MIRA INFORM REPORT
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Report Date : |
19.04.2012 |
IDENTIFICATION DETAILS
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Name : |
MART MERMER VE MADEN SANAYI TICARET LTD. STI.
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Registered Office : |
Cumhuriyet Mahallesi 10004 Sokak No:4 Ulukent Menemen Izmir |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
26.03.2004 |
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Com. Reg. No.: |
3590 |
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Legal Form : |
Limited Company |
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Line of Business : |
Trader of marble and granite |
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No. of Employees
: |
05 |
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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
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NAME |
: |
MART MERMER VE MADEN SANAYI TICARET LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Cumhuriyet Mahallesi 10004 Sokak
No:4 Ulukent Menemen Izmir / Turkey |
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PHONE NUMBER |
: |
90-232-833 40 92 |
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FAX NUMBER |
: |
90-232-833 40 95 |
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WEB-ADDRESS |
: |
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E-MAIL |
: |
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TAX OFFICE |
: |
Hasan Tahsin |
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TAX NO |
: |
6120429485 |
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REGISTRATION NUMBER |
: |
3590 |
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REGISTERED OFFICE |
: |
Izmir Chamber of Commerce |
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DATE ESTABLISHED |
: |
26.03.2004 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
01.04.2004/6020 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 250.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Trade of marble and granite. |
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NACE CODE |
: |
G .51.52 |
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SECTOR |
: |
Commerce |
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TRADEMARKS TRADED |
: |
Marbleart Martmermer |
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NUMBER OF EMPLOYEES |
: |
5 |
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NET SALES |
: |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT VALUE |
: |
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IMPORT COUNTRIES |
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Spain India |
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MERCHANDISE IMPORTED |
: |
Granite |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Thailand Pakistan Greece |
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MERCHANDISE EXPORTED |
: |
Marble Onyx Travertine |
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HEAD OFFICE ADDRESS |
: |
Cumhuriyet Mahallesi 10004 Sokak
No:4 Ulukent Menemen Izmir / Turkey ( rented ) (3.200 sqm) |
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BRANCHES |
: |
Warehouse : Cumhuriyet Mahallesi 10004 Sokak No:4
Ulukent Menemen Izmir/Turkey (rented) |
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TREND OF BUSINESS |
: |
There was an upwards trend in
2011. |
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SIZE OF BUSINESS |
: |
Lower-Moderate |
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MAIN DEALING BANKS |
: |
Kuveyt Turk Katilim Bankasi Cigli Branch Sekerbank Sirinyer Branch Turkiye Halk Bankasi Cigli Branch Turkiye Is Bnakasi Yeni Liman 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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THE DETAILS OF THE CAPITAL INCREASE AFTER LAST BALANCE SHEET |
: |
Cash Part |
:20.583,02 TL |
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Equity Part |
:79.416,98 TL |
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Payment Due Date |
:04.05.2014 |
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Number of Days To Pay First Portion of The Cash Part of Capital
Increase |
:90 |
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Capitalization |
Negative Stockholders’ Equity |
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Remarks on Capitalization |
There has been capital increase and net loss after the last balance sheet
date. The capital increase is expected to have less effect then the loss at
the equity total since the last balance sheet date. |
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Liquidity |
Insufficient |
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Remarks On Liquidity |
The capital increase after the last balance sheet is expected to have
a positive effect on liquidity since the last balance sheet date. The unfavorable gap between average collection and average payable
period has an adverse effect on liquidity.
