MIRA INFORM REPORT

Report Date :

20.07.2011

IDENTIFICATION DETAILS

Name :	H.V.DIAM BVBA
Registered Office :	2, Hoveniersstraat, Antwerpen
Country :	Belgium
Financials (as on) :	31.12.2009
Date of Incorporation :	26.12.2007
Com. Reg. No.:	894781943
Legal Form :	Private Limited Liability Company
Line of Business :	Wholesale of diamonds and other precious stones

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Belgium	a1	a1

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

Bottom of Form

Company Information

Company Summary
company details
Company Number	894781943
Name	H.V.DIAM BVBA
Address	2, HOVENIERSSTRAAT, ANTWERPEN
Post Code
Telephone Number
Fax Number	--
Establishment Date	26-12-2007
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	56942
Event Description	Redistribution of shares
Limit
Credit Information
Credit Limit (€)
Industry Comparison
Industry Average Credit Limit (€)	136,435
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	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	14182586
Company Name	H. VINODKUMAR & C°
Address	DREAMLAND BLD OPERA HOUSE 3RD FLOOR, 400 004 MUMBAI
Postal Code	0
Country
Share Percentage
Annual Accounts Date	--
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
Currency	EUR	EUR
Weeks	52	52
Profit & Loss
Turnover	-	-
Total Operating Expenses	-	-
Operating Result	-44,768	-16,529
Total Financial Income	91,362	37,894
Total Financial Expenses	2,580	2,142
Results on Ordinary Operations Before Tax	44,014	19,223
Taxation	13,000	5,000
Results on Ordinary Operations After Tax	31,014	14,223
Extraordinary Items	354	0
Net Result	31,368	14,223
Other Information
Dividends	-	-
Director Remuneration	-	-
Employee Costs	0	0
- Wages & Salaries	-	-
- Employee Pension Costs	-	-
- Social Security Contributions	-	-
- Other Employee Costs	-	-
Amortization & Depreciation	300	-
Balance Sheet
Intangible Fixed Assets	0	0
Tangible Fixed Assets	14,044	0
- Land And Buildings	0	0
- Plant And Machinery	7,794	0
- Other Tangible Assets	6,250	0
Financial Fixed Assets	3,311	275
Total Fixed Assets	17,355	275
Inventories	685,433	485,793
- Raw Materials & Consumables	0	0
- Work in Progress	0	0
- Finished Goods	0	0
- Other Stocks	685,433	485,793
Trade Debtors	3,458,282	950,345
Cash	329,917	2,553
- Miscellaneous Current Assets	4,200	0
Total Current Assets	4,482,331	1,440,926
Current Liabilities
- Trade Creditors	3,367,057	1,395,304
- Short Term Group Loans	0	0
- Other Short Term Loans	0	0
- Miscellaneous Current Liabilities	31,132	13,074
Total Current Liabilities	3,398,189	1,408,378
Long Term Debts
- Long Term Group Loans	0	0
- Other Long Term Loans	0	0
- Other Long Term Liabilities	0	0
Total Long Term Debts	0	0
Shareholders Equity
- Issued Share Capital	1,055,906	18,600
- Share Premium Account	0	0
- Reserves	45,591	14,223
- Revaluation Reserve	0	0
Total Shareholders Equity	1,101,497	32,823
Working Capital	1,084,142	32,548
Net Worth	1,101,497	32,823
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-	-
Return On Capital Employed	4	58.57
Return On Total Assets Employed	0.98	1.33
Return On Net Assets Employed	4.06	59.06
Sales / Net Working Capital	-	-
Operating Efficiency
Stock Turnover Ratio	-	-
Debtor Days	-	-
Creditor Days	-	-
Short Term Stability
Current Ratio	1.32	1.02
Liquidity Ratio / Acid Ratio	1.12	0.68
Current Debt Ratio	3.09	42.91
Long Term Stability
Gearing	0	0
Equity In Percentage	0.24	0.02
Total Debt Ratio	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	ASHISH RAFILAL MEHTA
Birth Date
Position Description	Manager
Address	26 ZENOBE GRAMMESTRAAT ANTWERPEN
Country	--
Postal Code	2018
Birth Date

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.59
UK Pound	1	Rs.71.62
Euro	1	Rs.62.78

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.