MIRA INFORM REPORT

 

 

Report Date :           

10.03.2012

 

IDENTIFICATION DETAILS

 

Name :

OZDAS YAPI SANAYI VE TICARET A.S.

 

 

Registered Office :

Bahce Mahallesi H. Okan Merzeci Akdeniz Mersin

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

12691

 

 

Com. Reg. No.:

02.03.1993

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

The firm deals with excavation and also with processing of marble, granite, furniture and trade of sanitary products.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

238.000 USD

 

 

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

 

 

NOTES

:

Address is different from the address at your inquiry.

 

 

COMPANY IDENTIFICATION

 

NAME

:

OZDAS YAPI SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Bahce Mahallesi H. Okan Merzeci Akdeniz Mersin / Turkey

PHONE NUMBER

:

90-324-321 66 32 (Factory)

90-324-322 11 75

 

FAX NUMBER

:

90-324-322 28 31

 

WEB-ADDRESS

:

www.ozdas.com.tr

E-MAIL

:

info@ozdas.com.tr 

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Istiklal

TAX NO

:

6740041818

REGISTRATION NUMBER

:

12691

REGISTERED OFFICE

:

Mersin Chamber of Commerce and Industry

DATE ESTABLISHED

:

02.03.1993

ESTABLISHMENT GAZETTE DATE/NO

:

12.03.1993/3240

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   5.000.000

PAID-IN CAPITAL

:

TL   3.000.000

HISTORY

:

Previous Registered Capital

:

TL 1.000.000

Changed On

:

08.02.2006 (Commercial Gazette Date /Number 15.02.2006/ 6493)

Previous Address

:

Saglik Mahallesi Kuvayimilliye Caddesi No:196/15-Mersin

Changed On

:

24.05.2005 (Commercial Gazette Date /Number 02.06.2005/ 6316)

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Yunus Ozdas

24,50 %

Yakup Ozdas

24,50 %

Oktay Ozdas

24,50 %

Haydar Ozdas

24,50 %

Sukriye Ozdas

2 %

 

 

SISTER COMPANIES

:

GRAMO GRANIT MERMER INSAAT MOBILYA TURIZM ITHALAT IHRACAT SANAYI VE TICARET LTD. STI.

 

GROMOSER GRANIT PORSELEN SERAMIK MERMER INSAAT MALZEMELERI SANAYI VE DIS TICARET LTD. STI.

 

SUBSIDIARIES

:

None

 

BOARD OF DIRECTORS

:

Oktay Ozdas

Chairman

Haydar Ozdas

Vice-Chairman

Yunus Ozdas

Member

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

The firm deals with excavation and also with processing of marble, granite,furniture and trade of sanitary products. 

 

NET SALES

:

2.508.677 TL

(2009) 

1.148.135 TL

(2010) 

1.430.677 TL

(2011) 

 

 

PRODUCTION

:

None

 

IMPORT COUNTRIES

:

Spain

China

Brazil

India

 

MERCHANDISE IMPORTED

:

Granite

 

EXPORT VALUE

:

247.568 TL

(2009)

12.742 TL

(2010)

0 TL

(2011)

 

 

EXPORT COUNTRIES

:

Northern Cyprus Turkish Republic

 

MERCHANDISE  EXPORTED

:

Building stone

 

HEAD OFFICE ADDRESS

:

Bahce Mahallesi H. Okan Merzeci Akdeniz Mersin / Turkey

 

BRANCHES

:

Processing Plant  :  Akbelen Caddesi 80052 Sokak No:3 Mersin/Turkey

 

Branch Office  :  Nilufer Bursa/Turkey

 

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2011.

SIZE OF BUSINESS

:

Upper-Medium

 

 

FINANCE

 

MAIN DEALING BANKS

:

Garanti Bankasi Mersin Branch

Garanti Bankasi Merkez Branch

Kuveyt Turk Katilim Bankasi Mersin Branch

Kuveyt Turk Katilim Bankasi Merkez Branch

 

CREDIT FACILITIES

:

The subject company is making active use of credit facilities.

 

PAYMENT BEHAVIOUR

:

We are informed about a single payment delay in the former years which was resolved later on but no payment delays have come to our knowledge in the last years.

 

 

KEY FINANCIAL ELEMENTS

:

 

(2010) TL

(2011) TL

 

 

 

Net Sales

1.148.135

1.430.677

 

 

 

Profit (Loss) Before Tax

-65.729

60.068

 

 

 

Stockholders' Equity

3.394.909

 

 

 

 

Total Assets

8.039.337

 

 

 

 

Current Assets

3.800.004

 

 

 

 

Non-Current Assets

4.239.333

 

 

 

 

Current Liabilities

4.644.428

 

 

 

 

Long-Term Liabilities

0

 

 

 

 

Gross Profit (loss)

91.348

213.293

 

 

 

Operating Profit (loss)

-121.297

-31.910

 

 

 

Net Profit (loss)

-65.729

60.068

 

 

 

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Satisfactory As of 31.12.2010

Remarks on Capitalization

A part of liabilities consist of loans from shareholders.

