MIRA
INFORM REPORT
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Report Date : |
13th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
PATEL
DIAMONDS |
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Registered Office : |
Hoveniersstraat 2 B.305,
2018 Antwerpen Belgium. |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
14.10.1986 |
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Com. Reg. No.: |
253395,
ANTWERPEN |
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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 : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
44000
EUR |
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Status : |
Small
Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name & Address
PATEL DIAMONDS
HOVENIERSSTRAAT 2 B.305
2018 ANTWERPEN BE
Tel. Number +32-3-2251588
Fax number +32-3-2264438
Business founded
04 November 1985
Business registered
14 October 1986 - Private company with
limited liability
Business last updated
31 December 2005
Registration number
253395, ANTWERPEN
Value Added Tax number
BE428049815
Judicial form
Private company with limited liability
Activities
Wholesale of miscellaneous intermediate
products.
Payment experience
No complaints have been registered
Credit opinion
Maximum credit limit : 44000 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)
1
Total share capital
31 December 2005 EUR 86000,00
Bank
ABN AMRO BANK
Boardmembers
PATEL VINAYKUMAR Manager
SATASHIA CHHAGANLAL MOHANLAL
Manager
Management
PATEL FENIL Partner
PATEL HARSHADKUMAR MAGANLAL
Partner
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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 17.570.000,00 |
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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 |
8.263.000,- |
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Total
fixed assets |
86.000,- |
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Total
tangible fixed assets |
86.000,- |
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Land
and buildings |
82.000,- |
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Plant,
machinery and equipment |
4.000,- |
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Total
Current assets |
8.177.000,- |
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Inventories
and work in progress (incl. prepayments) |
475.000,- |
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Accounts
receivable (trade) |
7.675.000,- |
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Cash
in hand and at bank |
21.000,- |
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Total
accrued income and prepaid expenses |
6.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
8.263.000,- |
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Total equity
(Shareholders' funds) |
208.000,- |
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Issued
(subscribed) capital |
86.000,- |
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Share
premium account (capital reserve) |
34.000,- |
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Profit
reserves |
79.000,- |
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Legal
reserves |
9.000,- |
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Total
liabilities |
8.055.000,- |
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Total
long-term liabilities |
3.475.000,- |
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Long-term
Loans, Mortgage debts |
3.475.000,- |
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Total
current liabilities |
4.532.000,- |
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Current
accounts payable (trade) |
1.376.000,- |
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Current
liabilities to credit institutions |
2.987.000,- |
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Income
and social tax liabilities |
19.000,- |
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Total
accrued expenses and deferred income |
48.000,- |
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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 |
17.579.000,- |
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Main
revenue (sales/turnover) |
17.570.000,- |
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Total
operating expenses |
-17.230.000,- |
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Cost
of materials (type of expenditure format) |
17.076.000,- |
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Cost
of goods sold (operational format) |
17.230.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
349.000,- |
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Personnel
costs |
42.000,- |
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Depreciation |
6.000,- |
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Operating
profit or loss |
349.000,- |
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Financial
income |
989.000,- |
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Financial
expenses |
-1.228.000,- |
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Result
of ordinary operations |
110.000,- |
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Extraordinary
expenses |
-1.000,- |
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Extraordinary
result |
109.000,- |
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Taxes |
-7.000,- |
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Net
profit or loss |
102.000,- |
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Borrowing
ratio |
3872,60 % |
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Current
ratio |
178,53 % |
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Debt
gearing |
1670,67 % |
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Profit
margin. |
2,01 % |
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Quick
ratio |
169,81 % |
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Return
on assets |
3,13 % |
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Return
on equity. |
49,03 % |
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Solidity
or equity ratio |
2,51 % |
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PER, period regarding TUn, TRn, TXn, CPI
or CPN: 00 0000 - 31 December 2004 in EUR 17.093.000,00 |
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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 |
6.247.000,- |
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Total
fixed assets |
91.000,- |
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Total
tangible fixed assets |
91.000,- |
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Land
and buildings |
86.000,- |
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Plant,
machinery and equipment |
5.000,- |
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Total
Current assets |
6.156.000,- |
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Inventories
and work in progress (incl. prepayments) |
633.000,- |
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Accounts
receivable (trade) |
5.513.000,- |
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Cash
in hand and at bank |
4.000,- |
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Total
accrued income and prepaid expenses |
6.000,- |
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Total
equity, provisions, liabilities, accrued expenses and deferred income |
6.247.000,- |
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Total
equity (Shareholders' funds) |
201.000,- |
