MIRA INFORM REPORT

 

 

Report Date :

20.09.2014

 

IDENTIFICATION DETAILS

 

Name :

HEMA ENDUSTRI A.S.

 

 

Registered Office :

Buyukdere Cad. Ucyol Mevkii No:235 80670 Maslak Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

1973

 

 

Com. Reg. No.:

265860

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of subordinate products to be used at automotive and agriculture sectors such as; hydraulic pumps, crank, leverage. In addition it manufactures systems to mining, aviation and defense industries

 

 

No. of Employees :

1.724

 

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

 

 

 

 

COMPANY IDENTIFICATION

 

 

NAME

:

HEMA ENDUSTRI A.S.

HEAD OFFICE ADDRESS

:

Buyukdere Cad. Ucyol Mevkii No:235 80670 Maslak Istanbul / Turkey

REMARKS ON HEAD OFFICE ADDRESS

:

The door number was changed from "No:53-55" to "No:235" by the municipality.

PHONE NUMBER

:

90-212-286 44 51 (5 lines) (Head Office)

90-282-758 10 40 (Factory)

 

FAX NUMBER

:

90-212-276 28 91 (Head Office)

90-282-758 10 84 (Factory)

 

WEB-ADDRESS

:

www.hemaendustri.com.tr

 

 

LEGAL STATUS AND HISTORY

 

 

NOTES ON LEGAL STATUS AND HISTORY

:

Change at registration no.

 

 

TAX OFFICE

:

Buyuk Mukellefler

TAX NO

:

4610031137

REGISTRATION NUMBER

:

265860

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

 

DATE ESTABLISHED

:

1973

ESTABLISHMENT GAZETTE DATE/NO

:

08.11.1973/4993

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   156.500.000

PAID-IN CAPITAL

:

TL   156.500.000

HISTORY

:

Previous Name

:

Hema Hidrolik Makina Sanayi ve Ticaret A.S.

Changed On

:

28.01.1998 (Commercial Gazette Date /Number 20.02.1998/ 4486)

Previous Registered Capital

:

TL 150.000.000

Changed On

:

25.09.2012 (Commercial Gazette Date /Number 01.10.2012/ 8164)

Other Changes

:

The subject was firstly established in Ankara and registered at Ankara Commercial Registry in 1973. Then it was moved to Istanbul and registered at Istanbul Commercial Registry.

Changed On

:

23.05.1990 (Commercial Gazette Date /Number 20.06.1990/ 2552)

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Mehmet Hattat

90 %

Hattat Sigorta Araciligi A.S.

 

Ibrahim Hattat

 

Bati Karadeniz Elektrik Uretim A.S.

 

Hema Holding A.S.

 

Hattat Holding A.S.

 

Hattat Insaat Sanayi ve Ticaret A.S.

 

Hattat Otomotiv Pazarlama A.S.

 

 

 

GROUP PARENT COMPANY

:

HATTAT HOLDING A.S.

 

SISTER COMPANIES

:

BATI KARADENIZ ELEKTRIK URETIM A.S.

HATTAT AIR TICARET VE TURIZM ISLETMELERI A.S.

HATTAT DIAMOND OF ISTANBUL TICARET A.S.

HATTAT ELEKTRIK DAGITIM PAZARLAMA A.S.

HATTAT ENERJI VE MADEN TICARET A.S.

HATTAT HOLDING A.S.

HATTAT INSAAT SANAYI VE TICARET A.S.

HATTAT KARA ELMASLAR A.S.

HATTAT OTOMOTIV PAZARLAMA A.S.

HATTAT PEARL OF ISTANBUL TURIZM TICARET A.S.

HATTAT SIGORTA ARACILIGI A.S.

HATTAT TARIM MAKINALARI SANAYI VE TICARET A.S.

HEMA DOGAL ENERJI KAYNAKLARI A.S.

HEMA ELEKTRIK URETIM A.S.

HEMA ENERJI A.S.

HEMA EXIM TICARET A.S.

HEMA HOLDING A.S.

HEMA OTOMOTIV SISTEMLERI A.S.

HEMA TRW OTOMOTIV DIREKSIYON SISTEMLERI A.S.

HM HEMA DEFENSE ENDUSTRISI A.S.

 

SUBSIDIARIES

:

HATTAT ENERJI VE MADEN TICARET A.S.

HATTAT INSAAT SANAYI VE TICARET A.S.

HATTAT TARIM MAKINALARI SANAYI VE TICARET A.S.

HEMA TRW OTOMOTIV DIREKSIYON SISTEMLERI A.S.

