MIRA INFORM REPORT
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Report Date : |
05.07.2011 |
IDENTIFICATION DETAILS
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Name : |
DIVA MUTFAK ESYALARI VE DIS TICARET LTD. STI.
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Registered Office : |
Istoc Z Blok No.39 Bagcilar
Gunesli Istanbul |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.11.2009 |
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Com. Reg. No.: |
715910 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale trade of kitchenware products |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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
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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 |
: |
DIVA MUTFAK ESYALARI VE DIS TICARET LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Istoc Z Blok No.39 Bagcilar
Gunesli Istanbul / Turkey |
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PHONE NUMBER |
: |
90-212-659 72 56 |
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FAX NUMBER |
: |
90-212-659 72 67 |
LEGAL STATUS AND HISTORY
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TAX OFFICE |
: |
Gunesli |
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TAX NO |
: |
3010542563 |
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REGISTRATION NUMBER |
: |
715910 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
20.11.2009 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
26.11.2009/7447 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 100.000 |
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PAID-IN CAPITAL |
: |
TL 30.000 |
OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
: |
BILGINLER DIS TICARET LTD. STI. |
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SUBSIDIARIES |
: |
None |
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DIRECTORS |
: |
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OPERATIONS
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BUSINESS ACTIVITIES |
: |
Wholesale trade of kitchenware products. |
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NACE CODE |
: |
G .51.90 |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
1 |
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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 |
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MERCHANDISE IMPORTED |
: |
Kitchenware products |
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EXPORT VALUE |
: |
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HEAD OFFICE ADDRESS |
: |
Istoc Z Blok No.39 Bagcilar
Gunesli Istanbul / Turkey |
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BRANCHES |
: |
Warehouse : Mahmutbey Avcilar Istanbul/Turkey |
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INVESTMENTS |
: |
None |
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TREND OF BUSINESS |
: |
Undetermined; young business. |
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SIZE OF BUSINESS |
: |
Small |
FINANCE
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MAIN DEALING BANKS |
: |
ING Bank Mercan Branch Kuveyt Turk Katilim Bankasi Istoc Branch |
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CREDIT FACILITIES |
: |
The subject company is making 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 |
Not in order As of 31.12.2010 |
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Remarks on Capitalization |
A part of total liabilities and equity consist of loans from
shareholders rather than liabilities to third parties indicating not too high
indebtedness to third parties. |
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Liquidity |
Fair As of 31.12.2010 |
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Remarks On Liquidity |
A part of current liabilities consist of short-term loans from
shareholders rather than liabilities to third parties. The unfavorable gap between
average collection and average payable period has an adverse effect on
liquidity. |
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Profitability |
Operating Loss in 2010 Net Loss in 2010 High Operating Profitability (01.01-31.03.2011) High Net Profitability (01.01-31.03.2011) |
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Gap between average collection and payable periods |
Unfavorable in 2010 |
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General Financial Position |
Unsatisfactory |
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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 |
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( 01.01-31.03.2011) |
5,40 % |
1,5753 |
2,1664 |
2,5072 |
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( 01.01-31.05.2011) |
6,20 % |
1,5693 |
2,2036 |
2,5324 |
BALANCE SHEETS
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( 31.12.2010 ) TL |
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CURRENT ASSETS |
324.029 |
1,00 |
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Not Detailed Current Assets |
0 |
0,00 |
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Cash and Banks |
5.892 |
0,02 |
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Marketable Securities |
0 |
0,00 |
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Account Receivable |
33.149 |
0,10 |
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Other Receivable |
0 |
0,00 |
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Inventories |
134.947 |
0,42 |
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Advances Given |
129.180 |
0,40 |
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Accumulated Construction Expense |
0 |
0,00 |
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Other Current Assets |
20.861 |
0,06 |
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NON-CURRENT ASSETS |
368 |
0,00 |
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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) |
368 |
0,00 |
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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 |
324.397 |
1,00 |
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CURRENT LIABILITIES |
322.296 |
0,99 |
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Not Detailed Current Liabilities |
0 |
0,00 |
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Financial Loans |
44.101 |
0,14 |
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Accounts Payable |
12.613 |
0,04 |
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Loans from Shareholders |
250.344 |
0,77 |
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Other Short-term Payable |
0 |
0,00 |
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Advances from Customers |
14.335 |
0,04 |
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Accumulated Construction Income |
0 |
0,00 |
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Taxes Payable |
903 |
0,00 |
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Provisions |
0 |
0,00 |
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Other Current Liabilities |
0 |
0,00 |
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LONG-TERM LIABILITIES |
0 |
0,00 |
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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 |
2.101 |
0,01 |
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Not Detailed Stockholders' Equity |
0 |
0,00 |
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Paid-in Capital |
30.000 |
0,09 |
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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 |
0 |
0,00 |
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Revaluation Fund |
0 |
0,00 |
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Accumulated Losses(-) |
-10.130 |
-0,03 |
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Net Profit (loss) |
-17.769 |
-0,05 |
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TOTAL LIABILITIES AND EQUITY |
324.397 |
1,00 |
INCOME STATEMENTS
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|
(2010) TL |
|
(01.01-31.03.2011)
TL |
|
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Net Sales |
210.543 |
1,00 |
81.427 |
1,00 |
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Cost of Goods Sold |
198.662 |
0,94 |
41.151 |
0,51 |
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Gross Profit |
11.881 |
0,06 |
40.276 |
0,49 |
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Operating Expenses |
29.757 |
0,14 |
5.828 |
0,07 |
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Operating Profit |
-17.876 |
-0,08 |
34.448 |
0,42 |
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Other Income |
498 |
0,00 |
62 |
0,00 |
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Other Expenses |
391 |
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 |
-17.769 |
-0,08 |
34.510 |
0,42 |
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Tax Payable |
0 |
0,00 |
0 |
0,00 |
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Postponed Tax Gain |
0 |
0,00 |
0 |
0,00 |
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Net Profit (loss) |
-17.769 |
-0,08 |
34.510 |
0,42 |
FINANCIAL RATIOS
|
|
(2010) |
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LIQUIDITY RATIOS |
|
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Current Ratio |
1,01 |
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Acid-Test Ratio |
0,12 |
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Cash Ratio |
0,02 |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,42 |
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Short-term Receivable/Total Assets |
0,10 |
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Tangible Assets/Total Assets |
0,00 |
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TURNOVER RATIOS |
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Inventory Turnover |
1,47 |
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Stockholders' Equity Turnover |
100,21 |
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Asset Turnover |
0,65 |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,01 |
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Current Liabilities/Total Assets |
0,99 |
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Financial Leverage |
0,99 |
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Gearing Percentage |
153,40 |
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PROFITABILITY RATIOS |
|
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Net Profit/Stockholders' Eq. |
-8,46 |
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Operating Profit Margin |
-0,08 |
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Net Profit Margin |
-0,08 |
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Interest Cover |
|
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COLLECTION-PAYMENT |
|
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Average Collection Period (days) |
56,68 |
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Average Payable Period (days) |
22,86 |
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WORKING CAPITAL |
1733,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.46 |
|
UK Pound |
1 |
Rs.71.53 |
|
Euro |
1 |
Rs.64.63 |
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 |
|
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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.