MIRA
INFORM REPORT
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Report Date : |
20.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
EURO DISTRIBUTORS DIAMONDS BVBA |
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Registered Office : |
Pelikaanstraat 62 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 : |
15.03.2002 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processing and having processed of and taking into and giving
into consignment of polished and unpolished diamonds, precious stones,
jewellery, precious metals and related products. |
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
Euro Distributors
Diamonds Bvba
Pelikaanstraat 62
2018 ANTWERPEN
Tel.:+32
(0)3-4405035
Legal status
Private limited company
Founded
15/03/2002 as BVBA
Trade register
77230496
Capital
Nominal EUR 19.000,--
Issued and paid up EUR 19.000,--
Management
Girish Kadel, Van Eyklei 28/8, Antwerpen.
Activity
Processing and having processed of and taking into and giving into consignment of polished and unpolished diamonds, precious stones, jewellery, precious metals and related products.
Staff
3 employees
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 4.977
2006 Euro (2.429)
The
shareholders equity was as of:
31/12/2007 Euro 22.907
31/12/2006 Euro 17.929
The working
capital was as of:
31/12/2007 Euro 632.175
31/12/2006 Euro 17.242
Other bankers:
Antwerpse
Diamantbank
Banks
Under remarks
VAT-nr.
BE477230496
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 :
Euro Distributors Diamonds Bvba
BALANCE
SHEET
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Intangible assets 0 0
Tangible assets 429 1.383
Financial assets 258 258
Miscellaneous fixed assets 0 0
Total fixed assets 687 1.641
Stock 0 1.853.376
Receivables 223.290 622.341
Shares 0 0
Liquid assets 1.819 99.129
Miscellaneous current assets 0 0
Total current assets 225.109 2.574.846
Shareholders
equity 17.929 22.907
Provisions 0 0
Long-term liabilities 0 610.909
Current liabilities 207.867 1.942.671
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 225.796 2.576.487
PROFIT
& LOSS ACCOUNT
Corporate in Euro(x
1) Euro(x 1)
---31-12-2006--- ------31-12-2007---
Turnover 0 0
Other income 0 0
Total expenses 0 0
Operating profit -1.225 7.530
Balance financial P/L -1.204 -716
Net profit/loss 1] -2.429 6.814
Taxation 0 1.837
Share in P/L of subsidiaries 0 0
Net profit/loss 2] -2.429 4.977
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 -2.429 4.977
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2006----- -----2007-----
EQUITY %
Equity gearing 7,9 0,9
Equity/outside
capital 8,6 0,9
LIQUIDITY
Current ratio 1,1 1,3
Acid test 1,1 0,4
RATES OF RETURN %
Total assets -1,1 0,3
Shareholders equity -13,5 29,7
Pre tax
margin % 0 0
Turnover rate 0 0
(x
1) (x 1)
-------------------- --------------------
Working capital 17.242 632.175
Shareholders equity + Equalization acc. 17.929 22.907
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.32 |
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UK Pound |
1 |
Rs.83.57 |
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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%)