MIRA INFORM REPORT

 

 

Report Date :

22.05.2007

 

IDENTIFICATION DETAILS

 

Name :

DHARM DIAM

 

 

Registered Office :

Hoveniersstraat 30 B.133, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

03 June 2002

 

 

Com. Reg. No.:

349976

 

 

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 :

235500 EUR

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

DHARM DIAM

HOVENIERSSTRAAT 30 B.133

2018 ANTWERPEN BE

Tel. Number    +32-3-2341445

 

 

Business founded

03 June 2002

Business registered

21 June 2002 - Private company with limited liability

Registration number,

349976, ANTWERPEN,

VAT number,

BE477689960,

Legal form

Private company with limited liability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Maximum credit limit 235500 EUR is advised

 

Cash situation (balance sheet analysis) : Good 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Total share capital31 December 2005

EUR 20000,00

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

PATEL SANDIP    Manager

Management

BHANSALI SAMIR JAYANTILAL    Partner

 

PATEL SANDIPKAMAR DAYLBHAI    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) 

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 48.964.000,00

 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

26.084.000,-

Total fixed assets

15.000,-

Total tangible fixed assets

15.000,-

Plant, machinery and equipment

3.000,-

Total Current assets

26.069.000,-

Inventories and work in progress (incl. prepayments)

18.843.000,-

Accounts receivable (trade)

6.384.000,-

Cash in hand and at bank

842.000,-

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

26.084.000,-

Total equity (Shareholders' funds)

89.000,-

Issued (subscribed) capital

20.000,-

Legal reserves

2.000,-

Profit or loss carried forward

67.000,-

Total liabilities

25.995.000,-

Total current liabilities

25.995.000,-

Current accounts payable (trade)

24.087.000,-

Current liabilities to credit institutions

2.000,-

Income and social tax liabilities

4.000,-

 

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

Total operating income/revenue

48.964.000,-

Main revenue (sales/turnover)

48.964.000,-

Total operating expenses

-48.927.000,-

Cost of materials (type of expenditure format)

47.938.000,-

Cost of goods sold (operational format)

48.927.000,-

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

37.000,-

Depreciation

2.000,-

Operating profit or loss

37.000,-

Financial expenses

-46.000,-

Result of ordinary operations

-9.000,-

Extraordinary result

-9.000,-

Taxes

-1.000,-

Net profit or loss

-10.000,-

Borrowing ratio

29207,87 %

Current ratio

100,28 %

Profit margin.

0,37 %

Quick ratio

27,79 %

Return on assets

0,70 %

Return on equity.

-11,23 %

Solidity or equity ratio

0,34 %

 

Turnover for the period: 00 0000 - 30 June 2004  in  EUR 17.086.711,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2004  in  EUR 

Total assets incl. prepaid expenses and accrued income

11.600.848,-

Total fixed assets

1.148,-

Total tangible fixed assets

1.148,-

Total Current assets

11.599.700,-

Inventories and work in progress (incl. prepayments)

4.165.321,-

Accounts receivable (trade)

6.968.051,-

Cash in hand and at bank

466.328,-

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

11.600.848,-

Total equity (Shareholders' funds)

99.049,-

Issued (subscribed) capital

20.000,-

Legal reserves

2.000,-

Profit or loss carried forward

77.049,-

Total liabilities

11.501.799,-

Total current liabilities

11.501.799,-

Current accounts payable (trade)

9.820.450,-

Current liabilities to credit institutions

20.727,-

Income and social tax liabilities

7.034,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2004  in  EUR 

Main revenue (sales/turnover)

17.086.711,-

Cost of goods sold (operational format)

655,-

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

17.086.056,-

Depreciation

383,-

Operating profit or loss

85.903,-

Financial income

271,-

Financial expenses

-14.260,-

Result of ordinary operations

71.914,-

Extraordinary result

71.914,-

Taxes

-25.134,-

Net profit or loss

46.780,-

Borrowing ratio

11612,23 %

Current ratio

100,85 %

Profit margin.

0,50 %

Quick ratio

64,63 %

Return on assets

0,74 %

Return on equity.

47,22 %

Solidity or equity ratio

0,85 %

 

Turnover for the period: 00 0000 - 30 June 2003  in  EUR 7.562.251,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2003  in  EUR 

Total assets incl. prepaid expenses and accrued income

3.759.687,-

Total fixed assets

1.530,-

Total tangible fixed assets

1.530,-

Total Current assets

3.758.157,-

Inventories and work in progress (incl. prepayments)

674.096,-

Accounts receivable (trade)

2.492.276,-

Cash in hand and at bank

591.785,-

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

3.759.687,-

Total equity (Shareholders' funds)

52.269,-

Issued (subscribed) capital

20.000,-

Legal reserves

2.000,-

Profit or loss carried forward

30.269,-

Total liabilities

3.707.418,-

Total current liabilities

3.707.418,-

Current accounts payable (trade)

2.131.328,-

Income and social tax liabilities

1.900,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2003  in  EUR 

Main revenue (sales/turnover)

7.562.251,-

Cost of goods sold (operational format)

1.651,-

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

7.560.600,-

Depreciation

1.316,-

Operating profit or loss

61.545,-

Financial income

10,-

Financial expenses

-7.386,-

Result of ordinary operations

54.169,-

Extraordinary result

54.169,-

Taxes

-21.900,-

Net profit or loss

32.269,-

Borrowing ratio

7092,96 %

Current ratio

101,36 %

Profit margin.

0,83 %

Quick ratio

83,18 %

Return on assets

1,64 %

Return on equity.

61,73 %

Solidity or equity ratio

1,39 %

 

 

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