MIRA INFORM REPORT

Report Date :

22.06.2011

IDENTIFICATION DETAILS

Name :	TEJ-DIAM BVBA
Registered Office :	2, Hoveniersstraat, Antwerpen 2018
Country :	Belgium
Financials (as on) :	30.06.2010
Date of Incorporation :	20.10.1995
Com. Reg. No.:	456247418
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 :	Slow
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	456247418
Name	TEJ-DIAM BVBA
Address	2, HOVENIERSSTRAAT, ANTWERPEN
Post Code	2018
Telephone Number	032305449
Fax Number	032275425
Establishment Date	20-10-1995
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	BELGIELEI
House Number	92
City	ANTWERPEN
Postal Code	2018
Trade Registered Number	312646
Trade Registered Entry Date	01-11-1995
Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	--
Latest Event
Serial Number	171635
Event Description	Transfer of registered office
Limit
Credit Information
Purchase Limit (€)	120,000
Industry Comparison
Industry Average Credit Limit (€)	161,654
Payment Expectations
Payment Expectations
Payment Expectation Days	307.18
Day Sales Outstanding	69.08
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	30-06-2010	30-06-2009	30-06-2008
Currency	EUR	EUR	EUR
Weeks	52	52	52
Profit & Loss
Turnover	1,242,590	1,119,682	2,493,128
Total Operating Expenses	1,242,292	1,111,018	2,480,894
Operating Result	298	8,664	12,234
Total Financial Income	-	3	7
Total Financial Expenses	10,630	9,998	10,400
Results on Ordinary Operations Before Tax	-10,331	-1,331	1,841
Taxation	-	-9	500
Results on Ordinary Operations After Tax	-10,331	-1,322	1,341
Extraordinary Items	0	0	0
Net Result	-10,331	-1,322	1,341
Other Information
Dividends	-	-	-
Director Remuneration	-	-	-
Employee Costs	0	0	0
- Wages & Salaries	-	-	-
- Employee Pension Costs	-	-	-
- Social Security Contributions	-	-	-
- Other Employee Costs	-	-	-
Amortization & Depreciation	7,700	11,032	11,032
Balance Sheet
Intangible Fixed Assets	0	0	0
Tangible Fixed Assets	101,820	109,521	120,553
- Land And Buildings	93,929	93,929	97,261
- Plant And Machinery	0	0	0
- Other Tangible Assets	7,891	15,592	23,292
Financial Fixed Assets	0	0	0
Total Fixed Assets	101,820	109,521	120,553
Inventories	1,249,694	612,500	559,200
- Raw Materials & Consumables	0	0	0
- Work in Progress	0	0	0
- Finished Goods	0	0	0
- Other Stocks	1,249,694	612,500	559,200
Trade Debtors	235,167	231,269	391,361
Cash	6,297	12,103	83,558
- Miscellaneous Current Assets	1	0	1
Total Current Assets	1,492,626	857,833	1,036,011
Current Liabilities
- Trade Creditors	1,045,510	321,349	515,525
- Short Term Group Loans	0	0	0
- Other Short Term Loans	9,153	25,633	13,854
- Miscellaneous Current Liabilities	429,924	491,214	483,222
Total Current Liabilities	1,484,587	838,196	1,012,601
Long Term Debts
- Long Term Group Loans	0	0	0
- Other Long Term Loans	70,098	79,066	92,549
- Other Long Term Liabilities	0	0	0
Total Long Term Debts	70,098	79,066	92,549
Shareholders Equity
- Issued Share Capital	18,592	18,592	18,592
- Share Premium Account	0	0	0
- Reserves	21,169	31,500	32,822
- Revaluation Reserve	0	0	0
Total Shareholders Equity	39,761	50,092	51,414
Working Capital	8,039	19,637	23,410
Net Worth	39,761	50,092	51,414
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-0.83	-0.12	0.07
Return On Capital Employed	-9.40	-1.03	1.28
Return On Total Assets Employed	-0.65	-0.14	0.16
Return On Net Assets Employed	-128.51	-6.78	7.86
Sales / Net Working Capital	154.57	57.02	106.50
Operating Efficiency
Stock Turnover Ratio	100.57	54.70	22.43
Debtor Days	69.08	75.39	57.30
Creditor Days	307.18	105.57	75.85
Short Term Stability
Current Ratio	1.01	1.02	1.02
Liquidity Ratio / Acid Ratio	0.16	0.29	0.47
Current Debt Ratio	37.34	16.73	19.70
Long Term Stability
Gearing	199.32	209.01	206.95
Equity In Percentage	0.02	0.05	0.04
Total Debt Ratio	1.99	2.09	2.07

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	MUKESH KANAIYALAL SHAH
Birth Date
Position Description	Manager
Address	101 SODAWALS LANE BOMBAY
Country	India
Postal Code	0
Birth Date

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.91
UK Pound	1	Rs.72.90
Euro	1	Rs.64.48

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.