MIRA
INFORM REPORT
|
Report Date : |
21.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
METDEM SAGLIK GERECLERI METIN DEMIR |
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Registered Office : |
Trakya Ser. Bol. (Free Zone) F. Pasa Mah. S.Y. mav. 18-N Pft 272 Ada
12 Par. K:3 Catalca Istanbul |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
24.08.1999 |
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Com. Reg. No.: |
424865 |
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Legal Form : |
Sole-Proprietorship |
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Line of Business : |
Trader of Medical Consumables and Devices |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
USD 150.000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY IDENTIFICATION
|
NAME |
: |
METDEM SAGLIK GERECLERI METIN DEMIR |
|
ADDRESS |
: |
Head Office: Trakya Ser. Bol. (Free Zone)
F. Pasa Mah. S.Y. mav. 18-N Pft 272 Ada 12 Par. K:3 Catalca Istanbul / Turkey Administrative Office: Gazi Mahallesi
Senol Caddesi Mumtaz Gumus Sok. No:6 Yenimahalle Ankara / Turkey |
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PHONE NUMBER |
: |
90-212-786 61 17 90-312-211 20 20 |
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FAX NUMBER |
: |
90-212-786 61 18 90-312-211 14 14 |
LEGAL STATUS AND HISTORY
|
TAX OFFICE / NO |
: |
Catalca / 18931910046 |
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REGISTRATION NUMBER |
: |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
24.08.1999 (Commercial Registry Gazette
Date/No: 31.08.1999/4866) |
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LEGAL FORM |
: |
Sole-Proprietorship |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
The liability of the sole-proprietorships
is not limited to the capital. The owners of the sole-proprietorships are
responsible for the debts of the sole-proprietorships with all of their
personal wealth. |
OWNERSHIP / MANAGEMENT
|
SHAREHOLDERS |
: |
Metin Demir |
100 % |
|
REMARKS ON
SHAREHOLDERS |
: |
The owner, Metin Demir was born in 1963
and graduated from university. |
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PROPERTIES OWNED BY THE OWNER/PARTNERS |
: |
The head office of the subject |
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SISTER COMPANIES |
: |
Metdem Saglik Gerecleri Ltd Sti |
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DIRECTORS |
: |
Metin Demir |
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OPERATIONS
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BUSINESS
ACTIVITIES |
: |
Trade of medical consumables and devices |
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SECTOR |
: |
Commerce |
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DISTRIBUTOR OF |
: |
Eastern Medikit Ltd (India) Angiplast Private Ltd (India) Hindustan Latex Ltd (India) |
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NUMBER OF
EMPLOYEES |
: |
2 |
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NET SALES |
: |
(YTL) 10.113.457 7.150.444 869.931 |
(2006) (2007) (01.01-30.06.2008) |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT VALUE |
: |
(USD) 5.950.000 4.611.000 512.000 |
(2006) (2007) (01.01-30.06.2008) |
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IMPORT COUNTRIES |
: |
India |
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MERCHANDISE
IMPORTED |
: |
Medical consumables |
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EXPORT VALUE |
: |
(YTL) 10.113.457 7.150.444 869.931 |
(2006) (2007) (01.01-30.06.2008) |
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REMARKS ON
EXPORT |
: |
As the subject company is located at
"Free Zone" all of its sales are regarded as exports. |
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PREMISES |
: |
Head Office: Trakya Ser. Bol. (Free Zone)
F. Pasa Mah. S.Y. mav. 18-N Pft 272 Ada 12 Par. K:3 Catalca Istanbul (owned) Administrative Office: Gazi Mahallesi
Senol Caddesi Mumtaz Gumus Sok. No:6 Yenimahalle Ankara |
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FIXED CAPITAL
INVESTMENTS |
: |
None |
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TREND OF
BUSINESS |
: |
There was a decline at sales volume in
nominal terms in 2007 and there also appears a downwards trend in the first 6
months of 2008. |
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SIZE OF BUSINESS |
: |
Upper-moderate |
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FINANCE
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MAIN DEALING BANKERS |
: |
Sekerbank Kucukesat branch in Ankara HSBC Bank Balgat branch in Ankara Akbank Ankara Ticari branch in Ankara |
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CREDIT FACILITIES |
: |
No credit facility has come to our
knowledge. |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
COMMENT ON FINANCIAL POSITION
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FINANCIAL
STRUCTURE (SUFFICENCY OF OWN RESOURCES) |
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The capitalization was fair as of 31.12.2007.It has to be noted that,
the liability of the sole-proprietorships is not limited to the capital. The
owners of the sole-proprietorships are responsible for the debts of the
sole-proprietorships with all of their personal wealth. We are informed that
the owner possesses the head office of the subject and also has shares at a
limited company. |
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LIQUIDITY |
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Liquidity ratios were high but the current assets was consisting
mainly of receivables, subject has a very low amount of cash & banks as
of 31.12.2007. |
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PROFITABILITY |
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High |
In 2007 |
High Operating Profit Net Loss |
Between 01.01.-30.06.2008 |
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GAP BETWEEN
COLLECTION-PAYMENT PERIODS |
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Favorable |
In 2007 |
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GENERAL
FINANCIAL POSITION |
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Passable |
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CREDIT OPINION
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CREDIT
OPINION WITHOUT OBLIGATION |
: |
We
are of the opinion that, a max. credit of USD 150.000 may be granted to the
subject company. |
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|
Incr. in
producers’ price index |
Average YTL/$ |
Average YTL/EUR |
Average YTL/GBP |
|
(2006) |
11.58 % |
1.4309 |
1.7987 |
2.6377 |
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(2007) |
5.94 % |
1.3075 |
1.7901 |
2.6133 |
|
(1.1.-30.06.2008) |
13.76 % |
1.2197 |
1.8695 |
2.4232 |
|
(1.1.-30.09.2008) |
11.48 % |
1.2146 |
1.8490 |
2.3755 |
BALANCE SHEETS
|
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YTL |
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|
31.12.07 |
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CURRENT ASSETS |
3.341.541 |
|
0,96 |
