|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
YILDIZ DOVME CIVATA IMALAT SANAYI VE
TICARET LTD. STI. |
|
|
|
|
Formerly Known As : |
YILDIZSAN DOVME CIVATA SANAYI TICARET LTD. STI. |
|
|
|
|
Registered Office : |
Ikitelli Organize Sanayi Bolgesi Tormak Sanayi Sit. G Blok No: 14-C
Basaksehir Istanbul |
|
|
|
|
Country : |
Turkey |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
20.09.2011 |
|
|
|
|
Com. Reg. No.: |
790643 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacture and wholesale trade of bolts and nuts. |
|
|
|
|
No of Employees : |
7 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Turkey |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 3-4% in 2012-13. Turkey's public
sector debt to GDP ratio has fallen below 40%, and two rating agencies upgraded
Turkey's debt to investment grade in 2012 and 2013. Turkey remains dependent on
often volatile, short-term investment to finance its large current account
deficit. The stock value of FDI reached nearly $195 billion at year-end 2013,
reflecting Turkey's robust 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, domestic political uncertainty, and turmoil within Turkey's
neighborhood leave the economy vulnerable to destabilizing shifts in investor
confidence.
|
Source
: CIA |
|
|
||
|
NAME |
: |
YILDIZ DOVME CIVATA IMALAT SANAYI VE TICARET LTD. STI. |
|
HEAD OFFICE ADDRESS |
: |
Ikitelli Organize Sanayi Bolgesi Tormak Sanayi Sit. G Blok No: 14-C
Basaksehir Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-212-485 18 27 |
|
FAX NUMBER |
: |
90-212 485 26 09 |
|
WEB-ADDRESS |
: |
www.yildizdovme.com |
|
E-MAIL |
: |
info@yildizdovme.com |
|
|
||
|
TAX OFFICE |
: |
Ikitelli |
|
TAX NO |
: |
9650609120 |
|
REGISTRATION NUMBER |
: |
790643 |
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Industry |
|
DATE ESTABLISHED |
: |
20.09.2011 |
|
ESTABLISHMENT GAZETTE DATE/NO |
: |
26.09.2011/7907 |
|
LEGAL FORM |
: |
Limited Company |
|
TYPE OF COMPANY |
: |
Private |
|
REGISTERED CAPITAL |
: |
TL 100.000 |
|
PAID-IN CAPITAL |
: |
TL 90.000 |
|
HISTORY |
: |
|
|
|
||||||||||
|
SHAREHOLDERS |
: |
|
||||||||
|
SISTER COMPANIES |
: |
KALTEK ISKELE VE KALIP AKSESUARLARI FERRUH YILDIZ |
||||||||
|
SUBSIDIARIES |
: |
None |
||||||||
|
DIRECTORS |
: |
|
||||||||
|
|
||||||||
|
BUSINESS ACTIVITIES |
: |
Manufacture and wholesale trade of bolts and nuts. |
||||||
|
NACE CODE |
: |
DJ.28.74 |
||||||
|
NUMBER OF EMPLOYEES |
: |
7 |
||||||
|
NET SALES |
: |
|
||||||
|
IMPORT COUNTRIES |
: |
India |
||||||
|
MERCHANDISE IMPORTED |
: |
Raw materials |
||||||
|
EXPORT VALUE |
: |
|
||||||
|
HEAD OFFICE ADDRESS |
: |
Ikitelli Organize Sanayi Bolgesi Tormak Sanayi Sit. G Blok No: 14-C Basaksehir
Istanbul / Turkey |
||||||
|
BRANCHES |
: |
Head Office/Production Plant
: Ikitelli Organize Sanayi
Bolgesi Tormak Sanayi Sit. G Blok No: 14-C Basaksehir Istanbul/Turkey |
||||||
|
TREND OF BUSINESS |
