MIRA
INFORM REPORT
|
Report Date : |
26.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ELITE GEMS BVBA |
|
|
|
|
Registered Office : |
9 Schupstraat Antwerpen 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
08.03.1991 |
|
|
|
|
Com. Reg. No.: |
443374528 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Diamonds and Other Precious Stones |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Company Summary
|
COMPANY SUMMARY |
|
|
Business Name |
ELITE GEMS BVBA |
|
Business Number |
443374528 |
|
Address |
9 SCHUPSTRAAT ANTWERPEN |
|
Post Code |
2018 |
|
Telephone |
032331218 |
|
Fax Number |
|
|
Date of Establisment |
08-03-1991 |
|
Number of Employees |
0 |
|
CREDIT
INFORMATION SUMMARY |
|
|
Date of Deposit at Registry |
30-07-2007 |
|
Date of Last Accounts |
31-12-2006 |
|
Turnover |
1,190,274 |
|
Results of Ordinary Operations Before Tax |
7,292 |
|
Networth |
50,619 |
|
PAST PAYMENTS |
|
|
Payment Expectation Days |
344.45 |
|
Days Sales Outstanding |
275.64 |
|
Industry Average Payment Expectation Days |
128.46 |
|
Industry Average Day Sales Outstanding |
112.44 |
|
COURT DATA
SUMMARY |
|
|
bankruptcy
details |
|
|
Court Action Type |
None |
|
Protested
Bills |
|
|
Bill Amount |
|
|
NSSO
Details |
|
|
Date of Summons |
-- |
Company
Information
|
COMPANY DETAILS |
|
|
Business Number |
443374528 |
|
Name |
ELITE GEMS BVBA |
|
Establishment Date |
08-03-1991 |
|
Company Status |
ACTIVE |
|
Company Type |
Private limited liability company |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
LATEST BRANCH
DETAILS |
|
|
Street |
HOVENIERSSTRAAT |
|
House Number |
40 |
|
City |
ANTWERPEN |
|
Postal Code |
2018 |
|
Trade Registered Number |
282158 |
|
Trade Registered Entry Date |
01-04-1991 |
|
CONTRACTOR
DETAILS |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
|
|
|
LATEST EVENT |
|
|
Serial Number |
47 |
|
Event Description |
Dismissal |
Accounts
& Ratio
|
PERIOD |
|||||
|
Accounts End Date |
31-12-2006 |
% |
31-12-2005 |
% |
31-12-2004 |
|
Weeks |
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
PROFIT &
LOSS |
|||||
|
Turnover |
1,190,274 |
-37.9% |
1,916,133 |
8.2% |
1,771,327 |
|
Total Operating Expenses |
1,177,391 |
-33.6% |
1,773,395 |
-3.4% |
1,835,511 |
|
Operating Result |
12,883 |
-91.0% |
142,738 |
322.4% |
-64,184 |
|
Total Financial Income |
122 |
-99.9% |
134,651 |
-51.9% |
280,223 |
|
Total Financial Expenses |
5,713 |
-97.9% |
269,791 |
25.4% |
215,214 |
|
Results on Ordinary Operations Before Tax |
7,292 |
-4.0% |
7,598 |
821.0% |
825 |
|
Taxation |
1,957 |
-0.3% |
1,962 |
791.8% |
220 |
|
Results on Ordinary Operations After Tax |
5,335 |
-5.3% |
5,636 |
831.6% |
605 |
|
Extraordinary Items |
0 |
100.0% |
-159 |
- |
0 |
|
Net Result |
5,335 |
-2.6% |
5,477 |
805.3% |
605 |
|
Other Information |
|||||
|
Dividends |
- |
- |
- |
- |
8 |
|
Director Remuneration |
- |
- |
- |
- |
- |
|
Employee Costs |
0 |
- |
0 |
- |
0 |
|
- Wages & Salaries |
- |
- |
- |
- |
- |
|
- Social Security Contributions |
- |
- |
- |
- |
- |
|
- Other Employee Costs |
- |
- |
- |
- |
- |
|
Amortization & Depreciation |
503 |
0.0% |
503 |
-9.7% |
557 |
|
BALANCE SHEET |
|||||
|
Accounts End Date |
31-12-2006 |
% |
31-12-2005 |
% |
31-12-2004 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
0 |
- |
0 |
- |
0 |
|
Tangible Fixed Assets |
520 |
-49.2% |
1,024 |
-39.3% |
1,687 |
|
- Land And Buildings |
0 |
- |
0 |
- |
0 |
|
- Plant And Machinery |
469 |
-49.1% |
922 |
-39.9% |
1,533 |
|
- Other Tangible Assets |
51 |
-50.0% |
102 |
-33.8% |
154 |
|
Financial Fixed Assets |
4,470 |
-54.5% |
9,824 |
83.5% |
5,354 |
|
Total Fixed Assets |
4,990 |
-54.0% |
10,848 |
54.1% |
7,041 |
|
Inventories |
|||||
|
- Raw Materials & Consumables |
0 |
- |
0 |
- |
0 |
|
- Work in Progress |
0 |
- |
