MIRA INFORM REPORT

 

 

Report Date :           

01.08.2012

 

IDENTIFICATION DETAILS

 

Name :

BILLAS LASTIK VE KAUCUK SANAYI TICARET A.S.

 

 

Registered Office :

Ataturk Mah. No:39 Izmir Ankara Asfalti Uzeri Ulucak Kemalpasa Izmir

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

06.04.2004

 

 

Com. Reg. No.:

112842-MERKEZ

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of rubber and tyre.

 

 

No. of Employees :

118

 

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 :

Slow

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

:

BILLAS LASTIK VE KAUCUK SANAYI TICARET A.S.

HEAD OFFICE ADDRESS

:

Ataturk Mah. No:39 Izmir Ankara Asfalti Uzeri Ulucak Kemalpasa Izmir / Turkey

PHONE NUMBER

:

90-232-877 07 38

 

FAX NUMBER

:

90-232-877 06 39

90-232-877 15 26

 

WEB-ADDRESS

:

www.billas.com.tr

E-MAIL

:

billas@billas.com.tr

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

 

:

Change at tax no .

TAX OFFICE

:

Kemalpasa

TAX NO

:

1750421291

REMARKS ON TAX NO

:

The tax number was changed from "1750324299" to "1750421291" as the legal form changed from limited company to joint stock company.

REGISTRATION NUMBER

:

112842-MERKEZ

REGISTERED OFFICE

:

Izmir Chamber of Commerce

DATE ESTABLISHED

:

06.04.2004

ESTABLISHMENT GAZETTE DATE/NO

:

13.04.2004/6028

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   5.000.000

PAID-IN CAPITAL

:

TL   5.000.000

HISTORY

:

Previous Legal Type

:

Limited Company

Changed On

:

22.04.2011 (Commercial Gazette Date /Number 28.04.2011/ 7804)

Previous Name

:

Billas Otomotiv Lastik Insaat Turizm Tasimacilik Sanayi ve Ticaret Ltd. Sti.

Changed On

:

22.04.2011 (Commercial Gazette Date /Number 28.04.2011/ 7804)

Previous Registered Capital

:

TL 1.000.000

Changed On

:

28.12.2010 (Commercial Gazette Date /Number 03.01.2011/ 7721)

Previous Registered Capital

:

TL 2.500.000

Changed On

:

28.12.2011 (Commercial Gazette Date /Number 02.01.2012/ 7974)

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Serif Bildiler

48 %

Mehmet Bildiler

47 %

Hamide Bildiler

2 %

Gurhan Bildiler

2 %

Elif Zumral Bildiler

1 %

 

 

SISTER COMPANIES

:

OVA-KENT LASTIK KAPLAMA INSAAT TURIZM TASIMACILIK MADENCILIK GIDA TARIM HAYVANCILIK SANAYI VE TICARET LTD. STI.

 

SUBSIDIARIES

:

None

 

BOARD OF DIRECTORS

:

Mehmet Bildiler

Chairman

Serif Bildiler

Vice-Chairman

Gurhan Bildiler

Member

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Manufacture and trade of rubber and tyre.

 

NACE CODE

:

DH.25.11

 

TRADEMARKS OWNED

:

Billas

 

NUMBER OF EMPLOYEES

:

118

 

NET SALES

:

12.140.232 TL

(2011) 

2.800.126 TL

(01.01-31.03.2012) 

 

 

IMPORT COUNTRIES

:

China

 

MERCHANDISE IMPORTED

:

Raw material

 

EXPORT VALUE

:

597.805 TL

(2011)

272.551 TL

(01.01-31.03.2012)

 

 

EXPORT COUNTRIES

:

Yemen

 

MERCHANDISE  EXPORTED

:

Rubber

 

HEAD OFFICE ADDRESS

:

Ataturk Mah. No:39 Izmir Ankara Asfalti Uzeri Ulucak Kemalpasa Izmir / Turkey

 

BRANCHES

:

Factory  :  Ata Bulvari No:1 1. Organize Sanayi Bolgesi Bilecik/Turkey

 

 

SIZE OF BUSINESS

:

Medium

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Pinarbasi Branch

 

CREDIT FACILITIES

:

The subject rarely makes use of credit facilities.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2011) TL

(01.01-31.03.2012) TL

Net Sales

12.140.232

2.800.126

Profit (Loss) Before Tax

-167.092

-550.836

Stockholders' Equity

4.213.530

 

Total Assets

5.720.223

 

Current Assets

5.665.905

 

Non-Current Assets

54.318

 

Current Liabilities

1.506.693

 

Long-Term Liabilities

0

 

Gross Profit (loss)

882.816

-179.684

Operating Profit (loss)

-164.715

-565.323

Net Profit (loss)

-167.092

-550.836

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

High As of 31.12.2011

Liquidity

High As of 31.12.2011

Profitability

Operating Loss  in 2011

Net Loss  in 2011

Gross Loss (01.01-31.03.2012)

Operating Loss (01.01-31.03.2012)

