MIRA
INFORM REPORT
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Report Date : |
17.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
DEV GEMS BVBA |
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Registered Office : |
Hoveniersstraat 40 2018
Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
19.05.2005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Retail
Trade in and Wholesale Business in, including Import/Export, Diamonds,
Ornamental Stones, Precious Stones, etc.
both Polished and Unpolished. |
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 : |
No Complaints |
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Litigation : |
Clear |
name & address
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Dev Gems Bvba |
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Hoveniersstraat
40 |
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2018 ANTWERPEN |
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Tel.:+32
(0)3-2394839 |
Legal
status
Private limited company
Founded
19/05/2005 as BVBA
Trade
register
73988410
Capital
Nominal EUR 18.600,--
Issued and paid up EUR 6.200,--
Management
Deepak Chhajlani, Jacob Jacobstraat 50, 2018
Antwerpen.
Activity
Retail trade
in and wholesale business in, including import/export, diamonds, ornamental
stones, precious stones, etc. both
polished and unpolished.
Staff
1 employee.
Turnover
Net turnover:
2007 Euro 425.862
2006 Euro 244.172
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 7.799
2006 Euro 1.035
The shareholders equity was as
of:
31/12/2007 Euro 15.034
31/12/2006 Euro 7.235
The working capital was as of:
31/12/2007 Euro 14.931
31/12/2006 Euro 7.235
Bankers : Antwerpse Diamantbank
Banks
Under remarks
VAT-nr.
BE873988410
Mode
of payment
No complaints have been
registered
Credit
demand
No objections against
entering into a business relationship.
The following financial data is retrieved from
the corporate balance sheet of :
Dev Gems Bvba
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Intangible assets 0 0
Tangible assets 0 103
Financial assets 0 0
Miscellaneous fixed assets 0 0
Total fixed
assets 0 103
Stock 13.548 44.623
Receivables 33.241 219.130
Shares 0 0
Liquid assets 3.154 8.484
Miscellaneous current assets 0 0
Total current
assets 49.943 272.237
Shareholders
equity 7.235 15.034
Provisions 0 0
Long-term liabilities 0 0
Current liabilities 42.708 257.306
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 49.943 272.340
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Turnover 244.172 425.862
Other income 0 0
Total expenses 241.474 411.705
Operating profit 2.698 14.157
Balance financial P/L -1.663 -3.858
Net profit/loss 1] 1.035 10.299
Taxation 0 2.500
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 1.035 7.799
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 1.035 7.799
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 14,5 5,5
Equity/outside
capital 16,9 5,8
LIQUIDITY
Current ratio 1,2 1,1
Acid test 0,9 0,9
RATES OF RETURN %
Total assets 2,1 3,8
Shareholders equity 14,3 68,5
Pre tax
margin % 0,4 2,4
Turnover rate 488,9 156,4
(x
1) (x 1)
-------------------- --------------------
Working capital 7.235 14.931
Shareholders equity + Equalization acc. 7.235 15.034
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)