MIRA INFORM REPORT

 

 

Report Date :

21.08.2007

 

IDENTIFICATION DETAILS

 

Name :

L. D. GEMS

 

 

Registered Office :

Hoveniersstraat 12, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

18 June 1997

 

 

Com. Reg. No.:

323895

 

 

Legal Form :

Private company with limited liability

 

 

Line of Business :

Wholesale of miscellaneous intermediate products

 

 

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 :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

L.D. GEMS

HOVENIERSSTRAAT 12

2018 ANTWERPEN BE

Tel. Number       +32-3-2274810

Fax number       +32-3-2274810

 

 

Business founded

18 June 1997

Business registered

11 July 1997 - Private company with limited liability

Registration number,

323895, ANTWERPEN,

Value Added Tax number,

BE461031003,

Judicial form

Private company with limited liability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Total share capital31 December 2005

EUR 18600,00

Branch office(s)

QUINTEN MATSIJSLEI 11,2018 ANTWERPEN   

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

SHAH DIPESH LALITKUMAR    Manager

Management

SHAH LALIT RATILAL    Partner

 

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2005  in  EUR 2.150.304,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

1.249.270,-

Total fixed assets

15.013,-

Total tangible fixed assets

15.013,-

Plant, machinery and equipment

4.030,-

Total Current assets

1.234.257,-

Inventories and work in progress (incl. prepayments)

466.668,-

Accounts receivable (trade)

689.442,-

Cash in hand and at bank

76.226,-

Total accrued income and prepaid expenses

1.921,-

Total equity, provisions, liabilities, accrued expenses and deferred income

1.249.270,-

Total equity (Shareholders' funds)

-6.679,-

Issued (subscribed) capital

18.600,-

Profit reserves

988,-

Legal reserves

1.239,-

Profit or loss carried forward

-27.506,-

Total liabilities

1.255.949,-

Total current liabilities

1.255.449,-

Current accounts payable (trade)

512.531,-

Income and social tax liabilities

1.428,-

Total accrued expenses and deferred income

500,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 31 December 2005  in  EUR 

Main revenue (sales/turnover)

2.150.304,-

Cost of goods sold (operational format)

2.064.000,-

Depreciation

5.925,-

Operating profit or loss

89.586,-

Financial income

207.136,-

Financial expenses

-288.726,-

Result of ordinary operations

7.996,-

Extraordinary result

7.996,-

Taxes

-9,-

Net profit or loss

7.987,-

Borrowing ratio

-18804,45 %

Current ratio

98,27 %

Debt gearing

-0,00 %

Profit margin.

4,44 %

Quick ratio

60,98 %

Return on assets

24,22 %

Return on equity.

-119,58 %

Solidity or equity ratio

-0,53 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004  in  EUR 2.400.032,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

917.470,-

Total fixed assets

18.784,-

Total tangible fixed assets

18.784,-

Plant, machinery and equipment

3.757,-

Total Current assets

898.686,-

Inventories and work in progress (incl. prepayments)

523.050,-

Accounts receivable (trade)

214.423,-

Cash in hand and at bank

159.044,-

Total accrued income and prepaid expenses

2.169,-

Total equity, provisions, liabilities, accrued expenses and deferred income

917.470,-

Total equity (Shareholders' funds)

-14.667,-

Issued (subscribed) capital

18.600,-

Profit reserves

988,-

Legal reserves

1.239,-

Profit or loss carried forward

-35.494,-

Total liabilities

932.137,-

Total current liabilities

932.137,-

Current accounts payable (trade)

276.723,-

Income and social tax liabilities

1.628,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 31 December 2004  in  EUR 

Main revenue (sales/turnover)

2.400.032,-

Cost of goods sold (operational format)

2.444.417,-

Depreciation

5.728,-

Operating profit or loss

-44.385,-

Financial income

193.367,-

Financial expenses

-146.799,-

Result of ordinary operations

2.183,-

Extraordinary income

1.141,-

Extraordinary result

3.324,-

Taxes

-3,-

Net profit or loss

3.321,-

Borrowing ratio

-6355,34 %

Current ratio

96,41 %

Debt gearing

-0,00 %

Profit margin.

-1,61 %

Quick ratio

40,06 %

Return on assets

16,98 %

Return on equity.

-22,64 %

Solidity or equity ratio

-1,59 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 1.568.200,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 - 31 December 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

988.662,-

Total fixed assets

23.059,-

Total tangible fixed assets

23.059,-

Plant, machinery and equipment

5.164,-

Total Current assets

965.603,-

Inventories and work in progress (incl. prepayments)

630.625,-

Accounts receivable (trade)

192.121,-

Cash in hand and at bank

141.104,-

Total accrued income and prepaid expenses

1.753,-

Total equity, provisions, liabilities, accrued expenses and deferred income

988.662,-

Total equity (Shareholders' funds)

-17.988,-

Issued (subscribed) capital

18.592,-

Profit reserves

996,-

Legal reserves

1.239,-

Profit or loss carried forward

-38.815,-

Total liabilities

1.006.650,-

Total current liabilities

1.006.650,-

Current accounts payable (trade)

280.662,-

Income and social tax liabilities

1.659,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 31 December 2003  in  EUR 

Main revenue (sales/turnover)

1.568.200,-

Cost of goods sold (operational format)

1.721.306,-

Depreciation

2.690,-

Operating profit or loss

-153.106,-

Financial income

452.807,-

Financial expenses

-297.318,-

Result of ordinary operations

2.383,-

Extraordinary income

113,-

Extraordinary result

2.496,-

Taxes

-1.092,-

Net profit or loss

1.404,-

Borrowing ratio

-5596,23 %

Current ratio

95,92 %

Debt gearing

-0,00 %

Profit margin.

-9,59 %

Quick ratio

33,10 %

Return on assets

30,59 %

Return on equity.

-7,80 %

Solidity or equity ratio

-1,81 %

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. 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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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