MIRA INFORM REPORT

 

 

Report Date :

31.12.2014

 

IDENTIFICATION DETAILS

 

Name :

K.S.B. BOMBAS HIDRÁULICAS S.A.

 

 

Registered Office :

Rua José Rabello Portela, 638 - Centro  13220-540 - Varzea Paulista/Sp

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

26.12.1954

 

 

Legal Form :

Privately Held Corporation

 

 

Line of Business :

Manufacture of Hydraulic Pumps.

 

 

No. of Employee :

950

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

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 – 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

 

K.S.B. BOMBAS HIDRÁULICAS S.A.

 

 

ADDRESSES

 

MAIN ADDRESS:

RUA JOSÉ RABELLO PORTELA,638 - CENTRO

ZIP CODE/CITY:

13220-540 - VARZEA PAULISTA/SP

 

 

PHONE:

11 4596-8500

FAX:

11 4596-8500

E-MAIL:

palmeida@ksb.com.br

WEB SITE:

www.ksb.com.br

 

BRANCHES:

 

 

 

ADDRESS:

RUA JAGUARÃO,656 - CHÁCARA REUNIDAS

ZIP CODE/CITY:

SÃO JOSÉ DOS CAMPOS/SP

CNPJ:

60.680.873/0010-05

 

 

ADDRESS:

RUA FRANCISCO FOGA,680 - DISTRITO INDUSTRIAL

ZIP CODE/CITY:

VINHEDO/SP

CNPJ:

60.680.873/0018-62

 

 

ADDRESS:

AVENIDA NILO PEÇANHA,50 16º ANDAR, SALA 1602 - CENTRO

ZIP CODE/CITY:

20020-100 RIO DE JANEIRO/RJ

CNPJ:

60.680.873/0003-86

 

 

ADDRESS:

RODOVIA LUIZ DE QUEIROZ, KM 125,1001 - RECANTO

ZIP CODE/CITY:

AMERICANA/SP

CNPJ:

60.680.873/0004-67

 

 

ADDRESS:

AVENIDA MARECHAL MASCARENHAS DE MORAIS,701 - IMBIRIBEIRA

ZIP CODE/CITY:

RECIFE/PE

CNPJ:

60.680.873/0009-71

 

 

ADDRESS:

RUA RUBENS GUELLI,134 4º ANDAR - SALA 404 - ITAIGARA

ZIP CODE/CITY:

SALVADOR/BA

CNPJ:

60.680.873/0012-77

 

 

ADDRESS:

AVENIDA SANTOS DUMONT,1789 SALAS 1314 E 1315 - ALDEOTA

ZIP CODE/CITY:

FORTALEZA/CE

CNPJ:

60.680.873/0015-10

 

 

ADDRESS:

RUA SILVA JARDIM,33 SALA 204 - CENTRO

ZIP CODE/CITY:

MACAÉ/RJ

CNPJ:

60.680.873/0014-39

 

 

ADDRESS:

RUA DOMINGOS VIEIRA,587 18º ANDAR - SALAS 1805, 1807, 1809 E 1811 - CENTRO EMPRESARIAL GERSON DIAS - SANTA I

ZIP CODE/CITY:

BELO HORIZONTE/MG

CNPJ:

60.680.873/0016-09

 

 

ADDRESS:

AVENIDA RIO TARAUCA,45 - NOSSA SRA. DAS GRAÇAS

ZIP CODE/CITY:

69053-580 MANAUS/AM

CNPJ:

60.680.873/0017-81

 

 

ADDRESS:

AVENIDA CONSELHEIRO FURTADO,2391 SALA 708 - CREMAÇÃO

ZIP CODE/CITY:

BELEM/PA

CNPJ:

60.680.873/0019-43

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF HYDRAULIC PUMPS.

