MIRA INFORM REPORT

 

 

Report Date :

26.06.2013

 

IDENTIFICATION DETAILS

 

Name :

KROMAN CELIK SANAYII A.S.

 

 

Registered Office :

Emek Mah. Asiroglu Cad. No:155 Darica Kocaeli

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

25.06.1966

 

 

Com. Reg. No.:

258

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture, rolling and trade of iron and steel bars, iron rod, profile, angle iron and semi-products and sea port service.  

 

 

No. of Employees :

970

 

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

:

KROMAN CELIK SANAYII A.S.

HEAD OFFICE ADDRESS

:

Emek Mah. Asiroglu Cad. No:155 Darica Kocaeli / Turkey

REMARKS ON HEAD OFFICE ADDRESS

:

The address was changed from "Istanbul Asfalti Osmangazi Mah. Asiroglu Cad. No:175 Cayirova Gebze-Kocaeli" to "Emek Mah. Asiroglu Cad. No:155 Darica-Kocaeli" by Municipality.

PHONE NUMBER

:

90-262-679 20 00

 

FAX NUMBER

:

90-262-679 20 37

 

WEB-ADDRESS

:

www.kromancelik.com.tr

E-MAIL

:

info@kroman.com.tr

 

 

LEGAL STATUS AND HISTORY

 

 

TAX OFFICE

:

Ulucinar

TAX NO

:

5900002356

REGISTRATION NUMBER

:

258

REGISTERED OFFICE

:

Gebze Chamber of Commerce

DATE ESTABLISHED

:

25.06.1966

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   150.000.000

PAID-IN CAPITAL

:

TL   150.000.000

HISTORY

:

Previous Registered Capital

:

TL 26.000.000

Changed On

:

25.04.2008 (Commercial Gazette Date /Number 06.05.2008/ 7056)

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Yucel Boru Ve Profil Endustrisi A.S.

64,02 %

Celsantas Celik Mamulleri Sanayi ve Ticaret A.S.

17,89 %

Cayirova Boru Sanayi ve Ticaret A.S.

17,83 %

Suheyla Yucel

 

Cinar Cankut

 

Gonul Yucel

 

Osman Yucel

 

Cavit Yucel

 

Ugur Yucel

 

Sahin Turkaslan

 

Sermet Hatunoglu

 

Mustafa Yucel

 

 

 

GROUP

:

YUCEL GROUP OF COMPANIES

 

SISTER COMPANIES

:

CAYIROVA BORU SANAYI VE TICARET A.S.

CELSANTAS CELIK MAMULLERI SANAYI VE TICARET A.S.

CEMSAT CELIK MAMULLERI YATIRIM VE PAZARLAMA A.S

DEMTRANS TASIMACILIK VE TICARET A.S.

KARMET METAL SANAYI VE TICARET LTD. STI.

YUCEL BORU VE PROFIL ENDUSTRISI A.S.

YUCEL DANISMANLIK A.S.

YUCEL DEMIR TICARET VE SANAYI LTD. STI.

YUCELBORU IHRACAT ITHALAT VE PAZARLAMA A.S.

 

SUBSIDIARIES

:

CEMSAT CELIK MAMULLERI YATIRIM VE PAZARLAMA A.S.

DEMTRANS TASIMACILIK VE TICARET A.S.

KOSBAS-KOCAELI SERBEST BOLGESI KURUCU VE ISLETICISI A.S.

MARZINC MARMARA GERI KAZANIM SANAYI VE TICARET A.S.

SORMAS SOGUT REFRAKTOR MALZEMELERI A.S.

 

BOARD OF DIRECTORS

:

Sahin Turkaslan

Chairman

Ugur Yucel

Vice-Chairman

Pervin Yucel

Member

Osman Ayrancioglu

Member

Atamer Giyici

Member

Cinar Cankut

Member

Sermet Hatunoglu

Member

Saban Kemal Sarac

Member

Cavit Yucel

Member

 

 

DIRECTORS

:

Sermet Hatunoglu                                                                                                                                                                                                                                                                                   

General Manager

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Manufacture, rolling and trade of iron and steel bars, iron rod, profile, angle iron and semi-products and sea port service.  

