MIRA INFORM REPORT

 

 

Report Date :           

25.08.2011

 

IDENTIFICATION DETAILS

 

Name :

DILER DEMIR CELIK ENDUSTRI VE TICARET A.S.

 

 

Registered Office :

Tersane Cad. No: 96 Diler Han Karakoy Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

02.07.1980

 

 

Com. Reg. No.:

174043

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of raw steel, steel bars and iron to be used at construction

 

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 :

No Complaints

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)

Turkey

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

COMPANY IDENTIFICATION

 

NAME

:

DILER DEMIR CELIK ENDUSTRI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Tersane Cad. No: 96 Diler Han Karakoy Istanbul / Turkey

PHONE NUMBER

:

90-212-253 66 30 (16 lines)

 

FAX NUMBER

:

90-212-235 98 87

90-212-250 83 32

 

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Buyuk Mukellefler

TAX NO

:

2970031653

REGISTRATION NUMBER

:

174043

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

02.07.1980

ESTABLISHMENT GAZETTE DATE/NO

:

17.07.1980/44

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   150.000.000

PAID-IN CAPITAL

:

TL   150.000.000

HISTORY

:

Previous Registered Capital

:

TL 101.000.000

Changed On

:

16.12.2003 (Commercial Gazette Date /Number 19.12.2003/ 5950)

Previous Registered Capital

:

TL 144.000.000

Changed On

:

31.12.2004 (Commercial Gazette Date /Number 06.01.2005/ 6214)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Diler Elektrik Uretim A.S.

 

Diler Denizcilik ve Ticaret A.S.

 

Heirs of Recep Sami Yazici

 

Resa Demir Sanayi ve Ticaret A.S.

 

Delstar Investments LLC (USA)

 

Diler Holding A.S.

 

Yazici Demir Celik Sanayi Ve Turizm Ticaret A.S.

 

Diler Dis Ticaret A.S.

 

Diler Ahsap Pazarlama Sanayi Ve Ticaret A.S.

 

Others

 

 

 

GROUP PARENT COMPANY

:

DILER HOLDING A.S.

 

SISTER COMPANIES

:

ASIL CELIK SANAYI VE TICARET A.S.

ASYA GAYRIMENKUL YONETIM VE TICARET A.S.

ATLAS ENERJI URETIM A.S.

ATLAS TURIZM YATIRIMLARI VE TICARET A.S.

BELEK SAGLIK HIZMETLERI VE TURIZM YATIRIM SANAYI VE TICARET A.S.

BODOVA TURIZM YATCILIK SANAYI VE TICARET A.S.

DILER AHSAP PAZARLAMA SANAYI VE TICARET A.S.

DILER DENIZCILIK ISLETMELERI A.S.

DILER DENIZCILIK VE TICARET A.S.

DILER DENIZCILIK YATIRIMLARI A.S.

DILER DIS TICARET A.S.

DILER ELEKTRIK PAZARLAMA A.S.

DILER ELEKTRIK URETIM A.S.

DILER FERIBOT ISLETMECILIGI VE TURIZM A.S.

DILER GEMI KIRALAMA VE ISLETMECILIGI TICARET A.S.

DILER HOLDING A.S.

DILER YATIRIM BANKASI A.S.

ETI TOPRAK ENDUSTRISI VE TICARET A.S.

FARUK DENIZCILIK SANAYI VE TICARET A.S.

GEBZE KIMYA SANAYI VE TICARET A.S.

GENELTEKS TEKSTIL URUNLERI TICARET VE SANAYI A.S.

GRUP DENIZCILIK VE TICARET A.S.

KORFEZ DENIZCILIK VE TICARET A.S.

MIMSAN INSAAT VE MONTAJ SANAYI A.S.

OK DENIZCILIK VE TICARET A.S.

RESA DEMIR SANAYI VE TICARET A.S.

SARIYER INSAAT SANAYI VE TICARET A.S.

TEKIN INSAAT VE TICARET A.S.

UCLER DENIZCILIK VE TICARET A.S.

YAZICI DEMIR CELIK SANAYI VE TURIZM TICARET A.S.

YAZICI GURIS PARSAN DEMIR CELIK SANAYI VE TICARET A.S.

YILTEKS MENSUCAT SANAYI VE TICARET A.S.

