MIRA INFORM REPORT

 

 

Report Date :

14.02.2008

 

IDENTIFICATION DETAILS

 

Name :

PRIYANKA GEMS BVBA

 

 

Registered Office :

Pelikaanstraat 62, 2018 Antwerpen 

 

 

Country :

Belgium

 

 

Financials (as on) :

30.06.2007

 

 

Date of Incorporation :

28.04.1997

 

 

Com. Reg. No.:

323023, ANTWERPEN,

 

 

Legal Form :

Private company with limited lability

 

 

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

 

COMPANY NAME & ADDRESS

 

PRIYANKA GEMS

PELIKAANSTRAAT 62

2018 ANTWERPEN BE

Tel. Number +32-3-2133804

Fax number +32-3-2133804

 

Business founded

28 April 1997

Business registered

22 May 1997 - Private company with limited lability

Registration number,

323023, ANTWERPEN,

VAT number,

BE460581041,

Legal form

Private company with limited lability

Activities

Wholesale of miscellaneous intermediate products

Payment experience

Nothing to report

Credit opinion

Credit opinion

 

Cash situation (balance sheet analysis) : Normal 

 

Profitability (balance sheet analysis) : Very good 

 

Commitments (regarding contractual obligations) : Completely fulfilled 

 

Payment defaults : None 

Employees (Business)

 0

Total share capital30 June 2007

EUR 18592,00

Branch office(s)

PELIKAANSTRAAT 62 B.19,2018 ANTWERPEN   

Bank

BANQUE DIAMANTAIRE ANVERSOISE   

Boardmembers

DIPAK JIVANI    Manager

 

JIVANI ROHITKUMAR VALLABHBHAI    Manager

Management

MEYNENDONCKX BART FILIP GERARD    Representative and auditor

Auditor

LUYTEN-MEYNENDONCKX & PARTNERS BEDRIJFREVISOREN/REVISEURS D'ENTREPRISE   Auditors´ president

 

 

 

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

 

Turnover for the period: 00 0000 - 30 June 2007  in  EUR 8.814.967,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2007  in  EUR 

Total assets incl. prepaid expenses and accrued income

7.091.155,-

Total fixed assets

7.717,-

Total tangible fixed assets

5.063,-

Total financial fixed assets

2.654,-

Investments (long-term)

2.654,-

Total Current assets

7.083.438,-

Inventories and work in progress (incl. prepayments)

2.787.995,-

Accounts receivable (trade)

4.266.563,-

Cash in hand and at bank

28.880,-

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

7.091.155,-

Total equity (Shareholders' funds)

886.505,-

Issued (subscribed) capital

18.592,-

Statutory reserves

763.009,-

Legal reserves

1.859,-

Profit or loss carried forward

103.045,-

Total liabilities

6.204.650,-

Total current liabilities

6.193.697,-

Current accounts payable (trade)

3.192.390,-

Current liabilities to credit institutions

2.121.095,-

Income and social tax liabilities

5.154,-

Total accrued expenses and deferred income

10.953,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2007  in  EUR 

Total operating income/revenue

8.814.967,-

Main revenue (sales/turnover)

8.814.967,-

Total operating expenses

8.619.660,-

Cost of materials (type of expenditure format)

8.517.190,-

Cost of goods sold (operational format)

8.619.660,-

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

195.307,-

Personnel costs

11.041,-

Depreciation

5.493,-

Operating profit or loss

195.307,-

Financial expenses

177.442,-

Result of ordinary operations

17.865,-

Extraordinary income

763.009,-

Extraordinary result

780.874,-

Taxes

38.129,-

Net profit or loss

742.745,-

Borrowing ratio

699,90 %

Current ratio

114,16 %

Profit margin.

2,27 %

Quick ratio

69,35 %

Return on assets

13,59 %

Return on equity.

