MIRA INFORM REPORT

 

 

Report Date :

30.08.2012

 

IDENTIFICATION DETAILS

 

Name :

ASELSAN ELEKTRONIK SANAYI VE TICARET A.S.

 

 

Formerly Known As :

Aselsan Askeri Elektronik Sanayi ve Ticaret A.S.

 

 

Registered Office :

Mehmet Akif Ersoy Mah. 296. Cad. No: 16 Macunkoy P.K. 101 06370 Yenimahalle Ankara

 

 

Country :

Turkey

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

14.11.1975

 

 

Com. Reg. No.:

31177

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Research, development, engineering, production, tests, assembly, integration and sales, after sales support, consultancy and trading to provide all types of activities for project making and internet services

 

 

No. of Employees :

5.000 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Turkey

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

REMARKS

:

The name stated at your inquiry "ASELSAN ELECTRONICS IND. INC." is English short name of the subject.

 

The address at your inquiry is the post box address.

 

 

 

COMPANY IDENTIFICATION

 

NAME

:

ASELSAN ELEKTRONIK SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Mehmet Akif Ersoy Mah. 296. Cad. No: 16 Macunkoy P.K. 101 06370 Yenimahalle Ankara / Turkey

REMARKS ON HEAD OFFICE ADDRESS

:

The street number was changed from “16” to “296” by the Municipality.

PHONE NUMBER

:

90-312-592 10 00 (Head Office/Factory)

90-312-847 53 00 (Factory)

 

FAX NUMBER

:

90-312-354 13 02 (Head Office/Factory)

90-312-847 53 20 (Factory)

 

WEB-ADDRESS

:

www.aselsan.com.tr

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Yenimahalle

TAX NO

:

0860042250

REGISTRATION NUMBER

:

31177

REGISTERED OFFICE

:

Ankara Chamber of Commerce

DATE ESTABLISHED

:

14.11.1975

REMARKS ON DATE ESTABLISHED

:

Aselsan was founded by Turkish Armed Forces Foundation at the end of 1975 to manufacture tactical military radios and defense electronic systems for the Turkish Army.

LEGAL FORM

:

Joint Stock Company

AUTHORIZED CAPITAL

:

TL   500.000.000

PAID-IN CAPITAL

:

TL   500.000.000

HISTORY

:

Previous Name

:

Aselsan Askeri Elektronik Sanayi ve Ticaret A.S.

Changed On

:

02.04.1997 (Commercial Gazette Date /Number 04.04.1997/ 4264)

Other Changes

:

According to the decision taken at the General Assembly Meeting dated 31.03.2008, the authorized capital was increased from TL 60.000.000 to TL 500.000.000.

Other Changes

:

The paid-in capital was increased from TL 29.403.000 to TL 117.612.000.

Changed On

:

27.06.2008 (Commercial Gazette Date /Number 02.07.2008/ 7096)

Other Changes

:

The paid-in capital was increased from TL 117.612.000 to TL 235.224.000.

Changed On

:

26.05.2010 (Commercial Gazette Date /Number 31.05.2010/ 7574)

Other Changes

:

The paid-in capital was increased from TL 235.224.000 to TL 500.000.000

Changed On

:

24.07.2012 (Commercial Gazette Date /Number 27.07.2012/ 8121)

 

 

OWNERSHIP / MANAGEMENT

 

NOTES ON OWNERSHIP / MANAGEMENT

:

Quoted at Stock Exchange.

 

 

SHAREHOLDERS

:

Turk Silahli Kuvvetlerini Guclendirme Vakfi

84,58 %

Open to public

15,30 %

Others

0,12 %

 

 

REMARKS ON SHAREHOLDERS

:

Turk Silahli Kuvvetlerini Guclendirme Vakfi is the Turkish Army Strengthening Foundation.

 

SUBSIDIARIES

:

MIKES MIKRODALGA ELEKTRONIK SISTEMLER SANAYI VE TICARET A.S.  ( 96,36 % )

 

 

BOARD OF DIRECTORS

:

Necmettin Baykul

Chairman

Birol Erdem

Vice-Chairman

Lamia Zeynep Onay

Member

Erhan Akporay

Member

Cumhur Sait Sahin Tulga

Member

Ahmet Senol

Member

Osman Kapani aktas

Member

Halil Sariaslan

Member

 

 

DIRECTORS

:

