MIRA
INFORM REPORT
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Report Date : |
23.11.2005 |
IDENTIFICATION
DETAILS
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Name : |
N SHAH & CO |
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Registered Office : |
Hoveniersstraat 53 B.6 2018 Antwerpen Be |
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Country : |
Belgium
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
23.11.1982 |
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Com. Reg. No.: |
233335 |
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Legal Form : |
Private
Company With Limited Liability |
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Line of Business : |
Wholesale
of miscellaneous intermediate products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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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Maximum Credit Limit : |
153000
EUR |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
name
N SHAH & CO
address
HOVENIERSSTRAAT 53 B.6
2018 ANTWERPEN BE
Tel. Number +32-3-4480254
Fax number +32-3-2337159
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Business founded |
23
November 1982 |
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Business registered |
01
January 1983 - Private company with limited liability |
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Business last updated |
31
December 2005 |
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Registration number, |
233335,
ANTWERPEN, |
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Value Added Tax number, |
BE423306119,
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Judicial form |
Private
company with limited lability |
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Activities |
Wholesale
of miscellaneous intermediate products |
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Payment experience |
no
complaints have been registered |
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Credit opinion |
Credit
opinion |
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Maximum
credit limit 153000 EUR is advised |
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Cash
situation (balance sheet analysis) : Limited |
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Profitability
(balance sheet analysis) : Low |
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Commitments
(regarding contractual obligations) : Currently fulfilled |
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Payment
defaults : None |
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Employees (Business) |
0 |
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Total share capital31 December 2005 |
EUR 19000,00 |
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Boardmembers |
SHAH
NARESH BABUBHAI Manager |
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Management |
BLANCKAERT
DIRK Representative and auditor |
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Auditor |
BLANCKAERT,
MISSORTEN, SPAENHOVEN & CO BEDRYFSREVISOREN REVISEURS D
EN Auditors´ president |
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The
business owns or partly owns one or more pieces of land and
buildings? Yes(Property) |
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PER,
period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December
2005 in EUR 36.020.000,00 |
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Not
consolidated profit and loss turnover of the business: |
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PER,
period that the financial account covers for not consolidated balance
sheet.: 00 0000 - 31 December 2005 in EUR |
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Total
assets incl. prepaid expenses and accrued income |
17.964.000,- |
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Total
fixed assets |
505.000,- |
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Total
tangible fixed assets |
505.000,- |
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Land
and buildings |
451.000,- |
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Plant,
machinery and equipment |
16.000,- |
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Total
Current assets |
17.459.000,- |
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Inventories
and work in progress (incl. prepayments) |
1.344.000,- |
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Accounts
receivable (trade) |
16.099.000,- |
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Cash
in hand and at bank |
11.000,- |
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Total
accrued income and prepaid expenses |
5.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
17.964.000,- |
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Total
equity (Shareholders' funds) |
509.000,- |
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Issued
(subscribed) capital |
19.000,- |
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Profit
reserves |
485.000,- |
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Legal
reserves |
2.000,- |
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Profit
or loss carried forward |
3.000,- |
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Total
liabilities |
17.455.000,- |
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Total
long-term liabilities |
44.000,- |
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Long-term
Loans, Mortgage debts |
39.000,- |
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Long-term
liabilities to credit institutions |
5.000,- |
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Total
current liabilities |
17.310.000,- |
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Current
accounts payable (trade) |
9.448.000,- |
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Current
liabilities to credit institutions |
7.230.000,- |
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Income
and social tax liabilities |
27.000,- |
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Total
accrued expenses and deferred income |
101.000,- |
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PER,
period that the financial account covers for not consolidated profit and loss
account.: 00 0000 - 31 December 2005 in EUR |
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Total
operating income/revenue |
36.102.000,- |
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Main
revenue (sales/turnover) |
36.020.000,- |
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Total
operating expenses |
-35.517.000,- |
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Cost
of materials (type of expenditure format) |
35.328.000,- |
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Cost
of goods sold (operational format) |
35.517.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
585.000,- |
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Personnel
costs |
16.000,- |
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Depreciation |
25.000,- |
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Operating
profit or loss |
585.000,- |
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Financial
income |
1.487.000,- |
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Financial
expenses |
-1.899.000,- |
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Result
of ordinary operations |
173.000,- |
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Extraordinary
income |
8.000,- |
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Extraordinary
result |
181.000,- |
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Taxes |
-44.000,- |
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Net
profit or loss |
137.000,- |
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Borrowing
ratio |
3429,27 % |
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Current
ratio |
100,27 % |
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Debt
gearing |
8,64 % |
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Profit
margin. |
1,68 % |
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Quick
ratio |
93,06 % |
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Return
on assets |
3,99 % |
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Return
on equity. |
26,91 % |
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Solidity
or equity ratio |
2,83 % |
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PER,
period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December
2004 in EUR 33.700.000,00 |
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Not
consolidated profit and loss turnover of the business: |
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PER,
period that the financial account covers for not consolidated balance
sheet.: 00 0000 - 31 December 2004 in EUR |
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Total
assets incl. prepaid expenses and accrued income |
16.828.000,- |
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Total
fixed assets |
530.000,- |
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Total
tangible fixed assets |
530.000,- |
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Land
and buildings |
466.000,- |
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Plant,
machinery and equipment |
