MIRA INFORM REPORT

 

 

Report Date :

31.05.2014

 

IDENTIFICATION DETAILS

 

Name :

BOYTEKS TEKSTIL SANAYI VE TICARET A.S.

 

 

Registered Office :

1. Organize Sanayi Bolgesi 8. Cad No:60 Melikgazi Kayseri

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

28.08.2000

 

 

Com. Reg. No.:

23878

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer and Trader of mattress ticking, upholstery fabric, bedspread.

 

 

No of Employees :

1.150

 

 

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 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

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

 

 

 

COMPANY IDENTIFICATION

 

 

NAME

:

BOYTEKS TEKSTIL SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

1. Organize Sanayi Bolgesi 8. Cad No:60 Melikgazi Kayseri / Turkey

PHONE NUMBER

:

90-352-322 05 88 (Pbx)

 

FAX NUMBER

:

90-352-322 05 89

 

WEB-ADDRESS

:

www.boyteks.com

E-MAIL

:

info@boyteks.com

 

 

LEGAL STATUS AND HISTORY

 

 

TAX OFFICE

:

Mimar Sinan

TAX NO

:

1820154222

REGISTRATION NUMBER

:

23878

REGISTERED OFFICE

:

Kayseri Chamber of Commerce

DATE ESTABLISHED

:

28.08.2000

ESTABLISHMENT GAZETTE DATE/NO

:

11.09.2000/5128

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 25.000.000

Changed On

:

09.04.2004 (Commercial Gazette Date /Number 27.04.2004/ 6037)

Previous Registered Capital

:

TL 35.000.000

Changed On

:

15.05.2007 (Commercial Gazette Date /Number 31.05.2007/ 6820)

Previous Registered Capital

:

TL 68.000.000

Changed On

:

07.04.2014 (Commercial Gazette Date /Number 16.04.2014/ 8551)

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Boydak Holding A.S.

70 %

Haci Boydak

 

Sukru Boydak

 

Merkez Celik Sanayi ve Ticaret A.S.

 

Nazif Turkoglu

 

Mustafa Boydak (1934)

 

Yusuf Boydak

 

Memduh Boydak

 

Bekir Boydak

 

 

 

REMARKS ON SHAREHOLDERS

:

The firm has declared that, it has totally 34 shareholders.

GROUP PARENT COMPANY

:

BOYDAK HOLDING A.S.

 

SISTER COMPANIES

:

ADAKAR DAYANIKLI TUKETIM MALLARI PAZARLAMA VE TICARET A.S.

ALFA MOBEL VERTRIEBS GMBH

ANADOLU DORTLER MOBILYA VE MAGAZACILIK TICARET VE SANAYI A.S.

AT VE T KABLOLAMA SISTEMLERI SANAYI VE TICARET A.S.

BEPAS DAYANIKLI TUKETIM MALLARI PAZARLAMA A.S.

BETIM ENERJI YATIRIM URETIM VE TICARET A.S.

BIZIM MENKUL DEGERLER A.S.

BOYCELIK METAL SANAYI VE TICARET A.S.

BOYDAK DIS TICARET A.S.

BOYDAK ENERJI URETIM VE TICARET A.S.

BOYDAK HAVACILIK TASIMACILIK VE TICARET A.S.

BOYDAK HOLDING A.S.

BOYHES KABLOLAMA SISTEMLERI SANAYI VE TICARET A.S.

BOYPAS DAYANIKLI TUKETIM MALLARI PAZARLAMA A.S.

BOYSER SERVIS HIZMETLERI SANAYI VE TICARET A.S.

BOYTAS MOBILYA SANAYI VE TICARET A.S.

BOYTRANS LOJISTIK HIZMETLERI VE TICARET A.S.

DOGA DAYANIKLI TUKETIM MALLARI TICARET A.S.

ERCIYES CELIK HALAT TEL SANAYI VE TICARET A.S.

FORM SUNGER VE YATAK SANAYI TICARET A.S.

GUN GUNES ENERJISI ELEKTRIK URETIM SANAYI VE TICARET A.S.

HAVARES ELEKTRIK URETIM A.S.

HCS KABLOLAMA SISTEMLERI SANAYI VE TICARET A.S.

HES HACILAR ELEKTRIK SANAYI VE TICARET A.S.

ISPAS DAYANIKLI TUKETIM MALLARI PAZARLAMA A.S.

ISTIKBAL MOBILYA SANAYI VE TICARET A.S.

MERKEZ CELIK SANAYI VE TICARET A.S.

MONDI YATAK YORGAN SANAYI VE TICARET A.S.

