MIRA INFORM REPORT

 

Report Date :

10.06.2011

 

IDENTIFICATION DETAILS

 

Name :

BMC SANAYI VE TICARET A.S.

 

 

Registered Office :

Kemalpasa Cad. No: 32 Pinarbasi 35060  Izmir

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

18.07.1964

 

 

Com. Reg. No.:

3902-K-255

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of light commercial vehicles (pickup, minibus, van) heavy commercial vehicles (bus, tractor, truck / 4x2, 6x2, 6x4, 4x4) , military vehicles. (Vehicles can be changed into either (4x4),(6x6) or (8x8) specifications on the same chassis)

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

44.200.000 USD

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

 

COMPANY IDENTIFICATION

 

NAME

:

BMC SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Kemalpasa Cad. No: 32 Pinarbasi 35060  Izmir / Turkey

PHONE NUMBER

:

90-232-477 18 00

 

FAX NUMBER

:

90-232-477 18 77-79

 

WEB-ADDRESS

:

www.bmc.com.tr

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Hasan Tahsin

TAX NO

:

1270042173

REGISTRATION NUMBER

:

3902-K-255

REGISTERED OFFICE

:

Izmir Chamber of Commerce

DATE ESTABLISHED

:

18.07.1964

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   500.000.000

PAID-IN CAPITAL

:

TL   500.000.000

 

HISTORY

:

Previous Registered Capital

:

TL 380.000.000

Changed On

:

20.08.2009 (Commercial Gazette Date /Number 27.08.2009/ 7385)

Merger

:

The subject took over and merged with  “Otomotiv Mamulleri Pazarlama A.S.”

Changed On

:

30.12.2005 (Commercial Gazette Date /Number 25.01.2006/ 6478)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Cukurova Holding A.S.

99,99 %

Others

0,01 %

 

 

GROUP PARENT COMPANY

:

CUKUROVA HOLDING A.S.

 

SISTER COMPANIES

:

AKSAM DENIZCILIK VE TICARET A.S.

AKSAM HABER AJANSI A.S.

AKSAMUSTU DENIZCILIK A.S.

ALEM RADYO VE TELEVIZYON YAYINCILIK TICARET A.S.

ANADOLU ULUSLARARASI TICARET VE TASIMACILIK A.S.

A-TEL PAZARLAMA VE SERVIS HIZMETLERI A.S.

ATKASAN ATIK DEGERLENDIRME SANAYI VE TICARET A.S.

AZERCELL TELEKOM MMC

BARBAROS DENIZCILIK ISLETMESI A.S.

BATI DENIZCILIK ISLETMESI A.S.

BAYTUR INSAAT TAAHHUT A.S.

BILYONER INTERAKTIF HIZMETLER A.S.

COMAG ITHALAT IHRACAT MADEN SANAYI TICARET VE YATIRIM A.S.

CUKUROVA CELIK ENDUSTRISI A.S.

CUKUROVA HAVACILIK A.S.

CUKUROVA HOLDING A.S.

CUKUROVA INSAAT MAKINALARI SANAYI VE TICARET A.S.

CUKUROVA ITHALAT VE IHRACAT TURK A.S.

CUKUROVA JENERATOR MUMESSILLIK MUSAVIRLIK LTD. STI.

CUKUROVA JENERATOR SANAYII TICARET A.S.

CUKUROVA KIMYA ENDUSTRISI A.S.

CUKUROVA MAKINA IMALAT VE TICARET A.S.

CUKUROVA MAKINE KIRALAMA PAZARLAMA ITHALAT IHRACAT VE TICARET A.S.

CUKUROVA SANAYI ISLETMELERI TURK A.S.

CUKUROVA ZIRAAT ENDUSTRI VE TICARET A.S.

DAUSSAN CUKUROVA KIMYA DOKUM REFRAKTER MALZEMELERI SANAYI VE TICARET A.S.

