MIRA INFORM REPORT

 

 

Report Date :

13.01.2007

 

IDENTIFICATION DETAILS

 

Name :

ANKUR DIAMONDS

 

 

Registered Office :

Hoveniersstraat 30 B.143, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

04 February 1997

 

 

Com. Reg. No.:

321329

 

 

Legal Form :

Private Company Limited By Shares

 

 

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

 

Maximum Credit Limit :

248000 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

ANKUR DIAMONDS

HOVENIERSSTRAAT 30 B.143

2018 ANTWERPEN BE

Tel. Number  +32-3-4481148

Fax number  +32-3-2334638

 

 

Business founded

04 February 1997

Business registered

19 February 1997 - Private company limited by shares

Registration number,

321329, ANTWERPEN,

Value Added Tax number,

BE459929854,

Judicial form

Private company limited by shares

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Maximum credit limit 248000 EUR is advised

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 4

Total share capital31 December 2005

EUR 3352000,00

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

BHANSALI KAUSHIK CHANDRAKANT    Deputy boardmember

 

BHANSALI RUPEN CHANDRAKANT    Boardmember

 

SHAH ASHOK HIMATLAL    Boardmember

Management

BURLINGTON TRADING LTD    Partner

 

MEYNENDONCKX BART FILIP GERARD    Representative and auditor

Auditor

LUYTEN-MEYNENDONCKX & PARTNERS BEDRIJFREVISOREN/REVISEURS D'ENTREPRISE   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 116.656.000,00

 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 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

66.001.000,-

Total fixed assets

238.000,-

Total tangible fixed assets

195.000,-

Land and buildings

62.000,-

Plant, machinery and equipment

5.000,-

Total financial fixed assets

43.000,-

Loans, shares and participations

72.000,-

Investments (long-term)

2.000,-

Total Current assets

65.763.000,-

Inventories and work in progress (incl. prepayments)

27.268.000,-

Accounts receivable (trade)

37.712.000,-

Receivables from affiliates and companies in which participations are held

31.000,-

Investments (short-term)

618.000,-

Cash in hand and at bank

160.000,-

Total accrued income and prepaid expenses

5.000,-

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

66.001.000,-

Total equity (Shareholders' funds)

3.795.000,-

Issued (subscribed) capital

3.352.000,-

Legal reserves

250.000,-

Profit or loss carried forward

193.000,-

Total liabilities

62.206.000,-

Total long-term liabilities

11.071.000,-

Long-term liabilities to credit institutions

51.000,-

Total current liabilities

49.916.000,-

Current accounts payable (trade)

20.031.000,-

Current liabilities to credit institutions

29.700.000,-

Income and social tax liabilities

74.000,-

Total accrued expenses and deferred income

1.219.000,-

 

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

Total operating income/revenue

116.656.000,-

Main revenue (sales/turnover)

116.656.000,-

Total operating expenses

-113.943.000,-

Cost of materials (type of expenditure format)

112.203.000,-

Cost of goods sold (operational format)

113.943.000,-

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

2.713.000,-

Personnel costs

176.000,-

Depreciation

37.000,-

Operating profit or loss

2.713.000,-

Financial expenses

-2.623.000,-

Result of ordinary operations

90.000,-

Extraordinary income

35.000,-

Extraordinary result

125.000,-

Taxes

-55.000,-

Net profit or loss

70.000,-

Borrowing ratio

1639,16 %

Current ratio

128,60 %

Debt gearing

291,73 %

Profit margin.

2,35 %

Quick ratio

77,10 %

Return on assets

4,19 %

Return on equity.

1,84 %

Solidity or equity ratio

5,74 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004  in  EUR 86.080.000,00

 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

60.941.000,-

Total fixed assets

186.000,-

Total tangible fixed assets

186.000,-

Total Current assets

60.755.000,-

Inventories and work in progress (incl. prepayments)

26.702.000,-

Accounts receivable (trade)

33.977.000,-

Cash in hand and at bank

66.000,-

Total accrued income and prepaid expenses

10.000,-

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

60.941.000,-

Total equity (Shareholders' funds)

3.724.000,-

Issued (subscribed) capital

3.352.000,-

Legal reserves

219.000,-

Profit or loss carried forward

153.000,-

Total liabilities

57.217.000,-

Total long-term liabilities

5.941.000,-

Long-term liabilities to credit institutions

68.000,-

Total current liabilities

50.451.000,-

Current accounts payable (trade)

24.372.000,-

Current liabilities to credit institutions

25.906.000,-

Income and social tax liabilities

61.000,-

Total accrued expenses and deferred income

825.000,-

 

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

86.257.000,-

Main revenue (sales/turnover)

86.080.000,-

Total operating expenses

-84.272.000,-

Cost of materials (type of expenditure format)

83.139.000,-

Cost of goods sold (operational format)

84.272.000,-

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

1.985.000,-

Personnel costs

203.000,-

Depreciation

47.000,-

Operating profit or loss

1.985.000,-

Financial income

1.000,-

Financial expenses

-1.884.000,-

Result of ordinary operations

102.000,-

Extraordinary result

102.000,-

Taxes

-40.000,-

Net profit or loss

62.000,-

Borrowing ratio

1536,44 %

Current ratio

118,48 %

Debt gearing

159,53 %

Profit margin.

2,35 %

Quick ratio

67,47 %

Return on assets

3,33 %

Return on equity.

1,66 %

Solidity or equity ratio

6,11 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003  in  EUR 156.681.000,00

 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 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

74.417.000,-

Total fixed assets

140.000,-

Total tangible fixed assets

140.000,-

Land and buildings

2.000,-

Total Current assets

74.277.000,-

Inventories and work in progress (incl. prepayments)

28.590.000,-

Accounts receivable (trade)

45.683.000,-

Cash in hand and at bank

2.000,-

Total accrued income and prepaid expenses

2.000,-

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

74.417.000,-

Total equity (Shareholders' funds)

3.662.000,-

Issued (subscribed) capital

3.352.000,-

Legal reserves

200.000,-

Profit or loss carried forward

110.000,-

Total liabilities

70.755.000,-

Total long-term liabilities

6.379.000,-

Long-term liabilities to credit institutions

45.000,-

Total current liabilities

63.732.000,-

Current accounts payable (trade)

27.960.000,-

Current liabilities to credit institutions

35.593.000,-

Income and social tax liabilities

72.000,-

Total accrued expenses and deferred income

644.000,-

 

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

Total operating income/revenue

156.853.000,-

Main revenue (sales/turnover)

156.681.000,-

Total operating expenses

-153.656.000,-

Cost of materials (type of expenditure format)

152.007.000,-

Cost of goods sold (operational format)

153.656.000,-

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

3.197.000,-

Personnel costs

203.000,-

Depreciation

44.000,-

Operating profit or loss

3.197.000,-

Financial income

7.000,-

Financial expenses

-3.036.000,-

Result of ordinary operations

168.000,-

Extraordinary result

168.000,-

Taxes

-80.000,-

Net profit or loss

88.000,-

Borrowing ratio

1932,14 %

Current ratio

115,37 %

Debt gearing

174,19 %

Profit margin.

2,06 %

Quick ratio

71,68 %

Return on assets

4,27 %

Return on equity.

2,40 %

Solidity or equity ratio

4,92 %

 

 

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