MIRA
INFORM REPORT
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Report Date : |
28.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
Savani Jewels bvba |
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Registered Office : |
Hoveniersstraat 55, 2018 Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
27/06/2002 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale and retail business in
jewellery. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
Savani Jewels bvba
Hoveniersstraat 55
2018 ANTWERPEN
Tel.:+32
(0)3-4751525
Fax.:+32
(0)3-4751535
Legal status
Private limited company
Founded
27/06/2002 as BVBA
Trade register
99933450
Capital
nominal EUR 18.600,--
issued and paid up EUR 18.600,--
Management
SAVANI Mavjibhai L. Quinten Matsijslei 11,
Antwerpen
SAVANI Ketan M., Quinten Matsijslei 11,
Antwerpen
Activity
Whole sale and retail business in jewellery.
Staff
1 employee.
Turnover
Net turnover:
2006 Euro 1.840.418
2005 Euro 2.078.016
2004 Euro 954.802
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
Previously
located:
-Savani Jewels Bvba,
Quinten Matsijslei 11, 2018 ANTWERPEN, BELGIE
Net result:
2006 Euro 18.085
2005 Euro 4.119
2004 Euro 5.226
The shareholders equity was as of:
31/12/2006 Euro 41.781
31/12/2005 Euro 23.696
31/12/2004 Euro 19.577
The working capital was
as of:
31/12/2006 Euro 226.623
31/12/2005 Euro 246.961
31/12/2004 Euro (20.420)
Complete address:
Hoveniersstraat 55 Bus 19
2018 Antwerp Belgium
Bank: Antwerpse Diamantbank NV
Banks
Under remarks
VAT-nr.
BE477933450
Mode of payment
No complaints have been registered
Credit demand
No objections against entering into a business relationship.
The following
financial data is retrieved from the corporate balance sheet of :
Savani Jewels bvba
Hoveniersstraat 55,
2018 ANTWERPEN
Trade register 99933450
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Savani
Jewels bvba *** BALANCE SHEET ***
Corporate
in Euro(x 1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible
assets 0 0
Tangible
assets 8.674 9.971
Financial
assets 30.762 40.501
Miscellaneous
fixed assets 0 0
Total fixed assets 39.436 50.472
Stock 551.646 556.640
Receivables 883.015 510.562
Shares 0 0
Liquid
assets 26.251 8.727
Miscellaneous
current assets 0 0
Total current assets 1.460.912 1.075.929
Shareholders equity 23.696 41.781
Provisions 0 0
Long-term
liabilities 262.701 235.314
Current
liabilities 1.213.951 849.306
Minority
interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 1.500.348 1.126.401
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Savani
Jewels bvba *** PROFIT & LOSS ACCOUNT
***
Corporate
in Euro(x 1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 2.078.016 1.840.418
Other
income 0 0
Total
expenses 2.045.291 1.845.996
Operating
profit 32.725 -5.578
Balance
financial P/L -23.055 -2.582
Net
profit/loss 1] 9.670 -8.160
Taxation 5.551 2.699
Share
in P/L of subsidiaries 0 0
Net
profit/loss 2] 4.119 -10.859
Balance
extraordinary P/L 0 28.944
Taxation 0 0
Extraordinary
P/L 2] 0 28.944
Res.
sub. companies 2] 0 0
Minority
interests 0 0
Miscellaneous
P/L 0 0
Net
result 4.119 18.085
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Legend
: 1] = Before tax
2] = After tax
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Savani
Jewels bvba *** FINANCIAL RATIOS ***
-----2005----- -----2006-----
EQUITY %
Equity
gearing 1,6 3,7
Equity/outside
capital 1,6 3,9
LIQUIDITY
Current
ratio 1,2 1,3
Acid
test 0,7 0,6
RATES
OF RETURN %
Total
assets 0,6 -0,7
Shareholders equity 40,8 -19,5
Pre
tax margin % 0,5 -0,4
Turnover
rate 138,5 163,4
(x 1) (x 1)
-------------------- --------------------
Working
capital 246.961 226.623
Shareholders equity + Equalization acc. 23.696 41.781
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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. |
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%)