|
Report Date : |
06.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
CUKUROVA KIMYA ENDUSTRISI A.S. |
|
|
|
|
Registered Office : |
Organize Sanayi Bolgesi 50.Yil Cad. No: 10 Manisa |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
1977 |
|
|
|
|
Com. Reg. No.: |
3182 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and trade of chemical.
|
|
|
|
|
No. of Employees : |
135 |
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 : |
Good |
|
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 |
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
|
NAME |
: |
CUKUROVA KIMYA ENDUSTRISI A.S. |
|
HEAD OFFICE ADDRESS |
: |
Organize Sanayi Bolgesi 50.Yil Cad. No: 10 Manisa / Turkey |
|
PHONE NUMBER |
: |
90-236-233 23 20 |
|
FAX NUMBER |
: |
90-236 233 23 23 |
|
WEB-ADDRESS |
: |
www.cukurovakimya.com.tr |
|
E-MAIL |
: |
info@cukurovakimya.com.tr |
|
TAX OFFICE |
: |
Mesir |
|
TAX NO |
: |
2640028754 |
|
REGISTRATION NUMBER |
: |
3182 |
|
REGISTERED OFFICE |
: |
Manisa Chamber of Commerce and Industry |
|
DATE ESTABLISHED |
: |
1977 |
|
LEGAL FORM |
: |
Joint Stock Company |
|
TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
TL 18.435.000 |
|
PAID-IN CAPITAL |
: |
TL 18.435.000 |
|
HISTORY |
: |
|
|
SHAREHOLDERS |
: |
|
||||||||||||||||||||
|
GROUP PARENT COMPANY |
: |
CUKUROVA HOLDING A.S. |
||||||||||||||||||||
|
SISTER COMPANIES |
: |
AD GRUP BASIN SERVISLERI A.S. ADD PRODUCTION MEDYA A.S. AKDENIZ ENDUSTRI VE TARIM URUNLERI TICARET A.S. AKS ARTI YAYINCILIK SANAYI VE TICARET A.S. AKS MAKSIMUM YAYINCILIK SANAYI VE TICARET A.S. AKS SPOR YAYINCILIK SANAYI VE TICARET A.S. AKS TELEVIZYON REKLAMCILIK VE FILMCILIK SANAYI VE TICARET A.S. AKS ULUSLARARASI YAYINCILIK SANAYI VE TICARET A.S. AKSAM DENIZCILIK VE TICARET A.S. AKSAM HABER AJANSI A.S. AKSAMUSTU DENIZCILIK A.S. ALEM RADYO VE TELEVIZYON YAYINCILIK TICARET A.S. ANADOLU ULUSLARARASI TICARET VE TASIMACILIK A.S. A-TEL PAZARLAMA VE SERVIS HIZMETLERI A.S. ATKASAN ATIK DEGERLENDIRME SANAYI VE TICARET A.S. ATLAS YAYINCILIK VE TICARET A.S. ATLAS YAYINCILIK YAPIMCILIK VE REKLAMCILIK A.S. AVOR INSAAT GIDA TEKSTIL KIMYA SANAYI VE TICARET A.S. AZERCELL TELECOM BM AZERONLINE LTD JV BANQUE DE COMMERCE ET DE PLACEMENTS S.A. BARBAROS DENIZCILIK ISLETMESI A.S. BATI DENIZCILIK ISLETMESI A.S. BAYTUR AL INMAA JSC BAYTUR GAYRIMENKUL YATIRIM PAZARLAMA A.S. BAYTUR INSAAT TAAHHUT A.S. BILYONER INTERAKTIF HIZMETLER A.S. BMC