MIRA INFORM REPORT

 

 

Report Date :

30.04.2013

 

IDENTIFICATION DETAILS

 

Name :

OGUZ TEKSTIL SANAYI VE TICARET A.S.

 

 

Registered Office :

Adana Haci Sabanci Organize Sanayi Bolgesi OSB Vatan Cad. No:4 Yakapinar Adana

 

 

Country :

Turkey

 

 

Financials (as on) :

30.09.2012

 

 

Date of Incorporation :

06.11.1995

 

 

Com. Reg. No.:

30729

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Weaving, dyeing, finishing and trade of fabric. The firm also deals with manufacturing of yarn for its own use.  The firm has declared that, it started manufacturing of yarn in August 2012.

 

 

No. of Employees :

844

 

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 :

Satisfactory

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Turkey

B2

B2

 

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 9.2% in 2010, as exports returned to normal levels following the recession. Growth dropped to approximately 3% in 2012. Turkey's public sector debt to GDP ratio has fallen to about 40%, and at least one rating agency upgraded Turkey's debt to investment grade in 2012. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit. The stock value of FDI stood at $117 billion at year-end 2012. Inflows have slowed because of continuing economic turmoil in Europe, the source of much of Turkey's FDI. 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

:

OGUZ TEKSTIL SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Adana Haci Sabanci Organize Sanayi Bolgesi OSB Vatan Cad. No:4 Yakapinar Adana / Turkey

REMARKS ON HEAD OFFICE ADDRESS

:

The street name was changed from "25. Cad." to "Vatan Cad." by the municipality.

PHONE NUMBE

:

90-322-394 40 53

 

FAX NUMBER

:

90-322-394 33 79

 

WEB-ADDRESS

:

www.oguztekstil.com.tr

E-MAIL

:

info@oguztekstil.com.tr

 

LEGAL STATUS AND HISTORY

 

 

TAX OFFICE

:

Yuregir

TAX NO

:

6350042040

REGISTRATION NUMBER

:

30729

REGISTERED OFFICE

:

Adana Chamber of Commerce

DATE ESTABLISHED

:

06.11.1995

ESTABLISHMENT GAZETTE DATE/NO

:

22.11.1995/3920

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   87.000.000

HISTORY

:

Previous Registered Capital

:

TL 12.500.000

Changed On

:

27.06.2008 (Commercial Gazette Date /Number 04.07.2008/ 7098)

Previous Registered Capital

:

TL 17.500.000

Changed On

:

04.12.2009 (Commercial Gazette Date /Number 14.12.2009/ 7457)

Previous Registered Capital

:

TL 27.000.000

Changed On

:

29.12.2010 (Commercial Gazette Date /Number 10.01.2011/ 7726)

Previous Registered Capital

:

TL 38.000.000

Changed On

:

21.06.2011 (Commercial Gazette Date /Number 01.07.2011/ 7849)

Previous Registered Capital

:

TL 47.000.000

Changed On

:

29.05.2012 (Commercial Gazette Date /Number 08.06.2012/ 8086)

Previous Registered Capital

:

TL 71.000.000

Changed On

:

04.04.2013 (Commercial Gazette Date /Number 12.04.2013/ 8299)

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Israfil Ucurum

47 %

Arif Ucurum

31 %

Yusuf Ucurum

16 %

Murat Ucurum

3 %

Fatma Ucurum

1 %

Atike Ucurum

1 %

Ayse Ucurum

1 %

 

 

SISTER COMPANIES

:

Declared to be: None

 

BOARD OF DIRECTORS

:

Arif Ucurum

Chairman

Israfil Ucurum

Vice-Chairman

Fatma Ucurum

Member

Murat Ucurum

Member

Atike Ucurum

Member

Yusuf Ucurum

Member

Ayse Ucurum

Member

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Weaving, dyeing, finishing and trade of fabric. The firm also deals with manufacturing of yarn for its own use.  The firm has declared that, it started manufacturing of yarn in August 2012.