MURADIYE ELEKTRIK URETIM A.S.

ORPAS PAZARLAMA A.S.

PORTAS INSAAT YATIRIMLARI TICARET VE SANAYI A.S.

SERKO TEKSTIL GIDA ORMAN URUNLERI DEMIR CELIK SANAYI VE TICARET LTD. STI.

SIBELRES ELEKTRIK URETIM A.S.

SUNSET INTERNATIONAL TRADE L.L.C.

TURKIYE FINANS KATILIM BANKASI  A.S.

 

BOARD OF DIRECTORS

:

Haci Boydak

Chairman

Yusuf Boydak

Vice-Chairman

Feti Unal

Member

Mustafa Yildirim

Member

Erol Boydak

Member

Fethi Unal

Member

Mustafa Boydak (1934)

Member

 

 

DIRECTORS

:

Mustafa Yildirim                                                                                                                                                                                                                                                                                   

General Manager

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Manufacture and trade of mattress ticking, upholstery fabric, bedspread.  The subject has declared that, it also started manufacturing of carpet on 01.08.2011.

 

 

NACE CODE

:

DB.17.40

 

 

SECTOR

:

Textile

 

 

NUMBER OF EMPLOYEES

:

1.150

 

 

NET SALES

:

18.888 TL Thousand

(2002) 

38.555 TL Thousand

(2003) 

78.981 TL Thousand

(2004) 

86.070 TL Thousand

(2005) 

116.239.725 TL

(2006) 

131.573.120 TL

(2007) 

142.036.243 TL

(2008) 

178.316.139 TL

(2009) 

227.637.993 TL

(2010) 

320.780.555 TL

(2011) 

355.919 TL Thousand

(2012) 

417.687 TL Thousand

(2013) 

 

 

 

IMPORT VALUE

:

75.000.000 USD

(2002)

18.000.000 USD

(2003)

24.048.277 USD

(2004)

16.178.053 USD

(2005)

17.000.000 USD

(2006)

25.000.000 USD

(2007)

29.002.555 USD

(2008)

27.737.000 USD

(2009)

42.446.418 USD

(2010)

56.840.000 USD

(2011)

 

 

 

IMPORT COUNTRIES

:

Germany

Belgium

India

Indonesia

China

Vietnam

Greece

 

 

MERCHANDISE IMPORTED

:

Machinery

Raw materials

Spare parts

Yarn

 

 

EXPORT VALUE

:

8.611.000 TL

(2002)

18.889.000 TL

(2003)

20.420.446 USD

(2004)

32.012.283 TL

(2005)

41.823.135 TL

(2006)

66.804.932 TL

(2007)

87.702.326 TL

(2008)

114.723.256 TL

(2009)

156.507.495 TL

(2010)

226.057.921 TL

(2011)

124.276.000 TL

(2012)

134.030.563 USD

(2013)

 

 

 

EXPORT COUNTRIES

:

Australia

Azerbaijan

Egypt

Estonia

Germany

France

Greece

Iran

Ireland

Italy

Jordan

Lebanon

Mexico

Netherlands

Poland

Romania

Russia

Spain

Thailand

Ukraine

U.K.

U.S.A.

 

 

MERCHANDISE  EXPORTED

:

Bedspreads

Fabric

Yarn

 

 

HEAD OFFICE ADDRESS

:

1. Organize Sanayi Bolgesi 8. Cad No:60 Melikgazi  Kayseri / Turkey ( owned )

 

 

BRANCHES

:

Factory  :  Organize Sanayi Bolgesi Gri Cad. 4. Sok No:1 Bursa/Turkey (owned) (23.102 sqm)

 

Factory  :   Kayseri/Turkey

 

Head Office/Factory  :  1. Organize Sanayi Bolgesi 8. Cad No:60 Melikgazi Kayseri/Turkey (owned)

                                                                                

 

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2013.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Akbank Ticari Branch

Finansbank Sanayi Branch

Garanti Bankasi Organize Sanayi Branch

T. Finans Katilim Bankasi Kayseri Branch

T. Is Bankasi Kurumsal Branch

T. Vakiflar Bankasi Merkez Branch

Yapi ve Kredi Bankasi 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

:

 

(2009) TL

(2010) TL

(2011) TL

(2012) TL Thousand

(2013) TL Thousand

Net Sales

178.316.139

227.637.993

320.780.555

355.919

417.687

Profit (Loss) Before Tax

36.717.209

39.225.491

63.876.781

68.688

84.499

Stockholders' Equity

124.555.257

156.794.707

210.486.525

274.048

341.251

Total Assets

178.115.208

233.648.554

322.822.216

352.083

395.918

Current Assets

91.045.157

119.362.914

190.981.236

206.239

210.442

Non-Current Assets

87.070.051

114.285.640

131.840.980

145.844

185.476

Current Liabilities

47.997.114

53.709.335

55.739.035

76.550

31.972

Long-Term Liabilities

5.562.837

23.144.512

56.596.656

1.485

22.695

Gross Profit (loss)

