MIRA
INFORM REPORT
|
Report Date : |
18.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
JEWELEX ANTWERP NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 30, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on): |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
16/06/1988 |
|
|
|
|
Legal Form : |
NV Public limited company |
|
|
|
|
Line of Business : |
Engaged in the business of import and
export of and wholesale business in raw and polished diamonds. |
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 |
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
Name
Jewelex Antwerp NV
Hoveniersstraat 30
2018 ANTWERPEN
Tel. :+31 (0)3-2311919
Fax. :+31 (0)3-2315846
Legal status
NV Public limited company [nat. law]
Founded
16/06/1988 as P.l.c.
Trade register
52263724
Capital
Nominal EUR 1.000.000,--
Issued and paid up EUR 1.000.000,--
Management
SHAH Jitendra
MODY Hemal V.
KOTHARI Nishit
KORHARI Alpa
Activity
Import and export of and wholesale business in raw and polished diamonds.
Staff
2 employees
Turnover
Net turnover:
2005 Euro 51.306.002
2004 Euro 52.536.992
2003 Euro 24.753.011
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
Net result:
2005 Euro 117.006
2004 Euro 137.011
2003 Euro 44.993
The shareholders equity was as of:
31/12/2005 Euro 4.186.996
31/12/2004 Euro 4.071.007
31/12/2003 Euro 3.872.989
The working capital was as of:
31/12/2005 Euro 3.968.006
31/12/2004 Euro 4.093.987
31/12/2003 Euro 3.759.999
Additional bankers:
Antwerpse Diamantbank
Full address:
Hoveniersstraat 30, bus 191, bureel 324 ,
2000 ANTWERPEN
Subject matter has its offices in the World Diamond Center (aka
Antwerp Diamond House II.
Full address: Hoveniersstraat 30, bus 191, bureel 324
Import: India
Expoer: India
Directors:
- SHAH Jitendra
- MODY Hemal V.
- KOTHARI Nishit
-KORHARI Alpa
Participation/Subsidary:
Jewelex Shanghai Ltd. (98%)
Banks
ABN-AMRO NV, 674-5253793-87
VAT-nr.
BE433849425
Mode of payment
No complaints have been registered
Credit demand
No objections against entering into a business relationship. A maximum credit limit of EUR 125.000 is advised
The following financial data is retrieved
from the corporate balance sheet of :
Jewelex Antwerp NV
Hoveniersstraat 30, 2018 ANTWERPEN
Trade register 52263724
-----------------------------------------------------------------------------
BALANCE SHEET
Corporate in Euro(x 1) Euro(x 1)
---31-12-2004--- ------31-12-2005---
Intangible assets 0 0
Tangible assets 5.007 411.007
Financial assets 3.000 162.990
Miscellaneous fixed assets 0 0
Total fixed assets 8.007 573.997
Stock 7.178.996 11.097.995
Receivables 10.082.004 13.280.994
Shares 135.003 0
Liquid assets 79.995 429.005
Miscellaneous current assets 0 0
Total current assets 17.475.998 24.807.994
Shareholders equity 4.071.007 4.186.996
Provisions 31.011 31.011
Long-term liabilities 0 323.997
Current liabilities 13.382.011 20.839.988
Minority interests 0 0
Miscellaneous liabilities 0 0
Total liabilities 17.453.018 25.351.005
PROFIT & LOSS ACCOUNT
Corporate in Euro(x 1) Euro(x 1)
---31-12-2004--- ------31-12-2005---
Turnover 52.536.992 51.306.002
Other income 91.993 0
Total expenses 51.894.006 50.628.013
Operating profit 735.004 677.989
Balance financial P/L -444.002 -532.004
Net profit/loss 1] 291.002 146.009
Taxation 61.998 65.989
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 229.004 80.020
Balance extraordinary P/L 0 35.003
Taxation 0 0
Extraordinary P/L 2] 0 35.003
Res. sub. companies 2] 0 0
Minority interests 6.991 0
Miscellaneous P/L 0 0
Net result 137.011 117.006
-----------------------------------------------------------------------------
Legend : 1] = Before tax
2]
= After tax
FINANCIAL RATIOS
-----2004----- -----2005-----
EQUITY %
Equity gearing 23,3 16,5
Equity/outside capital 30,4 19,8
LIQUIDITY
Current ratio 1,3 1,2
Acid test 0,8 0,7
RATES OF RETURN %
Total assets 1,7 0,6
Shareholders equity 7,1 3,5
Pre tax margin % 0,6 0,3
Turnover rate 300,5 202,1
(x
1) (x 1)
-------------------- -- ------------------
Working capital 4.093.987 3.968.006
Shareholders equity + Equalization acc. 4.071.007 4.186.996
-----------------------------------------------------------------------------
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 |
|