DEMIR TOPRAK ITHALAT IHRACAT VE TICARET A.S.

DIGITAL PLATFORM ILETISIM HIZMETLERI A.S.

DIGITAL PLATFORM TEKNOLOJI HIZMETLERI A.S.

DOGU DENIZCILIK VE TICARET A.S.

EKSEN YAYINCILIK DAGITIM PAZARLAMA VE DIS TICARET A.S.

ENDUSTRI HOLDING A.S.

EUROPEAN TELECOMMUNICATION HOLDING ETH AG

GEDEN DENIZCILIK A.S.

GENEL DENIZCILIK NAKLIYATI A.S.

GENEL ENERGY INTERNATIONAL LTD

GENEL ENERJI A.S.

GENEL YAPI YATIRIM INSAAT VE TURIZM A.S.

GENEL YATIRIM A.S.

GEOCELL LLC

GLOBAL BILGI PAZARLAMA DANISMA VE CAGRI SERVISI HIZMETLERI A.S.

HOBIM BILGI ISLEM HIZMETLERI A.S.

INTA UZAY SISTEMLERI ILETISIM A.S.

INTELTEK INTERNET TEKNOLOJI YATIRIM VE DANISMANLIK TICARET A.S.

INTERCON DANISMANLIK VE EGITIM HIZMETLERI A.S.

INTERDEPO ULUSLARARASI OZEL ANTREPO ISLETMECILIGI A.S.

ISEDAS ISTANBUL ELEKTRIK DAGITIM SANAYI VE TICARET A.S.

KAPLAMIN AMBALAJ SANAYI VE TICARET A.S.

KARAMKO IMALAT ZIRAAT ENDUSTRI VE TICARET A.S.

KUZEY KIBRIS TURKCELL

KVK TEKNIK SERVIS HIZMETLERI VE TICARET A.S.

KVK TEKNOLOJI URUNLERI VE TICARET A.S.

LLC ASTELIT

MAPFRE GENEL SIGORTA A.S.

MAPFRE GENEL YASAM SIGORTA A.S.

MAYSAN MANDO OTOMOTIV PARCALARI SANAYI VE TICARET A.S.

MEDYA PAZARLAMA A.S.

MILLENICOM TELEKOMUNIKASYON HIZMETLERI A.S.

MOLDCELL

NOKSEL CELIK BORU SANAYI A.S.

OREN DENIZCILIK NAKLIYAT VE TICARET A.S.

ORUC REIS DENIZCILIK ISLETMESI A.S.

OVA-SCA PACKAGING AMBALAJ SANAYI VE TICARET A.S.

PAMUKSPOR SPOR VE TURIZM HIZMETLERI SANAYI VE TICARET A.S.

PREVEZE BEYNELMILEL NAKLIYAT A.S.

SCA PACKAGING AMBALAJ SANAYI VE TICARET A.S.

SELKASAN KAGIT VE PAKETLEME MALZEMELERI IMALATI SANAYI VE TICARET A.S.

SEYDI REIS DENIZCILIK ISLETMESI A.S.

SUPERONLINE ILETISIM HIZMETLERI A.S.

T MEDYA BASKI TEKNOLOJILERI A.S.

T MEDYA MAGAZIN YAYINCILIK SANAYI VE TICARET A.S.

T MEDYA PAZARLAMA VE DIS TICARET A.S.

T MEDYA TELEVIZYON YAYINCILIK VE REKLAM PAZARLAMA A.S.

T MEDYA YATIRIM SANAYI VE TICARET A.S.

TAQ TAQ OPERATING COMPANY LIMITED

TOPAZ TELEKOMUNIKASYON YAYINCILIK REKLAMCILIK SANAYI VE TICARET A.S.

TURKCELL ILETISIM HIZMETLERI A.S.

TURKCELL TEKNOLOJI ARASTIRMA VEGELISTIRME A.S.

