|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
CUKUROVA KIMYA ENDUSTRISI A.S. |
|
|
|
|
Registered Office : |
Organize Sanayi Bolgesi 50.Yil Cad. No: 10 Manisa |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Year of Establishment |
1977 |
|
|
|
|
Com. Reg. No.: |
3182 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer and Trader of Chemicals |
|
|
|
|
No. of Employees |
180 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 around 9% in
2010-11, as exports returned to normal levels following the recession. Growth
dropped to roughly 3% in 2012-13. Turkey's public sector debt to GDP ratio has
fallen below 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 reached nearly $195 billion at year-end 2013, reflecting Turkey's good
growth even in the face of 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 |
|
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 SPOR YAYINCILIK
SANAYI VE TICARET A.S. AKSAM DENIZCILIK VE
TICARET A.S. AKSAM HABER AJANSI A.S. ALEM RADYO VE
TELEVIZYON YAYINCILIK TICARET A.S. ANADOLU ULUSLARARASI
TICARET VE TASIMACILIK A.S. ARTRON TASARIM URETIM
ELEKTRONIK TICARET A.S. A-TEL PAZARLAMA VE
SERVIS HIZMETLERI A.S. ATKASAN ATIK
DEGERLENDIRME SANAYI VE TICARET A.S. AVOR INSAAT GIDA
TEKSTIL KIMYA SANAYI VE TICARET A.S. BANQUE DE COMMERCE ET
DE PLACEMENTS S.A. BATI DENIZCILIK
ISLETMESI A.S. BAYTUR AL INMAA JSC BAYTUR GAYRIMENKUL
YATIRIM PAZARLAMA A.S. BAYTUR INSAAT TAAHHUT
A.S. BELTEL TELEKOMUNIKASYON
HIZMETLERI A.S. BILISIM RADYO
TELEVIZYON YAYINCILIK SANAYI VE TICARET A.S. BILYONER INTERAKTIF
HIZMETLER A.S. CANKAYA DOGALGAZ
DAGITIM A.S. CLOSED JOINT-STOCK
COMPANY BELARUSSIAN TELECOMMUNICATIONS NETWORK COMAG ITHALAT IHRACAT
MADEN SANAYI TICARET VE YATIRIM 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. CUMITAS ARGE
MUHENDISLIK BILISIM YAZILIM DANISMANLIK SANAYI VE TICARET LTD. STI. DAUSSAN CUKUROVA KIMYA
DOKUM REFRAKTER MALZEMELERI SANAYI VE TICARET A.S. DEMIR TOPRAK ITHALAT
IHRACAT VE TICARET A.S. DIGITAL PLATFORM
TEKNOLOJI HIZMETLERI A.S. DIGITURK HOLDINGS N.V. DOST ILETISIM VE
PRODUKSIYON A.S. E.T.H. EUROPEAN
TELECOMMUNICATION HOLDING AG EAST ASIAN CONSORTIUM
B.V. 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. 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 YATIRIM A.S. GEOCELL LLC GIDA SANAYI VE TICARET
A.S. GLOBAL BILGI PAZARLAMA
DANISMA VE CAGRI SERVISI HIZMETLERI A.S. GLOBAL ODEME SISTEMLERI
A.S. GUCUM ZIRAI ISLETMELERI
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. KAPLAMIN AMBALAJ SANAYI
VE TICARET A.S. KARAMKO IMALAT ZIRAAT
ENDUSTRI VE TICARET A.S. KAROVA MEDYA SANAYI VE
TICARET A.S. KIBRIS MOBILE
TELEKOMUNIKASYON LTD. KREA ICERIK HIZMETLERI
VE PRODUKSIYON A.S. KULE HIZMET VE
ISLETMECILIK A.S. KURTSON MADEN VE SANAYI
