MIRA INFORM REPORT
|
Report Date : |
05.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
R. STEINMETZ AND SONS NV |
|
|
|
|
Registered Office : |
Schupstraat 17 Antwerpen 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
07.12.1977 |
|
|
|
|
Com. Reg. No.: |
418101870 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
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 : |
Good |
|
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) |
|
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
|
Company Summary |
|
|
Business Name |
R. STEINMETZ AND SONS NV |
|
Business Number |
418101870 |
|
Address |
SCHUPSTRAAT 17 ANTWERPEN |
|
Post Code |
2018 |
|
Telephone |
032343366 |
|
Fax Number |
032340351 |
|
Date of Establishment |
07/12/1977 |
|
Number of Employees |
8 |
Company Information
|
company details |
|
|
Business Number |
418101870 |
|
Name |
R. STEINMETZ AND SONS NV |
|
Fax Number |
032340351 |
|
Establishment Date |
07/12/1977 |
|
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 |
-- |
|
House Number |
|
|
City |
-- |
|
Postal Code |
|
|
Trade Registered Number |
|
|
Trade Registered Entry
Date |
// |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
// |
|
Latest Event |
|
|
Serial Number |
89839 |
|
Event Description |
Reappointment
commissioner |
DIRECTORS/MANAGEMENT
Directors
|
Company Director |
|
|
Full Name |
FRANCK JOSEPH BOUAZIZ |
|
Position |
Managing director |
|
Address |
10 MEZENLAAN WILRIJK
(ANTW.) |
|
Postal Code |
2610 |
|
Country |
-- |
|
Company Director |
|
|
Full Name |
STIMO NV |
|
Position |
Director |
|
Address |
17 SCHUPSTRAAT ANTWERPEN |
|
Postal Code |
2018 |
|
Country |
-- |
NEGATIVE INFORMATION
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
Payment Expectations
|
Payment Expectations |
|
|
Payment Expectation Days |
23.49 |
|
Day Sales Outstanding |
43.42 |
|
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 |
|
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 |
STEINMETZ-ASCOT DIAMONDS
NV |
|
Business Number |
450354172 |
|
Share Percentage |
20 |
|
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 |
120,287,203 |
15.2% |
104,404,005 |
-37.4% |
166,766,271 |
|
Total Operating Expenses |
120,047,117 |
15.5% |
103,959,318 |
-37.3% |
165,679,973 |
|
Operating Result |
240,086 |
-46.0% |
444,687 |
-59.1% |
1,086,298 |
|
Total Financial Income |
29,562 |
-67.2% |
90,015 |
-26.2% |
121,919 |
|
Total Financial Expenses |
187,885 |
-50.5% |
379,909 |
-59.6% |
940,248 |
|
Results on Ordinary
Operations Before Tax |
81,763 |
-33.1% |
122,288 |
-54.4% |
267,969 |
|
Taxation |
4,900 |
-96.8% |
151,151 |
99.6% |
75,740 |
|
Results on Ordinary
Operations After Tax |
76,863 |
366.3% |
-28,863 |
-115.0% |
192,229 |
|
Extraordinary Items |
6,237 |
364.1% |
-2,362 |
- |
0 |
|
Net Result |
83,100 |
366.1% |
-31,225 |
-116.2% |
192,229 |
|
Other Information |
|||||
|
Dividends |
- |
- |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
- |
- |
|
Employee Costs |
458,178 |
-15.7% |
543,770 |
-20.2% |
681,352 |
|
- Wages & Salaries |
356,427 |
-15.7% |
422,659 |
-19.7% |
526,404 |
|
- Social Security
Contributions |
95,871 |
-17.1% |
115,693 |
-20.4% |
145,360 |
|
- Other Employee Costs |
5,880 |
8.5% |
5,418 |
-43.5% |
9,588 |
|
Amortization &
Depreciation |
56,143 |
-13.2% |
64,665 |
-10.5% |
72,275 |
|
Balance Sheet |
|||||
|
Accounts End Date |
31/12/2009 |
% |
31/12/2008 |
% |
31/12/2007 |
|
Weeks |
52 |
- |
52 |
- |
52 |
|
Intangible Fixed Assets |
0 |
- |
0 |
