MIRA
INFORM REPORT
|
Report Date : |
11.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GEMBEL EUROPEAN SALES NV |
|
|
|
|
Registered Office : |
74 Vestingstraat Antwerpen |
|
|
|
|
Country : |
Belgium |
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|
|
|
Financials (as on) : |
31.12.2007 |
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|
|
|
Date of Incorporation : |
11.03.1997 |
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|
|
|
Com. Reg. No.: |
460253815 |
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|
|
|
Legal Form : |
Limited Company |
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|
|
|
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
Company
Summary
|
COMPANY SUMMARY |
|
|
Business Name |
GEMBEL EUROPEAN SALES NV |
|
Business Number |
460253815 |
|
Address |
74 VESTINGSTRAAT ANTWERPEN |
|
Post Code |
2018 |
|
Telephone |
032314815 |
|
Fax Number |
032340539 |
|
Date of Establisment |
11-03-1997 |
|
Number of Employees |
8 |
|
CREDIT
INFORMATION SUMMARY |
||
|
Company Status |
ACTIVE |
|
|
Date of Deposit at Registry |
23-07-2008 |
|
|
Date of Last Accounts |
31-12-2007 |
|
|
Turnover |
127,797,228 |
|
|
Results of Ordinary Operations Before Tax |
413,867 |
|
|
Networth |
20,495,764 |
|
|
PAST PAYMENTS |
|
|
Payment Expectation Days |
74.67 |
|
Days Sales Outstanding |
122.19 |
|
Industry Average Payment Expectation Days |
128.60 |
|
Industry Average Day Sales Outstanding |
112.52 |
|
COURT DATA
SUMMARY |
|
|
bankruptcy
details |
|
|
Court Action Type |
None |
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Protested
Bills |
|
|
Bill Amount |
|
|
NSSO
Details |
|
|
Date of Summons |
-- |
Company
Information
|
Company Details |
|
|
Business Number |
460253815 |
|
Name |
GEMBEL EUROPEAN SALES NV |
|
Fax Number |
032340539 |
|
Establishment Date |
11-03-1997 |
|
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 |
-- |
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House Number |
|
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City |
-- |
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Postal Code |
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|
Trade Registered Number |
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Trade Registered Entry Date |
-- |
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CONTRACTOR
DETAILS |
|
|
Registration Number |
-- |
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Contractor Description |
-- |
|
Striking Off Date |
-- |
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LATEST EVENT |
|
|
Serial Number |
141891 |
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Event Description |
Reappointment commissioner |
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 |
127,797,228 |
50.6% |
84,857,740 |
-7.1% |
91,389,000 |
|
Total Operating Expenses |
125,849,932 |
99.3% |
63,159,275 |
-28.7% |
88,565,000 |
|
Operating Result |
1,947,296 |
-91.0% |
21,698,465 |
668.4% |
2,824,000 |
|
Total Financial Income |
981,154 |
-25.1% |
1,310,687 |
2,327.2% |
54,000 |
|
Total Financial Expenses |
2,514,583 |
-0.6% |
2,529,166 |
2.0% |
2,479,000 |
|
Results on Ordinary Operations Before Tax |
413,867 |
-98.0% |
20,479,986 |
5,032.8% |
399,000 |
|
Taxation |
191,746 |
-83.7% |
1,178,393 |
489.2% |
200,000 |
|
Results on Ordinary Operations After Tax |
222,121 |
-98.8% |
19,301,593 |
9,599.3% |
199,000 |
|
Extraordinary Items |
0 |
- |
0 |
100.0% |
-7,000 |
|
Net Result |
222,121 |
-98.8% |
19,301,593 |
9,952.9% |
192,000 |
|
Other Information |
|||||
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Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
326,703 |
155.2% |
128,006 |
- |
- |
|
Employee Costs |
461,587 |
9.2% |
422,830 |
-8.3% |
461,000 |
|
- Wages & Salaries |
395,269 |
13.4% |
348,541 |
-9.0% |
383,000 |
|
- Social Security Contributions |
56,551 |
-11.7% |
64,080 |
-14.6% |
75,000 |
|
- Other Employee Costs |
9,767 |
-4.3% |
10,209 |
240.3% |
3,000 |
|
Amortization & Depreciation |
1,860 |
0.0% |
1,860 |
86.0% |
1,000 |
|
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 |
198,080 |
19.5% |
165,726 |
231.5% |
50,000 |
|
- Land And Buildings |
0 |
- |
0 |
- |
0 |
|
- Plant And Machinery |
36,442 |
41.4% |
25,770 |
-21.9% |
33,000 |
|
- Other Tangible Assets |
161,638 |
15.5% |
139,956 |
723.3% |
17,000 |
|
Financial Fixed Assets |
684,203 |
5.6% |
647,999 |
8,000.0% |
8,000 |
|
Total Fixed Assets |
882,283 |
8.4% |
813,725 |
1,303.0% |
58,000 |
|
Inventories |
|||||
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- Raw Materials & Consumables |
0 |
- |
0 |
- |
0 |
|
- Work in Progress |
0 |
- |
0 |
- |
0 |
|
- Finished Goods |
0 |
- |
0 |
- |
0 |
|
- Other Stocks |
30,928,028 |
-37.4% |
49,419,950 |
99.4% |
24,781,000 |
|
Trade Debtors |
42,781,042 |
21.3% |
35,277,963 |
-8.1% |
38,399,000 |
|
Cash |
1,207,341 |
71.9% |
702,349 |
1,426.8% |
46,000 |
|
- Miscellaneous Current Assets |
708,337 |
4.6% |
677,090 |
112.9% |
318,000 |
|
Total Current Assets |
75,624,748 |
-12.1% |
86,077,352 |
35.5% |
63,544,000 |
|
|
|||||
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- Trade Creditors |
25,744,583 |
-22.9% |
