MIRA INFORM REPORT
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Report Date : |
13.03.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
ARDA EV TEKSTILI TICARET VE SANAYI LTD. STI. |
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Registered Office : |
Asirefendi Mah. No:39 Sultanhamam Istanbul |
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Country : |
Turkey |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.01.1997 |
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Com. Reg. No.: |
362319 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale trade of home textile products such as curtain |
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No. of Employees
: |
16 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
480.000 USD |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Turkey |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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NOTES |
: |
Full name of the firm was missing at your inquiry. |
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NAME |
: |
ARDA EV TEKSTILI TICARET VE SANAYI LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Asirefendi Mah. No:39 Sultanhamam Istanbul / Turkey |
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PHONE NUMBER |
: |
90-212-520 74 04 |
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FAX NUMBER |
: |
90-212-512 24 91 |
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TAX OFFICE |
: |
Hocapasa |
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TAX NO |
: |
0730055006 |
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REGISTRATION NUMBER |
: |
362319 |
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REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
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DATE ESTABLISHED |
: |
23.01.1997 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
28.01.1997/4218 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 900.000 |
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PAID-IN CAPITAL |
: |
TL 900.000 |
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HISTORY |
: |
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SHAREHOLDERS |
: |
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SUBSIDIARIES |
: |
None |
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DIRECTORS |
: |
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BUSINESS ACTIVITIES |
: |
Wholesale trade of home textile products such as curtain. |
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NACE CODE |
: |
G .51.41 |
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SECTOR |
: |
Commerce |
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NUMBER OF EMPLOYEES |
: |
16 |
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NET SALES |
: |
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CAPACITY |
: |
None |
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PRODUCTION |
: |
None |
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IMPORT COUNTRIES |
: |
India |
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MERCHANDISE IMPORTED |
: |
Home textile products |
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EXPORT VALUE |
: |
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EXPORT COUNTRIES |
: |
Middle East Countries Russia |
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MERCHANDISE EXPORTED |
: |
Curtain Home textile products |
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HEAD OFFICE ADDRESS |
: |
Asirefendi Mah. No:39 Sultanhamam Istanbul / Turkey |
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INVESTMENTS |
: |
None |
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TREND OF BUSINESS |
: |
There was an upwards trend in
2011. |
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SIZE OF BUSINESS |
: |
Upper-Moderate |
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MAIN DEALING BANKS |
: |
T. Is Bankasi Sultanhamam Branch |
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CREDIT FACILITIES |
: |
No credit facility has come to our knowledge. |
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PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
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KEY FINANCIAL ELEMENTS |
: |
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Capitalization |
Good As of 31.12.2010 |
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Liquidity |
Satisfactory As of 31.12.2010 |
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Remarks On Liquidity |
The favorable gap between average collection and average payable
period has a positive effect on liquidity. |
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Profitability |
Good Operating Profitability in
2010 High Net Profitability in 2010 Good Operating Profitability in
2011 Good Net Profitability in 2011 |
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Gap between average collection and payable periods |
Favorable in 2010 |
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General Financial Position |
In Order |
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CREDIT OPINION WITHOUT OBLIGATION |
: |
We are of the opinion that, a max. credit of 480.000 USD may be
granted to the subject company. |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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( 2009 ) |
5,93 % |
1,5460 |
2,1529 |
2,4094 |
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( 2010 ) |
8,87 % |
1,5128 |
2,0096 |
2,3410 |
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( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
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( 01.01-29.02.2012) |
0,29 % |
1,8055 |
2,3806 |
2,8364 |
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( 31.12.2010 ) TL |
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CURRENT ASSETS |
2.634.001 |
0,97 |
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Not Detailed Current Assets |
0 |
0,00 |
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Cash and Banks |
335.380 |
0,12 |
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Marketable Securities |
0 |
0,00 |
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Account Receivable |
438.081 |
0,16 |
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Other Receivable |
0 |
0,00 |
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Inventories |
1.849.616 |
0,68 |
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Advances Given |
0 |
0,00 |
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Accumulated Construction Expense |
0 |
0,00 |
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Other Current Assets |
10.924 |
0,00 |
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NON-CURRENT ASSETS |
70.937 |
0,03 |
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Not Detailed Non-Current Assets |
0 |
0,00 |
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Long-term Receivable |
0 |
0,00 |
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Financial Assets |
0 |
0,00 |
