MIRA INFORM REPORT
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Report Date : |
23.04.2011 |
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|
IDENTIFICATION DETAILS
|
Name : |
GEMBEL EUROPEAN SALES NV |
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|
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Registered Office : |
74, Vestingstraat, 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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Date of Incorporation : |
11.03.1997 |
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Com. Reg. No.: |
460253815 |
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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 : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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) |
|
Belgium |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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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 |
460253815 |
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Name |
|
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Address |
74, VESTINGSTRAAT, ANTWERPEN |
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Post Code |
|
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Telephone Number |
032314815 |
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Fax Number |
032340539 |
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Establishment Date |
11-03-1997 |
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Company Status |
ACTIVE |
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Company Type |
Limited company |
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Number of Employees |
8 |
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Activity Description |
Wholesale of diamonds and other precious stones |
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Activity Code |
46761 |
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Liable For Vat |
yes |
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Currency |
Euro (€) |
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Latest Branch Details |
|
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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 |
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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 |
300834 |
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Event Description |
Change of date of general meeting |
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Limit |
|
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Credit Information |
|
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Purchase Limit (€) |
12,900,000 |
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Industry Comparison |
|
|
Industry Average Credit Limit (€) |
160,649 |
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Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
252.27 |
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Day Sales Outstanding |
415.44 |
|
Industry Comparison |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
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Industry Average
Day Sales Outstanding |
124.66 |
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Industry Average
Payment Expectation Days |
137 |
|
Industry
Quartile Analysis |
|
|
Payment Expectations - Lower |
41.25 |
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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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Shareholder Detail |
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Company Number |
16737052 |
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Company Name |
ARPEE GEM PTE LTD |
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Address |
10 ANSON ROAD 05-01/15 INT PLAZA, SINGAPORE 079903 |
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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 |
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 |
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Country |
|
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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 |
|
Currency |
EUR |
EUR |
EUR |
|
Weeks |
52 |
52 |
52 |
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Profit & Loss |
|||
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Turnover |
51,707,791 |
67,983,176 |
127,797,228 |
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Total Operating Expenses |
50,147,020 |
63,834,347 |
125,849,932 |
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Operating Result |
1,560,771 |
4,148,829 |
1,947,296 |
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Total Financial Income |
40,364 |
335,882 |
981,154 |
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Total Financial Expenses |
1,422,946 |
4,369,371 |
2,514,583 |
|
Results on Ordinary Operations Before Tax |
178,188 |
115,340 |
413,867 |
|
Taxation |
92,615 |
105,653 |
191,746 |
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Results on Ordinary Operations After Tax |
85,573 |
9,687 |
222,121 |
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Extraordinary Items |
0 |
1,074 |
0 |
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Net Result |
85,573 |
10,762 |
222,121 |
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Other Information |
|||
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Dividends |
- |
- |
- |
|
Director Remuneration |
442,677 |
413,374 |
326,703 |
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Employee Costs |
547,961 |
527,979 |
461,587 |
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- Wages & Salaries |
471,913 |
456,173 |
395,269 |
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- Employee Pension Costs |
- |
- |
- |
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- Social Security Contributions |
64,338 |
61,983 |
56,551 |
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- Other Employee Costs |
11,710 |
9,823 |
9,767 |
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Amortization & Depreciation |
1,860 |
1,860 |
1,860 |
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Balance Sheet |
|||
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Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
124,927 |
187,398 |
198,080 |
|
- Land And Buildings |
0 |
0 |
0 |
|
- Plant And Machinery |
48,027 |
66,736 |
36,442 |
|
- Other Tangible Assets |
76,900 |
120,662 |
161,638 |
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Financial Fixed Assets |
727,325 |
705,764 |
684,203 |
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Total Fixed Assets |
852,252 |
893,162 |
882,283 |
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Inventories |
31,866,681 |
43,986,242 |
30,928,028 |
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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 |
31,866,681 |
43,986,242 |
30,928,028 |
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Trade Debtors |
58,853,418 |
48,940,601 |
42,781,042 |
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Cash |
727,342 |
1,562,336 |
1,207,341 |
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- Miscellaneous Current Assets |
-4,826,953 |
-5,045,139 |
679,805 |
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Total Current Assets |
86,800,512 |
89,674,863 |
75,624,748 |
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Current Liabilities |
|||
|
- Trade Creditors |
34,659,071 |
36,232,451 |
25,744,583 |
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- Short Term Group Loans |
7,969,507 |
13,708,584 |
9,335,474 |
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- Other Short Term Loans |
26,650,742 |
27,807,477 |
29,949,046 |
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- Miscellaneous Current Liabilities |
-7,793,908 |
-13,574,797 |
-9,157,075 |
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Total Current Liabilities |
61,485,412 |
64,173,715 |
55,872,028 |
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Long Term Debts |
|||
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- Long Term Group Loans |
5,553,600 |
5,748,365 |
0 |
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- Other Long Term Loans |
0 |
0 |
0 |
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- Other Long Term Liabilities |
21,653 |
139,419 |
139,238 |
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Total Long Term Debts |
5,575,253 |
5,887,784 |
139,238 |
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Shareholders Equity |
|||
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- Issued Share Capital |
957,582 |
957,582 |
957,582 |
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- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
19,634,517 |
19,548,944 |
19,538,182 |
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- Revaluation Reserve |
0 |
0 |
0 |
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Total Shareholders Equity |
20,592,099 |
20,506,526 |
20,495,764 |
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|||
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Working Capital |
25,315,100 |
25,501,148 |
19,752,720 |
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Net Worth |
20,592,099 |
20,506,526 |
20,495,764 |
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Ratio Analysis |
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Trading Performance |
|||
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Results on Ordinary Operations Before Taxation Margin |
0.34 |
0.17 |
0.32 |
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Return On Capital Employed |
0.68 |
0.44 |
2.01 |
|
Return On Total Assets Employed |
0.20 |
0.13 |
0.54 |
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Return On Net Assets Employed |
0.70 |
0.45 |
2.10 |
|
Sales / Net Working Capital |
2.04 |
2.67 |
6.47 |
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Operating Efficiency |
|||
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Stock Turnover Ratio |
61.63 |
64.70 |
24.20 |
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Debtor Days |
415.44 |
262.76 |
122.19 |
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Creditor Days |
252.27 |
207.17 |
74.67 |
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Short Term Stability |
|||
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Current Ratio |
1.41 |
1.40 |
1.35 |
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Liquidity Ratio / Acid Ratio |
0.89 |
0.71 |
0.80 |
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Current Debt Ratio |
2.99 |
3.13 |
2.73 |
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Long Term Stability |
|||
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Gearing |
195.09 |
230.48 |
191.67 |
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Equity In Percentage |
0.23 |
0.23 |
0.27 |
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Total Debt Ratio |
1.95 |
2.30 |
1.92 |
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 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 |
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 |
|
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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 |
-- |
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Postal Code |
2610 |
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Birth Date |
2014-06-02 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.30 |
|
UK Pound |
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
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 |
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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.