MIRA
INFORM REPORT
|
Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
INDIGEMS NV |
|
|
|
|
Registered Office : |
30 Hoveniersstraat Antwerpen 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
03.07.1975 |
|
|
|
|
Com. Reg. No.: |
414936997 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of Diamonds and Other Precious Stones |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Very Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
Company
Summary
|
COMPANY SUMMARY |
|
|
Business Name |
INDIGEMS NV |
|
Business Number |
414936997 |
|
Address |
30 HOVENIERSSTRAAT ANTWERPEN |
|
Post Code |
2018 |
|
Telephone |
032343930 |
|
Fax Number |
032338506 |
|
Date of Establisment |
03-07-1975 |
|
Number of Employees |
11 |
|
CREDIT
INFORMATION SUMMARY |
|
|
Date of Deposit at Registry |
30-07-2008 |
|
Date of Last Accounts |
31-12-2007 |
|
Turnover |
33,103,705 |
|
Results of Ordinary Operations Before Tax |
363,270 |
|
Networth |
9,540,486 |
|
PAST PAYMENTS |
|
|
Payment Expectation Days |
48.09 |
|
Days Sales Outstanding |
72.75 |
|
Industry Average Payment Expectation Days |
128.57 |
|
Industry Average Day Sales Outstanding |
112.51 |
|
COURT DATA
SUMMARY |
|
|
bankruptcy
details |
|
|
Court Action Type |
None |
|
Protested
Bills |
|
|
Bill Amount |
|
|
NSSO
Details |
|
|
Date of Summons |
-- |
Company
Information
|
COMPANY DETAILS |
|
|
Business Number |
414936997 |
|
Name |
INDIGEMS NV |
|
Fax Number |
032338506 |
|
Establishment Date |
03-07-1975 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
LATEST BRANCH
DETAILS |
|
|
Street |
-- |
|
House Number |
|
|
City |
-- |
|
Postal Code |
|
|
Trade Registered Number |
|
|
Trade Registered Entry Date |
-- |
|
CONTRACTOR
DETAILS |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
LATEST EVENT |
|
|
Serial Number |
162653 |
|
Event Description |
Extension of goal |
Accounts
& Ratio
|
PERIOD |
|||||
|
Accounts End Date |
31-12-2007 |
% |
31-12-2006 |
% |
31-12-2005 |
|
Weeks |
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
PROFIT &
LOSS |
|||||
|
Turnover |
33,103,705 |
-13.7% |
38,357,594 |
-8.6% |
41,961,000 |
|
Total Operating Expenses |
31,907,324 |
-13.7% |
36,986,744 |
-9.6% |
40,897,000 |
|
Operating Result |
1,196,381 |
-12.7% |
1,370,850 |
28.8% |
1,064,000 |
|
Total Financial Income |
1,495 |
-41.6% |
2,559 |
-99.9% |
3,198,000 |
|
Total Financial Expenses |
834,606 |
-22.1% |
1,071,438 |
-75.0% |
4,281,000 |
|
Results on Ordinary Operations Before Tax |
363,270 |
20.3% |
301,971 |
1,689.3% |
-19,000 |
|
Taxation |
11,569 |
64.4% |
7,035 |
178.2% |
-9,000 |
|
Results on Ordinary Operations After Tax |
351,701 |
19.2% |
294,936 |
3,049.4% |
-10,000 |
|
Extraordinary Items |
0 |
100.0% |
-6,412 |
-126.7% |
24,000 |
|
Net Result |
351,701 |
21.9% |
288,524 |
1,960.9% |
14,000 |
|
Other Information |
|||||
|
Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
- |
- |
|
Employee Costs |
467,507 |
12.4% |
416,079 |
-28.6% |
583,000 |
|
- Wages & Salaries |
368,846 |
-10.2% |
410,854 |
7.6% |
382,000 |
|
- Social Security Contributions |
84,233 |
-10.6% |
94,185 |
8.3% |
87,000 |
|
- Other Employee Costs |
14,428 |
116.2% |
-88,960 |
-178.0% |
114,000 |
|
Amortization & Depreciation |
73,667 |
-14.8% |
86,430 |
-2.9% |
89,000 |
|
BALANCE SHEET |
|||||
|
Accounts End Date |
31-12-2007 |
% |
31-12-2006 |
% |
31-12-2005 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
0 |
- |
0 |
- |
0 |
|
Tangible Fixed Assets |
613,631 |
-10.0% |
681,839 |
-9.8% |
756,000 |
|
- Land And Buildings |
506,418 |
-4.5% |
530,213 |
-4.3% |
554,000 |
|
- Plant And Machinery |
66,987 |
-32.2% |
98,780 |
-17.7% |
120,000 |
|
- Other Tangible Assets |
40,226 |
-23.9% |
52,846 |
-35.6% |
82,000 |
|
Financial Fixed Assets |
228,904 |
-1.9% |
233,313 |
0.1% |
233,000 |
|
Total Fixed Assets |
842,535 |
-7.9% |
915,152 |
-7.5% |
989,000 |
|
Inventories |
|||||
|
- Raw Materials & Consumables |
0 |
- |
0 |
- |
0 |
|
- Work in Progress |
0 |
- |
0 |
- |
0 |
|
- Finished Goods |
0 |
- |
0 |
- |
0 |
|
- Other Stocks |
14,273,626 |
8.2% |
13,194,700 |
-22.9% |
17,115,000 |
|
Trade Debtors |
6,598,150 |
-28.0% |
9,166,057 |
-2.1% |
9,364,000 |
|
Cash |
15,999 |
-27.5% |
22,081 |
-40.3% |
37,000 |
|
- Miscellaneous Current Assets |
391,864 |
-7.5% |
423,761 |
