MIRA
INFORM REPORT
|
Report Date : |
01.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GLORIOUS GEMS BVBA |
|
|
|
|
Registered Office : |
30
Hoveniersstraat Antwerpen 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
28.10.1997 |
|
|
|
|
Com. Reg. No.: |
461869854 |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale
of Diamonds and Other Precious Stones |
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 |
Company
Summary
|
COMPANY SUMMARY |
|
|
Business Name |
GLORIOUS GEMS BVBA |
|
Business Number |
461869854 |
|
Address |
30 HOVENIERSSTRAAT ANTWERPEN |
|
Post Code |
2018 |
|
Telephone |
032317406 |
|
Fax Number |
032272094 |
|
Date of Establishment |
28-10-1997 |
|
Number of Employees |
1 |
|
|
|
|
CREDIT INFORMATION SUMMARY |
|
|
Date of Deposit at Registry |
12-06-2008 |
|
Date of Last Accounts |
31-12-2007 |
|
Turnover |
63,581,283 |
|
Results of Ordinary Operations Before Tax |
142,462 |
|
Networth |
8,065,884 |
|
|
|
|
PAST PAYMENTS |
|
|
Payment Expectation Days |
32.43 |
|
Days Sales Outstanding |
121.95 |
|
Industry Average Payment Expectation Days |
128.46 |
|
Industry Average Day Sales Outstanding |
112.44 |
|
|
|
|
COURT DATA SUMMARY |
|
|
bankruptcy
details |
|
|
Court Action Type |
None |
|
Protested
Bills |
|
|
Bill Amount |
|
|
NSSO Details |
|
|
Date of Summons |
-- |
Company
Information
|
COMPANY DETAILS |
|
|
Business Number |
461869854 |
|
Name |
GLORIOUS GEMS BVBA |
|
Fax Number |
032272094 |
|
Establishment Date |
28-10-1997 |
|
Company Status |
ACTIVE |
|
Company Type |
Private limited liability company |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
|
|
|
LATEST BRANCH DETAILS |
|
|
Street |
LANGE HERENTALSESTRAAT |
|
House Number |
122 |
|
City |
ANTWERPEN |
|
Postal Code |
2018 |
|
Trade Registered Number |
325743 |
|
Trade Registered Entry Date |
01-11-1997 |
|
CONTRACTOR DETAILS |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
LATEST EVENT |
|
|
Serial Number |
99911 |
|
Event Description |
Appointment commissioner |
|
|
|
Accounts
& Ratio
|
PERIOD |
|||||
|
Accounts End Date |
31-12-2007 |
% |
31-12-2006 |
% |
31-12-2005 |
|
Weeks |
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
PROFIT & LOSS |
|||||
|
Turnover |
63,581,283 |
-22.4% |
81,966,185 |
0.6% |
81,457,000 |
|
Total Operating Expenses |
62,378,325 |
-23.0% |
81,021,733 |
0.4% |
80,685,000 |
|
Operating Result |
1,202,958 |
27.4% |
944,452 |
22.3% |
772,000 |
|
Total Financial Income |
502 |
340.4% |
114 |
- |
- |
|
Total Financial Expenses |
1,060,998 |
30.7% |
812,074 |
26.7% |
641,000 |
|
Results on Ordinary Operations Before Tax |
142,462 |
7.5% |
132,492 |
1.1% |
131,000 |
|
Taxation |
17,030 |
-94.2% |
294,336 |
554.1% |
45,000 |
|
Results on Ordinary Operations After Tax |
125,432 |
177.5% |
-161,844 |
-288.2% |
86,000 |
|
Extraordinary Items |
0 |
-100.0% |
6,040,472 |
- |
0 |
|
Net Result |
125,432 |
-97.9% |
5,878,628 |
6,735.6% |
86,000 |
|
Other Information |
|||||
|
Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
- |
- |
|
Employee Costs |
28,721 |
166.7% |
10,768 |
-10.3% |
12,000 |
|
- Wages & Salaries |
26,143 |
148.0% |
10,540 |
-4.2% |
11,000 |
|
- Social Security Contributions |
2,416 |
- |
- |
- |
1,000 |
|
- Other Employee Costs |
162 |
-28.9% |
228 |
- |
- |
|
Amortization & Depreciation |
41,572 |
-3.4% |
43,051 |
34.5% |
32,000 |
|
BALANCE SHEET |
|||||
|
Accounts End Date |
31-12-2007 |
% |
31-12-2006 |
% |
31-12-2005 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
0 |
- |
0 |
- |
0 |
|
Tangible Fixed Assets |
600,030 |
-6.7% |
642,828 |
-5.3% |
679,000 |
|
- Land And Buildings |
551,545 |
-4.0% |
574,231 |
-3.8% |
597,000 |
|
- Plant And Machinery |
19,939 |
-9.8% |
22,095 |
-7.9% |
24,000 |
|
- Other Tangible Assets |
28,546 |
-38.6% |
46,502 |
-19.8% |
58,000 |
|
Financial Fixed Assets |
125 |
0.0% |
125 |
- |
0 |
|
Total Fixed Assets |
600,155 |
-6.7% |
642,953 |
-5.3% |
679,000 |
|
Inventories |
|||||
|
- Raw Materials & Consumables |
0 |
- |
0 |
- |
0 |
|
- Work in Progress |
0 |
- |
0 |
- |
0 |
|
- Finished Goods |
0 |
- |
0 |
- |
0 |
|
- Other Stocks |
4,492,393 |
-39.3% |
7,396,655 |
70.7% |
4,333,000 |
|
Trade Debtors |
