MIRA
INFORM REPORT
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Report Date : |
09.10.2007 |
IDENTIFICATION DETAILS
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Name : |
MIRAGE
COLLECTIONS |
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Registered Office : |
Jan Janssensstraat 7, 2610 Wilrijk Be |
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Country : |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
25 February 1999 |
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Com. Reg. No.: |
336292 |
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Legal Form : |
Private Company with
limited liability |
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Line of Business : |
Wholesale 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 : |
Slow but correct |
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Litigation : |
Clear |
name & address
MIRAGE COLLECTIONS
JAN JANSSENSSTRAAT 7
2610 WILRIJK BE
Tel. Number +32-3-2269720
Fax number +32-3-2313756
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Business founded |
25 February 1999 |
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Business registered |
29 October 1999 - Private
company with limited liability |
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Registration number, |
336292, ANTWERPEN, |
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VAT number, |
BE465595050, |
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Legal form |
Private company with
limited liability |
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Activities |
Wholesale of
miscellaneous intermediate products |
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Payment experience |
Difficult |
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Credit opinion |
No objections against
entering into a business relationship; due to the slow payments we do
recommend you to monitor the developments. |
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Cash situation (balance
sheet analysis) : |
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Profitability (balance
sheet analysis) : Medium |
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Commitments (regarding
contractual obligations) : Not respected |
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Payment defaults : Numerous |
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Employees (Business) |
1 |
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Total share capital 30 June 2006 |
EUR 18600,00 |
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Branch office(s) |
LAMORINIERESTRAAT 162,2018 ANTWERPEN |
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Bank |
DEXIA BANK |
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Boardmembers |
BADER KOMAL KUMAR Manager |
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Management |
HIRAWAT DHIRENDRA Partner |
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BADER KOMAL KUMAR Partner |
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The business owns or
partly owns one or more pieces of land and buildings? Yes(Property)
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Turnover for the
period: 00 0000 - 30 June 2006 in EUR 1.700.629,00 |
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Not consolidated
profit and loss turnover of the business: |
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Corporate balance sheet
for the year: 00 0000 - 30 June 2006 in EUR |
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Total assets incl.
prepaid expenses and accrued income |
1.536.312,- |
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Total fixed assets |
884,- |
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Total tangible fixed assets |
884,- |
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Plant, machinery and equipment |
884,- |
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Total Current assets |
1.535.428,- |
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Inventories and work in
progress (incl. prepayments) |
1.160.699,- |
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Accounts receivable (trade) |
366.813,- |
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Cash in hand and at bank |
7.916,- |
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Total equity, provisions,
liabilities, accrued expenses and deferred income |
1.536.312,- |
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Total equity (Shareholders' funds) |
83.009,- |
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Issued (subscribed) capital |
18.600,- |
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Profit reserves |
62.549,- |
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Legal reserves |
1.860,- |
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Total liabilities |
1.453.303,- |
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Total current liabilities |
1.453.303,- |
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Current accounts payable (trade) |
1.248.540,- |
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Income and social tax
liabilities |
21.108,- |
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Corporate profit and loss
account for the year: 00 0000 - 30 June 2006 in EUR |
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Main revenue (sales/turnover) |
1.700.629,- |
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Cost of goods sold
(operational format) |
1.611.310,- |
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Personnel costs |
28.463,- |
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Depreciation |
3.098,- |
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Operating profit or loss |
89.319,- |
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Financial income |
114.808,- |
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Financial expenses |
-151.706,- |
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Result of ordinary operations |
52.421,- |
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Extraordinary result |
52.421,- |
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Taxes |
-21.372,- |
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Net profit or loss |
31.049,- |
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Borrowing ratio |
1750,78 % |
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Current ratio |
105,65 % |
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Profit margin. |
5,43 % |
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Quick ratio |
25,78 % |
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Return on assets |
13,48 % |
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Return on equity. |
37,40 % |
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Solidity or equity ratio |
5,40 % |
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Turnover for the
period: 00 0000 - 30 June 2005 in EUR 106.187,00 |
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Not consolidated
profit and loss turnover of the business: |
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Corporate balance sheet
for the year: 00 0000 - 30 June 2005 in EUR |
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Total assets incl.
