MIRA INFORM REPORT
|
Report Date : |
29.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SWADIP GEMS BVBA |
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|
|
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Registered Office : |
2, Hoveniersstraat, Antwerpen Post Code 2018 |
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Country : |
Belgium |
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|
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
01.07.1985 |
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Com. Reg. No.: |
427397836 |
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Legal Form : |
Private Limited Liability Company |
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|
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Line of Business : |
Wholesale of diamonds and other precious stones |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Usually Correct |
|
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Summary
|
company details |
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Company Number |
427397836 |
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Name |
|
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Address |
2, HOVENIERSSTRAAT, ANTWERPEN |
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Post Code |
2018 |
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Telephone Number |
032313851 |
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Fax Number |
032326589 |
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Establishment Date |
01-07-1985 |
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Company Status |
ACTIVE |
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Company Type |
Private limited liability company |
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Number of Employees |
1 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
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Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
QUINTEN MATSIJSLEI |
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House Number |
35 |
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City |
ANTWERPEN |
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Postal Code |
2018 |
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Trade Registered Number |
246738 |
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Trade Registered Entry Date |
01-07-1985 |
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Contractor Details |
|
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Registration Number |
-- |
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Contractor Description |
-- |
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Striking Off Date |
-- |
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Latest Event |
|
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Serial Number |
5825 |
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Event Description |
Increase of capital |
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Limit |
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Credit Information |
|
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Purchase Limit (€) |
2,400,000 |
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Industry Comparison |
|
|
Industry Average Credit Limit (€) |
162,536 |
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Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
135.62 |
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Day Sales Outstanding |
251.95 |
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Industry Comparison |
|
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Activity Code |
4676 |
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Activity Description |
Wholesale of other intermediate products |
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Industry Average Day Sales Outstanding |
124.66 |
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Industry Average Payment Expectation Days |
137 |
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Industry Quartile Analysis |
|
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Payment Expectations - Lower |
41.25 |
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Payment Expectations - Median |
90.32 |
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Payment Expectations - Upper |
162.53 |
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|
|
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Day Sales Outstanding - Lower |
31.52 |
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Day Sales Outstanding - Median |
75.21 |
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Day Sales Outstanding - Upper |
158.58 |
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Company Shareholder Holding |
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Company Accounts
|
Period |
|||
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Accounts End Date |
31-12-2009 |
31-12-2008 |
31-12-2007 |
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Currency |
EUR |
EUR |
EUR |
|
Weeks |
52 |
52 |
52 |
|
Profit & Loss |
|||
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Turnover |
16,193,735 |
31,412,919 |
31,644,629 |
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Total Operating Expenses |
15,795,583 |
30,903,443 |
31,096,995 |
|
Operating Result |
398,152 |
509,476 |
547,634 |
|
Total Financial Income |
6 |
899 |
1,480 |
|
Total Financial Expenses |
386,908 |
463,345 |
494,167 |
|
Results on Ordinary Operations Before Tax |
11,251 |
47,030 |
54,946 |
|
Taxation |
7,936 |
20,567 |
21,465 |
|
Results on Ordinary Operations After Tax |
3,315 |
26,463 |
33,481 |
|
Extraordinary Items |
0 |
2,376 |
0 |
|
Net Result |
3,315 |
28,839 |
33,482 |
|
Other Information |
|||
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Dividends |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
|
Employee Costs |
13,354 |
11,560 |
12,039 |
|
- Wages & Salaries |
7,929 |
6,741 |
7,104 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
3,911 |
3,397 |
3,098 |
|
- Other Employee Costs |
1,514 |
1,422 |
1,837 |