83,78 %

Solidity or equity ratio

12,50 %

 

Turnover for the period: 00 0000 - 30 June 2006  in  EUR 7.541.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2006  in  EUR 

Total assets incl. prepaid expenses and accrued income

5.425.000,-

Total fixed assets

13.000,-

Total tangible fixed assets

10.000,-

Total financial fixed assets

3.000,-

Investments (long-term)

3.000,-

Total Current assets

5.412.000,-

Inventories and work in progress (incl. prepayments)

2.140.000,-

Accounts receivable (trade)

3.245.000,-

Cash in hand and at bank

27.000,-

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

5.425.000,-

Total equity (Shareholders' funds)

144.000,-

Issued (subscribed) capital

19.000,-

Legal reserves

2.000,-

Profit or loss carried forward

123.000,-

Total liabilities

5.281.000,-

Total long-term liabilities

1.000,-

Long-term liabilities to credit institutions

1.000,-

Total current liabilities

5.278.000,-

Current accounts payable (trade)

2.653.000,-

Current liabilities to credit institutions

1.753.000,-

Income and social tax liabilities

1.000,-

Total accrued expenses and deferred income

2.000,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2006  in  EUR 

Total operating income/revenue

7.541.000,-

Main revenue (sales/turnover)

7.541.000,-

Total operating expenses

-7.366.000,-

Cost of materials (type of expenditure format)

7.266.000,-

Cost of goods sold (operational format)

7.366.000,-

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

175.000,-

Personnel costs

7.000,-

Depreciation

6.000,-

Operating profit or loss

175.000,-

Financial expenses

-159.000,-

Result of ordinary operations

16.000,-

Extraordinary result

16.000,-

Taxes

-4.000,-

Net profit or loss

12.000,-

Borrowing ratio

3667,36 %

Current ratio

102,50 %

Debt gearing

0,69 %

Profit margin.

2,40 %

Quick ratio

61,99 %

Return on assets

3,33 %

Return on equity.

8,33 %

Solidity or equity ratio

2,65 %

 

Turnover for the period: 00 0000 - 30 June 2005  in  EUR 7.623.000,00

 Not consolidated profit and loss turnover of the business: 

 

Corporate balance sheet for the year: 00 0000 - 30 June 2005  in  EUR 

Total assets incl. prepaid expenses and accrued income

4.919.000,-

Total fixed assets

16.000,-

Total tangible fixed assets

13.000,-

Total financial fixed assets

3.000,-

Investments (long-term)

3.000,-

Total Current assets

4.903.000,-

Inventories and work in progress (incl. prepayments)

1.799.000,-

Accounts receivable (trade)

3.094.000,-

Cash in hand and at bank

9.000,-

Total accrued income and prepaid expenses

1.000,-

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

4.919.000,-

Total equity (Shareholders' funds)

132.000,-

Issued (subscribed) capital

19.000,-

Legal reserves

2.000,-

Profit or loss carried forward

111.000,-

Total liabilities

4.787.000,-

Total long-term liabilities

5.000,-

Long-term liabilities to credit institutions

5.000,-

Total current liabilities

4.782.000,-

Current accounts payable (trade)

1.831.000,-

Current liabilities to credit institutions

2.055.000,-

Income and social tax liabilities

5.000,-

 

Corporate profit and loss account for the year: 00 0000 - 30 June 2005  in  EUR 

Total operating income/revenue

7.624.000,-

Main revenue (sales/turnover)

7.623.000,-

Total operating expenses

-7.503.000,-

Cost of materials (type of expenditure format)

7.406.000,-

Cost of goods sold (operational format)

7.503.000,-

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

121.000,-

Personnel costs

1.000,-

Depreciation

6.000,-

Operating profit or loss

121.000,-

Financial expenses

-105.000,-

Result of ordinary operations

16.000,-

Extraordinary result

16.000,-

Taxes

-4.000,-

Net profit or loss

12.000,-

Borrowing ratio

3626,52 %

Current ratio

102,53 %

Debt gearing

3,79 %

Profit margin.

1,66 %

Quick ratio

64,88 %

Return on assets

2,60 %

Return on equity.

9,09 %

Solidity or equity ratio

2,68 %

 

 

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