MIRA
INFORM REPORT
|
Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ALMER GRANIT MERMER INSAAT SANAYI VE TICARET LTD. STI. |
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|
|
|
Formerly Known As : |
ALMER INSAAT
HAFRIYAT SANAYI VE TICARET LTD. STI. |
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|
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Registered Office : |
Pasakoy Dersaadet Cad. No:25 Sancaktepe Istanbul |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
11.08.2000 |
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Com. Reg. No.: |
443042 |
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Legal Form : |
Limited Company |
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Line of Business : |
Cutting, assembly and trade of marble and granite. The firm also deals
with infrastructure and landscaping works. |
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 |
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Restricted |
C2 |
|
Off-credit |
D |
COMPANY IDENTIFICATION
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NAME |
: |
ALMER GRANIT MERMER INSAAT SANAYI VE TICARET LTD. STI. |
|
HEAD OFFICE ADDRESS |
: |
Pasakoy Dersaadet Cad. No:25 Sancaktepe Istanbul / Turkey |
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PHONE NUMBER |
: |
90-532-457 06 51 (Contact Number of Melik Al) |
LEGAL STATUS AND HISTORY
|
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TAX OFFICE |
: |
Sultanbeyli |
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TAX NO |
: |
0550144532 |
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REGISTRATION NUMBER |
: |
443042 |
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
|
DATE ESTABLISHED |
: |
11.08.2000 |
|
ESTABLISHMENT GAZETTE DATE/NO |
: |
18.08.2000/5113 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 25.000 |
|
PAID-IN CAPITAL |
: |
TL 25.000 |
|
HISTORY |
: |
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OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
: |
Declared to be: None |
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SUBSIDIARIES |
: |
None |
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DIRECTORS |
: |
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OPERATIONS
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BUSINESS ACTIVITIES |
: |
Cutting, assembly and trade of marble and granite. The firm also deals
with infrastructure and landscaping works. |
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NACE CODE |
: |
DI.26.70 |
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NUMBER OF EMPLOYEES |
: |
16 |
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NET SALES |
: |
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IMPORT COUNTRIES |
: |
China India |
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MERCHANDISE IMPORTED |
: |
Granite |
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EXPORT VALUE |
: |
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HEAD OFFICE ADDRESS |
: |
Pasakoy Dersaadet Cad. No:25 Sancaktepe Istanbul / Turkey |
|
BRANCHES |
: |
Head Office/Processing Plant
: Pasakoy Dersaadet Cad. No:25
Sancaktepe Istanbul/Turkey |
|
INVESTMENTS |
: |
Machinery investments are going on. |
|
TREND OF
BUSINESS |
: |
There was an
upwards trend in 2010. There appears a
substantial decline at sales volume in the first 3 months of this year. |
|
SIZE OF BUSINESS |
: |
Upper-Moderate |
FINANCE
|
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MAIN DEALING BANKS |
: |
T. Finans Katilim Bankasi Umraniye Branch T. Vakiflar Bankasi Umraniye Branch |
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CREDIT FACILITIES |
: |
No credit facility has come to our knowledge. |
|
PAYMENT BEHAVIOUR |
: |
We are informed about a single payment delay in the former years which
was resolved later on but no payment delays have come to our knowledge in the
last years. |
|
KEY FINANCIAL ELEMENTS |
: |
|
COMMENT ON FINANCIAL POSITION
|
Capitalization |
Low As of
31.12.2010 |
|
Liquidity |
Good As of
31.12.2010 |
|
Remarks On
Liquidity |
The favorable
gap between average collection and average payable period has a positive
effect on liquidity. The liquid
assets consist mainly of receivables the amount of cash&banks or marketable
securities (which are more liquid) are low. |
|
Profitability |
High Operating
