MIRA
INFORM REPORT
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Report Date : |
21.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
JAYAM NV |
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Registered Office : |
Hoveniersstraat 50-52 2018
Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.11.1960 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
Import and Export of and
Trade in Polished and Unpolished Diamonds |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Average 25 days beyond terms |
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Litigation : |
Clear |
name & address
Jayam NV
Hoveniersstraat
50-52
2018 ANTWERPEN
Tel.:+32
(0)3-2310935
Fax.:+32
(0)3-2329220
Legal
status
NV Public limited company
[nat. law]
Founded
01/11/1960 as P.l.c.
Trade
register
52151562
Capital
Nominal EUR 2.710.000,--
Issued and paid up EUR 2.710.000,--
Management
Mahendra Mehta,
Acacialaan 2, 2020 Antwerpen
Mihir Mehta, Della Faillelaan 55, 2020
Antwerpen
Sachin Jitendra Mehta, Sikhumvit Road 40,
10110 Bangkok - Thailand
Activity
Import and export of
and trade in polished and unpolished diamonds.
Staff
16 employees
Turnover
Net turnover:
2007 Euro 114.674.999
2006 Euro 133.598.993
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 Euro 182.003
2006 Euro 461.999
The
shareholders equity was as of:
31/03/2007 Euro 5.518.011
31/03/2006 Euro 5.334.991
The working
capital was as of:
31/03/2007 Euro 43.733.995
31/03/2006 Euro 4.685.014
Other
bankers:
Antwerpse
Diamantbank, acc. nr. 640-0569000-41
State Bank
of India, acc. nr. 668-5203033-87
Import :
the UK
Export :
Japan, Thailand and the USA
Subsidairies/participations:
Sport Club
of India, Hoveniersstraat 53, Antwerpen : 16,65 %
JAYAM CHINA
LTD, PR China (100%)
Diamond
Vallee Bo, Paris - France : 75 %
Accountants
:
TCLM -
Toelen, Cats Morlie & Co, Antwerpen
Banks
ABN-AMRO NV, 674-52019
VAT-nr.
BE404965892
Mode
of payment
On average 25 days beyond
terms.
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from
the corporate balance sheet:
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-03-2006--- ------31-03-2007---
Intangible assets 0 0
Tangible assets 424.989 402.009
Financial assets 224.988 347.993
Miscellaneous fixed assets 0 0
Total fixed assets 650.002 750.002
Stock 55.046.988 45.284.991
Receivables 20.335.004 35.210.994
Shares 0 0
Liquid assets 973.998 320.006
Miscellaneous current assets 0 0
Total current assets 76.355.990 80.815.991
Shareholders
equity 5.334.991 5.518.011
Provisions 0 0
Long-term liabilities 0 38.966.011
Current liabilities 71.670.976 37.081.996
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 77.005.992 81.567.010
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-03-2006--- ------31-03-2007---
Turnover 133.598.993 114.674.999
Other income 381.012 297.001
Total expenses 133.980.005 115.965.979
Operating profit 0 -993.979
Balance financial P/L -3.204.990 1.191.996
Net profit/loss 1] 0 197.993
Taxation 0 9.990
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 0 188.003
Balance extraordinary P/L 304.983 -5.999
Taxation 0 0
Extraordinary P/L 2] 304.983 -5.999
Res. sub. companies 2] 0 0
Minority interests 0 5.007
Miscellaneous P/L 0 0
Net result 461.999 182.003
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 6,9 6,8
Equity/outside capital 7,4 7,3
LIQUIDITY
Current ratio 1,1 2,2
Acid test 0,3 1
RATES OF RETURN %
Total assets 0 0,2
Shareholders
equity 0 3,6
Pre tax margin
% 0 0,2
Turnover rate 173,5 140,6
(x
1) (x 1)
-------------------- --------------------
Working capital 4.685.014 43.733.995
Shareholders
equity + Equalization acc. 5.334.991 5.518.011
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%)