ISLETMELERI A.S. KVK ILETISIM DIS
TICARET A.S. KVK MOBIL TELEFON
SISTEMLERI TICARET A.S. KVK TEKNIK SERVIS
HIZMETLERI VE TICARET A.S. KVK TEKNOLOJI URUNLERI
VE TICARET A.S. KVK YATIRIM HOLDING
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. MILLENICOM GMBH MILLENICOM
TELEKOMUNIKASYON HIZMETLERI A.S. MKMS ENERJI A.S. MMEKA BASKENT DOGALGAZ
DAGITIM A.S. MMEKA MAKINE ITHALAT PAZARLAMA
VE TICARET A.S. MTM HABER YATIRIM VE
TICARET A.S. NOKSEL CELIK BORU
SANAYI A.S. ORUC REIS DENIZCILIK
ISLETMESI A.S. OVA OLUKLU MUKAVVA
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. POZITRON MEDYA HOLDING
A.S. PREVEZE BEYNELMILEL
NAKLIYAT A.S. SANS OYUNLARI VE
TEKNOLOJI A.S. SELKASAN KAGIT VE
PAKETLEME MALZEMELERI IMALATI SAN. VE TIC. 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. T MEDYA BASKI
TEKNOLOJILERI A.S. T MEDYA MAGAZIN
YAYINCILIK SAN. VE TIC. A.S. T MEDYA PAZARLAMA VE DIS
TICARET A.S. T MEDYA TELEVIZYON VE
YAYINCILIK A.S. TALIH KUSU ALTYAPI
HIZMETLERI A.S. TANA TELEVIZYON
YAYINCILIK 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 INTERAKTIF
DIJITAL PLATFORM VE ICERIK HIZMETLERI A.S. TURKCELL TEKNOLOJI
ARASTIRMA VE GELISTIRME A.S. TURKTELL BILISIM
SERVISLERI A.S. TURKTELL ULUSLARARASI
YATIRIM HOLDING A.S. YALOVA AMBALAJ SANAYI
VE TICARET A.S. 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. SELKASAN KAGIT VE
PAKETLEME A.S. |
||||||||||||||||||
|
BOARD OF DIRECTORS |
: |
|
||||||||||||||||||
|
DIRECTORS |
: |
|
|
BUSINESS ACTIVITIES |
: |
Manufacture and trade of chemicals. |
||||||||||||||||||||||||||||
|
NACE CODE |
: |
DG.24.00 |
||||||||||||||||||||||||||||
|
SECTOR |
: |
Chemical |
||||||||||||||||||||||||||||
|
NUMBER OF EMPLOYEES |
: |
180 |
||||||||||||||||||||||||||||
|
NET SALES |
: |
|
|
IMPORT VALUE |
: |
|
||||||||||||||||||||||||||||||
|
IMPORT COUNTRIES |
: |
Netherlands Germany U.K. Switzerland China |
||||||||||||||||||||||||||||||
|
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) |
|
TREND OF BUSINESS |
: |
Trend of business was steady in 2013. |
|
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 31.12.2013 |
|
Liquidity |
Satisfactory As of
31.12.2013 |
|
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 |
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 in 2012 High Net Profitability in 2012 High Operating
Profitability in 2013 High Net Profitability in 2013 |
|
Gap between average collection and payable periods |
Unfavorable in 2013 |
|
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 |
|
( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
|
(01.01-30.06.2013) |
2,46 % |
1,8251 |
2,3936 |
2,8262 |
|
( 2013 ) |
6,97 % |
1,9179 |
2,5530 |
3,0178 |
|
(01.01-31.03.2014) |
5,52 % |
2,1961 |
3,0116 |
3,6488 |
|
|
( 31.12.2009 ) TL |
|
( 31.12.2010 ) TL |