 

BOARD OF DIRECTORS

:

Ibrahim Hattat

Chairman

Mehmet Hattat

Member

Ilcim Hattat

Member

Halil Beyenal

Member

Ipek Hattat Hayik

Member

 

 

DIRECTORS

:

Osman Tunc Dogan                                                                                                                                                                                                                                                                                   

General Manager

Omer Iskender Ulusay                                                                                                                                                                                                                                                                                   

Deputy General Manager

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Manufacture and trade of subordinate products to be used at automotive and agriculture sectors such as; hydraulic pumps, crank, leverage. In addition it manufactures systems to mining, aviation and defense industries.

 

NACE CODE

:

DM.34.30

 

TRADEMARKS OWNED

:

Hema

 

NUMBER OF EMPLOYEES

:

1.724

 

NET SALES

:

686.915 TL

(1994) 

1.985.128 TL

(1995) 

4.276.478 TL

(1996) 

8.777.042 TL

(1997) 

14.679.450 TL

(1998) 

19.303.385 TL

(1999) 

37.803.616 TL

(2000) 

57.679.038 TL

(2001) 

87.882.781 TL

(2002) 

144.724.648 TL

(2003) 

236.108.031 TL

(2004) 

272.569.137 TL

(2005) 

243.626.035 TL

(2006) 

260.230.528 TL

(2007) 

253.646.447 TL

(2008) 

168.780.735 TL

(2009) 

273.319.595 TL

(2010) 

423.303.184 TL

(2011) 

477.294.054 TL

(2012) 

484.362 TL Thousand

(2013) 

149.179 TL Thousand

(01.01-31.03.2014) 

 

 

IMPORT COUNTRIES

:

Germany

U.K.

Sweden

Italy

U.S.A.

 

MERCHANDISE IMPORTED

:

Aluminum casting

Engine block

Steel

 

EXPORT VALUE

:

30.033.000 USD

(2003)

46.211.072 USD

(2004)

67.565.670 USD

(2005)

78.682.452 USD

(2006)

117.606.240 TL

(2007)

155.243.292 TL

(2008)

89.209.886 TL

(2009)

152.285.205 TL

(2010)

218.290.873 TL

(2011)

246.338.480 TL

(2012)

278.595.315 TL

(2013)

94.427.024 TL

(01.01-31.03.2014)

 

 

EXPORT COUNTRIES

:

Algeria

Australia

Germany

France

U.K.

U.S.A.

Czech Republic

China

Brazil

Mexico

Finland

Pakistan

India

Italy

 

MERCHANDISE  EXPORTED

:

Bolts

Brakes

Fuel pumps

Piston engine

Rivets

Rotary pumps

Screws

Transmission shafts

Valves

 

HEAD OFFICE ADDRESS

:

Buyukdere Cad. Ucyol Mevkii No:235 80670 Maslak  Istanbul / Turkey (owned by shareholder(s))

 

BRANCHES

:

Factory  :  Organize Sanayi Bolgesi 59501 Cerkezkoy Tekirdag/Turkey (owned by shareholder(s)) (705.000 sqm)

                                                                                

 

TREND OF BUSINESS

:

There was a slowdown at business volume in real terms in 2013.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Denizbank Istanbul Kurumsal Branch

T. Is Bankasi Cerkezkoy Branch

Yapi ve Kredi Bankasi Esentepe Branch

 

CREDIT FACILITIES

:

The subject company is making active use of credit facilities.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

 

KEY FINANCIAL ELEMENTS

:

 

(2010) TL

(2011) TL

(2012) TL

(2013) TL Thousand

(01.01-31.03.2014) TL Thousand

Net Sales

273.319.595

423.303.184

477.294.054

484.362

149.179

Profit (Loss) Before Tax

10.308.875

4.073.003

21.423.002

-16.351

4.875

Stockholders' Equity

238.332.556

243.287.182

269.913.237

351.791

 

Total Assets

705.969.031

885.429.380

951.374.018

1.228.467

 

Current Assets

196.041.118

258.388.854

285.710.179

421.542

 

Non-Current Assets

509.927.913

627.040.526

665.663.839

806.925

 

Current Liabilities

189.427.911

118.214.637

298.758.245

212.634

 

Long-Term Liabilities

278.208.564

523.927.561

382.702.536

664.042

 

Gross Profit (loss)

53.099.418

85.946.414

78.211.335

115.634

44.231

Operating Profit (loss)

25.259.976

47.028.557

41.856.840

78.379

36.292

Net Profit (loss)

9.966.765

4.073.003

19.242.250

-16.351

4.875

 

 

 

COMMENT ON FINANCIAL POSITION

   

Capitalization

Fair As of 31.12.2013

Remarks on Capitalization

A part of liabilities consist of loans from shareholders.

