MIRA INFORM REPORT
|
Report Date : |
30.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
OZAGAC ORMAN URUNLERI SANAYI VE TICARET LTD.
STI. |
|
|
|
|
Registered Office : |
Zafer Koyu Ulus Bartin |
|
|
|
|
Country : |
Turkey |
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|
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|
Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
30.07.1992 |
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|
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Com. Reg. No.: |
216-Ulus |
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|
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|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture and wholesale
trade of wooden products such as timber , trade of isolation materials |
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|
|
|
No. of Employees
: |
114 |
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 |
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|
|
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Payment
Behaviour : |
Slow but Correct |
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|
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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 – 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 |
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NOTES |
: |
Address at your inquiry is not the registered head office but another
premise. |
COMPANY IDENTIFICATION
|
NAME |
: |
OZAGAC ORMAN URUNLERI SANAYI VE TICARET LTD. STI. |
|
HEAD OFFICE ADDRESS |
: |
Zafer Koyu Ulus Bartin / Turkey |
|
PHONE NUMBER |
: |
90-378-436 51 90 |
|
FAX NUMBER |
: |
90-378-436 51 91 |
LEGAL STATUS AND HISTORY
|
TAX OFFICE |
: |
Ulus Mal Mudurlugu |
|||||||||||||||||
|
TAX NO |
: |
6620091978 |
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REGISTRATION NUMBER |
: |
216-Ulus |
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REGISTERED OFFICE |
: |
Bartin Chamber of Commerce and Industry |
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DATE ESTABLISHED |
: |
30.07.1992 |
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ESTABLISHMENT GAZETTE DATE /NO |
: |
12.07.1993/3317 |
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LEGAL FORM |
: |
Limited Company |
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|
TYPE OF COMPANY |
: |
Private |
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|
REGISTERED CAPITAL |
: |
TL 3.500.000 |
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|
PAID-IN CAPITAL |
: |
TL 3.500.000 |
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|
HISTORY |
: |
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PREVIOUS
SHAREHOLDERS |
: |
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OWNERSHIP / MANAGEMENT
|
SHAREHOLDERS |
: |
|
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SISTER COMPANIES |
: |
OZSOY AHSAP URUNLERI INSAAT TURIZM NAKLIYE TICARET VE SANAYI A.S. SANTIM YAPI ENDUSTRISI VE INSAAT SANAYI TICARET
LTD.STI |
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|
DIRECTORS |
: |
|
OPERATIONS
|
BUSINESS ACTIVITIES |
: |
Manufacture and wholesale trade of wooden products such as timber ,
trade of isolation materials. |
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NACE CODE |
: |
DD.20.30 |
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SECTOR |
: |
Wooden products |
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NUMBER OF EMPLOYEES |
: |
114 |
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NET SALES |
: |
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CAPACITY |
: |
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PRODUCTION |
