MIRA INFORM
REPORT
|
Report Date : |
20.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAURAJ DIAMONDS NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 2 Antwerpen 2018 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
10.12.1982 |
|
|
|
|
Com. Reg. No.: |
423731731 |
|
|
|
|
Legal Form : |
Limited 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 : |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 Summary |
|
|
Business Name |
SAURAJ DIAMONDS NV |
|
Business Number |
423731731 |
|
Address |
HOVENIERSSTRAAT 2 ANTWERPEN |
|
Post Code |
2018 |
|
Telephone |
032337891 |
|
Fax Number |
032314968 |
|
Date of Establishment |
10/12/1982 |
|
Number of Employees |
2 |
|
Credit Information Summary |
|
|
Company Status |
ACTIVE |
|
Purchase Limit (€) |
13,000,000 |
|
Date of Deposit at Registry |
29/07/2010 |
|
Date of Last Accounts |
31/12/2009 |
|
Turnover |
52,018,298 |
|
Results of Ordinary Operations Before Tax |
89,734 |
|
Networth |
5,214,285 |
|
Past Payments |
|
|
Payment Expectation Days |
40.07 |
|
Days Sales Outstanding |
144.60 |
|
Industry Average Payment Expectation Days |
136.03 |
|
Industry Average Day Sales Outstanding |
125.09 |
|
Court Data Summary |
|
|
bankruptcy details |
|
|
Court Action Type |
None |
|
Protested Bills |
|
|
Bill Amount |
|
|
NSSO Details |
|
|
Date of Summons |
// |
Company
Information
|
company details |
|
|
Business Number |
423731731 |
|
Name |
SAURAJ DIAMONDS NV |
|
Fax Number |
032314968 |
|
Establishment Date |
10/12/1982 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
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 |
96831 |
|
Event Description |
Reappointment |
Accounts
& Ratio
|
Period |
|||||
|
Accounts End Date |
31/12/2009 |
% |
31/12/2008 |
% |
31/12/2007 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Currency |
EUR |
- |
EUR |
- |
EUR |
|
Profit & Loss |
|||||
|
Turnover |
52,018,298 |
14.2% |
45,538,025 |
-7.0% |
48,965,785 |
|
Total Operating Expenses |
51,241,508 |
16.2% |
44,115,390 |
-7.1% |
47,475,060 |
|
Operating Result |
776,790 |
-45.4% |
1,422,635 |
-4.6% |
1,490,725 |
|
Total Financial Income |
35,970 |
90.2% |
18,908 |
55,511.8% |
34 |
|
Total Financial Expenses |
715,797 |
-46.5% |
1,337,288 |
-1.2% |
1,353,901 |
|
Results on Ordinary Operations Before Tax |
96,963 |
-7.0% |
104,255 |
-23.8% |
136,858 |
|
Taxation |
7,229 |
-31.9% |
10,622 |
-56.4% |
24,375 |
|
Results on Ordinary Operations After Tax |
89,734 |
-4.2% |
93,633 |
-16.8% |
112,483 |
|
Extraordinary Items |
1,777 |
-26.9% |
2,430 |
- |
0 |
|
Net Result |
91,511 |
-4.7% |
96,063 |
-14.6% |
112,483 |
|
Other Information |
|||||
|
Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
75,000 |
0.0% |
75,000 |
0.0% |
75,000 |
|
Employee Costs |
90,164 |
8.3% |
83,267 |
1.0% |
82,474 |
|
- Wages & Salaries |
69,355 |
7.5% |
64,529 |
1.3% |
63,690 |
|
- Social Security Contributions |
20,408 |
9.7% |
18,603 |
-0.3% |
18,652 |
|
- Other Employee Costs |
401 |
197.0% |
135 |
2.3% |
132 |
|
Amortization & Depreciation |
29,622 |
14.3% |
25,918 |
-0.3% |
25,995 |
|
Balance Sheet |
|||||
|
Accounts End Date |
31/12/2009 |
% |
31/12/2008 |
% |
31/12/2007 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
0 |
- |
0 |
- |
0 |
|
Tangible Fixed Assets |
199,275 |
4.6% |
190,526 |
-12.0% |
216,444 |
|
- Land And Buildings |
145,705 |
-4.3% |
152,280 |
-4.1% |
158,855 |
|
- Plant And Machinery |
2,259 |
-63.1% |
6,130 |
-42.1% |
10,586 |
|
- Other Tangible Assets |
51,311 |
59.8% |
32,116 |
-31.7% |
47,003 |
|
Financial Fixed Assets |
0 |
- |
0 |
-100.0% |
207,142 |
|
Total Fixed Assets |
199,275 |
4.6% |
190,526 |
-55.0% |
423,586 |
|
Inventories |
|||||
|
- Raw Materials & Consumables |
0 |
- |
0 |
- |
0 |
|
- Work in Progress |
0 |
- |
0 |
- |
0 |
|
- Finished Goods |
0 |
- |
0 |
- |
0 |
|
- Other Stocks |
6,269,334 |
106.3% |
3,038,768 |
-36.3% |
4,770,331 |
|
Trade Debtors |
20,607,485 |
-27.5% |
28,435,187 |
23.3% |
23,057,973 |
|
Cash |
2,396 |
-13.3% |
2,764 |
136.8% |
1,167 |
|
- Miscellaneous Current Assets |
7,307 |
1,749.9% |
395 |
- |
0 |
|
Total Current Assets |
26,938,586 |
-14.6% |
31,536,163 |
13.1% |
27,878,191 |
|
|
|||||
|
- Trade Creditors |
5,625,042 |
-27.9% |
