MIRA INFORM
REPORT
|
Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
KARP IMPEX NV |
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|
|
|
Registered Office : |
30, Hoveniersstraat, Antwerpen, Zip Code 2018 |
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|
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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 : |
22.06.1988 |
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Com. Reg. No.: |
434647003 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesale of diamonds and other precious stones |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
3,150,000 (€) |
|
Status : |
Good |
|
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 – 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 |
|
High |
B2 |
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Very High |
C1 |
|
Restricted |
C2 |
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Off-credit |
D |
Company Summary
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 |
|
Profit & Loss |
|||
|
Turnover |
98,651,214 |
93,584,024 |
69,314,395 |
|
Total Operating Expenses |
97,826,602 |
91,068,046 |
69,094,973 |
|
Operating Result |
824,612 |
2,515,978 |
219,422 |
|
Total Financial Income |
233,568 |
375,269 |
4,376,968 |
|
Total Financial Expenses |
926,131 |
2,760,865 |
4,735,009 |
|
Results on Ordinary Operations Before Tax |
132,049 |
130,382 |
-138,620 |
|
Taxation |
40,178 |
38,512 |
-23,499 |
|
Results on Ordinary Operations After Tax |
91,871 |
91,870 |
-115,121 |
|
Extraordinary Items |
3,406 |
257 |
-1,269 |
|
Net Result |
95,277 |
92,126 |
-116,390 |
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Other Information |
|||
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Dividends |
- |
- |
- |
|
Director Remuneration |
15,000 |
74,494 |
74,494 |
|
Employee Costs |
58,635 |
71,996 |
155,251 |
|
- Wages & Salaries |
47,251 |
58,655 |
118,949 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
9,554 |
21,089 |
27,804 |
|
- Other Employee Costs |
1,830 |
-7,748 |
8,498 |
|
Amortization & Depreciation |
60,217 |
63,026 |
43,831 |
|
Balance Sheet |
|||
|
Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
309,894 |
371,168 |
359,373 |
|
- Land And Buildings |
222,754 |
251,328 |
279,901 |
|
- Plant And Machinery |
4,495 |
6,647 |
9,901 |
|
- Other Tangible Assets |
82,645 |
113,193 |
69,571 |
|
Financial Fixed Assets |
5,000 |
0 |
0 |
|
Total Fixed Assets |
314,894 |
371,168 |
359,373 |
|
Inventories |
6,005,059 |
7,944,525 |
6,963,900 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
6,005,059 |
7,944,525 |
6,963,900 |
|
Trade Debtors |
32,689,680 |
25,002,533 |
18,033,593 |
|
Cash |
3,784,978 |
827,943 |
562,708 |
|
- Miscellaneous Current Assets |
15,164 |
7,916 |
35,889 |
|
Total Current Assets |
42,494,881 |
33,802,917 |
25,616,090 |
|
Current Liabilities |
|||
|
- Trade Creditors |
13,241,846 |
5,646,395 |
9,198,970 |
|
- Short Term Group Loans |
7,992,333 |
5,718,600 |
0 |
|
- Other Short Term Loans |
22,839,592 |
22,388,713 |
12,313,156 |
|
- Miscellaneous Current Liabilities |
-7,897,299 |
-5,665,417 |
85,210 |
|
Total Current Liabilities |
36,176,472 |
28,088,291 |
21,597,336 |
|
Long Term Debts |
|||
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- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
5,928,810 |
5,446,227 |
3,807,224 |
|
- Other Long Term Liabilities |
35,829 |
51,178 |
59,641 |
|
Total Long Term Debts |
5,964,639 |
5,497,405 |
3,866,865 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
280,495 |
280,495 |
280,495 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
388,169 |
307,893 |
230,766 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
668,664 |
588,388 |
511,261 |
|
|
|||
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Working Capital |
6,318,409 |
5,714,626 |
4,018,754 |
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Net Worth |
668,664 |
588,388 |
511,261 |
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Ratio Analysis |
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Trading Performance |
|||
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Results on Ordinary Operations Before Taxation Margin |
0.13 |
0.14 |
-0.20 |
|
Return On Capital Employed |
1.99 |
2.14 |
-3.17 |
|
Return On Total Assets Employed |
0.31 |
0.38 |
-0.53 |
|
Return On Net Assets Employed |
2.09 |
2.28 |
-3.45 |
|
Sales / Net Working Capital |
15.61 |
16.38 |
17.25 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
6.09 |
8.49 |
10.05 |
|
Debtor Days |
120.95 |
97.52 |
94.96 |
|
Creditor Days |
49.41 |
22.63 |
48.59 |
|
Short Term Stability |
|||
|
Current Ratio |
1.17 |
1.20 |
1.19 |
|
Liquidity Ratio / Acid Ratio |
1.01 |
0.92 |
0.86 |
|
Current Debt Ratio |
54.10 |
47.74 |
42.24 |
|
Long Term Stability |
|||
|
Gearing |
5497.64 |
5702.62 |
3153.06 |
|
Equity In Percentage |
0.02 |
0.02 |
0.02 |
|
Total Debt Ratio |
54.98 |
57.03 |
31.53 |
Company Court Data
|
Protested Bills |
|
|
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 |
PANKAJBHAI BHIKHABBA VIRANI |
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Birth Date |
|
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Position Description |
Managing director |
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Address |
1 ACACIALAAN WILRIJK (ANTW.) |
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Country |
-- |
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Postal Code |
2610 |
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Birth Date |
2015-01-01 |
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Company Director |
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Full Name |
RASILA RAMESH VIRANI |
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Birth Date |
|
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Position Description |
Director |
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Address |
6 ASHLEY ROAD KOWLOON |
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Country |
Hong Kong |
|
Postal Code |
0 |
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Birth Date |
2015-01-01 |
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Company Director |
|
|
Full Name |
KARP IMPEX LTD |
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Birth Date |
|
|
Position Description |
Director |
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Address |
1411 PRASAD CHAMBERS MUMBAI |
|
Country |
India |
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Postal Code |
400004 |
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Birth Date |
2015-01-01 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.77 |
|
UK Pound |
1 |
Rs.73.45 |
|
Euro |
1 |
Rs.64.55 |
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 |
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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.