Cengiz Ergeneman                                                                                                                                                                                                                                                                                   

General Manager

Ozcan Kahramangil                                                                                                                                                                                                                                                                                   

Deputy General Manager

Ergun Bora                                                                                                                                                                                                                                                                                   

Deputy General Manager

Faik Eken                                                                                                                                                                                                                                                                                   

Deputy General Manager

Ahmet Demir                                                                                                                                                                                                                                                                                   

Deputy General Manager

Fuat Akcayoz                                                                                                                                                                                                                                                                                   

Deputy General Manager

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Research, development, engineering, production, tests, assembly, integration and sales, after sales support, consultancy and trading to provide all types of activities for project making and internet services regarding various software, electrical, microwave, mechanics and related subjects within the army, navy, air force and aerospace applications to all instutions, organizations, companies and individual consumers. In the beginning of 1979, the company started its production at Macunkoy-Ankara facilities. Today Aselsan is a multi-technology, multi-product electronics company that designs, develops and manufactures modern electronic systems and equipment for both military and professional customers inside and outside the country.

 

The firm markets its products through agencies in the big cities of Turkey.  

 

NACE CODE

:

K .73.10

 

SECTOR

:

Electronics

 

NUMBER OF EMPLOYEES

:

5.000

 

REMARKS ON NUMBER OF EMPLOYEES

:

The number of employees is the consolidated figure as of 31.03.2012.

 

 

NET SALES

:

6.728.061 TL

(1995) 

12.583.876 TL

(1996) 

26.202.647 TL

(1997) 

45.488.626 TL

(1998) 

82.053.106 TL

(1999) 

140.592.016 TL

(2000) 

261.496.091 TL

(2001) 

318.807.908 TL

(2002) 

322.733.217 TL

(2003) 

370.953.783 TL

(2004) 

440.415.774 TL

(2005) 

513.117.591 TL

(2006) 

668.539.720 TL

(2007) 

705.898.964 TL

(2008) 

1.037.675.524 TL

(2009) 

1.189.786.590 TL

(2010) 

1.501.879 TL Thousand

(2011) 

386.677.382 TL

(01.01-31.03.2012) 

 

 

IMPORT VALUE

:

78.538.707 USD

(1996)

105.724.815 USD

(1997)

110.348.125 USD

(1998)

122.281.111 USD

(1999)

120.525.891 USD

(2000)

70.175.964 USD

(2001)

65.663.476 USD

(2002)

79.942.862 USD

(2003)

96.714.818 USD

(2004)

123.708.760 USD

(2005)

137.706.330 USD

(2006)

191.717.808 USD

(2007)

250.860.468 USD

(2008)

309.529.130 TL

(2009)

323.482.256 TL

(2010)

564.578.465 TL

(2011)

135.633.077 TL

(01.01-31.03.2012)

 

 

IMPORT COUNTRIES

:

Germany

Japan

Netherlands

France

U.K.

 

MERCHANDISE IMPORTED

:

Intermediary goods

 

 

EXPORT VALUE

:

30.443.000 USD

(1996)

23.783.797 USD

(1997)

16.061.984 USD

(1998)

23.596.154 USD

(1999)

17.841.132 TL

(2000)

19.361.604 USD

(2001)

19.159.338 TL

(2002)

32.795.026 USD

(2003)

33.223.731 USD

(2004)

27.225.224 TL

(2005)

16.402.332 TL

(2006)

29.160.244 TL

(2007)

86.276.173 TL

(2008)

101.887.040 TL

(2009)

75.532.199 TL

(2010)

82.482.409 TL

(2011)

37.000.032 TL

(01.01-31.03.2012)

 

 

EXPORT COUNTRIES

:

Netherlands

Northern Cyprus Turkish Republic

Pakistan

Azerbaijan

U.S.A.

Oman

Italy

Singapore

Kazakhstan

Luxembourg

South Korea

Macedonia Republic

Tajikistan

Spain

Poland

France

Uruguay

Saudi Arabia

 

MERCHANDISE  EXPORTED

:

Digital computers

Electronic signaling apparatus

Signal generators

 

HEAD OFFICE ADDRESS

:

Mehmet Akif Ersoy Mah. 296. Cad. No: 16 Macunkoy P.K. 101 06370 Yenimahalle  Ankara / Turkey ( owned )

 

BRANCHES

:

Factory  :  Cankiri Yolu 7.Km. 06750 Etlik  Akyurt Ankara/Turkey (owned) (23.000 sqm)

 

Factory  :  10016. Sok. No:16 Ataturk Organize Sanayi Bolgesi Cigli Izmir/Turkey

 

Head Office/Factory  :  Mehmet Akif Ersoy Mah. 296. Cad. No: 16 Macunkoy P.K. 101 06370 Yenimahalle Ankara/Turkey (owned)

 

Branch Office  :  No:101 06172 Yenimahalle Ankara/Turkey

 

Branch Office  :  Sisli Istanbul/Turkey

                                                                                

INVESTMENTS

:

Investments are going on.

