MIRA INFORM REPORT

 

 

Report Date :

30.03.2013

 

IDENTIFICATION DETAILS

 

Name :

ERK PAZARLAMA VE GIYIM SANAYI TICARET A.S.

 

 

Formerly Known As :

COLINS GIYIM SANAYI VE TICARET A.S.

 

 

Registered Office :

Zafer Mah. Cinar Sk. No:2 Kat:3  34194 Yenibosna Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

12.06.1995

 

 

Com. Reg. No.:

331393

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Trade of ready-wear. 

 

 

No. of Employees :

2.000

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

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

:

ERK PAZARLAMA VE GIYIM SANAYI TICARET A.S.

HEAD OFFICE ADDRESS

:

Zafer Mah. Cinar Sk. No:2 Kat:3  34194 Yenibosna Istanbul / Turkey

PHONE NUMBER

:

90-212-552 12 12

 

FAX NUMBER

:

90-212-451 06 60

 

WEB-ADDRESS

:

www.colins.com.tr

E-MAIL

:

info@colins.com.tr

 

LEGAL STATUS AND HISTORY

 

 

TAX OFFICE

:

Marmara Kurumlar

TAX NO

:

2110058959

REGISTRATION NUMBER

:

331393

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

12.06.1995

ESTABLISHMENT GAZETTE DATE/NO

:

19.06.1995/3809

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   93.331.000

PAID-IN CAPITAL

:

TL   93.331.000

 

HISTORY

:

Previous Name

:

Colins Giyim Sanayi ve Ticaret A.S.

Changed On

:

31.12.2001 (Commercial Gazette Date /Number 07.01.2002/ 5459)

Previous Registered Capital

:

TL 22.000.000

Changed On

:

05.12.2008 (Commercial Gazette Date /Number 17.12.2008/ 7208)

Previous Registered Capital

:

TL 50.050.000

Changed On

:

31.12.2009 (Commercial Gazette Date /Number 13.01.2010/ 7478)

Previous Registered Capital

:

TL 75.166.000

Changed On

:

09.12.2011 (Commercial Gazette Date /Number 14.12.2011/ 7961)

Merger

:

The subject took over and merged with Erk Giyim Sanayi Ic ve Dis Ticaret A.S., Erma Giyim Sanayi Ic ve Dis Ticaret A.S. and Erna Orme Tekstil Sanayi ve Ticaret A.S.

Changed On

:

05.12.2001 (Commercial Gazette Date /Number 10.12.2001/ 5442)

Merger

:

The subject took over and merged with "Erkse Tekstil Pazarlama ve Ticaret A.S."

Changed On

:

09.12.2011 (Commercial Gazette Date /Number 14.12.2011/ 7961)

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Eroglu Holding A.S.

47,88 %

Nurettin Eroglu

15,09 %

Sahin Eroglu

12,34 %

Ummet Eroglu

12,34 %

Yavuz Eroglu

12,34 %

 

 

GROUP PARENT COMPANY

:

EROGLU HOLDING A.S.

 

SISTER COMPANIES

:

AKKOM GAYRIMENKUL YONETIM VE DANISMANLIK A.S.

AKKOM MUHENDISLIK INSAAT TURIZM SANAYI VE TICARET A.S.

BETA TEKNOLOJI HIZMETLERI ENERJI SANAYI VE TICARET A.S.

BORONKAY GAYRIMENKUL YATIRIM A.S.

COLINS GMBH

DNM TEKSTIL SANAYI VE TICARET A.S.

ERCON OTO KIRALAMA VE TURIZM TICARET A.S.

ERKANER MUHENDISLIK INSAAT TAAHHUT TURIZM SANAYI VE TICARET A.S.

ERKE INSAAT SANAYI TURIZM YATIRIM VE TICARET A.S.

ERKOT MUHENDISLIK INSAAT TAAHHUT TURIZM SANAYI VE TICARET A.S.

ERKSE TEKSTIL PAZARLAMA VE TICARET A.S.

ERMA MUHENDISLIK INSAAT TAAHHUT TURIZM SANAYI VE TICARET A.S.

ERNE MUHENDISLIK TURIZM INSAAT TAAHHUT SANAYI VE TICARET A.S.

EROGLU ENERJI ELEKTRIK URETIM SANAYI VE TICARET A.S.

EROGLU GAYRIMENKUL YATIRIM GELISTIRME A.S.

EROGLU GIYIM SANAYI TICARET A.S.