TURKTELL ULUSLARARASI YATIRIM HOLDING A.S.

ZEDPAS MEDYA PAZARLAMA A.S.

 

SUBSIDIARIES

:

COMAG ITHALAT IHRACAT MADEN SANAYI TICARET VE YATIRIM A.S.  ( 99,63 % )

 

CUKUROVA INSAAT MAKINALARI SANAYI VE TICARET A.S. 

( 11,72 % )

 

SINAI VE MALI YATIRIMLAR HOLDING A.S.  ( 15,80 % )

 

BOARD OF DIRECTORS

:

Mehmet Emin Karamehmet

Chairman

Mehmet T. Demirpence

Vice-Chairman

Osman Berkmen

Member

Fikri Sadi Gucum

Member

Engin Denizmen

Member

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of light commercial vehicles (pickup, minibus, van) heavy commercial vehicles (bus, tractor, truck / 4x2, 6x2, 6x4, 4x4) , military vehicles. (Vehicles can be changed into either (4x4),(6x6) or (8x8) specifications on the same chassis)

 

NACE CODE

:

DM.34.10

 

TRADEMARKS OWNED

:

BMC

 

NUMBER OF EMPLOYEES

:

2.657

 

NET SALES

:

186.739 TL Thousand

(2002) 

444.073 TL Thousand

(2003) 

682.588 TL Thousand

(2004) 

743.261 TL Thousand

(2005) 

892.555 TL Thousand

(2006) 

853.557 TL Thousand

(2007) 

681.285 TL Thousand

(2008) 

506.619 TL Thousand

(2009) 

645.027 TL Thousand

(2010) 

 

 

 

CAPACITY

:

BUS  ( units/yr)

HEAVY COMMERCIAL VEHICLES 

( units/yr)

LIGHT COMMERCIAL VEHICLES 

( units/yr)

 

 

1.500

10.000

10.000

(2002)

1.500

10.000

10.000

(2003)

1.800

10.000

10.000

(2004)

1.800

10.000

10.000

(2005)

1.800

10.000

10.000

(2006)

1.800

10.000

10.000

(2007)

1.800

10.000

10.000

(2008)

1.800

10.000

10.000

(2009)

 

 

 

 

MOTOR 

( units/yr)

 

 

 

 

22.000

 

 

(2002)

22.000

 

 

(2003)

22.000

 

 

(2004)

22.000

 

 

(2005)

22.000

 

 

(2006)

22.000

 

 

(2007)

22.000

 

 

(2008)

22.000

 

 

(2009)

 

 

 

 

IMPORT VALUE

:

176.500.000 USD

(2008)

50.800.000 USD

(2009)

141.300.000 USD

(2010)

 

 

IMPORT COUNTRIES

:

U.K.

Germany

Spain

Italy

 

MERCHANDISE IMPORTED

:

Diesel-engine

Differential gear

Intermediary goods

Motor

 

 

EXPORT VALUE

:

6.800.000 USD

(2001)

9.300.000 USD

(2002)

31.901.000 TL

(2003)

67.943.000 TL

(2004)

100.655.000 TL

(2005)

92.873.000 TL

(2006)

160.640.000 TL

(2007)

159.177.201 TL

(2008)

86.036.680 TL

(2009)

77.035.700 TL

(2010)

 

 

EXPORT COUNTRIES

:

Malaysia

U.A.E.

Thailand

Pakistan

 

MERCHANDISE  EXPORTED

:

Plastic sheet

Reinforced textile

Rubber tubes

 

HEAD OFFICE ADDRESS

:

Kemalpasa Cad. No: 32 Pinarbasi 35060   Izmir / Turkey  (owned)

 

BRANCHES

:

Head Office/Factory  :  Kemalpasa Cad. No: 32 Pinarbasi 35060 Izmir/Turkey (owned) (193.532 sqm)

 

INVESTMENTS

:

Investments are going on.

