MIRA INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
EXELCO NV |
|
|
|
|
Registered Office : |
Pelikaanstraat 62 Antwerpen Post Code 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
08.03.1995 |
|
|
|
|
Com. Reg. No.: |
454661071 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
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 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
REGISTERED NAME & COMPANY
SUMMARY
|
Company Summary |
|
|
Business Name |
EXELCO NV |
|
Business Number |
454661071 |
|
Address |
PELIKAANSTRAAT 62 ANTWERPEN |
|
Post Code |
|
|
Telephone |
032332452 |
|
Fax Number |
032338841 |
|
Date of Establishment |
08/03/1995 |
|
Number of Employees |
7 |
Company
Information
|
company details |
|
|
Business Number |
454661071 |
|
Name |
EXELCO NV |
|
Fax Number |
032338841 |
|
Establishment Date |
08/03/1995 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
HOVENIERSSTRAAT |
|
House Number |
30 |
|
City |
ANTWERPEN |
|
Postal Code |
2018 |
|
Trade Registered Number |
308764 |
|
Trade Registered Entry Date |
01/04/1995 |
CREDIT RECOMENDATION
Credit Limit additional comments:
|
Credit Information Summary |
|
|
Company Status |
ACTIVE |
|
Purchase Limit (€) |
17,600,000 |
|
Date of Deposit at Registry |
07/07/2010 |
|
Date of Last Accounts |
31/12/2009 |
|
Turnover |
70,281,719 |
|
Results of Ordinary Operations Before Tax |
61,129 |
|
Networth |
3,413,527 |
DIRECTORS/MANAGEMENT
Directors
|
Company Director |
|
|
Full Name |
JEAN-PAUL MEIJER TOLKOWSKY |
|
Position |
Managing director |
|
Address |
36 VAN PUTLEI ANTWERPEN |
|
Postal Code |
2018 |
|
Country |
-- |
|
Company Director |
|
|
Full Name |
LIOR KUNSTLER |
|
Position |
Managing director |
|
Address |
4 ALBERT EINSTEIN STREET HERZELIA PITUACH |
|
Postal Code |
0 |
|
Country |
-- |
|
Company Director |
|
|
Full Name |
TSIM SHA TSUI |
|
Position |
Director |
|
Address |
2228 HILLWOOD ROAD HILLWOOD COURT |
|
Postal Code |
0 |
|
Country |
United Kingdom |
|
Company Director |
|
|
Full Name |
EXELCO INTERNATIONAL LTD |
|
Position |
Director |
|
Address |
21 REMY OLLIER STR PORT LOUIS |
|
Postal Code |
0 |
|
Country |
Mauritius |
NEGATIVE INFORMATION
|
Court Data Summary |
|
|
bankruptcy details |
|
|
Court Action Type |
None |
|
Protested Bills |
|
|
Bill Amount |
|
|
NSSO Details |
|
|
Date of Summons |
// |
Court
Data
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
|
City of Drawer |
-- |
|
NSSO Details |
|
|
Business Number |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
Labour Court |
-- |
|
Bankruptcy Data |
|
There is no bankruptcy data against this company. |
SHARE & SHARE CAPITAL
INFORMATION
Shareholders
|
No holding companies for this company. |
PAYMENT INFORMATION
|
Past Payments |
|
|
Payment Expectation Days |
123.40 |
|
Days Sales Outstanding |
130.13 |
|
Industry Average Payment Expectation Days |
137 |
|
Industry Average Day Sales Outstanding |
124.66 |
|
Industry Quartile Analysis |
|
|
Payment Expectation Days |
|
|
Payment Expectations - Lower |