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2011.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

MAIN DEALING BANKS

:

Turkiye Is Bankasi Yenisehir Branch

Turkiye Is Bankasi Izmir 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

:

 

(2008) TL

(2009) TL

(2010) TL

(2011) TL Thousand

(01.01-31.03.2012) TL

Net Sales

705.898.964

1.037.675.524

1.189.786.590

1.501.879

386.677.382

Profit (Loss) Before Tax

9.597.689

162.259.602

229.088.433

124.319

85.600.523

Stockholders' Equity

484.477.895

659.864.536

844.037.006

1.018.816

1.060.428.435

Total Assets

1.712.604.000

2.484.442.965

2.755.918.855

2.392.044

2.716.585.302

Current Assets

1.053.329.109

1.899.096.369

2.003.805.431

1.387.663

1.599.537.868

Non-Current Assets

659.274.891

585.346.596

752.113.424

1.004.381

1.117.047.434

Current Liabilities

474.417.778

793.420.165

604.444.995

426.813

517.653.770

Long-Term Liabilities

753.708.327

1.031.158.264

1.307.436.854

946.415

1.138.503.097

Gross Profit (loss)

213.417.072

307.270.744

375.330.605

396.104

93.612.658

Operating Profit (loss)

81.762.216

156.159.452

214.620.970

234.376

48.912.757

Net Profit (loss)

12.189.105

185.364.995

240.719.971

160.755

88.472.286

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

THE DETAILS OF THE CAPITAL INCREASE  AFTER LAST BALANCE SHEET

 

:

Cash Part

:

Equity Part

:264.776.000 TL

Payment Due Date

:24.07.2012

 

Capitalization

Satisfactory As of 31.03.2012

Remarks on Capitalization

There has been capital increase after the last balance sheet date. The increase is decided to be financed by equity items so the capital increase is not expected to have a positive effect on equity total.

 

Liquidity

High As of 31.03.2012

Remarks On Liquidity

The unfavorable gap between average collection and average payable period has an adverse effect on liquidity.

Profitability

High Operating Profitability  in 2008

Low Net Profitability  in 2008

High Operating Profitability  in 2009

High Net Profitability  in 2009

High Operating Profitability  in 2010

High Net Profitability  in 2010

High Operating Profitability  in 2011

High Net Profitability  in 2011

High Operating Profitability (01.01-31.03.2012)

High Net Profitability (01.01-31.03.2012)

 

Gap between average collection and payable periods

Unfavorable in 01.01-31.03.2012

General Financial Position

In Order

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 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

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-31.03.2012)

0,65 %

1,7995

2,3799

2,8402

 ( 01.01-31.07.2012)

1,71 %

1,8018

2,3285

2,8424

 

 

NOTES ON FINANCIAL STATEMENTS

:

Financial statements are consolidated..

 

 

BALANCE SHEETS

 

 

 ( 31.12.2008 )  TL

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

 ( 31.12.2011 )  TL Thousand

 

 ( 31.03.2012 )  TL

 

CURRENT ASSETS

1.053.329.109

0,62

1.899.096.369

0,76

2.003.805.431

0,73

1.387.663

0,58

1.599.537.868

0,59

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Cash and Banks

125.362.055

0,07

642.040.945

0,26

600.696.797

0,22

179.460

0,08

342.422.395

0,13

Marketable Securities

4.818.310

0,00

5.950.552

0,00

5.927.597

0,00

2.267

0,00

2.209.871

0,00

Account Receivable

100.176.988

0,06

194.811.907

0,08

307.785.288

0,11

275.148

0,12

265.199.747

0,10

Other Receivable

10.116.981

0,01

12.335.427

0,00

9.193.047

0,00

19.674

0,01

22.573.744

0,01

Inventories

627.586.475

0,37

542.762.681

0,22

487.500.375

0,18

551.915

0,23

550.765.108

0,20

Advances Given

0

0,00

125.261.624

0,05

153.851.940

0,06

229.778

0,10

264.116.518

0,10

Accumulated Construction Expense

0

0,00

0

0,00

339.506.821

0,12

0

0,00

0

0,00

Other Current Assets

185.268.300

0,11

375.933.233

0,15

99.343.566

0,04

129.421

0,05

152.250.485

0,06

NON-CURRENT ASSETS

659.274.891

0,38

585.346.596

0,24

752.113.424

0,27

1.004.381

0,42

1.117.047.434

0,41

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Receivable

8.317.797

0,00

14.986.110

0,01

27.253.482

0,01

186.448

0,08

247.215.945

0,09

Financial Assets

9.963.235

0,01

9.963.235

0,00

10.003.355

0,00

9.484

0,00

9.484.215

0,00

Tangible Fixed Assets (net)