SANAYI VE TICARET A.S. CLOSED JOINT-STOCK COMPANY BELARUSSIAN TELECOMMUNICATIONS NETWORK COMAG ITHALAT IHRACAT MADEN SANAYI TICARET VE YATIRIM A.S. CORBUSS KURUMSAL TELEKOM SERVIS HIZMETLERI A.S. CTU CUKUROVA TUKETIM URUNLERI PAZARLAMA SANAYI VE TICARET A.S. CUKUROVA CELIK ENDUSTRISI A.S. CUKUROVA FINANCE INTERNATIONAL LTD. CUKUROVA HAVACILIK A.S. CUKUROVA HOLDING A.S. CUKUROVA INSAAT MAKINALARI SANAYI VE TICARET A.S. CUKUROVA INVESTMENTS N.V. CUKUROVA ITHALAT VE IHRACAT TURK A.S. CUKUROVA JENERATOR MUMESSILLIK MUSAVIRLIK A.S. CUKUROVA JENERATOR SANAYII TICARET A.S. CUKUROVA MAKINA IMALAT VE TICARET A.S. CUKUROVA MAKINE KIRALAMA PAZARLAMA ITHALAT IHRACAT VE TICARET A.S. CUKUROVA SANAYI ISLETMELERI T.A.S. CUKUROVA TELECOM HOLDINGS LIMITED CUKUROVA ZIRAAT ENDUSTRI VE TICARET A.S. DAUSSAN CUKUROVA KIMYA DOKUM REFRAKTER MALZEMELERI SANAYI VE TICARET
A.S. DEMIR TOPRAK ITHALAT IHRACAT VE TICARET A.S. DIGITAL PLATFORM ILETISIM HIZMETLERI A.S. DIGITAL PLATFORM TEKNOLOJI HIZMETLERI A.S. DIGITURK HOLDINGS N.V. DOGU DENIZCILIK VE TICARET A.S. DOST ILETISIM VE PRODUKSIYON A.S. DP ACQUISITIONS BV E.T.H. EUROPEAN TELECOMMUNICATION HOLDING AG EAST ASIAN CONSORTIUM B.V. EKSEN YAYINCILIK DAGITIM PAZARLAMA VE DIS TICARET A.S. EMBO EMAYE VE BOYALI ESYA YAYINCILIK SANAYI VE TICARET A.S. ENDUSTRI HOLDING A.S. ETERPARK ENDUSTRI URUNLERI IMALAT TICARET ITHALAT
IHRACAT VE PAZARLAMA A.S. ETKEN TEKSTIL ENDUSTRI TICARET A.S. EUROASIA TELECOMMUNICATIONS HOLDINGS BV FINANCELL B.V. FINTUR HOLDINGS B.V. FINTUR TECHNOLOGIES BV GAMAT GAZETECILIK MATBACILIK A.S. GEDEN DENIZCILIK A.S. GEDEN HOLDINGS LTD. GENEL DENIZCILIK NAKLIYATI A.S. GENEL ENERGY INTERNATIONAL LTD. GENEL ENERJI A.S. GENEL YAPI YATIRIM INSAAT VE TURIZM A.S. GENEL YATIRIM A.S. GEOCELL LLC GIDA SANAYI VE TICARET A.S. GLOBAL BILGI PAZARLAMA DANISMA VE CAGRI SERVISI HIZMETLERI A.S. GURTEL TELEKOMUNIKASYON YATIRIM VE DIS TICARET A.S. HOBIM BILGI ISLEM HIZMETLERI A.S. ICS MOLFINTUR SRL INTA UZAY SISTEMLERI ILETISIM A.S. INTELTEK INTERNET TEKNOLOJI YATIRIM VE DANISMANLIK TICARET A.S. INTERCON DANISMANLIK VE EGITIM HIZMETLERI A.S. INTERDEPO ULUSLARARASI OZEL ANTREPO ISLETMECILIGI A.S. JUPITER TELEVIZYON YAYINCILIK A.S. K.V.K. ILETISIM DIS TICARET A.S. K.V.K. TEKNIK SERVIS HIZMETLERI VE TICARET A.S. K.V.K. TEKNOLOJI URUNLERI VE TICARET A.S. K.V.K. YATIRIM HOLDING A.S. KAPLAMIN AMBALAJ SANAYI VE TICARET A.S. KARAMKO IMALAT ZIRAAT ENDUSTRI VE