41.25 |
|
Payment Expectations - Median |
90.32 |
|
Payment Expectations - Upper |
162.53 |
|
Day Sales Outstanding |
|
|
Day Sales Outstanding - Lower |
31.52 |
|
Day Sales Outstanding - Median |
75.21 |
|
Day Sales Outstanding - Upper |
158.58 |
GROUP STRUCTURE & AFFILIATED
COMPANIES
|
Subsidiary |
|
|
Company Name |
EXELCO SOURCING BVBA |
|
Business Number |
893075337 |
|
Share Percentage |
50 |
|
Annual Accounts Date |
01/12/2009 |
FINANCIAL INFORMATION
Accounts & Ratio
|
Period |
|||||
|
Accounts End Date |
31/12/2009 |
% |
31/12/2008 |
% |
31/12/2007 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Currency |
EUR |
- |
EUR |
- |
EUR |
|
Profit &
Loss |
|
|||||
|
Turnover |
70,281,719 |
17.9% |
59,589,388 |
-15.1% |
70,213,240 |
|
|
Total Operating Expenses |
69,608,749 |
18.5% |
58,747,026 |
-15.1% |
69,174,439 |
|
|
Operating Result |
672,970 |
-20.1% |
842,362 |
-18.9% |
1,038,801 |
|
|
Total Financial Income |
16,843 |
-34.2% |
25,587 |
-54.3% |
56,006 |
|
|
Total Financial Expenses |
581,982 |
-26.6% |
793,119 |
-17.0% |
955,312 |
|
|
Results on Ordinary Operations Before Tax |
107,832 |
44.1% |
74,830 |
-46.4% |
139,496 |
|
|
Taxation |
46,703 |
1.1% |
46,210 |
-25.1% |
61,687 |
|
|
Results on Ordinary Operations After Tax |
61,129 |
113.6% |
28,620 |
-63.2% |
77,809 |
|
|
Extraordinary Items |
-10,333 |
- |
0 |
100.0% |
-21,683 |
|
|
Net Result |
50,796 |
77.5% |
28,621 |
-49.0% |
56,126 |
|
|
Other Information |
|
|||||
|
Dividends |
- |
- |
- |
- |
- |
|
|
Director Remuneration |
106,980 |
30.4% |
82,013 |
86.4% |
44,000 |
|
|
Employee Costs |
268,574 |
-5.3% |
283,626 |
4.5% |
271,351 |
|
|
- Wages & Salaries |
212,787 |
-3.2% |
219,878 |
4.5% |
210,409 |
|
|
- Social Security Contributions |
40,496 |
-14.6% |
47,430 |
6.9% |
44,363 |
|
|
- Other Employee Costs |
15,291 |
-6.3% |
16,318 |
-1.6% |
16,579 |
|
|
Amortization & Depreciation |
65,776 |
-21.9% |
84,228 |
-4.9% |
88,575 |
|
|
Balance Sheet |
|
|||||
|
Accounts End Date |
31/12/2009 |
% |
31/12/2008 |
% |
31/12/2007 |
|
|
Weeks |
52 |
- |
52 |
- |
52 |
|
|
Intangible Fixed Assets |
1,985 |
-74.9% |
7,910 |
-53.3% |
16,940 |
|
|
Tangible Fixed Assets |
144,654 |
-23.2% |
188,278 |
-23.0% |
244,375 |
|
|
- Land And Buildings |
0 |
- |
0 |
- |
0 |
|
|
- Plant And Machinery |
45,323 |
-32.0% |
66,604 |
-32.1% |
98,143 |
|
|
- Other Tangible Assets |
99,331 |
-18.4% |
121,674 |
-16.8% |
146,232 |
|
|
Financial Fixed Assets |
532,160 |
-3.3% |
550,253 |
20,100.2% |
2,724 |
|
|
Total Fixed Assets |
678,799 |
-9.1% |
746,441 |
182.7% |
264,039 |
|
|
Inventories |
|
|||||
|
- Raw Materials & Consumables |
0 |
- |
0 |
- |
0 |
|
|
- Work in Progress |
0 |
- |
0 |
- |
0 |
|
|
- Finished Goods |
0 |
- |
0 |
- |
0 |
|
|
- Other Stocks |
13,360,934 |
5.7% |
12,638,935 |
41.7% |
8,919,426 |
|
|
Trade Debtors |
25,056,219 |
17.0% |
21,409,884 |
4.1% |
20,569,881 |
|
|
Cash |
23,427 |
-8.2% |
25,518 |
-25.9% |
34,448 |
|
|
- Miscellaneous Current Assets |
583,957 |
-11.8% |
662,020 |
