MIRA INFORM REPORT

 

 

Report Date :           

30.01.2012

 

IDENTIFICATION DETAILS

 

Name :

DOPAN ORMAN URUNLERI IC VE DIS TICARET LTD. STI. 

 

 

Formerly Known As :

Oz-Pa Ic ve Dis Ticaret Ltd. Sti.

 

 

Registered Office :

Eksioglu Mahallesi Yeni Sile Sokak No:49 Cekmekoy Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

05.02.1999

 

 

Com. Reg. No.:

413542

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Processing and trade of wood products and insulation materials

 

 

No. of Employees :

30

 

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 – 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

:

DOPAN ORMAN URUNLERI IC VE DIS TICARET LTD. STI.

HEAD OFFICE ADDRESS

:

Eksioglu Mahallesi Yeni Sile Sokak No:49 Cekmekoy Istanbul / Turkey

REMARKS ON HEAD OFFICE ADDRESS

:

The address was changed from "Eksioglu Mahallesi Sile Otobani No:271(14-15-16-17-18-19-20-21-22-23-24) parseller Cekmekoy/Istanbul" to "Eksioglu Mahallesi Yeni Sile Sokak No:49 Cekmekoy/Istanbul" by the municipality.

PHONE NUMBER

:

90-216-430 82 10

 

FAX NUMBER

:

90-216-312 75 49

 

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Sultanbeyli

TAX NO

:

7050080615

REGISTRATION NUMBER

:

413542

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

05.02.1999

ESTABLISHMENT GAZETTE DATE /NO

:

11.02.1999/4729

LEGAL FORM

:

Limited Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   500.000

PAID-IN CAPITAL

:

TL   500.000

HISTORY

:

Previous Name

:

Oz-Pa Ic ve Dis Ticaret Ltd. Sti.

Changed On

:

18.04.2007 (Commercial Gazette Date /Number 25.04.2007/ 6794)

Previous Registered Capital

:

TL 1.000

Changed On

:

30.12.2005 (Commercial Gazette Date /Number 19.01.2006/ 6474)

Previous Shareholder

:

Please vide Previous Shareholders section for the former shareholders' names.

Changed On

:

01.08.2011 (Commercial Gazette Date /Number 08.08.2011/ 7875)

 

 

 

PREVIOUS SHAREHOLDERS

:

Necmi Ozsoy

50 %

Baris Cevik

50 %

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Ozcan Ozsoy

50 %

Necmi Ozsoy

50 %

 

 

SISTER COMPANIES

:

OZYAPI INSAAT TEMIZLIK ORMAN URUNLERI VE NAKLIYE SANAYI TICARET A.S

 

SUBSIDIARIES

:

None

 

DIRECTORS

:

Necmi Ozsoy

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Processing and trade of wood products and insulation materials.

 

NUMBER OF EMPLOYEES

:

30

 

NET SALES

:

5.737.122 TL

(2009) 

11.025.644 TL

(2010) 

22.505.670 TL

(01.01-30.09.2011) 

 

 

IMPORT VALUE

:

118.187 USD

(01.01-30.09.2011)

 

 

IMPORT COUNTRIES

:

Austria

 

MERCHANDISE IMPORTED

:

Plaster mesh

 

EXPORT VALUE

:

0 TL

(2010)

0 TL

(01.01-30.09.2011)

 

HEAD OFFICE ADDRESS

:

Eksioglu Mahallesi Yeni Sile Sokak No:49 Cekmekoy Istanbul / Turkey

 

BRANCHES

:

Store  :   Bartin/Turkey (rented) (1.000 sqm)

 

Head Office/Processing Plant  :  Eksioglu Mahallesi Yeni Sile Sokak No:49 Cekmekoy Istanbul/Turkey (rented) (10.000 sqm)

 

Branch Office  :  Gebze Kocaeli/Turkey (rented) (1.000 sqm)

 

 

 

TREND OF BUSINESS

:

There was an upwards trend in 2010. There appears an upwards trend in 1.1 - 30.9.2011.

SIZE OF BUSINESS

:

Upper-Moderate

 

 

FINANCE

 

MAIN DEALING BANKS

:

HSBC Bank Imes Branch

ING Bank Hasanpasa Branch

T. Garanti Bankasi Umraniye Branch

T. Is Bankasi Umraniye 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

:

 

(2009) TL

(2010) TL

(01.01-30.09.2011) TL

 

 

Net Sales

5.737.122

11.025.644

22.505.670

 

 

Profit (Loss) Before Tax

34.752

112.861

79.454

 

 

Stockholders' Equity

546.879

648.019

 

 

 

Total Assets

1.062.769

2.842.500

 

 

 

Current Assets

1.019.910

1.381.639

 

 

 

Non-Current Assets

42.859

1.460.861

 

 

 

Current Liabilities

515.890

2.041.750

 

 

 

Long-Term Liabilities

0

152.731

 

 

 

Gross Profit (loss)

390.510

731.299

1.314.330

 

 

Operating Profit (loss)

355.051

404.260

922.119

 

 

Net Profit (loss)

27.650

88.036

79.454

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Insufficient As of 31.12.2010

Remarks on Capitalization

A part of liabilities consist of loans from shareholders.

Liquidity

Low As of 31.12.2010

Remarks On Liquidity

A part of current liabilities consist of short-term loans from shareholders rather than liabilities to third parties. 

 

The favorable gap between average collection and average payable period has a positive effect on liquidity.