 

SUBSIDIARIES

:

ASIL CELIK SANAYI VE TICARET A.S.

ATLAS ENERJI URETIM A.S.

DILER AHSAP PAZARLAMA SANAYI VE TICARET A.S.

DILER DIS TICARET A.S.

DILER ELEKTRIK PAZARLAMA A.S.

DILER ELEKTRIK URETIM A.S.

DILER FERIBOT ISLETMECILIGI VE TURIZM A.S.

DILER GEMI KIRALAMA VE ISLETMECILIGI TICARET A.S.

DILER HOLDING A.S.

ETI TOPRAK ENDUSTRISI VE TICARET A.S.

GENELTEKS TEKSTIL URUNLERI TICARET VE SANAYI A.S.

GRUP DENIZCILIK VE TICARET A.S.

KORFEZ DENIZCILIK VE TICARET A.S.

OK DENIZCILIK VE TICARET A.S.

RESA DEMIR SANAYI VE TICARET A.S.

TEKIN INSAAT VE TICARET A.S.

YAZICI DEMIR CELIK SANAYI VE TURIZM TICARET A.S.

 

BOARD OF DIRECTORS

:

Fatma Tuba Yazici

Chairman

Fikret Kuzucu

Vice-Chairman

Murat Yavuz

Member

Serkan Taktaklar

Member

Cenk Aklan

Member

Ibrahim Pektas

Member

Altug Ince

Member

 

 

DIRECTORS

:

Ahmet Tastekin                                                                                                                                                                                                                                                                                   

 

Erdinc Ulusoy                                                                                                                                                                                                                                                                                   

 

Levent San                                                                                                                                                                                                                                                                                   

 

Serpil Sebe                                                                                                                                                                                                                                                                                   

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of raw steel, steel bars and iron to be used at construction.  

 

NACE CODE

:

DJ.27.10

 

NUMBER OF EMPLOYEES

:

900

 

REMARKS ON NUMBER OF EMPLOYEES

:

The number of employees also includes sub-contractors.

NET SALES

:

10.792 TL Thousand

(1996) 

20.301 TL Thousand

(1997) 

33.422 TL Thousand

(1998) 

46.068 TL Thousand

(1999) 

51.134 TL Thousand

(2000) 

224.570 TL Thousand

(2001) 

358.040 TL Thousand

(2002) 

471.943 TL Thousand

(2003) 

747.690 TL Thousand

(2004) 

660.282 TL Thousand

(2005) 

851.834.381 TL

(2006) 

955.249.543 TL

(2007) 

1.241.358.836 TL

(2008) 

913.889.497 TL

(2009) 

1.217.159.335 TL

(2010) 

 

 

IMPORT VALUE

:

59.018.834 USD

(1996)

57.306.515 USD

(1997)

54.620.814 USD

(1998)

67.000.000 USD

(1999)

55.000.000 USD

(2000)

133.000.000 USD

(2001)

126.000.000 USD

(2002)

147.000.000 USD

(2003)

354.100.000 USD

(2004)

273.000.000 USD

(2005)

324.359.732 USD

(2006)

439.000.000 USD

(2007)

617.000.000 USD

(2008)

304.000.000 USD

(2009)

 

 

IMPORT COUNTRIES

:

Russia

Ukraine

Germany

Netherlands

Belgium

Japan

Romania

Georgia

U.S.A.

 

MERCHANDISE IMPORTED

:

Electrode

Investment goods

Iron

Scrap iron

Spare parts

 

 

EXPORT VALUE

:

43.302.672 USD

(1996)

33.651.380 USD

(1997)

41.282.522 USD

(1998)

19.226.426 TL

(1999)

27.815.917 TL

(2000)

188.786.096 TL

(2001)

192.000.000 USD

(2002)

228.000.000 USD

(2003)

600.749.000 TL

(2004)

460.670.000 TL

(2005)

560.509.000 TL

(2006)

719.503.000 TL

(2007)

969.176.562 TL

(2008)

665.593.586 TL

(2009)

929.286.517 TL

(2010)

 

 

EXPORT COUNTRIES

:

Poland

Austria

Egypt

Kuwait

Israel

Taiwan

Italy

Tunisia

Brazil

Malaysia

 

