MIRA INFORM REPORT

Report Date :

24.02.2011

IDENTIFICATION DETAILS

Name :	JEWEL GOLDI BVBA
Registered Office :	30, Hoveniersstraat, Antwerpen
Country :	Belgium
Financials (as on) :	31.12.2009
Date of Incorporation :	13.11.2003
Com. Reg. No.:	861938733
Legal Form :	Private Limited Liability Company
Line of Business :	Wholesaler 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
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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
Belgium	a1	a1

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

Company Summary

company details
Company Number	861938733
Name	JEWEL GOLDI BVBA
Address	30, HOVENIERSSTRAAT, ANTWERPEN
Post Code
Telephone Number	032273266
Fax Number	032336058
Establishment Date	13-11-2003
Company Status	ACTIVE
Company Type	Private limited liability company
Number of Employees	0
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	164039
Event Description	Appointment
Limit
Credit Information
Purchase Limit (€)
Industry Comparison
Industry Average Credit Limit (€)	158,440
Payment Expectations
Payment Expectations
Payment Expectation Days
Day Sales Outstanding
Industry Comparison
Activity Code	4676
Activity Description	Wholesale of other intermediate products
Industry Average Day Sales Outstanding	125.10
Industry Average Payment Expectation Days	136.82
Industry Quartile Analysis
Payment Expectations - Lower	41.37
Payment Expectations - Median	90.61
Payment Expectations - Upper	163.40
Day Sales Outstanding - Lower	31.17
Day Sales Outstanding - Median	75.05
Day Sales Outstanding - Upper	159.82
Company Shareholder Holding

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	-	-	-
Total Operating Expenses	-	-	-
Operating Result	86,614	122,533	14,604
Total Financial Income	1	234	21
Total Financial Expenses	44,724	67,985	4,059
Results on Ordinary Operations Before Tax	41,891	54,783	10,566
Taxation	6,315	18,516	11,000
Results on Ordinary Operations After Tax	35,576	36,267	-434
Extraordinary Items	0	0	0
Net Result	35,576	36,267	-434
Other Information
Dividends	-	-	-
Director Remuneration	-	-	-
Employee Costs	0	0	0
- Wages & Salaries	-	-	-
- Employee Pension Costs	-	-	-
- Social Security Contributions	-	-	-
- Other Employee Costs	-	-	-
Amortization & Depreciation	1,000	1,000	886
Balance Sheet
Intangible Fixed Assets	0	0	0
Tangible Fixed Assets	192	1,192	2,192
- Land And Buildings	0	0	0
- Plant And Machinery	192	1,192	2,192
- Other Tangible Assets	0	0	0
Financial Fixed Assets	0	0	0
Total Fixed Assets	192	1,192	2,192
Inventories	534,413	620,770	223,695
- Raw Materials & Consumables	0	0	0
- Work in Progress	0	0	0
- Finished Goods	0	0	0
- Other Stocks	534,413	620,770	223,695
Trade Debtors	3,248,093	2,585,161	579,578
Cash	146,682	14,935	315,983
- Miscellaneous Current Assets	-1	1	0
Total Current Assets	3,931,515	3,223,370	1,119,649
Current Liabilities
- Trade Creditors	2,369,843	780,211	427,434
- Short Term Group Loans	0	0	0
- Other Short Term Loans	772,692	1,673,788	0
- Miscellaneous Current Liabilities	701,410	719,062	679,301
Total Current Liabilities	3,843,945	3,173,061	1,106,735
Long Term Debts
- Long Term Group Loans	0	0	0
- Other Long Term Loans	0	0	0
- Other Long Term Liabilities	814	129	0
Total Long Term Debts	814	129	0
Shareholders Equity
- Issued Share Capital	18,600	18,600	18,600
- Share Premium Account	0	0	0
- Reserves	68,347	32,772	-3,495
- Revaluation Reserve	0	0	0
Total Shareholders Equity	86,947	51,372	15,105
Working Capital	87,570	50,309	12,914
Net Worth	86,947	51,372	15,105
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-	-	-
Return On Capital Employed	47.73	106.37	69.95
Return On Total Assets Employed	1.07	1.70	0.94
Return On Net Assets Employed	47.84	108.89	81.82
Sales / Net Working Capital	-	-	-
Operating Efficiency
Stock Turnover Ratio	-	-	-
Debtor Days	-	-	-
Creditor Days	-	-	-
Short Term Stability
Current Ratio	1.02	1.02	1.01
Liquidity Ratio / Acid Ratio	0.88	0.82	0.81
Current Debt Ratio	44.21	61.77	73.27
Long Term Stability
Gearing	888.69	3258.17	0
Equity In Percentage	0.02	0.02	0.01
Total Debt Ratio	8.89	32.58	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	GIRISHKUMAR PATEL
Birth Date
Position Description	Manager
Address	22 QUINTEN MATSIJSLEI ANTWERPEN
Country	--
Postal Code	2018
Birth Date
Company Director
Full Name	D-GOLDI BVBA
Birth Date
Position Description	Manager
Address	30 HOVENIERSSTRAAT ANTWERPEN
Country	--
Postal Code	2018
Birth Date

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.20
UK Pound	1	Rs.73.17
Euro	1	Rs.61.88

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

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.