MIRA
INFORM REPORT
|
Report Date : |
26.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
KAY DIAMONDS NV |
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|
|
|
Registered Office : |
74, Vestingstraat, Antwerpen |
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Country : |
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|
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
29.07.1998 |
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Com. Reg. No.: |
463947634 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of diamonds and other precious stones |
RATING & COMMENTS
|
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 |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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 |
463947634 |
|
Name |
KAY DIAMONDS NV |
|
Address |
74, VESTINGSTRAAT, ANTWERPEN |
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Post Code |
|
|
Telephone Number |
032314815 |
|
Fax Number |
032340539 |
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Establishment Date |
29-07-1998 |
|
Company Status |
ACTIVE |
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Company Type |
Limited company |
|
Number of Employees |
6 |
|
Activity
Description |
Wholesale of diamonds and other precious
stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
-- |
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House Number |
|
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City |
-- |
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Postal Code |
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|
Trade Registered Number |
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|
Trade Registered Entry Date |
-- |
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Contractor
Details |
|
|
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 |
153594 |
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Event Description |
Reappointment commissioner |
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Limit |
|
|
Credit Information |
|
|
Purchase Limit (€) |
5,600,000 |
|
Industry Comparison |
|
|
Payment
Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
194.82 |
|
Day Sales Outstanding |
231.58 |
|
Industry Comparison |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
|
Industry Average Day Sales Outstanding |
120.39 |
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Industry Average
Payment Expectation Days |
130.93 |
|
Industry Quartile Analysis |
|
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Payment
Expectations - Lower |
39.43 |
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Payment
Expectations - Median |
83.26 |
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Payment
Expectations - Upper |
156.46 |
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|
|
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Day Sales
Outstanding - Lower |
31.05 |
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Day Sales
Outstanding - Median |
71.80 |
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Day Sales
Outstanding - Upper |
154.09 |
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Company
Shareholder Holding |
|
|
Shareholder Detail |
|
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Company Number |
12855864 |
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Company Name |
ARPEE GEM PTE LTD |
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Address |
|
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Postal Code |
79903 |
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Country |
|
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Share Percentage |
|
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Annual Accounts Date |
-- |
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Shareholder Detail |
|
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Company Number |
429761171 |
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Company Name |
MENAMANI INVESTMENT CORPORATION NV |
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Address |
VESTINGSTRAAT 74, ANTWERPEN |
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Postal Code |
2018 |
|
Country |
|
|
Share Percentage |
52.38 |
|
Annual Accounts Date |
01-12-2008 |
Company Accounts
|
Period |
|||
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Accounts End Date |
31-12-2009 |
31-12-2008 |
31-12-2007 |
|
Currency |
EUR |
EUR |
EUR |
|
Weeks |
52 |
52 |
52 |
|
Profit &
Loss |
|||
|
Turnover |
25,062,191 |
30,685,074 |
34,404,615 |
|
Total Operating Expenses |
24,776,458 |
29,255,072 |
34,793,268 |
|
Operating Result |
285,733 |
1,430,002 |
-388,653 |
|
Total Financial Income |
242,864 |
26,208 |
1,277,811 |
|
Total Financial Expenses |
436,502 |
1,393,517 |
770,070 |
|
Results on Ordinary Operations Before Tax |
92,095 |
62,693 |
119,089 |
|
Taxation |
63,714 |
41,928 |
72,383 |
|
Results on Ordinary Operations After Tax |
28,381 |
20,765 |
46,706 |
|
Extraordinary Items |
-67 |
0 |
0 |
|
Net Result |
28,315 |
20,765 |
46,706 |
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Other Information |
|||
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Dividends |
- |
- |
- |
|
Director Remuneration |
204,660 |
204,665 |
324,236 |
|
Employee Costs |
435,246 |
420,838 |
433,347 |
|
- Wages & Salaries |
361,349 |
348,050 |
373,524 |
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- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
61,059 |
56,969 |
50,867 |
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- Other Employee Costs |
