MIRA INFORM REPORT

 

 

Report Date :

06.11.2012

 

IDENTIFICATION DETAILS

 

Name :

FIRAT PLASTIK KAUCUK SANAYII VE TICARET A.S.

 

 

 

 

Formerly Known As :

FIRAT PLASTIK KAUCUK SANAYI VE TICARET LTD. STI.

 

 

Registered Office :

 

Turkoba Koyu P.K. 12 Buyukcekmece Istanbul

 

 

 

 

Country :

Turkey

 

 

 

 

Financials (as on) :

30.06.2011

 

 

 

 

Date of Incorporation :

28.07.1976

 

 

 

 

Com. Reg. No.:

423-4

 

 

 

 

Legal Form :

Joint Stock Company

 

 

 

 

Line of Business :

Manufacture and trade of PVC window frames, hose-pipes, PVC pipes, window profile, plate profile , Epdn rubber gasket and plastic medical materials. 

 

 

 

 

No. of Employees :

1.500

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Turkey

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

TURKEY - ECONOMIC OVERVIEW

 

Turkey's largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment. An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkey's export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market. Several gas pipelines projects also are moving forward to help transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkey's dependence on imported oil and gas to meet 97% of its energy needs. After Turkey experienced a severe financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the country's economic fundamentals and ushered in an era of strong growth - averaging more than 6% annually until 2008. Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkey's well-regulated financial markets and banking system helped the country weather the global financial crisis and GDP rebounded strongly to 8.2% in 2010, as exports returned to normal levels following the recession. Turkey's public sector debt to GDP ratio has fallen to roughly 40%. Continued strong growth has pushed inflation to the 8% level, however, and worsened an already high current account deficit. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit. The stock value of FDI stood at $99 billion at year-end 2011. Inflows have slowed considerably in light of continuing economic turmoil in Europe, the source of much of Turkey's FDI. Further economic and judicial reforms and prospective EU membership are expected to boost Turkey's attractiveness to foreign investors. However, Turkey's relatively high current account deficit, uncertainty related to monetary policy-making, and political turmoil within Turkey's neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence.

Source : CIA

COMPANY IDENTIFICATION

 

 

NAME

:

FIRAT PLASTIK KAUCUK SANAYII VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Turkoba Koyu P.K. 12 Buyukcekmece Istanbul / Turkey

PHONE NUMBER

:

90-212-859 04 04

90-212-859 05 05

90-212-866 41 41

 

FAX NUMBER

:

90-212-859 04 00

90-212-859 05 00

 

WEB-ADDRESS

:

www.firat.com

E-MAIL

:

info@firat.com

 

 

LEGAL STATUS AND HISTORY

 

 

TAX OFFICE

:

Buyuk Mukellefler

TAX NO

:

3860041825

REGISTRATION NUMBER

:

423-4

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

28.07.1976

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   160.000.000

PAID-IN CAPITAL

:

TL   160.000.000

HISTORY

:

Previous Legal Type

:

Limited Company

Changed On

:

30.05.1996 (Commercial Gazette Date /Number 07.06.1996/ 4054)

 

Previous Name

:

Firat Plastik Kaucuk Sanayi ve Ticaret Ltd. Sti.

Changed On

:

30.05.1996 (Commercial Gazette Date /Number 07.06.1996/ 4054)

 

Previous Registered Capital

:

TL 80.034.450

Changed On

:

28.06.2006 (Commercial Gazette Date /Number 04.07.2006/ 6591)

 

Merger

:

The subject took over and merged with “Firatkrah Alt Yapi Boru Sistemleri Sanayi ve Ticaret A.S."

Changed On

:

16.09.2005 (Commercial Gazette Date /Number 03.10.2005/ 6402)

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Nevzat Demir

30 %

Hava Demir

15 %

Hayriye Demir

15 %

Tayfun Demir

10 %

Ahmet Tarik Demir

10 %

Mumtaz Demir

10 %

Muharrem Yildirim Demir

10 %

 

 

SISTER COMPANIES

:

BINBIRGIDA TARIM URUNLERI SANAYI VE TICARET A.S.

 

FIRAT ENERJI URETIM A.S.

 

FIRAT HAVACILIK TICARET A.S.

 

ZIYA ORGANIK TARIM ISLETMELERI A.S.

 

ZIYAGIDA TARIM URUNLERI SANAYI VE TICARET A.S.

