MIRA INFORM
REPORT
|
Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
BLUE GEMS NV |
|
|
|
|
Registered Office : |
30, Hoveniersstraat, Antwerpen |
|
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|
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Country : |
|
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|
|
|
Financials (as on) : |
31.12.2009 |
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|
|
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Date of Incorporation : |
17.03.1994 |
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|
|
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Com. Reg. No.: |
452299419 |
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|
|
|
Legal Form : |
Limited Company |
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|
|
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Line of Business : |
Wholesale of diamonds and other precious stones |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Summary
|
company details |
|
|
Company Number |
452299419 |
|
Name |
BLUE GEMS NV |
|
Address |
30, HOVENIERSSTRAAT, ANTWERPEN |
|
Post Code |
2018 |
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Telephone Number |
032260174 |
|
Fax Number |
032262865 |
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Establishment Date |
17-03-1994 |
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Company Status |
ACTIVE |
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Company Type |
Limited company |
|
Number of Employees |
5 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
HOVENIERSSTRAAT |
|
House Number |
9 |
|
City |
ANTWERPEN |
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Postal Code |
2018 |
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Trade Registered Number |
302818 |
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Trade Registered Entry Date |
01-05-1994 |
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Contractor Details |
|
|
Registration Number |
-- |
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Contractor Description |
-- |
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Striking Off Date |
-- |
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Latest Event |
|
|
Serial Number |
128650 |
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Event Description |
Reappointment commissioner |
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Rating and Limit |
|
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Industry Comparison |
|
|
Industry Average Credit Rating |
57.16 |
|
Industry Average Credit Limit (€) |
105,114 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
74.73 |
|
Day Sales Outstanding |
208.74 |
|
Industry Comparison |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
|
Industry Average Day Sales Outstanding |
121.89 |
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Industry Average Payment Expectation Days |
132.10 |
|
Industry Quartile Analysis |
|
|
Payment Expectations - Lower |
39.38 |
|
Payment Expectations - Median |
83.46 |
|
Payment Expectations - Upper |
159.39 |
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|
|
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Day Sales Outstanding - Lower |
30.95 |
|
Day Sales Outstanding - Median |
72.23 |
|
Day Sales Outstanding - Upper |
156.50 |
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Company Shareholder Holding |
|
Company Accounts
|
Period |
|||
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Accounts End Date |
31-12-2009 |
31-12-2008 |
31-12-2007 |
|
Currency |
EUR |
EUR |
EUR |
|
Weeks |
52 |
52 |
52 |
|
Profit & Loss |
|||
|
Turnover |
33,872,423 |
75,997,454 |
77,300,283 |
|
Total Operating Expenses |
31,411,018 |
74,130,417 |
74,331,608 |
|
Operating Result |
2,461,405 |
1,867,037 |
2,968,675 |
|
Total Financial Income |
135 |
335,242 |
390 |
|
Total Financial Expenses |
2,213,450 |
2,069,868 |
2,855,460 |
|
Results on Ordinary Operations Before Tax |
248,090 |
132,411 |
113,606 |
|
Taxation |
20 |
7,316 |
6,490 |
|
Results on Ordinary Operations After Tax |
248,070 |
125,095 |
107,116 |
|
Extraordinary Items |
0 |
1,200 |
0 |
|
Net Result |
248,070 |
126,295 |
107,116 |
|
Other Information |
|||
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Dividends |
- |
- |
- |
|
Director Remuneration |
271,578 |
264,840 |
267,024 |
|
Employee Costs |
297,639 |
150,217 |
114,189 |
|
- Wages & Salaries |
236,729 |
150,060 |
91,484 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
60,761 |
- |
21,887 |
|
- Other Employee Costs |
149 |
157 |
818 |
|
Amortization & Depreciation |
59,185 |
58,587 |
58,999 |
|
Balance Sheet |
|||
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Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
1,215,338 |
1,273,961 |
1,315,768 |
|
