MIRA INFORM REPORT

 

 

Report Date :

23.08.2007

 

IDENTIFICATION DETAILS

 

Name :

SAURAJ DIAMONDS

 

 

Registered Office :

Hoveniersstraat 2 B.316, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

10 December 1982

 

 

Com. Reg. No.:

234261

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Wholesale of miscellaneous intermediate products

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

SAURAJ DIAMONDS

HOVENIERSSTRAAT 2 B.316

2018 ANTWERPEN BE

Tel. Number       +32-3-2337891

Fax number       +32-3-2314968

 

 

Business founded

10 December 1982

Business registered

08 March 1983 - Public limited company (no information regarding quotation)

Registration number,

234261, ANTWERPEN,

VAT number,

BE423731731,

Legal form

Public limited company (no information regarding quotation)

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) : Very good 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 2

Total share capital31 December 2006

EUR 1249755,00

Boardmembers

JHAVERI SOHIL RAJNIKANT    Deputy boardmember

 

ZAVERI PANKAJ    Boardmember

 

PARIKH ANIKET BHARAT    Boardmember

 

DOSHI JAYESH RAMANJKLAL    Boardmember

 

SHAH APARNA    Boardmember

Management

JHAVERI SOHIL RAJNIKANT    General manager

 

VAN MOL LUDO    Agent

 

DISCRY LUC    Representative and auditor

 

TOELEN LUC    Representative and auditor

Auditor

TCLM TOELEN CATS MORLIE & CO    Auditors´ president

 

HENDRICKX VAN WOENSEL & CO    Auditors´ president

 

 

 

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

 

Turnover for the period: 00 0000 - 31 December 2006  in  EUR 51.914.390,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

32.674.541,-

Total fixed assets

449.201,-

Total tangible fixed assets

242.059,-

Land and buildings

165.430,-

Plant, machinery and equipment

14.738,-

Total financial fixed assets

207.142,-

Investments (long-term)

207.142,-

Total Current assets

32.225.340,-

Inventories and work in progress (incl. prepayments)

6.697.541,-

Accounts receivable (trade)

25.524.134,-

Cash in hand and at bank

3.618,-

Total accrued income and prepaid expenses

47,-

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

32.674.541,-

Total equity (Shareholders' funds)

4.914.227,-

Issued (subscribed) capital

1.249.755,-

Profit reserves

385.496,-

Legal reserves

3.278.976,-

Total liabilities

27.760.314,-

Total current liabilities

27.760.314,-

Current accounts payable (trade)

15.557.553,-

Current liabilities to credit institutions

11.866.764,-

Income and social tax liabilities

7.742,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2006  in  EUR 

Total operating income/revenue

51.914.390,-

Main revenue (sales/turnover)

51.914.390,-

Total operating expenses

47.453.402,-

Cost of materials (type of expenditure format)

47.055.650,-

Cost of goods sold (operational format)

47.453.402,-

Gross profit or loss after cost of materials or after cost of goods sold

4.460.988,-

Personnel costs

79.518,-

Depreciation

27.789,-

Operating profit or loss

4.460.988,-

Financial income

14.798,-

Financial expenses

1.223.823,-

Result of ordinary operations

3.251.963,-

Extraordinary result

3.251.963,-

Appropriations

1.497,-

Taxes

162.991,-

Net profit or loss

3.090.469,-

Borrowing ratio

405,96 %

Current ratio

116,08 %

Profit margin.

8,64 %

Quick ratio

91,95 %

Return on assets

13,38 %

Return on equity.

62,88 %

Solidity or equity ratio

15,03 %

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 79.661.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

40.835.000,-

Total fixed assets

267.000,-

Total tangible fixed assets

267.000,-

Land and buildings

172.000,-

Plant, machinery and equipment

21.000,-

Total Current assets

40.568.000,-

Inventories and work in progress (incl. prepayments)

3.613.000,-

Accounts receivable (trade)

36.954.000,-

Cash in hand and at bank

1.000,-

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

40.835.000,-

Total equity (Shareholders' funds)

1.824.000,-

Issued (subscribed) capital

1.250.000,-

Profit reserves

446.000,-

Legal reserves

128.000,-

Total provisions

1.000,-

Total liabilities

39.010.000,-

Total current liabilities

39.010.000,-

Current accounts payable (trade)

22.073.000,-

Current liabilities to credit institutions

16.830.000,-

Income and social tax liabilities

29.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2005  in  EUR 

Total operating income/revenue

79.661.000,-

Main revenue (sales/turnover)

79.661.000,-

Total operating expenses

-77.962.000,-

Cost of materials (type of expenditure format)

77.502.000,-

Cost of goods sold (operational format)

77.962.000,-

Gross profit or loss after cost of materials or after cost of goods sold

1.699.000,-

Personnel costs

104.000,-

Depreciation

29.000,-

Operating profit or loss

1.699.000,-

Financial income

2.000,-

Financial expenses

-1.541.000,-

Result of ordinary operations

160.000,-

Extraordinary result

160.000,-

Appropriations

7.000,-

Taxes

-69.000,-

Net profit or loss

98.000,-

Borrowing ratio

2136,56 %

Current ratio

103,99 %

Profit margin.

2,16 %

Quick ratio

94,73 %

Return on assets

3,62 %

Return on equity.

5,37 %

Solidity or equity ratio

4,46 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 80.552.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

31.881.000,-

Total fixed assets

282.000,-

Total tangible fixed assets

282.000,-

Land and buildings

179.000,-

Plant, machinery and equipment

15.000,-

Total Current assets

31.599.000,-

Inventories and work in progress (incl. prepayments)

4.696.000,-

Accounts receivable (trade)

26.900.000,-

Cash in hand and at bank

3.000,-

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

31.881.000,-

Total equity (Shareholders' funds)

1.726.000,-

Issued (subscribed) capital

1.250.000,-

Profit reserves

332.000,-

Legal reserves

144.000,-

Total provisions

8.000,-

Total liabilities

30.147.000,-

Total current liabilities

30.147.000,-

Current accounts payable (trade)

14.697.000,-

Current liabilities to credit institutions

15.374.000,-

Income and social tax liabilities

11.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2004  in  EUR 

Total operating income/revenue

80.552.000,-

Main revenue (sales/turnover)

80.552.000,-

Total operating expenses

-79.558.000,-

Cost of materials (type of expenditure format)

79.096.000,-

Cost of goods sold (operational format)

79.558.000,-

Gross profit or loss after cost of materials or after cost of goods sold

994.000,-

Personnel costs

118.000,-

Depreciation

28.000,-

Operating profit or loss

994.000,-

Financial income

21.000,-

Financial expenses

-945.000,-

Result of ordinary operations

70.000,-

Extraordinary income

49.000,-

Extraordinary result

119.000,-

Appropriations

7.000,-

Taxes

-40.000,-

Net profit or loss

86.000,-

Borrowing ratio

1734,99 %

Current ratio

104,81 %

Profit margin.

1,26 %

Quick ratio

89,23 %

Return on assets

2,80 %

Return on equity.

4,98 %

Solidity or equity ratio

5,41 %

 

 

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