TICARET A.S. KIBRIS MOBILE TELEKOMUNIKASYON LTD. KULE HIZMET VE ISLETMECILIK A.S. KURTSON MADEN VE SANAYI ISLETMELERI A.S. LLC (LIMITED LIABILITY COMPANY) ASTELIT LLP GSM KAZAKHSTAN OAO MAYSAN MAKINA VE YEDEK PARCA SANAYI VE TICARET A.S. MAYSAN MANDO OTOMOTIV PARCALARI SANAYI VE TICARET A.S. MEDYA PAZARLAMA A.S. MILLENICOM GMBH MILLENICOM TELEKOMUNIKASYON HIZMETLERI A.S. MMEKA MAKINE ITHALAT PAZARLAMA VE TICARET A.S. MOLDCELL SA NAMRUN FINANCE S.A. NOKSEL CELIK BORU SANAYI A.S. NOKSEL ESPANA S.A OREN DENIZCILIK NAKLIYAT VE TICARET A.S. ORUC REIS DENIZCILIK ISLETMESI A.S. OVA-SCA PACKAGING AMBALAJ SANAYI VE TICARET A.S. PAMUKSPOR SPOR VE TURIZM HIZMETLERI SANAYI VE TICARET A.S PERA MADEN SANAYI VE TICARET A.S. PLUTON TELEVIZYON YAYINCILIK A.S. PREVEZE BEYNELMILEL NAKLIYAT A.S. REHBERLIK HIZMETLERI SERVISI A.S. SAKARYA KENT RADYO TELEVIZYON SANAYI VE TICARET A.S. SANS OYUNLARI VE TEKNOLOJI A.S. SAUDI ARABIAN BAYTUR S.A. BAYTUR L.L.C. SCA PACKAGING AMBALAJ SANAYI VE TICARET A.S. SELKASAN KAGIT VE PAKETLEME MALZEMELERI IMALATI SAN. VE TIC. A.S. SEYDI REIS DENIZCILIK ISLETMESI A.S. SHOW HABER AJANSI LTD. STI. SINAI VE MALI YATIRIMLAR HOLDING A.S. SOVTUR ITHALAT IHRACAT VE TICARET A.S. STARGATE GAYRIMENKUL YATIRIM ITHALAT IHRACAT VE TICARET A.S. SUPERONLINE ILETISIM HIZMETLERI A.S. SURTUR B.V. TALIH KUSU ALTYAPI HIZMETLERI A.S. TANA TELEVIZYON YAYINCILIK A.S. TAQ TAQ OPERATING COMPANY LTD. TMEDYA BASKI TEKNOLOJILERI A.S. TMEDYA MAGAZIN YAYINCILIK SAN. VE TIC. A.S. TMEDYA PAZARLAMA VE DIS TICARET A.S. TMEDYA TELEVIZYON VE YAYINCILIK A.S. TMEDYA YATIRIM SANAYI VE TICARET A.S. TOPAZ TELEKOMUNIKASYON YAYINCILIK REKLAMCILIK SAN. VE TIC. A.S TURIZM ORGANIZASYON VE SEYAHAT TIC. A.S. TURKCELL GAYRIMENKUL HIZMETLERI A.S. TURKCELL HOLDING A.S TURKCELL ILETISIM HIZMETLERI A.S. TURKCELL KURUMSAL SATIS VE DAGITIM HIZMETLERI A.S. TURKCELL TEKNOLOJI ARASTIRMA VE GELISTIRME A.S. TURKISH QATARI BAYTUR GENERAL CONSTRUCTION CO. L.L.C. TURKTELL BILISIM SERVISLERI A.S. TURKTELL ULUSLARARASI YATIRIM HOLDING A.S. UKR TO WER LLC YENI HIZMET RADYO TELEVIZYON A.S. ZEDPAS MEDYA PAZARLAMA A.S. |
|
SUBSIDIARIES |
: |
DAUSSAN CUKUROVA KIMYA DOKUM REFRAKTER MALZEMELERI SANAYI VE TICARET
A.S. GENEL YAPI YATIRIM INSAAT VE TURIZM A.S. KAPLAMIN AMBALAJ SANAYI VE TICARET A.S. |
||||||||||||
|
BOARD OF DIRECTORS |
: |
|
||||||||||||
|
DIRECTORS |
: |
|
|
BUSINESS ACTIVITIES |
: |
Manufacture and trade of chemical.