 

NACE CODE

:

DB.17.21

 

SECTOR

:

Textile

 

TRADEMARKS OWNED

:

Oguz

 

NUMBER OF EMPLOYEES

:

844

 

NET SALES

:

31.716.411 TL

(2006) 

41.223.884 TL

(2007) 

50.086.170 TL

(2008) 

70.041.444 TL

(2009) 

76.360.980 TL

(2010) 

118.259.101 TL

(2011) 

123.139.452 TL

(01.01-30.09.2012) 

 

 

CAPACITY

:

  ( kgs/yr)

  ( Sqm/yr)

 

 

2.263.500

4.584.746

 

(2011)

2.263.500

4.584.746

 

(2012)

 

 

 

 

IMPORT VALUE

:

13.514.359 USD

(2008)

12.983.627 USD

(2009)

14.374.004 USD

(2010)

25.381.954 USD

(2011)

 

 

IMPORT COUNTRIES

:

Korea

India

Indonesia

Philippines

Vietnam

Thailand

 

MERCHANDISE IMPORTED

:

Raw materials

Yarn

 

EXPORT VALUE

:

1.056.670 TL

(2006)

2.527.969 TL

(2007)

8.510.767 TL

(2008)

29.741.398 TL

(2009)

28.141.931 TL

(2010)

58.197.781 TL

(2011)

57.918.927 TL

(01.01-30.09.2012)

 

 

 

EXPORT COUNTRIES

:

Germany

Morocco

China

Vietnam

Jordan

Iran

Syria

Tunisia

Russia

Czech Republic

Spain

Greece

Belgium

U.K.

Italy

Australia

Hong-Kong

Serbia

 

MERCHANDISE  EXPORTED

:

Fabric

 

HEAD OFFICE ADDRESS

:

Adana Haci Sabanci Organize Sanayi Bolgesi OSB Vatan Cad. No:4 Yakapinar  Adana / Turkey ( owned )

 

BRANCHES

:

Head Office/Processing Plant  :  Adana Haci Sabanci Organize Sanayi Bolgesi OSB Vatan Cad. No:4 Yakapinar Adana/Turkey (owned) (25.237 sqm)

 

Branch Office  :  Fatih Cad. Karadal Sok. No:3/2 Istanbul/Turkey (rented)

 

Branch Office  :  New York /U.S.A.

 

INVESTMENTS

:

Investments are going on.

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2011. There appears an upwards trend in  1.1 - 30.9.2012.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Akbank Adana Ticari Branch

Finansbank Adana Branch

Garanti Bankasi Organize Sanayi Branch

ING Bank Adana Branch

Kuveyt Turk Katilim Bankasi Adana Branch

T. Halk Bankasi Adana Ticari Branch

T. Is Bankasi Adana Ticari Branch

Turk Ekonomi Bankasi Cukurova Kurumsal Branch

Turkiye Finans Katilim Bankasi Adana Branch

Yapi ve Kredi Bankasi Organize Sanayi Branch

 

CREDIT FACILITIES

:

The subject company is making active use of credit facilities.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2008) TL

(2009) TL

(2010) TL

(2011) TL

(01.01-30.09.2012) TL

Net Sales

50.086.170

70.041.444

76.360.980

118.259.101

123.139.452

Profit (Loss) Before Tax

1.047.081

1.310.321

3.635.082

5.693.556

6.326.727

Stockholders' Equity

27.881.801

32.171.673

46.076.823

68.872.784

80.934.807

Total Assets

63.247.807

68.988.767

86.689.463

130.524.274

203.336.486

Current Assets

43.382.156

43.855.248

58.365.253

94.995.048

119.857.594

Non-Current Assets

19.865.651

25.133.519

28.324.210

35.529.226

83.478.892

Current Liabilities

33.631.248

34.417.422

23.739.277

57.370.397

63.466.368

Long-Term Liabilities

1.734.758

2.399.672

16.873.363

4.281.093

58.935.311

Gross Profit (loss)

8.757.207

5.741.081

6.810.832

12.427.499

13.143.196

Operating Profit (loss)

7.277.671

3.471.640

4.242.044

7.303.848

9.337.434

Net Profit (loss)

820.472

996.546

2.905.150

4.523.697

5.061.381

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

THE DETAILS OF THE CAPITAL INCREASE  AFTER LAST BALANCE SHEET

 

:

Cash Part

:4.953.685,01 TL

Equity Part

:11.046.314,99 TL

Payment Due Date

:04.04.2015

 

Capitalization

Satisfactory

Remarks on Capitalization

A part of liabilities consist of loans from shareholders. 

 

There has been capital increase after the last balance sheet date. The capital increase is expected to have a slight positive effect on equity total since the last balance sheet date.

 

Liquidity

Insufficient

Remarks On Liquidity

A part of current liabilities consist of short-term loans from shareholders rather than liabilities to third parties. 

