MIRA INFORM REPORT
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Report Date : |
09.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
GLORIOUS GEMS BVBA |
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Registered Office : |
30, Hoveniersstraat, Antwerpen 2018 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
28.10.1997 |
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Com. Reg. No.: |
461869854 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesale of diamonds and other precious stones |
RATING & COMMENTS
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MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Summary
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company details |
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Company Number |
461869854 |
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Name |
GLORIOUS GEMS BVBA |
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Address |
30, HOVENIERSSTRAAT, ANTWERPEN |
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Post Code |
2018 |
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Telephone Number |
032317406 |
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Fax Number |
032272094 |
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Establishment Date |
28-10-1997 |
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Company Status |
ACTIVE |
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Company Type |
Private limited liability company |
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Number of Employees |
1 |
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Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
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Liable For Vat |
yes |
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Currency |
Euro (€) |
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Latest Branch Details |
|
|
Street |
LANGE HERENTALSESTRAAT |
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House Number |
122 |
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City |
ANTWERPEN |
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Postal Code |
2018 |
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Trade Registered Number |
325743 |
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Trade Registered Entry Date |
01-11-1997 |
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Contractor Details |
|
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Registration Number |
-- |
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Contractor Description |
-- |
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Striking Off Date |
-- |
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Latest Event |
|
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Serial Number |
93311 |
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Event Description |
Reappointment commissioner |
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Limit |
|
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Credit Information |
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Purchase Limit (€) |
13,900,000 |
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Industry Comparison |
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Industry Average Credit Rating |
66.66 |
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Industry Average Credit Limit (€) |
160,182 |
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Payment Expectations |
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Payment Expectations |
|
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Payment Expectation Days |
39.97 |
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Day Sales Outstanding |
123.70 |
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Industry Comparison |
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Activity Code |
4676 |
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Activity Description |
Wholesale of other intermediate products |
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Industry Average
Day Sales Outstanding |
124.66 |
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Industry Average
Payment Expectation Days |
137 |
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Industry
Quartile Analysis |
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Payment
Expectations - Lower |
41.25 |
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Payment
Expectations - Median |
90.32 |
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Payment
Expectations - Upper |
162.53 |
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Day Sales
Outstanding - Lower |
31.52 |
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Day Sales
Outstanding - Median |
75.21 |
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Day Sales
Outstanding - Upper |
158.58 |
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Company Shareholder Holding |
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Company Accounts
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Period |
|||
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Accounts End Date |
31-12-2009 |
31-12-2008 |
31-12-2007 |
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Currency |
EUR |
EUR |
EUR |
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Weeks |
52 |
52 |
52 |
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Profit & Loss |
|||
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Turnover |
69,460,908 |
65,186,350 |
63,581,283 |
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Total Operating Expenses |
68,854,580 |
64,086,137 |
62,378,325 |
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Operating Result |
606,328 |
1,100,213 |
1,202,958 |
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Total Financial Income |
687 |
290 |
502 |
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Total Financial Expenses |
478,999 |
961,513 |
1,060,998 |
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Results on Ordinary Operations Before Tax |
128,016 |
138,990 |
142,462 |
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Taxation |
8,917 |
18,044 |
17,030 |
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Results on Ordinary Operations After Tax |
119,099 |
120,946 |
125,432 |
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Extraordinary Items |
0 |
1,811 |
0 |
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Net Result |
119,099 |
122,757 |
125,432 |
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Other Information |
|||
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Dividends |
- |
- |
- |
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Director Remuneration |
97,449 |
- |
- |
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Employee Costs |
37,076 |
35,356 |
28,721 |
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- Wages & Salaries |
32,570 |
33,144 |
26,143 |
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- Employee Pension Costs |
- |
- |
- |
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- Social Security Contributions |
4,396 |
2,071 |
2,416 |
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- Other Employee Costs |
110 |
141 |
162 |
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Amortization & Depreciation |
37,127 |
36,048 |
41,572 |
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Balance Sheet |
|||
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Intangible Fixed Assets |
0 |
0 |
0 |
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Tangible Fixed Assets |
526,214 |
566,265 |
600,030 |
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- Land And Buildings |
502,481 |
528,859 |
551,545 |
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- Plant And Machinery |
15,515 |
17,784 |
19,939 |