 

SUBSIDIARIES

:

BINBIRGIDA TARIM URUNLERI SANAYI VE TICARET A.S.  ( 98 % )

FIRAT ENERJI URETIM A.S.  ( 96 % )

ZIYA ORGANIK TARIM ISLETMELERI A.S.  ( 98,40 % )

ZIYAGIDA TARIM URUNLERI SANAYI VE TICARET A.S.  ( 96 % )

 

BOARD OF DIRECTORS

:

Nevzat Demir

Chairman

Mumtaz Demir

Vice-Chairman

Muharrem Yildirim Demir

Member

Tayfun Demir

Member

Hava Demir

Member

 

DIRECTORS

:

Nevzat Demir                                                                                                                                                                                                                                                                                   

General Manager

Guney Guner                                                                                                                                                                                                                                                                                   

Deputy General Manager

Tuncer Semiz                                                                                                                                                                                                                                                                                   

Deputy General Manager

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Manufacture and trade of PVC window frames, hose-pipes, PVC pipes, window profile, plate profile , Epdn rubber gasket and plastic medical materials. 

 

NACE CODE

:

DH.25.13

 

SECTOR

:

Plastic

 

TRADEMARKS OWNED

:

Firat Griboru

Firatmet

Firatpen

Firattherm

Gedizpen

Toros

Winhouse

 

NUMBER OF EMPLOYEES

:

1.500

 

NET SALES

:

3.305 TL Thousand

(1996) 

8.438 TL Thousand

(1997) 

14.174 TL Thousand

(1998) 

24.898 TL Thousand

(1999) 

45.481 TL Thousand

(2000) 

72.633 TL Thousand

(2001) 

156.689 TL Thousand

(2002) 

260.289 TL Thousand

(2003) 

426.522 TL Thousand

(2004) 

622.003 TL Thousand

(2005) 

835.179 TL Thousand

(2006) 

932.295.474 TL

(2007) 

997.737.380 TL

(2008) 

739.296.379 TL

(2009) 

857.702.984 TL

(2010) 

529.850.613 TL

(01.01-30.06.2011) 

 

 

 

IMPORT VALUE

:

53.337.358 USD

(2000)

48.000.000 USD

(2001)

54.229.000 USD

(2002)

111.009.000 USD

(2003)

185.579.000 USD

(2004)

209.300.000 USD

(2005)

279.800.000 USD

(2006)

336.470.000 USD

(2007)

267.000.000 USD

(2008)

162.067.775 USD

(2009)

 

 

IMPORT COUNTRIES

:

U.S.A.

Japan

Germany

Greece

China

Austria

 

MERCHANDISE IMPORTED

:

PE

PP

PVC

Stabilizer machine

 

EXPORT VALUE

:

113.372 TL

(1996)

4.734.406 USD

(1997)

3.903.924 USD

(1998)

3.901.387 USD

(1999)

4.477.419 USD

(2000)

7.118.934 TL

(2001)

14.976.786 TL

(2002)

33.434.690 TL

(2003)

54.168.082 TL

(2004)

79.693.035 TL

(2005)

120.282.314 TL

(2006)

161.103.395 TL

(2007)

253.881.402 TL

(2008)

156.973.241 TL

(2009)

189.137.063 TL

(2010)

120.405.436 TL

(01.01-30.06.2011)

 

 

 

EXPORT COUNTRIES

:

Afghanistan

U.A.E.

Kuwait

Qatar

Saudi Arabia

Albania

Austria

Azerbaijan

Belgium

Bulgaria

Germany

France

Georgia

U.K.

Greece

India

Iran

Iraq

Northern Cyprus Turkish Republic

Russia

Morocco

 

MERCHANDISE  EXPORTED

:

Cutlery basket

Hose-pipe

Profile

PVC pipes

Window frames

 

HEAD OFFICE ADDRESS

:

Turkoba Koyu P.K. 12 Buyukcekmece  Istanbul / Turkey ( owned )

 

BRANCHES

:

Factory  :  Sincan Organize Sanayi Bolgesi Sincan Ankara/Turkey (owned) (30.000 sqm)

 

Head Office/Factory  :  Turkoba Koyu P.K. 12 Buyukcekmece Istanbul/Turkey (owned) ( )        

 

TREND OF BUSINESS

:

There was an upwards trend in  2010. There appears an upwards trend in  1.1 - 30.6.2011.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Denizbank Avcilar Kurumsal Branch

Garanti Bankasi Bakirkoy Kurumsal Branch

HSBC Bank Beylikduzu Branch

T. Is Bankasi Avcilar 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

:

 