 

LEGAL FORM:

PRIVATELY HELD CORPORATION

 

 

INCORPORATION DATE:

26/12/1954

REGISTER DATE:

26/12/1954

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

60.680.873/0001-14

STATE REGISTER:

712.000.470.118

 

 

SHARE CAPITAL:

R$ 67.844.290,00

 

BOARD OF DIRECTORS:

 

 

 

CARMELO FERNANDEZ MOLDES

PRESIDENT DIRECTOR

FREDERICO WONGTSCHOUSKI

DIRECTOR

 

 

AUTHORIZED USE OF SIGNATURE

 

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

 

SHAREHOLDERS / PARTNERS:

 

 

 

KSB FINANZ S/A (LUXEMBURGO)

99,99%

OTHRES

0,01%

 

AFFILIATES / SUBSIDIARIES:

 

 

 

KSB DA AMAZÔNIA S/A

100,00%

KSB VÁLVULAS LTDA

100,00%

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON DECEMBER 26, 1954 AS K S B DO BRASIL INDUSTRIA DE BOMBAS HIDRAULICAS S/A INDUSTRIA E COMERCIO. TO BE ENGAGED IN THE SAID LINE OF BUSINESS. ON OCTORBER 17, 1977 IT ADOPTED THE ABOVE MENTIONED NAME AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

IN OCTOBER 2009 THE SUBJECT TOOK OVER KSB DA AMAZONIA S/A, CNPJ 34.512.327-64.

 

THE COMPANY OPERATES WITH THE TRADE NAME: KSB

 

CERTIFICATIONS:

***************

 

AD 2000 - MERKBLATT W0 - AMERICANA / VÁRZEA PAULISTA UNITS

ISO 9001, ISO 14001 AND BS OHSAS 18001 - VÁRZEA PAULISTA UNIT

ISO 9001, ISO 14001 AND BS OHSAS 18001 - AMERICANA UNIT

ISO 9001, ISO 14001 AND BS OHSAS 18001 - BARUERI UNIT

ISO 9001, ISO 14001 AND BS OHSAS 18001 - VINHEDO UNIT

 

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

 

PUBLIC INFORMATION:

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

STATE LAWSUIT

15/04/10

VARA DE AMERICANA/SP

 

 

FINANCIAL INFORMATION

 

GENERAL BALANCE SHEETS AS OF 31/12/2013, 31/12/2012 AND 31/12/2011.

( FIGURES ARE IN THOUSANDS OF REAIS ).

 

ASSETS

 

 

 

CURRENT:

31/12/2013

31/12/2012

31/12/2011

 

 

 

 

CASH AND BANKS

35.339

7.157

15.718

CLIENTS

85.729

89.431

102.914

INTERCOMPANY CREDITS

15.089

20.364

11.818

INVENTORY

68.595

67.056

66.177

RECOVERABLE TAXES

7.797

11.134

11.012

DERIVATIVES OPERATIONS

 

98

 

MUTUAL CONTRACT

5.313

 

 

OTHER

2.991

4.700

1.879

 

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

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

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

TOTAL CURRENT ASSETS

220.853

199.940

209.518

 

LONG-TERM RECEIVABLES:

 

 

 

 

 

 

 

RECOVERABLE TAXES

5.209

5.760

603

MUTUAL CONTRACT

18.199

19.862

12.132

DEFERRED TAXES

643

832

12.923

JUDICIAL DEPOSITS

264

92

70

 

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

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

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

TOTAL LONG-TERM RECEIVABLES

24.315

26.546

25.728

 

FIXED ASSETS:

 

 

 

 

 

 

 

INVESTMENTS

4.300

3.820

7.402

FIXED ASSETS

66.144

72.674

58.657

INTANGIBLE

9.060

10.810

2.330

 

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

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

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

TOTAL FIXED ASSETS

79.504

87.304

68.389

 

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

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

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

TOTAL ASSETS

324.672

313.790

303.635

 

LIABILITIES:

 

 

 

CURRENT:

31/12/2013

31/12/2012

31/12/2011

 

 

 

 

