MIRA INFORM REPORT

 

 

Report Date :

09.01.2007

 

IDENTIFICATION DETAILS

 

Name :

EKTA DIAMONDS

 

 

Registered Office :

Hoveniersstraat 2, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.03.2005

 

 

Date of Incorporation :

13 June 1989

 

 

Com. Reg. No.:

274282

 

 

Legal Form :

Private Company With Limited Liability

 

 

Line of Business :

Wholesale of miscellaneous intermediate products.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slightly Delayed

 

 

Litigation :

Clear

 

 

name & address

 

EKTA DIAMONDS

HOVENIERSSTRAAT 2

2018 ANTWERPEN BE

Tel. Number  +32-3-2335153

Fax number  +32-3-2260247

 

 

Business founded

13 June 1989

Business registered

09 January 1990 - Private company with limited liability

Registration number,

274282, ANTWERPEN,

Value Added Tax number,

BE437643214,

Judicial form

Private company with limited liability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

To be monitored („a surveiller“)

Credit opinion

Credit opinion

 

Based on the available details we recommend you to deal on fully secured terms only and to monitor the developments

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Low 

 

Commitments (regarding contractual obligations) : Fulfilled with difficulties 

 

Payment defaults : Rare 

Total share capital31 December 2005

EUR 18600,00

Branch office(s)

HOVENIERSSTRAAT 2 B.615,2018 ANTWERPEN   

Bank

STATE BANK OF INDIA   

Boardmembers

SAMIR SHAH DHANSUKHLAL    Manager

Management

MEHTA SHISHIR    Partner

 

BLANCKAERT DIRK    Representative and auditor

Auditor

BLANCKAERT, MISSORTEN, SPAENHOVEN & CO

BEDRYFSREVISOREN REVISEURS D EN   Auditors´

president

 

 

 

 

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 0,00

 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

2.037.896,-

Total fixed assets

10.002,-

Total tangible fixed assets

7.610,-

Total financial fixed assets

2.392,-

Total Current assets

2.027.894,-

Inventories and work in progress (incl. prepayments)

1.307.338,-

Accounts receivable (trade)

675.242,-

Cash in hand and at bank

41.353,-

Total accrued income and prepaid expenses

3.961,-

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

2.037.896,-

Total equity (Shareholders' funds)

-7.907,-

Issued (subscribed) capital

18.600,-

Profit reserves

56.402,-

Legal reserves

1.860,-

Profit or loss carried forward

-84.769,-

Total liabilities

2.045.803,-

Total long-term liabilities

787.091,-

Total current liabilities

1.238.776,-

Current accounts payable (trade)

660.743,-

Current liabilities to credit institutions

569.749,-

Total accrued expenses and deferred income

19.936,-

 

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

Cost of goods sold (operational format)

6.055,-

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

-6.055,-

Depreciation

4.410,-

Operating profit or loss

63.701,-

Financial income

134.498,-

Financial expenses

-153.563,-

Result of ordinary operations

44.636,-

Extraordinary result

44.636,-

Net profit or loss

44.636,-

Borrowing ratio

-25873,31 %

Current ratio

161,10 %

Debt gearing

-9954,36 %

Quick ratio

57,84 %

Return on assets

9,94 %

Return on equity.

-564,51 %

Solidity or equity ratio

-0,38 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004  in  EUR 8.320.000,00

 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

3.085.000,-

Total fixed assets

14.000,-

Total tangible fixed assets

12.000,-

Total financial fixed assets

2.000,-

Investments (long-term)

2.000,-

Total Current assets

3.071.000,-

Inventories and work in progress (incl. prepayments)

1.350.000,-

Accounts receivable (trade)

1.679.000,-

Cash in hand and at bank

36.000,-

Total accrued income and prepaid expenses

6.000,-

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

3.085.000,-

Total equity (Shareholders' funds)

-52.000,-

Issued (subscribed) capital

19.000,-

Profit reserves

56.000,-

Legal reserves

2.000,-

Profit or loss carried forward

-129.000,-

Total liabilities

3.137.000,-

Total long-term liabilities

795.000,-

Long-term Loans, Mortgage debts

787.000,-

Long-term liabilities to credit institutions

8.000,-

Total current liabilities

2.329.000,-

Current accounts payable (trade)

1.438.000,-

Current liabilities to credit institutions

887.000,-

Total accrued expenses and deferred income

13.000,-

 

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

Total operating income/revenue

8.345.000,-

Main revenue (sales/turnover)

8.320.000,-

Total operating expenses

-8.278.000,-

Cost of materials (type of expenditure format)

8.151.000,-

Cost of goods sold (operational format)

8.278.000,-

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

67.000,-

Depreciation

4.000,-

Operating profit or loss

67.000,-

Financial income

212.000,-

Financial expenses

-260.000,-

Result of ordinary operations

19.000,-

Extraordinary result

19.000,-

Net profit or loss

19.000,-

Borrowing ratio

-6032,69 %

Current ratio

131,12 %

Debt gearing

-1528,85 %

Profit margin.

-1,72 %

Quick ratio

73,63 %

Return on assets

-4,44 %

Return on equity.

-36,53 %

Solidity or equity ratio

-1,68 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 0,00

 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

3.941.436,-

Total fixed assets

18.876,-

Total tangible fixed assets

16.484,-

Total financial fixed assets

2.392,-

Total Current assets

3.922.560,-

Inventories and work in progress (incl. prepayments)

1.483.833,-

Accounts receivable (trade)

2.267.354,-

Cash in hand and at bank

164.694,-

Total accrued income and prepaid expenses

6.679,-

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

3.941.436,-

Total equity (Shareholders' funds)

-71.155,-

Issued (subscribed) capital

18.592,-

Profit reserves

56.410,-

Legal reserves

1.859,-

Profit or loss carried forward

-148.016,-

Total liabilities

4.012.591,-

Total long-term liabilities

799.534,-

Total current liabilities

3.197.132,-

Current accounts payable (trade)

2.299.759,-

Current liabilities to credit institutions

882.160,-

Income and social tax liabilities

7.122,-

Total accrued expenses and deferred income

15.925,-

 

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

Cost of goods sold (operational format)

220.616,-

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

-220.616,-

Depreciation

4.464,-

Operating profit or loss

-164.561,-

Financial income

385.319,-

Financial expenses

-367.048,-

Result of ordinary operations

-146.290,-

Extraordinary result

-146.290,-

Taxes

-2.008,-

Net profit or loss

-148.298,-

Borrowing ratio

-5639,23 %

Current ratio

122,08 %

Debt gearing

-1123,65 %

Quick ratio

76,06 %

Return on assets

11,16 %

Return on equity.

208,41 %

Solidity or equity ratio

-1,80 %

 

 

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/normal.

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

 

 

 

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