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.

Profitability

Operating Loss  in 2010

Net Loss  in 2010

Operating Loss  in 2011

In Order Net Profitability  in 2011

 

Gap between average collection and payable periods

Unfavorable in 2010

General Financial Position

Passable

 

 

CREDIT OPINION WITHOUT OBLIGATION

 

CREDIT OPINION WITHOUT OBLIGATION

 

:

We are of the opinion that, a max. credit of 238.000 USD may be granted to the subject company.

 

 

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

 ( 01.01-29.02.2012)

0,29 %

1,8055

2,3806

2,8364

 

 

BALANCE SHEETS

 

 

 ( 31.12.2010 )  TL

 

CURRENT ASSETS

3.800.004

0,47

Not Detailed Current Assets

0

0,00

Cash and Banks

1.709.447

0,21

Marketable Securities

0

0,00

Account Receivable

532.054

0,07

Other Receivable

0

0,00

Inventories

1.542.661

0,19

Advances Given

0

0,00

Accumulated Construction Expense

0

0,00

Other Current Assets

15.842

0,00

NON-CURRENT ASSETS

4.239.333

0,53

Not Detailed Non-Current Assets

0

0,00

Long-term Receivable

0

0,00

Financial Assets

0

0,00

Tangible Fixed Assets (net)

4.237.989

0,53

Intangible Assets

0

0,00

Deferred Tax Assets

0

0,00

Other Non-Current Assets

1.344

0,00

TOTAL ASSETS

8.039.337

1,00

CURRENT LIABILITIES

4.644.428

0,58

Not Detailed Current Liabilities

0

0,00

Financial Loans

4.254.380

0,53

Accounts Payable

23.103

0,00

Loans from Shareholders

343.532

0,04

Other Short-term Payable

0

0,00

Advances from Customers

0

0,00

Accumulated Construction Income

0

0,00

Taxes Payable

6.011

0,00

Provisions

17.402

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

3.394.909

0,42

Not Detailed Stockholders' Equity

0

0,00

Paid-in Capital

3.000.000

0,37

Cross Shareholding Adjustment of Capital

0

0,00

Inflation Adjustment of Capital

167.757

0,02

Equity of Consolidated Firms

0

0,00

Reserves

466.030

0,06

Revaluation Fund

0

0,00

Accumulated Losses(-)

-173.149

-0,02

Net Profit (loss)

-65.729

-0,01

TOTAL LIABILITIES AND EQUITY

8.039.337

1,00

 

 

REMARKS ON FINANCIAL STATEMENT

:

At the last income statement, TL 70.705 of the other income is due to "Other Ordinary Income" .                                                                                             

 

 

INCOME STATEMENTS

 

 

(2010) TL

 

(2011) TL

 

Net Sales

1.148.135

1,00

1.430.677

1,00

Cost of Goods Sold

1.056.787

0,92

1.217.384

0,85

Gross Profit

91.348

0,08

213.293

0,15

Operating Expenses

212.645

0,19

245.203

0,17

Operating Profit

-121.297

-0,11

-31.910

-0,02

Other Income

174.896

0,15

107.461

0,08

Other Expenses

119.328

0,10

15.483

0,01

Financial Expenses

0

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

-65.729

-0,06

60.068

0,04

Tax Payable

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

-65.729

-0,06

60.068

0,04

 

 

FINANCIAL RATIOS

 

 

(2010)

LIQUIDITY RATIOS

 

Current Ratio

0,82

Acid-Test Ratio

0,48

Cash Ratio

0,37

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,19

Short-term Receivable/Total Assets

0,07

Tangible Assets/Total Assets

0,53

TURNOVER RATIOS

 

Inventory Turnover

0,69

Stockholders' Equity Turnover

0,34

Asset Turnover

0,14

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,42

Current Liabilities/Total Assets

0,58

Financial Leverage

0,58

Gearing Percentage

1,37

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

-0,02

Operating Profit Margin

-0,11

Net Profit Margin

-0,06

Interest Cover

 

COLLECTION-PAYMENT

 

Average Collection Period (days)

166,83

Average Payable Period (days)

7,87

WORKING CAPITAL

-844424,00

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.02

UK Pound

1

Rs.79.00

Euro

1

Rs.66.18

 

 

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.