MIRA INFORM REPORT

Report Date :

02.03.2011

IDENTIFICATION DETAILS

Name :	ENVY EVBA

Registered Office :	Hoveniersstraat 30 Antwerpen 2018

Country :	Belgium

Financials (as on) :	31.12.2009

Date of Incorporation :	31.01.2003

Com. Reg. No.:	479511679

Legal Form :	Private (Sole-Trader) Limited Liability Company

Line of Business :	Wholesale of watches and jewellery

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No Complaints

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 – June 30, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Belgium

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Summary

Company Summary
Business Name	ENVY EVBA
Business Number	479511679
Address	HOVENIERSSTRAAT 30 ANTWERPEN
Post Code	2018
Telephone	037072595
Fax Number	--
Date of Establisment	31/01/2003
Number of Employees	0

Credit Information Summary
Date of Deposit at Registry	29/07/2010
Date of Last Accounts	31/12/2009
Turnover	-
Results of Ordinary Operations Before Tax	-
Networth	8,765

Past Payments
Payment Expectation Days
Days Sales Outstanding
Industry Average Payment Expectation Days	115.29
Industry Average Day Sales Outstanding	100.78

Court Data Summary
bankruptcy details
Court Action Type	None
Protested Bills
Bill Amount
NSSO Details
Date of Summons	//

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	-	-	-	-	-
Total Operating Expenses	-	-	-	-	-
Operating Result	156,835	18.8%	131,963	99.5%	66,134
Total Financial Income	22,397	85.3%	12,090	724.7%	1,466
Total Financial Expenses	76,825	490.6%	13,007	61.6%	8,048
Results on Ordinary Operations Before Tax	102,407	-21.9%	131,046	120.1%	59,552
Taxation	-	-	-	-	265
Results on Ordinary Operations After Tax	102,407	-21.9%	131,046	121.0%	59,287
Extraordinary Items	-3,304	96.5%	-95,508	55.2%	-213,306
Net Result	99,103	178.9%	35,538	123.1%	-154,019
Other Information
Dividends	-	-	-	-	-
Director Remuneration	-	-	-	-	-
Employee Costs	18,627	-	0	-	0
- Wages & Salaries	14,684	-	-	-	-
- Social Security Contributions	3,943	-	-	-	-
- Other Employee Costs	-	-	-	-	-
Amortization & Depreciation	2,354	2.1%	2,305	4.9%	2,198

Balance Sheet
Accounts End Date	31/12/2009	%	31/12/2008	%	31/12/2007
Weeks	52	-	52	-	52
Intangible Fixed Assets	1,700	-50.0%	3,400	-33.3%	5,100
Tangible Fixed Assets	2,270	364.2%	489	-12.4%	558
- Land And Buildings	0	-	0	-	0
- Plant And Machinery	2,270	364.2%	489	-12.4%	558
- Other Tangible Assets	0	-	0	-	0
Financial Fixed Assets	525,591	-25.7%	707,525	7,347.6%	9,500
Total Fixed Assets	529,561	-25.6%	711,414	4,593.3%	15,158
Inventories
- Raw Materials & Consumables	0	-	0	-	0
- Work in Progress	0	-	0	-	0
- Finished Goods	0	-	0	-	0
- Other Stocks	527,348	129.7%	229,548	-7.4%	247,876
Trade Debtors	1,438,255	75.7%	818,784	-27.8%	1,133,914
Cash	10,120	14.1%	8,870	-73.3%	33,218
- Miscellaneous Current Assets	492,901	-25.8%	664,343	-	0
Total Current Assets	2,538,092	32.9%	1,909,270	34.2%	1,422,982

- Trade Creditors	1,200,514	-2.1%	1,226,319	79.1%	684,702
- Short Term Group Loans	0	-	0	-	0
- Other Short Term Loans	104	-84.9%	690	-	0
- Miscellaneous Current Liabilities	879,146	1.1%	869,176	-1.0%	877,614
Total Current Liabilities	2,079,764	-0.8%	2,096,185	34.2%	1,562,316

- Long Term Group Loans	0	-	0	-	0
- Other Long Term Loans	977,424	59.4%	613,137	-	0
- Other Long Term Liabilities	0	-	0	-	0
Total Long Term Debts	977,424	59.4%	613,137	-	0

- Issued Share Capital	18,600	0.0%	18,600	0.0%	18,600
- Share Premium Account	0	-	0	-	0
- Reserves	-8,135	92.4%	-107,238	24.9%	-142,776
- Revaluation Reserve	0	-	0	-	0
Total Shareholders Equity	10,465	111.8%	-88,638	28.6%	-124,176

Working Capital	458,328	345.2%	-186,915	-34.1%	-139,334
Net Worth	8,765	109.5%	-92,038	28.8%	-129,276

Ratio Analysis
Trading Performance
Pre-tax Profit Margin	-	-	-	-	-
Return On Capital Employed	10.37	-58.5%	24.98	152.1%	-47.96
Return On Total Assets Employed	3.34	-33.2%	5.00	20.8%	4.14
Return On Net Assets Employed	22.34	131.9%	-70.11	-64.0%	-42.74
Sales / Net Working Capital	-	-	-	-	-
Operating Efficiency
Stock Turnover Ratio	-	-	-	-	-
Debtor Days	-	-	-	-	-
Creditor Days	-	-	-	-	-
Short Term Stability
Current Ratio	1.22	34.1%	0.91	0.0%	0.91
Liquidity Ratio / Acid Ratio	0.97	21.3%	0.80	6.7%	0.75
Current Debt Ratio	198.74	940.3%	-23.65	-88.0%	-12.58
Long Term Stability
Gearing	9,340.93	1,448.9%	-692.51	-	0
Equity In Percentage	0	100.0%	-0.03	66.7%	-0.09
Total Debt Ratio	93.41	1,447.9%	-6.93	-	0

Payment Expectations

Industry Comparison
Activity Code	4648
Activity Description	Wholesale of watches and jewellery
Industry Average Day Sales Outstanding	100.78
Industry Average Payment Expectation Days	115.29

Industry Quartile Analysis
Payment Expectation Days
Payment Expectations - Lower	19.48
Payment Expectations - Median	63.94
Payment Expectations - Upper	148.97
Day Sales Outstanding
Day Sales Outstanding - Lower	20.55
Day Sales Outstanding - Median	58.89
Day Sales Outstanding - Upper	139.74

Shareholders

Holding Company
Company Name	UNIGLO BVBA
Business Number	473753542
Share Percentage	60
Annual Accounts Date	01/12/2009

No subsidaries for this company.

Court Data

Bankruptcy Data

There is no bankruptcy data against this company.

Directors

Company Director
FullName	DARSHIT AJIT SHAH
Position	Manager
Address	134 BELGIELEI ANTWERPEN
Postal Code	2018

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.12
UK Pound	1	Rs.73.43
Euro	1	Rs.62.32

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.

company details
Business Number	479511679
Name	ENVY EVBA
Fax Number	--
Establishment Date	31/01/2003
Company Status	ACTIVE
Company Type	Private (sole-trader) limited liability comp.
Activity Description	Wholesale of watches and jewellery
Activity Code	46480
Liable For Vat	yes
Currency	Euro (€)

Latest Branch Details
Street	HOVENIERSSTRAAT
House Number	2
City	ANTWERPEN
Postal Code	2018
Trade Registered Number	354172
Trade Registered Entry Date	01/05/2003
view all

Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	//

Latest Event
Serial Number	100531
Event Description	Dismissal
view all