MIRA INFORM REPORT

 

 

Report Date :

25.09.2007

 

IDENTIFICATION DETAILS

 

Name :

DIAMOND CREATIONS

 

 

Registered Office :

Schupstraat 20 B.12, 2018 Antwerpen Be

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

21 March 1995

 

 

Com. Reg. No.:

309477

 

 

Legal Form :

Private company limited by shares

 

 

Line of Business :

Manufacture of jewellery and related articles

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

DIAMOND CREATIONS

SCHUPSTRAAT 20 B.12

2018 ANTWERPEN BE

Tel. Number       +32-3-2316117

Fax number       +32-3-2323649

 

 

Business founded

21 March 1995

Business registered

28 April 1995 - Private company limited by shares

Registration number,

309477, ANTWERPEN,

VAT number,

BE454918221,

Legal form

Private company limited by shares

Activities

Manufacture of jewellery and related articles

Payment experience

no complaints have been registered

Credit opinion

Credit opinion

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Currently fulfilled 

 

Payment defaults : None 

Employees (Business)

 4

Total share capital31 December 2006

EUR 30987,00

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

VAN MELKEBEKE PASCALE    Deputy managing director

 

AGARWAL KEDIA SANTOSH    Deputy boardmember

 

KEDIA PINKY    Boardmember

 

SONTHALIA RATUL    Boardmember

 

KEDIA RAJKUMAR    Boardmember

 

 

 

The business owns or partly owns one or more pieces of land and buildings?  Yes(Property) 

 

Turnover for the period: 00 0000 - 31 December 2006  in  EUR 88.835.403,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 31 December 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

25.510.137,-

Total fixed assets

604.448,-

Total tangible fixed assets

602.168,-

Land and buildings

401.163,-

Plant, machinery and equipment

88.912,-

Total financial fixed assets

2.281,-

Investments (long-term)

2.281,-

Total Current assets

24.905.689,-

Inventories and work in progress (incl. prepayments)

12.833.189,-

Accounts receivable (trade)

12.055.000,-

Cash in hand and at bank

5.625,-

Total accrued income and prepaid expenses

11.875,-

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

25.510.137,-

Total equity (Shareholders' funds)

5.010.240,-

Issued (subscribed) capital

30.987,-

Profit reserves

381.904,-

Statutory reserves

4.582.501,-

Legal reserves

14.849,-

Total liabilities

20.499.897,-

Total long-term liabilities

2.847.380,-

Long-term Loans, Mortgage debts

2.847.380,-

Total current liabilities

17.652.517,-

Current accounts payable (trade)

13.917.290,-

Current liabilities to credit institutions

2.056.135,-

Income and social tax liabilities

214.378,-

 

Corporate profit and loss account for the year: 00 0000 - 31 December 2006  in  EUR 

Total operating income/revenue

88.963.127,-

Main revenue (sales/turnover)

88.835.403,-

Total operating expenses

89.050.785,-

Cost of materials (type of expenditure format)

88.508.839,-

Cost of goods sold (operational format)

89.050.785,-

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

-87.657,-

Personnel costs

167.236,-

Depreciation

61.345,-

Operating profit or loss

-87.657,-

Financial income

3.414.624,-

Financial expenses

2.916.516,-

Result of ordinary operations

410.450,-

Extraordinary expenses

50,-

Extraordinary result

410.400,-

Taxes

320.147,-

Net profit or loss

90.253,-

Borrowing ratio

408,58 %

Current ratio

141,08 %

Debt gearing

56,75 %

Profit margin.

-0,02 %

Quick ratio

68,32 %

Return on assets

2,66 %

Return on equity.

1,80 %

Solidity or equity ratio

19,64 %

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 112.378.000,00

 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

25.263.000,-

Total fixed assets

644.000,-

Total tangible fixed assets

642.000,-

Land and buildings

407.000,-

Plant, machinery and equipment

99.000,-

Total financial fixed assets

2.000,-

Investments (long-term)

2.000,-

Total Current assets

24.619.000,-

Inventories and work in progress (incl. prepayments)

6.875.000,-

Accounts receivable (trade)

17.599.000,-

Cash in hand and at bank

134.000,-

Total accrued income and prepaid expenses

11.000,-

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

25.263.000,-

Total equity (Shareholders' funds)

416.000,-

Issued (subscribed) capital

31.000,-

Profit reserves

382.000,-

Legal reserves

3.000,-

Total liabilities

24.847.000,-

Total long-term liabilities

3.178.000,-

Long-term Loans, Mortgage debts

3.178.000,-

Total current liabilities

21.666.000,-

Current accounts payable (trade)

14.072.000,-

Current liabilities to credit institutions

4.808.000,-

Income and social tax liabilities

141.000,-

Total accrued expenses and deferred income

3.000,-

 

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

Total operating income/revenue

112.523.000,-

Main revenue (sales/turnover)

112.378.000,-

Total operating expenses

-111.698.000,-

Cost of materials (type of expenditure format)

111.114.000,-

Cost of goods sold (operational format)

111.698.000,-

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

825.000,-

Personnel costs

123.000,-

Depreciation

66.000,-

Operating profit or loss

825.000,-

Financial income

3.951.000,-

Financial expenses

-4.524.000,-

Result of ordinary operations

252.000,-

Extraordinary income

18.000,-

Extraordinary expenses

-1.000,-

Extraordinary result

269.000,-

Taxes

-84.000,-

Net profit or loss

185.000,-

Borrowing ratio

5972,84 %

Current ratio

113,61 %

Debt gearing

763,94 %

Profit margin.

0,79 %

Quick ratio

81,84 %

Return on assets

2,48 %

Return on equity.

44,47 %

Solidity or equity ratio

1,64 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 86.053.000,00

 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

17.913.000,-

Total fixed assets

700.000,-

Total tangible fixed assets

698.000,-

Land and buildings

429.000,-

Plant, machinery and equipment

110.000,-

Total financial fixed assets

2.000,-

Investments (long-term)

2.000,-

Total Current assets

17.213.000,-

Inventories and work in progress (incl. prepayments)

4.315.000,-

Accounts receivable (trade)

12.829.000,-

Cash in hand and at bank

60.000,-

Total accrued income and prepaid expenses

9.000,-

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

17.913.000,-

Total equity (Shareholders' funds)

321.000,-

Issued (subscribed) capital

31.000,-

Profit reserves

287.000,-

Legal reserves

3.000,-

Total liabilities

17.592.000,-

Total long-term liabilities

2.203.000,-

Long-term Loans, Mortgage debts

2.203.000,-

Total current liabilities

15.389.000,-

Current accounts payable (trade)

8.490.000,-

Current liabilities to credit institutions

3.518.000,-

Income and social tax liabilities

78.000,-

 

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

Total operating income/revenue

86.202.000,-

Main revenue (sales/turnover)

86.053.000,-

Total operating expenses

-85.965.000,-

Cost of materials (type of expenditure format)

85.425.000,-

Cost of goods sold (operational format)

85.965.000,-

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

237.000,-

Personnel costs

61.000,-

Depreciation

52.000,-

Operating profit or loss

237.000,-

Financial income

3.513.000,-

Financial expenses

-3.534.000,-

Result of ordinary operations

216.000,-

Extraordinary result

216.000,-

Taxes

-47.000,-

Net profit or loss

169.000,-

Borrowing ratio

5480,37 %

Current ratio

111,85 %

Debt gearing

686,29 %

Profit margin.

0,33 %

Quick ratio

83,75 %

Return on assets

2,61 %

Return on equity.

52,64 %

Solidity or equity ratio

1,79 %

 

 

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.

 

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