|
Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
OZALP TOROS GIDA SANAYI VE TICARET LTD. STI. |
|
|
|
|
Registered Office : |
Inonu Bulvari Klas Plaza B Blok K:5/10 Akdeniz Mersin / Turkey |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
13.04.2011 |
|
|
|
|
Com. Reg. No.: |
35631 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale trade of pulse |
|
|
|
|
No. of Employees : |
03 |
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 – 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 |
: |
OZALP TOROS GIDA SANAYI VE TICARET LTD. STI. |
|
HEAD OFFICE ADDRESS |
: |
Inonu Bulvari Klas Plaza B Blok K:5/10 Akdeniz Mersin / Turkey |
|
PHONE NUMBER |
: |
90-324-237 40 41 |
|
FAX NUMBER |
: |
90-324-237 40 82 |
|
WEB-ADDRESS |
: |
|
|
E-MAIL |
: |
|
TAX OFFICE |
: |
Liman |
|
TAX NO |
: |
6630322628 |
|
REGISTRATION NUMBER |
: |
35631 |
|
REGISTERED OFFICE |
: |
Mersin Chamber of Commerce and Industry |
|
DATE ESTABLISHED |
: |
13.04.2011 |
|
ESTABLISHMENT GAZETTE DATE/NO |
: |
21.04.2011/7799 |
|
LEGAL FORM |
: |
Limited Company |
|
TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
TL 1.000.000 |
|
HISTORY |
: |
|
|
SHAREHOLDERS |
: |
|
||||||
|
SISTER COMPANIES |
: |
Declared to be: None |
||||||
|
DIRECTORS |
: |
|
|
BUSINESS ACTIVITIES |
: |
Wholesale trade of pulse. |
||||||||
|
NACE CODE |
: |
G .51.21 |
||||||||
|
SECTOR |
: |
Commerce |
||||||||
|
NUMBER OF EMPLOYEES |
: |
3 |
||||||||
|
NET SALES |
: |
|
||||||||
|
CAPACITY |
: |
None |
||||||||
|
PRODUCTION |
: |
None |
||||||||
|
IMPORT COUNTRIES |
: |
Uruguay Canada China Vietnam Peru Madagascar |
||||||||
|
MERCHANDISE IMPORTED |
: |
Pulse |
||||||||
|
EXPORT VALUE |
: |
|
||||||||
|
HEAD OFFICE ADDRESS |
: |
Inonu Bulvari Klas Plaza B Blok K:5/10 Akdeniz Mersin / Turkey |
||||||||
|
BRANCHES |
: |
Warehouse : Mersin Bakliyatcilar Sitesi Ozgurluk Mah.
A-5/6 Mersin/Turkey (rented) Warehouse : Ozgurluk Mah. Halk Bankasi Depolari No:3/4
Mersin/Turkey Warehouse : Mersin Serbest Bolgesi N Ada 3/5 , 3/4
Parsel Mersin/Turkey Liaison Office : Limonluk Mahallesi 2417 Sok. Motiva Is
Merkezi Kat:3 Daire:7 Mersin/Turkey |
||||||||
|
INVESTMENTS |
: |
None |
||||||||
|
TREND OF
BUSINESS |
: |
Undetermined;
young business. |
|
SIZE OF BUSINESS |
: |
Upper-Moderate |
|
MAIN DEALING BANKS |
: |
Akbank Liman Branch |
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|
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 |
Insufficient As
of 31.12.2011 |
|
Liquidity |
Fair 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 |
Fair Operating
Profitability (13.04-31.12.2011) Low Net
Profitability (13.04-31.12.2011) Low Operating
Profitability (01.01-30.06.2012) Low Net
Profitability (01.01-30.06.2012) |
|
Gap between
average collection and payable periods |
Unfavorable in
2011 |
|
General
Financial Position |
Passable |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
|
( 01.01-30.06.2012) |
1,95 % |
1,8028 |
2,3463 |
2,8462 |
|
( 01.01-31.08.2012) |
2,28 % |
1,8038 |
2,3238 |
2,8465 |
|
|
( 31.12.2011 ) TL |
|
|
CURRENT ASSETS |
2.241.875 |
0,88 |
|
Not Detailed
Current Assets |
0 |
0,00 |
|
Cash and Banks |
191.424 |
0,08 |
|
Marketable
Securities |
0 |
0,00 |
|
