MIRA
INFORM REPORT
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Report Date : |
20th
January, 2007 |
IDENTIFICATION DETAILS
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Name : |
BIJOUTERIE UNIVERSAL LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2005 |
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Date of Incorporation : |
02.02.1996 |
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Com. Reg. No.: |
15944 |
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Legal Form : |
Private
Company |
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Line of Business : |
Importer
and exporter of jewellery and stones. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
NAME OF THE COMPANY
BIJOUTERIE UNIVERSAL LTD
ADDRESS
OLD PASSENGER TERMINAL
PLAISANCE
TEL
(230) 570-1937
FAX
(230) 674-0436
EMAIL
INCORPORATED
02.02.96
STATUS
Private
CO NO.
15944
DIRECTORS & SHAREHOLDERS SHARES
Mr. Vijay MEHTA 2,500
Mr. Ajay MEHTA 2,500
ISSUED CAPITAL
RS 500,000
ACTIVITIES
Importer
and exporter of jewellery and stones.
SIZE
Subject’s
offices is based at F3 Freeport, Airport Complex, Plaine Magnien.
IMPORTS
Company
sources mainly from
EMPLOYMENT
Less than
5.
FINANCE
(2005)
Turnover:
Profit:
EPS:
OBSERVATION
Bijouterie
Universal Ltd started operating in 1996 with activities being carried out in
the Freeport of Mauritius. Subject specialises in the import/export of all
types of stones & jewellery, with main markets in Europe and
Company
has witnessed a rather rapid growth in a relatively short period of time.
Turnover increased appreciably by MUR 16.3m during the period ending 30th
June 2005, while profit before tax amounted to
PRODUCT RANGE
- Precious and semi-precious
stones
- Jewellery
REMARKS
Subject
is expanding its activities and different opportunities for export in the
region are coming up. The Jewellery and Stone Sector is fast developing in
CREDITWORTHINESS
Buyer is
trustworthy for normal business engagement.
BANKERS
Bank of
INCOME STATEMENT
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FOR THE YEAR ENDED 30 JUNE 2005 |
RS |
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Turnover |
30,660,571 |
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Cost of sales |
(27,781,249) |
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---------------------------- |
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Gross Profit |
2,879,322 |
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---------------------------- |
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Administrative expenses |
1,099,457 |
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Depreciation |
75,219 |
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1,174,676 |
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---------------------------- |
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Operating Profit |
1,704,646 |
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Net finance costs |
216,386 |
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Other income |
89,986 |
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Profit
before taxation |
2,011,018 |
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Taxation |
(246,879) |
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---------------------------- |
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Profit
after taxation |
1,764,139 |
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Balance brought forward |
4,174,573 |
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Balance
carried forward |
5,938,712 |
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Earnings per share |
RS 352.83 |
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BALANCE SHEET
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(AS AT 30 JUNE 2005) |
RS |
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ASSETS |
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NON CURRENT ASSETS |
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Property, plant and equipment |
565,156 |
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CURRENT ASSETS |
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Stock |
10,508,119 |
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Trade and other receivables |
6,264,191 |
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Cash and bank balances |
1,402,565 |
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18,174,875 |
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Total assets |
18,740,031 |
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EQUITY AND LIABILITIES |
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Capital & Reserves |
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Share Capital |
500,000 |
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Reserves |
5,938,712 |
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Shareholders' interests |
6,438,712 |
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NON CURRENT LIABILITIES |
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Deferred tax |
26,551 |
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Shareholders' loan |
149,514 |
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176,065 |
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CURRENT LIABILITIES |
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Trade and other payables |
11,671,286 |
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Dividend |
223,900 |
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Current tax liabilities |
230,068 |
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12,125,254 |
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Total equity and liabilities |
18,740,031 |
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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/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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