MIRA
INFORM REPORT
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Report Date : |
28.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ANADOLU ILAC VE KIMYA SANAYI A.S. |
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Registered Office : |
Hastane Cad. Belediye Ishani Kat:7 No:25 Meram-Konya/ |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1997 (Commercial Registry Gazette Date/No:25.06.1997/4318) |
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Com. Reg. No.: |
19944 |
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Legal Form : |
Private Limited |
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Line of Business : |
Trade of veterinary medicines |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY IDENTIFICATION
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NAME |
: |
ANADOLU ILAC VE KIMYA SANAYI A.S. |
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ADDRESS |
: |
Head Office: Hastane Cad. Belediye Ishani Kat:7 No:25
Meram-Konya/Turkey |
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PHONE NUMBER |
: |
90-332-237 34 37 |
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FAX NUMBER |
: |
90-332-237 34 71 |
LEGAL STATUS AND HISTORY
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TAX OFFICE / NO |
: |
Meram/0680113728 |
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REGISTRATION NUMBER |
: |
19944 |
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REGISTERED OFFICE |
: |
Konya Chamber of Commerce |
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DATE ESTABLISHED |
: |
1997 (Commercial Registry Gazette Date/No:25.06.1997/4318) |
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LEGAL FORM |
: |
Joint Stock Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
YTL 150,000 |
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PAID-IN CAPITAL |
: |
YTL 78,750 (As of 31.12.2006) |
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HISTORY |
: |
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Previous Registered Capital |
:YTL 50,000 |
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Regist. Capital Changed on |
: 23.03.2005 (Commercial Registry Gazette Date/No: 31.03.2005/6272 ) |
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OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
Konvet Ecza Deposu Tic. ve San. A.S. Mehmet Ozdemir Adnan Keskin Halimullah Gultekin Ahmet Sanli Mustafa Guruler |
95 % 1 % 1 % 1 % 1 % 1 % |
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SISTER COMPANIES |
: |
- Konvet Ecza Deposu Tic. ve San. A.S. |
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GROUP PARENT COMPANY |
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None |
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SUBSIDIARIES |
: |
None |
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BOARD OF DIRECTORS |
: |
Adnan Keskin Mehmet Ozdemir Ahmet Sanli |
Chairman Vice-Chairman Member |
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OPERATIONS
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BUSINESS ACTIVITIES |
: |
Trade of veterinary medicines |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
7 |
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NET SALES |
: |
(YTL) 299,145 544,555 481,584 |
(2005) (2006) (2007) |
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IMPORT COUNTRIES |
: |
Germany |
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MERCHANDISE IMPORTED |
: |
Raw materials |
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EXPORT |
: |
None |
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PREMISES |
: |
Head Office: Hastane Cad. Belediye Ishani Kat:7 No:25 Meram-Konya |
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TREND OF BUSINESS |
: |
There was an upwards trend at business volume in 2006 but there was a
decline at sales volume in nominal terms in 2007. |
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SIZE OF BUSINESS |
: |
Small |
FINANCE
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MAIN DEALING BANKERS |
: |
Akbank Nalcaci branch in Konya Albaraka Turk Katilim Bankasi Konya branch in
Konya |
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CREDIT FACILITIES |
: |
The subject company is making use of credit facilities |
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PAYMENT BEHAVIOUR |
: |
We are informed about a few payment delays in the last years but most of
them were resolved later on. |
COMMENT ON FINANCIAL POSITION
FINANCIAL STRUCTURE (SUFFICENCY OF OWN RESOURCES)
In order
As
of 31.12.2006
LIQUIDITY
Low
As
of 31.12.2006
PROFITABILITY
High In 2006 High
In
2007
GAP BETWEEN COLLECTION-PAYMENT
PERIODS
Favorable
In
2006
GENERAL FINANCIAL
POSITION
Capitalization was in order but liquidity was low as of 31.12.2006.
Profitability was high in 2006 and 2007.
