MIRA INFORM REPORT

 

 

Report Date :

12.02.2008

 

IDENTIFICATION DETAILS

 

Name :

EUROSTAR DIAMOND TRADERS

 

 

Registered Office :

Hoveniersstraat 53 B.79 2018 Antwerpen 

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

22.02.1991

 

 

Com. Reg. No.:

282125, ANTWERPEN

 

 

Legal Form :

Public Limited Company

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

name & address

 

EUROSTAR DIAMOND TRADERS

HOVENIERSSTRAAT 53 B.79

2018 ANTWERPEN BE

Tel. Number +32-3-2137777

Fax number +32-3-2137799

 

 

 

 

Business founded

22 February 1991

Business registered

21 March 1991 - Public limited company (no information regarding quotation)

Registration number,

282125, ANTWERPEN,

VAT number,

BE443117279,

Legal form

Public limited company (no information regarding quotation)

Activities

Wholesale of miscellaneous intermediate products

Payment experience

Payment regular

Credit opinion

Normal creditworthiness

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Nil 

 

Commitments (regarding contractual obligations) : Fulfilled („respectés“) 

 

Payment defaults : None 

Employees (Business)

 41

Total share capital31 December 2006

EUR 148361905,00

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Board members

MEHTA SACHIN DINUKUMAR    Chairman and managing director

 

DELVEAUX CYRILLE RAOUL    Secretary general

 

MEHTA PANKAJ KIRTILAL    Deputy board member

 

MEHTA KAUSHIK KIRTILAL    Deputy board member

 

KOTHARI ASHISH PRAVIN    Deputy board member

 

MEHTA KUNAL    Board member

 

MEHTA RAJIV PANKAJ    Board member

Management

MARCOVICI SANDRINA    Partner

Auditor

WALKIERS EMILE RENE AUGUSTINA LOUISA    Auditors´ president

 

MARISSEN MARC    Auditors´ president

Associate company.

EUROSTAR FRANCE   25,00 %   

 

 

 

 

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 895.775.962,00

 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

602.906.504,-

Total fixed assets

50.772.425,-

Total intangible fixed assets

83.006,-

Total tangible fixed assets

6.207.928,-

Land and buildings

5.804.936,-

Plant, machinery and equipment

152.646,-

Total financial fixed assets

44.481.491,-

Loans, shares and participations

85.739.071,-

Investments (long-term)

1.607.628,-

Total Current assets

552.134.079,-

Inventories and work in progress (incl. prepayments)

222.137.150,-

Accounts receivable (trade)

327.007.961,-

Receivables from affiliates and companies in which participations are held

42.865.208,-

Investments (short-term)

74.521,-

Cash in hand and at bank

1.878.703,-

Total accrued income and prepaid expenses

1.035.744,-

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

602.906.504,-

Total equity (Shareholders' funds)

233.687.297,-

Issued (subscribed) capital

148.361.905,-

Profit reserves

3.443.507,-

Statutory reserves

76.343.746,-

Legal reserves

769.885,-

Revaluation reserves

297.995,-

Profit or loss carried forward

4.470.259,-

Total provisions

896.937,-

Total liabilities

368.322.271,-

Total long-term liabilities

11.113.335,-

Long-term Loans, Mortgage debts

9.465.031,-

Long-term liabilities to credit institutions

1.648.304,-

Total current liabilities

354.916.859,-

Current accounts payable (trade)

206.826.908,-

Current liabilities to credit institutions

144.977.290,-

Income and social tax liabilities

2.268.931,-

Total accrued expenses and deferred income

2.292.076,-

 

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

Total operating income/revenue

897.294.903,-

Main revenue (sales/turnover)

895.775.962,-

Total operating expenses

881.243.475,-

Cost of materials (type of expenditure format)

856.748.221,-

Cost of goods sold (operational format)

881.243.475,-

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

16.051.428,-

Personnel costs

2.114.259,-

Depreciation

476.080,-

Operating profit or loss

16.051.428,-

Financial income

10.275.624,-

Financial expenses

17.295.422,-

Result of ordinary operations

9.031.631,-

Extraordinary income

144.809,-

Extraordinary expenses

337.955,-

Extraordinary result

8.838.485,-

Taxes

5.773.249,-

Net profit or loss

3.065.236,-

Borrowing ratio

157,67 %

Current ratio

150,93 %

Debt gearing

4,76 %

Profit margin.

2,33 %

Quick ratio

89,02 %

Return on assets

3,83 %

Return on equity.