EROGLU HOLDING A.S.

EROGLU YAPI INSAAT VE GAYRIMENKUL GELISTIRME SANAYI VE TICARET A.S.

ERPA HAZIR GIYIM IC VE DIS TICARET A.S.

ERS ORME TEKSTIL SANAYI VE TICARET A.S.

ERYAP MUHENDISLIK INSAAT TAAHHUT TURIZM SANAYI VE TICARET A.S.

FAREL PAZARLAMA TURIZM ISLETMECILIGI VE GIDA SANAYI TICARET LTD. STI.

FERA TEKSTIL PAZARLAMA SANAYI VE TICARET A.S.

LOFT MAGAZACILIK A.S.

NURER TEKSTIL PAZARLAMA VE TICARET A.S.

RAN DIS TICARET KOLLEKTIF SIRKETI UMMET EROGLU VE ORTAGI

SERVER TESIS YONETIM HIZMETLERI A.S.

 

SUBSIDIARIES

:

None

 

BOARD OF DIRECTORS

:

Nurettin Eroglu

Chairman

Sahin Eroglu

Vice-Chairman

Ummet Eroglu

Member

 

 

DIRECTORS

:

Ayhan Keskin                                                                                                                                                                                                                                                                                   

General Manager

Yavuz Eroglu                                                                                                                                                                                                                                                                                   

Deputy General Manager

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Trade of ready-wear.  The subject has 140 stores.

 

NACE CODE

:

G .52.42

 

SECTOR

:

Commerce

 

TRADEMARKS TRADED

:

Colin’s

 

NUMBER OF EMPLOYEES

:

2.000

 

 

NET SALES

:

30.198.069 TL

(2002) 

45.489.609 TL

(2003) 

69.489.631 TL

(2004) 

88.526.511 TL

(2005) 

125.537.113 TL

(2006) 

146.486.949 TL

(2007) 

181.561.571 TL

(2008) 

213.934.773 TL

(2009) 

256.773.915 TL

(2010) 

323.441.746 TL

(2011) 

275.860.617 TL

(01.01-30.09.2012) 

 

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

IMPORT COUNTRIES

:

China

India

Korea

Bangladesh

 

MERCHANDISE IMPORTED

:

Ready-wear

 

EXPORT VALUE

:

3.693.329 TL

(2003)

7.261.374 TL

(2004)

11.843.540 TL

(2005)

15.155.680 TL

(2006)

22.837.641 TL

(2007)

38.674.864 TL

(2008)

46.036.742 TL

(2009)

49.200.402 TL

(2010)

67.269.088 TL

(2011)

51.150.280 TL

(01.01-30.09.2012)

 

 

EXPORT COUNTRIES

:

Russia

Ukraine

Germany

France

Kazakhstan

Saudi Arabia

Slovakia

Lebanon

 

MERCHANDISE  EXPORTED

:

Ready-wear

 

HEAD OFFICE ADDRESS

:

Zafer Mah. Cinar Sk. No:2 Kat:3  34194 Yenibosna  Istanbul / Turkey ( rented )

 

BRANCHES

:

Warehouse  :  Firuzkoy Mah. Firuzkoy Bulvari No:216 Avcilar Istanbul/Turkey (rented)            

 

INVESTMENTS

:

None

 

 

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

:

Garanti Bankasi Avcilar Branch

HSBC Bank Gunesli Kurumsal Branch

ING Bank Beylikduzu Branch

T.Is Bankasi Gunesli Kurumsal Branch

Yapi ve Kredi Bankasi Gunesli 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

181.561.571

213.934.773

256.773.915

323.441.746

275.860.617

Profit (Loss) Before Tax

-6.180.959

5.212.636

208.693

1.078.523

6.441.584

Stockholders' Equity

47.549.205

75.840.912

78.089.520

97.038.231

 

Total Assets

203.721.000

207.851.102

258.916.793

321.986.235

 

Current Assets

156.256.963

145.727.877

184.952.075

230.245.088

 

Non-Current Assets

47.464.037

62.123.225

73.964.718

91.741.147

 

Current Liabilities

113.612.364

85.092.855

141.303.262

190.010.656

 

Long-Term Liabilities

42.559.431

46.917.335

39.524.011

34.937.348

 

Gross Profit (loss)

69.720.214

78.380.048

94.693.019

122.251.442

92.701.601

Operating Profit (loss)

15.349.696

13.104.170

2.123.508

22.738.875

7.161.599

Net Profit (loss)

