MIRA
INFORM REPORT
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Report Date : |
25th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
KAY
DIAMONDS |
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Registered Office : |
Vestingstraat 74, 2018 Antwerpen Be |
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Country : |
Belgium |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
29 July 1998 |
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Com. Reg. No.: |
330507 |
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Legal Form : |
Private Company Limited By Shares |
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Line of Business : |
Wholesalers of miscellaneous intermediate
products |
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 : |
Regular
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Litigation : |
Clear |
NAME & ADDRESS
KAY DIAMONDS
VESTINGSTRAAT 74
2018 ANTWERPEN BE
Tel. Number +32-3-2325675
Fax number +32-3-2274574
Business founded
29 July
1998
Business registered
27
August 1998 - Private company limited by shares
Business last updated
31
December 2005
Registration number
330507,
ANTWERPEN
Value Added Tax number
BE463947634
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 :133500
EUR is advised
Cash situation
(balance sheet analysis) : Limited
Profitability
(balance sheet analysis) : Nil
Commitments
(regarding contractual obligations) : Currently
fulfilled
Payment
defaults : None
Employees (Business)
6
Total share capital
31 December
2005 EUR 350000,00
Bank
BANQUE
DIAMANTAIRE ANVERSOISE
Boardmembers
MEHTA
CHETAN Deputy
boardmember
MEHTA PRABODH
Deputy
boardmember
MEHTA RASHMI
Deputy
boardmember
MEHTA BHAVIN
Deputy
boardmember
Management
MEHTA CHETAN Partner
MEHTA PRABODH
Partner
MEHTA BHAVIN
Partner
MEHTA RASHMI
Partner
TOELEN LUC
Representative
and auditor
Auditor
TCLM
TOELEN CATS MORLIE & CO Auditors´ president
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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 32.729.000,00 |
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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 |
24.464.000,- |
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Total fixed assets |
115.000,- |
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Total tangible fixed assets |
110.000,- |
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Plant, machinery and equipment |
48.000,- |
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Total Current assets |
24.349.000,- |
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Inventories and work in progress (incl.
prepayments) |
9.482.000,- |
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Accounts receivable (trade) |
14.834.000,- |
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Cash in hand and at bank |
33.000,- |
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Total equity, provisions, liabilities, accrued
expenses and deferred income |
24.464.000,- |
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Total equity (Shareholders' funds) |
583.000,- |
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Issued (subscribed) capital |
350.000,- |
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Profit reserves |
205.000,- |
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Legal reserves |
28.000,- |
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Total liabilities |
23.881.000,- |
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Total current liabilities |
23.855.000,- |
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Current accounts payable (trade) |
15.054.000,- |
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Current liabilities to credit institutions |
8.550.000,- |
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Income and social tax liabilities |
31.000,- |
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Total accrued expenses and deferred income |
26.000,- |
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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 |
32.744.000,- |
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Main revenue (sales/turnover) |
32.729.000,- |
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Total operating expenses |
-31.765.000,- |
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Cost of materials (type of expenditure format) |
30.399.000,- |
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Cost of goods sold (operational format) |
31.765.000,- |
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Gross profit or loss after cost of materials or
after cost of goods sold |
979.000,- |
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Personnel costs |
364.000,- |
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Depreciation |
33.000,- |
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Operating profit or loss |
979.000,- |
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Financial income |
49.000,- |
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Financial expenses |
-834.000,- |
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Result of ordinary operations |
194.000,- |
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Extraordinary income |
1.000,- |
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Extraordinary expenses |
-132.000,- |
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Extraordinary result |
63.000,- |
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Taxes |
-41.000,- |
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Net profit or loss |
22.000,- |
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Borrowing ratio |
4096,23 % |
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Current ratio |
101,95 % |
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Profit margin. |
3,09 % |
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Quick ratio |
62,32 % |
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Return on assets |
2,39 % |
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Return on equity. |
3,77 % |
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Solidity or equity ratio |
2,38 % |
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PER, period
regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2004 in
EUR 30.064.000,00 |
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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 |
18.527.000,- |
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Total fixed assets |
209.000,- |
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Total tangible fixed assets |
134.000,- |
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Plant, machinery and equipment |
56.000,- |
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Total financial fixed assets |
75.000,- |
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Investments (long-term) |
75.000,- |
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Total Current assets |
18.318.000,- |
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Inventories and work in progress (incl.