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Tangible Fixed Assets (net) |
55.457 |
0,02 |
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Intangible Assets |
14.908 |
0,01 |
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Deferred Tax Assets |
0 |
0,00 |
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Other Non-Current Assets |
572 |
0,00 |
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TOTAL ASSETS |
2.704.938 |
1,00 |
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CURRENT LIABILITIES |
1.104.192 |
0,41 |
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Not Detailed Current Liabilities |
0 |
0,00 |
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Financial Loans |
0 |
0,00 |
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Accounts Payable |
1.077.343 |
0,40 |
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Loans from Shareholders |
0 |
0,00 |
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Other Short-term Payable |
2.300 |
0,00 |
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Advances from Customers |
0 |
0,00 |
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Accumulated Construction Income |
0 |
0,00 |
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Taxes Payable |
24.549 |
0,01 |
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Provisions |
0 |
0,00 |
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Other Current Liabilities |
0 |
0,00 |
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LONG-TERM LIABILITIES |
0 |
0,00 |
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Not Detailed Long-term Liabilities |
0 |
0,00 |
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Financial Loans |
0 |
0,00 |
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Securities Issued |
0 |
0,00 |
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Long-term Payable |
0 |
0,00 |
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Loans from Shareholders |
0 |
0,00 |
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Other Long-term Liabilities |
0 |
0,00 |
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Provisions |
0 |
0,00 |
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STOCKHOLDERS' EQUITY |
1.600.746 |
0,59 |
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Not Detailed Stockholders' Equity |
0 |
0,00 |
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Paid-in Capital |
900.000 |
0,33 |
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Cross Shareholding Adjustment of Capital |
0 |
0,00 |
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Inflation Adjustment of Capital |
0 |
0,00 |
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Equity of Consolidated Firms |
0 |
0,00 |
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Reserves |
409.082 |
0,15 |
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Revaluation Fund |
0 |
0,00 |
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Accumulated Losses(-) |
0 |
0,00 |
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Net Profit (loss) |
291.664 |
0,11 |
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TOTAL LIABILITIES AND EQUITY |
2.704.938 |
1,00 |
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(2010) TL |
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(2011) TL |
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Net Sales |
4.551.595 |
1,00 |
5.728.379 |
1,00 |
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Cost of Goods Sold |
3.680.507 |
0,81 |
4.753.739 |
0,83 |
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Gross Profit |
871.088 |
0,19 |
974.640 |
0,17 |
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Operating Expenses |
535.167 |
0,12 |
544.541 |
0,10 |
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Operating Profit |
335.921 |
0,07 |
430.099 |
0,08 |
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Other Income |
34.708 |
0,01 |
21.677 |
0,00 |
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Other Expenses |
0 |
0,00 |
122.035 |
0,02 |
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Financial Expenses |
2.258 |
0,00 |
3.257 |
0,00 |
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Minority Interests |
0 |
0,00 |
0 |
0,00 |
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Profit (loss) of consolidated firms |
0 |
0,00 |
0 |
0,00 |
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Profit (loss) Before Tax |
368.371 |
0,08 |
326.484 |
0,06 |
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Tax Payable |
76.707 |
0,02 |
0 |
0,00 |
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Postponed Tax Gain |
0 |
0,00 |
0 |
0,00 |
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Net Profit (loss) |
291.664 |
0,06 |
326.484 |
0,06 |
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(2010) |
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LIQUIDITY RATIOS |
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Current Ratio |
2,39 |
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Acid-Test Ratio |
0,70 |
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Cash Ratio |
0,30 |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,68 |
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Short-term Receivable/Total Assets |
0,16 |
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Tangible Assets/Total Assets |
0,02 |
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TURNOVER RATIOS |
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Inventory Turnover |
1,99 |
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Stockholders' Equity Turnover |
2,84 |
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Asset Turnover |
1,68 |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,59 |
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Current Liabilities/Total Assets |
0,41 |
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Financial Leverage |
0,41 |
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Gearing Percentage |
0,69 |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,18 |
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Operating Profit Margin |
0,07 |
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Net Profit Margin |
0,06 |
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Interest Cover |
164,14 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
34,65 |
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Average Payable Period (days) |
105,38 |
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WORKING CAPITAL |
1529809,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.94 |
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UK Pound |
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.39 |
RATING EXPLANATIONS
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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 |
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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 |
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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.