MIRA INFORM
REPORT
|
Report Date : |
13.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ADIAM NV |
|
|
|
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Registered Office : |
30, Hoveniersstraat, Antwerpen 2018 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
01.07.1986 |
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Com. Reg. No.: |
429050202 |
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|
Legal Form : |
Limited Company |
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|
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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 |
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Payment
Behaviour : |
Unknown |
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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 – March 31st, 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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Company Summary
|
company details |
|
|
Company Number |
429050202 |
|
Name |
ADIAM NV |
|
Address |
30, HOVENIERSSTRAAT, ANTWERPEN |
|
Post Code |
2018 |
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Telephone Number |
032260389 |
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Fax Number |
032261092 |
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Establishment Date |
01-07-1986 |
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Company Status |
ACTIVE |
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Company Type |
Limited company |
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Number of Employees |
2 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
SCHUPSTRAAT |
|
House Number |
17 |
|
City |
ANTWERPEN |
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Postal Code |
2018 |
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Trade Registered Number |
251927 |
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Trade Registered
Entry Date |
01-07-1986 |
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Contractor Details |
|
|
Registration Number |
-- |
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Contractor Description |
-- |
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Striking Off Date |
-- |
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Latest Event |
|
|
Serial Number |
91650 |
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Event Description |
Reappointment commissioner |
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Industry Comparison |
|
|
Industry Average
Credit Limit (€) |
125,316 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
71.03 |
|
Day Sales Outstanding |
193.59 |
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Industry Comparison |
|
|
Activity Code |
4676 |
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Activity Description |
Wholesale of other intermediate products |
|
Industry Average Day Sales Outstanding |
123.77 |
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Industry Average Payment Expectation Days |
134.05 |
|
Industry Quartile Analysis |
|
|
Payment
Expectations - Lower |
40.44 |
|
Payment
Expectations - Median |
88.67 |
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Payment
Expectations - Upper |
161.36 |
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|
|
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Day Sales
Outstanding - Lower |
31.05 |
|
Day Sales
Outstanding - Median |
73.85 |
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Day Sales
Outstanding - Upper |
156.45 |
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Company
Shareholder Holding |
|
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 |
|||
|
Turnover |
31,262,028 |
136,822,327 |
140,832,332 |
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Total Operating Expenses |
31,473,041 |
134,096,854 |
139,851,132 |
|
Operating Result |
-211,013 |
2,725,473 |
981,200 |
|
Total Financial Income |
3,181,410 |
5,717,272 |
5,503,332 |
|
Total Financial Expenses |
2,826,297 |
8,279,026 |
6,207,234 |
|
Results on Ordinary Operations Before Tax |
144,100 |
163,719 |
277,299 |
|
Taxation |
-1 |
-37,170 |
15,006 |
|
Results on Ordinary Operations After Tax |
144,101 |
200,889 |
262,293 |
|
Extraordinary Items |
-1,385 |
-815 |
-805 |
|
Net Result |
142,715 |
200,074 |
261,488 |
|
Other Information |
|||
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Dividends |
- |
- |
- |
|
Director Remuneration |
- |
50,000 |
140,000 |
|
Employee Costs |
58,905 |
54,657 |
57,496 |
|
- Wages & Salaries |
46,948 |
44,468 |
45,536 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
10,106 |
8,787 |
9,036 |
|
- Other Employee Costs |
1,851 |
1,402 |
2,924 |
|
Amortization & Depreciation |
49,364 |
44,368 |
41,576 |
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Balance Sheet |
|||
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Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
276,232 |
344,868 |
316,663 |
|
- Land And Buildings |
141,767 |
150,517 |
159,267 |
|
- Plant And Machinery |
35,873 |
42,937 |
5,313 |
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- Other Tangible Assets |
98,592 |
151,414 |
152,083 |
|
Financial Fixed Assets |
1,014 |
1,014 |
1,014 |
|
Total Fixed Assets |
277,246 |
345,882 |
317,677 |
|
Inventories |
12,894,252 |
19,884,719 |