20.000,- |
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Total
Current assets |
16.298.000,- |
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Inventories
and work in progress (incl. prepayments) |
3.460.000,- |
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Accounts
receivable (trade) |
12.789.000,- |
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Cash
in hand and at bank |
6.000,- |
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Total
accrued income and prepaid expenses |
43.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
16.828.000,- |
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Total
equity (Shareholders' funds) |
422.000,- |
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Issued
(subscribed) capital |
19.000,- |
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Profit
reserves |
398.000,- |
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Legal
reserves |
2.000,- |
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Profit
or loss carried forward |
3.000,- |
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Total
liabilities |
16.406.000,- |
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Total
long-term liabilities |
103.000,- |
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Long-term
Loans, Mortgage debts |
38.000,- |
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Long-term
liabilities to credit institutions |
65.000,- |
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Total
current liabilities |
16.254.000,- |
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Current
accounts payable (trade) |
7.119.000,- |
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Current
liabilities to credit institutions |
6.166.000,- |
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Income
and social tax liabilities |
7.000,- |
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Total
accrued expenses and deferred income |
49.000,- |
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PER,
period that the financial account covers for not consolidated profit and loss
account.: 00 0000 - 31 December 2004 in EUR |
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Total
operating income/revenue |
33.807.000,- |
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Main
revenue (sales/turnover) |
33.700.000,- |
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Total
operating expenses |
-33.011.000,- |
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Cost
of materials (type of expenditure format) |
32.817.000,- |
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Cost
of goods sold (operational format) |
33.011.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
796.000,- |
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Personnel
costs |
16.000,- |
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Depreciation |
23.000,- |
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Operating
profit or loss |
796.000,- |
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Financial
income |
1.282.000,- |
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Financial
expenses |
-1.986.000,- |
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Result
of ordinary operations |
92.000,- |
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Extraordinary
income |
21.000,- |
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Extraordinary
result |
113.000,- |
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Taxes |
-22.000,- |
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Net profit
or loss |
91.000,- |
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Borrowing
ratio |
3887,68 % |
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Current
ratio |
99,96 % |
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Debt
gearing |
24,41 % |
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Profit
margin. |
2,42 % |
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Quick
ratio |
78,71 % |
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Return
on assets |
3,38 % |
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Return
on equity. |
21,56 % |
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Solidity
or equity ratio |
2,50 % |
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PER,
period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December
2003 in EUR 36.907.000,00 |
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Not
consolidated profit and loss turnover of the business: |
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PER,
period that the financial account covers for not consolidated balance
sheet.: 00 0000 - 31 December 2003 in EUR |
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Total
assets incl. prepaid expenses and accrued income |
14.003.000,- |
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Total
fixed assets |
524.000,- |
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Total
tangible fixed assets |
524.000,- |
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Land
and buildings |
482.000,- |
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Plant,
machinery and equipment |
23.000,- |
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Total
Current assets |
13.479.000,- |
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Inventories
and work in progress (incl. prepayments) |
1.050.000,- |
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Accounts
receivable (trade) |
12.335.000,- |
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Cash
in hand and at bank |
94.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
14.003.000,- |
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Total
equity (Shareholders' funds) |
371.000,- |
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Issued
(subscribed) capital |
19.000,- |
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Profit
reserves |
348.000,- |
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Legal
reserves |
2.000,- |
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Profit
or loss carried forward |
2.000,- |
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Total
liabilities |
13.632.000,- |
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Total
long-term liabilities |
159.000,- |
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Long-term
Loans, Mortgage debts |
38.000,- |
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Long-term
liabilities to credit institutions |
121.000,- |
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Total
current liabilities |
13.450.000,- |
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Current
accounts payable (trade) |
5.453.000,- |
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Current
liabilities to credit institutions |
6.157.000,- |
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Income
and social tax liabilities |
20.000,- |
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Total
accrued expenses and deferred income |
23.000,- |
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PER,
period that the financial account covers for not consolidated profit and loss
account.: 00 0000 - 31 December 2003 in EUR |
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Total
operating income/revenue |
37.045.000,- |
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Main
revenue (sales/turnover) |
36.907.000,- |
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Total
operating expenses |
-36.013.000,- |
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Cost
of materials (type of expenditure format) |
35.782.000,- |
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Cost
of goods sold (operational format) |
36.013.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
1.032.000,- |
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Personnel
costs |
16.000,- |
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Depreciation |
22.000,- |
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Operating
profit or loss |
1.032.000,- |
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Financial
income |
2.151.000,- |
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Financial
expenses |
-3.062.000,- |
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Result
of ordinary operations |
121.000,- |
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Extraordinary
result |
121.000,- |
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Taxes |
-25.000,- |
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Net
profit or loss |
96.000,- |
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Borrowing
ratio |
3674,39 % |
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Current
ratio |
100,04 % |
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Debt
gearing |
42,86 % |
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Profit
margin. |
2,84 % |
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Quick
ratio |
92,40 % |
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Return
on assets |
4,22 % |
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Return
on equity. |
25,87 % |
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Solidity
or equity ratio |
2,64 % |
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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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