MERCHANDISE  EXPORTED

:

Carbon electrodes

 

HEAD OFFICE ADDRESS

:

Tersane Cad. No: 96 Diler Han Karakoy  Istanbul / Turkey ( owned )

 

BRANCHES

:

Other  :  The company also owns lands in Gebze Kocaeli/Turkey

 

Factory  :  Dilovasi Celik Tesisleri 42455 Kocaeli/Turkey (owned)

                                                                                

 

 

TREND OF BUSINESS

:

There was an upwards trend in 2010.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Bati Kurumsal Branch

Denizbank Istanbul Kurumsal Branch

Finansbank Merkez Branch

Garanti Bankasi Istanbul Kurumsal Branch

HSBC Bank Esentepe Branch

ING Bank Mecidiyekoy Branch

T. Vakiflar Bankasi Avrupa Kurumsal Branch

Turk Ekonomi Bankasi Esentepe Branch

Yapi ve Kredi Bankasi Esentepe Branch

 

CREDIT FACILITIES

:

The subject company is making use of credit facilities.

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

KEY FINANCIAL ELEMENTS

:

 

(2006) TL

(2007) TL

(2008) TL

(2009) TL

(2010) TL

Net Sales

851.834.381

955.249.543

1.241.358.836

913.889.497

1.217.159.335

Profit (Loss) Before Tax

106.328.132

50.655.213

88.778.152

3.208.447

-28.395.707

Stockholders' Equity

312.553.866

354.315.216

428.474.957

432.646.601

404.250.894

Total Assets

461.617.892

613.118.511

915.030.069

827.821.403

979.773.868

Current Assets

261.658.603

279.605.094

471.105.216

341.165.841

412.754.226

Non-Current Assets

199.959.289

333.513.417

443.924.853

486.655.562

567.019.642

Current Liabilities

142.486.616

208.584.873

419.619.568

317.458.078

379.404.684

Long-Term Liabilities

6.577.410

50.218.422

66.935.544

77.716.724

196.118.290

Gross Profit (loss)

144.413.255

75.457.743

192.437.873

11.904.326

6.373.826

Operating Profit (loss)

132.221.025

59.641.889

173.603.175

-5.804.963

-15.065.344

Net Profit (loss)

87.136.176

41.714.337

74.159.741

2.247.389

-28.395.707

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Satisfactory As of 31.12.2010

Liquidity

Fair As of 31.12.2010

Remarks On Liquidity

The favorable gap between average collection and average payable period has a positive effect on liquidity.

Profitability

High Operating Profitability  in 2006

High Net Profitability  in 2006

Good Operating Profitability  in 2007

Good Net Profitability  in 2007

High Operating Profitability  in 2008

High Net Profitability  in 2008

Operating Loss  in 2009

Low Net Profitability  in 2009

Operating Loss  in 2010

Net Loss  in 2010

 

Gap between average collection and payable periods

Favorable in 2010

General Financial Position

Unsatisfactory

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 1998 )

54,30 %

0,2657

0,2967

0,4410

 ( 1999 )

62,90 %

0,4278

0,4518

0,6843

 ( 2000 )

32,70 %

0,6251

0,5774

0,9480

 ( 2001 )

88,60 %

1,1991

1,0714

1,7300

 ( 2002 )

30,80 %

1,5168

1,3741

2,2001

 ( 2003 )

13,90 %

1,5302

1,7141

2,4982

 ( 2004 )

13,84 %

1,4266

1,7666

2,6001

 ( 2005 )

2,66 %

1,3499

1,6882

2,4623

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 2007 )

5,94 %

1,3075

1,7901

2,6133

 ( 2008 )

8,11 %

1,2858

1,8876

2,3708

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-31.07.2011)

6,18 %

1,5901

2,2465

2,5668

 

 

BALANCE SHEETS

 

 

 ( 31.12.2006 )  TL

 

 ( 31.12.2007 )  TL

 

