MIRA
INFORM REPORT
|
Report Date : |
18.08.2011 |
IDENTIFICATION DETAILS
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Name : |
ISIK PLY DIS VE IC TICARET INSAAT TAAHHUT NAKLIYAT OTOMOTIV LTD. STI. |
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Registered Office : |
Atisan Sanayi Sitesi 31. Cad. No:52 Yenimahalle Ankara |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.02.2008 |
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Com. Reg. No.: |
248732 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trade of scaffolding. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 63.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Turkey |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
COMPANY IDENTIFICATION
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NAME |
: |
ISIK PLY DIS VE IC TICARET INSAAT TAAHHUT NAKLIYAT OTOMOTIV LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Atisan Sanayi Sitesi 31. Cad. No:52 Yenimahalle Ankara / Turkey |
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PHONE NUMBER |
: |
90-312-385 08 89 |
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FAX NUMBER |
: |
90-312-385 54 09 |
LEGAL STATUS AND HISTORY
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TAX OFFICE |
: |
Ostim |
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TAX NO |
: |
4670528815 |
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REGISTRATION NUMBER |
: |
248732 |
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REGISTERED OFFICE |
: |
Ankara Chamber of Commerce |
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DATE ESTABLISHED |
: |
04.02.2008 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
07.02.2008/6994 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 800.000 |
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HISTORY |
: |
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OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
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SUBSIDIARIES |
: |
None |
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DIRECTORS |
: |
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OPERATIONS
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BUSINESS ACTIVITIES |
: |
Trade of scaffolding. |
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SECTOR |
: |
Commerce |
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DISTRIBUTOR OF |
: |
JWR (India) Welde (Austria) |
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NUMBER OF EMPLOYEES |
: |
3 |
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NET SALES |
: |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT COUNTRIES |
: |
India China Bulgaria Austria |
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MERCHANDISE IMPORTED |
: |
Plywood |
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HEAD OFFICE ADDRESS |
: |
Atisan Sanayi Sitesi 31. Cad. No:52 Yenimahalle Ankara / Turkey |
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BRANCHES |
: |
Store : 1568 Cad. No:52 Macunkoy Ostim Ankara/Turkey
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TREND OF
BUSINESS |
: |
There was an
upwards trend in 2010. There appears
an upwards trend in 1.1 - 30.6.2011. |
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SIZE OF BUSINESS |
: |
Moderate |
FINANCE
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MAIN DEALING BANKS |
: |
T. Is Bankasi Cayyolu Branch Turkiye Finans Katilim Bankasi Ostim Branch |
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CREDIT FACILITIES |
: |
The subject company is making active use of credit facilities. |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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KEY FINANCIAL ELEMENTS |
: |
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COMMENT ON FINANCIAL POSITION
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Capitalization |
Insufficient As
of 31.12.2010 |
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Liquidity |
Good As of
31.12.2010 |
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Remarks On
Liquidity |
The unfavorable
gap between average collection and average payable period has an adverse
effect on liquidity. |
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Profitability |
In Order
Operating Profitability in 2010 In Order Net
Profitability in 2010 In Order
Operating Profitability (01.01-30.06.2011) Good Net
Profitability (01.01-30.06.2011) |
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Gap between
average collection and payable periods |
Unfavorable in
2010 |
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General
Financial Position |
Passable |
CREDIT OPINION WITHOUT OBLIGATION
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CREDIT LIMIT |
: |
63.000 USD |
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CREDIT OPINION WITHOUT OBLIGATION |
: |
We are of the opinion that, a max. credit of 63.000 USD may be granted
to the subject company. |
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|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
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( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
|
( 01.01-30.06.2011) |
6,21 % |
1,5771 |
2,2246 |
2,5422 |
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( 01.01-31.07.2011) |
6,18 % |
1,5901 |
2,2465 |
2,5668 |
BALANCE SHEETS
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( 31.12.2010 ) TL |
|
|
CURRENT ASSETS |
1.564.537 |
0,89 |
|
Not Detailed
Current Assets |
0 |
0,00 |
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Cash and Banks |
526.847 |
0,30 |
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Marketable
Securities |
0 |
0,00 |
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Account
Receivable |
466.211 |
0,26 |
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Other Receivable |
0 |
0,00 |
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Inventories |
243.000 |
0,14 |
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Advances Given |
168.486 |
0,10 |
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Accumulated
Construction Expense |
0 |
0,00 |
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Other Current
Assets |
159.993 |
0,09 |
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NON-CURRENT
ASSETS |
203.268 |
0,11 |
|
Not Detailed
Non-Current Assets |
0 |
0,00 |