 

Profitability

Good Operating Profitability  in 2009

Low Net Profitability  in 2009

In Order Operating Profitability  in 2010

Low Net Profitability  in 2010

In Order Operating Profitability (01.01-30.09.2011)

Low Net Profitability (01.01-30.09.2011)

 

Gap between average collection and payable periods

Favorable in 2010

General Financial Position

Unsatisfactory

 

 

 

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

 ( 01.01-30.09.2011)

9,72 %

1,6335

2,3016

2,6294

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 

 

BALANCE SHEETS

 

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

CURRENT ASSETS

1.019.910

0,96

1.381.639

0,49

Not Detailed Current Assets

0

0,00

0

0,00

Cash and Banks

20.255

0,02

5.301

0,00

Marketable Securities

0

0,00

0

0,00

Account Receivable

418.670

0,39

784.252

0,28

Other Receivable

229.908

0,22

982

0,00

Inventories

337.862

0,32

87.029

0,03

Advances Given

5.000

0,00

436.859

0,15

Accumulated Construction Expense

0

0,00

0

0,00

Other Current Assets

8.215

0,01

67.216

0,02

NON-CURRENT ASSETS

42.859

0,04

1.460.861

0,51

Not Detailed Non-Current Assets

0

0,00

0

0,00

Long-term Receivable

0

0,00

0

0,00

Financial Assets

0

0,00

0

0,00

Tangible Fixed Assets (net)

40.380

0,04

1.055.583

0,37

Intangible Assets

0

0,00

396.604

0,14

Deferred Tax Assets

0

0,00

0

0,00

Other Non-Current Assets

2.479

0,00

8.674

0,00

TOTAL ASSETS

1.062.769

1,00

2.842.500

1,00

CURRENT LIABILITIES

515.890

0,49

2.041.750

0,72

Not Detailed Current Liabilities

0

0,00

0

0,00

Financial Loans

35.358

0,03

506.172

0,18

Accounts Payable

280.792

0,26

1.254.073

0,44

Loans from Shareholders

0

0,00

224.218

0,08

Other Short-term Payable

2.851

0,00

7.885

0,00

Advances from Customers

192.475

0,18

24.318

0,01

Accumulated Construction Income

0

0,00

0

0,00

Taxes Payable

5.396

0,01

18.229

0,01

Provisions

-982

0,00

2.869

0,00

Other Current Liabilities

0

0,00

3.986

0,00

LONG-TERM LIABILITIES

0

0,00

152.731

0,05

Not Detailed Long-term Liabilities

0

0,00

0

0,00

Financial Loans

0

0,00

152.731

0,05

Securities Issued

0

0,00

0

0,00

Long-term Payable

0

0,00

0

0,00

Loans from Shareholders

0

0,00

0

0,00

Other Long-term Liabilities

0

0,00

0

0,00

Provisions

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

546.879

0,51

648.019

0,23

Not Detailed Stockholders' Equity

0

0,00

0

0,00

Paid-in Capital

500.000

0,47

500.000

0,18

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

Inflation Adjustment of Capital

0

0,00

0

0,00

Equity of Consolidated Firms

0

0,00

0

0,00

Reserves

32.333

0,03

59.983

0,02

Revaluation Fund

0

0,00

0

0,00

Accumulated Losses(-)

-13.104

-0,01

0

0,00

Net Profit (loss)

27.650

0,03

88.036

0,03

TOTAL LIABILITIES AND EQUITY

1.062.769

1,00

2.842.500

1,00

 

 

INCOME STATEMENTS

 

 

(2009) TL

 

(2010) TL

 

(01.01-30.09.2011) TL

 

Net Sales

5.737.122

1,00

11.025.644

1,00

22.505.670

1,00

Cost of Goods Sold

5.346.612

0,93

10.294.345

0,93

21.191.340

0,94

Gross Profit

390.510

0,07

731.299

0,07

1.314.330

0,06

Operating Expenses

35.459

0,01

327.039

0,03

392.211

0,02

Operating Profit

355.051

0,06

404.260

0,04

922.119

0,04

Other Income

6.578

0,00

105.030

0,01

108.338

0,00

Other Expenses

5.668

0,00

11.703

0,00

21.713

0,00

Financial Expenses

321.209

0,06

384.726

0,03

929.290

0,04

Minority Interests

0

0,00

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

0

0,00

Profit (loss) Before Tax

34.752

0,01

112.861

0,01

79.454

0,00

Tax Payable

7.102

0,00

24.825

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

Net Profit (loss)

27.650

0,00

88.036

0,01

79.454

0,00

 

FINANCIAL RATIOS

 

 

(2009)

(2010)

LIQUIDITY RATIOS

 

 

Current Ratio

1,98

0,68

Acid-Test Ratio

1,30

0,39

Cash Ratio

0,04

0,00

ASSET STRUCTURE RATIOS

 

 

Inventory/Total Assets

0,32

0,03

Short-term Receivable/Total Assets

0,61

0,28

Tangible Assets/Total Assets

0,04

0,37

TURNOVER RATIOS

 

 

Inventory Turnover

15,82

118,29

Stockholders' Equity Turnover

10,49

17,01

Asset Turnover

5,40

3,88

FINANCIAL STRUCTURE

 

 

Stockholders' Equity/Total Assets

0,51

0,23

Current Liabilities/Total Assets

0,49

0,72

Financial Leverage

0,49

0,77

Gearing Percentage

0,94

3,39

PROFITABILITY RATIOS

 

 

Net Profit/Stockholders' Eq.

0,05

0,14

Operating Profit Margin

0,06

0,04

Net Profit Margin

0,00

0,01

Interest Cover

1,11

1,29

COLLECTION-PAYMENT

 

 

Average Collection Period (days)

26,27

25,61

Average Payable Period (days)

18,91

43,86

WORKING CAPITAL

504020,00

-660111,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.65

UK Pound

1

Rs.77.80

Euro

1

Rs.65.05

 

 

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.