MIRA
INFORM REPORT
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Report Date : |
08.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
KOMAL GEMS NV |
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Registered Office : |
Hoveniersstraat, 2018
Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
17.02.1989 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
Wholesale Business in
Diamonds |
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 : |
Regular |
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Litigation : |
Clear |
name & address
Komal Gems NV
Hoveniersstraat
2018 ANTWERPEN
Tel.:+32
(0)3-2269673
Fax.:+32
(0)3-2269673
Legal
status
NV Public limited company
[nat. law]
Founded
17/02/1989, P.l.c. since
29/09/1998
Trade
register
99733986
Capital
Nominal EUR 1.721.000,--
Issued and paid up EUR 1.721.000,--
Management
-Girdharbhai Gajera, Van Eyklei 45, 2018
Antwerpen
-Kasturben Gajera, Van Eycklei 45, 2018
Antwerpen.
-Laxmi Jewel (Belgium) Bvba, HOVENIERSSTRAAT
2 347 2018 ANTWERPEN 1
Activity
Wholesale business
in diamonds.
Staff
1 employee.
Turnover
Net turnover:
2006 Euro 61.460.000
2005 Euro 66.516.000
Real
estate
The business
premises at the mentioned address has been rented by the company, as far as we
know.
Finances
See balance sheet
Remarks
Net result:
2006 Euro 7.161.000
2005 Euro 100.000
The
shareholders equity was as of:
31/12/2006 Euro 9.303.000
31/12/2005 Euro 2.144.000
The working
capital was as of:
31/12/2006 Euro 8.813.000
31/12/2005 Euro 1.703.000
Banks
ABN-AMRO NV
VAT-nr.
BE436733986
Mode
of payment
Within terms
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from the
corporate balance sheet of :
Komal Gems NV
BALANCE SHEET
Corporate in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 589 569
Financial assets 14 15
Miscellaneous fixed assets 0 0
Total fixed assets 603 584
Stock 9.947 13.535
Receivables 28.256 28.602
Shares 0 0
Liquid assets 3.839 208
Miscellaneous current assets 5 5
Total current assets 42.047 42.350
Shareholders
equity 2.144 9.303
Provisions 0 0
Long-term liabilities 162 94
Current liabilities 40.344 33.537
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 42.650 42.934
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Turnover 66.516 61.460
Other income 14 14
Total expenses 65.114 53.104
Operating profit 1.416 8.370
Balance financial P/L -1.271 -851
Net profit/loss 1] 145 7.519
Taxation 45 358
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 100 7.161
Balance extraordinary P/L 0 0
Taxation 0 0
Extraordinary P/L 2] 0 0
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 100 7.161
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 5 21,7
Equity/outside
capital 5,3 27,7
LIQUIDITY
Current ratio 1 1,3
Acid test 0,8 0,9
RATES OF RETURN %
Total assets 0,3 17,5
Shareholders equity 6,8 80,8
Pre tax
margin % 0,2 12,2
Turnover rate 156 143,1
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital 1.703 8.813
Shareholders equity + Equalization acc. 2.144 9.303
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.20 |
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UK Pound |
1 |
Rs.81.48 |
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Euro |
1 |
Rs.64.27 |
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%)