0 |
- |
0 |
|
- Finished Goods |
0 |
- |
0 |
- |
0 |
|
- Other Stocks |
705,207 |
-28.1% |
980,455 |
-20.1% |
1,227,184 |
|
Trade Debtors |
898,860 |
10.7% |
811,922 |
1,420.5% |
53,400 |
|
Cash |
20,590 |
-20.7% |
25,953 |
153.4% |
10,240 |
|
- Miscellaneous Current Assets |
3,477 |
-23.1% |
4,520 |
161.4% |
1,729 |
|
Total Current Assets |
1,628,134 |
-10.7% |
1,822,850 |
41.0% |
1,292,553 |
|
|
|||||
|
- Trade Creditors |
1,111,108 |
-13.2% |
1,279,523 |
54.5% |
827,917 |
|
- Short Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Short Term Loans |
17,476 |
23.9% |
14,104 |
63.1% |
8,649 |
|
- Miscellaneous Current Liabilities |
449,384 |
-8.5% |
491,104 |
16.3% |
422,114 |
|
Total Current Liabilities |
1,577,968 |
-11.6% |
1,784,731 |
41.8% |
1,258,680 |
|
- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Liabilities |
4,537 |
23.2% |
3,683 |
232.7% |
1,107 |
|
Total Long Term Debts |
4,537 |
23.2% |
3,683 |
232.7% |
1,107 |
|
|
|||||
|
- Issued Share Capital |
18,600 |
0.0% |
18,600 |
0.0% |
18,600 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
32,019 |
20.0% |
26,684 |
25.8% |
21,207 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
50,619 |
11.8% |
45,284 |
13.8% |
39,807 |
|
Working Capital |
50,166 |
31.6% |
38,119 |
12.5% |
33,873 |
|
Net Worth |
50,619 |
11.8% |
45,284 |
13.8% |
39,807 |
|
RATIO ANALYSIS |
|||||
|
Trading
Performance |
|||||
|
Pre-tax Profit Margin |
0.61 |
52.5% |
0.40 |
700.0% |
0.05 |
|
Return On Capital Employed |
13.22 |
-14.8% |
15.52 |
668.3% |
2.02 |
|
Return On Total Assets Employed |
0.45 |
9.8% |
0.41 |
583.3% |
0.06 |
|
Return On Net Assets Employed |
14.54 |
-27.0% |
19.93 |
716.8% |
2.44 |
|
Sales / Net Working Capital |
23.73 |
-52.8% |
50.27 |
-3.9% |
52.29 |
|
Operating
Efficiency |
|||||
|
Stock Turnover Ratio |
59.25 |
15.8% |
51.17 |
-26.1% |
69.28 |
|
Debtor Days |
275.64 |
78.2% |
154.66 |
1,306.0% |
11.00 |
|
Creditor Days |
344.45 |
30.8% |
263.35 |
60.0% |
164.64 |
|
Short Term
Stability |
|||||
|
Current Ratio |
1.03 |
1.0% |
1.02 |
-1.0% |
1.03 |
|
Liquidity Ratio / Acid Ratio |
0.58 |
23.4% |
0.47 |
840.0% |
0.05 |
|
Current Debt Ratio |
31.17 |
-20.9% |
39.41 |
24.6% |
31.62 |
|
Long Term
Stability |
|||||
|
Gearing |
34.52 |
10.8% |
31.15 |
43.4% |
21.73 |
|
Equity In Percentage |
0.03 |
50.0% |
0.02 |
-33.3% |
0.03 |
|
Total Debt Ratio |
0.35 |
12.9% |
0.31 |
40.9% |
0.22 |
INDUSTRY
COMPARISON
Activity Code 46761
Activity
Description Wholesale
of diamonds and other precious stones
Payment
Expectations
|
PAYMENT
EXPECTATIONS |
|
|
Payment Expectation Days |
344.45 |
|
Day Sales Outstanding |
275.64 |
|
INDUSTRY
COMPARISON |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
|
Industry Average Day Sales Outstanding |
112.44 |
|
Industry Average Payment Expectation Days |
128.46 |
|
INDUSTRY
QUARTILE ANALYSIS |
|
|
Payment
Expectation Days |
|
|
Payment Expectations - Lower |
43.35 |
|
Payment Expectations - Median |
83.34 |
|
Payment Expectations - Upper |
143.01 |
|
Day
Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
31.05 |
|
Day Sales Outstanding - Median |
69.93 |
|
Day Sales Outstanding - Upper |
144.39 |
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 |
-- |
|
City of Drawer |
-- |
|
NSSO DETAILS |
|
|
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 |
NAROTTAM SHAH |
|
Position |
Manager |
|
Address |
89 HARROWES MEADE EDGWARE MIDDLESEX |
|
Postal Code |
0 |
|
Country |
United Kingdom |
|
COMPANY DIRECTOR |
|
|
FullName |
HIMANSHU SHAH |
|
Position |
Manager |
|
Address |
6 AHORNENLAAN WILRIJK (ANTW.) |
|
Postal Code |
2610 |
|
Country |
-- |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.85 |
|
UK Pound |
1 |
Rs.76.60 |
|
Euro |
1 |
Rs.64.68 |
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%)