-6.180.959

5.170.975

208.693

788.259

6.441.584

 

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Fair As of 31.12.2011

Liquidity

Good As of 31.12.2011

Profitability

Good Operating Profitability  in 2008

Net Loss  in 2008

Good Operating Profitability  in 2009

Fair Net Profitability  in 2009

Low Operating Profitability  in 2010

Low Net Profitability  in 2010

Good Operating Profitability  in 2011

Low Net Profitability  in 2011

Fair Operating Profitability (01.01-30.09.2012)

Fair Net Profitability (01.01-30.09.2012)

 

Gap between average collection and payable periods

Favorable in 2011

General Financial Position

Satisfactory

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 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

 ( 01.01-30.09.2012)

3,34 %

1,8029

2,3233

2,8527

 ( 2012 )

2,45 %

1,7995

2,3265

2,8593

 ( 01.01-28.02.2013)

-0,31 %

1,7828

2,3690

2,8041

 

BALANCE SHEETS

 

 ( 31.12.2008 )  TL

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

 ( 31.12.2011 )  TL

 

 

 

CURRENT ASSETS

156.256.963

0,77

145.727.877

0,70

184.952.075

0,71

230.245.088

0,72

 

 

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Cash and Banks

46.116.253

0,23

20.594.223

0,10

26.306.349

0,10

26.174.627

0,08

 

 

Marketable Securities

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Account Receivable

50.897.287

0,25

51.692.368

0,25

57.549.338

0,22

59.124.176

0,18

 

 

Other Receivable

310.805

0,00

4.957.999

0,02

26.154.946

0,10

74.486.064

0,23

 

 

Inventories

42.383.278

0,21

58.090.214

0,28

57.476.008

0,22

52.795.830

0,16

 

 

Advances Given

13.143.000

0,06

1.352.723

0,01

3.917.774

0,02

7.028.671

0,02

 

 

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Other Current Assets

3.406.340

0,02

9.040.350

0,04

13.547.660

0,05

10.635.720

0,03

 

 

NON-CURRENT ASSETS

47.464.037

0,23

62.123.225

0,30

73.964.718

0,29

91.741.147

0,28

 

 

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Long-term Receivable

397.348

0,00

214.652

0,00

229.788

0,00

222.838

0,00

 

 

Financial Assets

0

0,00

0

0,00

0

0,00

10.602.437

0,03

 

 

Tangible Fixed Assets (net)

34.331.632

0,17

44.318.436

0,21

50.350.734

0,19

57.738.437

0,18

 

 

Intangible Assets

11.251.764

0,06

15.443.186

0,07

22.093.809

0,09

22.209.986

0,07

 

 

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Other Non-Current Assets

1.483.293

0,01

2.146.951

0,01

1.290.387

0,00

967.449

0,00

 

 

TOTAL ASSETS

203.721.000

1,00

207.851.102

1,00

258.916.793

1,00

321.986.235

1,00

 

 

CURRENT LIABILITIES

113.612.364

0,56

85.092.855

0,41

141.303.262

0,55

190.010.656

0,59

 

 

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Financial Loans

24.282.377

0,12

30.906.869

0,15

93.685.243

0,36

141.481.500

0,44

 

 

Accounts Payable

22.842.681

0,11

45.857.413

0,22

39.264.088

0,15

40.317.105

0,13

 

 

Loans from Shareholders

4.390.191

0,02

5.245.450

0,03

259.642

0,00

2.942.605

0,01

 

 

Other Short-term Payable

31.261.255

0,15

947.537

0,00

6.415.041

0,02

2.684.379

0,01

 

 

Advances from Customers

30.042.539

0,15

995.128

0,00

219.559

0,00

304.182

0,00

 

 

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Taxes Payable

551.736

0,00

969.555

0,00

1.015.107

0,00

1.700.525

0,01

 

 

Provisions

0

0,00

592

0,00

-4.547

0,00

50.532

0,00

 

 

Other Current Liabilities

241.585

0,00

170.311

0,00

449.129

0,00

529.828

0,00

 

 

LONG-TERM LIABILITIES

42.559.431

0,21

46.917.335

0,23

39.524.011

0,15

34.937.348

0,11

 

 

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Financial Loans

42.480.032

0,21

46.917.335

0,23

39.524.011

0,15

34.937.348

0,11

 

 

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

79.399

0,00

0

0,00

0

0,00

0

0,00

 

 