21,242,674 |
-20.7% |
26,793,822 |
-16.1% |
31,919,000 |
|
Cash |
530,223 |
303.3% |
131,474 |
-27.8% |
182,000 |
|
- Miscellaneous Current Assets |
88,246 |
-1.2% |
89,316 |
-9.8% |
99,000 |
|
Total Current Assets |
26,353,536 |
-23.4% |
34,411,267 |
-5.8% |
36,533,000 |
|
|
|||||
|
- Trade Creditors |
5,542,974 |
-56.8% |
12,826,996 |
-36.4% |
20,166,000 |
|
- Short Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Short Term Loans |
1,443,422 |
-81.0% |
7,608,247 |
-10.4% |
8,494,000 |
|
- Miscellaneous Current Liabilities |
5,949,853 |
13,670.9% |
43,206 |
-96.7% |
1,300,000 |
|
Total Current Liabilities |
12,936,249 |
-36.8% |
20,478,449 |
-31.6% |
29,960,000 |
|
|
|||||
|
- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Loans |
5,886,600 |
-10.3% |
6,562,711 |
26.4% |
5,190,000 |
|
- Other Long Term Liabilities |
64,958 |
-10.5% |
72,608 |
- |
0 |
|
Total Long Term Debts |
5,951,558 |
-10.3% |
6,635,319 |
27.8% |
5,190,000 |
|
|
|||||
|
- Issued Share Capital |
1,800,000 |
0.0% |
1,800,000 |
0.0% |
1,800,000 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
6,265,884 |
2.0% |
6,140,452 |
2,243.7% |
262,000 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
8,065,884 |
1.6% |
7,940,452 |
285.1% |
2,062,000 |
|
|
|||||
|
Working Capital |
13,417,287 |
-3.7% |
13,932,818 |
112.0% |
6,573,000 |
|
Net Worth |
8,065,884 |
1.6% |
7,940,452 |
285.1% |
2,062,000 |
|
RATIO ANALYSIS |
|||||
|
Trading Performance |
|||||
|
Pre-tax Profit Margin |
0.22 |
37.5% |
0.16 |
0.0% |
0.16 |
|
Return On Capital Employed |
1.02 |
12.1% |
0.91 |
-49.7% |
1.81 |
|
Return On Total Assets Employed |
0.53 |
39.5% |
0.38 |
8.6% |
0.35 |
|
Return On Net Assets Employed |
1.06 |
11.6% |
0.95 |
-52.3% |
1.99 |
|
Sales / Net Working Capital |
4.74 |
-19.4% |
5.88 |
-52.5% |
12.39 |
|
Operating Efficiency |
|||||
|
Stock Turnover Ratio |
7.07 |
-21.6% |
9.02 |
69.5% |
5.32 |
|
Debtor Days |
121.95 |
2.2% |
119.31 |
-16.6% |
143.03 |
|
Creditor Days |
32.43 |
-43.9% |
57.79 |
-36.7% |
91.23 |
|
Short Term Stability |
|||||
|
Current Ratio |
2.04 |
21.4% |
1.68 |
37.7% |
1.22 |
|
Liquidity Ratio / Acid Ratio |
1.69 |
28.0% |
1.32 |
23.4% |
1.07 |
|
Current Debt Ratio |
1.60 |
-38.0% |
2.58 |
-82.2% |
14.53 |
|
Long Term Stability |
|||||
|
Gearing |
90.88 |
-49.1% |
178.47 |
-73.1% |
663.63 |
|
Equity In Percentage |
0.30 |
30.4% |
0.23 |
283.3% |
0.06 |
|
Total Debt Ratio |
0.91 |
-48.9% |
1.78 |
-73.2% |
6.64 |
Payment
Expectations
|
PAYMENT
EXPECTATIONS |
|
|
Payment Expectation Days |
32.43 |
|
Day Sales Outstanding |
121.95 |
|
|
|
|
INDUSTRY
COMPARISON |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
|
Industry Average Day Sales Outstanding |
112.44 |
|
Industry Average Payment Expectation Days |
128.46 |
|
INDUSTRY QUARTILE ANALYSIS |
|
|
Payment Expectation Days |
|
|
Payment Expectations - Lower |
43.35 |
|
Payment Expectations - Median |
83.34 |
|
Payment Expectations - Upper |
143.01 |
|
Day Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
31.05 |
|
Day Sales Outstanding - Median |
69.93 |
|
Day Sales Outstanding - Upper |
144.39 |
Shareholders
|
No holding companies for this company. |
|
No subsidaries for this company. |
Court
Data
|
PROTESTED BILLS |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
|
City of Drawer |
-- |
|
NSSO DETAILS |
|
|
Business Number |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
Labour Court |
-- |
|
Bankruptcy Data |
|
There is no bankruptcy data against this company. |
Directors
|
Company Director |
|
|
FullName |
MAYURKUMAR MANUBHAI MANGUKIYA |
|
Position |
Manager |
|
Address |
81 VARACHNA ROAD,SADHANA SOC SURET 395006 |
|
Postal Code |
0 |
|
Country |
India |
|
Company Director |
|
|
FullName |
KISHOR KANJIBHAL KAKADIA |
|
Position |
Manager |
|
Address |
27 VARACHHA ROAD HANS SOCIET SURAT |
|
Postal Code |
0 |
|
Country |
India |
|
Company Director |
|
|
FullName |
MAYUR MANGUKIYA |
|
Position |
Manager |
|
Address |
49 QUINTEN MATSIJSLEI ANTWERPEN |
|
Postal Code |
2018 |
|
Country |
-- |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.84 |
|
UK Pound |
1 |
Rs.76.81 |
|
Euro |
1 |
Rs.64.38 |
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%)