MIRA INFORM REPORT

 

 

Report Date :

28.02.2007

 

IDENTIFICATION DETAILS

 

Name :

CHINTAN GEMS

 

 

Registered Office :

Hoveniersstraat 30 B.196, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

30.06.2006

 

 

Date of Incorporation :

09.10.2002

 

 

Com. Reg. No.:

351856

 

 

Legal Form :

Private company with limited liability

 

 

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 :

68500 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

name & address

 

CHINTAN GEMS

HOVENIERSSTRAAT 30 B.196

2018 ANTWERPEN BE

Tel. Number : +32-3-2312331

 

 

summary

 

Business founded

09 October 2002

Business registered

12 November 2002 - Private company with limited liability

Business last updated

30 June 2006

Registration number,

351856, ANTWERPEN,

Value Added Tax number,

BE478554943,

Judicial form

Private company with limited lability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Maximum credit limit 68500 EUR is advised

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Total share capital30 June 2006

EUR 20000,00

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

PATEL JIGNESH KUMAR VITTHAL BHAI    Manager

Management

BHANSALI SAMIR JAYANTILAL    Partner

 

PATEL JIGNESH KUMAR VITTHAL BHAI    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 - 30 June 2006  in  EUR 16.258.000,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 - 30 June 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

6.293.000,-

Total fixed assets

291.000,-

Total tangible fixed assets

289.000,-

Land and buildings

285.000,-

Total financial fixed assets

2.000,-

Investments (long-term)

2.000,-

Total Current assets

6.002.000,-

Inventories and work in progress (incl. prepayments)

392.000,-

Accounts receivable (trade)

5.550.000,-

Cash in hand and at bank

60.000,-

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

6.293.000,-

Total equity (Shareholders' funds)

134.000,-

Issued (subscribed) capital

20.000,-

Legal reserves

2.000,-

Profit or loss carried forward

112.000,-

Total liabilities

6.159.000,-

Total long-term liabilities

224.000,-

Long-term liabilities to credit institutions

224.000,-

Total current liabilities

5.935.000,-

Current accounts payable (trade)

4.476.000,-

Current liabilities to credit institutions

2.000,-

Income and social tax liabilities

2.000,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 30 June 2006  in  EUR 

Total operating income/revenue

16.258.000,-

Main revenue (sales/turnover)

16.258.000,-

Total operating expenses

-16.164.000,-

Cost of materials (type of expenditure format)

16.030.000,-

Cost of goods sold (operational format)

16.164.000,-

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

94.000,-

Depreciation

7.000,-

Operating profit or loss

94.000,-

Financial expenses

-61.000,-

Result of ordinary operations

33.000,-

Extraordinary result

33.000,-

Taxes

-9.000,-

Net profit or loss

24.000,-

Borrowing ratio

4596,27 %

Current ratio

101,12 %

Debt gearing

167,16 %

Profit margin.

0,62 %

Quick ratio

94,52 %

Return on assets

1,33 %

Return on equity.

17,91 %

Solidity or equity ratio

2,12 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 30 June 2005  in  EUR 27.266.000,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 - 30 June 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

12.675.000,-

Total fixed assets

8.000,-

Total tangible fixed assets

6.000,-

Total financial fixed assets

2.000,-

Investments (long-term)

2.000,-

Total Current assets

12.667.000,-

Inventories and work in progress (incl. prepayments)

449.000,-

Accounts receivable (trade)

12.208.000,-

Cash in hand and at bank

10.000,-

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

12.675.000,-

Total equity (Shareholders' funds)

110.000,-

Issued (subscribed) capital

20.000,-

Legal reserves

2.000,-

Profit or loss carried forward

88.000,-

Total liabilities

12.565.000,-

Total current liabilities

12.560.000,-

Current accounts payable (trade)

11.274.000,-

Current liabilities to credit institutions

3.000,-

Income and social tax liabilities

34.000,-

Total accrued expenses and deferred income

5.000,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 30 June 2005  in  EUR 

Total operating income/revenue

27.266.000,-

Main revenue (sales/turnover)

27.266.000,-

Total operating expenses

-27.114.000,-

Cost of materials (type of expenditure format)

26.983.000,-

Cost of goods sold (operational format)

27.114.000,-

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

152.000,-

Depreciation

3.000,-

Operating profit or loss

152.000,-

Financial expenses

-80.000,-

Result of ordinary operations

72.000,-

Extraordinary result

72.000,-

Taxes

-25.000,-

Net profit or loss

47.000,-

Borrowing ratio

11422,73 %

Current ratio

100,81 %

Profit margin.

0,56 %

Quick ratio

97,27 %

Return on assets

1,20 %

Return on equity.

42,72 %

Solidity or equity ratio

0,86 %

 

PER, period regarding TUn, TRn, TXn, CPI or CPN: 00 0000 - 30 June 2004  in  EUR 14.041.857,00

 Not consolidated profit and loss turnover of the business: 

 

PER, period that the financial account covers for not consolidated balance sheet.: 00 0000 - 30 June 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

4.443.133,-

Total fixed assets

9.212,-

Total tangible fixed assets

6.962,-

Plant, machinery and equipment

480,-

Total financial fixed assets

2.250,-

Total Current assets

4.433.921,-

Inventories and work in progress (incl. prepayments)

884.859,-

Accounts receivable (trade)

3.394.792,-

Cash in hand and at bank

154.270,-

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

4.443.133,-

Total equity (Shareholders' funds)

63.500,-

Issued (subscribed) capital

20.000,-

Legal reserves

2.000,-

Profit or loss carried forward

41.500,-

Total liabilities

4.379.633,-

Total current liabilities

4.379.633,-

Current accounts payable (trade)

3.397.690,-

Income and social tax liabilities

8.000,-

 

PER, period that the financial account covers for not consolidated profit and loss account.: 00 0000 - 30 June 2004  in  EUR 

Total operating income/revenue

14.041.857,-

Main revenue (sales/turnover)

14.041.857,-

Total operating expenses

-4.102,-

Cost of goods sold (operational format)

4.102,-

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

14.037.755,-

Depreciation

3.394,-

Operating profit or loss

117.680,-

Financial income

4,-

Financial expenses

-51.184,-

Result of ordinary operations

66.500,-

Extraordinary result

66.500,-

Taxes

-23.000,-

Net profit or loss

43.500,-

Borrowing ratio

6897,06 %

Current ratio

101,23 %

Profit margin.

0,86 %

Quick ratio

81,03 %

Return on assets

2,72 %

Return on equity.

68,50 %

Solidity or equity ratio

1,42 %

 

 

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