MIRA INFORM REPORT

Report Date :

26.04.2011

IDENTIFICATION DETAILS

Name :	JIADIMON BVBA
Registered Office :	37, Frans De Cortlaan, Wilrijk (Antw.) 2018
Country :	Belgium
Financials (as on) :	31.12.2009
Date of Incorporation :	05.03.2004
Com. Reg. No.:	864146175
Legal Form :	Private Limited Liability Company
Line of Business :	Wholesale of diamonds and other precious stones

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
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)
Belgium	a1	a1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Summary

Company Details
Company Number	864146175
Name	JIADIMON BVBA
Address	37, FRANS DE CORTLAAN, WILRIJK (ANTW.)
Post Code	2018
Telephone Number	032396416
Fax Number	--
Establishment Date	05-03-2004
Company Status	ACTIVE
Company Type	Private limited liability company
Number of Employees	0
Activity Description	Wholesale of diamonds and other precious stones
Activity Code	46761
Liable For Vat	yes
Currency	Euro (€)
Latest Branch Details
Street	BELGIELEI
House Number	26
City	ANTWERPEN
Postal Code	2018
Trade Registered Number	0
Trade Registered Entry Date	01-04-2004
Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	--
Latest Event
Serial Number	20916
Event Description	Transfer of registered office
Industry Comparison
Industry Average Credit Limit (€)	104,728
Payment Expectations
Payment Expectations
Payment Expectation Days
Day Sales Outstanding
Industry Comparison
Activity Code	4676
Activity Description	Wholesale of other intermediate products
Industry Average Day Sales Outstanding	121.90
Industry Average Payment Expectation Days	132.11
Industry Quartile Analysis
Payment Expectations - Lower	39.38
Payment Expectations - Median	83.46
Payment Expectations - Upper	159.39
Day Sales Outstanding - Lower	30.95
Day Sales Outstanding - Median	72.23
Day Sales Outstanding - Upper	156.50
Company Shareholder Holding

Company Accounts

Period
Accounts End Date	31-12-2009	31-12-2008	31-12-2007
Currency	EUR	EUR	EUR
Weeks	52	52	52
Profit & Loss
Turnover	-	-	-
Total Operating Expenses	-	-	-
Operating Result	32,571	42,063	30,390
Total Financial Income	206	415	335
Total Financial Expenses	2,271	1,655	9,005
Results on Ordinary Operations Before Tax	30,506	40,823	21,720
Taxation	11,716	15,091	5,146
Results on Ordinary Operations After Tax	18,790	25,732	16,574
Extraordinary Items	2,195	0	0
Net Result	20,984	25,732	16,575
Other Information
Dividends	-	-	-
Director Remuneration	-	-	-
Employee Costs	0	0	0
- Wages & Salaries	-	-	-
- Employee Pension Costs	-	-	-
- Social Security Contributions	-	-	-
- Other Employee Costs	-	-	-
Amortization & Depreciation	360	340	464
Balance Sheet
Intangible Fixed Assets	0	0	0
Tangible Fixed Assets	244	604	318
- Land And Buildings	0	0	0
- Plant And Machinery	228	437	0
- Other Tangible Assets	16	167	318
Financial Fixed Assets	3,500	3,500	3,500
Total Fixed Assets	3,744	4,104	3,818
Inventories	95,217	10,887	174,862
- Raw Materials & Consumables	0	0	0
- Work in Progress	0	0	0
- Finished Goods	0	0	0
- Other Stocks	95,217	10,887	174,862
Trade Debtors	488,205	1,919,587	1,625,308
Cash	275,270	297,605	129,246
- Miscellaneous Current Assets	1,243	1,244	4,087
Total Current Assets	1,016,308	2,380,245	2,050,855
Current Liabilities
- Trade Creditors	189,540	1,541,415	1,292,122
- Short Term Group Loans	0	0	0
- Other Short Term Loans	0	0	0
- Miscellaneous Current Liabilities	707,839	739,046	685,287
Total Current Liabilities	897,379	2,280,461	1,977,409
Long Term Debts
- Long Term Group Loans	0	0	0
- Other Long Term Loans	0	0	0
- Other Long Term Liabilities	193	2,392	1,499
Total Long Term Debts	193	2,392	1,499
Shareholders Equity
- Issued Share Capital	18,600	18,600	18,600
- Share Premium Account	0	0	0
- Reserves	103,881	82,897	57,165
- Revaluation Reserve	0	0	0
Total Shareholders Equity	122,481	101,497	75,765
Working Capital	118,929	99,784	73,446
Net Worth	122,481	101,497	75,765
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-	-	-
Return On Capital Employed	24.87	39.29	28.11
Return On Total Assets Employed	2.99	1.71	1.06
Return On Net Assets Employed	25.65	40.91	29.57
Sales / Net Working Capital	-	-	-
Operating Efficiency
Stock Turnover Ratio	-	-	-
Debtor Days	-	-	-
Creditor Days	-	-	-
Short Term Stability
Current Ratio	1.13	1.04	1.04
Liquidity Ratio / Acid Ratio	1.03	1.04	0.95
Current Debt Ratio	7.33	22.47	26.10
Long Term Stability
Gearing	0	0	0
Equity In Percentage	0.12	0.04	0.04
Total Debt Ratio	0	0	0

Company Court Data

Protested Bills
Drawee Name	--
Drawee Address	--
Bill Amount
Bill Currency	--
Maturity of Bill (month)
Name of Drawer	--
City of Drawer	--
NSSO Details
Name of Defendant	--
Legal Form of Defendant	--
Date of Summons
Labour Court	--
Directors
Company Director
Full Name	BIRJU KIRIT SHAH
Birth Date
Position Description	Manager
Address	26 BELGIELEI ANTWERPEN
Country	India
Postal Code	2018
Birth Date

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.45
UK Pound	1	Rs.73.35
Euro	1	Rs.64.78

RATING EXPLANATIONS

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.