 ( 31.12.2008 )  TL

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

CURRENT ASSETS

261.658.603

0,57

279.605.094

0,46

471.105.216

0,51

341.165.841

0,41

412.754.226

0,42

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Cash and Banks

63.849.063

0,14

119.137.488

0,19

133.418.104

0,15

125.395.984

0,15

152.881.508

0,16

Marketable Securities

1.481.306

0,00

705.427

0,00

464.459

0,00

307.224

0,00

112.445

0,00

Account Receivable

49.706.158

0,11

25.334.648

0,04

100.975.156

0,11

36.106.845

0,04

19.256.042

0,02

Other Receivable

2.913.079

0,01

215.240

0,00

375.876

0,00

38.466.625

0,05

3.843.527

0,00

Inventories

116.648.093

0,25

94.826.530

0,15

199.136.377

0,22

118.960.650

0,14

197.381.451

0,20

Advances Given

24.598.256

0,05

28.516.391

0,05

20.508.997

0,02

18.585.267

0,02

36.938.495

0,04

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Current Assets

2.462.648

0,01

10.869.370

0,02

16.226.247

0,02

3.343.246

0,00

2.340.758

0,00

NON-CURRENT ASSETS

199.959.289

0,43

333.513.417

0,54

443.924.853

0,49

486.655.562

0,59

567.019.642

0,58

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Receivable

10.911

0,00

15.774

0,00

57.469

0,00

65.810

0,00

91.177

0,00

Financial Assets

94.341.525

0,20

157.636.088

0,26

199.977.399

0,22

183.507.681

0,22

253.157.427

0,26

Tangible Fixed Assets (net)

105.423.333

0,23

175.587.054

0,29

243.678.286

0,27

302.853.459

0,37

313.547.933

0,32

Intangible Assets

116.765

0,00

191.717

0,00

167.526

0,00

223.573

0,00

219.746

0,00

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

66.755

0,00

82.784

0,00

44.173

0,00

5.039

0,00

3.359

0,00

TOTAL ASSETS

461.617.892

1,00

613.118.511

1,00

915.030.069

1,00

827.821.403

1,00

979.773.868

1,00

CURRENT LIABILITIES

142.486.616

0,31

208.584.873

0,34

419.619.568

0,46

317.458.078

0,38

379.404.684

0,39

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

39.670.902

0,09

45.385.215

0,07

106.260.864

0,12

105.844.079

0,13

46.274.612

0,05

Accounts Payable

93.849.100

0,20

155.278.864

0,25

302.818.967

0,33

202.836.428

0,25

322.199.572

0,33

Loans from Shareholders

847

0,00

847

0,00

978

0,00

312

0,00

312

0,00

Other Short-term Payable

415.254

0,00

3.856.827

0,01

1.089.511

0,00

718.662

0,00

2.746.181

0,00

Advances from Customers

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Taxes Payable

1.471.658

0,00

1.096.625

0,00

1.212.599

0,00

3.996.851

0,00

3.047.943

0,00

Provisions

7.078.642

0,02

2.966.487

0,00

8.236.649

0,01

4.061.746

0,00

5.136.020

0,01

Other Current Liabilities

213

0,00

8

0,00

0

0,00

0

0,00

44

0,00

LONG-TERM LIABILITIES

6.577.410

0,01

50.218.422

0,08

66.935.544

0,07

77.716.724

0,09

196.118.290

0,20

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

628.151

0,00

18.316.094

0,03

33.032.175

0,04

46.424.355

0,06

172.411.100

0,18

Securities Issued

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Payable

1.198.846

0,00

26.636.657

0,04

27.962.513

0,03

24.186.186

0,03

15.294.145

0,02

Loans from Shareholders

0

0,00

0

0,00

60.160

0,00

0

0,00

0

0,00

Other Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Provisions

4.750.413

0,01

5.265.671

0,01

5.880.696

0,01

7.106.183

0,01

8.413.045

0,01

STOCKHOLDERS' EQUITY

312.553.866

0,68

354.315.216

0,58

428.474.957

0,47

432.646.601

0,52

404.250.894

0,41

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Paid-in Capital

150.000.000

0,32

150.000.000

0,24

150.000.000

0,16

150.000.000

0,18

150.000.000

0,15

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Inflation Adjustment of Capital

94.243.375

0,20

94.243.375

0,15

94.243.375

0,10

94.243.375

0,11

94.243.375

0,10

Equity of Consolidated Firms

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Reserves

36.610.967

0,08

123.794.156

0,20

165.508.493

0,18

239.668.234

0,29

241.915.623

0,25

Revaluation Fund

575.757

0,00

575.757

0,00

575.757

0,00

2.500.012

0,00

2.500.012

0,00

Accumulated Losses(-)