: |
There was an upwards trend in
2013. |
|
SIZE OF BUSINESS |
: |
Lower-Moderate |
|
|
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|
CREDIT FACILITIES |
: |
The subject company is making use of credit facilities. |
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|
PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
KEY FINANCIAL ELEMENTS |
: |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Capitalization |
Good As of 31.12.2013 |
|
Remarks on Capitalization |
A part of total liabilities and equity consist of loans from
shareholders rather than liabilities to third parties indicating not too high
indebtedness to third parties. |
|
Liquidity |
High As of 31.12.2013 |
|
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. |
|
Profitability |
In Order Operating Profitability
in 2012 Good Net Profitability in 2012 Fair Operating Profitability in
2013 Fair Net Profitability in 2013 |
|
Gap between average collection and payable periods |
Unfavorable in 2013 |
|
General Financial Position |
Good |
|
|
Incr. in producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 2012 ) |
2,45 % |
1,7995 |
2,3265 |
2,8593 |
|
( 2013 ) |
6,97 % |
1,9179 |
2,5530 |
3,0178 |
|
( 01.01-30.04.2014) |
5,61 % |
2,1807 |
2,9954 |
3,6333 |
|
|
( 31.12.2012 ) TL |
|
( 31.12.2013 ) TL |
|
|
CURRENT ASSETS |
607.369 |
0,99 |
1.323.244 |
0,99 |
|
Not Detailed Current Assets |
0 |
0,00 |
0 |
0,00 |
|
Cash and Banks |
6.395 |
0,01 |
45.108 |
0,03 |
|
Marketable Securities |
0 |
0,00 |
0 |
0,00 |
|
Account Receivable |
425.511 |
0,69 |
1.031.135 |
0,77 |
|
Other Receivable |
785 |
0,00 |
797 |
0,00 |
|
Inventories |
166.640 |
0,27 |
190.900 |
0,14 |
|
Advances Given |
537 |
0,00 |
53.463 |
0,04 |
|
Accumulated Construction Expense |
0 |
0,00 |
0 |
0,00 |
|
Other Current Assets |
7.501 |
0,01 |
1.841 |
0,00 |
|
NON-CURRENT ASSETS |
5.145 |
0,01 |
9.966 |
0,01 |
|
Not Detailed Non-Current Assets |
0 |
0,00 |
0 |
0,00 |
|
Long-term Receivable |
0 |
0,00 |
0 |
0,00 |
|
Financial Assets |
0 |
0,00 |
0 |
0,00 |
|
Tangible Fixed Assets (net) |
5.145 |
0,01 |
9.966 |
0,01 |
|
Intangible Assets |
0 |
0,00 |
0 |
0,00 |
|
Deferred Tax Assets |
0 |
0,00 |
0 |
0,00 |
|
Other Non-Current Assets |
0 |
0,00 |
0 |
0,00 |
|
TOTAL ASSETS |
612.514 |
1,00 |
1.333.210 |
1,00 |
|
CURRENT LIABILITIES |
441.293 |
0,72 |
1.095.773 |
0,82 |
|
Not Detailed Current Liabilities |
0 |
0,00 |
0 |
0,00 |
|
Financial Loans |
19.392 |
0,03 |
108.597 |
0,08 |
|
Accounts Payable |
41.862 |
0,07 |
66.491 |
0,05 |
|
Loans from Shareholders |
366.143 |
0,60 |
868.646 |
0,65 |
|
Other Short-term Payable |
6.295 |
0,01 |
4.571 |
0,00 |
|
Advances from Customers |
246 |
0,00 |
38.780 |
0,03 |
|
Accumulated Construction Income |
0 |
0,00 |
0 |
0,00 |
|
Taxes Payable |
3.785 |
0,01 |
4.258 |
0,00 |
|
Provisions |
3.570 |
0,01 |
4.430 |
0,00 |
|
Other Current Liabilities |
0 |
0,00 |
0 |
0,00 |
|