|
|
NACE CODE |
: |
DG.24.00 |
|
SECTOR |
: |
Chemical |
|
NUMBER OF EMPLOYEES |
: |
135 |
||||||||||||||||||||||||||||
|
NET SALES |
: |
|
||||||||||||||||||||||||||||
|
IMPORT VALUE |
: |
|
||||||||||||||||||||||||||||
|
IMPORT COUNTRIES |
: |
Netherlands Germany U.K. Switzerland |
|
MERCHANDISE IMPORTED |
: |
Chemicals |
||||||||||||||||||||||||||||
|
EXPORT VALUE |
: |
|
||||||||||||||||||||||||||||
|
EXPORT COUNTRIES |
: |
Pakistan Azerbaijan Bulgaria Middle East Countries |
||||||||||||||||||||||||||||
|
MERCHANDISE EXPORTED |
: |
Chemicals |
||||||||||||||||||||||||||||
|
HEAD OFFICE ADDRESS |
: |
Organize Sanayi Bolgesi 50.Yil Cad. No: 10 Manisa / Turkey ( owned ) |
||||||||||||||||||||||||||||
|
BRANCHES |
: |
Head Office/Factory : Organize Sanayi Bolgesi 50.Yil Cad. No: 10
Manisa/Turkey (owned) (103.000 sqm) |
||||||||||||||||||||||||||||
|
INVESTMENTS |
: |
Investments are going on. |
|
TREND OF BUSINESS |
: |
There was an upwards trend in
2011. There appears an upwards trend in 1.1 - 30.6.2012. |
|
SIZE OF BUSINESS |
: |
Large |
|
MAIN DEALING BANKS |
: |
Anadolubank Bornova Branch Garanti Bankasi Manisa Branch T.Is Bankasi Ege Kurumsal Branch Turk Ekonomi Bankasi Ege Kurumsal 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 |
: |
|
|
Capitalization |
High As of 31.12.2011 |
|
Liquidity |
Satisfactory As of 31.12.2011 |
|
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 |
High Operating Profitability in
2008 High Net Profitability in 2008 Good Operating Profitability in
2009 Net Loss in 2009 In Order Operating Profitability
in 2010 In Order Net Profitability in
2010 High Operating Profitability in
2011 High Net Profitability in 2011 High Operating Profitability (01.01-30.06.2012) High Net Profitability (01.01-30.06.2012) |
|
Gap between average collection and payable periods |
Unfavorable in 2011 |
|
General Financial Position |
In Order |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 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 |
|
( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
|
( 01.01-30.06.2012) |
1,95 % |
1,8028 |
2,3463 |
2,8462 |
|
( 01.01-31.07.2012) |
1,71 % |
1,8018 |
2,3285 |
2,8424 |
|
|
( 31.12.2008 ) TL |
|
( 31.12.2009 ) TL |
|
( 31.12.2010 ) TL |
|
( 31.12.2011 ) TL |
|
|
CURRENT ASSETS |
22.730.722 |
0,61 |
23.242.421 |
0,64 |
28.031.962 |
0,67 |
41.189.995 |
0,74 |
|
Not Detailed Current Assets |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Cash and Banks |
707.633 |
0,02 |
1.205.113 |
0,03 |
444.792 |
0,01 |
760.193 |
0,01 |
|
Marketable Securities |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Account Receivable |
12.662.178 |
0,34 |
15.165.904 |
0,42 |
20.405.628 |
0,49 |
30.693.404 |
0,55 |
|
Other Receivable |
0 |
0,00 |
0 |
0,00 |
8.539 |
0,00 |
109 |
0,00 |
|
Inventories |
8.631.278 |
0,23 |
6.633.606 |
0,18 |
6.976.267 |
0,17 |
9.610.699 |
0,17 |
|
Advances Given |
464.102 |
0,01 |
221.289 |
0,01 |
20.323 |
0,00 |
34.900 |
0,00 |
|
Accumulated Construction Expense |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Other Current Assets |
265.531 |
0,01 |
16.509 |
0,00 |
176.413 |
0,00 |
90.690 |
0,00 |
|
NON-CURRENT ASSETS |
14.513.118 |
0,39 |
13.071.177 |
0,36 |
13.501.189 |
0,33 |
14.804.858 |
0,26 |
|