 

NACE CODE

:

DJ.27.22

 

SECTOR

:

Iron and steel

 

TRADEMARKS OWNED

:

Kroman

 

NUMBER OF EMPLOYEES

:

970

 

NET SALES

:

84.552 TL Thousand

(2000) 

175.550 TL Thousand

(2001) 

261.818 TL Thousand

(2002) 

401.743 TL Thousand

(2003) 

603.088 TL Thousand

(2004) 

575.718 TL Thousand

(2005) 

903.803 TL Thousand

(2006) 

1.244.935.024 TL

(2007) 

2.259.243.359 TL

(2008) 

1.446.711.279 TL

(2009) 

1.589.424.211 TL

(2010) 

2.379.932.286 TL

(2011) 

1.229.449.562 TL

(01.01-30.06.2012) 

 

 

IMPORT VALUE

:

98.490.000 USD

(2002)

136.000.000 USD

(2003)

153.000.000 USD

(2004)

56.200.000 USD

(2005)

353.870.000 USD

(2006)

597.990.766 USD

(2007)

1.100.739.000 USD

(2008)

550.659.856 USD

(2009)

739.321.842 USD

(2010)

382.004.140 USD

(01.01-30.06.2011)

 

 

IMPORT COUNTRIES

:

Ukraine

Romania

Germany

Belgium

Italy

 

MERCHANDISE IMPORTED

:

Machinery

Raw materials

 

 

EXPORT VALUE

:

77.110.000 USD

(2002)

131.000.000 USD

(2003)

225.015.153 TL

(2004)

144.032.526 TL

(2005)

464.984.479 TL

(2006)

722.123.221 TL

(2007)

1.556.776.937 TL

(2008)

688.319.728 TL

(2009)

467.775.803 TL

(2010)

716.222.407 TL

(2011)

418.349.859 TL

(01.01-30.06.2012)

 

 

EXPORT COUNTRIES

:

Azerbaijan

Russia

Switzerland

Cuba

Georgia

Romania

Greece

U.K.

Bulgaria

Lithuania

Turkmenistan

Free Zone

Egypt

Iraq

 

MERCHANDISE  EXPORTED

:

Iron and steel bars

Steel profiles

 

HEAD OFFICE ADDRESS

:

Emek Mah. Asiroglu Cad. No:155 Darica  Kocaeli / Turkey ( owned )

 

BRANCHES

:

Other  :  (Sea port) Tavsanli Limani Kocaeli/Turkey  (18.000 sqm)

 

Liaison Office  :  Emek Ankara/Turkey (owned) 

 

Head Office/Factory  :  Emek Mah. Asiroglu Cad. No:155 Darica Kocaeli/Turkey (owned)

 

Administrative Office  :  Rihtim Cad. No:16 Kadikoy Istanbul/Turkey (rented)          

INVESTMENTS

:

None

 

TREND OF BUSINESS

:

There was an upwards trend in  2011. There appears an upwards trend in  1.1 - 30.6.2012.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Akbank Gebze Branch

Denizbank Gebze Branch

Garanti Bankasi Kozyatagi Branch

Garanti Bankasi Kadikoy Branch

T. Is Bankasi Kadikoy Branch

T.Is Bankasi Gebze Branch

Turk Ekonomi Bankasi Kadikoy Branch

Turk Ekonomi Bankasi Gebze Branch

Yapi ve Kredi Bankasi Gebze Branch

Yapi ve Kredi Bankasi Anadolu Yakasi 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

(01.01-30.06.2012) TL

Net Sales

2.259.243.359

1.446.711.279

1.589.424.211

2.379.932.286

1.229.449.562

Profit (Loss) Before Tax

163.421.186

11.495.574

2.412.517

73.754.966

14.862.764

Stockholders' Equity

368.901.554

370.968.224

371.567.536

429.290.866

 

Total Assets

1.115.783.501

668.862.655

872.072.069

1.279.170.493

 

Current Assets

822.767.660

338.186.814

487.336.880

848.991.477

 

Non-Current Assets

293.015.841

330.675.841

384.735.189

430.179.016

 

Current Liabilities

597.468.535

165.657.067

391.931.310

694.105.378

 

Long-Term Liabilities

149.413.412

132.237.364

108.573.223

155.774.249

 

Gross Profit (loss)

275.175.605

50.884.571

30.116.993

173.275.890

27.504.036

Operating Profit (loss)

245.424.202

24.488.562

4.068.965

139.814.508

8.924.245

Net Profit (loss)

130.197.866

8.622.523

1.441.905

58.202.860

11.631.577

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Fair As of 31.12.2011

Liquidity

In Order As of 31.12.2011

Profitability

High Operating Profitability  in 2008

High Net Profitability  in 2008

Fair Operating Profitability  in 2009

Low Net Profitability  in 2009

Low Operating Profitability  in 2010

Low Net Profitability  in 2010

Good Operating Profitability  in 2011

Fair Net Profitability  in 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

Satisfactory

Remarks on General Financial Position

Recent financial figures are not available the firm declines to provide fresh financial data.