33,407,865 |
2.0% |
32,744,000 |
|
- Short Term Group Loans |
9,335,474 |
-7.9% |
10,138,194 |
-5.6% |
10,740,000 |
|
- Other Short Term Loans |
29,949,046 |
-7.1% |
32,239,071 |
8.7% |
29,653,000 |
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- Miscellaneous Current Liabilities |
-9,157,075 |
3.0% |
-9,442,486 |
10.9% |
-10,599,000 |
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Total Current Liabilities |
55,872,028 |
-15.8% |
66,342,644 |
6.1% |
62,538,000 |
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|
|||||
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- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Liabilities |
139,238 |
-49.3% |
274,790 |
198.7% |
92,000 |
|
Total Long Term Debts |
139,238 |
-49.3% |
274,790 |
198.7% |
92,000 |
|
|
|||||
|
- Issued Share Capital |
957,582 |
0.0% |
957,582 |
0.0% |
958,000 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
19,538,182 |
1.1% |
19,316,061 |
137,871.9% |
14,000 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
20,495,764 |
1.1% |
20,273,643 |
1,985.8% |
972,000 |
|
|
|||||
|
Working Capital |
19,752,720 |
0.1% |
19,734,708 |
1,861.7% |
1,006,000 |
|
Net Worth |
20,495,764 |
1.1% |
20,273,643 |
1,985.8% |
972,000 |
|
RATIO ANALYSIS |
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Trading Performance |
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Pre-tax Profit Margin |
0.32 |
-98.7% |
24.13 |
5,384.1% |
0.44 |
|
Return On Capital Employed |
2.01 |
-98.0% |
99.67 |
165.8% |
37.50 |
|
Return On Total Assets Employed |
0.54 |
-97.7% |
23.57 |
3,641.3% |
0.63 |
|
Return On Net Assets Employed |
2.10 |
-98.0% |
103.78 |
161.7% |
39.66 |
|
Sales / Net Working Capital |
6.47 |
50.5% |
4.30 |
-95.3% |
90.84 |
|
Operating Efficiency |
|||||
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Stock Turnover Ratio |
24.20 |
-58.4% |
58.24 |
114.7% |
27.12 |
|
Debtor Days |
122.19 |
-19.5% |
151.74 |
-1.1% |
153.36 |
|
Creditor Days |
74.67 |
-61.3% |
193.07 |
43.1% |
134.95 |
|
Short Term Stability |
|||||
|
Current Ratio |
1.35 |
3.8% |
1.30 |
27.5% |
1.02 |
|
Liquidity Ratio / Acid Ratio |
0.80 |
45.5% |
0.55 |
-11.3% |
0.62 |
|
Current Debt Ratio |
2.73 |
-16.5% |
3.27 |
-94.9% |
64.34 |
|
Long Term Stability |
|||||
|
Gearing |
191.67 |
-8.3% |
209.03 |
-95.0% |
4,155.66 |
|
Equity In Percentage |
0.27 |
17.4% |
0.23 |
1,050.0% |
0.02 |
|
Total Debt Ratio |
1.92 |
-8.1% |
2.09 |
-95.0% |
41.56 |
Payment
Expectations
|
PAYMENT
EXPECTATIONS |
|
|
Payment Expectation Days |
74.67 |
|
Day Sales Outstanding |
122.19 |
|
INDUSTRY
COMPARISON |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
|
Industry Average Day Sales Outstanding |
112.52 |
|
Industry Average Payment Expectation Days |
128.60 |
|
INDUSTRY
QUARTILE ANALYSIS |
|
|
Payment Expectation Days |
|
|
Payment Expectations - Lower |
43.35 |
|
Payment Expectations - Median |
83.34 |
|
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
|
HOLDING COMPANY |
|
|
Company Name |
ARPEE GEM PTE LTD |
|
Business Number |
2114895 |
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Share Percentage |
|
|
Annual Accounts Date |
-- |
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No subsidaries for this company. |
Court
Data
|
PROTESTED BILLS |
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|
Drawee Name |
-- |
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Drawee Address |
-- |
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Bill Amount |
|
|
Bill Currency |
-- |
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Maturity of Bill (month) |
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Name of Drawer |
-- |
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City of Drawer |
-- |
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NSSO DETAILS |
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|
Business Number |
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Name of Defendant |
-- |
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Legal Form of Defendant |
-- |
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Date of Summons |
|
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Labour Court |
-- |
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Bankruptcy Data |
|
There is no bankruptcy data against this company. |
Directors
|
COMPANY DIRECTOR |
|
|
FullName |
RASHMI KIRTILAL MEHTA |
|
Position |
Managing director |
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Address |
27 BERKENLAAN WILRIJK (ANTW.) |
|
Postal Code |
2610 |
|
Country |
-- |
|
COMPANY DIRECTOR |
|
|
FullName |
CHETAN MEHTA |
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Position |
Managing director |
|
Address |
33 BERKENLAAN WILRIJK (ANTW.) |
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Postal Code |
2610 |
|
Country |
-- |
|
COMPANY DIRECTOR |
|
|
FullName |
BHAVIN MEHTA |
|
Position |
Managing director |
|
Address |
27 BERKENLAAN WILRIJK (ANTW.) |
|
Postal Code |
2610 |
|
Country |
-- |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.59 |
|
UK Pound |
1 |
Rs.74.55 |
|
Euro |
1 |
Rs.60.57 |
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%)