MIRA
INFORM REPORT
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Report Date : |
26.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROSY BLUE NV |
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Registered Office : |
Hoveniersstraat 53B 127 2018
Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.11.1973 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
Investment Business;
Trade in Jewellery and Diamonds. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Average 5 days beyond terms |
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Litigation : |
Clear |
name & address
Rosy Blue NV
Hoveniersstraat
53B 127
2018 ANTWERPEN
Tel.:+32
(0)3-2061600
Fax.:+32
(0)3-2061601
Legal
status
NV Public limited company
[nat. law]
Founded
01/11/1973 as P.l.c.
Trade
register
52195638
Capital
Nominal EUR 21.995.000,--
Issued and paid up EUR 21.995.000,--
Management
Rajkumar Mehta,
Ahomenlaan 15, 2610 Wilrijk
Rajesh Mehta, Jozef
Jespersstraat 2, 2650 Edegem
Dilip Mehta,
Kasteellei 50, 2930 Brasschaat
Amit Bhansali,
Berkenlaan 11, 2610 Wilrijk
Activity
Investment business;
trade in jewellery & diamonds.
Staff
8 employees
Turnover
Net turnover:
2006 Euro 1.246.507.007
2005 Euro 1.435.830.009
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:
2007 US
Dollar (23.653.530)
2006 Euro 920.999
2005 Euro 1.403.995
The
shareholders equity was as of:
31/12/2007 US Dollar 6.680.443
31/12/2006 Euro 22.986.001
31/12/2005 Euro 22.965.005
The working
capital was as of:
31/12/2007 US Dollar 193.675.776
31/12/2006 Euro 188.861.003
31/12/2005 Euro 192.119.985
Bankers:
Antwerpse Diamantbank
Website : http:/www.rosyblue.com/
Previous address:
Hoveniersstraat 9 2018 ANTWERPEN
Import :
India
Export :
Hong Kong, India, Japan, the UK and the USA
Participations,
according to the 2007 accounts:
Intergold Europe NV, Antwerpen : 50 %
U2 Diamonds Ltd. BO, Church Street 3-A, Baldock-Herts, the UK : 33 %
Sportsclub of India NV, Hoveniersstraat 53, bus 132, Antwerpen : 17 %
As per
01.01.2007 is all the bookkeeping done in USD;
the
accounts over 2007 are also in USD.
Banks
Not known
VAT-nr.
BE413178230
Mode
of payment
On average 5 days beyond
terms.
Credit
demand
No objections against
entering into a business relationship.
In view of the financial situation,
we recommend you to follow the company s future developments.
The following financial data is retrieved from
the corporate balance sheet of :
Rosy Blue NV
BALANCE
SHEET
Corporate in Euro(x
1) US Dollar(x 1)
---31-12-2006--- ------31-12-2007---
Intangible assets 2.223.010 2.043.125
Tangible assets 8.344.988 10.646.127
Financial assets 1.629.008 1.350.929
Miscellaneous fixed assets 0 0
Total fixed assets 12.197.006 14.040.181
Stock 0 0
Receivables 346.993.993 359.385.948
Shares 0 0
Liquid assets 22.162.995 125.028.150
Miscellaneous current assets 0 10.570.430
Total current assets 369.156.988 494.984.528
Shareholders
equity 22.986.001 6.680.443
Provisions 4.424.007 5.838.545
Long-term liabilities 173.648.001 189.252.434
Current liabilities 180.295.985 301.308.752
Minority interests 0 0
Miscellaneous
liabilities 0 5.944.535
Total liabilities 376.930.012 509.024.709
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) US Dollar(x 1)
---31-12-2006--- ------31-12-2007---
Turnover 1.246.507.007 0
Other income 38.619.010 0
Total expenses 1.266.061.988 1.826.514.373
Operating profit 19.064.004 29.112.007
Balance financial P/L -18.562.986 -30.204.549
Net profit/loss 1] 500.993 -1.092.542
Taxation 174.988 2.481.169
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 326.005 -3.573.711
Balance extraordinary P/L 595.019 -20.079.819
Taxation 0 0
Extraordinary P/L 2] 595.019 -20.079.819
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 920.999 -23.653.530
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 6 1,3
Equity/outside
capital 6,4 1,3
LIQUIDITY
Current ratio 2 1,6
Acid test 2 1,6
RATES OF RETURN %
Total assets 0,1 -0,2
Shareholders equity 2,2 -16,4
Pre tax
margin % 0 0
Turnover rate 326,9 0
(x
1) (x 1)
-------------------- --------------------
Working capital 188.861.003 193.675.776
Shareholders equity + Equalization acc. 22.986.001 6.680.443
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.23 |
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UK Pound |
1 |
Rs.83.88 |
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Euro |
1 |
Rs.66.41 |
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%)