|
Report Date : |
30.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
BILIM ILAC SANAYII VE TICARET A.S. |
|
|
|
|
Registered Office : |
Kaptanpasa Mah. Zincirlikuyu Cad. No:184 Beyoglu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
04.05.1961 |
|
|
|
|
Com. Reg. No.: |
79251 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture and trade of medicine. |
|
|
|
|
No. of Employees |
2.100 |
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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 3-4% 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 |
: |
BILIM ILAC SANAYII VE TICARET A.S. |
|
HEAD OFFICE ADDRESS |
: |
Kaptanpasa Mah. Zincirlikuyu Cad. No:184 Beyoglu Istanbul / Turkey |
|
PHONE NUMBER |
: |
90-212-365 15 00 (Pbx) |
|
FAX NUMBER |
: |
90-212-276 29 19 90-212-286 40 97 |
|
WEB-ADDRESS |
: |
|
|
E-MAIL |
: |
info@bilimilac.com.tr |
|
TAX OFFICE |
: |
Buyuk Mukellefler |
||||||||||||||||||||||||
|
TAX NO |
: |
1750002098 |
||||||||||||||||||||||||
|
REGISTRATION NUMBER |
: |
79251 |
||||||||||||||||||||||||
|
REGISTERED OFFICE |
: |
Istanbul Chamber of Commerce |
||||||||||||||||||||||||
|
DATE ESTABLISHED |
: |
04.05.1961 |
||||||||||||||||||||||||
|
LEGAL FORM |
: |
Joint Stock Company |
||||||||||||||||||||||||
|
TYPE OF COMPANY |
: |
Private |
||||||||||||||||||||||||
|
REGISTERED CAPITAL |
: |
TL 29.487.676,40 |
||||||||||||||||||||||||
|
HISTORY |
: |
|
|
SHAREHOLDERS |
: |
|
||||||||||||||||||||||||
|
GROUP PARENT COMPANY |
: |
BILFAR GROUP OF COMPANIES
|
||||||||||||||||||||||||
|
SISTER COMPANIES |
: |
AKTIF KOZMETIK SATIS PAZARLAMA VE DAGITIM A.S. CONSENTIS ILAC SANAYI VE TICARET LTD. STI. GENERICA ILAC SANAYI VE TICARET A.S. HUSNU ARSAN ILACLARI A.S. KAR GAYRIMENKUL GELISTIRME VE INSAAT A.S. KAR KOZMETIK URUNLER TICARET PAZARLAMA VE SANAYI A.S. KOPAS KOZMETIK PAZARLAMA VE SANAYI A.S. |
||||||||||||||||||||||||
|
BOARD OF DIRECTORS |
: |
|
||||||||||||||||||||||||
|
DIRECTORS |
: |
|
|
BUSINESS ACTIVITIES |
: |
Manufacture and trade of medicine. |
||||||||||||||||||||||||||||||||||||||
|
NACE CODE |
: |
DG.24.41 |
||||||||||||||||||||||||||||||||||||||
|
SECTOR |
: |
Chemicals |
||||||||||||||||||||||||||||||||||||||
|
NUMBER OF EMPLOYEES |
: |
2.100 |
||||||||||||||||||||||||||||||||||||||
|
NET SALES |
: |
|
||||||||||||||||||||||||||||||||||||||
|
IMPORT COUNTRIES |
: |
Italy Netherlands Spain Austria Japan India Switzerland U.S.A. |
||||||||||||||||||||||||||||||||||||||
|
MERCHANDISE IMPORTED |
: |
Raw materials of medicine Wrapping paper |
||||||||||||||||||||||||||||||||||||||
|
EXPORT VALUE |
: |
|
||||||||||||||||||||||||||||||||||||||
|
EXPORT COUNTRIES |
: |
Iraq Belgium Azerbaijan Malaysia France Yemen Netherlands Afghanistan Georgia Libya Malta U.A.E. Hong-Kong Macedonia Republic Somalia Philippines Guatamela Kenya |
||||||||||||||||||||||||||||||||||||||
|
MERCHANDISE EXPORTED |
: |
Medicine |
||||||||||||||||||||||||||||||||||||||
|
HEAD OFFICE ADDRESS |
: |
Kaptanpasa Mah. Zincirlikuyu Cad. No:184 Beyoglu Istanbul / Turkey |
||||||||||||||||||||||||||||||||||||||
|
BRANCHES |
: |
Factory : Cerkezkoy Organize Sanayi Bolgesi Cerkezkoy
Tekirdag/Turkey (owned) (22.800 sqm) Factory : Gebze Organize Sanayi Bolgesi Gebze
Kocaeli/Turkey |
|
TREND OF BUSINESS |
: |
There was a slowdown at business volume in real terms in 2013. |
|
SIZE OF BUSINESS |
: |
Giant |
|
MAIN DEALING BANKS |
: |
Akbank Istanbul Kurumsal Branch HSBC Bank Merkez Branch ING Bank Merkez Branch T. Is Bankasi Maslak Kurumsal Branch Yapi ve Kredi Bankasi Esentepe Branch |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAYMENT BEHAVIOUR |
: |
No payment delays have come to our knowledge. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
KEY FINANCIAL ELEMENTS |
: |
|
|
Capitalization |
Fair As of 31.12.2013 |
|
Profitability |
High Operating Profitability in
2012 High Net Profitability in 2012 Good Net Profitability in 2013 |
|
General Financial Position |
Fair |
|
|
Incr. in
producers’ price index |
Average USD/TL |
Average EUR/TL |
Average GBP/ TL |
|
