MIRA
INFORM REPORT
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Report Date : |
20.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADIAM NV |
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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 : |
24.3.2005 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
Trade in Diamonds. |
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 : |
Slow by 5 days |
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Litigation : |
Clear |
name & address
Adiam NV
Hoveniersstraat 30
2018 ANTWERPEN
Tel.:+32
(0)3-2260389
Fax.:+32
(0)3-2261092
Legal
status
NV Public limited company
[nat. law]
Founded
24/03/2005 as P.l.c.
Trade register 52251927
Capital
Nominal EUR 945.000,--
Issued and paid up EUR 945.000,--
Management
-Amit Mehta, Albrecht
Rodenbachstraat 24, 2540 Hove.
-Sanjiv Mehta,
Ferdinand Verbistlaan 24, 2650 Erdegem
-Ritesh Dinesh Mehta,
Mumbai (India).
Activity
Trade in diamonds.
Staff
1 employee.
Turnover
Net turnover:
2006 Euro 67.270.200
2005 Euro 188.511.044
2004 Euro 86.642.010
Real estate The business premises
at the mentioned address is owned by the company, as far as we know.
Finances
See balance sheet
Remarks
Net result:
2006 Euro 101.188
2005 Euro 240.183
2004 Euro 170.997
The
shareholders equity was as of:
31/12/2006 Euro 10.527.022
31/12/2005 Euro 1.088.917
31/12/2004 Euro 403.001
The working
capital was as of:
31/12/2006 Euro 10.757.182
31/12/2005 Euro 1.554.804
31/12/2004 Euro 184.011
Import : India,
Israel and the USA
Export :
India, Israel and the USA
Import
share : 40 %
Exprot
share : 80 %
Banks
ABN-AMRO NV, 674-5253606-94
VAT-nr.
BE429050202
Mode
of payment
On average 5 days beyond
terms.
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from
the orporate balance sheet of :
Adiam NV
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 1.355 0
Tangible assets 278.637 243.986
Financial assets 314 315
Miscellaneous fixed assets 0 0
Total fixed assets 280.306 244.301
Stock 28.469.080 20.476.417
Receivables 25.997.329 23.671.048
Shares 0 0
Liquid assets 38.136 23.898
Miscellaneous
current assets 7.671 10.118
Total current assets 54.512.216 44.181.481
Shareholders equity 1.088.917 10.527.022
Provisions 0 0
Long-term
liabilities 546.821 412.134
Current
liabilities 52.957.412 33.424.299
Minority interests 0 0
Miscellaneous
liabilities 199.372 62.327
Total liabilities 54.792.522 44.425.782
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 188.511.044 67.270.200
Other income 252.597 119.930
Total expenses 184.120.313 67.636.839
Operating profit 4.643.328 -246.709
Balance financial
P/L -4.335.815 775.373
Net profit/loss 1] 307.513 528.664
Taxation 66.705 427.301
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] 240.808 101.363
Balance
extraordinary P/L -625 -175
Taxation 0 0
Extraordinary P/L
2] -625 -175
Res. sub.
companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 240.183 101.188
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 2 23,7
Equity/outside
capital 2 31,1
LIQUIDITY
Current ratio 1 1,3
Acid test 0,5 0,7
RATES OF RETURN %
Total assets 0,6 1,2
Shareholders equity 28,2 5
Pre tax
margin % 0,2 0,8
Turnover rate 344 151,4
(x
1) (x 1)
-------------------- --------------------
Working capital 1.554.804 10.757.182
Shareholders equity + Equalization acc. 1.088.917 10.527.022
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%)