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Report Date : |
09.12.2014 |
IDENTIFICATION DETAILS
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Name : |
DELTA ELEKTRIK-ELEKTRONIK IMALAT SANAYI
TICARET LTD. STI. |
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Registered Office : |
Merkez Mah. Ladin Sok. Terziler Sit. K:6 D:613 Yenibosna Istanbul |
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Country : |
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Financials (as on) : |
2013 |
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Date of Incorporation : |
17.01.1991 |
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Com. Reg. No.: |
271880 |
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Legal Form : |
Limited Company |
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Line of Business : |
· Manufacturer and trader of regulators. Subject provides Reliable Solutions as Power Protection for
Uninterruptible Power Supply and AC Mains Regulation Solutions Subject product ranges
includes: AC Voltage Regulators/Stabilizers Uninterruptible Power Supplies (UPS) Static Transfer Switches Frequency Converters Batteries |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to part
any information from the company management.] |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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
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Source : CIA |
COMPANY IDENTIFICATION
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NAME |
: |
DELTA ELEKTRIK-ELEKTRONIK IMALAT SANAYI TICARET LTD. STI. |
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HEAD OFFICE ADDRESS |
: |
Merkez Mah. Ladin Sok. Terziler Sit. K:6 D:613 Yenibosna Istanbul / |
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PHONE NUMBER |
: |
90-212-451 46 29 90-212-639 22 73 |
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FAX NUMBER |
: |
90-212-639 22 73 |
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WEB-ADDRESS |
: |
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E-MAIL |
: |
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LEGAL STATUS AND HISTORY
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TAX OFFICE |
: |
Yenibosna |
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TAX NO |
: |
6310026520 |
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REGISTRATION NUMBER |
: |
271880 |
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REGISTERED OFFICE |
: |
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DATE ESTABLISHED |
: |
17.01.1991 |
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ESTABLISHMENT GAZETTE DATE/NO |
: |
23.01.1991/2700 |
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LEGAL FORM |
: |
Limited Company |
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TYPE OF COMPANY |
: |
Private |
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REGISTERED CAPITAL |
: |
TL 2.000.000 |
OWNERSHIP / MANAGEMENT
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SHAREHOLDERS |
: |
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SISTER COMPANIES |
: |
A ENERJI SISTEMLERI VE ELEKTRIK SANAYI TICARET LTD. STI. A1 ENERJI SISTEMLERI ELEKTRIK ELEKTRONIK SANAYI IC VE DIS TICARET LTD.
STI. DELTA ELEKTRIK ELEKTRONIK TELEKOMI TURIZM DERI TEKSTIL GIDA INSAAT DIS
TICARET LTD. STI. |
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SUBSIDIARIES |
: |
None |
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DIRECTORS |
: |
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OPERATIONS
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BUSINESS ACTIVITIES |
: |
· Manufacturer and trader of regulators. Subject provides Reliable Solutions as Power Protection for
Uninterruptible Power Supply and AC Mains Regulation Solutions |
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Product details |
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·
AC Voltage Regulators/Stabilizers Uninterruptible Power Supplies (UPS) Static Transfer Switches Frequency Converters Batteries |
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NACE CODE |
: |
DL.31.00 |
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NET SALES |
: |
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IMPORT VALUE |
: |
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EXPORT VALUE |
: |
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HEAD OFFICE ADDRESS |
: |
Merkez Mah. Ladin Sok. Terziler Sit. K:6 D:613 Yenibosna Istanbul / |
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BRANCHES |
: |
Production Plant : Beylikduzu Birlik sanayi Sitesi 5. Cad.
No:9-11-13 Istanbul/Turkey |
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TREND OF BUSINESS |
: |
There was an upwards trend in
2013. |
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SIZE OF BUSINESS |
: |
Large |
FINANCE
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MAIN DEALING BANKS |
: |
Garanti Bankasi Yenibosna Branch Yapi ve Kredi Bankasi Yenibosna Branch |
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CREDIT FACILITIES |
: |
The subject company is making use of credit facilities. |
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PAYMENT BEHAVIOUR |
: |
We are informed about a single payment delay in the last years which
was resolved later on. |
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KEY FINANCIAL ELEMENTS |
: |
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Capitalization |
Insufficient As of 31.12.2012 |
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Liquidity |
Insufficient As of 31.12.2012 |
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Remarks On Liquidity |
The favorable gap between average collection and average payable
period has a positive effect on liquidity.
