MIRA INFORM REPORT

Report Date :

15.06.2011

IDENTIFICATION DETAILS

Name :	MY DEAR DIAMONDS BVBA
Registered Office :	62, Pelikaanstraat, Antwerpen 2018
Country :	Belgium
Financials (as on) :	31.12.2009
Date of Incorporation :	22.02.2005
Com. Reg. No.:	872381178
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 :	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 – 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 Summary

company details
Company Number	872381178
Name	MY DEAR DIAMONDS BVBA
Address	62, PELIKAANSTRAAT, ANTWERPEN
Post Code	2018
Telephone Number	032253676
Fax Number	--
Establishment Date	22-02-2005
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	QUINTEN MATSIJSLEI
House Number	11
City	ANTWERPEN
Postal Code	2018
Trade Registered Number	0
Trade Registered Entry Date	01-04-2005
Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	--
Latest Event
Serial Number	3622
Event Description	Transfer of registered office
Limit
Purchase Limit (€)
Industry Comparison
Industry Average Credit Limit (€)	161,588
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

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	8,507	16,118	3,461
Total Financial Income	48	296	485
Total Financial Expenses	3,365	2,515	937
Results on Ordinary Operations Before Tax	5,191	13,899	3,009
Taxation	2,136	3,817	518
Results on Ordinary Operations After Tax	3,055	10,082	2,491
Extraordinary Items	0	0	0
Net Result	3,055	10,082	2,490
Other Information
Dividends	-	-	-
Director Remuneration	-	-	-
Employee Costs	104	56	0
- Wages & Salaries	-	-	-
- Employee Pension Costs	-	-	-
- Social Security Contributions	-	-	-
- Other Employee Costs	104	56	-
Amortization & Depreciation	7,954	4,099	918
Balance Sheet
Intangible Fixed Assets	0	0	0
Tangible Fixed Assets	29,131	35,457	744
- Land And Buildings	0	0	0
- Plant And Machinery	1,772	335	744
- Other Tangible Assets	27,359	35,122	0
Financial Fixed Assets	0	0	0
Total Fixed Assets	29,131	35,457	744
Inventories	1,046,667	1,166,976	1,420,603
- Raw Materials & Consumables	0	0	0
- Work in Progress	0	0	0
- Finished Goods	0	0	0
- Other Stocks	1,046,667	1,166,976	1,420,603
Trade Debtors	1,419,023	445,790	611,383
Cash	77,557	43,809	164,302
- Miscellaneous Current Assets	4,525	2,585	2,317
Total Current Assets	2,551,021	1,669,341	2,200,356
Current Liabilities
- Trade Creditors	1,116,979	177,861	777,446
- Short Term Group Loans	0	0	0
- Other Short Term Loans	28,556	35,648	0
- Miscellaneous Current Liabilities	1,390,602	1,450,329	1,390,826
Total Current Liabilities	2,536,137	1,663,838	2,168,272
Long Term Debts
- Long Term Group Loans	0	0	0
- Other Long Term Loans	0	0	0
- Other Long Term Liabilities	0	0	1,950
Total Long Term Debts	0	0	1,950
Shareholders Equity
- Issued Share Capital	18,600	18,600	18,600
- Share Premium Account	0	0	0
- Reserves	25,415	22,360	12,278
- Revaluation Reserve	0	0	0
Total Shareholders Equity	44,015	40,960	30,878
Working Capital	14,884	5,503	32,084
Net Worth	44,015	40,960	30,878
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-	-	-
Return On Capital Employed	11.79	33.93	9.17
Return On Total Assets Employed	0.20	0.82	0.14
Return On Net Assets Employed	34.88	252.57	9.38
Sales / Net Working Capital	-	-	-
Operating Efficiency
Stock Turnover Ratio	-	-	-
Debtor Days	-	-	-
Creditor Days	-	-	-
Short Term Stability
Current Ratio	1.01	1	1.01
Liquidity Ratio / Acid Ratio	0.59	0.30	0.36
Current Debt Ratio	57.62	40.62	70.22
Long Term Stability
Gearing	64.88	87.03	0
Equity In Percentage	0.02	0.02	0.01
Total Debt Ratio	0.65	0.87	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	YASH BIRENDRAKUMAR BOTHRA
Birth Date
Position Description	Manager
Address	11 QUINTEN MATSIJSLEI ANTWERPEN
Country	--
Postal Code	2018
Birth Date

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
----	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%)

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.