- |
0 |
|
Tangible Fixed Assets |
142,596 |
-24.3% |
188,482 |
-28.0% |
261,644 |
|
- Land And Buildings |
8,958 |
-7.0% |
9,630 |
-6.5% |
10,303 |
|
- Plant And Machinery |
103,527 |
-23.5% |
135,279 |
-24.3% |
178,594 |
|
- Other Tangible Assets |
30,111 |
-30.9% |
43,573 |
-40.1% |
72,747 |
|
Financial Fixed Assets |
98,863 |
-0.1% |
98,963 |
6.7% |
92,765 |
|
Total Fixed Assets |
241,459 |
-16.0% |
287,445 |
-18.9% |
354,409 |
|
Inventories |
|||||
|
- Raw Materials &
Consumables |
0 |
- |
0 |
- |
0 |
|
- Work in Progress |
0 |
- |
0 |
- |
0 |
|
- Finished Goods |
0 |
- |
0 |
- |
0 |
|
- Other Stocks |
5,532,791 |
-58.8% |
13,429,601 |
24.8% |
10,756,809 |
|
Trade Debtors |
14,308,397 |
143.2% |
5,884,381 |
-51.6% |
12,164,412 |
|
Cash |
169 |
-99.9% |
149,611 |
26,240.0% |
568 |
|
- Miscellaneous Current
Assets |
62,267 |
323.9% |
14,690 |
67.7% |
8,761 |
|
Total Current Assets |
20,550,444 |
3.0% |
19,944,094 |
-15.3% |
23,560,154 |
|
|
|||||
|
- Trade Creditors |
7,726,915 |
-57.2% |
18,064,089 |
2.7% |
17,595,814 |
|
- Short Term Group Loans |
0 |
-100.0% |
18,052,101 |
- |
0 |
|
- Other Short Term Loans |
10,814,386 |
1,295,036.0% |
835 |
-100.0% |
4,082,387 |
|
- Miscellaneous Current
Liabilities |
87,707 |
100.5% |
-17,965,932 |
-14,956.6% |
120,929 |
|
Total Current
Liabilities |
18,629,008 |
2.6% |
18,151,093 |
-16.7% |
21,799,130 |
|
|
|||||
|
- Long Term Group Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term Loans |
0 |
- |
0 |
- |
0 |
|
- Other Long Term
Liabilities |
781 |
-45.5% |
1,432 |
-72.4% |
5,194 |
|
Total Long Term Debts |
781 |
-45.5% |
1,432 |
-72.4% |
5,194 |
|
|
|||||
|
- Issued Share Capital |
500,000 |
0.0% |
500,000 |
0.0% |
500,000 |
|
- Share Premium Account |
0 |
- |
0 |
- |
0 |
|
- Reserves |
1,662,114 |
5.3% |
1,579,014 |
-1.9% |
1,610,239 |
|
- Revaluation Reserve |
0 |
- |
0 |
- |
0 |
|
Total Shareholders
Equity |
2,162,114 |
4.0% |
2,079,014 |
-1.5% |
2,110,239 |
|
|
|||||
|
Working Capital |
1,921,436 |
7.2% |
1,793,001 |
1.8% |
1,761,024 |
|
Net Worth |
2,162,114 |
4.0% |
2,079,014 |
-1.5% |
2,110,239 |
|
Ratio Analysis |
||||||
|
Trading
Performance |
||||||
|
Pre-tax Profit Margin |
0.07 |
-41.7% |
0.12 |
-25.0% |
0.16 |
|
|
Return On Capital
Employed |
3.78 |
-35.7% |
5.88 |
-53.6% |
12.67 |
|
|
Return On Total Assets
Employed |
0.39 |
-35.0% |
0.60 |
-46.4% |
1.12 |
|
|
Return On Net Assets
Employed |
4.26 |
-37.5% |
6.82 |
-55.2% |
15.22 |
|
|
Sales / Net Working
Capital |
62.60 |
7.5% |
58.23 |
-38.5% |
94.70 |
|
|
Operating
Efficiency |
|
|||||
|
Stock Turnover Ratio |
4.60 |
-64.2% |
12.86 |
99.4% |
6.45 |
|
|
Debtor Days |
43.42 |
111.1% |
20.57 |
-22.7% |
26.62 |
|
|
Creditor Days |
23.49 |
-63.0% |
63.42 |
63.6% |
38.76 |
|
|
Short Term
Stability |
|
|||||
|
Current Ratio |
1.10 |
0.0% |
1.10 |
1.9% |
1.08 |
|
|
Liquidity Ratio / Acid
Ratio |
0.81 |
125.0% |
0.36 |
-39.0% |
0.59 |
|
|
Current Debt Ratio |
8.62 |
-1.3% |
8.73 |
-15.5% |
10.33 |
|
|
Long Term
Stability |
|
|||||
|
Gearing |
500.18 |
-42.4% |
868.34 |
348.8% |
193.46 |
|
|
Equity In Percentage |
0.10 |
0.0% |
0.10 |
11.1% |
0.09 |
|
|
Total Debt Ratio |
5.00 |
-42.4% |
8.68 |
349.7% |
1.93 |
|
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
|
Activity Code |
46761 |
|
Activity Description |
Wholesale of diamonds and other precious
stones |
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
|
UK Pound |
1 |
Rs.73.42 |
|
Euro |
1 |
Rs.66.04 |
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.