MIRA INFORM REPORT
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Report Date : |
28.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
ELITE JEWELS BVBA |
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|
|
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Registered Office : |
30, Hoveniersstraat, Antwerpen 8300 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
09.11.1988 |
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Com. Reg. No.: |
435745477 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Non-Specialised Wholesale Trade |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
(€) 97,000 |
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
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
Information
|
Company Summary |
|
|
company details |
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|
Company Number |
435745477 |
|
Name |
ELITE JEWELS BVBA |
|
Address |
30, HOVENIERSSTRAAT, ANTWERPEN |
|
Post Code |
8300 |
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Telephone Number |
032015170 |
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Fax Number |
032316700 |
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Establishment Date |
09-11-1988 |
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Company Status |
ACTIVE |
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Company Type |
Private limited liability company |
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Number of Employees |
4 |
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Activity Description |
Non-specialised wholesale trade |
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Activity Code |
46900 |
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Liable For Vat |
yes |
|
Currency |
Euro (€) |
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Latest Branch Details |
|
|
Street |
KUNSTLAAN |
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House Number |
18 |
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City |
KNOKKE-HEIST |
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Postal Code |
8300 |
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Trade Registered Number |
76107 |
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Trade Registered Entry Date |
01-08-1992 |
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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 |
69 |
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Event Description |
Transfer of registered office |
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Limit |
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Credit Information |
|
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Credit Limit (€) |
97,000 |
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Purchase Limit (€) |
380,000 |
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Industry Comparison |
|
|
Industry Average
Credit Limit (€) |
32,894 |
|
Payment
Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
92.76 |
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Day Sales Outstanding |
162.68 |
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Industry Comparison |
|
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Activity Code |
4690 |
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Activity Description |
Non-specialised wholesale trade |
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Industry Average Day Sales Outstanding |
99.12 |
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Industry Average Payment Expectation Days |
78.47 |
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Industry Quartile Analysis |
|
|
Payment
Expectations - Lower |
31.43 |
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Payment
Expectations - Median |
65.43 |
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Payment
Expectations - Upper |
104.07 |
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|
|
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Day Sales
Outstanding - Lower |
21.89 |
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Day Sales
Outstanding - Median |
49.20 |
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Day Sales
Outstanding - Upper |
99.10 |
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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 |
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Profit & Loss |
|||
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Turnover |
2,512,016 |
3,118,500 |
1,802,449 |
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Total Operating Expenses |
2,329,488 |
2,908,171 |
1,522,829 |
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Operating Result |
182,528 |
210,329 |
279,620 |
|
Total Financial Income |
4,628 |
282 |
3,990 |
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Total Financial Expenses |
211,879 |
157,160 |
249,164 |
|
Results on Ordinary Operations Before Tax |
-24,723 |
53,450 |
34,447 |
|
Taxation |
428 |
21,271 |
12,527 |
|
Results on Ordinary Operations After Tax |
-25,151 |
32,179 |
21,920 |
|
Extraordinary Items |
0 |
0 |
0 |
|
Net Result |
-25,151 |
32,179 |
21,920 |
|
Other Information |
|||
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Dividends |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
|
Employee Costs |
100,328 |
122,987 |
116,322 |
|
- Wages & Salaries |
82,365 |
102,746 |
95,413 |
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- Employee Pension Costs |
- |
- |
- |
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- Social Security Contributions |
15,845 |
18,443 |
18,840 |
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- Other Employee Costs |
2,118 |
1,798 |
2,069 |
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Amortization & Depreciation |
28,845 |
21,415 |
35,062 |
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Balance Sheet |
|||
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Intangible Fixed Assets |
4,000 |
8,000 |
12,000 |
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Tangible Fixed Assets |
56,901 |
41,317 |
55,980 |
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- Land And Buildings |
0 |
0 |
0 |
|
- Plant And Machinery |
6,915 |
11,331 |
17,740 |
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- Other Tangible Assets |
49,986 |
29,986 |
38,240 |
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Financial Fixed Assets |
20,294 |
19,237 |
18,626 |
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Total Fixed Assets |
81,195 |
68,554 |
86,606 |
|
Inventories |
3,994,345 |
4,109,936 |
4,287,372 |
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- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
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- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
3,994,345 |
4,109,936 |
4,287,372 |
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Trade Debtors |
1,119,600 |
1,216,916 |
803,521 |
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Cash |
9,704 |
23,788 |
56,924 |
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- Miscellaneous Current Assets |
70,069 |
70,060 |
70,324 |
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Total Current Assets |
5,398,456 |
5,448,838 |
5,218,141 |
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Current Liabilities |
|||
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- Trade Creditors |
591,988 |
771,860 |
627,497 |
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- Short Term Group Loans |
0 |
0 |
0 |
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- Other Short Term Loans |
4,698,909 |
4,497,144 |
4,488,873 |
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- Miscellaneous Current Liabilities |
53,991 |
119,188 |
63,401 |
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Total Current Liabilities |
5,344,888 |
5,388,192 |
5,179,771 |
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Long Term Debts |
|||
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- Long Term Group Loans |
0 |
0 |
0 |
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- Other Long Term Loans |
25,444 |
0 |
0 |
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- Other Long Term Liabilities |
10,970 |
5,700 |
33,654 |
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Total Long Term Debts |
36,414 |
5,700 |
33,654 |
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Shareholders Equity |
|||
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- Issued Share Capital |
18,592 |
18,592 |
18,592 |
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- Share Premium Account |
0 |
0 |
0 |
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- Reserves |
79,757 |
104,909 |
72,730 |
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- Revaluation Reserve |
0 |
0 |
0 |
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Total Shareholders Equity |
98,349 |
123,501 |
91,322 |
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|||
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Working Capital |
53,568 |
60,646 |
38,370 |
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Net Worth |
94,349 |
115,501 |
79,322 |
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Ratio Analysis |
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Trading Performance |
|||
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Results on Ordinary Operations Before Taxation Margin |
-0.98 |
1.71 |
1.91 |
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Return On Capital Employed |
-18.35 |
41.37 |
27.56 |
|
Return On Total Assets Employed |
-0.45 |
0.97 |
0.65 |
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Return On Net Assets Employed |
-46.15 |
88.13 |
89.78 |
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Sales / Net Working Capital |
46.89 |
51.42 |
46.98 |
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Operating Efficiency |
|||
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Stock Turnover Ratio |
159.01 |
131.79 |
237.86 |
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Debtor Days |
162.68 |
142.43 |
162.71 |
|
Creditor Days |
92.76 |
96.87 |
150.40 |
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Short Term Stability |
|||
|
Current Ratio |
1.01 |
1.01 |
1.01 |
|
Liquidity Ratio / Acid Ratio |
0.26 |
0.25 |
0.18 |
|
Current Debt Ratio |
54.35 |
43.63 |
56.72 |
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Long Term Stability |
|||
|
Gearing |
4803.66 |
3641.38 |
4915.43 |
|
Equity In Percentage |
0.02 |
0.02 |
0.02 |
|
Total Debt Ratio |
48.04 |
36.41 |
49.15 |
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 |
-- |
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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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-- |
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Directors |
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Company Director |
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Full Name |
SWATI MAHENDRABHAI PARIKH |
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Birth Date |
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Position Description |
Manager |
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Address |
90 DESGUINLEI ANTWERPEN |
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Country |
-- |
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Postal Code |
2018 |
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Birth Date |
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Company Director |
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Full Name |
AJIT SHANTILAL MEHTA |
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Birth Date |
|
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Position Description |
Manager |
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Address |
90 DESGUINLEI 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.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.