MIRA INFORM REPORT

Report Date :

24.06.2011

IDENTIFICATION DETAILS

Name :	H.D. DIAM BVBA
Registered Office :	2, Hoveniersstraat, Antwerpen 2018
Country :	Belgium
Financials (as on) :	31.12.2009
Date of Incorporation :	04.10.2007
Com. Reg. No.:	892903014
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	892903014
Name	H.D. DIAM BVBA
Address	2, HOVENIERSSTRAAT, ANTWERPEN
Post Code	2018
Telephone Number	032887791
Fax Number	032839625
Establishment Date	04-10-2007
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	LANGE HERENTALSESTRAAT
House Number	113
City	ANTWERPEN
Postal Code	2018
Trade Registered Number	0
Trade Registered Entry Date	01-11-2007
Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	--
Latest Event
Serial Number	182337
Event Description	Transfer of registered office
Limit
Credit Information
Credit Limit (€)
Purchase Limit (€)
Industry Comparison
Industry Average Credit Limit (€)	160,266
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
Shareholder Detail
Company Number	4620861
Company Name	HARI DARSHAN EXPORTS
Address	THE JEWEL (ROXY), M.P. MARG 307, MUMBAI
Postal Code	400004
Country
Share Percentage
Annual Accounts Date	--

Company Accounts

Period
Accounts End Date	31-12-2009	31-12-2008
Currency	EUR	EUR
Weeks	52	52
Profit & Loss
Turnover	-	-
Total Operating Expenses	-	-
Operating Result	65,210	35,232
Total Financial Income	1	99
Total Financial Expenses	10,727	9,239
Results on Ordinary Operations Before Tax	54,484	26,092
Taxation	-	15
Results on Ordinary Operations After Tax	54,484	26,077
Extraordinary Items	0	0
Net Result	54,484	26,077
Other Information
Dividends	-	-
Director Remuneration	-	-
Employee Costs	237	387
- Wages & Salaries	-	-
- Employee Pension Costs	-	-
- Social Security Contributions	-	-
- Other Employee Costs	237	387
Amortization & Depreciation	1,714	940
Balance Sheet
Intangible Fixed Assets	0	0
Tangible Fixed Assets	6,184	7,320
- Land And Buildings	0	0
- Plant And Machinery	5,480	7,064
- Other Tangible Assets	704	256
Financial Fixed Assets	2,810	2,810
Total Fixed Assets	8,994	10,130
Inventories	2,713,684	2,477,770
- Raw Materials & Consumables	0	0
- Work in Progress	0	0
- Finished Goods	0	0
- Other Stocks	2,713,684	2,477,770
Trade Debtors	2,008,669	1,893,884
Cash	12,507	22,931
- Miscellaneous Current Assets	6,297	2,368
Total Current Assets	4,744,540	4,400,439
Current Liabilities
- Trade Creditors	2,801,157	2,501,400
- Short Term Group Loans	0	0
- Other Short Term Loans	0	0
- Miscellaneous Current Liabilities	350,302	363,606
Total Current Liabilities	3,151,459	2,865,006
Long Term Debts
- Long Term Group Loans	0	0
- Other Long Term Loans	0	0
- Other Long Term Liabilities	2,914	885
Total Long Term Debts	2,914	885
Shareholders Equity
- Issued Share Capital	1,518,600	1,518,600
- Share Premium Account	0	0
- Reserves	80,561	26,077
- Revaluation Reserve	0	0
Total Shareholders Equity	1,599,161	1,544,677
Working Capital	1,593,081	1,535,433
Net Worth	1,599,161	1,544,677
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-	-
Return On Capital Employed	3.40	1.69
Return On Total Assets Employed	1.15	0.59
Return On Net Assets Employed	3.42	1.70
Sales / Net Working Capital	-	-
Operating Efficiency
Stock Turnover Ratio	-	-
Debtor Days	-	-
Creditor Days	-	-
Short Term Stability
Current Ratio	1.51	1.54
Liquidity Ratio / Acid Ratio	0.64	0.67
Current Debt Ratio	1.97	1.85
Long Term Stability
Gearing	0	0
Equity In Percentage	0.34	0.35
Total Debt Ratio	0	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	DHARMESHKUMAR BHAGWA PATEL
Birth Date
Position Description	Manager
Address	0 L.B.S. ROAD AHMEDABAD, GUJARAT
Country	India
Postal Code	0
Birth Date

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.93
UK Pound	1	Rs.72.09
Euro	1	Rs.64.21

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.