Net Loss (01.01-31.03.2012)

 

Gap between average collection and payable periods

In order in 2011

General Financial Position

Unsatisfactory

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-31.03.2012)

0,65 %

1,7995

2,3799

2,8402

 ( 01.01-30.06.2012)

1,95 %

1,8028

2,3463

2,8462

 

 

BALANCE SHEETS

 

 

 ( 31.12.2011 )  TL

 

 

 

CURRENT ASSETS

5.665.905

0,99

 

 

Not Detailed Current Assets

0

0,00

 

 

Cash and Banks

698.253

0,12

 

 

Marketable Securities

0

0,00

 

 

Account Receivable

1.193.965

0,21

 

 

Other Receivable

125.407

0,02

 

 

Inventories

2.328.992

0,41

 

 

Advances Given

1.135.956

0,20

 

 

Accumulated Construction Expense

0

0,00

 

 

Other Current Assets

183.332

0,03

 

 

NON-CURRENT ASSETS

54.318

0,01

 

 

Not Detailed Non-Current Assets

0

0,00

 

 

Long-term Receivable

0

0,00

 

 

Financial Assets

0

0,00

 

 

Tangible Fixed Assets (net)

38.030

0,01

 

 

Intangible Assets

0

0,00

 

 

Deferred Tax Assets

0

0,00

 

 

Other Non-Current Assets

16.288

0,00

 

 

TOTAL ASSETS

5.720.223

1,00

 

 

CURRENT LIABILITIES

1.506.693

0,26

 

 

Not Detailed Current Liabilities

0

0,00

 

 

Financial Loans

23.788

0,00

 

 

Accounts Payable

1.164.314

0,20

 

 

Loans from Shareholders

64.255

0,01

 

 

Other Short-term Payable

133.791

0,02

 

 

Advances from Customers

22.946

0,00

 

 

Accumulated Construction Income

0

0,00

 

 

Taxes Payable

97.599

0,02

 

 

Provisions

0

0,00

 

 

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

4.213.530

0,74

 

 

Not Detailed Stockholders' Equity

4.213.530

0,74

 

 

Paid-in Capital

0

0,00

 

 

Cross Shareholding Adjustment of Capital

0

0,00

 

 

Inflation Adjustment of Capital

0

0,00

 

 

Equity of Consolidated Firms

0

0,00

 

 

Reserves

0

0,00

 

 

Revaluation Fund

0

0,00

 

 

Accumulated Losses(-)

0

0,00

 

 

Net Profit (loss)

0

0,00

 

 

TOTAL LIABILITIES AND EQUITY

5.720.223

1,00

 

 

 

REMARKS ON FINANCIAL STATEMENT

:

At the financial statements according to TAS, "Cheques Received" and "Outstanding Cheques" figures are under "Cash And Banks" figure. Beginning from the financial statements of 31.12.2011, "Cheques Received" and "Outstanding Cheques" figures are given under "Account Receivable" figure and "Account Payable" figure respectively.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

 

 

INCOME STATEMENTS

 

 

(2011) TL

 

(01.01-31.03.2012) TL

 

Net Sales

12.140.232

1,00

2.800.126

1,00

Cost of Goods Sold

11.257.416

0,93

2.979.810

1,06

Gross Profit

882.816

0,07

-179.684

-0,06

Operating Expenses

1.047.531

0,09

385.639

0,14

Operating Profit

-164.715

-0,01

-565.323

-0,20

Other Income

27.792

0,00

36.087

0,01

Other Expenses

30.001

0,00

21.600

0,01

Financial Expenses

168

0,00

0

0,00

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

-167.092

-0,01

-550.836

-0,20

Tax Payable

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

-167.092

-0,01

-550.836

-0,20

 

 

FINANCIAL RATIOS

 

 

(2011)

 

LIQUIDITY RATIOS

 

 

Current Ratio

3,76

 

Acid-Test Ratio

1,34

 

Cash Ratio

0,46

 

ASSET STRUCTURE RATIOS

 

 

Inventory/Total Assets

0,41

 

Short-term Receivable/Total Assets

0,23

 

Tangible Assets/Total Assets

0,01

 

TURNOVER RATIOS

 

 

Inventory Turnover

4,83

 

Stockholders' Equity Turnover

2,88

 

Asset Turnover

2,12

 

FINANCIAL STRUCTURE

 

 

Stockholders' Equity/Total Assets

0,74

 

Current Liabilities/Total Assets

0,26

 

Financial Leverage

0,26

 

Gearing Percentage

0,36

 

PROFITABILITY RATIOS

 

 

Net Profit/Stockholders' Eq.

-0,04

 

Operating Profit Margin

-0,01

 

Net Profit Margin

-0,01

 

Interest Cover

-993,60

 

COLLECTION-PAYMENT

 

 

Average Collection Period (days)

35,41

 

Average Payable Period (days)

37,23

 

WORKING CAPITAL

4159212,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.81

UK Pound

1

Rs.87.67

Euro

1

Rs.68.45

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.