222.452.753

0,13

230.634.396

0,09

452.335.023

0,16

350.345

0,15

353.323.914

0,13

Intangible Assets

301.143.026

0,18

95.669.542

0,04

107.490.924

0,04

172.200

0,07

196.688.089

0,07

Deferred Tax Assets

0

0,00

90.232.923

0,04

142.722.312

0,05

91.929

0,04

93.990.950

0,03

Other Non-Current Assets

117.398.080

0,07

143.860.390

0,06

12.308.328

0,00

193.975

0,08

216.344.321

0,08

TOTAL ASSETS

1.712.604.000

1,00

2.484.442.965

1,00

2.755.918.855

1,00

2.392.044

1,00

2.716.585.302

1,00

CURRENT LIABILITIES

474.417.778

0,28

793.420.165

0,32

604.444.995

0,22

426.813

0,18

517.653.770

0,19

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

30.180.244

0,02

370.019.636

0,15

104.040.496

0,04

15.090

0,01

53.522.860

0,02

Accounts Payable

66.909.816

0,04

75.834.200

0,03

90.503.597

0,03

161.381

0,07

151.764.042

0,06

Loans from Shareholders

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Short-term Payable

14.539.990

0,01

12.051.868

0,00

13.824.015

0,01

23.355

0,01

68.886.362

0,03

Advances from Customers

0

0,00

275.857.749

0,11

335.975.186

0,12

125.805

0,05

143.627.115

0,05

Accumulated Construction Income

0

0,00

0

0,00

2.336.400

0,00

0

0,00

0

0,00

Taxes Payable

0

0,00

0

0,00

0

0,00

107

0,00

107.422

0,00

Provisions

30.298.318

0,02

47.334.560

0,02

49.230.121

0,02

90.606

0,04

92.518.309

0,03

Other Current Liabilities

332.489.410

0,19

12.322.152

0,00

8.535.180

0,00

10.469

0,00

7.227.660

0,00

LONG-TERM LIABILITIES

753.708.327

0,44

1.031.158.264

0,42

1.307.436.854

0,47

946.415

0,40

1.138.503.097

0,42

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

2.390.771

0,00

39.668.729

0,02

39.860.947

0,01

124.628

0,05

116.816.632

0,04

Securities Issued

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Payable

8.204.730

0,00

3.276.446

0,00

2.169.300

0,00

32.737

0,01

40.092.553

0,01

Loans from Shareholders

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Long-term Liabilities

699.655.445

0,41

910.383.703

0,37

1.144.473.234

0,42

704.384

0,29

895.086.052

0,33

Provisions

43.457.381

0,03

77.829.386

0,03

120.933.373

0,04

84.666

0,04

86.507.860

0,03

STOCKHOLDERS' EQUITY

484.477.895

0,28

659.864.536

0,27

844.037.006

0,31

1.018.816

0,43

1.060.428.435

0,39

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Paid-in Capital

117.612.000

0,07

117.612.000

0,05

235.224.000

0,09

235.224

0,10

235.224.000

0,09

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Inflation Adjustment of Capital

0

0,00

132.773.042

0,05

132.773.042

0,05

132.773

0,06

132.773.042

0,05

Equity of Consolidated Firms

-18.431

0,00

-1.490.264

0,00

-108.124

0,00

11

0,00

195.555

0,00

Reserves

221.922.179

0,13

224.715.413

0,09

234.527.843

0,09

490.053

0,20

603.763.552

0,22

Revaluation Fund

132.773.042

0,08

889.350

0,00

900.274

0,00

0

0,00

0

0,00

Accumulated Losses(-)

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

12.189.105

0,01

185.364.995

0,07

240.719.971

0,09

160.755

0,07

88.472.286

0,03

TOTAL LIABILITIES AND EQUITY

1.712.604.000

1,00

2.484.442.965

1,00

2.755.918.855

1,00

2.392.044

1,00

2.716.585.302

1,00

 

REMARKS ON FINANCIAL STATEMENT

:

The financial statements of 2008, 2009 and 2010 have been prepared by the consolidation of the financial statements of "Mikes Mikrodalga Elektronik Sistemler Sanayi ve Ticaret A.S. (96,36%)".  The financial statement of 2011 and 01.01-31.03.2012 have been prepared by the consolidation of the financial statements of "Mikes Mikrodalga Elektronik Sistemler Sanayi ve Ticaret A.S. (96,36%)" and "Aselsannet Elektronik Ve Haberlesme Sistemleri Sanayi Ticaret Insaat Ve Taahhut Ltd. Sti. (95 %)". 

