MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
JEWELS ERA BVBA |
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Registered Office : |
Hoveniersstraat 30 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 : |
18.12.2003 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processing
of and having proccessed of as well as the trade in polished and unpolished
diamonds, precious stones and jewelry |
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 : |
No Complaints |
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Litigation : |
Clear |
name & address
Jewels Era Bvba
Hoveniersstraat 30
2018 ANTWERPEN
Tel.:+32
(0)3-2275602
Fax.:+32
(0)3-2275603
Legal
status
Private limited company
Founded
18/12/2003 as BVBA
Trade
register
99455308
Capital
Nominal EUR 1.018.600,--
Issued and paid up EUR 1.018.600,--
Management
-Haresh Babubhai
Mangukiya, Van Eyklei 13, 2018 Antwerpen.
Activity
Processing of
and having proccessed of as well as the trade in polished and unpolished
diamonds, precious stones and jewelry.
Staff
5 employees
Turnover
Net turnover:
2006 Euro 19.808.000
2005 Euro 15.704.000
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 (7.000)
2005 Euro 31.000
The
shareholders equity was as of:
31/12/2006 Euro 889.000
31/12/2005 Euro 73.000
The working
capital was as of:
31/12/2006 Euro 829.000
31/12/2005 Euro (6.000)
Issued/paid
up capital was raised during March 2007 from
EUR
18.600,- to EUR 1.018.000,-
Full
address:
Volledig adres: Hoveniersstraat 30, bus 225,
2018 Antwerpen.
Bankers:
Antwerpse
Diamantbank
E-mail :
jewels.era@telenet.be
Cell phone
no. : +32-(0)477-8888880
Banks
Under remarks
VAT-nr.
BE862455308
Mode
of payment
No complaints have been
registered
Credit
demand
No objections against entering
into a business relationship.
The following financial data is retrieved from
the corporate balance sheet of :
Jewels Era Bvba
BALANCE SHEET
Corporate in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 201 192
Financial assets 1 1
Miscellaneous fixed assets 0 0
Total fixed assets 202 193
Stock 3.027 4.133
Receivables 4.731 4.828
Shares 0 0
Liquid assets 74 272
Miscellaneous current assets 0 0
Total current assets 7.832 9.233
Shareholders
equity 73 889
Provisions 0 0
Long-term liabilities 123 115
Current liabilities 7.838 8.404
Minority interests 0 0
Miscellaneous
liabilities 0 18
Total liabilities 8.034 9.426
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Turnover 15.704 19.808
Other income 0 0
Total expenses 15.378 19.717
Operating profit 326 91
Balance financial P/L -277 -42
Net profit/loss 1] 49 49
Taxation 18 56
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 31 -7
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 31 -7
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
-----2005----- -----2006-----
EQUITY
%
Equity gearing 0,9 9,4
Equity/outside capital 0,9 10,4
LIQUIDITY
Current ratio 1 1,1
Acid test 0,6 0,6
RATES OF RETURN %
Total assets 0,6 0,5
Shareholders
equity 67,1 5,5
Pre tax margin
% 0,3 0,2
Turnover rate 195,5 210,1
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital -6 829
Shareholders
equity + Equalization acc. 73 889
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.79 |
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UK Pound |
1 |
Rs.85.04 |
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Euro |
1 |
Rs.67.39 |
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%)