- Land And Buildings |
1,166,578 |
1,203,545 |
1,240,511 |
|
- Plant And Machinery |
2,952 |
5,424 |
8,643 |
|
- Other Tangible Assets |
45,808 |
64,992 |
66,614 |
|
Financial Fixed Assets |
69,539 |
71,979 |
124 |
|
Total Fixed Assets |
1,284,877 |
1,345,940 |
1,315,892 |
|
Inventories |
6,913,620 |
5,327,125 |
7,222,600 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
6,913,620 |
5,327,125 |
7,222,600 |
|
Trade Debtors |
19,371,265 |
49,545,652 |
37,383,974 |
|
Cash |
173,201 |
239,418 |
195,240 |
|
- Miscellaneous Current Assets |
6,268 |
5,714 |
7,261 |
|
Total Current Assets |
27,725,548 |
56,500,282 |
46,272,442 |
|
Current Liabilities |
|||
|
- Trade Creditors |
6,431,332 |
18,344,332 |
15,089,041 |
|
- Short Term Group Loans |
0 |
0 |
0 |
|
- Other Short Term Loans |
15,821,759 |
32,785,955 |
20,545,259 |
|
- Miscellaneous Current Liabilities |
-5,196,600 |
-5,205,004 |
199,222 |
|
Total Current Liabilities |
17,056,491 |
45,925,283 |
35,833,522 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
931,312 |
1,030,912 |
1,103,225 |
|
- Other Long Term Liabilities |
4,513 |
119,987 |
7,842 |
|
Total Long Term Debts |
935,825 |
1,150,899 |
1,111,067 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
4,953,000 |
4,953,000 |
4,953,000 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
6,065,109 |
5,817,040 |
5,690,744 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
11,018,109 |
10,770,040 |
10,643,744 |
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|
|||
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Working Capital |
10,669,057 |
10,574,999 |
10,438,920 |
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Net Worth |
11,018,109 |
10,770,040 |
10,643,744 |
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Ratio Analysis |
|||
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Trading Performance |
|||
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Results on Ordinary Operations Before Taxation Margin |
0.73 |
0.17 |
0.15 |
|
Return On Capital Employed |
2.08 |
1.11 |
0.97 |
|
Return On Total Assets Employed |
0.86 |
0.23 |
0.24 |
|
Return On Net Assets Employed |
2.33 |
1.25 |
1.09 |
|
Sales / Net Working Capital |
3.17 |
7.19 |
7.41 |
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Operating Efficiency |
|||
|
Stock Turnover Ratio |
20.41 |
7.01 |
9.34 |
|
Debtor Days |
208.74 |
237.96 |
176.52 |
|
Creditor Days |
74.73 |
90.32 |
74.09 |
|
Short Term Stability |
|||
|
Current Ratio |
1.63 |
1.23 |
1.29 |
|
Liquidity Ratio / Acid Ratio |
1.22 |
1.11 |
1.09 |
|
Current Debt Ratio |
1.55 |
4.26 |
3.37 |
|
Long Term Stability |
|||
|
Gearing |
152.05 |
313.99 |
203.39 |
|
Equity In Percentage |
0.38 |
0.19 |
0.22 |
|
Total Debt Ratio |
1.52 |
3.14 |
2.03 |
Company Court Data
|
Protested Bills |
|
|
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 |
NARESH KUMAR MANEKLA SHAH |
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Birth Date |
|
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Position Description |
Chairman of the board |
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Address |
31 DENNENLAAN WILRIJK (ANTW.) |
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Country |
-- |
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Postal Code |
2610 |
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Birth Date |
2014-01-01 |
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Company Director |
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Full Name |
MITESH NARESH SHAH |
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Birth Date |
|
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Position Description |
Managing director |
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Address |
31 DENNENLAAN WILRIJK (ANTW.) |
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Country |
-- |
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Postal Code |
2610 |
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Birth Date |
2014-01-01 |
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Company Director |
|
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Full Name |
SUREKHABEN NARESCHKU SHAH |
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Birth Date |
|
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Position Description |
Director |
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Address |
31 DENNENLAAN WILRIJK (ANTW.) |
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Country |
-- |
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Postal Code |
2610 |
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Birth Date |
2014-01-01 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
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 |
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.