MIRA INFORM REPORT

Report Date :

27.02.2012

IDENTIFICATION DETAILS

Name :	GEMINI CORPORATION NV

Registered Office :	Waterwilgweg 6 Antwerpen, Post code 2050

Country :	Belgium

Financials (as on) :	31.12.2010

Date of Incorporation :	22.09.1989

Com. Reg. No.:	438488597

Legal Form :	Public Limited Liability Company (BE)

Line of Business :	Wholesale of waste and scrap

No. of Employees :	20

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	475.000 Eur
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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Belgium

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

REGISTERED NAME & COMPANY SUMMARY

Business number	438488597	Company name	GEMINI CORPORATION NV
Safe number	BE00219635	Telephone number	032194267
Address	WATERWILGWEG 6 ANTWERPEN	Fax number	032540428
Post code	2050	Number of staff	20
Date of establishment	22/09/1989
Business number	438488597	Company name	GEMINI CORPORATION NV
Fax number	032540428	Date founded	22/09/1989
Company status	active	Company type	Public Limited Liability Company (BE)
Currency	Euro (€)	Date of latest accounts	31/12/2010
Activity code	46779	liable for VAT	yes
Activity description	Wholesale of waste and scrap, n.e.c.	VAT Number	BE.0438.488.597
Belgian Bullettin of Acts Publications	moniteur belge

CREDIT RECOMENDATION

Current Credit Limit: 475.000 Eur

DIRECTORS/MANAGEMENT

Current director details

Name	RAM KRISHAN PRAJAPATI
Position	Director
Street	75 JAN BAPTIST TASSYNSSTRAAT ZWIJNDRECHT
Post code	2070
Country	Belgium
Name	VED PRAKASH LATA
Position	Director
Street	8 WALTER VAESSTRAAT ANTWERPEN
Post code	2050
Country	Belgium

Name	SURENDRA KUMAR BORAD
Position	Director
Street	3 ESMOREITLAAN ANTWERPEN
Post code	2050
Country	Belgium
Name	SURENDRA KUMAR BORAD
Position	Chairman of the Board
Street	3 ESMOREITLAAN ANTWERPEN
Post code	2050
Country	Belgium

Former director details

Name	SHASHI PRAKASH BHANSALI
Position	Director
Street	5 ESMOREITLAAN ANTWERPEN
Post code	2050
Country	Belgium
Name	KUMAR SURANA RAKESH
Position	Director
Street	3 EDMOND DE COUSSEMAKERSTRAAT ANTWERPEN
Post code	2050
Country	Belgium

Name	DINESH P. HINDOCHA
Position	Director
Street	23 DEVANA ROAD LEICESTER
Post code
Country	United Kingdom

NEGATIVE INFORMATION

Court data summary

Bankruptcy details
Court action type	no
Protested bills
Bill amount	-
NSSO details
Date of summons	-

Contractor details

Registered contractor number	-
Contractor description	-
Date struck off register

Personnel limit NSSO

Code	-
Description	-

Joint Industrial Committee (JIC)

JIC Code	226
Description	JC employees international trade, transport & related activities
category

Protested bills

Drawee name	-
Address	-
Bill amount	-
Bill currency	-
Maturity of bill	-
Name of drawer	-
City of drawer	-

NSSO details

Business number	438488597
Name of defendant	-
Legal form of defendant	-
Date of summons	-
Labour court	-

Bankruptcy details

There is no bankruptcy data against this company

court data

there is no data for this company

SHARE & SHARE CAPITAL INFORMATION

Minority Shareholders

No minority shareholders found

PAYMENT INFORMATION

Payment expectations

Past payments		Payment expectation days	7.14
Industry average payment expectation days	63.79	Industry average day sales outstanding	56.97
Day sales outstanding	11.17

Export accounts to CSV file

comparison mode

average

median

Suspension of payments / moratorium history

Amount	-
Details	-

Payment expectations

Payment expectation days	7.14
Day sales outstanding	11.17

Industry comparison

Activity code	46779
Activity description	Wholesale of waste and scrap, n.e.c.
Industry average payment expectation days	63.79
Industry average day sales outstanding	56.97

Industry quartile analysis

Payment expectations		View graph
Company result		7.14
Lower	63.63
Median	31.02
Upper	14.85
Day sales outstanding	View graph
Company result	11.17
Lower	59.42
Median	33.02
Upper	19.43

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate holding company

Safe number	Company name		Company Number
-	-		-

Summary

Group - Number of Companies	0
Linkages - Number of Companies	0
Number of Countries	0

Group Structure

No group structure for this company.

