MIRA INFORM REPORT
|
Report Date : |
28.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
BRILLIANT GEMS NV |
|
|
|
|
Registered Office : |
2, Hoveniersstraat, Antwerpen |
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|
|
|
Country : |
Belgium |
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|
|
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Financials (as on) : |
31.12.2009 |
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|
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Date of Incorporation : |
17.07.1981 |
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|
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Com. Reg. No.: |
421690771 |
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|
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Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Wholesale of other intermediate products |
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 |
|
Maximum Credit Limit : |
(€) 1,700,000 |
|
Status : |
Good |
|
Payment
Behaviour : |
Regular |
|
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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company Summary
|
company details |
|
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Company Number |
421690771 |
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Name |
|
|
Address |
2, HOVENIERSSTRAAT, ANTWERPEN |
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Post Code |
|
|
Telephone Number |
032341888 |
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Fax Number |
032253118 |
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Establishment Date |
17-07-1981 |
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Company Status |
ACTIVE |
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Company Type |
Limited company |
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Number of Employees |
5 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
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Currency |
Euro (€) |
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Latest Branch Details |
|
|
Street |
-- |
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House Number |
|
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City |
-- |
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Postal Code |
|
|
Trade Registered Number |
|
|
Trade Registered Entry Date |
-- |
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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 |
116613 |
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Event Description |
Reappointment commissioner |
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Rating and Limit |
|
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Credit Information |
|
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Credit Limit (€) |
1,700,000 |
|
Purchase Limit (€) |
17,900,000 |
|
Industry Comparison |
|
|
Industry Average Credit Limit (€) |
160,649 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
20.83 |
|
Day Sales Outstanding |
86.73 |
|
Industry Comparison |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
|
Industry Average Day Sales Outstanding |
124.66 |
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Industry Average Payment Expectation Days |
137 |
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Industry Quartile Analysis |
|
|
Payment Expectations - Lower |
41.25 |
|
Payment Expectations - Median |
90.32 |
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Payment Expectations - Upper |
162.53 |
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|
|
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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
|
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 |
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Profit & Loss |
|||
|
Turnover |
71,605,687 |
152,528,468 |
182,442,632 |
|
Total Operating Expenses |
70,752,092 |
149,631,907 |
180,512,760 |
|
Operating Result |
853,595 |
2,896,561 |
1,929,872 |
|
Total Financial Income |
3,122,666 |
10,223,956 |
5,796,406 |
|
Total Financial Expenses |
3,436,361 |
12,632,255 |
6,905,665 |
|
Results on Ordinary Operations Before Tax |
539,901 |
488,262 |
820,613 |
|
Taxation |
18,000 |
13,303 |
145,001 |
|
Results on Ordinary Operations After Tax |
521,901 |
474,959 |
675,612 |
|
Extraordinary Items |
-5,809 |
-24,979 |
-100 |
|
Net Result |
516,092 |
449,980 |
675,512 |
|
Other Information |
|||
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Dividends |
- |
- |
- |
|
Director Remuneration |
385,000 |
385,000 |
350,000 |
|
Employee Costs |
180,026 |
255,280 |
225,763 |
|
- Wages & Salaries |
147,680 |
198,076 |
184,912 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
38,410 |
50,158 |
48,191 |
|
- Other Employee Costs |
-6,064 |
7,046 |
-7,340 |
|
Amortization & Depreciation |
68,439 |
65,542 |
73,827 |
|
Balance Sheet |
|||
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Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
722,807 |
747,988 |
795,781 |
|
- Land And Buildings |
666,967 |
708,400 |
766,851 |
|
- Plant And Machinery |