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Issued
(subscribed) capital |
86.000,- |
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Share
premium account (capital reserve) |
34.000,- |
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Profit
reserves |
79.000,- |
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Legal
reserves |
2.000,- |
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Total
liabilities |
6.046.000,- |
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Total
long-term liabilities |
3.010.000,- |
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Long-term
Loans, Mortgage debts |
3.010.000,- |
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Total
current liabilities |
3.015.000,- |
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Current
accounts payable (trade) |
1.361.000,- |
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Current
liabilities to credit institutions |
1.501.000,- |
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Income
and social tax liabilities |
21.000,- |
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Total
accrued expenses and deferred income |
21.000,- |
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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 |
17.093.000,- |
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Main
revenue (sales/turnover) |
17.093.000,- |
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Total
operating expenses |
-16.880.000,- |
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Cost
of materials (type of expenditure format) |
16.740.000,- |
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Cost
of goods sold (operational format) |
16.880.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
213.000,- |
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Personnel
costs |
38.000,- |
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Depreciation |
6.000,- |
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Operating
profit or loss |
213.000,- |
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Financial
income |
1.131.000,- |
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Financial
expenses |
-1.235.000,- |
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Result
of ordinary operations |
109.000,- |
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Extraordinary
result |
109.000,- |
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Taxes |
-10.000,- |
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Net
profit or loss |
99.000,- |
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Borrowing
ratio |
3007,96 % |
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Current
ratio |
202,76 % |
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Debt
gearing |
1497,51 % |
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Profit
margin. |
1,28 % |
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Quick
ratio |
182,98 % |
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Return
on assets |
2,94 % |
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Return
on equity. |
49,25 % |
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Solidity
or equity ratio |
3,21 % |
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PER, period regarding TUn, TRn, TXn, CPI
or CPN: 00 0000 - 31 December 2003 in EUR 10.994.000,00 |
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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 |
5.469.000,- |
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Total
fixed assets |
95.000,- |
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Total
tangible fixed assets |
95.000,- |
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Land
and buildings |
89.000,- |
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Plant,
machinery and equipment |
6.000,- |
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Total
Current assets |
5.374.000,- |
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Inventories
and work in progress (incl. prepayments) |
444.000,- |
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Accounts
receivable (trade) |
4.905.000,- |
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Cash
in hand and at bank |
20.000,- |
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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 |
5.469.000,- |
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Total
equity (Shareholders' funds) |
177.000,- |
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Issued
(subscribed) capital |
86.000,- |
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Share
premium account (capital reserve) |
34.000,- |
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Profit
reserves |
55.000,- |
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Legal
reserves |
2.000,- |
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Total
liabilities |
5.292.000,- |
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Total
current liabilities |
5.281.000,- |
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Current
accounts payable (trade) |
739.000,- |
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Current
liabilities to credit institutions |
1.144.000,- |
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Income
and social tax liabilities |
21.000,- |
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Total
accrued expenses and deferred income |
11.000,- |
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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 |
10.994.000,- |
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Main
revenue (sales/turnover) |
10.994.000,- |
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Total
operating expenses |
-10.805.000,- |
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Cost
of materials (type of expenditure format) |
10.688.000,- |
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Cost
of goods sold (operational format) |
10.805.000,- |
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Gross
profit or loss after cost of materials or after cost of goods sold |
189.000,- |
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Personnel
costs |
35.000,- |
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Depreciation |
6.000,- |
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Operating
profit or loss |
189.000,- |
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Financial
income |
832.000,- |
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Financial
expenses |
-923.000,- |
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Result
of ordinary operations |
98.000,- |
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Extraordinary
result |
98.000,- |
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Taxes |
-4.000,- |
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Net
profit or loss |
94.000,- |
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Borrowing
ratio |
2989,83 % |
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Current
ratio |
101,54 % |
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Profit
margin. |
1,77 % |
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Quick
ratio |
93,25 % |
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Return
on assets |
4,37 % |
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Return
on equity. |
53,10 % |
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Solidity
or equity ratio |
3,23 % |
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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