: |
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IMPORT VALUE |
: |
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IMPORT COUNTRIES |
: |
Austria India |
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MERCHANDISE IMPORTED |
: |
Plywood |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Georgia Azerbaijan Germany Iraq |
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MERCHANDISE EXPORTED |
: |
Fiberboard Isolation materials Plywood |
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HEAD OFFICE ADDRESS |
: |
Zafer Koyu Ulus Bartin / Turkey (owned) |
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BRANCHES |
: |
Warehouse : Kucuksu Caddesi No:93 Umraniye
Istanbul/Turkey (rented) (500 sqm) Liaison Office : Bahar Sokak Kardelen Apt. No:1 Umraniye
Istanbul/Turkey (rented) (70 sqm) Head Office/Factory : Zafer Koyu Ulus Bartin/Turkey (owned)
(10.000 sqm) |
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|
INVESTMENTS |
: |
None |
|
TREND OF BUSINESS |
: |
There was an upwards trend in
2010. There appears an upwards trend in 1.1 - 30.9.2011. |
|
SIZE OF BUSINESS |
: |
Large |
FINANCE
|
MAIN DEALING BANKS |
: |
HSBC Bank Imes Branch T.C. Ziraat Bankasi Bartin Branch Turkiye Is Bankasi Umraniye Branch Yapi ve Kredi Bankasi Bartin Branch |
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CREDIT FACILITIES |
: |
The subject company is making use of credit facilities. |
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PAYMENT BEHAVIOUR |
: |
We are informed about a few payment delays in the former years some of
which were resolved later on but no payment delays have come to our knowledge
in the last years. |
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KEY FINANCIAL ELEMENTS |
: |
|
COMMENT ON FINANCIAL POSITION
|
Capitalization |
Low As of 31.12.2010 |
|
Remarks on Capitalization |
The loss at the last period is expected to have a negative effect on
equity total since the date of last stockholders’ equity. |
|
Liquidity |
Insufficient As of 31.12.2010 |
|
Remarks On Liquidity |
The unfavorable gap between average collection and average payable
period has an adverse 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 |
Low Operating Profitability in
2009 Low Net Profitability in 2009 In Order Operating Profitability
in 2010 Low Net Profitability in 2010 Fair Operating Profitability (01.01-30.09.2011) Net Loss (01.01-30.09.2011) |
|
Gap between average collection and payable periods |
Unfavorable 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 |
22.294.221 |
0,92 |
37.282.303 |
0,96 |
|
Not Detailed Current Assets |
0 |
0,00 |
0 |
0,00 |
|
Cash and Banks |
841.358 |
0,03 |
76.320 |
0,00 |
|
Marketable Securities |
0 |
0,00 |
0 |
0,00 |
|
Account Receivable |
13.881.561 |
0,57 |
24.231.913 |
0,62 |
|
Other Receivable |
22.188 |
0,00 |
2.437.889 |
0,06 |
|
Inventories |
4.534.913 |
0,19 |
6.100.870 |
0,16 |
|
Advances Given |
2.844.015 |
0,12 |
4.118.390 |
0,11 |
|
Accumulated Construction Expense |
0 |
0,00 |
0 |
0,00 |
|
Other Current Assets |
170.186 |
0,01 |
316.921 |
0,01 |
|
NON-CURRENT ASSETS |
2.038.213 |
0,08 |
1.737.683 |
0,04 |
|
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) |
1.013.727 |
0,04 |
1.048.366 |
0,03 |
|
Intangible Assets |
1.024.486 |
0,04 |
657.732 |
0,02 |
|
Deferred Tax Assets |
0 |
0,00 |
0 |
0,00 |
|
Other Non-Current Assets |
0 |
0,00 |
31.585 |
0,00 |
|
TOTAL ASSETS |
24.332.434 |
1,00 |
39.019.986 |
1,00 |
|
CURRENT LIABILITIES |
15.105.969 |
0,62 |
29.629.801 |
0,76 |
|
Not Detailed Current Liabilities |
0 |
0,00 |
0 |
0,00 |
|
Financial Loans |
4.054.735 |
0,17 |