prepaid expenses and accrued income |
2.484.217,- |
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Total fixed assets |
3.982,- |
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Total tangible fixed assets |
3.982,- |
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Plant, machinery and equipment |
3.982,- |
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Total Current assets |
2.480.235,- |
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Inventories and work in
progress (incl. prepayments) |
2.291.534,- |
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Accounts receivable (trade) |
179.058,- |
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Cash in hand and at bank |
9.643,- |
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Total equity, provisions,
liabilities, accrued expenses and deferred income |
2.484.217,- |
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Total equity (Shareholders' funds) |
51.960,- |
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Issued (subscribed) capital |
18.600,- |
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Profit reserves |
31.500,- |
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Legal reserves |
1.860,- |
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Total liabilities |
2.432.257,- |
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Total current liabilities |
2.432.123,- |
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Current accounts payable (trade) |
2.220.521,- |
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Current liabilities to credit institutions |
4.602,- |
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Income and social tax
liabilities |
22.007,- |
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Total accrued expenses
and deferred income |
134,- |
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Corporate profit and loss
account for the year: 00 0000 - 30 June 2005 in EUR |
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Main revenue (sales/turnover) |
106.187,- |
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Cost of goods sold
(operational format) |
273.302,- |
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Personnel costs |
28.885,- |
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Depreciation |
3.098,- |
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Operating profit or loss |
-104.954,- |
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Financial income |
238.325,- |
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Financial expenses |
-127.277,- |
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Result of ordinary operations |
6.094,- |
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Extraordinary expenses |
-3.114,- |
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Extraordinary result |
2.980,- |
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Taxes |
-1.500,- |
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Net profit or loss |
1.480,- |
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Borrowing ratio |
4681,02 % |
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Current ratio |
101,97 % |
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Profit margin. |
-95,92 % |
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Quick ratio |
7,75 % |
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Return on assets |
5,36 % |
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Return on equity. |
2,84 % |
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Solidity or equity ratio |
2,09 % |
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Turnover for the
period: 00 0000 - 30 June 2004 in EUR 6.751.903,00 |
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Not consolidated
profit and loss turnover of the business: |
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Corporate balance sheet
for the year: 00 0000 - 30 June 2004 in EUR |
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Total assets incl. prepaid
expenses and accrued income |
2.285.906,- |
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Total fixed assets |
13.500,- |
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Total tangible fixed assets |
13.500,- |
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Plant, machinery and equipment |
7.081,- |
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Total Current assets |
2.272.406,- |
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Inventories and work in progress
(incl. prepayments) |
1.870.228,- |
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Accounts receivable (trade) |
383.925,- |
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Cash in hand and at bank |
17.711,- |
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Total accrued income and
prepaid expenses |
542,- |
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Total equity, provisions,
liabilities, accrued expenses and deferred income |
2.285.906,- |
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Total equity (Shareholders' funds) |
50.480,- |
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Issued (subscribed) capital |
18.600,- |
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Profit reserves |
30.021,- |
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Legal reserves |
1.859,- |
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Total liabilities |
2.235.426,- |
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Total current liabilities |
2.235.426,- |
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Current accounts payable (trade) |
2.031.091,- |
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Income and social tax
liabilities |
9.590,- |
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Corporate profit and loss
account for the year: 00 0000 - 30 June 2004 in EUR |
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Main revenue (sales/turnover) |
6.751.903,- |
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Cost of goods sold (operational
format) |
6.851.950,- |
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Personnel costs |
27.139,- |
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Depreciation |
5.994,- |
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Operating profit or loss |
-100.047,- |
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Financial income |
1.346.318,- |
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Financial expenses |
-1.221.763,- |
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Result of ordinary operations |
24.508,- |
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Extraordinary result |
24.508,- |
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Taxes |
-13.684,- |
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Net profit or loss |
10.824,- |
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Borrowing ratio |
4428,34 % |
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Current ratio |
101,65 % |
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Profit margin. |
-1,39 % |
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Quick ratio |
17,96 % |
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Return on assets |
54,78 % |
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Return on equity. |
21,44 % |
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Solidity or equity ratio |
2,20 % |
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. |
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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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%)