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Long-term
Receivable |
0 |
0,00 |
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Financial Assets |
0 |
0,00 |
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Tangible Fixed
Assets (net) |
203.268 |
0,11 |
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Intangible
Assets |
0 |
0,00 |
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Deferred Tax
Assets |
0 |
0,00 |
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Other
Non-Current Assets |
0 |
0,00 |
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TOTAL ASSETS |
1.767.805 |
1,00 |
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CURRENT
LIABILITIES |
1.359.711 |
0,77 |
|
Not Detailed
Current Liabilities |
0 |
0,00 |
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Financial Loans |
1.202.958 |
0,68 |
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Accounts Payable |
143.506 |
0,08 |
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Loans from
Shareholders |
0 |
0,00 |
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Other Short-term
Payable |
0 |
0,00 |
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Advances from
Customers |
0 |
0,00 |
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Accumulated Construction
Income |
0 |
0,00 |
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Taxes Payable |
13.247 |
0,01 |
|
Provisions |
0 |
0,00 |
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Other Current
Liabilities |
0 |
0,00 |
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LONG-TERM
LIABILITIES |
0 |
0,00 |
|
Not Detailed
Long-term Liabilities |
0 |
0,00 |
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Financial Loans |
0 |
0,00 |
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Securities
Issued |
0 |
0,00 |
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Long-term
Payable |
0 |
0,00 |
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Loans from
Shareholders |
0 |
0,00 |
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Other Long-term
Liabilities |
0 |
0,00 |
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Provisions |
0 |
0,00 |
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STOCKHOLDERS'
EQUITY |
408.094 |
0,23 |
|
Not Detailed
Stockholders' Equity |
0 |
0,00 |
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Paid-in Capital |
252.451 |
0,14 |
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Cross
Shareholding Adjustment of Capital |
0 |
0,00 |
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Inflation
Adjustment of Capital |
0 |
0,00 |
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Equity of
Consolidated Firms |
0 |
0,00 |
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Reserves |
25.854 |
0,01 |
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Revaluation Fund |
0 |
0,00 |
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Accumulated Losses(-) |
0 |
0,00 |
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Net Profit
(loss) |
129.789 |
0,07 |
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TOTAL
LIABILITIES AND EQUITY |
1.767.805 |
1,00 |
INCOME STATEMENTS
|
|
(2010) TL |
|
(01.01-30.06.2011)
TL |
|
|
Net Sales |
4.702.568 |
1,00 |
4.156.772 |
1,00 |
|
Cost of Goods
Sold |
4.140.863 |
0,88 |
3.721.187 |
0,90 |
|
Gross Profit |
561.705 |
0,12 |
435.585 |
0,10 |
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Operating
Expenses |
396.838 |
0,08 |
211.277 |
0,05 |
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Operating Profit |
164.867 |
0,04 |
224.308 |
0,05 |
|
Other Income |
7.926 |
0,00 |
25.295 |
0,01 |
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Other Expenses |
10.557 |
0,00 |
0 |
0,00 |
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Financial
Expenses |
0 |
0,00 |
0 |
0,00 |
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Minority
Interests |
0 |
0,00 |
0 |
0,00 |
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Profit (loss) of
consolidated firms |
0 |
0,00 |
0 |
0,00 |
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Profit (loss) Before
Tax |
162.236 |
0,03 |
249.603 |
0,06 |
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Tax Payable |
32.447 |
0,01 |
0 |
0,00 |
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Postponed Tax
Gain |
0 |
0,00 |
0 |
0,00 |
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Net Profit
(loss) |
129.789 |
0,03 |
249.603 |
0,06 |
FINANCIAL
RATIOS
|
|
(2010) |
|
LIQUIDITY RATIOS |
|
|
Current Ratio |
1,15 |
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Acid-Test Ratio |
0,73 |
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Cash Ratio |
0,39 |
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ASSET STRUCTURE
RATIOS |
|
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Inventory/Total
Assets |
0,14 |
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Short-term
Receivable/Total Assets |
0,26 |
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Tangible
Assets/Total Assets |
0,11 |
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TURNOVER RATIOS |
|
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Inventory Turnover |
17,04 |
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Stockholders'
Equity Turnover |
11,52 |
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Asset Turnover |
2,66 |
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FINANCIAL
STRUCTURE |
|
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Stockholders'
Equity/Total Assets |
0,23 |
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Current
Liabilities/Total Assets |
0,77 |
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Financial
Leverage |
0,77 |
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Gearing
Percentage |
3,33 |
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PROFITABILITY
RATIOS |
|
|
Net
Profit/Stockholders' Eq. |
0,32 |
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Operating Profit
Margin |
0,04 |
|
Net Profit
Margin |
0,03 |
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Interest Cover |
|
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COLLECTION-PAYMENT |
|
|
Average
Collection Period (days) |
35,69 |
|
Average Payable
Period (days) |
12,48 |
|
WORKING CAPITAL |
204826,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.37 |
|
|
1 |
Rs.74.56 |
|
Euro |
1 |
Rs.65.33 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.