATA REQUESTED ARE RECEIVED FROM THE SUBJECT A COMPLEMENTARY REPORT WILL BE SENT TO YOUR ATTENTION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC INFORMATION:

 

NO DETRIMENTAL FILES WERE FOUND.

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/10/2011 AND 31/12/2010.

( FIGURES ARE IN REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/10/2011

31/12/2010

 

 

 

 

 

CASH

2.081,07

2.128,65

 

BANKS

4.542,76

92.589,44

 

INVESTMENTS

76.446,31

7.260,45

 

SHORT TERM INVESTMENTS

 

10.000,00

 

CLIENTS

1.951.455,55

1.358.867,45

 

FOREIGN CLIENTS

165.882,41

237.245,07

 

INVENTORY

3.320.049,97

3.073.860,85

 

ADVANCE TO SUPPLIERS

180.670,53

183.198,78

 

ADVANCE TO EMPLOYEES

41.752,30

10.541,56

 

RECOVERABLE TAXES

 

44.849,90

 

PRE PAID EXPENSES

12.599,63

37.358,33

 

OTHER ADVANCES

32.092,22

32.092,22

 

 

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

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

 

TOTAL CURRENT ASSETS

5.787.572,75

5.089.992,70

 

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

CREDITS

18.243,81

12.747,45

 

 

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

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

 

TOTAL LONG-TERM RECEIVABLES

18.243,81

12.747,45

 

 

FIXED ASSETS:

 

 

 

 

 

 

 

FIXED ASSETS

915.631,88

718.618,80

 

INTANGIBLE

8.459,43

6.065,11

 

 

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

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

 

TOTAL FIXED ASSETS

924.091,31

724.683,91

 

OFF-BALANCE ACCOUNTS

76.500,00

 

 

 

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

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

 

TOTAL ASSETS

6.806.407,87

5.827.424,06

 

 

LIABILITIES:

 

 

 

CURRENT:

31/10/2011

31/12/2010

 

 

 

 

 

SUPPLIERS

263.932,39

251.280,76

 

FOREIGN SUPPLIERS

1.455.669,42

1.141.586,79

 

LOANS AND FINANCING

21.552,65

294.511,60

 

SOCIAL OBLIGATIONS

41.538,61

34.442,36

 

TRIBUTARY OBLIGATIONS

85.624,97

192.860,78

 

ADVANCE FROM CLIENTS

2.478,00

28.675,76

 

ACCOUNTS PAYABLE

763,21

18.874,99

 

LABOR PROVISIONS

157.962,19

67.967,65

 

 

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

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

 

TOTAL CURRENT LIABILITIES

2.029.521,44

2.030.200,69

 

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

ACCOUNTS PAYABLE

44.133,29

 

 

 

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

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

 

TOTAL LONG TERM LIABILITIES

44.133,29

 

 

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

877.831,00

877.831,00

 

UNPAID CAPITAL

-425.947,95

-425.947,95

 

ACCRUED PROFIT (LOSS)

3.345.340,32

3.345.340,32

 

PROFIT (LOSS) OF PERIOD

859.029,77

 

 

 

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

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

 

TOTAL NET EQUITY

4.656.253,14

3.797.223,37

 

OFF-BALANCE ACCOUNTS

76.500,00

 

 

 

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

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

 

TOTAL LIABILITIES

6.806.407,87

5.827.424,06

 

 

PROFIT AND LOSS ACCOUNTS AS OF 31/10/2011 AND 31/12/2010.

( FIGURES ARE IN REAIS ).

 

 

31/10/2011

31/12/2010

 

 

 

 

 

GROSS SALES

13.142.083,33

14.073.904,74

 

(-) TAXES ON SALES

2.862.245,92

3.058.077,03

 

 

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

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

 

NET SALES

10.279.837,41

11.015.827,71

 

(-) COST OF SOLD GOODS

6.756.963,81

6.979.002,05

 

 

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

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

 

GROSS PROFIT

3.522.873,60

4.036.825,66

 

OPERATING REVENUE (EXPENSE)

-2.224.193,50

-2.188.195,34

 

FINANCIAL REVENUE(EXPENSE)

-74.942,73

-130.265,71

 

 

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

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

 

OPERATIONAL PROFIT (LOSS)

1.223.737,37

1.718.364,61

 

NON-OPERATING RESULT

36.738,88

4.435,52

 

CONTRIBUTION/INCOME TAX

-401.446,48

-553.576,62

 

 

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

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

 

NET PROFIT (LOSS)

859.029,77

1.169.223,51

 

 

RATIOS:

31/10/2011

31/12/2010

 

 

QUICK RATIO

1,22

 

,99

 

 

 

CURRENT RATIO

2,85

 

2,51

 

 

 

ACCOUNTS RECEIVABLE TURNOVER

5,27

TIMES

8,11

TIMES

 

 

DAYS' SALES IN RECEIVABLES

56,95

DAYS

44,41

DAYS

 

 