14,175,271 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
12,894,252 |
19,884,719 |
14,175,271 |
|
Trade Debtors |
16,580,939 |
25,254,866 |
16,993,667 |
|
Cash |
492,785 |
78,484 |
205,574 |
|
- Miscellaneous Current Assets |
12,503 |
15,138 |
60,261 |
|
Total Current Assets |
30,415,448 |
45,592,425 |
31,778,517 |
|
Current Liabilities |
|||
|
- Trade Creditors |
6,124,358 |
6,637,027 |
1,837,157 |
|
- Short Term Group Loans |
0 |
0 |
0 |
|
- Other Short Term Loans |
5,887,578 |
20,305,600 |
11,465,996 |
|
- Miscellaneous Current Liabilities |
-143,867 |
-113,591 |
121,386 |
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Total Current Liabilities |
11,868,069 |
26,829,036 |
13,424,539 |
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Long Term Debts |
|||
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- Long Term Group Loans |
0 |
0 |
0 |
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- Other Long Term Loans |
57,543 |
209,188 |
340,966 |
|
- Other Long Term Liabilities |
7,825,783 |
8,101,499 |
7,682,181 |
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Total Long Term Debts |
7,883,326 |
8,310,687 |
8,023,147 |
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Shareholders Equity |
|||
|
- Issued Share Capital |
3,689,450 |
3,689,450 |
3,689,450 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
7,251,849 |
7,109,134 |
6,959,060 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
10,941,299 |
10,798,584 |
10,648,510 |
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|||
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Working Capital |
18,547,379 |
18,763,389 |
18,353,978 |
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Net Worth |
10,941,299 |
10,798,584 |
10,648,510 |
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Ratio Analysis |
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Trading Performance |
|||
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Results on Ordinary Operations Before Taxation Margin |
0.46 |
0.12 |
0.20 |
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Return On Capital Employed |
0.77 |
0.86 |
1.49 |
|
Return On Total Assets Employed |
0.47 |
0.36 |
0.86 |
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Return On Net Assets Employed |
0.78 |
0.87 |
1.51 |
|
Sales / Net Working Capital |
1.69 |
7.29 |
7.67 |
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Operating Efficiency |
|||
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Stock Turnover Ratio |
41.25 |
14.53 |
10.07 |
|
Debtor Days |
193.59 |
67.37 |
44.04 |
|
Creditor Days |
71.03 |
18.07 |
4.79 |
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Short Term Stability |
|||
|
Current Ratio |
2.56 |
1.70 |
2.37 |
|
Liquidity Ratio / Acid Ratio |
1.48 |
0.96 |
1.31 |
|
Current Debt Ratio |
1.08 |
2.48 |
1.26 |
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Long Term Stability |
|||
|
Gearing |
54.34 |
189.98 |
110.88 |
|
Equity In Percentage |
0.36 |
0.24 |
0.33 |
|
Total Debt Ratio |
0.54 |
1.90 |
1.11 |
Company Court Data
|
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 |
-- |
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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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|
-- |
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Directors |
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Company Director |
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Full Name |
SANJIV SEVANTIBHAL MEHTA |
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Birth Date |
|
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Position Description |
Managing director |
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Address |
24 FERDINAND VERBIESTLAAN EDEGEM |
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Country |
-- |
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Postal Code |
2650 |
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Birth Date |
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Company Director |
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Full Name |
AMIT JAGDISH MEHTA |
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Birth Date |
|
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Position Description |
Chairman of the board |
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Address |
24 ALBRECHT RODENBACHSTRAAT |
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Country |
-- |
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Postal Code |
2540 |
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Birth Date |
|
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Company Director |
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Full Name |
RITESH DINESH MEHTA |
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Birth Date |
|
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Position Description |
Director |
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Address |
46 RIDGE ROAD 400006 MUMBAI |
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Country |
|
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Postal Code |
0 |
|
Birth Date |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
|
1 |
Rs.72.93 |
|
Euro |
1 |
Rs.64.72 |
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.