MIRA
INFORM REPORT
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Report Date : |
03.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHIVANI GEMS CVA |
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Registered Office : |
Schupstraat 1-7, 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 : |
22/01/1982 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import and Export of Von 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 : |
Average 20 days beyond terms |
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Litigation : |
Clear |
name & address
Shivani Gems Cva
Schupstraat 1-7
2018 ANTWERPEN
Tel.:+32
(0)3-2311686
Fax.:+32
(0)3-2325852
Legal
status
--
Founded
22/01/1982, since 10/12/1996
Trade
register
52231506
Capital
nominal EUR 694.000,--
Board
member
DE VRY Mariette A.E.
DE DECKER Peggy
Management
SHAH Shital
MEHTA Hemant
Activity
Import and export
von diamonds.
Staff
1 employee.
Turnover
Net turnover:
2006 Euro 9.935.002
2005 Euro 15.483.008
2004 Euro 12.833.002
Real
estate
Unknown.
Finances
See balance sheet
Remarks
Net result:
2006 Euro 903.993
2005 Euro 26.996
2004 Euro 11.998
The shareholders equity was as of:
31/12/2006 Euro 1.738.006
31/12/2005 Euro 833.988
31/12/2004 Euro 806.993
The working capital was as of:
31/12/2006 Euro 4.292.994
31/12/2005 Euro 3.783.995
31/12/2004 Euro 3.298.992
Previous name:
SHIVANI GEMS
CVOA
Import : India
Export : the
USA
Auditors:
L.M.D. & Partners BVBA, Peetersstraat 133, 2600
Kanunnik
Mr. Kumurpal
Shah resigned during March 2005 as he had moved to India.
Banks
ABN-AMRO NV
VAT-nr.
BE422531406
Mode
of payment
On average 20 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 :
Shivani Gems Cva
BALANCE
SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 685.996 700.002
Financial assets 5.999 5.999
Miscellaneous fixed assets 0 0
Total fixed
assets 691.995 706.001
Stock 4.672.000 3.819.990
Receivables 5.637.991 3.994.010
Shares 0 0
Liquid assets 11.006 2.008
Miscellaneous current assets 0 0
Total current
assets 10.320.997 7.816.008
Shareholders
equity 833.988 1.738.006
Provisions 0 0
Long-term liabilities 3.642.002 3.260.990
Current liabilities 6.537.002 3.523.014
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 11.012.992 8.522.009
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 15.483.008 9.935.002
Other income 12.990 14.998
Total expenses 15.130.008 9.588.001
Operating profit 365.990 361.999
Balance financial P/L -344.002 -315.990
Net profit/loss 1] 21.988 46.009
Taxation 14.998 46.009
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 6.990 0
Balance extraordinary P/L 20.005 903.993
Taxation 0 0
Extraordinary P/L 2] 20.005 903.993
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 26.996 903.993
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity
gearing 7,6 20,4
Equity/outside
capital 8,2 25,6
LIQUIDITY
Current
ratio 1,6 2,2
Acid
test 0,9 1,1
RATES
OF RETURN %
Total
assets 0,2 0,5
Shareholders equity 2,6 2,6
Pre
tax margin % 0,1 0,5
Turnover
rate 140,6 116,6
(x 1) (x 1)
------------------- --------------------
Working
capital 3.783.995 4.292.994
Shareholders equity + Equalization acc. 833.988 1.738.006
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FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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%)