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 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

 ( 01.01-30.09.2009)

3,60 %

1,5624

2,1386

2,3953

 ( 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

 ( 01.01-30.06.2012)

1,95 %

1,8028

2,3463

2,8462

 ( 2012 )

2,45 %

1,7995

2,3265

2,8593

 ( 01.01-31.05.2013)

0,99 %

1,8079

2,3728

2,8064

 

 

BALANCE SHEETS

 

 

 ( 31.12.2008 )  TL

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

 ( 31.12.2011 )  TL

 

CURRENT ASSETS

822.767.660

0,74

338.186.814

0,51

487.336.880

0,56

848.991.477

0,66

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

Cash and Banks

627.072.844

0,56

87.077.811

0,13

60.593.030

0,07

289.700.305

0,23

Marketable Securities

0

0,00

1.600.000

0,00

4.950.000

0,01

0

0,00

Account Receivable

12.249.418

0,01

26.940.380

0,04

63.071.828

0,07

133.305.484

0,10

Other Receivable

2.690.959

0,00

5.864.687

0,01

5.875.898

0,01

2.131.963

0,00

Inventories

160.633.517

0,14

175.345.532

0,26

276.125.014

0,32

292.556.630

0,23

Advances Given

11.517.274

0,01

14.015.091

0,02

45.117.455

0,05

75.483.678

0,06

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

0

0,00

Other Current Assets

8.603.648

0,01

27.343.313

0,04

31.603.655

0,04

55.813.417

0,04

NON-CURRENT ASSETS

293.015.841

0,26

330.675.841

0,49

384.735.189

0,44

430.179.016

0,34

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Receivable

4.451

0,00

4.545

0,00

4.724

0,00

6.224

0,00

Financial Assets

3.725.718

0,00

3.529.122

0,01

3.705.031

0,00

3.705.031

0,00

Tangible Fixed Assets (net)

288.822.659

0,26

326.882.204

0,49

380.851.683

0,44

426.121.419

0,33

Intangible Assets

463.013

0,00

259.970

0,00

160.331

0,00

346.342

0,00

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

0

0,00

0

0,00

13.420

0,00

0

0,00

TOTAL ASSETS

1.115.783.501

1,00

668.862.655

1,00

872.072.069

1,00

1.279.170.493

1,00

CURRENT LIABILITIES

597.468.535

0,54

165.657.067

0,25

391.931.310

0,45

694.105.378

0,54

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

546.970.889

0,49

94.518.470

0,14

288.365.061

0,33

528.311.831

0,41

Accounts Payable

21.605.283

0,02

32.630.570

0,05

33.300.519

0,04

41.220.642

0,03

Loans from Shareholders

0

0,00

0

0,00

0

0,00

12.484

0,00

Other Short-term Payable

1.705.638

0,00

1.604.083

0,00

1.852.410

0,00

3.210.754

0,00

Advances from Customers

11.336.336

0,01

8.145.912

0,01

24.025.938

0,03

34.358.688

0,03

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

0

0,00

Taxes Payable

1.720.477

0,00

3.185.891

0,00

8.035.866

0,01

20.413.441

0,02

Provisions

4.281

0,00

57.894

0,00

981.595

0,00

1.401.486

0,00

Other Current Liabilities

14.125.631

0,01

25.514.247

0,04

35.369.921

0,04

65.176.052

0,05

LONG-TERM LIABILITIES

149.413.412

0,13

132.237.364

0,20

108.573.223

0,12

155.774.249

0,12

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

136.961.567

0,12

115.401.866

0,17

91.352.200

0,10

136.599.251

0,11

Securities Issued

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Payable

51.918

0,00

2.122.666

0,00

7.152

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

12.399.927

0,01

14.712.832

0,02

17.213.871

0,02

19.174.998

0,01

STOCKHOLDERS' EQUITY

368.901.554

0,33

370.968.224

0,55

371.567.536

0,43

429.290.866

0,34

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

0

0,00

Paid-in Capital

150.000.000

0,13

150.000.000

0,22

150.000.000

0,17

150.000.000

0,12

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

88.703.688

0,08

212.345.701

0,32

220.125.631

0,25

221.088.006

0,17

Revaluation Fund

0

0,00

0

0,00

0

0,00

0

0,00

Accumulated Losses(-)