INVENTORY TURNOVER

2,04

TIMES

2,27

TIMES

 

 

ACCOUNTS PAYABLE PERIOD

11,72

DAYS

12,96

DAYS

 

 

RETURN ON ASSETS

1,51

TIMES

1,89

TIMES

 

 

SALES TURNOVER ON NET EQUITY

2,21

TIMES

2,90

TIMES

 

 

NET WORTH TIE-UP

,20

 

,19

 

 

 

INDEBTEDNESS

,45

 

,53

 

 

 

EQUITY RATIO

68,41

%

65,16

%

 

 

WORKING CAPITAL RATIO

185,17

%

150,71

%

 

 

GENERAL SOLVENCY

3,28

 

2,87

 

 

 

RETURN ON NET EQUITY

18,45

%

30,79

%

 

 

RETURN ON SALES (PROFIT MARGIN)

8,36

%

10,61

%

 

 

GROSS PROFIT MARGIN

34,27

%

36,65

%

 

 

OPERATIONAL RESULT

11,90

%

15,60

%

 

 

SALES TURNOVER ON LIABILITIES

5,07

TIMES

5,43

TIMES

 

 

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,74

 - OFFICIAL RATE ON 16/12/2014

US$ 1,00 = R$ 1,68

 - OFFICIAL RATE ON 31/10/2011

US$ 1,00 = R$ 1,66

 - OFFICIAL RATE ON 31/12/2010

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

FOLLOWS ATTACHED WORKSHEET WITH MAIN FINANCIAL RATIOS

 

THE ANNUAL FIGURES FOR 2010 SHOW A GOOD FINANCIAL STANDING. IT HAD GOOD CURRNET RATIO AND POSITIVE WORKING CAPITAL, AS WELL AS ACCEPTABLE LEVEL OF INDEBTEDNESS. IT ALSO SHOWED GROWING SALES AND POSITIVE RESULT.

 

THE INTERIM FIGURES FOR OCTOBER 2010 SHOW GOOD LIQUIDITY RATIOS AND LOW LEVEL OF INDEBTEDNESS. IT ALSO SHOWS GROWING SALES TREND AND POSITIVE RESULT.

 

REAL ESTATE:

NOT AVAILABLE

 

VEHICLES:

NOT AVAILABLE

 

MACHINES:

NOT AVAILABLE

 

 

INSURANCE

 

NOT AVAILABLE.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO ITAU S/A

0355 / 11 2959-7699

 

BANCO DO BRASIL S/A

2456-2 / 41 3667-4667

 

 

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

 

SUBJECT IS ENGAGED IN THE MANUFACTURE OF CHEMICAL PRODUCTS.

 

Engaged as Manufacturer of pigments concentrates Additive microsphere Form of e  - liquid

 

Product description

·         Holcobatch

Holcoliquido

Color Pigments index | Aplicação | Nome

Additives

Resins

Dispersões liquid

Gravimetric Dosing

 

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

CHINA, INDIA, UNITED STATES, URUGUAY AND GERMANY.

 

EXPORTS TO:

ARGENTINA, PARAGUAY, URUGUAY AND CHILE.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

PHONE:

APA-ACABAMENTOS E PRIMERS ANTICORROSIVOS LTDA

 

11 4125-1229

BRYLCOR-SANTANA IND COM TINTAS E VERNIZES

 

11 4154-2311

VEDAT TAMPAS HERMÉTICAS LTDA

 

11 2133-1226

 

STAFF:

 

THE COMPANY HAS: 30 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 2002. SO FAR IT HAS A CLEAR TRADE HISTORY AND MODEST PAYMENT RECORD.

 

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.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

BASF S/A

 

11 3043-2690

BOM BRASIL ÓLEO DE MAMONA LTDA

 

71 3082-8931

TRANSCOR INDUSTRIA DE PIGMENTOS LTDA

 

41 3672-3313

 

FOREIGN SUPPLIERS:

COUNTRY:

 

HOLLAND COLOURS AMERICAS

UNITED STATES

 

MEGHMANI ORGANICS

INDIA

 

ZHEJLANG SHENGDA CHARTER

CHINA

 

 

PAYMENT HISTORY:

 

01 SUPPLIER REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 5.850,00

 

AMOUNT OF INVOICES PAID: 14

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 723,00

HIGHEST CREDIT: R$ 723,00

 

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS SINCE 2003. UP TO DATE IT HAS CLEAR TRADE HISTORY 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.

 

AS NO UPDATED FINANCIAL DATA IS AVAILABLE, HIGHER AMOUNTS SHOULD BE GRANTED WITH SOME CAUTION AS SUBJECT HAS A LOW NET ASSETS AMOUNT AND ONLY THE EXPRESSIVE AND GROWING SALES ARE THE MAIN SOURCE TO GENERATE THE FUNDS NECESSARY TO FACE THE FINANCIAL AND TRADE COMMITMENTS.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.64

UK Pound

1

Rs.98.98

Euro

1

Rs.77.74

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

MNL

 

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.