|
( 31.12.2011 ) TL |
|
( 31.12.2012 ) TL |
|
( 31.12.2013 ) TL Thousand |
|
|
CURRENT ASSETS |
23.242.421 |
0,64 |
28.031.962 |
0,67 |
41.189.995 |
0,74 |
44.007.915 |
0,72 |
52.397 |
0,76 |
|
Not Detailed Current Assets |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Cash and Banks |
1.205.113 |
0,03 |
444.792 |
0,01 |
760.193 |
0,01 |
1.159.820 |
0,02 |
1.716 |
0,02 |
|
Marketable Securities |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Account Receivable |
15.165.904 |
0,42 |
20.405.628 |
0,49 |
30.693.404 |
0,55 |
29.201.103 |
0,48 |
38.075 |
0,55 |
|
Other Receivable |
0 |
0,00 |
8.539 |
0,00 |
109 |
0,00 |
7.170 |
0,00 |
1 |
0,00 |
|
Inventories |
6.633.606 |
0,18 |
6.976.267 |
0,17 |
9.610.699 |
0,17 |
13.268.965 |
0,22 |
11.973 |
0,17 |
|
Advances Given |
221.289 |
0,01 |
20.323 |
0,00 |
34.900 |
0,00 |
296.793 |
0,00 |
594 |
0,01 |
|
Accumulated Construction Expense |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Other Current Assets |
16.509 |
0,00 |
176.413 |
0,00 |
90.690 |
0,00 |
74.064 |
0,00 |
38 |
0,00 |
|
NON-CURRENT ASSETS |
13.071.177 |
0,36 |
13.501.189 |
0,33 |
14.804.858 |
0,26 |
16.929.421 |
0,28 |
16.850 |
0,24 |
|
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 |
3.700 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Financial Assets |
2.715.868 |
0,07 |
3.215.868 |
0,08 |
4.360.868 |
0,08 |
5.560.868 |
0,09 |
5.561 |
0,08 |
|
Tangible Fixed Assets (net) |
10.294.013 |
0,28 |
10.253.192 |
0,25 |
10.435.211 |
0,19 |
11.364.114 |
0,19 |
11.210 |
0,16 |
|
Intangible Assets |
25.377 |
0,00 |
28.429 |
0,00 |
8.779 |
0,00 |
4.439 |
0,00 |
24 |
0,00 |
|
Deferred Tax Assets |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Other Non-Current Assets |
35.919 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
55 |
0,00 |
|
TOTAL ASSETS |
36.313.598 |
1,00 |
41.533.151 |
1,00 |
55.994.853 |
1,00 |
60.937.336 |
1,00 |
69.247 |
1,00 |
|
CURRENT LIABILITIES |
9.142.125 |
0,25 |
12.710.014 |
0,31 |
19.158.090 |
0,34 |
17.915.144 |
0,29 |
20.587 |
0,30 |
|
Not Detailed Current Liabilities |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Financial Loans |
3.365.778 |
0,09 |
3.582.116 |
0,09 |
6.225.000 |
0,11 |
5.864.551 |
0,10 |
6.500 |
0,09 |
|
Accounts Payable |
4.951.649 |
0,14 |
8.569.579 |
0,21 |
11.368.545 |
0,20 |
10.748.459 |
0,18 |
12.602 |
0,18 |
|
Loans from Shareholders |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Other Short-term Payable |
1.208 |
0,00 |
1.013 |
0,00 |
4.520 |
0,00 |
3.135 |
0,00 |
24 |
0,00 |
|
Advances from Customers |
12.130 |
0,00 |
103.092 |
0,00 |
0 |
0,00 |
6.729 |
0,00 |
0 |
0,00 |
|
Accumulated Construction Income |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Taxes Payable |
367.529 |
0,01 |
324.049 |