The liquid assets consist mainly of receivables the amount of
cash&banks or marketable securities (which are more liquid) are low |
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Profitability |
Good Operating Profitability in
2012 Fair Net Profitability in 2012 Good Operating Profitability in
2013 Fair Net Profitability in 2013 |
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Gap between average collection and payable periods |
Favorable in 2012 |
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General Financial Position |
Passable |
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Remarks on General Financial Position |
Recent financial figures are not available the firm declines to
provide fresh financial data. |
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Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
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( 2011 ) |
13,33 % |
1,6797 |
2,3378 |
2,6863 |
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( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
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( 2013 ) |
6,97 % |
1,9179 |
2,5530 |
3,0178 |
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( 01.01-31.03.2014) |
5,52 % |
2,1961 |
3,0116 |
3,6488 |
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( 01.01-31.10.2014) |
8,22 % |
2,1739 |
2,9177 |
3,6143 |
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( 31.12.2012 ) TL Thousand |
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CURRENT ASSETS |
10.772 |
0,92 |
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Not Detailed Current Assets |
0 |
0,00 |
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Cash and Banks |
343 |
0,03 |
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Marketable Securities |
0 |
0,00 |
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Account Receivable |
4.909 |
0,42 |
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Other Receivable |
117 |
0,01 |
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Inventories |
4.799 |
0,41 |
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Advances Given |
604 |
0,05 |
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Accumulated Construction Expense |
0 |
0,00 |
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Other Current Assets |
0 |
0,00 |
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NON-CURRENT ASSETS |
924 |
0,08 |
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Not Detailed Non-Current Assets |
0 |
0,00 |
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Long-term Receivable |
11 |
0,00 |
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Financial Assets |
0 |
0,00 |
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Tangible Fixed Assets (net) |
849 |
0,07 |
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Intangible Assets |
8 |
0,00 |
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Deferred Tax Assets |
0 |
0,00 |
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Other Non-Current Assets |
56 |
0,00 |
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TOTAL ASSETS |
11.696 |
1,00 |
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CURRENT LIABILITIES |
9.445 |
0,81 |
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Not Detailed Current Liabilities |
0 |
0,00 |
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Financial Loans |
3.598 |
0,31 |
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Accounts Payable |
5.356 |
0,46 |
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Loans from Shareholders |
0 |
0,00 |
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Other Short-term Payable |
61 |
0,01 |
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Advances from Customers |
325 |
0,03 |
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Accumulated Construction Income |
0 |
0,00 |
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Taxes Payable |
38 |
0,00 |
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Provisions |
30 |
0,00 |
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Other Current Liabilities |
37 |
0,00 |
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LONG-TERM LIABILITIES |
0 |
0,00 |
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Not Detailed Long-term Liabilities |
0 |
0,00 |
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Financial Loans |
0 |
0,00 |
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Securities Issued |
0 |
0,00 |
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Long-term Payable |
0 |
0,00 |
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Loans from Shareholders |
0 |
0,00 |
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Other Long-term Liabilities |
0 |
0,00 |
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Provisions |
0 |
0,00 |
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STOCKHOLDERS' EQUITY |
2.251 |
0,19 |
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Not Detailed Stockholders' Equity |
0 |
0,00 |
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Paid-in Capital |
1.422 |
0,12 |
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Cross Shareholding Adjustment of Capital |
0 |
0,00 |
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Inflation Adjustment of Capital |
27 |
0,00 |
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Equity of Consolidated Firms |
0 |
0,00 |
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Reserves |
593 |
0,05 |
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Revaluation Fund |
0 |
0,00 |
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Accumulated Losses(-) |
0 |
0,00 |
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Net Profit (loss) |
209 |
0,02 |
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TOTAL LIABILITIES AND EQUITY |
11.696 |
1,00 |
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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. In the sub-items of "Account Receivable", TL thousand 135 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:117, Other Receivable Total:117.
TL thousand 0 of "Tax Payable" is due to "Overdue,
Delayed or Deferred Tax by Installments and Other Liabilities" at the
last balance sheet. |
INCOME STATEMENTS
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(2012) TL
Thousand |
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(2013) TL
Thousand |
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Net Sales |
11.107 |
1,00 |
14.590 |
1,00 |
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Cost of Goods Sold |
9.238 |
0,83 |
12.360 |
0,85 |
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Gross Profit |
1.869 |
0,17 |
2.230 |
0,15 |
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Operating Expenses |
1.023 |
0,09 |
1.044 |
0,07 |
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Operating Profit |
846 |
0,08 |
1.186 |
0,08 |
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Other Income |
46 |
0,00 |
25 |
0,00 |
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Other Expenses |
91 |
0,01 |
369 |
0,03 |
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Financial Expenses |
532 |
0,05 |
544 |
0,04 |
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Minority Interests |
0 |
0,00 |
0 |
0,00 |
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Profit (loss) of consolidated firms |
0 |
0,00 |
0 |
0,00 |
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Profit (loss) Before Tax |
269 |
0,02 |
298 |
0,02 |
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Tax Payable |
60 |
0,01 |
0 |
0,00 |
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Postponed Tax Gain |
0 |
0,00 |
0 |
0,00 |
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Net Profit (loss) |
209 |
0,02 |
298 |
0,02 |
FINANCIAL
RATIOS
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(2012) |
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LIQUIDITY RATIOS |
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Current Ratio |
1,14 |
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Acid-Test Ratio |
0,57 |
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Cash Ratio |
0,04 |
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ASSET STRUCTURE RATIOS |
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Inventory/Total Assets |
0,41 |
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Short-term Receivable/Total Assets |
0,43 |
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Tangible Assets/Total Assets |
0,07 |
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TURNOVER RATIOS |
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Inventory Turnover |
1,92 |
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Stockholders' Equity Turnover |
4,93 |
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Asset Turnover |
0,95 |
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FINANCIAL STRUCTURE |
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Stockholders' Equity/Total Assets |
0,19 |
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Current Liabilities/Total Assets |
0,81 |
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Financial Leverage |
0,81 |
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Gearing Percentage |
4,20 |
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PROFITABILITY RATIOS |
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Net Profit/Stockholders' Eq. |
0,09 |
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Operating Profit Margin |
0,08 |
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Net Profit Margin |
0,02 |
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Interest Cover |
1,51 |
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COLLECTION-PAYMENT |
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Average Collection Period (days) |
159,47 |
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Average Payable Period (days) |
208,72 |
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WORKING CAPITAL |
1327,00 |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
UK Pound |
1 |
Rs.96.37 |
|
Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
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 |
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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.