-56.012.409

-0,12

-56.012.409

-0,09

-56.012.409

-0,06

-56.012.409

-0,07

-56.012.409

-0,06

Net Profit (loss)

87.136.176

0,19

41.714.337

0,07

74.159.741

0,08

2.247.389

0,00

-28.395.707

-0,03

TOTAL LIABILITIES AND EQUITY

461.617.892

1,00

613.118.511

1,00

915.030.069

1,00

827.821.403

1,00

979.773.868

1,00

 

 

 

 

INCOME STATEMENTS

 

 

(2006) TL

 

(2007) TL

 

(2008) TL

 

(2009) TL

 

(2010) TL

 

Net Sales

851.834.381

1,00

955.249.543

1,00

1.241.358.836

1,00

913.889.497

1,00

1.217.159.335

1,00

Cost of Goods Sold

707.421.126

0,83

879.791.800

0,92

1.048.920.963

0,84

901.985.171

0,99

1.210.785.509

0,99

Gross Profit

144.413.255

0,17

75.457.743

0,08

192.437.873

0,16

11.904.326

0,01

6.373.826

0,01

Operating Expenses

12.192.230

0,01

15.815.854

0,02

18.834.698

0,02

17.709.289

0,02

21.439.170

0,02

Operating Profit

132.221.025

0,16

59.641.889

0,06

173.603.175

0,14

-5.804.963

-0,01

-15.065.344

-0,01

Other Income

53.897.704

0,06

47.279.771

0,05

99.321.732

0,08

89.424.269

0,10

82.021.538

0,07

Other Expenses

29.769.409

0,03

30.404.282

0,03

35.098.190

0,03

49.004.796

0,05

27.758.951

0,02

Financial Expenses

50.021.188

0,06

25.862.165

0,03

149.048.565

0,12

31.406.063

0,03

67.592.950

0,06

Minority Interests

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Profit (loss) Before Tax

106.328.132

0,12

50.655.213

0,05

88.778.152

0,07

3.208.447

0,00

-28.395.707

-0,02

Tax Payable

19.191.956

0,02

8.940.876

0,01

14.618.411

0,01

961.058

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

87.136.176

0,10

41.714.337

0,04

74.159.741

0,06

2.247.389

0,00

-28.395.707

-0,02

 

FINANCIAL RATIOS

 

 

(2006)

(2007)

(2008)

(2009)

(2010)

LIQUIDITY RATIOS

 

Current Ratio

1,84

1,34

1,12

1,07

1,09

Acid-Test Ratio

0,83

0,70

0,56

0,63

0,46

Cash Ratio

0,46

0,57

0,32

0,40

0,40

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,25

0,15

0,22

0,14

0,20

Short-term Receivable/Total Assets

0,11

0,04

0,11

0,09

0,02

Tangible Assets/Total Assets

0,23

0,29

0,27

0,37

0,32

TURNOVER RATIOS

 

Inventory Turnover

6,06

9,28

5,27

7,58

6,13

Stockholders' Equity Turnover

2,73

2,70

2,90

2,11

3,01

Asset Turnover

1,85

1,56

1,36

1,10

1,24

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,68

0,58

0,47

0,52

0,41

Current Liabilities/Total Assets

0,31

0,34

0,46

0,38

0,39

Financial Leverage

0,32

0,42

0,53

0,48

0,59

Gearing Percentage

0,48

0,73

1,14

0,91

1,42

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

0,28

0,12

0,17

0,01

-0,07

Operating Profit Margin

0,16

0,06

0,14

-0,01

-0,01

Net Profit Margin

0,10

0,04

0,06

0,00

-0,02

Interest Cover

3,13

2,96

1,60

1,10

0,58

COLLECTION-PAYMENT

 

Average Collection Period (days)

21,01

9,55

29,30

14,25

5,72

Average Payable Period (days)

48,37

74,44

113,53

90,61

100,35

WORKING CAPITAL

119171987,00

71020221,00

51485648,00

23707763,00

33349542,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.77

UK Pound

1

Rs.75.58

Euro

1

Rs.65.97

 

 

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.