MIRA
INFORM REPORT
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Report Date : |
12.04.2007 |
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
Business founded
23 November 1982
Business registered
01 January 1983 - Private company with
limited liability
Business last updated
31 December 2005
Registration number
233335, ANTWERPEN
Value Added Tax number
BE423306119
Judicial form
Private company with limited lability
Activities
Wholesale of miscellaneous intermediate
products
Payment experience
No complaints have been registered
Credit opinion
Credit opinion
Maximum credit limit :
153000 EUR is advised
Cash situation (balance sheet analysis) : Limited
Profitability (balance sheet analysis) : Low
Commitments (regarding contractual obligations) : Currently fulfilled
Payment defaults : None
Employees (Business)
0
Total share capital
31 December 2005 EUR 19000,00
Boardmembers
SHAH NARESH BABUBHAI
Manager
Management
BLANCKAERT DIRK
Representative and auditor
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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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%)