MIRA INFORM REPORT
|
Report Date : |
30.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
IGC GROUP NV |
|
|
|
|
Registered Office : |
2, Hoveniersstraat, Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
18.10.1978 |
|
|
|
|
Com. Reg. No.: |
418800864 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
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 |
|
|
|
|
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
Information
|
Company Summary |
|
|
company details |
|
|
Company Number |
418800864 |
|
Name |
IGC GROUP NV |
|
Address |
2, HOVENIERSSTRAAT, ANTWERPEN |
|
Post Code |
|
|
Telephone Number |
032034567 |
|
Fax Number |
032311634 |
|
Establishment Date |
18-10-1978 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Number of Employees |
33 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
-- |
|
House Number |
|
|
City |
-- |
|
Postal Code |
|
|
Trade Registered Number |
|
|
Trade Registered Entry Date |
-- |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
Latest Event |
|
|
Serial Number |
116575 |
|
Event Description |
Reappointment |
|
Limit |
|
|
Credit Information |
|
|
Purchase Limit (€) |
20,500,000 |
|
Industry Comparison |
|
|
Industry Average Credit Limit (€) |
160,643 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
142.51 |
|
Day Sales Outstanding |
101.43 |
|
Industry Comparison |
|
|
Activity Code |
4676 |
|
Activity
Description |
Wholesale of other intermediate products |
|
Industry Average
Day Sales Outstanding |
124.66 |
|
Industry Average
Payment Expectation Days |
137 |
|
Industry Quartile Analysis |
|
|
Payment
Expectations - Lower |
41.25 |
|
Payment
Expectations - Median |
90.32 |
|
Payment
Expectations - Upper |
162.53 |
|
|
|
|
Day Sales
Outstanding - Lower |
31.52 |
|
Day Sales
Outstanding - Median |
75.21 |
|
Day Sales
Outstanding - Upper |
158.58 |
|
Company
Shareholder Holding |
|
|
Shareholder Detail |
|
|
Company Number |
15641051 |
|
Company Name |
ENOGEMS SA |
|
Address |
BOULEVARD DU PRINCE HENRI 9B, LUXEMBOURG |
|
Postal Code |
1724 |
|
Country |
|
|
Share Percentage |
99.99 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
15641249 |
|
Company Name |
IGC HONG KONG LTD |
|
Address |
DUDDELL STREET 11, HONG KONG |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
44 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
15641150 |
|
Company Name |
IGC NEW YORK INC |
|
Address |
FIFTH AVENUE 600, NEW YORK |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
20 |
|
Annual Accounts Date |
01-12-2009 |
|
Shareholder Detail |
|
|
Company Number |
0 |
|
Company Name |
|
|
Address |
, |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
|
|
Annual Accounts Date |
-- |
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 |
81,818,956 |
147,820,267 |
146,723,378 |
|
Total Operating Expenses |
81,271,990 |
145,948,989 |
144,887,837 |
|
Operating Result |
546,966 |
1,871,278 |
1,835,541 |
|
Total Financial Income |
1,456,873 |
1,429,186 |
1,414,621 |
|
Total Financial Expenses |
806,277 |
1,680,002 |
1,736,439 |
|
Results on Ordinary Operations Before Tax |
342,668 |
736,886 |
840,434 |
|
Taxation |
-6,243 |
-8,898 |
141,458 |
|
Results on Ordinary Operations After Tax |
348,911 |
745,784 |
698,976 |
|
Extraordinary Items |
11,157 |
13,589 |
23,694 |
|
Net Result |
360,068 |
759,374 |
722,670 |
|
Other Information |
|||
|
Dividends |
- |
- |
- |
|
Director Remuneration |
424,000 |
424,000 |
438,400 |
|
Employee Costs |
1,556,841 |
1,661,758 |
1,663,259 |
|
- Wages & Salaries |
1,175,426 |
1,258,286 |