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2010.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Ege Kurumsal Branch

Alternatifbank Izmir Branch

Asya Katilim Bankasi Izmir Branch

Denizbank Ege Kurumsal Branch

Garanti Bankasi Izmir Branch

ING Bank Bornova Branch

Sekerbank Izmir Branch

Tekstilbank Izmir Branch

Turk Ekonomi Bankasi Ege Kurumsal Branch

Turkiye Is Bankasi Karabaglar Branch

Vakiflar Bankasi Bornova Branch

Yapi ve Kredi Bankasi Dokuz Eylul 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

:

 

(2007) TL Thousand

(2008) TL Thousand

(2009) TL Thousand

(2010) TL Thousand

 

Net Sales

853.557

681.285

506.619

645.027

 

Profit (Loss) Before Tax

-32.569

-73.294

-49.854

22.607

 

Stockholders' Equity

1.401.444

1.332.207

1.327.352

1.349.960

 

Total Assets

1.887.302

1.979.145

1.988.534

2.042.425

 

Current Assets

482.073

554.962

519.020

559.758

 

Non-Current Assets

1.405.229

1.424.183

1.469.514

1.482.667

 

Current Liabilities

387.913

545.914

565.223

593.008

 

Long-Term Liabilities

97.945

101.024

95.959

99.457

 

Gross Profit (loss)

175.048

95.205

95.557

163.868

 

Operating Profit (loss)

27.896

-21.285

5.758

79.095

 

Net Profit (loss)

-32.569

-73.294

-49.854

22.607

 

 

 

 

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

High As of 31.12.2010

Liquidity

Insufficient 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

Fair Operating Profitability  in 2007

Net Loss  in 2007

Operating Loss  in 2008

Net Loss  in 2008

Low Operating Profitability  in 2009

Net Loss  in 2009

High Operating Profitability  in 2010

In Order Net Profitability  in 2010

 

Gap between average collection and payable periods

Favorable in 2010

General Financial Position

Passable

 

 

CREDIT OPINION WITHOUT OBLIGATION

 

 

CREDIT LIMIT

 

:

44.200.000 USD

CREDIT OPINION WITHOUT OBLIGATION

 

:

We are of the opinion that, a max. credit of 44.200.000 USD may be granted to the subject company.

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 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

 ( 01.01-31.05.2011)

6,20 %

1,5693

2,2036

2,5324

 

 

BALANCE SHEETS

 

 

 ( 31.12.2007 )

 TL Thousand

 

 ( 31.12.2008 ) 

TL Thousand

 

CURRENT ASSETS

482.073

0,26

554.962

0,28

Not Detailed Current Assets

0

0,00

0

0,00

Cash and Banks

43.283

0,02

10.385

0,01

Marketable Securities

149

0,00

1.260

0,00

Account Receivable

250.762

0,13

227.749

0,12

Other Receivable

3.341

0,00

12.622

0,01

Inventories

144.954

0,08

251.042

0,13

Advances Given

13.698

0,01

23.118

0,01

Accumulated Construction Expense

0

0,00

0

0,00

Other Current Assets

25.886

0,01

28.786

0,01

NON-CURRENT ASSETS

1.405.229

0,74

1.424.183

0,72

Not Detailed Non-Current Assets

0

0,00

0

0,00

Long-term Receivable

0

0,00

1

0,00

Financial Assets

532.084

0,28

548.078

0,28

Tangible Fixed Assets (net)