(2007) TL

(2008) TL

(2009) TL

(2010) TL

(01.01-30.06.2011) TL

Net Sales

932.295.474

997.737.380

739.296.379

857.702.984

529.850.613

Profit (Loss) Before Tax

163.653.096

95.655.773

172.025.278

149.012.603

-93.518.705

Stockholders' Equity

513.540.090

559.928.955

689.134.233

779.157.116

685.766.700

Total Assets

957.592.139

1.129.479.946

1.284.488.293

1.355.783.045

1.535.636.537

Current Assets

652.013.572

797.480.449

919.497.876

893.626.410

991.432.580

Non-Current Assets

305.578.567

331.999.497

364.990.417

462.156.635

544.203.957

Current Liabilities

193.772.983

241.762.261

358.498.591

382.179.636

516.817.866

Long-Term Liabilities

250.279.066

327.788.730

236.855.469

194.446.293

333.051.971

Gross Profit (loss)

225.360.208

258.211.182

260.690.077

180.596.343

109.771.116

Operating Profit (loss)

168.282.570

202.437.838

211.479.119

115.847.447

68.666.099

Net Profit (loss)

130.717.388

76.260.526

136.805.278

118.815.337

-93.518.705

 

 

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

In Order As of 30.06.2011

Liquidity

High As of 30.06.2011

Remarks On Liquidity

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

 

Profitability

High Operating Profitability  in 2007

High Net Profitability  in 2007

High Operating Profitability  in 2008

High Net Profitability  in 2008

High Operating Profitability  in 2009

High Net Profitability  in 2009

High Operating Profitability  in 2010

High Net Profitability  in 2010

High Operating Profitability (01.01-30.06.2011)

Net Loss (01.01-30.06.2011)

 

Gap between average collection and payable periods

Favorable in 01.01-30.06.2011

General Financial Position

Unsatisfactory

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 1998 )

54,30 %

0,2657

0,2967

0,4410

 ( 1999 )

62,90 %

0,4278

0,4518

0,6843

 ( 2000 )

32,70 %

0,6251

0,5774

0,9480

 ( 2001 )

88,60 %

1,1991

1,0714

1,7300

 ( 2002 )

30,80 %

1,5168

1,3741

2,2001

 ( 2003 )

13,90 %

1,5302

1,7141

2,4982

 ( 2004 )

13,84 %

1,4266

1,7666

2,6001

 ( 2005 )

2,66 %

1,3499

1,6882

2,4623

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 2007 )

5,94 %

1,3075

1,7901

2,6133

 ( 2008 )

8,11 %

1,2858

1,8876

2,3708

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-30.06.2011)

6,21 %

1,5771

2,2246

2,5422

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

( 01.01-30.09.2012)

3,34 %

1,8029

2,3233

2,8527

BALANCE SHEETS

 

 

 ( 31.12.2007 )  TL

 

 ( 31.12.2008 )  TL

 

 ( 31.12.2009 )  TL

 

CURRENT ASSETS

652.013.572

0,68

797.480.449

0,71

919.497.876

0,72

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

Cash and Banks

458.996.017

0,48

599.626.274

0,53

678.454.251

0,53

Marketable Securities

445.817

0,00

0

0,00

0

0,00

Account Receivable

108.332.337

0,11

144.934.206

0,13

139.920.282

0,11

Other Receivable

31.490

0,00

50.012

0,00

50.012

0,00

Inventories

61.872.200

0,06

29.048.916

0,03

37.365.385

0,03

Advances Given

16.475.927

0,02

11.306.387

0,01

23.049.534

0,02

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

Other Current Assets

5.859.784

0,01

12.514.654

0,01

40.658.412

0,03

NON-CURRENT ASSETS

305.578.567

0,32

331.999.497

0,29

364.990.417

0,28

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

Long-term Receivable

73.066

0,00

399.306

0,00

12.307.316

0,01

Financial Assets

52.289.454

0,05

77.425.956

0,07

110.398.453

0,09

Tangible Fixed Assets (net)