12,838 |
15,819 |
8,956 |
|
Amortization & Depreciation |
1,070 |
1,070 |
1,070 |
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Balance Sheet |
|||
|
Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
57,568 |
102,562 |
145,729 |
|
- Land And Buildings |
0 |
0 |
0 |
|
- Plant And Machinery |
20,666 |
30,409 |
38,326 |
|
- Other Tangible Assets |
36,902 |
72,153 |
107,403 |
|
Financial Fixed Assets |
2,003,501 |
2,004,571 |
2,005,765 |
|
Total Fixed Assets |
2,061,069 |
2,107,133 |
2,151,494 |
|
Inventories |
13,082,307 |
13,836,987 |
14,555,098 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
13,082,307 |
13,836,987 |
14,555,098 |
|
Trade Debtors |
15,900,790 |
17,726,307 |
13,103,034 |
|
Cash |
23,896 |
38,032 |
35,403 |
|
- Miscellaneous Current Assets |
-2,728,080 |
-2,837,635 |
395,820 |
|
Total Current Assets |
26,533,627 |
28,966,405 |
28,182,483 |
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Current Liabilities |
|||
|
- Trade Creditors |
13,224,354 |
14,377,631 |
16,857,987 |
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- Short Term Group Loans |
6,772,295 |
6,329,216 |
4,716,189 |
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- Other Short Term Loans |
6,815,821 |
8,073,251 |
8,062,076 |
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- Miscellaneous Current Liabilities |
-6,573,881 |
-6,165,414 |
-4,516,207 |
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Total Current Liabilities |
20,238,589 |
22,614,684 |
25,120,045 |
|
Long Term Debts |
|||
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- Long Term Group Loans |
3,123,900 |
3,233,455 |
0 |
|
- Other Long Term Loans |
0 |
0 |
0 |
|
- Other Long Term Liabilities |
13,449 |
34,955 |
44,254 |
|
Total Long Term Debts |
3,137,349 |
3,268,410 |
44,254 |
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Shareholders Equity |
|||
|
- Issued Share Capital |
350,000 |
350,000 |
350,000 |
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- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
4,868,758 |
4,840,443 |
4,819,678 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
5,218,758 |
5,190,443 |
5,169,678 |
|
|
|||
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Working Capital |
6,295,038 |
6,351,721 |
3,062,438 |
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Net Worth |
5,218,758 |
5,190,443 |
5,169,678 |
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Ratio Analysis |
|||
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Trading Performance |
|||
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Results on Ordinary Operations Before Taxation Margin |
0.37 |
0.20 |
0.35 |
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Return On Capital Employed |
1.10 |
0.74 |
2.28 |
|
Return On Total Assets Employed |
0.32 |
0.20 |
0.39 |
|
Return On Net Assets Employed |
1.46 |
0.99 |
3.89 |
|
Sales / Net Working Capital |
3.98 |
4.83 |
11.23 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
52.20 |
45.09 |
42.31 |
|
Debtor Days |
231.58 |
210.86 |
139.01 |
|
Creditor Days |
194.82 |
179.38 |
176.85 |
|
Short Term Stability |
|||
|
Current Ratio |
1.31 |
1.28 |
1.12 |
|
Liquidity Ratio / Acid Ratio |
0.66 |
0.67 |
0.54 |
|
Current Debt Ratio |
3.88 |
4.36 |
4.86 |
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Long Term Stability |
|||
|
Gearing |
320.23 |
339.78 |
247.18 |
|
Equity In Percentage |
0.18 |
0.17 |
0.17 |
|
Total Debt Ratio |
3.20 |
3.40 |
2.47 |
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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|
-- |
Directors
|
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Company Director |
|
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Full Name |
RASHMI KIRTILAL MEHTA |
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Birth Date |
1943-09-04 |
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Position Description |
Managing director |
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Address |
27 BERKENLAAN WILRIJK (ANTW.) |
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Country |
-- |
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Postal Code |
2610 |
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Birth Date |
2014-06-02 |
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Company Director |
|
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Full Name |
CHETAN MEHTA |
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Birth Date |
1965-02-06 |
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Position Description |
Managing director |
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Address |
33 BERKENLAAN WILRIJK (ANTW.) |
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Country |
-- |
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Postal Code |
2610 |
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Birth Date |
2014-06-02 |
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Company Director |
|
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Full Name |
BHAVIN MEHTA |
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Birth Date |
1971-09-27 |
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Position Description |
Managing director |
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Address |
27 BERKENLAAN WILRIJK (ANTW.) |
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Country |
-- |
|
Postal Code |
2610 |
|
Birth Date |
2014-06-02 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.45 |
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.