Liquidity

High As of 31.12.2013

Profitability

Good Operating Profitability  in 2010

Good Net Profitability  in 2010

High Operating Profitability  in 2011

Low Net Profitability  in 2011

Good Operating Profitability  in 2012

Good Net Profitability  in 2012

High Operating Profitability  in 2013

Net Loss  in 2013

High Operating Profitability (01.01-31.03.2014)

In Order Net Profitability (01.01-31.03.2014)

 

Gap between average collection and payable periods

Favorable in 2013

General Financial Position

Satisfactory

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 1998 )

54,30 %

0,2657

0,2967

0,4410

 ( 1999 )

62,90 %

0,4278

0,4518

0,6843

 ( 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

 ( 2013 )

6,97 %

1,9179

2,5530

3,0178

 ( 01.01-31.03.2014)

5,52 %

2,1961

3,0116

3,6488

 ( 01.01-31.08.2014)

6,33 %

2,1583

2,9382

3,6128

 

 

BALANCE SHEETS

 

 

 ( 31.12.2010 )  TL

 

 ( 31.12.2011 )  TL

 

 ( 31.12.2012 )  TL

 

 ( 31.12.2013 )  TL Thousand

 

CURRENT ASSETS

196.041.118

0,28

258.388.854

0,29

285.710.179

0,30

421.542

0,34

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

Cash and Banks

6.289.308

0,01

4.103.507

0,00

983.417

0,00

1.115

0,00

Marketable Securities

5.241.178

0,01

15.864.940

0,02

89.799.740

0,09

187.572

0,15

Account Receivable

83.229.734

0,12

83.212.026

0,09

81.198.361

0,09

124.533

0,10

Other Receivable

29.575.709

0,04

58.955.330

0,07

25.144.384

0,03

23.460

0,02

Inventories

43.862.778

0,06

63.366.147

0,07

56.687.070

0,06

69.394

0,06

Advances Given

22.595.238

0,03

27.220.889

0,03

19.315.983

0,02

12.923

0,01

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

0

0,00

Other Current Assets

5.247.173

0,01

5.666.015

0,01

12.581.224

0,01

2.545

0,00

NON-CURRENT ASSETS

509.927.913

0,72

627.040.526

0,71

665.663.839

0,70

806.925

0,66

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Receivable

59.653

0,00

74.141.001

0,08

71.213.885

0,07

90.609

0,07

Financial Assets

86.115.355

0,12

181.120.118

0,20

190.781.623

0,20

192.289

0,16

Tangible Fixed Assets (net)

422.076.922

0,60

370.789.051

0,42

398.164.765

0,42

507.940

0,41

Intangible Assets

1.224.353

0,00

946.735

0,00

5.434.792

0,01

6.442

0,01

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

451.630

0,00

43.621

0,00

68.774

0,00

9.645

0,01

TOTAL ASSETS

705.969.031

1,00

885.429.380

1,00

951.374.018

1,00

1.228.467

1,00

CURRENT LIABILITIES

189.427.911

0,27

118.214.637

0,13

298.758.245

0,31

212.634

0,17

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

131.612.418

0,19

38.384.633

0,04

179.368.038

0,19

38.466

0,03

Accounts Payable

41.247.499

0,06

57.524.890

0,06

85.942.622

0,09

98.287

0,08

Loans from Shareholders

28.910

0,00

0

0,00

15.899

0,00

55.125

0,04

Other Short-term Payable

2.962.591

0,00

3.420.738

0,00

4.088.538

0,00

4.281

0,00

Advances from Customers

7.414.035

0,01

11.324.877

0,01

7.194.296

0,01

12.876

0,01

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

0

0,00

Taxes Payable

6.076.559

0,01

7.669.862

0,01

10.290.319

0,01

3.610

0,00

Provisions

85.899

0,00

-110.363

0,00

1.641.883

0,00

-11

0,00

Other Current Liabilities

0

0,00

0

0,00

10.216.650

0,01

0

0,00

LONG-TERM LIABILITIES

278.208.564

0,39

523.927.561

0,59

382.702.536

0,40

664.042

0,54

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

65.607.799

0,09

388.009.255

0,44

337.155.094

0,35

500.721

0,41

Securities Issued

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Payable

52.082.396

0,07

54.817.076

0,06

0

0,00

76.872

0,06

Loans from Shareholders

143.205.566

0,20

63.788.427

0,07

45.547.442

0,05

86.449

0,07

Other Long-term Liabilities

17.312.803

0,02

17.312.803

0,02

0

0,00

0

0,00

Provisions

0

0,00

0

0,00

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

238.332.556

0,34

243.287.182

0,27

269.913.237

0,28

351.791

0,29

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

0

0,00

Paid-in Capital

150.000.000

0,21

150.000.000

0,17

156.500.000

0,16

156.500

0,13

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

0

0,00

Inflation Adjustment of Capital

12.028.295

0,02

12.028.295

0,01

12.028.295

0,01

12.028

0,01

Equity of Consolidated Firms

0

0,00

0

0,00

0

0,00

0

0,00

Reserves

70.375.471

0,10

75.839.072

0,09

79.912.075

0,08

119.357

0,10

Revaluation Fund

465.189

0,00

1.346.812

0,00

2.230.617

0,00

80.257

0,07

Accumulated Losses(-)

