MIRA
INFORM REPORT
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Report Date : |
19.11.2008 |
IDENTIFICATION DETAILS
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Name : |
GEMINI CORPORATION NV |
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Registered Office : |
Waterwilgweg 6, Antwerpen |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
22.09.1989 |
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Legal Form : |
NV Public Limited Company |
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Line of Business : |
The Export
of Plastic Waste Material for Recycling to |
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 : |
Average 10 days beyond terms |
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Litigation : |
Clear |
name & address
Gemini Corporation
NV
Waterwilgweg 6
ANTWERPEN
Tel.:+32
(0)3-2194267
Fax.:+32
(0)3-2540428
Legal
status
NV Public limited company
[nat. law]
Founded
22/09/1989, P.l.c. since
21/11/1989
Trade
register
52273169
Capital
Nominal EUR 829.000,--
Issued and paid up EUR 829.000,--
Management
Surendra Kumar, Borad, Esmoreitlaan 3/76, 2050
Antwerpen
Kumar
Surana, Rakesh, Edmond de Coussemakerstraat 3/28, 2050 Antwerpen
Shashi, Prakash Bhansali, August Vermeyenlaan
3, 2050 Antwerpen
Ram Krishar, Prajapati, Hanegreefstraat 32, 2050
Antwerpen
Activity
The export
of plastic waste material for recycling to India; the export of carpets and floor
covering; import of garbage bags, oils, seeds and ropes; the export of
textiles, metals and paper.
Staff
11 employees
Turnover
Net turnover:
2007 Euro 45.608.155
2006 Euro 31.964.130
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:
2007 Euro 232.826
2006 Euro 154.162
The
shareholders equity was as of:
31/12/2007 Euro 1.884.879
31/12/2006 Euro 1.652.053
The working
capital was as of:
31/12/2007 Euro 1.143.371
31/12/2006 Euro 927.273
Accountants:
Vyvey &
Co., Vaartstraat 9/1, 2240 Massenhoven
Website :
www.geminicorp.be/
Banks
Fortis Bank
VAT-nr.
BE438488597
Mode
of payment
On average 10 days beyond
terms.
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from
the corporate balance sheet of :
Gemini Corporation NV
BALANCE
SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Intangible assets 106.645 64.602
Tangible assets 638.959 684.755
Financial assets 3.181 3.731
Miscellaneous fixed assets 0 0
Total fixed assets 748.785 753.088
Stock 79.077 827.025
Receivables 2.909.443 4.663.035
Shares 42.740 11.876
Liquid assets 1.884 1.239
Miscellaneous current assets 9.404 22.523
Total current assets 3.042.548 5.525.698
Shareholders
equity 1.652.053 1.884.879
Provisions 0 0
Long-term liabilities 0 0
Current liabilities 2.115.275 4.382.327
Minority interests 0 0
Miscellaneous
liabilities 24.005 11.580
Total liabilities 3.791.333 6.278.786
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Turnover 31.964.130 45.608.155
Other income 16.703 33.358
Total expenses 31.560.886 45.072.52
Operating profit 419.947 568.984
Balance financial P/L -193.027 -211.543
Net profit/loss 1] 226.920 357.441
Taxation 72.758 124.615
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 154.162 232.826
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 154.162 232.826
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 43,6 30
Equity/outside
capital 77,2 42,9
LIQUIDITY
Current ratio 1,4 1,3
Acid test 1,4 1,1
RATES OF RETURN %
Total assets 6 5,7
Shareholders equity 13,7 19
Pre tax
margin % 0,7 0,8
Turnover rate 843,1 726,4
(x
1) (x 1)
-------------------- --------------------
Working capital 927.273 1.143.371
Shareholders equity + Equalization acc. 1.652.053 1.884.879
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.74 |
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UK Pound |
1 |
Rs.74.37 |
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Euro |
1 |
Rs.62.78 |
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%)