SUPPLIERS

23.258

33.051

33.948

INTERCOMPANY DEBTS

9.739

6.324

2.689

TAXES & CONTRIBUTIONS

8.921

9.132

8.956

ADVANCE FROM CLIENTS

21.281

26.246

27.597

INTERESTS ON OWN CAPITAL

5.610

24.006

24.685

PROVISION FOR CONTINGENCIES

1.358

3.134

4.827

LABOR OBLIGATIONS

11.473

12.050

12.196

INCOME TAX/SOCIAL CONTRIBUTION

 

 

629

LOANS AND FINANCING

14.468

19.130

74

PROVISIONS

1.117

834

1.088

ROYALITES PAYABLE

1.047

690

1.200

DERIVATIVES OPERATIONS

 

 

396

OTHER

2.076

4.191

6.139

 

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

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

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

TOTAL CURRENT LIABILITIES

100.348

138.788

124.424

 

LONG TERM LIABILITIES:

 

 

 

 

 

 

 

DEFERRED TAXES

 

 

8.747

PROVISION FOR CONTINGENCIES

5.564

8.231

15.515

LOANS AND FINANCING

28.361

222

24

 

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

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

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

TOTAL LONG TERM LIABILITIES

33.925

8.453

24.286

 

NET EQUITY:

 

 

 

 

 

 

 

SHARE CAPITAL

66.001

63.690

57.516

PROFIT RESERVES

636

797

95.125

STATUTORY RESERVES

1.208

1.514

2.284

ACCRUED PROFIT (LOSS)

122.554

100.548

 

 

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

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

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

TOTAL NET EQUITY

190.399

166.549

154.925

 

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

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

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

TOTAL LIABILITIES

324.672

313.790

303.635

 

PROFIT AND LOSS ACCOUNTS AS OF 31/12/2013, 31/12/2012 AND 31/12/2011.

( FIGURES ARE IN THOUSANDS OF REAIS ).

 

 

31/12/2013

31/12/2012

31/12/2011

 

 

 

 

GROSS SALES

403.257

401.293

335.439

(-) TAXES ON SALES

89.709

80.613

 

 

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

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

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

NET SALES

313.548

320.680

335.439

(-) COST OF SOLD GOODS

224.610

230.972

247.604

 

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

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

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

GROSS PROFIT

88.938

89.708

87.835

OPERATING REVENUE (EXPENSE)

-70.783

-66.792

-60.223

FINANCIAL REVENUE(EXPENSE)

-694

-218

4.567

 

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

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

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

OPERATIONAL PROFIT (LOSS)

17.461

22.698

32.179

CONTRIBUTION/INCOME TAX

-4.745

-6.762

-8.135

 

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

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

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

NET PROFIT (LOSS)

12.716

15.936

24.044

 

RATIOS:

31/12/2013

31/12/2012

31/12/2011

 

QUICK RATIO

1,52

 

,96

 

1,15

 

CURRENT RATIO

2,20

 

1,44

 

1,68

 

ACCOUNTS RECEIVABLE TURNOVER

3,66

TIMES

3,59

TIMES

3,26

TIMES

DAYS' SALES IN RECEIVABLES

98,43

DAYS

100,40

DAYS

110,45

DAYS

INVENTORY TURNOVER

3,27

TIMES

3,44

TIMES

3,74

TIMES

ACCOUNTS PAYABLE PERIOD

37,28

DAYS

51,51

DAYS

49,36

DAYS

RETURN ON ASSETS

,97

TIMES

1,02

TIMES

1,10

TIMES

SALES TURNOVER ON NET EQUITY

1,65

TIMES

1,93

TIMES

2,17

TIMES

NET WORTH TIE-UP

,35

 

,44

 

,38

 

INDEBTEDNESS

,71

 

,88

 

,96

 

EQUITY RATIO

58,64

%

53,08

%

51,02

%

WORKING CAPITAL RATIO

120,09

%

44,06

%

68,39

%

GENERAL SOLVENCY

2,42

 

2,13

 

2,04

 

RETURN ON NET EQUITY

6,68

%

9,57

%

15,52

%

RETURN ON SALES (PROFIT MARGIN)

