MIRA
INFORM REPORT
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Report Date : |
22nd
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
CHIRAG DIAMONDS BVBA |
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Registered Office : |
286120, Antwerpen |
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Country : |
Belgium |
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Financial (as on) : |
31-12-2004 |
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Date of Incorporation : |
06.11.1991 |
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Legal Form : |
Private limited company |
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Line of Business : |
Trade in diamonds; import and export of unpolished and polished diamonds. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
Chirag
Diamonds Bvba
Legal status
Private
limited company
Founded
06.11.1991
Trade register
286120,
Antwerpen
Capital
Nominal EUR 19.000,-
Issued
and paid up EUR 19.000,-
Management
Dhamelia
Mohanlal
Savani
Himmatbhai
Activity
Trade
in diamonds; import and export of unpolished and polished diamonds.
Staff
1
employee.
Turnover
Net
turnover:
2001
EUR 39.536.018,-
2002
EUR 59.317.995,-
2003
EUR 39.502.007,-
2004
EUR 40.150.992,-
Real estate
The
business premises at the mentioned address has been rented by the company, as
far as we know.
Finances
See
balance sheet
Remarks
Net
result:
2001
EUR 158.354,-
2002
EUR 200.000,-
2003
EUR 182.995,-
2004
EUR 117.997,-
The
shareholders' equity was as of:
31.12.2001
EUR 201.612,-
31.12.2002
EUR 206.991,-
31.12.2003
EUR 314.998,-
31.12.2004
EUR 358.008,-
The
working capital was as of:
31.12.2001
EUR 207.239,-
31.12.2002
EUR 199.008,-
31.12.2003
EUR 291.994,-
31.12.2004
EUR 320.006,-
Main shareholders
Mohanlal
Dhamelia and Himmathbhai Savani
Address
till December 1995:
Hoveniersstraat
2, 2018 ANTWERP
Bankers
ABN-AMRO
NV, 674-5254229-38.
VAT-nr.
BE445449239
Mode of payment
Within
terms
Credit demand
No
objections against entering into a business relationship.
The
following financial data is retrieved from the corporate balance sheet of :
Chirag
Diamonds Bvba
Hoveniersstraat
2, 2018 ANTWERPEN
Trade
register 286120, Antwerpen
------------------------------------------------------------------------
Chirag Diamonds Bvba *** BALANCE SHEET
***
Corporate
in
Euro Euro
(x
1) (x 1)
-----31-12-2003----- -----31-12-2004-----
Intangible assets 0 0
Tangible assets 247.001 235.995
Financial assets 0 0
Miscellaneous fixed assets 0 0
Total fixed assets 247.001 235.995
Stock 5.648.006 6.578.995
Receivables 9.885.002
8.570.001
Shares 44.993 37.011
Liquid assets 826.998 2.371.994
Miscellaneous current assets 0 0
Total current assets 16.404.999 17.558.001
Shareholders' equity 314.998 358.008
Provisions 0 0
Long-term liabilities 223.997 197.993
Current liabilities 16.113.005 17.237.995
Minority interests 0 0
Miscellaneous liabilities 0 0
Total liabilities 16.652.000 17.793.996
------------------------------------------------------------------------
------------------------------------------------------------------------
Chirag Diamonds Bvba *** PROFIT & LOSS ACCOUNT
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Corporate
in
Euro Euro
(x 1) (x 1)
-----31-12-2003----- -----31-12-2004-----
Turnover 39.502.007 40.150.992
Other income 3.000 3.000
Total expenses 39.496.007 39.819.979
Operating profit 8.999 334.012
Balance financial P/L 194.994 -233.987
Net profit/loss 1) 203.992 100.000
Taxation 20.997 -17.997
Share in P/L of subsidiaries 0 0
Net profit/loss 2) 182.995 117.997
Balance extraordinary P/L 0 0
Taxation 0 0
Extraordinary P/L 2) 0 0
Res. sub. companies 2) 0 0
Minority interests 0 32.995
Miscellaneous P/L 0 0
Net result 182.995 117.997
------------------------------------------------------------------------
Legend : 1) = Before tax
2) = After tax
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Chirag Diamonds Bvba *** FINANCIAL RATIOS
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--------2003-------- --------2004--------
EQUITY %
Equity gearing 1.9 2.0
Equity/outside capital 1.9 2.1
LIQUIDITY
Current ratio 1.0 1.0
Acid test .7 .6
RATES OF RETURN %
Total assets 1.2 .6
Shareholders' equity 64.8 27.9
Pre tax margin %
.5 .2
Turnover rate 237.2
225.6
(x
1) (x 1)
-------------------- --------------------
Working capital 291.994 320.006
Shareholders' equity + Equalization 314.998 358.008
------------------------------------------------------------------------
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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