MIRA
INFORM REPORT
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Report Date : |
16.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHAMAS BVBA |
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Registered Office : |
Vestingstraat 74 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 : |
01.02.1980 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale Trade of Raw
and Grinded Diamonds |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Average 10 days beyond terms |
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Litigation : |
Clear |
name & address
Shamas Bvba
Vestingstraat 74
2018 ANTWERPEN
Tel.:+32
(0)3-2273591
Fax.:+32
(0)3-2273591
Legal
status
Private limited company
Founded
01/02/1980, BVBA since
12/03/1981
Trade
register
99259824
Capital
Nominal EUR 18.600,--
Issued and paid up EUR 18.600,--
Management
Anuj Sanhy, Smolders
Blockstraat 29, 2650 Edegem
Activity
Wholesale trade of
raw and grinded diamants
Staff
1 employee.
Turnover
Net turnover:
2006 Euro 3.742.647
2005 Euro 1.235.071
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:
2006 Euro (367)
2005 Euro 2.918
The
shareholders equity was as of:
31/12/2006 Euro 70.206
31/12/2005 Euro 70.573
The working
capital was as of:
31/12/2006 Euro 63.189
31/12/2005 Euro 62.614
Complete
address :
Vestingstraat
74 bus 36 4th floor
B- 2018 ANTWERPEN
Bankers :
De Antwerpse Diamantbank
Banks
Under remarks
VAT-nr.
BE420259824
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 :
Shamas Bvba
BALANCE SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Intangible assets 0 0
Tangible assets 1.404 463
Financial assets 6.555 6.555
Miscellaneous
fixed assets 0 0
Total fixed assets 7.959 7.018
Stock 0 0
Receivables 654.612 1.926.281
Shares 0 0
Liquid assets 23.811 76.476
Miscellaneous
current assets 1.091 1.010
Total current
assets 679.514 2.003.767
Shareholders equity 70.573 70.206
Provisions 0 0
Long-term
liabilities 0 0
Current
liabilities 616.900 1.940.578
Minority interests 0 0
Miscellaneous
liabilities 0 1
Total liabilities 687.473 2.010.785
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2005--- ------31-12-2006---
Turnover 1.235.071 3.742.647
Other income 0 0
Total expenses 1.232.376 3.741.635
Operating profit 2.695 1.012
Balance financial
P/L 2.182 -1.334
Net profit/loss 1] 4.877 -322
Taxation 1.959 45
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 2.918 -367
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 2.918 -367
----------------------------------------------------------------------------------------------------------------
Legend : 1]
= Before tax
2]
= After tax
FINANCIAL
RATIOS
-----2005----- -----2006-----
EQUITY
%
Equity gearing 10,3 3,5
Equity/outside capital 11,4 3,6
LIQUIDITY
Current ratio 1,1 1
Acid test 1,1 1
RATES OF RETURN %
Total assets 0,7 0
Shareholders
equity 6,9 -0,5
Pre tax margin
% 0,4 0
Turnover rate 179,7 186,1
(x
1) (x 1)
-------------------- --------------------
Working capital 62.614 63.189
Shareholders
equity + Equalization acc. 70.573 70.206
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.63 |
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UK Pound |
1 |
Rs.83.76 |
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Euro |
1 |
Rs.66.49 |
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%)