MIRA INFORM
REPORT
|
Report Date : |
03.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
GEMASIA BVBA |
|
|
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|
Registered Office : |
53, Hoveniersstraat, Antwerpen 2018 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
12.06.1991 |
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Com. Reg. No.: |
444382041 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesaler 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 : |
Good |
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Payment
Behaviour : |
No Complaints |
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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) |
|
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 |
|
|
Company Number |
444382041 |
|
Name |
GEMASIA BVBA |
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Address |
53, HOVENIERSSTRAAT, ANTWERPEN |
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Post Code |
2018 |
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Telephone Number |
032327580 |
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Fax Number |
032326731 |
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Establishment Date |
12-06-1991 |
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Company Status |
ACTIVE |
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Company Type |
Private limited liability company |
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Number of Employees |
6 |
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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 |
32 |
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City |
ANTWERPEN |
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Postal Code |
2018 |
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Trade Registered Number |
283880 |
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Trade Registered
Entry Date |
01-07-1991 |
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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 |
124262 |
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Event Description |
Appointment commissioner |
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Limit |
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Credit Information |
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Credit Limit (€) |
2,300,000 |
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Purchase Limit (€) |
13,200,000 |
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Industry Comparison |
|
|
Industry Average Credit Limit (€) |
136,473 |
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Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
111.02 |
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Day Sales Outstanding |
142.49 |
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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 |
124.75 |
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Industry Average Payment Expectation Days |
135.41 |
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Industry Quartile Analysis |
|
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Payment Expectations - Lower |
40.69 |
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Payment Expectations - Median |
89.28 |
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Payment Expectations - Upper |
161.90 |
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|
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Day Sales Outstanding - Lower |
31.74 |
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Day Sales Outstanding - Median |
74.91 |
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Day Sales Outstanding - Upper |
156.50 |
Company Shareholder Holding
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Company Accounts |
|||
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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 |
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Weeks |
52 |
52 |
52 |
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Profit & Loss |
|||
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Turnover |
65,842,417 |
91,454,990 |
107,224,068 |
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Total Operating Expenses |
65,340,909 |
90,335,105 |
106,076,252 |
|
Operating Result |
501,508 |
1,119,885 |
1,147,816 |
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Total Financial Income |
3,525 |
4,978 |
4,414 |
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Total Financial Expenses |
416,281 |
976,908 |
1,087,031 |
|
Results on Ordinary Operations Before Tax |
88,752 |
147,955 |
65,199 |
|
Taxation |
48,662 |
48,240 |
15,785 |
|
Results on Ordinary Operations After Tax |
40,090 |
99,715 |
49,414 |
|
Extraordinary Items |
0 |
0 |
2,280 |
|
Net Result |
40,090 |
99,715 |
51,694 |
|
Other Information |
|||
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Dividends |
- |
- |
- |
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Director Remuneration |
120,968 |
- |
- |
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Employee Costs |
254,953 |
253,319 |
254,104 |
|
- Wages & Salaries |
202,693 |
208,307 |
203,530 |
|
- Employee Pension Costs |
- |
- |
- |
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- Social Security Contributions |
48,005 |
40,925 |
46,632 |
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- Other Employee Costs |
4,255 |
4,087 |
3,942 |
|
Amortization & Depreciation |
66,286 |
78,511 |
84,613 |
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Balance Sheet |
|||
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Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
668,020 |
733,501 |
748,027 |
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- Land And Buildings |
604,726 |
637,427 |
685,805 |
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- Plant And Machinery |
7,048 |
9,691 |
12,334 |
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- Other Tangible Assets |
56,246 |
86,383 |
49,888 |
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Financial Fixed Assets |
2,114 |
2,113 |
2,113 |
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Total Fixed Assets |
670,134 |
735,614 |
750,140 |
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Inventories |
21,739,623 |
15,026,197 |
18,139,387 |
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- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
21,739,623 |
15,026,197 |
18,139,387 |
|
Trade Debtors |
25,703,841 |
17,063,743 |
23,258,625 |
|
Cash |
1,284,982 |
92,819 |
137,407 |
|
- Miscellaneous Current Assets |
6,938 |
4,261 |
4,292 |
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Total Current Assets |
48,750,789 |
32,218,243 |
41,554,783 |
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Current Liabilities |
|||
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- Trade Creditors |
19,874,002 |
17,277,965 |
23,576,987 |
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- Short Term Group Loans |
0 |
0 |
0 |
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- Other Short Term Loans |
20,475,635 |
9,482,271 |
12,646,712 |
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- Miscellaneous Current Liabilities |
3,829,171 |
861,140 |
-21,071 |
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Total Current Liabilities |
44,178,808 |
27,621,376 |
36,202,628 |
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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 |
1,823,775 |
1,957,501 |
1,869,254 |
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- Other Long Term Liabilities |
5,067 |
1,797 |
959,573 |
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Total Long Term Debts |
1,828,842 |
1,959,298 |
2,828,827 |
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Shareholders Equity |
|||
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- Issued Share Capital |
3,100,000 |
3,100,000 |
3,100,000 |
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- Share Premium Account |
0 |
0 |
0 |
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- Reserves |
313,273 |
273,183 |
173,468 |
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- Revaluation Reserve |
0 |
0 |
0 |
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Total Shareholders Equity |
3,413,273 |
3,373,183 |
3,273,468 |
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|||
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Working Capital |
4,571,981 |
4,596,867 |
5,352,155 |
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Net Worth |
3,413,273 |
3,373,183 |
3,273,468 |
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Ratio Analysis |
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Trading Performance |
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Results on Ordinary Operations Before Taxation Margin |
0.13 |
0.16 |
0.06 |
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Return On Capital Employed |
1.69 |
2.77 |
1.07 |
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Return On Total Assets Employed |
0.18 |
0.45 |
0.15 |
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Return On Net Assets Employed |
1.94 |
3.22 |
1.22 |
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Sales / Net Working Capital |
14.40 |
19.90 |
20.03 |
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Operating Efficiency |
|||
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Stock Turnover Ratio |
33.02 |
16.43 |
16.92 |
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Debtor Days |
142.49 |
68.10 |
79.17 |
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Creditor Days |
111.02 |
69.81 |
81.13 |
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Short Term Stability |
|||
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Current Ratio |
1.10 |
1.17 |
1.15 |
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Liquidity Ratio / Acid Ratio |
0.61 |
0.62 |
0.65 |
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Current Debt Ratio |
12.94 |
8.19 |
11.06 |
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Long Term Stability |
|||
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Gearing |
653.31 |
339.14 |
443.44 |
|
Equity In Percentage |
0.07 |
0.10 |
0.08 |
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Total Debt Ratio |
6.53 |
3.39 |
4.43 |
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 |
GEMASIA |
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Legal Form of Defendant |
Private limited liability company |
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Date of Summons |
2005-02-01 |
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ANTWERPEN |
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Directors |
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Company Director |
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Full Name |
HIMANSHU A SHAH |
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Birth Date |
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Position Description |
Manager |
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Address |
89 HARROWES MEADE EDGWARE MIDDLESEX |
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Country |
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Postal Code |
0 |
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Birth Date |
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Company Director |
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Full Name |
SAMIR ZAVERI |
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Birth Date |
|
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Position Description |
Manager |
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Address |
33 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.44.33 |
|
|
1 |
Rs.73.89 |
|
Euro |
1 |
Rs.65.57 |
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.