0,01 |
1.203.287 |
0,02 |
1.099.025 |
0,02 |
1.071 |
0,02 |
|
Provisions |
427.322 |
0,01 |
116.192 |
0,00 |
308.759 |
0,01 |
193.245 |
0,00 |
351 |
0,01 |
|
Other Current Liabilities |
16.509 |
0,00 |
13.973 |
0,00 |
47.979 |
0,00 |
0 |
0,00 |
39 |
0,00 |
|
LONG-TERM LIABILITIES |
1.173.113 |
0,03 |
1.165.862 |
0,03 |
1.754.424 |
0,03 |
2.095.175 |
0,03 |
2.514 |
0,04 |
|
Not Detailed Long-term Liabilities |
0 |
0,00 |
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 |
0 |
0,00 |
|
Securities Issued |
0 |
0,00 |
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 |
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 |
1.173.113 |
0,03 |
1.165.862 |
0,03 |
1.754.424 |
0,03 |
2.095.175 |
0,03 |
2.514 |
0,04 |
|
STOCKHOLDERS' EQUITY |
25.998.360 |
0,72 |
27.657.275 |
0,67 |
35.082.339 |
0,63 |
40.927.017 |
0,67 |
46.146 |
0,67 |
|
Not Detailed Stockholders' Equity |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Paid-in Capital |
18.435.000 |
0,51 |
18.435.000 |
0,44 |
18.435.000 |
0,33 |
18.435.000 |
0,30 |
18.435 |
0,27 |
|
Cross Shareholding Adjustment of Capital |
0 |
0,00 |
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 |
0 |
0,00 |
|
Equity of Consolidated Firms |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Reserves |
8.609.423 |
0,24 |
8.609.423 |
0,21 |
9.222.275 |
0,16 |
16.647.339 |
0,27 |
22.493 |
0,32 |
|
Revaluation Fund |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Accumulated Losses(-) |
0 |
0,00 |
-1.046.063 |
-0,03 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Net Profit (loss) |
-1.046.063 |
-0,03 |
1.658.915 |
0,04 |
7.425.064 |
0,13 |
5.844.678 |
0,10 |
5.218 |
0,08 |
|
TOTAL LIABILITIES AND EQUITY |
36.313.598 |
1,00 |
41.533.151 |
1,00 |
55.994.853 |
1,00 |
60.937.336 |
1,00 |
69.247 |
1,00 |
|
REMARKS ON FINANCIAL STATEMENT |
: |
The financial statements of 2013 have not become certain yet. 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. In the sub-items of "Account Receivable", TL thousand 0 is "Doubtful Trade Receivables" at the last balance sheet. The details of "Other Receivable" figure at the last balance sheet (TL Thousand): Due From Shareholders: 0, Due From Participations: 0, Due From Affiliated Companies: 0, Due From Personnel: 0, Other Miscellaneous Receivables: 1, Other Receivable Total: 1. TL thousand 0 of "Tax Payable" is due to "Overdue, Delayed or Deferred Tax by Installments and Other Liabilities" at the last balance sheet. |
|
|
(2009) TL |
|
(2010) TL |
|
(2011) TL |
|
(2012) TL |
|
(2013) TL Thousand |
|
|
Net Sales |
43.136.543 |
1,00 |
55.981.862 |
1,00 |
82.536.954 |
1,00 |
81.132.035 |
1,00 |
87.575 |
1,00 |
|
Cost of Goods Sold |
34.127.343 |
0,79 |
46.827.369 |
0,84 |
63.426.051 |
0,77 |
64.292.504 |
0,79 |