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- Other Tangible Assets |
8,218 |
19,622 |
28,546 |
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Financial Fixed Assets |
124 |
125 |
125 |
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Total Fixed Assets |
526,338 |
566,390 |
600,155 |
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Inventories |
12,682,987 |
5,845,977 |
4,492,393 |
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- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
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- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
12,682,987 |
5,845,977 |
4,492,393 |
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Trade Debtors |
23,540,532 |
28,197,197 |
21,242,674 |
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Cash |
97,427 |
123,319 |
530,223 |
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- Miscellaneous Current Assets |
0 |
0 |
0 |
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Total Current Assets |
36,324,616 |
34,261,447 |
26,353,536 |
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Current Liabilities |
|||
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- Trade Creditors |
7,539,937 |
5,434,852 |
5,542,974 |
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- Short Term Group Loans |
0 |
0 |
0 |
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- Other Short Term Loans |
16,750,904 |
14,876,235 |
1,443,422 |
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- Miscellaneous Current Liabilities |
38,418 |
9,158 |
5,949,853 |
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Total Current Liabilities |
24,329,259 |
20,320,245 |
12,936,249 |
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Long Term Debts |
|||
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- Long Term Group Loans |
0 |
0 |
0 |
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- Other Long Term Loans |
1,418,353 |
6,163,148 |
5,886,600 |
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- Other Long Term Liabilities |
78,529 |
155,803 |
64,958 |
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Total Long Term Debts |
1,496,882 |
6,318,951 |
5,951,558 |
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Shareholders Equity |
|||
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- Issued Share Capital |
10,621,260 |
1,800,000 |
1,800,000 |
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- Share Premium Account |
0 |
0 |
0 |
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- Reserves |
403,552 |
6,388,641 |
6,265,884 |
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- Revaluation Reserve |
0 |
0 |
0 |
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Total Shareholders Equity |
11,024,812 |
8,188,641 |
8,065,884 |
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|||
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Working Capital |
11,995,357 |
13,941,202 |
13,417,287 |
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Net Worth |
11,024,812 |
8,188,641 |
8,065,884 |
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Ratio Analysis |
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Trading Performance |
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Results on Ordinary Operations Before Taxation Margin |
0.18 |
0.21 |
0.22 |
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Return On Capital Employed |
1.02 |
0.96 |
1.02 |
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Return On Total Assets Employed |
0.35 |
0.40 |
0.53 |
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Return On Net Assets Employed |
1.07 |
1 |
1.06 |
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Sales / Net Working Capital |
5.79 |
4.68 |
4.74 |
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Operating Efficiency |
|||
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Stock Turnover Ratio |
18.26 |
8.97 |
7.07 |
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Debtor Days |
123.70 |
157.89 |
121.95 |
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Creditor Days |
39.97 |
30.95 |
32.43 |
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Short Term Stability |
|||
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Current Ratio |
1.49 |
1.69 |
2.04 |
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Liquidity Ratio / Acid Ratio |
0.97 |
1.40 |
1.69 |
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Current Debt Ratio |
2.21 |
2.48 |
1.60 |
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Long Term Stability |
|||
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Gearing |
164.80 |
256.93 |
90.88 |
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Equity In Percentage |
0.30 |
0.24 |
0.30 |
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Total Debt Ratio |
1.65 |
2.57 |
0.91 |
Company Court Data
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Protested Bills |
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Drawee Name |
-- |
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Drawee Address |
-- |
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Bill Amount |
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Bill Currency |
-- |
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Maturity of Bill (month) |
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Name of Drawer |
-- |
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City of |
-- |
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NSSO Details |
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Name of Defendant |
-- |
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Legal Form of Defendant |
-- |
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Date of Summons |
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-- |
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Directors |
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Company Director |
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Full Name |
MAYURKUMAR MANUBHAI MANGUKIYA |
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Birth Date |
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Position Description |
Manager |
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Address |
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Country |
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Postal Code |
0 |
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Birth Date |
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Company Director |
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Full Name |
KISHOR KANJIBHAL KAKADIA |
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Birth Date |
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Position Description |
Manager |
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Address |
24 VAN EYCKLEI ANTWERPEN |
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Country |
-- |
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Postal Code |
2018 |
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Birth Date |
|
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Company Director |
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Full Name |
MAYUR MANGUKIYA |
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Birth Date |
|
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Position Description |
Manager |
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Address |
49 QUINTEN MATSIJSLEI ANTWERPEN |
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Country |
-- |
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Postal Code |
2018 |
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Birth Date |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.04 |
|
|
1 |
Rs.72.20 |
|
Euro |
1 |
Rs.63.40 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.