7,798,089 |
-14.8% |
9,151,407 |
|
- Short Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Short Term Loans |
12,799,811 |
-15.6% |
15,157,404 |
25.8% |
12,046,595 |
|
- Miscellaneous Current Liabilities |
210,350 |
23.4% |
170,412 |
-75.1% |
685,200 |
|
Total Current Liabilities |
18,635,203 |
-19.4% |
23,125,905 |
5.7% |
21,883,202 |
|
|
|||||
|
- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Loans |
3,276,800 |
-2.9% |
3,374,000 |
148.3% |
1,358,800 |
|
- Other Long Term Liabilities |
11,573 |
-88.9% |
104,010 |
214.6% |
33,065 |
|
Total Long Term Debts |
3,288,373 |
-5.5% |
3,478,010 |
149.9% |
1,391,865 |
|
|
|||||
|
- Issued Share Capital |
4,900,000 |
0.0% |
4,900,000 |
292.1% |
1,249,755 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
314,285 |
41.1% |
222,774 |
-94.1% |
3,776,955 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders Equity |
5,214,285 |
1.8% |
5,122,774 |
1.9% |
5,026,710 |
|
|
|||||
|
Working Capital |
8,303,383 |
-1.3% |
8,410,258 |
40.3% |
5,994,989 |
|
Net Worth |
5,214,285 |
1.8% |
5,122,774 |
1.9% |
5,026,710 |
|
Ratio Analysis |
||||||
|
Trading Performance |
||||||
|
Pre-tax Profit Margin |
0.19 |
-17.4% |
0.23 |
-17.9% |
0.28 |
|
|
Return On Capital Employed |
1.14 |
-5.8% |
1.21 |
-43.2% |
2.13 |
|
|
Return On Total Assets Employed |
0.36 |
9.1% |
0.33 |
-31.3% |
0.48 |
|
|
Return On Net Assets Employed |
1.17 |
-5.6% |
1.24 |
-45.6% |
2.28 |
|
|
Sales / Net Working Capital |
6.26 |
15.7% |
5.41 |
-33.8% |
8.17 |
|
|
Operating Efficiency |
|
|||||
|
Stock Turnover Ratio |
12.05 |
80.7% |
6.67 |
-31.5% |
9.74 |
|
|
Debtor Days |
144.60 |
-36.6% |
227.92 |
32.6% |
171.88 |
|
|
Creditor Days |
40.07 |
-37.9% |
64.52 |
-8.3% |
70.36 |
|
|
Short Term Stability |
|
|||||
|
Current Ratio |
1.45 |
6.6% |
1.36 |
7.1% |
1.27 |
|
|
Liquidity Ratio / Acid Ratio |
1.11 |
-9.8% |
1.23 |
16.0% |
1.06 |
|
|
Current Debt Ratio |
3.57 |
-20.8% |
4.51 |
3.7% |
4.35 |
|
|
Long Term Stability |
|
|||||
|
Gearing |
308.32 |
-14.8% |
361.75 |
35.6% |
266.68 |
|
|
Equity In Percentage |
0.19 |
18.8% |
0.16 |
-11.1% |
0.18 |
|
|
Total Debt Ratio |
3.08 |
-14.9% |
3.62 |
35.6% |
2.67 |
|
|
Industry Comparison |
|
|
Activity Code |
46761 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Industry Average Credit Rating |
62.31 |
|
Industry Average Credit Limit (€) |
138,201 |
Payment
Expectations
|
Payment Expectations |
|
|
Payment Expectation Days |
40.07 |
|
Day Sales Outstanding |
144.60 |
|
Industry Comparison |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
|
Industry Average Day Sales Outstanding |
125.09 |
|
Industry Average Payment Expectation Days |
136.03 |
|
Industry Quartile Analysis |
|
|
Payment Expectation Days |
|
|
Payment Expectations - Lower |
41.24 |
|
Payment Expectations - Median |
89.92 |
|
Payment Expectations - Upper |
161.90 |
|
Day Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
31.52 |
|
Day Sales Outstanding - Median |
74.91 |
|
Day Sales Outstanding - Upper |
157.96 |
Shareholders
|
Holding Company |
|
|
Company Name |
SA SHIAMCO |
|
Business Number |
9294380 |
|
Share Percentage |
|
|
Annual Accounts Date |
// |
|
Subsidiary |
|
|
Company Name |
IMMO GOLD NV |
|
Business Number |
437262538 |
|
Share Percentage |
97 |
|
Annual Accounts Date |
01/12/1991 |
Court
Data
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
|
City of |
-- |
|
NSSO Details |
|
|
Business Number |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
|
-- |
|
Bankruptcy Data |
|
There is no bankruptcy data against this company. |
Directors
|
Company Director |
|
|
Full Name |
SOHIL RAJNIKANT JHAVERI |
|
Position |
Managing director |
|
Address |
119 BELGIELEI ANTWERPEN |
|
Postal Code |
2018 |
|
Country |
-- |
|
Company Director |
|
|
Full Name |
APARNA AMISH SHAH |
|
Position |
Director |
|
Address |
165 MECHELSESTEENWEG ANTWERPEN |
|
Postal Code |
2018 |
|
Country |
-- |
|
Company Director |
|
|
Full Name |
SHEHUL ZAVERI |
|
Position |
Director |
|
Address |
5 DELLA FAILLELAAN ANTWERPEN |
|
Postal Code |
2020 |
|
Country |
-- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.38 |
|
|
1 |
Rs.72.71 |
|
Euro |
1 |
Rs.61.15 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.