856.499

0,45

850.543

0,43

Intangible Assets

16.646

0,01

25.561

0,01

Deferred Tax Assets

0

0,00

0

0,00

Other Non-Current Assets

0

0,00

0

0,00

TOTAL ASSETS

1.887.302

1,00

1.979.145

1,00

CURRENT LIABILITIES

387.913

0,21

545.914

0,28

Not Detailed Current Liabilities

0

0,00

0

0,00

Financial Loans

249.411

0,13

268.868

0,14

Accounts Payable

105.331

0,06

202.862

0,10

Loans from Shareholders

121

0,00

8.558

0,00

Other Short-term Payable

2.053

0,00

5.370

0,00

Advances from Customers

24.099

0,01

49.315

0,02

Accumulated Construction Income

0

0,00

0

0,00

Taxes Payable

3.851

0,00

4.493

0,00

Provisions

2.919

0,00

6.393

0,00

Other Current Liabilities

128

0,00

55

0,00

LONG-TERM LIABILITIES

97.945

0,05

101.024

0,05

Not Detailed Long-term Liabilities

0

0,00

0

0,00

Financial Loans

0

0,00

0

0,00

Securities Issued

0

0,00

0

0,00

Long-term Payable

55.983

0,03

54.125

0,03

Loans from Shareholders

0

0,00

0

0,00

Other Long-term Liabilities

69

0,00

48

0,00

Provisions

41.893

0,02

46.851

0,02

STOCKHOLDERS' EQUITY

1.401.444

0,74

1.332.207

0,67

Not Detailed Stockholders' Equity

0

0,00

0

0,00

Paid-in Capital

380.000

0,20

380.000

0,19

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

Inflation Adjustment of Capital

373.637

0,20

373.637

0,19

Equity of Consolidated Firms

0

0,00

0

0,00

Reserves

218.223

0,12

189.711

0,10

Revaluation Fund

462.153

0,24

462.153

0,23

Accumulated Losses(-)

0

0,00

0

0,00

Net Profit (loss)

-32.569

-0,02

-73.294

-0,04

TOTAL LIABILITIES AND EQUITY

1.887.302

1,00

1.979.145

1,00

 

 

 

 ( 31.12.2009 ) 

TL Thousand

 

 ( 31.12.2010 ) 

TL Thousand

 

CURRENT ASSETS

519.020

0,26

559.758

0,27

Not Detailed Current Assets

0

0,00

0

0,00

Cash and Banks

41.183

0,02

28.661

0,01

Marketable Securities

22.309

0,01

0

0,00

Account Receivable

207.345

0,10

252.901

0,12

Other Receivable

16.662

0,01

9.693

0,00

Inventories

183.029

0,09

265.397

0,13

Advances Given

42.769

0,02

0

0,00

Accumulated Construction Expense

0

0,00

0

0,00

Other Current Assets

5.723

0,00

3.106

0,00

NON-CURRENT ASSETS

1.469.514

0,74

1.482.667

0,73

Not Detailed Non-Current Assets

0

0,00

0

0,00

Long-term Receivable

36.699

0,02

35.770

0,02

Financial Assets

551.081

0,28

561.902

0,28

Tangible Fixed Assets (net)