-55.9% |
960,000 |
|
Total Current Assets |
21,279,639 |
-6.7% |
22,806,599 |
-17.0% |
27,476,000 |
|
|
|||||
|
- Trade Creditors |
4,203,805 |
55.2% |
2,708,083 |
-26.8% |
3,702,000 |
|
- Short Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Short Term Loans |
7,744,205 |
-31.4% |
11,282,657 |
-24.0% |
14,850,000 |
|
- Miscellaneous Current Liabilities |
19,585 |
-38.5% |
31,855 |
27.4% |
25,000 |
|
Total Current Liabilities |
11,967,595 |
-14.7% |
14,022,595 |
-24.5% |
18,577,000 |
|
|
|||||
|
- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Loans |
410,453 |
-13.3% |
473,593 |
-50.3% |
953,000 |
|
- Other Long Term Liabilities |
203,639 |
453.7% |
36,777 |
8.2% |
34,000 |
|
Total Long Term Debts |
614,092 |
20.3% |
510,370 |
-48.3% |
987,000 |
|
|
|||||
|
- Issued Share Capital |
8,200,000 |
0.0% |
8,200,000 |
0.0% |
8,200,000 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
1,340,486 |
35.6% |
988,786 |
41.1% |
701,000 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
9,540,486 |
3.8% |
9,188,786 |
3.2% |
8,901,000 |
|
|
|||||
|
Working Capital |
9,312,044 |
6.0% |
8,784,004 |
-1.3% |
8,899,000 |
|
Net Worth |
9,540,486 |
3.8% |
9,188,786 |
3.2% |
8,901,000 |
|
RATIO ANALYSIS |
|||||
|
Trading
Performance |
|||||
|
Pre-tax Profit Margin |
1.10 |
39.2% |
0.79 |
1,680.0% |
-0.05 |
|
Return On Capital Employed |
3.58 |
15.1% |
3.11 |
1,736.8% |
-0.19 |
|
Return On Total Assets Employed |
1.64 |
29.1% |
1.27 |
1,914.3% |
-0.07 |
|
Return On Net Assets Employed |
3.90 |
13.4% |
3.44 |
1,738.1% |
-0.21 |
|
Sales / Net Working Capital |
3.55 |
-18.8% |
4.37 |
-7.4% |
4.72 |
|
Operating
Efficiency |
|||||
|
Stock Turnover Ratio |
43.12 |
25.3% |
34.40 |
-15.7% |
40.79 |
|
Debtor Days |
72.75 |
-16.6% |
87.22 |
7.1% |
81.45 |
|
Creditor Days |
48.09 |
80.0% |
26.72 |
-19.1% |
33.04 |
|
Short Term
Stability |
|||||
|
Current Ratio |
1.78 |
9.2% |
1.63 |
10.1% |
1.48 |
|
Liquidity Ratio / Acid Ratio |
0.59 |
-14.5% |
0.69 |
23.2% |
0.56 |
|
Current Debt Ratio |
1.25 |
-18.3% |
1.53 |
-26.8% |
2.09 |
|
Long Term
Stability |
|||||
|
Gearing |
85.47 |
-33.2% |
127.94 |
-27.9% |
177.54 |
|
Equity In Percentage |
0.43 |
10.3% |
0.39 |
25.8% |
0.31 |
|
Total Debt Ratio |
0.85 |
-33.6% |
1.28 |
-28.1% |
1.78 |
|
INDUSTRY COMPARISON
|
|
|
Activity Code |
46761 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
Payment
Expectations
|
PAYMENT
EXPECTATIONS |
|
|
Payment Expectation Days |
48.09 |
|
Day Sales Outstanding |
72.75 |
|
INDUSTRY
COMPARISON |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
|
INDUSTRY
QUARTILE ANALYSIS |
|
|
Payment
Expectation Days |
|
|
Payment Expectations - Lower |
42.94 |
|
Payment Expectations - Median |
83.26 |
|
Payment Expectations - Upper |
143.21 |
|
Day
Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
31.12 |
|
Day Sales Outstanding - Median |
70.24 |
|
Day Sales Outstanding - Upper |
143.90 |
Shareholders
No holding companies for this company.
No subsidaries for this company.
Court
Data
|
PROTESTED BILLS |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
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City of Drawer |
-- |
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NSSO DETAILS |
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|
Business Number |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
Labour Court |
-- |
|
Bankruptcy Data |
|
There is no bankruptcy data against this company. |
Directors
|
COMPANY DIRECTOR |
|
|
FullName |
KIRIT RATILAL JASANI |
|
Position |
Director |
|
Address |
6 BAILLET-LATOURLEI BRASSCHAAT |
|
Postal Code |
2930 |
|
Country |
-- |
|
COMPANY DIRECTOR |
|
|
FullName |
MALINI SHAH |
|
Position |
Director |
|
Address |
6 BAILLET LATOURL BRASSCHAAT |
|
Postal Code |
2930 |
|
Country |
-- |
|
COMPANY DIRECTOR |
|
|
FullName |
SHAILESH DINKERRAI SHAH |
|
Position |
Director |
|
Address |
116 JOZEF DE VEUSTERSTRAAT EDEGEM |
|
Postal Code |
2650 |
|
Country |
-- |
|
COMPANY DIRECTOR |
|
|
FullName |
ADITYA KIRIT JASANI |
|
Position |
Managing director |
|
Address |
6 BAILLET-LATOURLEI BRASSCHAAT |
|
Postal Code |
2930 |
|
Country |
-- |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.62 |
|
UK Pound |
1 |
Rs.76.71 |
|
Euro |
1 |
Rs.61.30 |
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%)