4,06

%

4,97

%

7,17

%

GROSS PROFIT MARGIN

28,37

%

27,97

%

26,19

%

OPERATIONAL RESULT

5,57

%

7,08

%

9,59

%

SALES TURNOVER ON LIABILITIES

3,12

TIMES

2,31

TIMES

2,70

TIMES

FOREIGN CURRENCY ON ASSETS

 

 

 

 

 

 

FOREIGN CURRENCY ON LIABILITIES

 

 

 

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,67

 - OFFICIAL RATE ON 29/12/2014

US$ 1,00 = R$ 2,34

 - OFFICIAL RATE ON 31/12/2013

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 A GOOD FINANCIAL STANDING. IT SHOWS GOOD LIQUIDITY RATIOS WITH POSITIVE WORKING CAPITAL AMOUNT AND SATISFACTORY LEVEL OF INDEBTEDNESS. IN ADDITION IT IS NOTED GROWING SALES AND PROFITABILITY.

 

REAL ESTATE:

 

OWNED PREMISES ARE VALUED AT R$ 8.970.000,00

 

VEHICLES:

 

   OWNED VEHICLES ARE VALUED AT R$ 881.000,00

 

MACHINES:

 

   OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 31.071.000,00

 

 

INSURANCE

 

NOT AVAILABLE.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

 

BANCO ITAU S/A

019

 

BANCO SANTANDER S/A

0040

 

BANCO DO BRASIL S/A

2900-9

 

 

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 HYDRAULIC PUMPS, WITH ITS CORE PRODUCTS BEING HYDRAULIC PUMPS, VALVES AND PARTS.

 

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

GERMANY, MEXICO, FRANCE AND ITALY.

 

 

EXPORTS TO:

GERMANY, ITALY, FRANCE, INDIA, ARGENTINA, CHILE, PERU, BELGIUM, JAPAN, MEXICO, PAKISTAN AND OTHERS.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

BOMBESA EQUIP. HIDR. LTDA.

 

 

CIA. SANEAMENTO DO ESTADO DE SÃO PAULO - SABESP

 

 

IBIRITERMO LTDA.

 

 

PETROLEO BRASILEIRO S/A

 

 

POLIBRASIL RESINAS S/A

 

 

VALE S/A

 

 

 

STAFF:

 

THE COMPANY HAS: 950 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS AN OLD-ESTABLISHED COMPANY, OPERATING SINCE 1954. SO FAR IT HAS A CLEAR TRADE HISTORY AND NO PAYMENT PROBLEMS ARE NOTED.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

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:

 

 

BELENUS DO BRASIL LTDA

 

 

BURGMANN DO BRASIL

 

 

GEVISA S/A

 

 

GRUPO WEG MAQUINAS

 

 

INTERSMART COM. IMPORTAÇÃO EXPORTAÇÃO EQUIPAMENTOS ELET.

 

 

ITT BRASIL EQUIP. BOMBEAMENTO TRATAMENTO AGUA EFLUENTE

 

 

PREDROLLO SPTA

 

 

SAVON IND. COMERCIO IMPORTAÇÃO E EXPORTAÇÃO LTDA

 

 

TESLA SRL

 

 

WEG EQUIPAMENTOS ELETRICOS S/A

 

 

 

PAYMENT HISTORY:

 

35 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 2.955.562,00

 

AMOUNT OF INVOICES PAID: 707

TOTAL OF PROMPT PAYMENTS: 97,1%

TOTAL OF DELAYED PAYMENTS: 2,9%

 

HIGHEST INVOICE: R$ 633.300,00

HIGHEST CREDIT: R$ 633.300,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 60 DAYS:

 

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

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

2

4

R$ 509.180,16

DUE WITHIN 60 DAYS

1

1

R$ 496,98

 

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS. UP TO DATE IT HAS A GOOD FINANCIAL STANDING, A CLEAR TRADE HISTORY AND GOOD PAYMENT PERFORMANCE.

 

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.

 

AN INITIAL CREDIT LIMIT OF USD 1.000.000,00 MAY BE CONSIDERED.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.75

UK Pound

1

Rs.98.88

Euro

1

Rs.77.32

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ANK

 

 

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.