10.303.840 |
0,26 |
|
Accounts Payable |
7.191.868 |
0,30 |
11.631.142 |
0,30 |
|
Loans from Shareholders |
0 |
0,00 |
0 |
0,00 |
|
Other Short-term Payable |
86.876 |
0,00 |
160.098 |
0,00 |
|
Advances from Customers |
3.726.564 |
0,15 |
7.427.237 |
0,19 |
|
Accumulated Construction Income |
0 |
0,00 |
0 |
0,00 |
|
Taxes Payable |
45.926 |
0,00 |
90.677 |
0,00 |
|
Provisions |
0 |
0,00 |
16.807 |
0,00 |
|
Other Current Liabilities |
0 |
0,00 |
0 |
0,00 |
|
LONG-TERM LIABILITIES |
1.408.740 |
0,06 |
1.039.004 |
0,03 |
|
Not Detailed Long-term Liabilities |
0 |
0,00 |
0 |
0,00 |
|
Financial Loans |
1.408.740 |
0,06 |
1.039.004 |
0,03 |
|
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 |
7.817.725 |
0,32 |
8.351.181 |
0,21 |
|
Not Detailed Stockholders' Equity |
0 |
0,00 |
0 |
0,00 |
|
Paid-in Capital |
3.500.000 |
0,14 |
3.500.000 |
0,09 |
|
Cross Shareholding Adjustment of Capital |
0 |
0,00 |
0 |
0,00 |
|
Inflation Adjustment of Capital |
734.133 |
0,03 |
734.133 |
0,02 |
|
Equity of Consolidated Firms |
0 |
0,00 |
0 |
0,00 |
|
Reserves |
3.437.568 |
0,14 |
3.583.592 |
0,09 |
|
Revaluation Fund |
0 |
0,00 |
0 |
0,00 |
|
Accumulated Losses(-) |
0 |
0,00 |
0 |
0,00 |
|
Net Profit (loss) |
146.024 |
0,01 |
533.456 |
0,01 |
|
TOTAL LIABILITIES AND EQUITY |
24.332.434 |
1,00 |
39.019.986 |
1,00 |
|
REMARKS ON FINANCIAL STATEMENT |
: |
At the income statement of 1.1.-30.09.2011, TL 2.399.490 of the other expenses is due
to "Other Extraordinary Expenses and Losses" . |
INCOME STATEMENTS
|
|
(2009) TL |
|
(2010) TL |
|
(01.01-30.09.2011)
TL |
|
|
Net Sales |
28.571.662 |
1,00 |
46.263.575 |
1,00 |
61.610.124 |
1,00 |
|
Cost of Goods Sold |
27.375.897 |
0,96 |
42.934.675 |
0,93 |
58.678.332 |
0,95 |
|
Gross Profit |
1.195.765 |
0,04 |
3.328.900 |
0,07 |
2.931.792 |
0,05 |
|
Operating Expenses |
1.096.644 |
0,04 |
1.246.551 |
0,03 |
1.064.325 |
0,02 |
|
Operating Profit |
99.121 |
0,00 |
2.082.349 |
0,05 |
1.867.467 |
0,03 |
|
Other Income |
1.663.335 |
0,06 |
449.298 |
0,01 |
387.109 |
0,01 |
|
Other Expenses |
329.874 |
0,01 |
551.755 |
0,01 |
2.428.900 |
0,04 |
|
Financial Expenses |
1.241.164 |
0,04 |
1.308.232 |
0,03 |
1.366.393 |
0,02 |
|
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 |
191.418 |
0,01 |
671.660 |
0,01 |
-1.540.717 |
-0,03 |
|
Tax Payable |
45.394 |
0,00 |
138.204 |
0,00 |
0 |
0,00 |
|
Postponed Tax Gain |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Net Profit (loss) |
146.024 |
0,01 |
533.456 |
0,01 |
-1.540.717 |
-0,03 |
FINANCIAL RATIOS
|
|
(2009) |
(2010) |
|
|
LIQUIDITY RATIOS |
|
|
|
|
Current Ratio |
1,48 |
1,26 |
|
|
Acid-Test Ratio |
0,98 |
0,90 |
|
|
Cash Ratio |
0,06 |
0,00 |
|
|
ASSET STRUCTURE RATIOS |
|
|
|
|
Inventory/Total Assets |
0,19 |
0,16 |
|
|
Short-term Receivable/Total Assets |
0,57 |
0,68 |
|
|
Tangible Assets/Total Assets |
0,04 |
0,03 |
|
|
TURNOVER RATIOS |
|
|
|
|
Inventory Turnover |
6,04 |
7,04 |
|
|
Stockholders' Equity Turnover |
3,65 |
5,54 |
|
|
Asset Turnover |
1,17 |
1,19 |
|
|
FINANCIAL STRUCTURE |
|
|
|
|
Stockholders' Equity/Total Assets |
0,32 |
0,21 |
|
|
Current Liabilities/Total Assets |
0,62 |
0,76 |
|
|
Financial Leverage |
0,68 |
0,79 |
|
|
Gearing Percentage |
2,11 |
3,67 |
|
|
PROFITABILITY RATIOS |
|
|
|
|
Net Profit/Stockholders' Eq. |
0,02 |
0,06 |
|
|
Operating Profit Margin |
0,00 |
0,05 |
|
|
Net Profit Margin |
0,01 |
0,01 |
|
|
Interest Cover |
1,15 |
1,51 |
|
|
COLLECTION-PAYMENT |
|
|
|
|
Average Collection Period (days) |
174,91 |
188,56 |
|
|
Average Payable Period (days) |
94,57 |
97,53 |
|
|
WORKING CAPITAL |
7188252,00 |
7652502,00 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.