( 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 |
|
( 2013 ) |
6,97 % |
1,9179 |
2,5530 |
3,0178 |
|
( 01.01-31.07.2014) |
5,89 % |
2,1578 |
2,9492 |
3,6152 |
|
|
( 31.12.2012 ) TL Thousand |
|
|
CURRENT ASSETS |
328.629 |
0,60 |
|
Not Detailed Current Assets |
0 |
0,00 |
|
Cash and Banks |
6.988 |
0,01 |
|
Marketable Securities |
0 |
0,00 |
|
Account Receivable |
247.620 |
0,45 |
|
Other Receivable |
1 |
0,00 |
|
Inventories |
65.221 |
0,12 |
|
Advances Given |
381 |
0,00 |
|
Accumulated Construction Expense |
0 |
0,00 |
|
Other Current Assets |
8.418 |
0,02 |
|
NON-CURRENT ASSETS |
219.803 |
0,40 |
|
Not Detailed Non-Current Assets |
0 |
0,00 |
|
Long-term Receivable |
52 |
0,00 |
|
Financial Assets |
392 |
0,00 |
|
Tangible Fixed Assets (net) |
201.159 |
0,37 |
|
Intangible Assets |
18.170 |
0,03 |
|
Deferred Tax Assets |
0 |
0,00 |
|
Other Non-Current Assets |
30 |
0,00 |
|
TOTAL ASSETS |
548.432 |
1,00 |
|
CURRENT LIABILITIES |
89.959 |
0,16 |
|
Not Detailed Current Liabilities |
0 |
0,00 |
|
Financial Loans |
32.287 |
0,06 |
|
Accounts Payable |
41.003 |
0,07 |
|
Loans from Shareholders |
141 |
0,00 |
|
Other Short-term Payable |
609 |
0,00 |
|
Advances from Customers |
435 |
0,00 |
|
Accumulated Construction Income |
0 |
0,00 |
|
Taxes Payable |
11.765 |
0,02 |
|
Provisions |
3.598 |
0,01 |
|
Other Current Liabilities |
121 |
0,00 |
|
LONG-TERM LIABILITIES |
101.512 |
0,19 |
|
Not Detailed Long-term Liabilities |
0 |
0,00 |
|
Financial Loans |
84.350 |
0,15 |
|
Securities Issued |
0 |
0,00 |
|
Long-term Payable |
0 |
0,00 |
|
Loans from Shareholders |
0 |
0,00 |
|
Other Long-term Liabilities |
0 |
0,00 |
|
Provisions |
17.162 |
0,03 |
|
STOCKHOLDERS' EQUITY |
356.961 |
0,65 |
|
Not Detailed Stockholders' Equity |
0 |
0,00 |
|
Paid-in Capital |
29.000 |
0,05 |
|
Cross Shareholding Adjustment of Capital |
0 |
0,00 |
|
Inflation Adjustment of Capital |
32.546 |
0,06 |
|
Equity of Consolidated Firms |
0 |
0,00 |
|
Reserves |
229.681 |
0,42 |
|
Revaluation Fund |
0 |
0,00 |
|
Accumulated Losses(-) |
0 |
0,00 |
|
Net Profit (loss) |
65.734 |
0,12 |
|
TOTAL LIABILITIES AND EQUITY |
548.432 |
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. In the sub-items of "Account Receivable", TL thousand 1.056
is "Doubtful Trade Receivables" and -TL thousand 1.056 is
"Provision for 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. At the last income statement TL
thousand 22.526 of the other income is due to "Profit from Foreign
Currency Exchange". |
|
|
(2012) TL
Thousand |
|
|
Net Sales |
587.716 |
1,00 |
|
Cost of Goods Sold |
289.540 |
0,49 |
|
Gross Profit |
298.176 |
0,51 |
|
Operating Expenses |
218.560 |
0,37 |
|
Operating Profit |
79.616 |
0,14 |
|
Other Income |
38.814 |
0,07 |
|
Other Expenses |
19.730 |
0,03 |
|
Financial Expenses |
19.879 |
0,03 |
|
Minority Interests |
0 |
0,00 |
|
Profit (loss) of consolidated firms |
0 |
0,00 |
|
Profit (loss) Before Tax |
78.821 |
0,13 |
|
Tax Payable |
13.087 |
0,02 |
|
Postponed Tax Gain |
0 |
0,00 |
|
Net Profit (loss) |
65.734 |
0,11 |
|
|
(2012) |
|
LIQUIDITY RATIOS |
|
|
Current Ratio |
3,65 |
|
Acid-Test Ratio |
2,83 |
|
Cash Ratio |
0,08 |
|
ASSET STRUCTURE RATIOS |
|
|
Inventory/Total Assets |
0,12 |
|
Short-term Receivable/Total Assets |
0,45 |
|
Tangible Assets/Total Assets |
0,37 |
|
TURNOVER RATIOS |
|
|
Inventory Turnover |
4,44 |
|
Stockholders' Equity Turnover |
1,65 |
|
Asset Turnover |
1,07 |
|
FINANCIAL STRUCTURE |
|
|
Stockholders' Equity/Total Assets |
0,65 |
|
Current Liabilities/Total Assets |
0,16 |
|
Financial Leverage |
0,35 |
|
Gearing Percentage |
0,54 |
|
PROFITABILITY RATIOS |
|
|
Net Profit/Stockholders' Eq. |
0,18 |
|
Operating Profit Margin |
0,14 |
|
Net Profit Margin |
0,11 |
|
Interest Cover |
4,97 |
|
COLLECTION-PAYMENT |
|
|
Average Collection Period (days) |
151,71 |
|
Average Payable Period (days) |
50,98 |
|
WORKING CAPITAL |
238670,00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
UK Pound |
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SDA |
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.