34,490 |
36,230 |
10,588 |
|
- Other Tangible Assets |
21,350 |
3,358 |
18,342 |
|
Financial Fixed Assets |
0 |
0 |
0 |
|
Total Fixed Assets |
722,807 |
747,988 |
795,781 |
|
Inventories |
6,379,834 |
10,821,016 |
10,042,291 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
6,379,834 |
10,821,016 |
10,042,291 |
|
Trade Debtors |
17,015,288 |
12,689,911 |
27,014,972 |
|
Cash |
315,854 |
58,306 |
54,503 |
|
- Miscellaneous Current Assets |
14,670 |
4,136 |
3,042 |
|
Total Current Assets |
23,735,312 |
23,579,162 |
37,178,977 |
|
Current Liabilities |
|||
|
- Trade Creditors |
4,037,872 |
11,768,698 |
8,370,645 |
|
- Short Term Group Loans |
0 |
0 |
0 |
|
- Other Short Term Loans |
11,185,010 |
3,406,056 |
19,951,344 |
|
- Miscellaneous Current Liabilities |
798,297 |
714,675 |
1,270,187 |
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Total Current Liabilities |
16,021,179 |
15,889,429 |
29,592,176 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
0 |
66,796 |
151,311 |
|
- Other Long Term Liabilities |
2,090,737 |
2,155,813 |
2,081,139 |
|
Total Long Term Debts |
2,090,737 |
2,222,609 |
2,232,450 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
925,000 |
925,000 |
925,000 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
5,421,203 |
5,290,111 |
5,225,132 |
|
- Revaluation Reserve |
0 |
0 |
0 |
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Total Shareholders Equity |
6,346,203 |
6,215,111 |
6,150,132 |
|
|
|||
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Working Capital |
7,714,133 |
7,689,733 |
7,586,801 |
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Net Worth |
6,346,203 |
6,215,111 |
6,150,132 |
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Ratio Analysis |
|||
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Trading Performance |
|||
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Results on Ordinary Operations Before Taxation Margin |
0.75 |
0.32 |
0.45 |
|
Return On Capital Employed |
6.40 |
5.79 |
9.79 |
|
Return On Total Assets Employed |
2.21 |
2.01 |
2.16 |
|
Return On Net Assets Employed |
7 |
6.35 |
10.82 |
|
Sales / Net Working Capital |
9.28 |
19.84 |
24.05 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
8.91 |
7.09 |
5.50 |
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Debtor Days |
86.73 |
30.37 |
54.05 |
|
Creditor Days |
20.83 |
28.71 |
16.93 |
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Short Term Stability |
|||
|
Current Ratio |
1.48 |
1.48 |
1.26 |
|
Liquidity Ratio / Acid Ratio |
1.08 |
0.80 |
0.92 |
|
Current Debt Ratio |
2.52 |
2.56 |
4.81 |
|
Long Term Stability |
|||
|
Gearing |
176.25 |
55.88 |
326.87 |
|
Equity In Percentage |
0.26 |
0.26 |
0.16 |
|
Total Debt Ratio |
1.76 |
0.56 |
3.27 |
Company Court Data
|
Protested Bills |
|
|
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 Drawer |
-- |
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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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Labour Court |
-- |
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Directors |
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Company Director |
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Full Name |
PIYUSH MAFATLAL MODY |
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Birth Date |
|
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Position Description |
Director |
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Address |
50 DELLA FAILLELAAN ANTWERPEN |
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Country |
-- |
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Postal Code |
2020 |
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Birth Date |
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Company Director |
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Full Name |
MITESH PIYUSH MODY |
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Birth Date |
|
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Position Description |
Managing director |
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Address |
50 DELLA FAILLELAAN ANTWERPEN |
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Country |
-- |
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Postal Code |
2020 |
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Birth Date |
|
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Company Director |
|
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Full Name |
PANKAJKUMAR VITTHALB KHUNT |
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Birth Date |
|
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Position Description |
Director |
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Address |
0 SICHUAN |
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Country |
China |
|
Postal Code |
0 |
|
Birth Date |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.40 |
|
UK Pound |
1 |
Rs.73.26 |
|
Euro |
1 |
Rs.65.17 |
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 |
|
---- |
NB |
New Business |
---- |
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.