 

 

 

INCOME STATEMENTS

 

 

(2008) TL

 

(2009) TL

 

(2010) TL

 

(2011) TL Thousand

 

(01.01-31.03.2012) TL

 

Net Sales

705.898.964

1,00

1.037.675.524

1,00

1.189.786.590

1,00

1.501.879

1,00

386.677.382

1,00

Cost of Goods Sold

492.481.892

0,70

730.404.780

0,70

814.455.985

0,68

1.105.775

0,74

293.064.724

0,76

Gross Profit

213.417.072

0,30

307.270.744

0,30

375.330.605

0,32

396.104

0,26

93.612.658

0,24

Operating Expenses

131.654.856

0,19

151.111.292

0,15

160.709.635

0,14

161.728

0,11

44.699.901

0,12

Operating Profit

81.762.216

0,12

156.159.452

0,15

214.620.970

0,18

234.376

0,16

48.912.757

0,13

Other Income

0

0,00

180.523.110

0,17

284.426.650

0,24

362.038

0,24

115.774.774

0,30

Other Expenses

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Expenses

76.173.873

0,11

175.913.013

0,17

269.740.658

0,23

472.447

0,31

78.871.418

0,20

Minority Interests

0

0,00

0

0,00

-218.529

0,00

352

0,00

-215.590

0,00

Profit (loss) of consolidated firms

4.009.346

0,01

1.490.053

0,00

0

0,00

0

0,00

0

0,00

Profit (loss) Before Tax

9.597.689

0,01

162.259.602

0,16

229.088.433

0,19

124.319

0,08

85.600.523

0,22

Tax Payable

0

0,00

0

0,00

0

0,00

917

0,00

1.536.202

0,00

Postponed Tax Gain

2.591.416

0,00

23.105.393

0,02

11.631.538

0,01

37.353

0,02

4.407.965

0,01

Net Profit (loss)

12.189.105

0,02

185.364.995

0,18

240.719.971

0,20

160.755

0,11

88.472.286

0,23

 

FINANCIAL RATIOS

 

 

(2008)

(2009)

(2010)

(2011)

(01.01-31.03.2012)

LIQUIDITY RATIOS

Current Ratio

2,22

2,39

3,32

3,25

3,09

Acid-Test Ratio

0,51

1,08

1,53

1,12

1,22

Cash Ratio

0,27

0,82

1,00

0,43

0,67

ASSET STRUCTURE RATIOS

Inventory/Total Assets

0,37

0,22

0,18

0,23

0,20

Short-term Receivable/Total Assets

0,06

0,08

0,12

0,12

0,11

Tangible Assets/Total Assets

0,13

0,09

0,16

0,15

0,13

TURNOVER RATIOS

Inventory Turnover

0,78

1,35

1,67

2,00

0,53

Stockholders' Equity Turnover

1,46

1,57

1,41

1,47

0,36

Asset Turnover

0,41

0,42

0,43

0,63

0,14

FINANCIAL STRUCTURE

Stockholders' Equity/Total Assets

0,28

0,27

0,31

0,43

0,39

Current Liabilities/Total Assets

0,28

0,32

0,22

0,18

0,19

Financial Leverage

0,72

0,73

0,69

0,57

0,61

Gearing Percentage

2,53

2,77

2,27

1,35

1,56

PROFITABILITY RATIOS

Net Profit/Stockholders' Eq.

0,03

0,28

0,29

0,16

0,08

Operating Profit Margin

0,12

0,15

0,18

0,16

0,13

Net Profit Margin

0,02

0,18

0,20

0,11

0,23

Interest Cover

1,13

1,92

1,85

1,26

2,09

COLLECTION-PAYMENT

Average Collection Period (days)

55,33

72,79

101,37

110,64

477,06

Average Payable Period (days)

54,91

38,99

40,96

63,20

235,68

WORKING CAPITAL

578911331,00

1105676204,00

1399360436,00

960850,00

1081884098,00

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.67

UK Pound

1

Rs.88.05

Euro

1

Rs.69.96

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.