LONG-TERM LIABILITIES |
0 |
0,00 |
0 |
0,00 |
|
Not Detailed Long-term Liabilities |
0 |
0,00 |
0 |
0,00 |
|
Financial Loans |
0 |
0,00 |
0 |
0,00 |
|
Securities Issued |
0 |
0,00 |
0 |
0,00 |
|
Long-term Payable |
0 |
0,00 |
0 |
0,00 |
|
Loans from Shareholders |
0 |
0,00 |
0 |
0,00 |
|
Other Long-term Liabilities |
0 |
0,00 |
0 |
0,00 |
|
Provisions |
0 |
0,00 |
0 |
0,00 |
|
STOCKHOLDERS' EQUITY |
171.221 |
0,28 |
237.437 |
0,18 |
|
Not Detailed Stockholders' Equity |
0 |
0,00 |
0 |
0,00 |
|
Paid-in Capital |
90.000 |
0,15 |
90.000 |
0,07 |
|
Cross Shareholding Adjustment of Capital |
0 |
0,00 |
0 |
0,00 |
|
Inflation Adjustment of Capital |
0 |
0,00 |
0 |
0,00 |
|
Equity of Consolidated Firms |
0 |
0,00 |
0 |
0,00 |
|
Reserves |
7.198 |
0,01 |
81.221 |
0,06 |
|
Revaluation Fund |
0 |
0,00 |
0 |
0,00 |
|
Accumulated Losses(-) |
0 |
0,00 |
0 |
0,00 |
|
Net Profit (loss) |
74.023 |
0,12 |
66.216 |
0,05 |
|
TOTAL LIABILITIES AND EQUITY |
612.514 |
1,00 |
1.333.210 |
1,00 |
|
|
(2012) TL |
|
(2013) TL |
|
|
Net Sales |
1.834.966 |
1,00 |
2.992.440 |
1,00 |
|
Cost of Goods Sold |
1.646.556 |
0,90 |
2.838.446 |
0,95 |
|
Gross Profit |
188.410 |
0,10 |
153.994 |
0,05 |
|
Operating Expenses |
95.411 |
0,05 |
72.372 |
0,02 |
|
Operating Profit |
92.999 |
0,05 |
81.622 |
0,03 |
|
Other Income |
5.412 |
0,00 |
13.607 |
0,00 |
|
Other Expenses |
1.031 |
0,00 |
989 |
0,00 |
|
Financial Expenses |
3.377 |
0,00 |
9.732 |
0,00 |
|
Minority Interests |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss) of consolidated firms |
0 |
0,00 |
0 |
0,00 |
|
Profit (loss) Before Tax |
94.003 |
0,05 |
84.508 |
0,03 |
|
Tax Payable |
19.980 |
0,01 |
18.292 |
0,01 |
|
Postponed Tax Gain |
0 |
0,00 |
0 |
0,00 |
|
Net Profit (loss) |
74.023 |
0,04 |
66.216 |
0,02 |
|
|
(2012) |
(2013) |
|
LIQUIDITY RATIOS |
|
|
|
Current Ratio |
1,38 |
1,21 |
|
Acid-Test Ratio |
0,98 |
0,98 |
|
Cash Ratio |
0,01 |
0,04 |
|
ASSET STRUCTURE RATIOS |
|
|
|
Inventory/Total Assets |
0,27 |
0,14 |
|
Short-term Receivable/Total Assets |
0,70 |
0,77 |
|
Tangible Assets/Total Assets |
0,01 |
0,01 |
|
TURNOVER RATIOS |
|
|
|
Inventory Turnover |
9,88 |
14,87 |
|
Stockholders' Equity Turnover |
10,72 |
12,60 |
|
Asset Turnover |
3,00 |
2,24 |
|
FINANCIAL STRUCTURE |
|
|
|
Stockholders' Equity/Total Assets |
0,28 |
0,18 |
|
Current Liabilities/Total Assets |
0,72 |
0,82 |
|
Financial Leverage |
0,72 |
0,82 |
|
Gearing Percentage |
2,58 |
4,62 |
|
PROFITABILITY RATIOS |
|
|
|
Net Profit/Stockholders' Eq. |
0,43 |
0,28 |
|
Operating Profit Margin |
0,05 |
0,03 |
|
Net Profit Margin |
0,04 |
0,02 |
|
Interest Cover |
28,84 |
9,68 |
|
COLLECTION-PAYMENT |
|
|
|
Average Collection Period (days) |
83,48 |
124,05 |
|
Average Payable Period (days) |
9,15 |
8,43 |
|
WORKING CAPITAL |
166076,00 |
227471,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SHG |
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.