-4.503.164

-0,01

0

0,00

0

0,00

0

0,00

Net Profit (loss)

9.966.765

0,01

4.073.003

0,00

19.242.250

0,02

-16.351

-0,01

TOTAL LIABILITIES AND EQUITY

705.969.031

1,00

885.429.380

1,00

951.374.018

1,00

1.228.467

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 4.036 is "Doubtful Trade Receivables" and -TL thousand 1.816 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: 206, Due From Participations: 0, Due From Affiliated Companies: 21.299, Due From Personnel: 0, Other Miscellaneous Receivables: 1.955, Other Receivable Total: 23.460

 

TL thousand 46 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 5.027 of the other income is due to "Profit from Foreign Currency Exchange".

 

At the last income statement TL thousand 27.615 of the other expenses is due to "Loss from Foreign Currency Exchange".

 

 

 

INCOME STATEMENTS

 

 

(2010) TL

 

(2011) TL

 

(2012) TL

 

(2013) TL Thousand

 

(01.01-31.03.2014) TL Thousand

 

Net Sales

273.319.595

1,00

423.303.184

1,00

477.294.054

1,00

484.362

1,00

149.179

1,00

Cost of Goods Sold

220.220.177

0,81

337.356.770

0,80

399.082.719

0,84

368.728

0,76

104.948

0,70

Gross Profit

53.099.418

0,19

85.946.414

0,20

78.211.335

0,16

115.634

0,24

44.231

0,30

Operating Expenses

27.839.442

0,10

38.917.857

0,09

36.354.495

0,08

37.255

0,08

7.939

0,05

Operating Profit

25.259.976

0,09

47.028.557

0,11

41.856.840

0,09

78.379

0,16

36.292

0,24

Other Income

5.496.418

0,02

19.231.795

0,05

19.172.089

0,04

13.968

0,03

6.172

0,04

Other Expenses

6.815.206

0,02

42.721.217

0,10

13.695.110

0,03

82.749

0,17

27.982

0,19

Financial Expenses

13.632.313

0,05

19.466.132

0,05

25.910.817

0,05

25.949

0,05

9.607

0,06

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

10.308.875

0,04

4.073.003

0,01

21.423.002

0,04

-16.351

-0,03

4.875

0,03

Tax Payable

342.110

0,00

0

0,00

2.180.752

0,00

0

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

9.966.765

0,04

4.073.003

0,01

19.242.250

0,04

-16.351

-0,03

4.875

0,03

 

 

FINANCIAL RATIOS

 

 

(2010)

(2011)

(2012)

(2013)

LIQUIDITY RATIOS

 

 

Current Ratio

1,03

2,19

0,96

1,98

Acid-Test Ratio

0,66

1,37

0,66

1,58

Cash Ratio

0,06

0,17

0,30

0,89

ASSET STRUCTURE RATIOS

 

 

Inventory/Total Assets

0,06

0,07

0,06

0,06

Short-term Receivable/Total Assets

0,16

0,16

0,11

0,12

Tangible Assets/Total Assets

0,60

0,42

0,42

0,41

TURNOVER RATIOS

 

 

Inventory Turnover

5,02

5,32

7,04

5,31

Stockholders' Equity Turnover

1,15

1,74

1,77

1,38

Asset Turnover

0,39

0,48

0,50

0,39

FINANCIAL STRUCTURE

 

 

Stockholders' Equity/Total Assets

0,34

0,27

0,28

0,29

Current Liabilities/Total Assets

0,27

0,13

0,31

0,17

Financial Leverage

0,66

0,73

0,72

0,71

Gearing Percentage

1,96

2,64

2,52

2,49

PROFITABILITY RATIOS

 

 

Net Profit/Stockholders' Eq.

0,04

0,02

0,07

-0,05

Operating Profit Margin

0,09

0,11

0,09

0,16

Net Profit Margin

0,04

0,01

0,04

-0,03

Interest Cover

1,76

1,21

1,83

0,37

COLLECTION-PAYMENT

 

 

Average Collection Period (days)

109,70

133,82

114,96

159,90

Average Payable Period (days)

152,57

119,88

77,53

171,01

WORKING CAPITAL

6613207,00

140174217,00

-13048066,00

208908,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.80

UK Pound

1

Rs.100.06

Euro

1

Rs.78.46

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

PDT

 

               

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.