Not Detailed Non-Current Assets |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Long-term Receivable |
750 |
0,00 |
0 |
0,00 |
3.700 |
0,00 |
0 |
0,00 |
|
Financial Assets |
715.868 |
0,02 |
2.715.868 |
0,07 |
3.215.868 |
0,08 |
4.360.868 |
0,08 |
|
Tangible Fixed Assets (net) |
13.721.109 |
0,37 |
10.294.013 |
0,28 |
10.253.192 |
0,25 |
10.435.211 |
0,19 |
|
Intangible Assets |
44.829 |
0,00 |
25.377 |
0,00 |
28.429 |
0,00 |
8.779 |
0,00 |
|
Deferred Tax Assets |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Other Non-Current Assets |
30.562 |
0,00 |
35.919 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
TOTAL ASSETS |
37.243.840 |
1,00 |
36.313.598 |
1,00 |
41.533.151 |
1,00 |
55.994.853 |
1,00 |
|
CURRENT LIABILITIES |
9.040.471 |
0,24 |
9.142.125 |
0,25 |
12.710.014 |
0,31 |
19.158.090 |
0,34 |
|
Not Detailed Current Liabilities |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Financial Loans |
2.340.267 |
0,06 |
3.365.778 |
0,09 |
3.582.116 |
0,09 |
6.225.000 |
0,11 |
|
Accounts Payable |
4.997.616 |
0,13 |
4.951.649 |
0,14 |
8.569.579 |
0,21 |
11.368.545 |
0,20 |
|
Loans from Shareholders |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Other Short-term Payable |
28.607 |
0,00 |
1.208 |
0,00 |
1.013 |
0,00 |
4.520 |
0,00 |
|
Advances from Customers |
60.127 |
0,00 |
12.130 |
0,00 |
103.092 |
0,00 |
0 |
0,00 |
|
Accumulated Construction Income |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Taxes Payable |
885.165 |
0,02 |
367.529 |
0,01 |
324.049 |
0,01 |
1.203.287 |
0,02 |
|
Provisions |
719.663 |
0,02 |
427.322 |
0,01 |
116.192 |
0,00 |
308.759 |
0,01 |
|
Other Current Liabilities |
9.026 |
0,00 |
16.509 |
0,00 |
13.973 |
0,00 |
47.979 |
0,00 |
|
LONG-TERM LIABILITIES |
1.158.946 |
0,03 |
1.173.113 |
0,03 |
1.165.862 |
0,03 |
1.754.424 |
0,03 |
|
Not Detailed Long-term Liabilities |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Financial Loans |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Securities Issued |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Long-term Payable |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Loans from Shareholders |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Other Long-term Liabilities |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Provisions |
1.158.946 |
0,03 |
1.173.113 |
0,03 |
1.165.862 |
0,03 |
1.754.424 |
0,03 |
|
STOCKHOLDERS' EQUITY |
27.044.423 |
0,73 |
25.998.360 |
0,72 |
27.657.275 |
0,67 |
35.082.339 |
0,63 |
|
Not Detailed Stockholders' Equity |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Paid-in Capital |
18.435.000 |
0,49 |
18.435.000 |
0,51 |
18.435.000 |
0,44 |
18.435.000 |
0,33 |
|
Cross Shareholding Adjustment of Capital |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Inflation Adjustment of Capital |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Equity of Consolidated Firms |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Reserves |
4.228.158 |
0,11 |
8.609.423 |
0,24 |
8.609.423 |
0,21 |
9.222.275 |
0,16 |
|
Revaluation Fund |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Accumulated Losses(-) |
0 |
0,00 |
0 |
0,00 |
-1.046.063 |
-0,03 |
0 |
0,00 |
|
Net Profit (loss) |
4.381.265 |
0,12 |
-1.046.063 |
-0,03 |
1.658.915 |
0,04 |
7.425.064 |
0,13 |
|
TOTAL LIABILITIES AND EQUITY |