CREDIT OPINION
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CREDIT OPINION WITHOUT OBLIGATION |
: |
We are of the opinion that, a max. credit of USD 45,000 may be granted
to the subject company. |
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Incr. in producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
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(2005) |
2.66 % |
1.3499 |
1.6882 |
2.4623 |
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(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
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(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
BALANCE SHEETS
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YTL |
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31.12.06 |
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CURRENT ASSETS |
294.461 |
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0,86 |
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Cash and
Banks |
54.824 |
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0,16 |
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Marketable Securities |
0 |
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0,00 |
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Account
Receivable |
0 |
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0,00 |
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Other
Receivable |
0 |
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0,00 |
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Inventories |
152.062 |
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0,45 |
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Advances
Given |
20.932 |
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0,06 |
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Other
Current Assets |
66.643 |
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0,20 |
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NON-CURRENT ASSETS |
46.787 |
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0,14 |
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Long-term
Receivable |
0 |
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0,00 |
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Financial
Assets |
0 |
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0,00 |
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Tangible
Fixed Assets (net) |
45.774 |
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0,13 |
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Intangible Assets |
1.013 |
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0,00 |
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Other
Non-Current Assets |
0 |
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0,00 |
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TOTAL ASSETS |
341.248 |
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1,00 |
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CURRENT LIABILITIES |
176.053 |
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0,52 |
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Financial
Loans |
0 |
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0,00 |
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Accounts
Payable |
39.024 |
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0,11 |
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Loans
from Shareholders |
0 |
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0,00 |
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Other
Short-term Payable |
0 |
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0,00 |
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Advances
from Customers |
130.585 |
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0,38 |
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Taxes
Payable |
3.470 |
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0,01 |
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Provisions |
2.974 |
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0,01 |
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Other
Current Liabilities |
0 |
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0,00 |
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LONG-TERM LIABILITIES |
0 |
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0,00 |
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Financial
Loans |
0 |
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0,00 |
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Securities Issued |
0 |
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0,00 |
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Long-term
Payable |
0 |
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0,00 |
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Loans
from Shareholders |
0 |
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0,00 |
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Other
Long-term Liabilities |
0 |
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0,00 |
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Provisions |
0 |
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0,00 |
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STOCKHOLDERS' EQUITY |
165.195 |
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0,48 |
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Paid-in
Capital |
78.750 |
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0,23 |
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Inflation
Adjustment of Capital |
70.979 |
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0,21 |
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Reserves |
21.207 |
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0,06 |
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Revaluation
Fund |
0 |
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0,00 |
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Accumulated Losses(-) |
-49.925 |
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-0,15 |
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Net
Profit (loss) |
44.184 |
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0,13 |
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TOTAL LIABILITIES AND EQUITY |
341.248 |
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1,00 |
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INCOME
STATEMENTS
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YTL |
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YTL |
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2006 |
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2007 |
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Net Sales |
544.555 |
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1,00 |
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481.584 |
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1,00 |
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Cost of
Goods Sold |
376.512 |
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0,69 |
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366.118 |
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0,76 |
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Gross Profit |
168.043 |
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0,31 |
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115.466 |
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0,24 |
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Operating
Expenses |
113.178 |
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0,21 |
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70.872 |
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0,15 |
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Operating Profit |
54.865 |
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0,10 |
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44.594 |
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0,09 |
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Other
Income |
4.391 |
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0,01 |
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5.488 |
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0,01 |
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Other
Expenses |
399 |
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0,00 |
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1.734 |
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0,00 |
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Financial
Expenses |
3.545 |
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0,01 |
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1.843 |
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0,00 |
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Profit (loss) Before Tax |
55.312 |
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0,10 |
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46.505 |
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0,10 |
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Tax
Payable |
11.128 |
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0,02 |
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0 |
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0,00 |
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Net Profit (loss) |
44.184 |
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0,08 |
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46.505 |
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0,10 |
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The income statement of 31.12.2007 has not become
certain yet.
FINANCIAL
RATIOS
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2006 |
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2007 |
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LIQUIDITY RATIOS |
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Current Ratio |
1,67 |
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-- |
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Acid-Test Ratio |
0,31 |
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-- |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,45 |
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-- |
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Short-term Receivable/Total Assets |
0,00 |
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-- |
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Tangible Assets/Total Assets |
0,13 |
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-- |
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TURNOVER RATIOS |
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Inventory Turnover |
2,48 |
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-- |
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Stockholders' Equity Turnover |
3,30 |
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-- |
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Asset Turnover |
1,60 |
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-- |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,48 |
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-- |
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Current Liabilities/Total Assets |
0,52 |
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-- |
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Financial Leverage |
0,52 |
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-- |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,27 |
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-- |
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Operating Profit Margin |
0,10 |
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0,09 |
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Net Profit Margin |
0,08 |
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0,10 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
0,00 |
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-- |
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Average Payable Period (days) |
37,31 |
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-- |
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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. |
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%)