MIRA INFORM REPORT

 

 

Report Date :

30.06.2007

 

IDENTIFICATION DETAILS

 

Name :

SHIVANI GEMS

 

 

Registered Office :

Schupstraat 1 B.7 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

22 January 1982

 

 

Com. Reg. No.:

231506

 

 

Legal Form :

Partnership 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 :

72500 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

SHIVANI GEMS

SCHUPSTRAAT 1 B.7

2018 ANTWERPEN BE

Tel. Number       +32-3-2311686

Fax number       +32-3-2325852

 

 

Business founded

22 January 1982

Business registered

22 January 1982 - Partnership limited by shares

Registration number,

231506, ANTWERPEN,

VAT number,

BE422531406,

Legal form

Partnership limited by shares

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Maximum credit limit 72500 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)

 1

Total share capital 31 December 2005

EUR 694000,00

Branch office(s)

SCHUPSTRAAT 1 7 B.511,2018 ANTWERPEN   

Boardmembers

SHAH SHITAL    Manager

 

SHAH KUMARPAL    Manager

Management

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) 

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 15.483.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

11.013.000,-

Total fixed assets

692.000,-

Total tangible fixed assets

686.000,-

Land and buildings

612.000,-

Plant, machinery and equipment

13.000,-

Total financial fixed assets

6.000,-

Investments (long-term)

6.000,-

Total Current assets

10.321.000,-

Inventories and work in progress (incl. prepayments)

4.672.000,-

Accounts receivable (trade)

5.636.000,-

Cash in hand and at bank

11.000,-

Total accrued income and prepaid expenses

2.000,-

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

11.013.000,-

Total equity (Shareholders' funds)

834.000,-

Issued (subscribed) capital

694.000,-

Legal reserves

65.000,-

Profit or loss carried forward

75.000,-

Total liabilities

10.179.000,-

Total long-term liabilities

3.642.000,-

Long-term liabilities to credit institutions

251.000,-

Total current liabilities

6.537.000,-

Current accounts payable (trade)

5.744.000,-

Current liabilities to credit institutions

181.000,-

Income and social tax liabilities

11.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2005  in  EUR 

Total operating income/revenue

15.496.000,-

Main revenue (sales/turnover)

15.483.000,-

Total operating expenses

-15.130.000,-

Cost of materials (type of expenditure format)

14.803.000,-

Cost of goods sold (operational format)

15.130.000,-

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

366.000,-

Personnel costs

25.000,-

Depreciation

47.000,-

Operating profit or loss

366.000,-

Financial expenses

-344.000,-

Result of ordinary operations

22.000,-

Extraordinary income

20.000,-

Extraordinary result

42.000,-

Taxes

-15.000,-

Net profit or loss

27.000,-

Borrowing ratio

1220,50 %

Current ratio

157,88 %

Debt gearing

436,69 %

Profit margin.

2,66 %

Quick ratio

86,38 %

Return on assets

3,93 %

Return on equity.

3,23 %

Solidity or equity ratio

7,57 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 12.833.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

8.753.000,-

Total fixed assets

727.000,-

Total tangible fixed assets

721.000,-

Land and buildings

629.000,-

Plant, machinery and equipment

17.000,-

Total financial fixed assets

6.000,-

Investments (long-term)

6.000,-

Total Current assets

8.026.000,-

Inventories and work in progress (incl. prepayments)

3.262.000,-

Accounts receivable (trade)

4.566.000,-

Cash in hand and at bank

189.000,-

Total accrued income and prepaid expenses

9.000,-

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

8.753.000,-

Total equity (Shareholders' funds)

807.000,-

Issued (subscribed) capital

694.000,-

Legal reserves

45.000,-

Profit or loss carried forward

68.000,-

Total liabilities

7.946.000,-

Total long-term liabilities

3.219.000,-

Long-term Loans, Mortgage debts

2.937.000,-

Long-term liabilities to credit institutions

282.000,-

Total current liabilities

4.569.000,-

Current accounts payable (trade)

3.337.000,-

Income and social tax liabilities

5.000,-

Total accrued expenses and deferred income

158.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2004  in  EUR 

Total operating income/revenue

12.930.000,-

Main revenue (sales/turnover)

12.833.000,-

Total operating expenses

-12.622.000,-

Cost of materials (type of expenditure format)

12.296.000,-

Cost of goods sold (operational format)

12.622.000,-

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

308.000,-

Personnel costs

23.000,-

Depreciation

41.000,-

Operating profit or loss

308.000,-

Financial income

1.000,-

Financial expenses

-289.000,-

Result of ordinary operations

20.000,-

Extraordinary result

20.000,-

Taxes

-8.000,-

Net profit or loss

12.000,-

Borrowing ratio

984,63 %

Current ratio

169,79 %

Debt gearing

398,88 %

Profit margin.

2,69 %

Quick ratio

104,07 %

Return on assets

3,74 %

Return on equity.

1,48 %

Solidity or equity ratio

9,21 %

 

Turnover for the period: 00 0000 - 31 December 2003  in  EUR 15.328.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

10.454.000,-

Total fixed assets

336.000,-

Total tangible fixed assets

330.000,-

Land and buildings

279.000,-

Plant, machinery and equipment

2.000,-

Total financial fixed assets

6.000,-

Investments (long-term)

6.000,-

Total Current assets

10.118.000,-

Inventories and work in progress (incl. prepayments)

3.474.000,-

Accounts receivable (trade)

6.418.000,-

Cash in hand and at bank

226.000,-

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

10.454.000,-

Total equity (Shareholders' funds)

795.000,-

Issued (subscribed) capital

694.000,-

Legal reserves

41.000,-

Profit or loss carried forward

60.000,-

Total liabilities

9.659.000,-

Total long-term liabilities

3.195.000,-

Long-term Loans, Mortgage debts

3.167.000,-

Long-term liabilities to credit institutions

28.000,-

Total current liabilities

6.268.000,-

Current accounts payable (trade)

5.929.000,-

Current liabilities to credit institutions

57.000,-

Income and social tax liabilities

5.000,-

Total accrued expenses and deferred income

196.000,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2003  in  EUR 

Total operating income/revenue

15.358.000,-

Main revenue (sales/turnover)

15.328.000,-

Total operating expenses

-15.060.000,-

Cost of materials (type of expenditure format)

14.641.000,-

Cost of goods sold (operational format)

15.060.000,-

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

298.000,-

Personnel costs

37.000,-

Depreciation

21.000,-

Operating profit or loss

298.000,-

Financial expenses

-295.000,-

Result of ordinary operations

3.000,-

Extraordinary result

3.000,-

Taxes

-2.000,-

Net profit or loss

1.000,-

Borrowing ratio

1214,97 %

Current ratio

156,52 %

Debt gearing

401,89 %

Profit margin.

2,32 %

Quick ratio

105,99 %

Return on assets

3,38 %

Return on equity.

0,12 %

Solidity or equity ratio

7,60 %

 

 

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

 

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

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