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

130.197.866

0,12

8.622.523

0,01

1.441.905

0,00

58.202.860

0,05

TOTAL LIABILITIES AND EQUITY

1.115.783.501

1,00

668.862.655

1,00

872.072.069

1,00

1.279.170.493

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 98.435.482 of the other income is due to "Profit from Foreign Currency Exchange".                                                                                                     

At the last income statement TL 49.045.928 of the other expenses is due to "Loss from Foreign Currency Exchange" .                                                                                                                                             

 

 

INCOME STATEMENTS

 

 

(2008) TL

 

(2009) TL

 

(2010) TL

 

Net Sales

2.259.243.359

1,00

1.446.711.279

1,00

1.589.424.211

1,00

Cost of Goods Sold

1.984.067.754

0,88

1.395.826.708

0,96

1.559.307.218

0,98

Gross Profit

275.175.605

0,12

50.884.571

0,04

30.116.993

0,02

Operating Expenses

29.751.403

0,01

26.396.009

0,02

26.048.028

0,02

Operating Profit

245.424.202

0,11

24.488.562

0,02

4.068.965

0,00

Other Income

205.296.160

0,09

161.866.704

0,11

81.331.800

0,05

Other Expenses

11.718.251

0,01

6.661.554

0,00

11.085.773

0,01

Financial Expenses

275.580.925

0,12

168.198.138

0,12

71.902.475

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

163.421.186

0,07

11.495.574

0,01

2.412.517

0,00

Tax Payable

33.223.320

0,01

2.873.051

0,00

970.612

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

Net Profit (loss)

130.197.866

0,06

8.622.523

0,01

1.441.905

0,00

 

 

 

(2011) TL

 

(01.01-30.06.2012) TL

 

Net Sales

2.379.932.286

1,00

1.229.449.562

1,00

Cost of Goods Sold

2.206.656.396

0,93

1.201.945.526

0,98

Gross Profit

173.275.890

0,07

27.504.036

0,02

Operating Expenses

33.461.382

0,01

18.579.791

0,02

Operating Profit

139.814.508

0,06

8.924.245

0,01

Other Income

129.044.551

0,05

109.256.003

0,09

Other Expenses

181.129.540

0,08

55.487.793

0,05

Financial Expenses

13.974.553

0,01

47.829.691

0,04

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

73.754.966

0,03

14.862.764

0,01

Tax Payable

15.552.106

0,01

3.231.187

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

58.202.860

0,02

11.631.577

0,01

 

 

FINANCIAL RATIOS

 

 

(2008)

(2009)

(2010)

(2011)

LIQUIDITY RATIOS

 

 

Current Ratio

1,38

2,04

1,24

1,22

Acid-Test Ratio

1,07

0,73

0,34

0,61

Cash Ratio

1,05

0,54

0,17

0,42

ASSET STRUCTURE RATIOS

 

 

Inventory/Total Assets

0,14

0,26

0,32

0,23

Short-term Receivable/Total Assets

0,01

0,05

0,08

0,11

Tangible Assets/Total Assets

0,26

0,49

0,44

0,33

TURNOVER RATIOS

 

 

Inventory Turnover

12,35

7,96

5,65

7,54

Stockholders' Equity Turnover

6,12

3,90

4,28

5,54

Asset Turnover

2,02

2,16

1,82

1,86

FINANCIAL STRUCTURE

 

 

Stockholders' Equity/Total Assets

0,33

0,55

0,43

0,34

Current Liabilities/Total Assets

0,54

0,25

0,45

0,54

Financial Leverage

0,67

0,45

0,57

0,66

Gearing Percentage

2,02

0,80

1,35

1,98

PROFITABILITY RATIOS

 

 

Net Profit/Stockholders' Eq.

0,35

0,02

0,00

0,14

Operating Profit Margin

0,11

0,02

0,00

0,06

Net Profit Margin

0,06

0,01

0,00

0,02

Interest Cover

1,59

1,07

1,03

6,28

COLLECTION-PAYMENT

 

 

Average Collection Period (days)

1,95

6,70

14,29

20,17

Average Payable Period (days)

3,93

8,96

7,69

6,72

WORKING CAPITAL

225299125,00

172529747,00

95405570,00

154886099,00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.70

UK Pound

1

Rs.92.25

Euro

1

Rs.78.38

 

 

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.