Account
Receivable |
1.471.355 |
0,58 |
|
Other Receivable |
0 |
0,00 |
|
Inventories |
397.897 |
0,16 |
|
Advances Given |
142.256 |
0,06 |
|
Accumulated
Construction Expense |
0 |
0,00 |
|
Other Current
Assets |
38.943 |
0,02 |
|
NON-CURRENT
ASSETS |
302.549 |
0,12 |
|
Not Detailed
Non-Current Assets |
0 |
0,00 |
|
Long-term
Receivable |
0 |
0,00 |
|
Financial Assets |
0 |
0,00 |
|
Tangible Fixed
Assets (net) |
299.585 |
0,12 |
|
Intangible
Assets |
2.784 |
0,00 |
|
Deferred Tax
Assets |
0 |
0,00 |
|
Other Non-Current
Assets |
180 |
0,00 |
|
TOTAL ASSETS |
2.544.424 |
1,00 |
|
CURRENT
LIABILITIES |
1.997.443 |
0,79 |
|
Not Detailed
Current Liabilities |
0 |
0,00 |
|
Financial Loans |
372.265 |
0,15 |
|
Accounts Payable |
1.190.462 |
0,47 |
|
Loans from Shareholders |
0 |
0,00 |
|
Other Short-term
Payable |
0 |
0,00 |
|
Advances from
Customers |
414.677 |
0,16 |
|
Accumulated
Construction Income |
0 |
0,00 |
|
Taxes Payable |
20.039 |
0,01 |
|
Provisions |
0 |
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 |
546.981 |
0,21 |
|
Not Detailed
Stockholders' Equity |
0 |
0,00 |
|
Paid-in Capital |
416.500 |
0,16 |
|
Cross
Shareholding Adjustment of Capital |
0 |
0,00 |
|
Inflation
Adjustment of Capital |
0 |
0,00 |
|
Equity of
Consolidated Firms |
0 |
0,00 |
|
Reserves |
0 |
0,00 |
|
Revaluation Fund |
0 |
0,00 |
|
Accumulated
Losses(-) |
0 |
0,00 |
|
Net Profit
(loss) |
130.481 |
0,05 |
|
TOTAL
LIABILITIES AND EQUITY |
2.544.424 |
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. |
|
|
(13.04-31.12.2011)
TL |
|
(01.01-30.06.2012)
TL |
|
|
Net Sales |
13.780.680 |
1,00 |
9.164.885 |
1,00 |
|
Cost of Goods
Sold |
13.424.443 |
0,97 |
9.041.610 |
0,99 |
|
Gross Profit |
356.237 |
0,03 |
123.275 |
0,01 |
|
Operating
Expenses |
142.306 |
0,01 |
122.171 |
0,01 |
|
Operating Profit |
213.931 |
0,02 |
1.104 |
0,00 |
|
Other Income |
247.393 |
0,02 |
176.034 |
0,02 |
|
Other Expenses |
297.176 |
0,02 |
166.156 |
0,02 |
|
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 |
164.148 |
0,01 |
10.982 |
0,00 |
|
Tax Payable |
33.667 |
0,00 |
0 |
0,00 |
|
Postponed Tax
Gain |
0 |
0,00 |
0 |
0,00 |
|
Net Profit
(loss) |
130.481 |
0,01 |
10.982 |
0,00 |
|
|
(13.04-31.12.2011) |
|
LIQUIDITY RATIOS |
|
|
Current Ratio |
1,12 |
|
Acid-Test Ratio |
0,83 |
|
Cash Ratio |
0,10 |
|
ASSET STRUCTURE
RATIOS |
|
|
Inventory/Total
Assets |
0,16 |
|
Short-term
Receivable/Total Assets |
0,58 |
|
Tangible
Assets/Total Assets |
0,12 |
|
TURNOVER RATIOS |
|
|
Inventory
Turnover |
33,74 |
|
Stockholders'
Equity Turnover |
25,19 |
|
Asset Turnover |
5,42 |
|
FINANCIAL
STRUCTURE |
|
|
Stockholders'
Equity/Total Assets |
0,21 |
|
Current
Liabilities/Total Assets |
0,79 |
|
Financial
Leverage |
0,79 |
|
Gearing
Percentage |
3,65 |
|
PROFITABILITY
RATIOS |
|
|
Net
Profit/Stockholders' Eq. |
0,24 |
|
Operating Profit
Margin |
0,02 |
|
Net Profit
Margin |
0,01 |
|
Interest Cover |
|
|
COLLECTION-PAYMENT |
|
|
Average
Collection Period (days) |
38,44 |
|
Average Payable
Period (days) |
31,92 |
|
WORKING CAPITAL |
244432,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
UK Pound |
1 |
Rs.86.44 |
|
Euro |
1 |
Rs.68.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.