MIRA INFORM REPORT

 

 

Report Date :

13.07.2012

 

IDENTIFICATION DETAILS

 

Name :

ALP METAL TICARET-ERTUGRUL ALPAGUT

 

 

Registered Office :

Ankara Asfalti Uzeri Kemikli Dere Mevkii Erdil Sok. No:41 Guzelyali Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

10.03.1976

 

 

Com. Reg. No.:

137866

 

 

Legal Form :

Sole-Proprietorship

 

 

Line of Business :

Wholesale trade of metal products such as profiles, sheets etc.

 

 

No. of Employees :

6

 

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

COMPANY IDENTIFICATION

 

NAME

:

ALP METAL TICARET-ERTUGRUL ALPAGUT

HEAD OFFICE ADDRESS

:

Ankara Asfalti Uzeri Kemikli Dere Mevkii Erdil Sok. No:41 Guzelyali Istanbul / Turkey

PHONE NUMBER

:

90-216-392 75 06

 

FAX NUMBER

:

90-216-392 75 09

 

WEB-ADDRESS

:

www.alpmetal.com.tr

 

 

LEGAL STATUS AND HISTORY

 

NOTES ON LEGAL STATUS AND HISTORY

:

Liability of the subject is not limited to the capital.

 

 

TAX OFFICE

:

Tuzla

TAX NO

:

18973940988

REGISTRATION NUMBER

:

137866

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

10.03.1976

LEGAL FORM

:

Sole-Proprietorship

TYPE OF COMPANY

:

Private

 

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Ertugrul Alpagut

100 %

 

 

REMARKS ON SHAREHOLDERS

:

Ertugrul Alpagut was born in 1944. He was graduated from university.

PROPERTIES OWNED BY THE OWNER/PARTNERS

:

 

Property Type

Head office of the subject

2 warehouses of the subject

10 stores

5 flats

Lands

 

SISTER COMPANIES

:

ALP METAL PASLANMAZ CELIK TICARET VE SANAYI A.S.

 

DIRECTORS

:

Ertugrul Alpagut

 

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

Wholesale trade of metal products such as profiles, sheets etc.

 

NACE CODE

:

G .51.54

 

SECTOR

:

Commerce

 

NUMBER OF EMPLOYEES

:

6

 

NET SALES

:

2.013.147 TL

(2009) 

3.072.474 TL

(2010) 

3.932.873 TL

(2011) 

1.087.481 TL

(01.01-31.03.2012) 

 

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

IMPORT COUNTRIES

:

China

Taiwan

India

Italy

Belgium

Finland

Germany

 

MERCHANDISE IMPORTED

:

Metal

 

EXPORT VALUE

:

0 TL

(2009)

0 TL

(2010)

0 TL

(2011)

0 TL

(01.01-31.03.2012)

 

 

HEAD OFFICE ADDRESS

:

Ankara Asfalti Uzeri Kemikli Dere Mevkii Erdil Sok. No:41 Guzelyali Istanbul / Turkey (owned)

 

BRANCHES

:

Warehouse  :  Pendik Istanbul/Turkey

Warehouse  :  Guzelyali Istanbul/Turkey

INVESTMENTS

:

None

 

TREND OF BUSINESS

:

There was an upwards trend in  2011.

SIZE OF BUSINESS

:

Upper-Moderate

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Tuzla Branch

Garanti Bankasi E-5 Pendik Branch

T. Is Bankasi Tuzla Branch

 

CREDIT FACILITIES

:

No credit facility has come to our knowledge.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

KEY FINANCIAL ELEMENTS

:

 

(2010) TL

(2011) TL

(01.01-31.03.2012) TL

Net Sales

3.072.474

3.932.873

1.087.481

Profit (Loss) Before Tax

93.019

542.588

74.018

Stockholders' Equity

300.951

750.520

 

Total Assets

2.952.299

2.847.508

 

Current Assets

2.819.405

2.731.498

 

Non-Current Assets

132.894

116.010

 

Current Liabilities

2.651.348

2.096.988

 

Long-Term Liabilities

0

0

 

Gross Profit (loss)

213.555

654.076

107.239

Operating Profit (loss)

97.186

541.266

74.033

Net Profit (loss)

93.019

542.588

74.018

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Good As of 31.12.2011

Remarks on Capitalization

The liability of the sole-proprietorships is not limited to the capital. The owners of the sole-proprietorships are responsible for the debts of the sole-proprietorships with all of their personal wealth. 

 

The owner possesses property.