 

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

Fair Net Profitability  in 2008

In Order Operating Profitability  in 2009

Low Net Profitability  in 2009

Good Operating Profitability  in 2010

Good Net Profitability  in 2010

Good Operating Profitability  in 2011

Good Net Profitability  in 2011

Good Operating Profitability (01.01-30.09.2012)

Good Net Profitability (01.01-30.09.2012)

 

Gap between average collection and payable periods

Unfavorable in 01.01-30.09.2012

General Financial Position

Passable

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 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

 ( 01.01-30.09.2011)

9,72 %

1,6335

2,3016

2,6294

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-30.09.2012)

3,34 %

1,8029

2,3233

2,8527

 ( 2012 )

2,45 %

1,7995

2,3265

2,8593

 ( 01.01-31.03.2013)

0,50 %

1,7901

2,3575

2,7927

 

 

BALANCE SHEETS

 

 

 ( 31.12.2008 )  TL

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

 ( 31.12.2011 )  TL

 

 ( 30.09.2012 )  TL

 

CURRENT ASSETS

43.382.156

0,69

43.855.248

0,64

58.365.253

0,67

94.995.048

0,73

119.857.594

0,59

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Cash and Banks

1.302.456

0,02

792.481

0,01

25.650.673

0,30

886.978

0,01

2.643.347

0,01

Marketable Securities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Account Receivable

33.438.975

0,53

38.298.959

0,56

23.893.083

0,28

69.164.406

0,53

95.652.149

0,47

Other Receivable

70.113

0,00

0

0,00

118.428

0,00

2.362.441

0,02

2.415.342

0,01

Inventories

6.205.296

0,10

1.627.435

0,02

1.431.676

0,02

9.615.599

0,07

11.066.900

0,05

Advances Given

873.281

0,01

660.723

0,01

4.164.262

0,05

8.655.338

0,07

1.337.543

0,01

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Current Assets

1.492.035

0,02

2.475.650

0,04

3.107.131

0,04

4.310.286

0,03

6.742.313

0,03

NON-CURRENT ASSETS

19.865.651

0,31

25.133.519

0,36

28.324.210

0,33

35.529.226

0,27

83.478.892

0,41

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Receivable

0

0,00

0

0,00

25.151

0,00

16.199

0,00

7.407

0,00

Financial Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Tangible Fixed Assets (net)

19.176.603

0,30

24.836.144

0,36

28.295.919

0,33

35.492.435

0,27

83.372.469

0,41

Intangible Assets

689.048

0,01

297.375

0,00

3.140

0,00

11.577

0,00

24.576

0,00

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

0

0,00

0

0,00

0

0,00

9.015

0,00

74.440

0,00

TOTAL ASSETS

63.247.807

1,00

68.988.767

1,00

86.689.463

1,00

130.524.274

1,00

203.336.486

1,00

CURRENT LIABILITIES

33.631.248

0,53

34.417.422

0,50

23.739.277

0,27

57.370.397

0,44

63.466.368

0,31

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

24.260.479

0,38

14.440.147

0,21

1.341.035

0,02

29.746.187

0,23

23.108.471

0,11

Accounts Payable

4.533.675

0,07

7.003.739

0,10

8.582.711

0,10

10.110.617

0,08

28.091.522

0,14

Loans from Shareholders

2.199.847

0,03

8.669.555

0,13

11.940.799

0,14

13.739.079

0,11

9.484.302

0,05

Other Short-term Payable

14.651

0,00

206.636

0,00

269.971

0,00

369.297

0,00

669.761

0,00

Advances from Customers

2.358.704

0,04

3.869.290

0,06

1.081.940

0,01

2.682.696

0,02

0

0,00

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Taxes Payable

171.924

0,00

116.790

0,00

188.435

0,00

270.246

0,00

846.967

0,00

Provisions

91.968

0,00

111.265

0,00

334.386

0,00

452.275

0,00

1.265.345

0,01

Other Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

LONG-TERM LIABILITIES

1.734.758

0,03

2.399.672

0,03

16.873.363

0,19

4.281.093

0,03

58.935.311

0,29

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

294.778

0,00

2.215.131

0,03

16.698.321

0,19

4.281.093

0,03

58.935.311

0,29

Securities Issued

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Payable

1.439.980

0,02

184.541

0,00

175.042

0,00

0

0,00

0

0,00

Loans from Shareholders

0

0,00

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

0

0,00

Provisions

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

27.881.801

0,44

32.171.673

0,47

46.076.823

0,53

68.872.784

0,53

80.934.807

0,40

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Paid-in Capital

17.500.000

0,28

27.000.000

0,39

38.000.000

0,44

47.000.000

0,36

71.000.000

0,35

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Inflation Adjustment of Capital