251.582.209

0,26

252.461.176

0,22

240.377.668

0,19

Intangible Assets

698.447

0,00

800.406

0,00

904.868

0,00

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

935.391

0,00

912.653

0,00

1.002.112

0,00

TOTAL ASSETS

957.592.139

1,00

1.129.479.946

1,00

1.284.488.293

1,00

CURRENT LIABILITIES

193.772.983

0,20

241.762.261

0,21

358.498.591

0,28

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

Financial Loans

62.857.444

0,07

107.421.680

0,10

184.922.585

0,14

Accounts Payable

54.188.629

0,06

65.967.135

0,06

74.136.859

0,06

Loans from Shareholders

0

0,00

0

0,00

0

0,00

Other Short-term Payable

0

0,00

0

0,00

1.209.711

0,00

Advances from Customers

49.693.667

0,05

45.208.651

0,04

34.510.992

0,03

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

Taxes Payable

1.732.925

0,00

2.057.464

0,00

3.597.142

0,00

Provisions

6.723.171

0,01

-1.687.145

0,00

35.219.967

0,03

Other Current Liabilities

18.577.147

0,02

22.794.476

0,02

24.901.335

0,02

LONG-TERM LIABILITIES

250.279.066

0,26

327.788.730

0,29

236.855.469

0,18

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

Financial Loans

197.575.165

0,21

273.317.282

0,24

209.893.152

0,16

Securities Issued

0

0,00

0

0,00

0

0,00

Long-term Payable

50.506.201

0,05

47.788.882

0,04

26.118.253

0,02

Loans from Shareholders

1.863.758

0,00

6.459.099

0,01

0

0,00

Other Long-term Liabilities

0

0,00

223.467

0,00

844.064

0,00

Provisions

333.942

0,00

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

513.540.090

0,54

559.928.955

0,50

689.134.233

0,54

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

Paid-in Capital

160.000.000

0,17

160.000.000

0,14

160.000.000

0,12

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

Inflation Adjustment of Capital

0

0,00

0

0,00

0

0,00

Equity of Consolidated Firms

0

0,00

0

0,00

0

0,00

Reserves

222.817.069

0,23

323.662.796

0,29

392.323.322

0,31

Revaluation Fund

5.633

0,00

5.633

0,00

5.633

0,00

Accumulated Losses(-)

0

0,00

0

0,00

0

0,00

Net Profit (loss)

130.717.388

0,14

76.260.526

0,07

136.805.278

0,11

TOTAL LIABILITIES AND EQUITY

957.592.139

1,00

1.129.479.946

1,00

1.284.488.293

1,00

 

 

 

 ( 31.12.2010 )  TL

 

 ( 30.06.2011 )  TL

 

CURRENT ASSETS

893.626.410

0,66

991.432.580

0,65

Not Detailed Current Assets

0

0,00

0

0,00

Cash and Banks

609.295.059

0,45

590.933.031

0,38

Marketable Securities

0

0,00

0

0,00

Account Receivable

163.606.140

0,12

187.290.267

0,12

Other Receivable

61.812

0,00

50.012

0,00

Inventories

65.245.954

0,05

119.950.930

0,08

Advances Given

38.277.632

0,03

64.201.383

0,04

Accumulated Construction Expense

0

0,00

0

0,00

Other Current Assets

17.139.813

0,01

29.006.957

0,02

NON-CURRENT ASSETS

462.156.635

0,34

544.203.957

0,35

Not Detailed Non-Current Assets

0

0,00

0

0,00

Long-term Receivable

1.218.299

0,00

7.401.588

0,00

Financial Assets

195.949.438

0,14

215.685.887

0,14

Tangible Fixed Assets (net)

262.221.072

0,19

319.121.183

0,21

Intangible Assets

1.804.704

0,00

1.910.131

0,00

Deferred Tax Assets

0

0,00

0

0,00

Other Non-Current Assets

963.122

0,00

85.168

0,00

TOTAL ASSETS

1.355.783.045

1,00

1.535.636.537

1,00

CURRENT LIABILITIES

382.179.636

0,28

516.817.866

0,34

Not Detailed Current Liabilities

0

0,00

0

0,00

Financial Loans

120.560.890

0,09

118.773.475

0,08

Accounts Payable

173.644.982

0,13

280.251.435

0,18

Loans from Shareholders

0

0,00

0

0,00

Other Short-term Payable

0

0,00

0

0,00

Advances from Customers

54.093.841

0,04

70.410.491

0,05

Accumulated Construction Income

0

0,00

0

0,00

Taxes Payable

3.849.107

0,00

2.885.910

0,00

Provisions

5.922.891

0,00

14.585.309

0,01

Other Current Liabilities

24.107.925

0,02

29.911.246

0,02

LONG-TERM LIABILITIES

194.446.293

0,14

333.051.971

0,22

Not Detailed Long-term Liabilities

0

0,00

0

0,00

Financial Loans

177.181.735

0,13

317.814.534

0,21

Securities Issued

0

0,00

0

0,00

Long-term Payable

16.125.588

0,01

14.701.890

0,01

Loans from Shareholders

580.916

0,00

535.547

0,00

Other Long-term Liabilities

558.054

0,00

0

0,00

Provisions

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

779.157.116

0,57

685.766.700

0,45

Not Detailed Stockholders' Equity

0

0,00

0

0,00

Paid-in Capital

160.000.000

0,12

160.000.000

0,10

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

500.336.146

0,37

619.279.772

0,40

Revaluation Fund

5.633

0,00

5.633

0,00

Accumulated Losses(-)

0

0,00

0

0,00

Net Profit (loss)

118.815.337

0,09

-93.518.705

-0,06

TOTAL LIABILITIES AND EQUITY

1.355.783.045

1,00

1.535.636.537

1,00

 

 

REMARKS ON FINANCIAL STATEMENT

:

At the last income statement TL 71.833.255 of the other income is due to "Profit from Foreign Currency Exchange". 