1,309,794 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
342,627 |
327,837 |
330,473 |
|
- Other Employee Costs |
38,788 |
75,635 |
22,992 |
|
Amortization & Depreciation |
374,711 |
383,271 |
346,871 |
|
Balance Sheet |
|||
|
Intangible Fixed Assets |
116,993 |
152,347 |
119,109 |
|
Tangible Fixed Assets |
3,274,756 |
3,587,102 |
3,748,638 |
|
- Land And Buildings |
341,608 |
359,241 |
376,874 |
|
- Plant And Machinery |
54,154 |
64,749 |
38,304 |
|
- Other Tangible Assets |
2,878,994 |
3,163,112 |
3,333,460 |
|
Financial Fixed Assets |
3,903,231 |
3,987,235 |
1,112,795 |
|
Total Fixed Assets |
7,294,980 |
7,726,684 |
4,980,542 |
|
Inventories |
32,619,846 |
39,643,295 |
32,264,113 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
32,619,846 |
39,643,295 |
32,264,113 |
|
Trade Debtors |
22,735,684 |
34,769,808 |
30,760,088 |
|
Cash |
12,433,350 |
2,212,982 |
1,432,304 |
|
- Miscellaneous Current Assets |
603,063 |
719,560 |
112,814 |
|
Total Current Assets |
69,260,405 |
77,718,344 |
67,583,107 |
|
Current Liabilities |
|||
|
- Trade Creditors |
31,731,633 |
33,908,165 |
22,313,357 |
|
- Short Term Group Loans |
32,115,813 |
37,219,923 |
24,232,779 |
|
- Other Short Term Loans |
13,359,280 |
20,174,515 |
19,987,024 |
|
- Miscellaneous Current Liabilities |
-32,155,193 |
-37,208,176 |
-24,175,289 |
|
Total Current Liabilities |
45,051,533 |
54,094,427 |
42,357,871 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
8,347,946 |
8,347,946 |
8,347,946 |
|
- Other Long Term Loans |
1,423,301 |
1,668,395 |
1,770,997 |
|
- Other Long Term Liabilities |
1,818,300 |
1,780,023 |
1,291,971 |
|
Total Long Term Debts |
11,589,547 |
11,796,364 |
11,410,914 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
11,279,155 |
11,279,155 |
11,279,155 |
|
- Share Premium Account |
40,977 |
40,977 |
40,977 |
|
- Reserves |
8,594,173 |
8,234,105 |
7,474,732 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
19,914,305 |
19,554,237 |
18,794,864 |
|
|
|||
|
Working Capital |
24,208,872 |
23,623,917 |
25,225,236 |
|
Net Worth |
19,797,312 |
19,401,890 |
18,675,755 |
|
Ratio Analysis |
|||
|
Trading Performance |
|||
|
Results on Ordinary Operations Before Taxation Margin |
0.42 |
0.50 |
0.57 |
|
Return On Capital Employed |
1.09 |
2.35 |
2.78 |
|
Return On Total Assets Employed |
0.45 |
0.86 |
1.16 |
|
Return On Net Assets Employed |
1.42 |
3.12 |
3.33 |
|
Sales / Net Working Capital |
3.38 |
6.26 |
5.82 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
39.87 |
26.82 |
21.99 |
|
Debtor Days |
101.43 |
85.85 |
76.52 |
|
Creditor Days |
142.51 |
84.80 |
56.21 |
|
Short Term Stability |
|||
|
Current Ratio |
1.54 |
1.44 |
1.60 |
|
Liquidity Ratio / Acid Ratio |
0.81 |
0.70 |
0.83 |
|
Current Debt Ratio |
2.26 |
2.77 |
2.25 |
|
Long Term Stability |
|||
|
Gearing |
277.42 |
344.74 |
289.11 |
|
Equity In Percentage |
0.26 |
0.23 |
0.26 |
|
Total Debt Ratio |
2.77 |
3.45 |
2.89 |
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 |
LUC LUCIEN CLAES |
|
BirthDate |
1957-03-23 |
|
Position Description |
Managing director |
|
Address |
41 ALFREDLEI BRASSCHAAT |
|
Country |
-- |
|
Postal Code |
2930 |
|
Birth Date |
2015-01-01 |
|
Company Director |
|
|
Full Name |
JACQUES CLAES |
|
Birth Date |
1955-06-28 |
|
Position Description |
Managing director |
|
Address |
30 PRINSSTRAAT ANTWERPEN |
|
Country |
-- |
|
Postal Code |
2000 |
|
Birth Date |
2015-01-01 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
UK Pound |
1 |
Rs.73.88 |
|
Euro |
1 |
Rs.65.83 |
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.