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Cash and
Banks |
1.712 |
|
0,00 |
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Marketable Securities |
0 |
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0,00 |
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Account
Receivable |
52.453 |
|
0,02 |
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Other
Receivable |
2.774.736 |
|
0,80 |
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Inventories |
512.640 |
|
0,15 |
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Advances
Given |
0 |
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0,00 |
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Other
Current Assets |
0 |
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0,00 |
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NON-CURRENT ASSETS |
130.464 |
|
0,04 |
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Long-term
Receivable |
0 |
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0,00 |
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Financial
Assets |
0 |
|
0,00 |
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Tangible
Fixed Assets (net) |
129.605 |
|
0,04 |
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Intangible Assets |
0 |
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0,00 |
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Other
Non-Current Assets |
859 |
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0,00 |
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TOTAL ASSETS |
3.472.005 |
|
1,00 |
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CURRENT LIABILITIES |
2.434.382 |
|
0,70 |
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Financial
Loans |
0 |
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0,00 |
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Accounts
Payable |
2.068.165 |
|
0,60 |
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Loans
from Owner |
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 |
364.408 |
|
0,10 |
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Taxes Payable |
1.809 |
|
0,00 |
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Provisions |
0 |
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0,00 |
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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 |
|
0,00 |
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Loans
from Owner |
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 |
1.037.623 |
|
0,30 |
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TOTAL LIABILITIES AND EQUITY |
3.472.005 |
|
1,00 |
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INCOME
STATEMENTS
|
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YTL |
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YTL |
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|
2007 |
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01.01.-30.06.2008 |
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Net Sales |
7.150.444 |
|
1,00 |
|
869.931 |
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1,00 |
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Cost of
Goods Sold |
6.485.062 |
|
0,91 |
|
688.576 |
|
0,79 |
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Gross Profit |
665.382 |
|
0,09 |
|
181.355 |
|
0,21 |
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Operating
Expenses |
226.809 |
|
0,03 |
|
58.155 |
|
0,07 |
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Operating Profit |
438.573 |
|
0,06 |
|
123.200 |
|
0,14 |
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Other
Income |
652.055 |
|
0,09 |
|
121.553 |
|
0,14 |
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Other
Expenses |
91.728 |
|
0,01 |
|
253.529 |
|
0,29 |
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Financial
Expenses |
11.277 |
|
0,00 |
|
2.624 |
|
0,00 |
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Profit (loss) Before Tax |
987.623 |
|
0,14 |
|
-11.400 |
|
-0,01 |
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Tax
Payable |
0 |
|
0,00 |
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0 |
|
0,00 |
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Net Profit (loss) |
987.623 |
|
0,14 |
|
-11.400 |
|
-0,01 |
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FINANCIAL
RATIOS
|
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2007 |
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01.01.-30.06.2008 |
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LIQUIDITY RATIOS |
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Current Ratio |
1,37 |
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|
-- |
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Acid-Test Ratio |
1,16 |
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-- |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,15 |
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|
-- |
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Short-term Receivable/Total Assets |
0,81 |
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|
-- |
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Tangible Assets/Total Assets |
0,04 |
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|
-- |
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TURNOVER RATIOS |
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Inventory Turnover |
12,65 |
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|
-- |
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Stockholders' Equity Turnover |
6,89 |
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|
-- |
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Asset Turnover |
2,06 |
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|
-- |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,30 |
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|
-- |
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Current Liabilities/Total Assets |
0,70 |
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|
-- |
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Financial Leverage |
0,70 |
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|
-- |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,95 |
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|
-- |
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Operating Profit Margin |
0,06 |
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|
0,14 |
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Net Profit Margin |
0,14 |
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|
-0,01 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
2,64 |
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|
-- |
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Average Payable Period (days) |
114,81 |
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|
-- |
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FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.83 |
|
UK Pound |
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.65.86 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)