52.895.003

59.396.108

90.335.240

101.716

115.247

Operating Profit (loss)

39.685.002

41.242.563

66.539.784

67.864

88.362

Net Profit (loss)

29.166.559

32.239.450

53.691.818

57.218

76.928

 

 

COMMENT ON FINANCIAL POSITION

 

THE DETAILS OF THE CAPITAL INCREASE  AFTER LAST BALANCE SHEET

 

:

Cash Part

:

Equity Part

:82.000.000 TL

Payment Due Date

:07.04.2014

 

 

Capitalization

High

Remarks on Capitalization

There has been capital increase after the last balance sheet date. The increase is decided to be financed by equity items so the capital increase is not expected to have a positive effect on equity total.

 

Liquidity

High As of 31.12.2013

Remarks On Liquidity

The unfavorable gap between average collection and average payable period has an adverse effect on liquidity.

Profitability

High Operating Profitability  in 2009

High Net Profitability  in 2009

High Operating Profitability  in 2010

High 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

Good

 

 

 

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

 ( 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

 

 

BALANCE SHEETS

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

 ( 31.12.2011 )  TL

 

 ( 31.12.2012 )  TL Thousand

 

 ( 31.12.2013 )  TL Thousand

 

CURRENT ASSETS

91.045.157

0,51

119.362.914

0,51

190.981.236

0,59

206.239

0,59

210.442

0,53

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Cash and Banks

39.624.498

0,22

24.112.635

0,10

5.109.445

0,02

51.988

0,15

26.86

0,07

Marketable Securities

0

0,00

5.000.000

0,02

31.000.000

0,10

0

0,00

0

0,00

Account Receivable

27.394.200

0,15

39.922.117

0,17

78.509.238

0,24

83.677

0,24

111.195

0,28

Other Receivable

1.436.915

0,01

11.620.488

0,05

17.716.054

0,05

20.315

0,06

11.579

0,03

Inventories

19.914.006

0,11

25.613.358

0,11

40.610.044

0,13

39.945

0,11

49.685

0,13

Advances Given

213.252

0,00

4.521.826

0,02

4.719.624

0,01

0

0,00

0

0,00

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Current Assets

2.462.286

0,01

8.572.490

0,04

13.316.831

0,04

10.314

0,03

11.123

0,03

NON-CURRENT ASSETS

87.070.051

0,49

114.285.640

0,49

131.840.980

0,41

145.844

0,41

185.476

0,47

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

0

0,00

0

0,00

0

0,00

180

0,00

Financial Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Tangible Fixed Assets (net)