prepayments) |
7.738.000,- |
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Accounts receivable (trade) |
10.551.000,- |
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Cash in hand and at bank |
28.000,- |
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Total accrued income and prepaid expenses |
1.000,- |
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Total equity, provisions, liabilities, accrued
expenses and deferred income |
18.527.000,- |
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Total equity (Shareholders' funds) |
291.000,- |
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Issued (subscribed) capital |
62.000,- |
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Profit reserves |
223.000,- |
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Legal reserves |
6.000,- |
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Total liabilities |
18.236.000,- |
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Total current liabilities |
18.226.000,- |
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Current accounts payable (trade) |
11.674.000,- |
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Current liabilities to credit institutions |
6.243.000,- |
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Income and social tax liabilities |
53.000,- |
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Total accrued expenses and deferred income |
10.000,- |
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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 |
30.175.000,- |
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Main revenue (sales/turnover) |
30.064.000,- |
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Total operating expenses |
-30.304.000,- |
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Cost of materials (type of expenditure format) |
29.091.000,- |
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Cost of goods sold (operational format) |
30.304.000,- |
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Gross profit or loss after cost of materials or
after cost of goods sold |
-129.000,- |
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Personnel costs |
345.000,- |
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Depreciation |
29.000,- |
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Operating profit or loss |
-129.000,- |
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Financial income |
609.000,- |
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Financial expenses |
-397.000,- |
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Result of ordinary operations |
83.000,- |
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Extraordinary result |
83.000,- |
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Taxes |
-26.000,- |
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Net profit or loss |
57.000,- |
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Borrowing ratio |
6266,67 % |
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Current ratio |
100,44 % |
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Profit margin. |
-0,33 % |
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Quick ratio |
58,04 % |
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Return on assets |
2,39 % |
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Return on equity. |
19,58 % |
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Solidity or equity ratio |
1,57 % |
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PER, period
regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 31 December 2003 in
EUR 34.491.000,00 |
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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 |
20.322.000,- |
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Total fixed assets |
169.000,- |
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Total tangible fixed assets |
95.000,- |
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Plant, machinery and equipment |
66.000,- |
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Total financial fixed assets |
74.000,- |
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Investments (long-term) |
74.000,- |
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Total Current assets |
20.153.000,- |
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Inventories and work in progress (incl.
prepayments) |
7.664.000,- |
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Accounts receivable (trade) |
12.453.000,- |
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Cash in hand and at bank |
33.000,- |
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Total accrued income and prepaid expenses |
3.000,- |
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Total equity, provisions, liabilities, accrued
expenses and deferred income |
20.322.000,- |
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Total equity (Shareholders' funds) |
234.000,- |
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Issued (subscribed) capital |
62.000,- |
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Profit reserves |
166.000,- |
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Legal reserves |
6.000,- |
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Total liabilities |
20.088.000,- |
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Total current liabilities |
20.088.000,- |
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Current accounts payable (trade) |
13.027.000,- |
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Current liabilities to credit institutions |
6.591.000,- |
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Income and social tax liabilities |
49.000,- |
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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 |
34.491.000,- |
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Main revenue (sales/turnover) |
34.491.000,- |
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Total operating expenses |
-34.165.000,- |
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Cost of materials (type of expenditure format) |
33.140.000,- |
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Cost of goods sold (operational format) |
34.165.000,- |
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Gross profit or loss after cost of materials or
after cost of goods sold |
326.000,- |
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Personnel costs |
191.000,- |
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Depreciation |
31.000,- |
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Operating profit or loss |
326.000,- |
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Financial income |
102.000,- |
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Financial expenses |
-359.000,- |
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Result of ordinary operations |
69.000,- |
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Extraordinary result |
69.000,- |
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Taxes |
-25.000,- |
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Net profit or loss |
44.000,- |
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Borrowing ratio |
8584,62 % |
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Current ratio |
100,32 % |
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Profit margin. |
1,03 % |
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Quick ratio |
62,15 % |
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Return on assets |
1,78 % |
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Return on equity. |
18,80 % |
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Solidity or equity ratio |
1,15 % |
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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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