 

Liquidity

High As of 31.12.2011

Remarks On Liquidity

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

 

Profitability

Fair Operating Profitability  in 2010

Fair Net Profitability  in 2010

High Operating Profitability  in 2011

High Net Profitability  in 2011

Good Operating Profitability (01.01-31.03.2012)

Good Net Profitability (01.01-31.03.2012)

 

Gap between average collection and payable periods

Unfavorable in 2011

General Financial Position

Good

 

 

 

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

 ( 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

 

 

 ( 31.12.2010 )  TL

 

 ( 31.12.2011 )  TL

 

CURRENT ASSETS

2.819.405

0,95

2.731.498

0,96

Not Detailed Current Assets

0

0,00

0

0,00

Cash and Banks

47.393

0,02

92.126

0,03

Marketable Securities

155.648

0,05

122.996

0,04

Account Receivable

361.862

0,12

171.693

0,06

Other Receivable

1.901.200

0,64

0

0,00

Inventories

31.875

0,01

1.845.080

0,65

Advances Given

0

0,00

254.613

0,09

Accumulated Construction Expense

0

0,00

0

0,00

Other Current Assets

321.427

0,11

244.990

0,09

NON-CURRENT ASSETS

132.894

0,05

116.010

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)

132.894

0,05

116.010

0,04

Intangible Assets

0

0,00

0

0,00

Deferred Tax Assets

0

0,00

0

0,00

Other Non-Current Assets

0

0,00

0

0,00

TOTAL ASSETS

2.952.299

1,00

2.847.508

1,00

CURRENT LIABILITIES

2.651.348

0,90

2.096.988

0,74

Not Detailed Current Liabilities

0

0,00

0

0,00

Financial Loans

0

0,00

0

0,00

Accounts Payable

8.489

0,00

16.493

0,01

Loans from Shareholders

2.633.856

0,89

2.061.551

0,72

Other Short-term Payable

0

0,00

0

0,00

Advances from Customers

88

0,00

8.870

0,00

Accumulated Construction Income

0

0,00

0

0,00

Taxes Payable

8.756

0,00

9.918

0,00

Provisions

0

0,00

0

0,00

Other Current Liabilities

159

0,00

156

0,00

LONG-TERM LIABILITIES

0

0,00

0

0,00

Not Detailed Long-term Liabilities

0

0,00

0

0,00

Financial Loans

0

0,00

0

0,00

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

300.951

0,10

750.520

0,26

Not Detailed Stockholders' Equity

300.951

0,10

750.520

0,26

Paid-in Capital

0

0,00

0

0,00

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

0

0,00

0

0,00

Revaluation Fund

0

0,00

0

0,00

Accumulated Losses(-)

0

0,00

0

0,00

Net Profit (loss)

0

0,00

0

0,00

TOTAL LIABILITIES AND EQUITY

2.952.299

1,00

2.847.508

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 will be given under "Account Receivable" figure and "Account Payable" figure respectively.

 

 

INCOME STATEMENTS

 

 

(2010) TL

 

(2011) TL

 

(01.01-31.03.2012) TL

 

Net Sales

3.072.474

1,00

3.932.873

1,00

1.087.481

1,00

Cost of Goods Sold

2.858.919

0,93

3.278.797

0,83

980.242

0,90

Gross Profit

213.555

0,07

654.076

0,17

107.239

0,10

Operating Expenses

116.369

0,04

112.810

0,03

33.206

0,03

Operating Profit

97.186

0,03

541.266

0,14

74.033

0,07

Other Income

838

0,00

1.625

0,00

0

0,00

Other Expenses

4.682

0,00

95

0,00

15

0,00

Financial Expenses

323

0,00

208

0,00

0

0,00

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

93.019

0,03

542.588

0,14

74.018

0,07

Tax Payable

0

0,00

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

Net Profit (loss)

93.019

0,03

542.588

0,14

74.018

0,07

 

FINANCIAL RATIOS

 

 

(2010)

(2011)

LIQUIDITY RATIOS

 

 

Current Ratio

1,06

1,30

Acid-Test Ratio

0,93

0,18

Cash Ratio

0,08

0,10

ASSET STRUCTURE RATIOS

 

 

Inventory/Total Assets

0,01

0,65

Short-term Receivable/Total Assets

0,77

0,06

Tangible Assets/Total Assets

0,05

0,04

TURNOVER RATIOS

 

 

Inventory Turnover

89,69

1,78

Stockholders' Equity Turnover

10,21

5,24

Asset Turnover

1,04

1,38

FINANCIAL STRUCTURE

 

 

Stockholders' Equity/Total Assets

0,10

0,26

Current Liabilities/Total Assets

0,90

0,74

Financial Leverage

0,90

0,74

Gearing Percentage

8,81

2,79

PROFITABILITY RATIOS

 

 

Net Profit/Stockholders' Eq.

0,31

0,72

Operating Profit Margin

0,03

0,14

Net Profit Margin

0,03

0,14

Interest Cover

288,98

2609,60

COLLECTION-PAYMENT

 

 

Average Collection Period (days)

42,40

15,72

Average Payable Period (days)

1,07

1,81

WORKING CAPITAL

168057,00

634510,00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.86.28

Euro

1

Rs.68.15

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.