37.243.840 |
1,00 |
36.313.598 |
1,00 |
41.533.151 |
1,00 |
55.994.853 |
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 are given under "Account Receivable" figure
and "Account Payable" figure
respectively. |
|
|
(2008) TL |
|
(2009) TL |
|
(2010) TL |
|
(2011) TL |
|
(01.01-30.06.2012)
TL |
|
|
Net Sales |
58.130.249 |
1,00 |
43.136.543 |
1,00 |
55.981.862 |
1,00 |
82.536.954 |
1,00 |
44.339.599 |
1,00 |
|
Cost of Goods Sold |
46.483.753 |
0,80 |
34.127.343 |
0,79 |
46.827.369 |
0,84 |
63.426.051 |
0,77 |
35.007.645 |
0,79 |
|
Gross Profit |
11.646.496 |
0,20 |
9.009.200 |
0,21 |
9.154.493 |
0,16 |
19.110.903 |
0,23 |
9.331.954 |
0,21 |
|
Operating Expenses |
5.305.806 |
0,09 |
5.369.090 |
0,12 |
6.321.472 |
0,11 |
6.752.386 |
0,08 |
4.451.828 |
0,10 |
|
Operating Profit |
6.340.690 |
0,11 |
3.640.110 |
0,08 |
2.833.021 |
0,05 |
12.358.517 |
0,15 |
4.880.126 |
0,11 |
|
Other Income |
2.415.630 |
0,04 |
969.496 |
0,02 |
1.123.720 |
0,02 |
1.426.065 |
0,02 |
690.531 |
0,02 |
|
Other Expenses |
3.840.706 |
0,07 |
4.620.769 |
0,11 |
1.446.021 |
0,03 |
3.675.535 |
0,04 |
1.007.879 |
0,02 |
|
Financial Expenses |
229.014 |
0,00 |
417.460 |
0,01 |
423.711 |
0,01 |
654.904 |
0,01 |
496.343 |
0,01 |
|
Minority Interests |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss) of consolidated firms |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss) Before Tax |
4.686.600 |
0,08 |
-428.623 |
-0,01 |
2.087.009 |
0,04 |
9.454.143 |
0,11 |
4.066.435 |
0,09 |
|
Tax Payable |
305.335 |
0,01 |
617.440 |
0,01 |
428.094 |
0,01 |
2.029.079 |
0,02 |
0 |
0,00 |
|
Postponed Tax Gain |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Net Profit (loss) |
4.381.265 |
0,08 |
-1.046.063 |
-0,02 |
1.658.915 |
0,03 |
7.425.064 |
0,09 |
4.066.435 |
0,09 |
|
|
(2008) |
(2009) |
(2010) |
(2011) |
|
LIQUIDITY RATIOS |
|
|
||
|
Current Ratio |
2,51 |
2,54 |
2,21 |
2,15 |
|
Acid-Test Ratio |
1,48 |
1,79 |
1,64 |
1,64 |
|
Cash Ratio |
0,08 |
0,13 |
0,03 |
0,04 |
|
ASSET STRUCTURE RATIOS |
|
|
||
|
Inventory/Total Assets |
0,23 |
0,18 |
0,17 |
0,17 |
|
Short-term Receivable/Total Assets |
0,34 |
0,42 |
0,49 |
0,55 |
|
Tangible Assets/Total Assets |
0,37 |
0,28 |
0,25 |
0,19 |
|
TURNOVER RATIOS |
|
|
||
|
Inventory Turnover |
5,39 |
5,14 |
6,71 |
6,60 |
|
Stockholders' Equity Turnover |
2,15 |
1,66 |
2,02 |
2,35 |
|
Asset Turnover |
1,56 |
1,19 |
1,35 |
1,47 |
|
FINANCIAL STRUCTURE |
|
|
||
|
Stockholders' Equity/Total Assets |
0,73 |
0,72 |
0,67 |
0,63 |
|
Current Liabilities/Total Assets |
0,24 |
0,25 |
0,31 |
0,34 |
|
Financial Leverage |
0,27 |
0,28 |
0,33 |
0,37 |
|
Gearing Percentage |
0,38 |
0,40 |
0,50 |
0,60 |
|
PROFITABILITY RATIOS |
|
|
||
|
Net Profit/Stockholders' Eq. |
0,16 |
-0,04 |
0,06 |
0,21 |
|
Operating Profit Margin |
0,11 |
0,08 |
0,05 |
0,15 |
|
Net Profit Margin |
0,08 |
-0,02 |
0,03 |
0,09 |
|
Interest Cover |
21,46 |
-0,03 |
5,93 |
15,44 |
|
COLLECTION-PAYMENT |
|
|
||
|
Average Collection Period (days) |
78,42 |
126,57 |
131,25 |
133,87 |
|
Average Payable Period (days) |
38,70 |
52,23 |
65,88 |
64,53 |
|
WORKING CAPITAL |
13690251,00 |
14100296,00 |
15321948,00 |
22031905,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.89 |
|
|
1 |
Rs.88.62 |
|
Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.