MIRA INFORM REPORT

Report Date :

20.06.2011

IDENTIFICATION DETAILS

Name :	SNEHDIAM BVBA
Registered Office :	62, Pelikaanstraat, Antwerpen 2018
Country :	Belgium
Financials (as on) :	31.12.2009
Date of Incorporation :	21.10.1992
Com. Reg. No.:	448544826
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

Company Summary

company details
Company Number	448544826
Name	SNEHDIAM BVBA
Address	62, PELIKAANSTRAAT, ANTWERPEN
Post Code	2018
Telephone Number	032132793
Fax Number	032132793
Establishment Date	21-10-1992
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	SCHUPSTRAAT
House Number	1
City	ANTWERPEN
Postal Code	2018
Trade Registered Number	292813
Trade Registered Entry Date	01-12-1992
Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	--
Latest Event
Serial Number	394
Event Description	Dismissal
Limit
Credit Information
Purchase Limit (€)	130,000
Industry Comparison
Industry Average Credit Limit (€)	161,654
Payment Expectations
Payment Expectations
Payment Expectation Days	96.46
Day Sales Outstanding	113.45
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	1,305,047	4,250,037	3,151,974
Total Operating Expenses	1,309,513	4,235,528	3,140,942
Operating Result	-4,466	14,509	11,032
Total Financial Income	-	-	-
Total Financial Expenses	5,533	10,009	9,182
Results on Ordinary Operations Before Tax	-9,999	4,500	1,850
Taxation	-	-	-
Results on Ordinary Operations After Tax	-9,999	4,500	1,850
Extraordinary Items	0	0	0
Net Result	-9,999	4,500	1,850
Other Information
Dividends	-	-	-
Director Remuneration	-	-	-
Employee Costs	0	0	0
- Wages & Salaries	-	-	-
- Employee Pension Costs	-	-	-
- Social Security Contributions	-	-	-
- Other Employee Costs	-	-	-
Amortization & Depreciation	518	518	518
Balance Sheet
Intangible Fixed Assets	0	0	0
Tangible Fixed Assets	195	714	1,232
- Land And Buildings	0	0	0
- Plant And Machinery	0	0	0
- Other Tangible Assets	195	714	1,232
Financial Fixed Assets	1,198	1,198	1,198
Total Fixed Assets	1,393	1,912	2,430
Inventories	690,681	941,797	1,813,701
- Raw Materials & Consumables	0	0	0
- Work in Progress	0	0	0
- Finished Goods	0	0	0
- Other Stocks	690,681	941,797	1,813,701
Trade Debtors	405,637	580,198	1,111,447
Cash	14,581	46,377	86,137
- Miscellaneous Current Assets	1,140	1,140	1,140
Total Current Assets	1,112,765	1,572,731	3,020,351
Current Liabilities
- Trade Creditors	346,086	726,747	2,165,057
- Short Term Group Loans	0	0	0
- Other Short Term Loans	0	27,182	30,330
- Miscellaneous Current Liabilities	675,445	718,088	729,268
Total Current Liabilities	1,021,531	1,472,017	2,924,655
Long Term Debts
- Long Term Group Loans	0	0	0
- Other Long Term Loans	0	0	0
- Other Long Term Liabilities	0	0	0
Total Long Term Debts	0	0	0
Shareholders Equity
- Issued Share Capital	18,592	18,592	18,592
- Share Premium Account	0	0	0
- Reserves	74,035	84,034	79,534
- Revaluation Reserve	0	0	0
Total Shareholders Equity	92,627	102,626	98,126
Working Capital	91,234	100,714	95,696
Net Worth	92,627	102,626	98,126
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-0.77	0.11	0.06
Return On Capital Employed	-10.79	4.38	1.89
Return On Total Assets Employed	-0.90	0.29	0.06
Return On Net Assets Employed	-10.96	4.47	1.93
Sales / Net Working Capital	14.30	42.20	32.94
Operating Efficiency
Stock Turnover Ratio	52.92	22.16	57.54
Debtor Days	113.45	49.83	128.71
Creditor Days	96.46	62.63	251.60
Short Term Stability
Current Ratio	1.09	1.07	1.03
Liquidity Ratio / Acid Ratio	0.41	0.43	0.41
Current Debt Ratio	11.03	14.34	29.81
Long Term Stability
Gearing	0	26.49	30.91
Equity In Percentage	0.08	0.07	0.03
Total Debt Ratio	0	0.26	0.31

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	SAMIR SURESHKUMAR MEHTA
Birth Date
Position Description	Manager
Address	94 BELGIELEI ANTWERPEN
Country	--
Postal Code	2018
Birth Date

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.93
UK Pound	1	Rs.72.43
Euro	1	Rs.63.62

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.