Provisions

0

0,00

0

0,00

0

0,00

0

0,00

 

 

STOCKHOLDERS' EQUITY

47.549.205

0,23

75.840.912

0,36

78.089.520

0,30

97.038.231

0,30

 

 

Not Detailed Stockholders' Equity

0

0,00

0

0,00

78.089.520

0,30

0

0,00

 

 

Paid-in Capital

50.050.000

0,25

75.166.000

0,36

0

0,00

93.331.000

0,29

 

 

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

3.680.164

0,02

1.684.895

0,01

0

0,00

9.104.478

0,03

 

 

Revaluation Fund

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Accumulated Losses(-)

0

0,00

-6.180.958

-0,03

0

0,00

-6.185.506

-0,02

 

 

Net Profit (loss)

-6.180.959

-0,03

5.170.975

0,02

0

0,00

788.259

0,00

 

 

TOTAL LIABILITIES AND EQUITY

203.721.000

1,00

207.851.102

1,00

258.916.793

1,00

321.986.235

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

At the last income statement TL 19.263.130 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

181.561.571

1,00

213.934.773

1,00

256.773.915

1,00

323.441.746

1,00

275.860.617

1,00

Cost of Goods Sold

111.841.357

0,62

135.554.725

0,63

162.080.896

0,63

201.190.304

0,62

183.159.016

0,66

Gross Profit

69.720.214

0,38

78.380.048

0,37

94.693.019

0,37

122.251.442

0,38

92.701.601

0,34

Operating Expenses

54.370.518

0,30

65.275.878

0,31

92.569.511

0,36

99.512.567

0,31

85.540.002

0,31

Operating Profit

15.349.696

0,08

13.104.170

0,06

2.123.508

0,01

22.738.875

0,07

7.161.599

0,03

Other Income

28.023.234

0,15

29.247.199

0,14

34.917.814

0,14

38.540.025

0,12

33.511.049

0,12

Other Expenses

41.222.480

0,23

27.457.148

0,13

28.092.693

0,11

51.865.175

0,16

27.654.775

0,10

Financial Expenses

8.331.409

0,05

9.681.585

0,05

8.739.936

0,03

8.335.202

0,03

6.576.289

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

-6.180.959

-0,03

5.212.636

0,02

208.693

0,00

1.078.523

0,00

6.441.584

0,02

Tax Payable

0

0,00

41.661

0,00

0

0,00

290.264

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

-6.180.959

-0,03

5.170.975

0,02

208.693

0,00

788.259

0,00

6.441.584

0,02

 

FINANCIAL RATIOS

 

(2008)

(2009)

(2010)

(2011)

 

LIQUIDITY RATIOS

 

 

Current Ratio

1,38

1,71

1,31

1,21

 

Acid-Test Ratio

0,86

0,91

0,78

0,84

 

Cash Ratio

0,41

0,24

0,19

0,14

 

ASSET STRUCTURE RATIOS

 

 

Inventory/Total Assets

0,21

0,28

0,22

0,16

 

Short-term Receivable/Total Assets

0,25

0,27

0,32

0,41

 

Tangible Assets/Total Assets

0,17

0,21

0,19

0,18

 

TURNOVER RATIOS

 

 

Inventory Turnover

2,64

2,33

2,82

3,81

 

Stockholders' Equity Turnover

3,82

2,82

3,29

3,33

 

Asset Turnover

0,89

1,03

0,99

1,00

 

FINANCIAL STRUCTURE

 

 

Stockholders' Equity/Total Assets

0,23

0,36

0,30

0,30

 

Current Liabilities/Total Assets

0,56

0,41

0,55

0,59

 

Financial Leverage

0,77

0,64

0,70

0,70

 

Gearing Percentage

3,28

1,74

2,32

2,32

 

PROFITABILITY RATIOS

 

 

Net Profit/Stockholders' Eq.

-0,13

0,07

0,00

0,01

 

Operating Profit Margin

0,08

0,06

0,01

0,07

 

Net Profit Margin

-0,03

0,02

0,00

0,00

 

Interest Cover

0,26

1,54

1,02

1,13

 

COLLECTION-PAYMENT

 

 

Average Collection Period (days)

101,71

87,35

81,01

66,05

 

Average Payable Period (days)

73,53

121,79

87,21

72,14

 

WORKING CAPITAL

42644599,00

60635022,00

43648813,00

40234432,00

 

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.54.38

UK Pound

1

Rs.82.32

Euro

1

Rs.69.54

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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.