6.206.674

0,10

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

0

0,00

Reserves

3.354.655

0,05

4.175.127

0,06

5.171.673

0,06

8.076.823

0,06

4.873.426

0,02

Revaluation Fund

0

0,00

0

0,00

0

0,00

9.272.264

0,07

0

0,00

Accumulated Losses(-)

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

820.472

0,01

996.546

0,01

2.905.150

0,03

4.523.697

0,03

5.061.381

0,02

TOTAL LIABILITIES AND EQUITY

63.247.807

1,00

68.988.767

1,00

86.689.463

1,00

130.524.274

1,00

203.336.486

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. 

 

 

At the last income statement TL 6.972.629 of the other income is due to "Profit from Foreign Currency Exchange". 

 

At the last income statement TL 7.429.581 of the other expenses is due to "Loss from Foreign Currency Exchange".

 

 

INCOME STATEMENTS

 

 

(2008) TL

 

(2009) TL

 

(2010) TL

 

(2011) TL

 

(01.01-30.09.2012) TL

 

Net Sales

50.086.170

1,00

70.041.444

1,00

76.360.980

1,00

118.259.101

1,00

123.139.452

1,00

Cost of Goods Sold

41.328.963

0,83

64.300.363

0,92

69.550.148

0,91

105.831.602

0,89

109.996.256

0,89

Gross Profit

8.757.207

0,17

5.741.081

0,08

6.810.832

0,09

12.427.499

0,11

13.143.196

0,11

Operating Expenses

1.479.536

0,03

2.269.441

0,03

2.568.788

0,03

5.123.651

0,04

3.805.762

0,03

Operating Profit

7.277.671

0,15

3.471.640

0,05

4.242.044

0,06

7.303.848

0,06

9.337.434

0,08

Other Income

452.917

0,01

1.059.890

0,02

3.440.242

0,05

7.248.465

0,06

7.441.742

0,06

Other Expenses

5.211.581

0,10

1.305.204

0,02

3.220.273

0,04

7.507.474

0,06

8.221.590

0,07

Financial Expenses

1.471.926

0,03

1.916.005

0,03

826.931

0,01

1.351.283

0,01

2.230.859

0,02

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

1.047.081

0,02

1.310.321

0,02

3.635.082

0,05

5.693.556

0,05

6.326.727

0,05

Tax Payable

226.609

0,00

313.775

0,00

729.932

0,01

1.169.859

0,01

1.265.346

0,01

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

820.472

0,02

996.546

0,01

2.905.150

0,04

4.523.697

0,04

5.061.381

0,04

 

 

FINANCIAL RATIOS

 

 

(2008)

(2009)

(2010)

(2011)

(01.01-30.09.2012)

LIQUIDITY RATIOS

 

Current Ratio

1,29

1,27

2,46

1,66

1,89

Acid-Test Ratio

1,04

1,14

2,09

1,26

1,59

Cash Ratio

0,04

0,02

1,08

0,02

0,04

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,10

0,02

0,02

0,07

0,05

Short-term Receivable/Total Assets

0,53

0,56

0,28

0,55

0,48

Tangible Assets/Total Assets

0,30

0,36

0,33

0,27

0,41

TURNOVER RATIOS

 

Inventory Turnover

6,66

39,51

48,58

11,01

9,94

Stockholders' Equity Turnover

1,80

2,18

1,66

1,72

1,52

Asset Turnover

0,79

1,02

0,88

0,91

0,61

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,44

0,47

0,53

0,53

0,40

Current Liabilities/Total Assets

0,53

0,50

0,27

0,44

0,31

Financial Leverage

0,56

0,53

0,47

0,47

0,60

Gearing Percentage

1,27

1,14

0,88

0,90

1,51

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

0,03

0,03

0,06

0,07

0,06

Operating Profit Margin

0,15

0,05

0,06

0,06

0,08

Net Profit Margin

0,02

0,01

0,04

0,04

0,04

Interest Cover

1,71

1,68

5,40

5,21

3,84

COLLECTION-PAYMENT

 

Average Collection Period (days)

240,35

196,85

112,76

210,60

279,66

Average Payable Period (days)

52,03

40,25

45,33

34,39

91,94

WORKING CAPITAL

9750908,00

9437826,00

34625976,00

37624651,00

56391226,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.28

UK Pound

1

Rs.84.23

Euro

1

Rs.70.90

 

 

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.