86.715.761

0,49

113.915.933

0,49

131.010.153

0,41

143.058

0,41

181.8

0,46

Intangible Assets

339.764

0,00

368.567

0,00

829.688

0,00

842

0,00

619

0,00

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

14.526

0,00

1.14

0,00

1.139

0,00

1.944

0,01

2.877

0,01

TOTAL ASSETS

178.115.208

1,00

233.648.554

1,00

322.822.216

1,00

352.083

1,00

395.918

1,00

CURRENT LIABILITIES

47.997.114

0,27

53.709.335

0,23

55.739.035

0,17

76.55

0,22

31.972

0,08

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

11.465.336

0,06

30.737.276

0,13

22.885.400

0,07

51.32

0,15

960

0,00

Accounts Payable

12.841.969

0,07

11.371.311

0,05

17.557.534

0,05

16.149

0,05

25.158

0,06

Loans from Shareholders

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Other Short-term Payable

19.298.289

0,11

1.788.997

0,01

1.542.903

0,00

2.905

0,01

2.954

0,01

Advances from Customers

858.377

0,00

1.005.312

0,00

1.941.237

0,01

0

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

696.087

0,00

925.991

0,00

846.108

0,00

2.442

0,01

0

0,00

Provisions

2.101.597

0,01

7.873.162

0,03

10.184.963

0,03

711

0,00

1.12

0,00

Other Current Liabilities

735.459

0,00

7.286

0,00

780.89

0,00

3.023

0,01

1.78

0,00

LONG-TERM LIABILITIES

5.562.837

0,03

23.144.512

0,10

56.596.656

0,18

1.485

0,00

22.695

0,06

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

1.440.203

0,01

17.975.500

0,08

49.997.000

0,15

0

0,00

21.343

0,05

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

73

0,00

0

0,00

Provisions

4.122.634

0,02

5.169.012

0,02

6.599.656

0,02

1.412

0,00

1.352

0,00

STOCKHOLDERS' EQUITY

124.555.257

0,70

156.794.707

0,67

210.486.525

0,65

274.048

0,78

341.251

0,86

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Paid-in Capital

68.000.000

0,38

68.000.000

0,29

68.000.000

0,21

68

0,19

68

0,17

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

27.388.698

0,15

56.555.257

0,24

88.794.707

0,28

148.83

0,42

196.049

0,50

Revaluation Fund

0

0,00

0

0,00

0

0,00

0

0,00

274

0,00

Accumulated Losses(-)

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

29.166.559

0,16

32.239.450

0,14

53.691.818

0,17

57.218

0,16

76.928

0,19

TOTAL LIABILITIES AND EQUITY

178.115.208

1,00

233.648.554

1,00

322.822.216

1,00

352.083

1,00

395.918

1,00

 

 

INCOME STATEMENTS

 

(2009) TL

 

(2010) TL

 

(2011) TL

 

(2012) TL Thousand

 

(2013) TL Thousand

 

Net Sales

178.316.139

1,00

227.637.993

1,00

320.780.555

1,00

355.919

1,00

417.687

1,00

Cost of Goods Sold

125.421.136

0,70

168.241.885

0,74

230.445.315

0,72

254.203

0,71

302.44

0,72

Gross Profit

52.895.003

0,30

59.396.108

0,26

90.335.240

0,28

101.716

0,29

115.247

0,28

Operating Expenses

13.210.001

0,07

18.153.545

0,08

23.795.456

0,07

33.852

0,10

26.885

0,06

Operating Profit

39.685.002

0,22

41.242.563

0,18

66.539.784

0,21

67.864

0,19

88.362

0,21

Other Income

11.533.586

0,06

12.258.940

0,05

21.843.105

0,07

890

0,00

841

0,00

Other Expenses

11.713.015

0,07

12.644.261

0,06

13.791.341

0,04

0

0,00

0

0,00

Financial Expenses

2.788.364

0,02

1.631.751

0,01

10.714.767

0,03

66

0,00

4.704

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

36.717.209

0,21

39.225.491

0,17

63.876.781

0,20

68.688

0,19

84.499

0,20

Tax Payable

7.550.650

0,04

6.986.041

0,03

10.184.963

0,03

12.584

0,04

8.258

0,02

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

1.114

0,00

687

0,00

Net Profit (loss)

29.166.559

0,16

32.239.450

0,14

53.691.818

0,17

57.218

0,16

76.928

0,18

 

 

FINANCIAL RATIOS

 

-2009

-2010

-2011

-2012

-2013

LIQUIDITY RATIOS

 

Current Ratio

1,90

2,22

3,43

2,69

6,58

Acid-Test Ratio

1,43

1,50

2,37

2,04

4,68

Cash Ratio

0,83

0,54

0,65

0,68

0,84

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,11

0,11

0,13

0,11

0,13

Short-term Receivable/Total Assets

0,16

0,22

0,30

0,30

0,31

Tangible Assets/Total Assets

0,49

0,49

0,41

0,41

0,46

TURNOVER RATIOS

 

Inventory Turnover

6,30

6,57

5,67

6,36

6,09

Stockholders' Equity Turnover

1,43

1,45

1,52

1,30

1,22

Asset Turnover

1,00

0,97

0,99

1,01

1,05

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,70

0,67

0,65

0,78

0,86

Current Liabilities/Total Assets

0,27

0,23

0,17

0,22

0,08

Financial Leverage

0,30

0,33

0,35

0,22

0,14

Gearing Percentage

0,43

0,49

0,53

0,28

0,16

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

0,23

0,21

0,26

0,21

0,23

Operating Profit Margin

0,22

0,18

0,21

0,19

0,21

Net Profit Margin

0,16

0,14

0,17

0,16

0,18

Interest Cover

14,17

25,04

6,96

1041,73

18,96

COLLECTION-PAYMENT

 

Average Collection Period (days)

55,31

63,14

88,11

84,64

95,99

Average Payable Period (days)

36,86

24,33

27,43

22,87

29,95

WORKING CAPITAL

43048043,00

65653579,00

135242201,00

129689,00

178470,00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 59.03

UK Pound

1

Rs. 98.91

Euro

1

Rs. 80.33

 

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

Report Prepared by :

DPT

 

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.