1,31 %

Solidity or equity ratio

38,76 %

 

Turnover for the period: 00 0000 - 31 December 2005  in  EUR 901.038.000,00

 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

477.899.000,-

Total fixed assets

46.830.000,-

Total intangible fixed assets

228.000,-

Total tangible fixed assets

6.438.000,-

Land and buildings

5.865.000,-

Plant, machinery and equipment

131.000,-

Total financial fixed assets

40.164.000,-

Loans, shares and participations

76.062.000,-

Investments (long-term)

2.043.000,-

Total Current assets

431.069.000,-

Inventories and work in progress (incl. prepayments)

99.318.000,-

Accounts receivable (trade)

329.211.000,-

Receivables from affiliates and companies in which participations are held

37.941.000,-

Investments (short-term)

75.000,-

Cash in hand and at bank

163.000,-

Total accrued income and prepaid expenses

2.302.000,-

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

477.899.000,-

Total equity (Shareholders' funds)

171.248.000,-

Issued (subscribed) capital

165.000.000,-

Profit reserves

3.829.000,-

Legal reserves

686.000,-

Profit or loss carried forward

1.733.000,-

Total provisions

902.000,-

Total liabilities

305.749.000,-

Total long-term liabilities

11.481.000,-

Long-term Loans, Mortgage debts

9.605.000,-

Long-term liabilities to credit institutions

1.876.000,-

Total current liabilities

291.292.000,-

Current accounts payable (trade)

135.394.000,-

Current liabilities to credit institutions

152.724.000,-

Income and social tax liabilities

1.662.000,-

Total accrued expenses and deferred income

2.976.000,-

 

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

Total operating income/revenue

902.704.000,-

Main revenue (sales/turnover)

901.038.000,-

Total operating expenses

-885.679.000,-

Cost of materials (type of expenditure format)

869.172.000,-

Cost of goods sold (operational format)

885.679.000,-

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

17.025.000,-

Personnel costs

1.809.000,-

Depreciation

569.000,-

Operating profit or loss

17.025.000,-

Financial income

4.726.000,-

Financial expenses

-18.548.000,-

Result of ordinary operations

3.203.000,-

Extraordinary result

3.203.000,-

Taxes

-1.345.000,-

Net profit or loss

1.858.000,-

Borrowing ratio

178,78 %

Current ratio

142,74 %

Debt gearing

6,71 %

Profit margin.

2,03 %

Quick ratio

109,32 %

Return on assets

3,88 %

Return on equity.

1,08 %

Solidity or equity ratio

35,83 %

 

Turnover for the period: 00 0000 - 31 December 2004  in  EUR 822.682.000,00

 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

358.295.000,-

Total fixed assets

9.358.000,-

Total intangible fixed assets

368.000,-

Total tangible fixed assets

6.768.000,-

Land and buildings

5.926.000,-

Plant, machinery and equipment

211.000,-

Total financial fixed assets

2.222.000,-

Loans, shares and participations

180.000,-

Investments (long-term)

2.042.000,-

Total Current assets

348.937.000,-

Inventories and work in progress (incl. prepayments)

72.413.000,-

Accounts receivable (trade)

274.805.000,-

Investments (short-term)

74.000,-

Cash in hand and at bank

1.072.000,-

Total accrued income and prepaid expenses

573.000,-

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

358.295.000,-

Total equity (Shareholders' funds)

9.561.000,-

Issued (subscribed) capital

5.000.000,-

Profit reserves

4.000.000,-

Legal reserves

500.000,-

Profit or loss carried forward

61.000,-

Total provisions

823.000,-

Total liabilities

347.911.000,-

Total long-term liabilities

121.220.000,-

Long-term Loans, Mortgage debts

19.015.000,-

Long-term liabilities to credit institutions

2.205.000,-

Total current liabilities

218.466.000,-

Current accounts payable (trade)

85.086.000,-

Current liabilities to credit institutions

131.704.000,-

Income and social tax liabilities

177.000,-

Total accrued expenses and deferred income

8.225.000,-

 

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

Total operating income/revenue

824.933.000,-

Main revenue (sales/turnover)

822.682.000,-

Total operating expenses

-803.275.000,-

Cost of materials (type of expenditure format)

786.209.000,-

Cost of goods sold (operational format)

803.275.000,-

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

21.658.000,-

Personnel costs

1.476.000,-

Depreciation

516.000,-

Operating profit or loss

21.658.000,-

Financial income

342.000,-

Financial expenses

-19.606.000,-

Result of ordinary operations

2.394.000,-

Extraordinary income

413.000,-

Extraordinary expenses

-5.000,-

Extraordinary result

2.802.000,-

Taxes

-950.000,-

Net profit or loss

1.852.000,-

Borrowing ratio

3784,52 %

Current ratio

153,92 %

Debt gearing

1318,61 %

Profit margin.

2,70 %

Quick ratio

126,31 %

Return on assets

4,69 %

Return on equity.

19,37 %

Solidity or equity ratio

2,66 %

 

 

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