461.1% |
117,982 |
|
|
Total Current Assets |
39,756,093 |
12.2% |
35,439,583 |
16.8% |
30,338,703 |
|
|
|
|
|||||
|
- Trade Creditors |
23,533,463 |
27.3% |
18,493,153 |
42.0% |
13,027,355 |
|
|
- Short Term Group Loans |
25,505,234 |
1,621.4% |
1,481,660 |
- |
0 |
|
|
- Other Short Term Loans |
8,716,138 |
-11.4% |
9,842,029 |
-2.1% |
10,049,740 |
|
|
- Miscellaneous Current Liabilities |
-25,455,592 |
-1,675.4% |
-1,433,795 |
-1,955.6% |
77,268 |
|
|
Total Current Liabilities |
32,299,243 |
13.8% |
28,383,047 |
22.6% |
23,154,363 |
|
|
|
|
|||||
|
- Long Term Group Loans |
4,415,424 |
- |
0 |
- |
0 |
|
|
- Other Long Term Loans |
4,690,570 |
13.3% |
4,139,441 |
5.3% |
3,930,580 |
|
|
- Other Long Term Liabilities |
-4,385,856 |
-1,567.7% |
298,821 |
64.5% |
181,703 |
|
|
Total Long Term Debts |
4,720,138 |
6.4% |
4,438,262 |
7.9% |
4,112,283 |
|
|
|
|
|||||
|
- Issued Share Capital |
3,062,525 |
0.0% |
3,062,525 |
0.0% |
3,062,525 |
|
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
|
- Reserves |
352,987 |
16.8% |
302,191 |
10.5% |
273,571 |
|
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
|
Total Shareholders Equity |
3,415,512 |
1.5% |
3,364,716 |
0.9% |
3,336,096 |
|
|
|
|
|||||
|
Working Capital |
7,456,850 |
5.7% |
7,056,536 |
-1.8% |
7,184,340 |
|
|
Net Worth |
3,413,527 |
1.7% |
3,356,806 |
1.1% |
3,319,156 |
|
|
Ratio Analysis |
|
|||||
|
Trading Performance |
|
|||||
|
Pre-tax Profit Margin |
0.15 |
15.4% |
0.13 |
-35.0% |
0.20 |
|
|
Return On Capital Employed |
1.33 |
38.5% |
0.96 |
-48.7% |
1.87 |
|
|
Return On Total Assets Employed |
0.27 |
28.6% |
0.21 |
-54.3% |
0.46 |
|
|
Return On Net Assets Employed |
1.45 |
36.8% |
1.06 |
-45.4% |
1.94 |
|
|
Sales / Net Working Capital |
9.43 |
11.7% |
8.44 |
-13.6% |
9.77 |
|
|
Operating Efficiency |
|
|
||||
|
Stock Turnover Ratio |
19.01 |
-10.4% |
21.21 |
67.0% |
12.70 |
|
|
Debtor Days |
130.13 |
-0.8% |
131.14 |
22.6% |
106.93 |
|
|
Creditor Days |
123.40 |
7.4% |
114.90 |
67.2% |
68.74 |
|
|
Short Term Stability |
|
|
||||
|
Current Ratio |
1.23 |
-1.6% |
1.25 |
-4.6% |
1.31 |
|
|
Liquidity Ratio / Acid Ratio |
0.82 |
2.5% |
0.80 |
-14.0% |
0.93 |
|
|
Current Debt Ratio |
9.46 |
12.1% |
8.44 |
21.6% |
6.94 |
|
|
Long Term Stability |
|
|
||||
|
Gearing |
1,268.55 |
176.0% |
459.57 |
9.7% |
419.06 |
|
|
Equity In Percentage |
0.08 |
-11.1% |
0.09 |
-18.2% |
0.11 |
|
|
Total Debt Ratio |
12.69 |
175.9% |
4.60 |
9.8% |
4.19 |
|
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
// |
|
Latest Event |
|
|
Serial Number |
182340 |
|
Event Description |
Reappointment commissioner |
|
Industry Comparison |
|
|
Activity Code |
46761 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Industry Average Credit Rating |
67.21 |
|
Industry Average Credit Limit (€) |
162,536 |
|
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 |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.10 |
|
UK Pound |
1 |
Rs.71.88 |
|
Euro |
1 |
Rs.63.75 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.