MIRA INFORM REPORT
|
Report Date : |
29.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
EUROSTAR DIAMOND TRADERS NV |
|
|
|
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Registered Office : |
53, Hoveniersstraat, Antwerpen 2018 |
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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 : |
22.02.1991 |
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Com. Reg. No.: |
443117279 |
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|
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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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|
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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 |
|
Insignificant |
A1 |
|
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
|
company details |
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Company Number |
443117279 |
|
Name |
EUROSTAR DIAMOND TRADERS NV |
|
Address |
53, HOVENIERSSTRAAT, ANTWERPEN |
|
Post Code |
2018 |
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Telephone Number |
032137777 |
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Fax Number |
032137799 |
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Establishment
Date |
22-02-1991 |
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Company Status |
ACTIVE |
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Company Type |
Limited company |
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Number of Employees |
45 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
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Liable For Vat |
yes |
|
Currency |
Euro (€) |
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Latest Branch Details |
|
|
Street |
SCHUPSTRAAT |
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House Number |
9 |
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City |
ANTWERPEN |
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Postal Code |
2018 |
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Trade Registered Number |
282125 |
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Trade Registered Entry Date |
01-04-1991 |
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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 |
118004 |
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Event Description |
Appointment commissioner |
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Limit |
|
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Credit Information |
|
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Purchase Limit (€) |
313,000,000 |
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Industry Comparison |
|
|
Industry Average Credit Limit (€) |
158,758 |
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Payment Expectations |
|
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Payment Expectations |
|
|
Payment Expectation Days |
21.08 |
|
Day Sales Outstanding |
48.13 |
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Industry Comparison |
|
|
Activity Code |
4676 |
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Activity Description |
Wholesale of other intermediate products |
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Industry Average Day Sales Outstanding |
125.05 |
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Industry Average
Payment Expectation Days |
136.84 |
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Industry Quartile Analysis |
|
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Payment
Expectations - Lower |
41.37 |
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Payment
Expectations - Median |
91.12 |
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Payment Expectations
- Upper |
163.40 |
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|
|
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Day Sales
Outstanding - Lower |
31.17 |
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Day Sales
Outstanding - Median |
75.05 |
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Day Sales
Outstanding - Upper |
159.82 |
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Company
Shareholder Holding |
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Shareholder Detail |
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Company Number |
15262652 |
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Company Name |
EUROSTARS DIAMONDS INTERNATIONAL SA |
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Address |
BOULEVARD PRINCE HENRI 9B, 1724 |
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Postal Code |
0 |
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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 |
0 |
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Company Name |
|
|
Address |
, |
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Postal Code |
0 |
|
Country |
|
|
Share Percentage |
|
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Annual Accounts Date |
-- |
Company Accounts
|
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 |
|
Weeks |
52 |
52 |
52 |
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Profit & Loss |
|||
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Turnover |
1,250,879,504 |
1,480,479,818 |
985,708,575 |
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Total Operating Expenses |
1,231,160,071 |
1,457,964,003 |
960,247,831 |
|
Operating Result |
19,719,433 |
22,515,815 |
25,460,744 |
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Total Financial Income |
3,946,571 |
7,495,051 |
5,654,405 |
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Total Financial Expenses |
18,293,985 |
20,109,497 |
23,106,854 |
|
Results on Ordinary Operations Before Tax |
4,132,425 |
8,698,760 |
6,969,644 |
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Taxation |
607,372 |
1,343,033 |
62,120 |
|
Results on Ordinary Operations After Tax |
3,525,053 |
7,355,727 |
6,907,524 |
|
Extraordinary Items |
2,441,120 |
0 |
12,715 |
|
Net Result |
5,966,173 |
7,355,727 |
6,920,239 |
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Other Information |
|||
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Dividends |
- |
- |
- |
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Director Remuneration |
- |
- |
- |
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Employee Costs |
3,133,493 |
3,288,678 |
3,278,423 |
|
- Wages & Salaries |
2,312,261 |
2,331,515 |
2,190,410 |
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- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
645,307 |
631,335 |
621,335 |
|
- Other Employee Costs |
175,925 |
325,828 |
466,678 |
|
Amortization & Depreciation |
313,672 |
436,573 |
387,480 |
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Balance Sheet |
|||
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Intangible Fixed Assets |
57,248 |
124,038 |
105,154 |
|
Tangible Fixed Assets |
4,420,060 |
5,392,189 |
5,250,508 |
|
- Land And Buildings |
4,071,355 |
5,138,443 |
4,975,695 |
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- Plant And Machinery |
258,884 |
187,076 |
192,278 |