The subject has negative cash and banks which has an adverse effect on
liquidity. The liquid assets consist
mainly of receivables; the firm has negative cash&banks |
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Profitability |
High Operating Profitability in
2010 Good Net Profitability in 2010 High Operating Profitability in
2011 Net Loss in 2011 |
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Gap between average collection and payable periods |
Unfavorable in 2010 |
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General Financial Position |
Poor |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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( 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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( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
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( 01.01-31.03.2012) |
0,65 % |
1,7995 |
2,3799 |
2,8402 |
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( 31.12.2010 ) TL |
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CURRENT ASSETS |
794.935 |
0,80 |
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Not Detailed Current Assets |
0 |
0,00 |
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Cash and Banks |
-643.401 |
-0,64 |
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Marketable Securities |
0 |
0,00 |
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Account Receivable |
269.023 |
0,27 |
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Other Receivable |
598.598 |
0,60 |
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Inventories |
257.942 |
0,26 |
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Advances Given |
274.759 |
0,28 |
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Accumulated Construction Expense |
0 |
0,00 |
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Other Current Assets |
38.014 |
0,04 |
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NON-CURRENT ASSETS |
203.871 |
0,20 |
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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) |
201.455 |
0,20 |
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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 |
2.416 |
0,00 |
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TOTAL ASSETS |
998.806 |
1,00 |
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CURRENT LIABILITIES |
428.107 |
0,43 |
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Not Detailed Current Liabilities |
0 |
0,00 |
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Financial Loans |
173.133 |
0,17 |
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Accounts Payable |
70.300 |
0,07 |
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Loans from Shareholders |
0 |
0,00 |
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Other Short-term Payable |
858 |
0,00 |
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Advances from Customers |
172.939 |
0,17 |
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Accumulated Construction Income |
0 |
0,00 |
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Taxes Payable |
10.877 |
0,01 |
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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 |
316.161 |
0,32 |
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Not Detailed Long-term Liabilities |
0 |
0,00 |
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Financial Loans |
316.161 |
0,32 |
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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 |
254.538 |
0,25 |
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Not Detailed Stockholders' Equity |
0 |
0,00 |
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Paid-in Capital |
150.000 |
0,15 |
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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 |
40.387 |
0,04 |
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Revaluation Fund |
1.316 |
0,00 |
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Accumulated Losses(-) |
0 |
0,00 |
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Net Profit (loss) |
62.835 |
0,06 |
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TOTAL LIABILITIES AND EQUITY |
998.806 |
1,00 |
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REMARKS ON FINANCIAL STATEMENT |
: |
At the last income statement TL
616.556 of the other expenses is due to "Other Extraordinary
Expenses and Losses" . |
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(2010) TL |
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(2011) TL |
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Net Sales |
1.665.290 |
1,00 |
3.083.829 |
1,00 |
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Cost of Goods Sold |
1.245.106 |
0,75 |
2.146.133 |
0,70 |
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Gross Profit |
420.184 |
0,25 |
937.696 |
0,30 |
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Operating Expenses |
241.339 |
0,14 |
629.442 |
0,20 |
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Operating Profit |
178.845 |
0,11 |
308.254 |
0,10 |
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Other Income |
27.322 |
0,02 |
21.931 |
0,01 |
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Other Expenses |
23.084 |
0,01 |
681.804 |
0,22 |
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Financial Expenses |
103.956 |
0,06 |
126.992 |
0,04 |
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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 |
79.127 |
0,05 |
-478.611 |
-0,16 |
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Tax Payable |
16.292 |
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) |
62.835 |
0,04 |
-478.611 |
-0,16 |
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(2010) |
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LIQUIDITY RATIOS |
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Current Ratio |
1,86 |
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Acid-Test Ratio |
0,52 |
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Cash Ratio |
-1,50 |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,26 |
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Short-term Receivable/Total Assets |
0,87 |
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Tangible Assets/Total Assets |
0,20 |
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TURNOVER RATIOS |
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Inventory Turnover |
4,83 |
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Stockholders' Equity Turnover |
6,54 |
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Asset Turnover |
1,67 |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,25 |
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Current Liabilities/Total Assets |
0,43 |
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Financial Leverage |
0,75 |
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Gearing Percentage |
2,92 |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,25 |
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Operating Profit Margin |
0,11 |
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Net Profit Margin |
0,04 |
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Interest Cover |
1,76 |
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COLLECTION-PAYMENT |
|
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Average Collection Period (days) |
58,16 |
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Average Payable Period (days) |
20,33 |
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WORKING CAPITAL |
366828,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.50 |
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UK Pound |
1 |
Rs.81.99 |
|
Euro |
1 |
Rs.67.54 |
RATING EXPLANATIONS
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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 |
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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 |
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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.