855.674

0,43

845.694

0,41

Intangible Assets

26.060

0,01

39.301

0,02

Deferred Tax Assets

0

0,00

0

0,00

Other Non-Current Assets

0

0,00

0

0,00

TOTAL ASSETS

1.988.534

1,00

2.042.425

1,00

CURRENT LIABILITIES

565.223

0,28

593.008

0,29

Not Detailed Current Liabilities

0

0,00

0

0,00

Financial Loans

202.846

0,10

194.910

0,10

Accounts Payable

190.493

0,10

213.840

0,10

Loans from Shareholders

9.007

0,00

161

0,00

Other Short-term Payable

10.682

0,01

11.500

0,01

Advances from Customers

139.355

0,07

164.525

0,08

Accumulated Construction Income

0

0,00

0

0,00

Taxes Payable

7.234

0,00

7.758

0,00

Provisions

5.333

0,00

279

0,00

Other Current Liabilities

273

0,00

35

0,00

LONG-TERM LIABILITIES

95.959

0,05

99.457

0,05

Not Detailed Long-term Liabilities

0

0,00

0

0,00

Financial Loans

3.602

0,00

798

0,00

Securities Issued

0

0,00

0

0,00

Long-term Payable

0

0,00

38.417

0,02

Loans from Shareholders

962

0,00

1.479

0,00

Other Long-term Liabilities

40.231

0,02

70

0,00

Provisions

51.164

0,03

58.693

0,03

STOCKHOLDERS' EQUITY

1.327.352

0,67

1.349.960

0,66

Not Detailed Stockholders' Equity

0

0,00

0

0,00

Paid-in Capital

500.000

0,25

500.000

0,24

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

Inflation Adjustment of Capital

298.637

0,15

298.637

0,15

Equity of Consolidated Firms

0

0,00

0

0,00

Reserves

148.254

0,07

148.254

0,07

Revaluation Fund

462.153

0,23

462.153

0,23

Accumulated Losses(-)

-31.838

-0,02

-81.691

-0,04

Net Profit (loss)

-49.854

-0,03

22.607

0,01

TOTAL LIABILITIES AND EQUITY

1.988.534

1,00

2.042.425

1,00

 

 

 

INCOME STATEMENTS

 

 

(2007) TL Thousand

 

(2008) TL Thousand

 

(2009) TL Thousand

 

(2010) TL Thousand

 

Net Sales

853.557

1,00

681.285

1,00

506.619

1,00

645.027

1,00

Cost of Goods Sold

678.509

0,79

586.080

0,86

411.062

0,81

481.159

0,75

Gross Profit

175.048

0,21

95.205

0,14

95.557

0,19

163.868

0,25

Operating Expenses

147.152

0,17

116.490

0,17

89.799

0,18

84.773

0,13

Operating Profit

27.896

0,03

-21.285

-0,03

5.758

0,01

79.095

0,12

Other Income

22.737

0,03

49.078

0,07

26.462

0,05

36.084

0,06

Other Expenses

38.541

0,05

33.898

0,05

31.815

0,06

42.099

0,07

Financial Expenses

44.661

0,05

67.189

0,10

50.259

0,10

50.473

0,08

Minority Interests

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

Profit (loss) Before Tax

-32.569

-0,04

-73.294

-0,11

-49.854

-0,10

22.607

0,04

Tax Payable

0

0,00

0

0,00

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

-32.569

-0,04

-73.294

-0,11

-49.854

-0,10

22.607

0,04

 

 

 

FINANCIAL RATIOS

 

 

(2007)

(2008)

(2009)

(2010)

LIQUIDITY RATIOS

 

Current Ratio

1,24

1,02

0,92

0,94

Acid-Test Ratio

0,77

0,46

0,51

0,49

Cash Ratio

0,11

0,02

0,11

0,05

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,08

0,13

0,09

0,13

Short-term Receivable/Total Assets

0,13

0,12

0,11

0,13

Tangible Assets/Total Assets

0,45

0,43

0,43

0,41

TURNOVER RATIOS

 

Inventory Turnover

4,68

2,33

2,25

1,81

Stockholders' Equity Turnover

0,61

0,51

0,38

0,48

Asset Turnover

0,45

0,34

0,25

0,32

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,74

0,67

0,67

0,66

Current Liabilities/Total Assets

0,21

0,28

0,28

0,29

Financial Leverage

0,26

0,33

0,33

0,34

Gearing Percentage

0,35

0,49

0,50

0,51

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

-0,02

-0,06

-0,04

0,02

Operating Profit Margin

0,03

-0,03

0,01

0,12

Net Profit Margin

-0,04

-0,11

-0,10

0,04

Interest Cover

0,27

-0,09

0,01

1,45

COLLECTION-PAYMENT

 

Average Collection Period (days)

105,76

120,35

173,42

161,11

Average Payable Period (days)

85,59

157,85

166,83

188,74

WORKING CAPITAL

94160,00

9048,00

-46203,00

-33250,00

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.73.47

Euro

1

Rs.65.38

 

 

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.