MIRA
INFORM REPORT
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Report Date : |
27.09.2011 |
IDENTIFICATION DETAILS
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Name : |
PARAS GEMS |
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Registered Office : |
Hoveniersstraat 2 B.563 Antwerpen, 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1982 |
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Com. Reg. No.: |
424588695 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale of other intermediate products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Belgium |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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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 name and address
Paras Gems
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Business
Description
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Wholesale of other intermediate products |
Industry
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Industry |
Retail (Department and Discount) |
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ANZSIC 2006: |
373 - Furniture, Floor Covering and Other
Goods Wholesaling |
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NACE 2002: |
5156 - Wholesale of other intermediate
products |
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NAICS 2002: |
4239 - Miscellaneous Durable Goods
Merchant Wholesalers |
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UK SIC 2003: |
5156 - Wholesale of other intermediate
products |
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US SIC 1987: |
509 - Miscellaneous Durable Goods |
Key Executives
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
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Executives Report
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Annual Profit & Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Turnover |
62.7 |
42.3 |
41.4 |
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Other Operating Income |
0.0 |
- |
- |
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Operating Income |
62.7 |
42.3 |
41.4 |
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Purchases |
60.2 |
41.4 |
40.2 |
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Increase or Decrease
in Stocks |
1.0 |
0.1 |
-0.4 |
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Raw Materials, Consumables, and Goods for
Release |
61.3 |
41.5 |
39.9 |
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Services and Sundry Goods |
0.2 |
0.3 |
0.3 |
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Remuneration, Social Security Charges, and
Pensions |
0.1 |
0.1 |
0.1 |
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Depreciation of and Other Amounts Written Off
of Formation Expense, Intangible and Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
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Increase or Decrease in Amounts Written Off
Stocks, Orders, and Trade Debtors |
0.0 |
- |
0.1 |
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Other Operating Charges |
0.0 |
0.0 |
0.0 |
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Operating Charges |
61.6 |
41.8 |
40.3 |
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Income From Financial Fixed Assets |
0.0 |
- |
- |
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Income From Current Assets |
0.0 |
0.1 |
0.1 |
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Other Financial Income |
2.3 |
1.5 |
1.3 |
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Financial Income |
2.3 |
1.6 |
1.3 |
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Interest and Other Debt Charges |
0.4 |
0.3 |
0.6 |
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Other Financial Charges |
2.8 |
1.5 |
1.7 |
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Financial Charges |
3.2 |
1.8 |
2.3 |
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Income Taxes |
0.0 |
0.0 |
- |
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Adjustment of Income Taxes and Write-Back of
Tax Provisions |
- |
- |
0.0 |
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Income Taxes |
0.0 |
0.0 |
0.0 |
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To the Legal Reserve |
- |
0.2 |
0.0 |
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To Other Reserves |
0.2 |
0.0 |
0.1 |
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Transfers to Capital and Reserves |
0.2 |
0.2 |
0.1 |
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Administrators or
Managers |
- |
0.1 |
- |
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Profit to be Distributed |
- |
0.1 |
- |
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Employees |
2 |
2 |
2 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Land & Buildings |
0.1 |
0.1 |
0.1 |
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Plant, Machinery, and
Equipment |
0.0 |
0.0 |
0.0 |
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Furniture and Vehicles |
0.0 |
0.0 |
0.0 |
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Tangible Assets |
0.1 |
0.1 |
0.2 |
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Participating
Interests |
0.4 |
- |
- |
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Amounts Receivable |
0.2 |
- |
- |
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Affiliated Enterprises |
0.7 |
- |
- |
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Amounts Receivable and
Cash Guarantees |
0.0 |
0.0 |
0.0 |
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Other Capital Assets |
0.0 |
0.0 |
0.0 |
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Capital Assets |
0.7 |
0.0 |
0.0 |
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Fixed Assets |
0.8 |
0.1 |
0.2 |
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Other Amounts
Receivable |
- |
0.2 |
0.2 |
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Amounts Receivable After More Than One Year |
- |
0.2 |
0.2 |
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Raw Materials and
Consumables |
1.4 |
1.7 |
1.4 |
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Goods Purchased for
Resale |
2.8 |
3.9 |
4.2 |
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Stocks |
4.2 |
5.7 |
5.5 |
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Inventory and Orders in Progress |
4.2 |
5.7 |
5.5 |
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Trade Debtors |
20.3 |
12.0 |
10.4 |
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Other Amounts
Receivable |
0.1 |
0.5 |
0.4 |
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Amounts Receivable Within One Year |
20.4 |
12.5 |
10.9 |
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Liquid Assets |
3.1 |
0.0 |
0.0 |
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Adjustment Accounts |
0.1 |
0.1 |
0.1 |
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Current Assets |
27.7 |
18.5 |
16.7 |
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Total Assets |
28.5 |
18.6 |
16.8 |
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Issued Capital |
2.6 |
2.8 |
2.7 |
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Capital |
2.6 |
2.8 |
2.7 |
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Legal Reserve |
0.3 |
0.3 |
0.1 |
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Untaxed Reserves |
0.2 |
0.2 |
0.2 |
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Reserves Available for
Distribution |
1.0 |
0.9 |
0.8 |
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Reserves |
1.4 |
1.4 |
1.1 |
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Capital and Reserves |
4.0 |
4.1 |
3.8 |
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Credit Institutions |
0.0 |
0.0 |
0.1 |
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Financial Debts |
0.0 |
0.0 |
0.1 |
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Amounts Due After More Than One Year |
0.0 |
0.0 |
0.1 |
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Current Portion of
Amounts Payable After More Than One Year |
0.0 |
0.0 |
- |
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Credit Institutions |
9.3 |
7.5 |
7.3 |
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Financial Debts |
9.3 |
7.5 |
7.3 |
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Suppliers |
14.6 |
6.8 |
5.6 |
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Trade Debts |
14.6 |
6.8 |
5.6 |
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Advances Received on
Orders in Progress |
0.5 |
- |
- |
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Taxes |
0.0 |
0.0 |
- |
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Remuneration and
Social Security |
0.0 |
0.0 |
0.0 |
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Taxes, Wages, and
Social Security |
0.0 |
0.0 |
0.0 |
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Other Amounts Payable |
0.0 |
0.1 |
- |
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Amounts Payable Within One Year |
24.5 |
14.5 |
12.9 |
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Creditors |
24.5 |
14.5 |
13.0 |
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Total Liabilities + Shareholders' Equity |
28.5 |
18.6 |
16.8 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.62 |
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|
1 |
Rs.76.68 |
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Euro |
1 |
Rs.66.47 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.