MIRA INFORM REPORT

Report Date :

23.05.2011

IDENTIFICATION DETAILS

Name :	SHREE DIMON BVBA
Registered Office :	62, Pelikaanstraat, Antwerpen 2018
Country :	Belgium
Financials (as on) :	31.12.2009
Date of Incorporation :	13.06.2003
Com. Reg. No.:	860762954
Legal Form :	Private Limited Liability Company
Line of Business :	Wholesaler of diamonds and other precious stones

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
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 – March 31^st, 2011

Country Name	Previous Rating (31.12.2010)	Current Rating (31.03.2011)
Belgium	a1	a1

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

Company Summary

company details
Company Number	860762954
Name	SHREE DIMON BVBA
Address	62, PELIKAANSTRAAT, ANTWERPEN
Post Code	2018
Telephone Number	032326893
Fax Number	032326893
Establishment Date	13-06-2003
Company Status	ACTIVE
Company Type	Private limited liability company
Number of Employees	0
Activity Description	Wholesale of diamonds and other precious stones
Activity Code	46761
Liable For Vat	yes
Currency	Euro (€)
Latest Branch Details
Street	VESTINGSTRAAT
House Number	74
City	ANTWERPEN
Postal Code	2018
Trade Registered Number	0
Trade Registered Entry Date	01-10-2003
Contractor Details
Registration Number	--
Contractor Description	--
Striking Off Date	--
Latest Event
Serial Number	141584
Event Description	Transfer of registered office
Industry Comparison
Industry Average Credit Limit (€)	133,697
Payment Expectations
Payment Expectations
Payment Expectation Days
Day Sales Outstanding
Industry Comparison
Activity Code	4676
Activity Description	Wholesale of other intermediate products
Industry Average Day Sales Outstanding	124.76
Industry Average Payment Expectation Days	135.39
Industry Quartile Analysis
Payment Expectations - Lower	40.69
Payment Expectations - Median	89.28
Payment Expectations - Upper	161.90
Day Sales Outstanding - Lower	31.71
Day Sales Outstanding - Median	74.99
Day Sales Outstanding - Upper	156.45
Company Shareholder Holding

Company Accounts

Period
Accounts End Date	31-12-2009	31-12-2008	31-12-2007
Currency	EUR	EUR	EUR
Weeks	52	52	52
Profit & Loss
Turnover	-	-	-
Total Operating Expenses	-	-	-
Operating Result	2,222	7,309	-64,768
Total Financial Income	6	70	364,507
Total Financial Expenses	1,425	1,909	292,337
Results on Ordinary Operations Before Tax	803	5,470	7,401
Taxation	544	2,100	2,235
Results on Ordinary Operations After Tax	259	3,370	5,166
Extraordinary Items	0	1,926	0
Net Result	259	5,297	5,166
Other Information
Dividends	-	-	-
Director Remuneration	-	-	-
Employee Costs	0	0	0
- Wages & Salaries	-	-	-
- Employee Pension Costs	-	-	-
- Social Security Contributions	-	-	-
- Other Employee Costs	-	-	-
Amortization & Depreciation	6,461	6,571	6,659
Balance Sheet
Intangible Fixed Assets	0	0	0
Tangible Fixed Assets	6,431	12,893	18,227
- Land And Buildings	0	0	0
- Plant And Machinery	580	1,114	522
- Other Tangible Assets	5,851	11,779	17,705
Financial Fixed Assets	1,559	370	370
Total Fixed Assets	7,990	13,263	18,597
Inventories	421,356	645,807	735,920
- Raw Materials & Consumables	0	0	0
- Work in Progress	0	0	0
- Finished Goods	0	0	0
- Other Stocks	421,356	645,807	735,920
Trade Debtors	450,992	533,530	1,404,681
Cash	100,651	31,152	99,672
- Miscellaneous Current Assets	4,288	3,705	2,340
Total Current Assets	1,021,580	1,236,271	2,244,912
Current Liabilities
- Trade Creditors	487,459	699,968	1,749,151
- Short Term Group Loans	0	0	0
- Other Short Term Loans	4,893	5,072	4,806
- Miscellaneous Current Liabilities	477,547	481,523	446,824
Total Current Liabilities	969,899	1,186,563	2,200,781
Long Term Debts
- Long Term Group Loans	0	0	0
- Other Long Term Loans	0	4,893	9,965
- Other Long Term Liabilities	1,352	18	0
Total Long Term Debts	1,352	4,911	9,965
Shareholders Equity
- Issued Share Capital	18,600	18,600	18,600
- Share Premium Account	0	0	0
- Reserves	39,719	39,460	34,164
- Revaluation Reserve	0	0	0
Total Shareholders Equity	58,319	58,060	52,764
Working Capital	51,681	49,708	44,131
Net Worth	58,319	58,060	52,764
Ratio Analysis
Trading Performance
Results on Ordinary Operations Before Taxation Margin	-	-	-
Return On Capital Employed	1.35	8.69	11.80
Return On Total Assets Employed	0.08	0.44	0.33
Return On Net Assets Employed	1.55	11	16.77
Sales / Net Working Capital	-	-	-
Operating Efficiency
Stock Turnover Ratio	-	-	-
Debtor Days	-	-	-
Creditor Days	-	-	-
Short Term Stability
Current Ratio	1.05	1.04	1.02
Liquidity Ratio / Acid Ratio	0.62	0.50	0.69
Current Debt Ratio	16.63	20.44	41.71
Long Term Stability
Gearing	8.39	17.16	27.99
Equity In Percentage	0.06	0.05	0.02
Total Debt Ratio	0.08	0.17	0.28

Company Court Data

Protested Bills
Drawee Name	--
Drawee Address	--
Bill Amount
Bill Currency	--
Maturity of Bill (month)
Name of Drawer	--
City of Drawer	--
NSSO Details
Name of Defendant	--
Legal Form of Defendant	--
Date of Summons
Labour Court	--
Directors
Company Director
Full Name	SHASHIKANT POPATLAL DEVANI
Birth Date
Position Description	Manager
Address	1 EGLANTIERLAAN ANTWERPEN
Country	--
Postal Code	2020
Birth Date
Company Director
Full Name	MANAN DEVANI
Birth Date
Position Description	Manager
Address	121 PIETER VAN DEN BEMDENLAAN EDEGEM
Country	--
Postal Code	2650
Birth Date

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.93
UK Pound	1	Rs.72.92
Euro	1	Rs.64.34

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%)

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.