MIRA INFORM REPORT

Report Date :

30.04.2011

IDENTIFICATION DETAILS

Name :	RKAIN DIAMOND BVBA

Registered Office :	30, Hoveniersstraat, Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2009

Date of Incorporation :	14.11.1983

Com. Reg. No.:	424767552

Legal Form :	Private Limited Liability Company

Line of Business :	Wholesale of diamonds and other precious stones

RATING & COMMENTS

MIRA’s Rating :

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

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

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

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	6,839,867	16,779,991	-
Total Operating Expenses	6,813,009	16,910,069	-
Operating Result	26,858	-130,078	125,944
Total Financial Income	124	234,807	55,719
Total Financial Expenses	24,117	9,146	150,538
Results on Ordinary Operations Before Tax	2,866	95,583	31,125
Taxation	3,375	28,444	20,126
Results on Ordinary Operations After Tax	-509	67,139	10,999
Extraordinary Items	0	0	5,498
Net Result	-509	67,139	16,497
Other Information
Dividends	-	-	-
Director Remuneration	-	-	-
Employee Costs	34,973	30,759	31,186
- Wages & Salaries	22,057	20,536	21,224
- Employee Pension Costs	-	-	-
- Social Security Contributions	4,497	3,851	3,439
- Other Employee Costs	8,419	6,372	6,523
Amortization & Depreciation	2,120	2,416	2,165
Balance Sheet
Intangible Fixed Assets	0	0	0
Tangible Fixed Assets	7,524	9,643	9,851
- Land And Buildings	0	0	0
- Plant And Machinery	4,446	5,737	6,696
- Other Tangible Assets	3,078	3,906	3,155
Financial Fixed Assets	1,251	1,251	1,251
Total Fixed Assets	8,775	10,894	11,102
Inventories	921,705	1,717,002	1,080,133
- Raw Materials & Consumables	921,705	1,717,002	0
- Work in Progress	0	0	0
- Finished Goods	0	0	0
- Other Stocks	0	0	1,080,133
Trade Debtors	61,115	709,635	0
Cash	17,727	30,711	85,043
- Miscellaneous Current Assets	0	5,571	6,572
Total Current Assets	1,045,474	2,485,260	1,190,489
Current Liabilities
- Trade Creditors	94,656	1,536,766	309,664
- Short Term Group Loans	0	0	0
- Other Short Term Loans	0	0	0
- Miscellaneous Current Liabilities	14,359	13,646	13,322
Total Current Liabilities	109,015	1,550,412	322,986
Long Term Debts
- Long Term Group Loans	0	0	0
- Other Long Term Loans	0	0	0
- Other Long Term Liabilities	0	0	0
Total Long Term Debts	0	0	0
Shareholders Equity
- Issued Share Capital	62,000	62,000	62,000
- Share Premium Account	0	0	0
- Reserves	883,233	883,743	816,604
- Revaluation Reserve	0	0	0
Total Shareholders Equity	945,233	945,743	878,604

Working Capital	936,459	934,848	867,503
Net Worth	945,233	945,743	878,604
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	0.04	0.57	-
Return On Capital Employed	0.30	10.11	3.54
Return On Total Assets Employed	0.27	3.83	2.59
Return On Net Assets Employed	0.31	10.22	3.59
Sales / Net Working Capital	7.30	17.95	-
Operating Efficiency
Stock Turnover Ratio	13.48	10.23	-
Debtor Days	3.26	15.44	-
Creditor Days	5.07	33.17	-
Short Term Stability
Current Ratio	9.59	1.60	3.69
Liquidity Ratio / Acid Ratio	1.14	0.50	0.34
Current Debt Ratio	0.12	1.64	0.37
Long Term Stability
Gearing	0	0	0
Equity In Percentage	0.90	0.38	0.73
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	AHMED RKAIN
Birth Date
Position Description	Manager
Address	32 QUINTEN MATSIJSLEI ANTWERPEN
Country	--
Postal Code	2018
Birth Date

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%)

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.

Company Summary
company details
Company Number	424767552
Name	RKAIN DIAMOND BVBA
Address	30, HOVENIERSSTRAAT, ANTWERPEN
Post Code
Telephone Number	032335403
Fax Number	032336824
Establishment Date	14-11-1983
Company Status	ACTIVE
Company Type	Private limited liability company
Number of Employees	1
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	34992
Event Description	Reappointment commissioner
Limit
Credit Information
Purchase Limit (€)	1,000,000
Industry Comparison
Industry Average Credit Limit (€)	160,643
Payment Expectations
Payment Expectations
Payment Expectation Days	5.07
Day Sales Outstanding	3.26
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

Company Information

Company Accounts

Company Court Data

Unit