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Amortization & Depreciation |
13,036 |
20,919 |
21,127 |
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Balance Sheet |
|||
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Intangible Fixed Assets |
288 |
1,708 |
3,128 |
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Tangible Fixed Assets |
201,423 |
212,296 |
231,795 |
|
- Land And Buildings |
195,105 |
201,028 |
206,951 |
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- Plant And Machinery |
5,138 |
7,108 |
10,581 |
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- Other Tangible Assets |
1,180 |
4,160 |
14,263 |
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Financial Fixed Assets |
50 |
50 |
50 |
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Total Fixed Assets |
201,761 |
214,054 |
234,973 |
|
Inventories |
5,581,585 |
5,520,278 |
4,292,094 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
5,581,585 |
5,520,278 |
4,292,094 |
|
Trade Debtors |
11,178,085 |
15,350,811 |
12,734,305 |
|
Cash |
11,259 |
166,008 |
68,613 |
|
- Miscellaneous Current Assets |
31,947 |
5,031 |
2,450 |
|
Total Current Assets |
17,015,376 |
21,213,776 |
17,196,649 |
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Current Liabilities |
|||
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- Trade Creditors |
5,868,900 |
5,474,794 |
6,260,708 |
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- Short Term Group Loans |
0 |
0 |
0 |
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- Other Short Term Loans |
4,481,179 |
9,037,426 |
4,407,706 |
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- Miscellaneous Current Liabilities |
239,345 |
223,710 |
185,662 |
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Total Current Liabilities |
10,589,424 |
14,735,930 |
10,854,076 |
|
Long Term Debts |
|||
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- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
0 |
0 |
13,332 |
|
- Other Long Term Liabilities |
2,667,274 |
2,734,811 |
2,635,965 |
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Total Long Term Debts |
2,667,274 |
2,734,811 |
2,649,297 |
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Shareholders Equity |
|||
|
- Issued Share Capital |
3,766,631 |
3,766,631 |
18,600 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
193,809 |
190,458 |
3,909,650 |
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- Revaluation Reserve |
0 |
0 |
0 |
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Total Shareholders Equity |
3,960,440 |
3,957,089 |
3,928,250 |
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|||
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Working Capital |
6,425,952 |
6,477,846 |
6,342,573 |
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Net Worth |
3,960,152 |
3,955,381 |
3,925,122 |
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Ratio Analysis |
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Trading Performance |
|||
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Results on Ordinary Operations Before Taxation Margin |
0.07 |
0.15 |
0.17 |
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Return On Capital Employed |
0.17 |
0.70 |
0.84 |
|
Return On Total Assets Employed |
0.07 |
0.22 |
0.32 |
|
Return On Net Assets Employed |
0.18 |
0.73 |
0.87 |
|
Sales / Net Working Capital |
2.52 |
4.85 |
4.99 |
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Operating Efficiency |
|||
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Stock Turnover Ratio |
34.47 |
17.57 |
13.56 |
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Debtor Days |
251.95 |
178.37 |
146.88 |
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Creditor Days |
135.62 |
64.66 |
73.48 |
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Short Term Stability |
|||
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Current Ratio |
1.61 |
1.44 |
1.58 |
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Liquidity Ratio / Acid Ratio |
1.08 |
1.06 |
1.19 |
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Current Debt Ratio |
2.67 |
3.72 |
2.76 |
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Long Term Stability |
|||
|
Gearing |
113.15 |
228.39 |
112.54 |
|
Equity In Percentage |
0.23 |
0.18 |
0.23 |
|
Total Debt Ratio |
1.13 |
2.28 |
1.13 |
Company Court Data
|
Protested Bills |
|
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Drawee Name |
-- |
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Drawee Address |
-- |
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Bill Amount |
|
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Bill Currency |
-- |
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Maturity of Bill (month) |
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Name of Drawer |
-- |
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City of Drawer |
-- |
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NSSO Details |
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Name of Defendant |
-- |
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Legal Form of Defendant |
-- |
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Date of Summons |
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Labour Court |
-- |
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Directors |
|
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Company Director |
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Full Name |
RAJESH KANTILAL SHAH |
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Birth Date |
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Position Description |
Manager |
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Address |
35 QUINTEN MATSIJSLEI ANTWERPEN |
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Country |
-- |
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Postal Code |
2018 |
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Birth Date |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.05 |
|
UK Pound |
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.64.37 |
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.