70.440 |
0,80 |
|
Gross Profit |
9.009.200 |
0,21 |
9.154.493 |
0,16 |
19.110.903 |
0,23 |
16.839.531 |
0,21 |
17.135 |
0,20 |
|
Operating Expenses |
5.369.090 |
0,12 |
6.321.472 |
0,11 |
6.752.386 |
0,08 |
8.087.155 |
0,10 |
8.447 |
0,10 |
|
Operating Profit |
3.640.110 |
0,08 |
2.833.021 |
0,05 |
12.358.517 |
0,15 |
8.752.376 |
0,11 |
8.688 |
0,10 |
|
Other Income |
969.496 |
0,02 |
1.123.720 |
0,02 |
1.426.065 |
0,02 |
1.178.178 |
0,01 |
1.151 |
0,01 |
|
Other Expenses |
4.620.769 |
0,11 |
1.446.021 |
0,03 |
3.675.535 |
0,04 |
1.529.378 |
0,02 |
2.357 |
0,03 |
|
Financial Expenses |
417.460 |
0,01 |
423.711 |
0,01 |
654.904 |
0,01 |
944.717 |
0,01 |
827 |
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 |
-428.623 |
-0,01 |
2.087.009 |
0,04 |
9.454.143 |
0,11 |
7.456.459 |
0,09 |
6.655 |
0,08 |
|
Tax Payable |
617.440 |
0,01 |
428.094 |
0,01 |
2.029.079 |
0,02 |
1.611.781 |
0,02 |
1.437 |
0,02 |
|
Postponed Tax Gain |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
0 |
0,00 |
|
Net Profit (loss) |
-1.046.063 |
-0,02 |
1.658.915 |
0,03 |
7.425.064 |
0,09 |
5.844.678 |
0,07 |
5.218 |
0,06 |
|
|
(2009) |
(2010) |
(2011) |
(2012) |
(2013) |
|
LIQUIDITY RATIOS |
|
||||
|
Current Ratio |
2,54 |
2,21 |
2,15 |
2,46 |
2,55 |
|
Acid-Test Ratio |
1,79 |
1,64 |
1,64 |
1,70 |
1,93 |
|
Cash Ratio |
0,13 |
0,03 |
0,04 |
0,06 |
0,08 |
|
ASSET STRUCTURE RATIOS |
|
||||
|
Inventory/Total Assets |
0,18 |
0,17 |
0,17 |
0,22 |
0,17 |
|
Short-term Receivable/Total Assets |
0,42 |
0,49 |
0,55 |
0,48 |
0,55 |
|
Tangible Assets/Total Assets |
0,28 |
0,25 |
0,19 |
0,19 |
0,16 |
|
TURNOVER RATIOS |
|
||||
|
Inventory Turnover |
5,14 |
6,71 |
6,60 |
4,85 |
5,88 |
|
Stockholders' Equity Turnover |
1,66 |
2,02 |
2,35 |
1,98 |
1,90 |
|
Asset Turnover |
1,19 |
1,35 |
1,47 |
1,33 |
1,26 |
|
FINANCIAL STRUCTURE |
|
||||
|
Stockholders' Equity/Total Assets |
0,72 |
0,67 |
0,63 |
0,67 |
0,67 |
|
Current Liabilities/Total Assets |
0,25 |
0,31 |
0,34 |
0,29 |
0,30 |
|
Financial Leverage |
0,28 |
0,33 |
0,37 |
0,33 |
0,33 |
|
Gearing Percentage |
0,40 |
0,50 |
0,60 |
0,49 |
0,50 |
|
PROFITABILITY RATIOS |
|
||||
|
Net Profit/Stockholders' Eq. |
-0,04 |
0,06 |
0,21 |
0,14 |
0,11 |
|
Operating Profit Margin |
0,08 |
0,05 |
0,15 |
0,11 |
0,10 |
|
Net Profit Margin |
-0,02 |
0,03 |
0,09 |
0,07 |
0,06 |
|
Interest Cover |
-0,03 |
5,93 |
15,44 |
8,89 |
9,05 |
|
COLLECTION-PAYMENT |
|
||||
|
Average Collection Period (days) |
126,57 |
131,25 |
133,87 |
129,57 |
156,52 |
|
Average Payable Period (days) |
52,23 |
65,88 |
64,53 |
60,19 |
64,41 |
|
WORKING CAPITAL |
14100296,00 |
15321948,00 |
22031905,00 |
26092771,00 |
31810,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.27 |
|
|
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.