Profitability in 2010 High Net
Profitability in 2010 Gross Loss
(01.01-31.03.2011) Operating Loss
(01.01-31.03.2011) Net Loss
(01.01-31.03.2011) |
|
Gap between
average collection and payable periods |
Favorable in
2010 |
|
General
Financial Position |
Not in order |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
|
( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
|
( 01.01-31.03.2011) |
5,40 % |
1,5753 |
2,1664 |
2,5072 |
|
( 01.01-30.06.2011) |
6,21 % |
1,5771 |
2,2246 |
2,5422 |
BALANCE SHEETS
|
|
( 31.12.2010 ) TL |
|
|
CURRENT ASSETS |
2.818.122 |
0,97 |
|
Not Detailed
Current Assets |
0 |
0,00 |
|
Cash and Banks |
241.755 |
0,08 |
|
Marketable
Securities |
0 |
0,00 |
|
Account
Receivable |
223.318 |
0,08 |
|
Other Receivable |
2.180.000 |
0,75 |
|
Inventories |
150.025 |
0,05 |
|
Advances Given |
5.235 |
0,00 |
|
Accumulated
Construction Expense |
0 |
0,00 |
|
Other Current
Assets |
17.789 |
0,01 |
|
NON-CURRENT
ASSETS |
89.727 |
0,03 |
|
Not Detailed
Non-Current Assets |
0 |
0,00 |
|
Long-term
Receivable |
0 |
0,00 |
|
Financial Assets |
0 |
0,00 |
|
Tangible Fixed
Assets (net) |
81.253 |
0,03 |
|
Intangible
Assets |
8.474 |
0,00 |
|
Deferred Tax
Assets |
0 |
0,00 |
|
Other
Non-Current Assets |
0 |
0,00 |
|
TOTAL ASSETS |
2.907.849 |
1,00 |
|
CURRENT
LIABILITIES |
2.560.375 |
0,88 |
|
Not Detailed
Current Liabilities |
0 |
0,00 |
|
Financial Loans |
0 |
0,00 |
|
Accounts Payable |
2.520.205 |
0,87 |
|
Loans from
Shareholders |
0 |
0,00 |
|
Other Short-term
Payable |
0 |
0,00 |
|
Advances from
Customers |
10.000 |
0,00 |
|
Accumulated
Construction Income |
0 |
0,00 |
|
Taxes Payable |
13.313 |
0,00 |
|
Provisions |
16.857 |
0,01 |
|
Other Current
Liabilities |
0 |
0,00 |
|
LONG-TERM
LIABILITIES |
0 |
0,00 |
|
Not Detailed
Long-term Liabilities |
0 |
0,00 |
|
Financial Loans |
0 |
0,00 |
|
Securities
Issued |
0 |
0,00 |
|
Long-term
Payable |
0 |
0,00 |
|
Loans from
Shareholders |
0 |
0,00 |
|
Other Long-term
Liabilities |
0 |
0,00 |
|
Provisions |
0 |
0,00 |
|
STOCKHOLDERS'
EQUITY |
347.474 |
0,12 |
|
Not Detailed
Stockholders' Equity |
0 |
0,00 |
|
Paid-in Capital |
25.000 |
0,01 |
|
Cross
Shareholding Adjustment of Capital |
0 |
0,00 |
|
Inflation
Adjustment of Capital |
0 |
0,00 |
|
Equity of
Consolidated Firms |
0 |
0,00 |
|
Reserves |
248.701 |
0,09 |
|
Revaluation Fund |
0 |
0,00 |
|
Accumulated
Losses(-) |
-1.870 |
0,00 |
|
Net Profit
(loss) |
75.643 |
0,03 |
|
TOTAL
LIABILITIES AND EQUITY |
2.907.849 |
1,00 |
INCOME STATEMENTS
|
|
(2010) TL |
|
(01.01-31.03.2011)
TL |
|
|
Net Sales |
588.768 |
1,00 |
89.009 |
1,00 |
|
Cost of Goods
Sold |
386.967 |
0,66 |
100.145 |
1,13 |
|
Gross Profit |
201.801 |
0,34 |
-11.136 |
-0,13 |
|
Operating
Expenses |
72.621 |
0,12 |
8.337 |
0,09 |
|
Operating Profit |
129.180 |
0,22 |
-19.473 |
-0,22 |
|
Other Income |
13.778 |
0,02 |
9.626 |
0,11 |
|
Other Expenses |
37.428 |
0,06 |
637 |
0,01 |
|
Financial
Expenses |
3.671 |
0,01 |
997 |
0,01 |
|
Minority
Interests |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss) of
consolidated firms |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss)
Before Tax |
101.859 |
0,17 |
-11.481 |
-0,13 |
|
Tax Payable |
26.216 |
0,04 |
0 |
0,00 |
|
Postponed Tax Gain |
0 |
0,00 |
0 |
0,00 |
|
Net Profit
(loss) |
75.643 |
0,13 |
-11.481 |
-0,13 |
FINANCIAL
RATIOS
|
|
(2010) |
|
LIQUIDITY RATIOS |
|
|
Current Ratio |
1,10 |
|
Acid-Test Ratio |
1,03 |
|
Cash Ratio |
0,09 |
|
ASSET STRUCTURE
RATIOS |
|
|
Inventory/Total
Assets |
0,05 |
|
Short-term
Receivable/Total Assets |
0,83 |
|
Tangible
Assets/Total Assets |
0,03 |
|
TURNOVER RATIOS |
|
|
Inventory
Turnover |
2,58 |
|
Stockholders'
Equity Turnover |
1,69 |
|
Asset Turnover |
0,20 |
|
FINANCIAL
STRUCTURE |
|
|
Stockholders'
Equity/Total Assets |
0,12 |
|
Current
Liabilities/Total Assets |
0,88 |
|
Financial
Leverage |
0,88 |
|
Gearing
Percentage |
7,37 |
|
PROFITABILITY
RATIOS |
|
|
Net
Profit/Stockholders' Eq. |
0,22 |
|
Operating Profit
Margin |
0,22 |
|
Net Profit
Margin |
0,13 |
|
Interest Cover |
28,75 |
|
COLLECTION-PAYMENT |
|
|
Average
Collection Period (days) |
136,55 |
|
Average Payable
Period (days) |
2344,58 |
|
WORKING CAPITAL |
257747,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.23 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.62.98 |
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.