MIRA INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELITE JEWELS BVBA |
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Registered Office : |
Hoveniersstraat 30, Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
09.11.1988 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale business in Jewellery. |
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 5 days beyond terms |
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Litigation : |
Clear |
name & address
Elite Jewels Bvba
Hoveniersstraat 30
ANTWERPEN
Tel.:+32
(0)3-2015170
Fax.:+32
(0)3-2316700
Legal status
Private limited company
Founded
09/11/1988, BVBA since 05/12/1988
Trade register
52266051
Capital
nominal EUR 18.592,--
issued and paid up EUR 18.592,--
Management
Parikh Swati, Desguinlei 90, 2018 Antwerpen
Ajit Mehta, Desguinlei 90, 2018 Antwerpen
Activity
Wholesale business in jewellery.
Staff
4 employees
Turnover
Net turnover:
2007 Euro 1.802.449
2006 Euro 1.975.830
Real
estate
The business
premises at the mentioned address has been rented by the company, as far as we
know.
Finances
See balance sheet
Remarks Net result:
2007 Euro 21.919
2006 Euro 12.594
The shareholders
equity was as of:
31/12/2007
Euro 91.321
31/12/2006
Euro 69.401
The working capital was as of:
31/12/2007 Euro 38.369
31/12/2006 Euro 24.148
Former address:
Hoveniersstraat 2,
KM 539 2018 Antwerpen
Banks
ABN-AMRO Bank NV
KBC Bank
ABN-AMRO Bank NV
VAT-nr.
BE435745477
Mode
of payment
On average 5 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
Elite Jewels Bvba
Hoveniersstraat 30, ANTWERPEN
Trade register 52266051
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Elite Jewels Bvba *** BALANCE SHEET ***
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Intangible assets 16.000 12.000
Tangible assets 46.424 55.980
Financial assets 22.709 18.626
Miscellaneous
fixed assets 0 0
Total fixed assets 85.133 86.606
Stock 3.802.540 4.287.371
Receivables 1.167.780 803.521
Shares 0 69.893
Liquid assets 69.740 56.924
Miscellaneous
current assets 98.737 431
Total current assets 5.138.797 5.218.140
Shareholders equity 69.401 91.321
Provisions 0 0
Long-term
liabilities 5.700 5.700
Current
liabilities 5.114.649 5.179.771
Minority interests 0 0
Miscellaneous
liabilities 34.180 27.954
Total liabilities 5.223.930 5.304.746
PROFIT & LOSS ACCOUNT
Elite Jewels Bvba
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Turnover 1.975.830 1.802.449
Other income 0 0
Total expenses 1.722.252 1.522.829
Operating profit 253.578 279.620
Balance financial
P/L -213.921 -245.174
Net profit/loss 1] 39.657 34.446
Taxation 27.063 12.527
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] 12.594 21.919
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 12.594 21.919
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
Elite Jewels
Bvba
-----2006----- -----2007-----
EQUITY %
Equity gearing 1,3 1,7
Equity/outside
capital 1,3 1,8
LIQUIDITY
Current ratio 1 1
Acid test 0,3 0,2
RATES OF RETURN %
Total assets 0,8 0,6
Shareholders equity 57,1 37,7
Pre tax
margin % 2 1,9
Turnover rate 37,8 34
(x
1) (x 1)
-------------------- --------------------
Working capital 24.148 38.369
Shareholders equity + Equalization acc. 69.401 91.321
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)