 

At the last income statement TL 235.163.851 of the other expenses is due to "Loss from Foreign Currency Exchange".

 

 

INCOME STATEMENTS

 

 

(2007) TL

 

(2008) TL

 

(2009) TL

 

Net Sales

932.295.474

1,00

997.737.380

1,00

739.296.379

1,00

Cost of Goods Sold

706.935.266

0,76

739.526.198

0,74

478.606.302

0,65

Gross Profit

225.360.208

0,24

258.211.182

0,26

260.690.077

0,35

Operating Expenses

57.077.638

0,06

55.773.344

0,06

49.210.958

0,07

Operating Profit

168.282.570

0,18

202.437.838

0,20

211.479.119

0,29

Other Income

79.350.521

0,09

138.930.133

0,14

211.722.666

0,29

Other Expenses

63.249.158

0,07

218.486.038

0,22

217.398.720

0,29

Financial Expenses

20.730.837

0,02

27.226.160

0,03

33.777.787

0,05

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

163.653.096

0,18

95.655.773

0,10

172.025.278

0,23

Tax Payable

32.935.708

0,04

19.395.247

0,02

35.220.000

0,05

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

Net Profit (loss)

130.717.388

0,14

76.260.526

0,08

136.805.278

0,19

 

 

 

(2010) TL

 

(01.01-30.06.2011) TL

 

Net Sales

857.702.984

1,00

529.850.613

1,00

Cost of Goods Sold

677.106.641

0,79

420.079.497

0,79

Gross Profit

180.596.343

0,21

109.771.116

0,21

Operating Expenses

64.748.896

0,08

41.105.017

0,08

Operating Profit

115.847.447

0,14

68.666.099

0,13

Other Income

177.458.283

0,21

84.805.861

0,16

Other Expenses

119.649.744

0,14

235.652.924

0,44

Financial Expenses

24.643.383

0,03

11.337.741

0,02

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

149.012.603

0,17

-93.518.705

-0,18

Tax Payable

30.197.266

0,04

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

118.815.337

0,14

-93.518.705

-0,18

 

 

FINANCIAL RATIOS

 

 

(2007)

(2008)

(2009)

(2010)

(01.01-30.06.2011)

LIQUIDITY RATIOS

 

Current Ratio

3,36

3,30

2,56

2,34

1,92

Acid-Test Ratio

2,93

3,08

2,28

2,02

1,51

Cash Ratio

2,37

2,48

1,89

1,59

1,14

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,06

0,03

0,03

0,05

0,08

Short-term Receivable/Total Assets

0,11

0,13

0,11

0,12

0,12

Tangible Assets/Total Assets

0,26

0,22

0,19

0,19

0,21

TURNOVER RATIOS

 

Inventory Turnover

11,43

25,46

12,81

10,38

3,50

Stockholders' Equity Turnover

1,82

1,78

1,07

1,10

0,77

Asset Turnover

0,97

0,88

0,58

0,63

0,35

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,54

0,50

0,54

0,57

0,45

Current Liabilities/Total Assets

0,20

0,21

0,28

0,28

0,34

Financial Leverage

0,46

0,50

0,46

0,43

0,55

Gearing Percentage

0,86

1,02

0,86

0,74

1,24

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

0,25

0,14

0,20

0,15

-0,14

Operating Profit Margin

0,18

0,20

0,29

0,14

0,13

Net Profit Margin

0,14

0,08

0,19

0,14

-0,18

Interest Cover

8,89

4,51

6,09

7,05

-7,25

COLLECTION-PAYMENT

 

Average Collection Period (days)

41,86

52,44

74,13

69,18

132,28

Average Payable Period (days)

53,31

55,38

75,41

100,90

252,77

WORKING CAPITAL

458240589,00

555718188,00

560999285,00

511446774,00

474614714,00

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.08

UK Pound

1

Rs.86.68

Euro

1

Rs.69.36

 

 

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.