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- Other Tangible Assets |
89,821 |
66,670 |
82,535 |
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Financial Fixed Assets |
74,614,797 |
82,514,434 |
39,820,319 |
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Total Fixed Assets |
79,092,105 |
88,030,661 |
45,175,981 |
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Inventories |
163,414,797 |
170,013,240 |
172,545,456 |
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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 |
163,414,797 |
170,013,240 |
172,545,456 |
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Trade Debtors |
164,936,036 |
173,105,794 |
214,765,596 |
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Cash |
664,427 |
12,125,545 |
5,907,405 |
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- Miscellaneous Current Assets |
4,332,490 |
25,053,042 |
12,581,908 |
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Total Current Assets |
384,600,499 |
425,840,914 |
458,518,653 |
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Current Liabilities |
|||
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- Trade Creditors |
71,088,213 |
141,634,952 |
130,289,449 |
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- Short Term Group Loans |
28,226,360 |
32,103,566 |
2,931,067 |
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- Other Short Term Loans |
169,182,558 |
147,791,895 |
142,048,213 |
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- Miscellaneous Current Liabilities |
-24,419,482 |
-30,687,970 |
-1,223,820 |
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Total Current Liabilities |
244,077,649 |
290,842,443 |
274,044,909 |
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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 |
8,119,669 |
8,489,786 |
10,656,623 |
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- Other Long Term Liabilities |
1,225,716 |
2,802,465 |
3,006,905 |
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Total Long Term Debts |
9,345,385 |
11,292,251 |
13,663,528 |
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Shareholders Equity |
|||
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- Issued Share Capital |
114,543,000 |
118,552,500 |
132,730,465 |
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- Share Premium Account |
0 |
0 |
0 |
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- Reserves |
95,726,570 |
92,902,398 |
82,989,133 |
|
- Revaluation Reserve |
0 |
281,983 |
266,598 |
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Total Shareholders Equity |
210,269,570 |
211,736,881 |
215,986,196 |
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|||
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Working Capital |
140,522,850 |
134,998,471 |
184,473,744 |
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Net Worth |
210,212,322 |
211,612,843 |
215,881,042 |
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Ratio Analysis |
|||
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Trading Performance |
|||
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Results on Ordinary Operations Before Taxation Margin |
0.33 |
0.59 |
0.71 |
|
Return On Capital Employed |
1.88 |
3.90 |
3.03 |
|
Return On Total Assets Employed |
0.89 |
1.69 |
1.38 |
|
Return On Net Assets Employed |
2.94 |
6.44 |
3.78 |
|
Sales / Net Working Capital |
8.90 |
10.97 |
5.34 |
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Operating Efficiency |
|||
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Stock Turnover Ratio |
13.06 |
11.48 |
17.50 |
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Debtor Days |
48.13 |
42.68 |
79.53 |
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Creditor Days |
21.08 |
35.46 |
49.52 |
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Short Term Stability |
|||
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Current Ratio |
1.58 |
1.46 |
1.67 |
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Liquidity Ratio / Acid Ratio |
0.91 |
0.88 |
1.04 |
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Current Debt Ratio |
1.16 |
1.37 |
1.27 |
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Long Term Stability |
|||
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Gearing |
97.75 |
88.97 |
72.06 |
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Equity In Percentage |
0.45 |
0.41 |
0.43 |
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Total Debt Ratio |
0.98 |
0.89 |
0.72 |
Company Court Data
|
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 |
KAUSHIK KIRTILAL MEHTA |
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Birth Date |
1949-06-29 |
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Position Description |
Managing director |
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Address |
25 EEKHOORNLAAN WILRIJK (ANTW.) |
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Country |
-- |
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Postal Code |
2610 |
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Birth Date |
2016-06-01 |
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Company Director |
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Full Name |
SACHIN DINUKUMAR MEHTA |
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Birth Date |
1964-01-09 |
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Position Description |
Chairman of the board |
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Address |
39 FAZANTENLAAN WILRIJK (ANTW.) |
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Country |
-- |
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Postal Code |
2610 |
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Birth Date |
2016-06-01 |
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Company Director |
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Full Name |
ASHISH PRAVIN KOTHARI |
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Birth Date |
|
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Position Description |
Managing director |
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Address |
7 FAZANTENLAAN WILRIJK (ANTW.) |
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Country |
-- |
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Postal Code |
2610 |
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Birth Date |
2016-06-01 |
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Company Director |
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Full Name |
KUNAL MEHTA |
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Birth Date |
|
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Position Description |
Director |
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Address |
25 EEKHOORNLAAN WILRIJK (ANTW.) |
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Country |
-- |
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Postal Code |
2610 |
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Birth Date |
2016-06-01 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.33 |
|
|
1 |
Rs.74.14 |
|
Euro |
1 |
Rs.65.78 |
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.