FINANCIAL INFORMATION

Accounts & ratios

Date of latest accounts	Turnover	Profit Before Tax	Net worth
31/12/2010	88,280,195	888,119	4,486,866
31/12/2009	67,236,584	1,435,356	3,879,026
31/12/2008	67,885,496	864,306	2,421,102

Accounts & ratios

Date of latest accounts	Balance Total	Investments	Capital	Cash Flow	Number of Employees
31/12/2010	6,732,725	3,258	829,000	7,726	20
31/12/2009	7,150,161	6,058	829,000	3,132	17
31/12/2008	4,424,337	5,436	829,000	3,247	14

Profit & loss

Annual accounts	31-12-2010	%	31-12-2009	%	31-12-2008	Industry average 2010	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	88,280,195	31.30	67,236,584	-0.96	67,885,496	27,644,553	219
Total operating expenses	86,843,187	32.83	65,379,889	-2.32	66,929,662	27,078,695	220
Operating result	1,437,008	-22.60	1,856,695	94.25	955,834	180,572	695
Total financial income	184,547	-9.98	205,013	-40.66	345,470	50,687	264
Total financial expenses	733,436	17.10	626,353	43.33	436,998	109,419	570
Results on ordinary operations before taxation	888,119	-38.13	1,435,356	66.07	864,306	112,895	686
Taxation	280,279	-34.61	428,635	62.24	264,193	36,195	674
Results on ordinary operations after taxation	607,840	-39.62	1,006,721	67.76	600,113	83,087	631
Extraordinary items	0	-	0	0	-63,890	-14,843	0
Other appropriations	0	-	0	-	0	-	-
Net result	607,840	-39.62	1,006,721	87.74	536,223	68,244	790
other information
Dividends	-	-	-	-	-	45,000	-
Director remuneration	-	-	-	-	-	-	-
Employee costs	1,073,996	17.39	914,873	33.73	684,139	586,044	83.26
Wages and salary	813,884	17.12	694,922	-	-	395,582	105
Employee pension costs	-	-	-	-	-	-	-
Social security contributions	220,630	13.55	194,302	-	-	137,966	59.92
Other employee costs	39,482	53.93	25,650	-	0	33,968	16.23
Amortization and depreciation	161,311	70.57	94,569	32.83	71,194	96,755	66.72

balance sheet

Annual accounts		31-12-2010		%		31-12-2009		%		31-12-2008		Industry average 2010		%
Weeks		52				52				52
Currency		EUR				EUR				EUR
Intangible fixed assets		0		-		0		-		0		14,788		-100
Tangible fixed assets		1,411,422		13.76		1,240,652		86.39		665,610		700,984		101
Land & building		1,046,241		5.40		992,601		79.89		551,788		660,105		58.50
Plant & machinery		-		-		-		-		-		148,987		-
Other tangible assets		365,181		47.22		248,051		117		113,822		88,625		312
Financial fixed assets		3,258		-46.22		6,058		11.44		5,436		89,563		-96.36
Total fixed assets		1,414,680		13.47		1,246,710		85.79		671,046		767,075		84.43
Inventories		1,876,936		45.24		1,292,311		88.73		684,754		453,229		314
Raw materials & consumables		-		-		-		-		-		478,444		-
Work in progress		0		-		0		-		0		55,322		-100
Finished goods	1,876,936		45.24		1,292,311		-		0		157,989		1088
Other stocks	0		-		0		-100		684,754		50,327		-100
Trade debtors	2,701,592		-29.45		3,829,525		30.47		2,935,132		751,110		259
Cash	7,726		146		3,132		-3.54		3,247		111,858		-93.09
other amounts receivable	191,403		-21.75		244,619		173		89,382		49,077		290
Miscellaneous current assets	540,388		1.22		533,864		1209		40,776		36,064		1398
Total current assets	5,318,045		-9.92		5,903,451		57.29		3,753,291		1,268,035		319
current liabilities
Trade creditors	1,699,449		-39.05		2,788,421		113		1,307,286		555,534		205
Short term group loans	-		-		-		-		-		-		-
Other short term loans	134,555		-48.07		259,106		-50.95		528,264		191,098		-29.59
Miscellaneous current liabilities	411,855		84.19		223,608		33.35		167,685		107		- -
Total current liabilities	2,245,859		-31.34		3,271,135		63.29		2,003,235		912,295		146
Long term debts
Long term group loans	-		-		-		-		-		-		- -
Other long term loans	-		-		-		-		-		-		- -
Other long term liabilities	0		-		0		-		0		74,652		-100
Total long term debts	0		-		0		-		0		327,226		-100
shareholders equity
Issued share capital	829,000		0		829,000		0		829,000		432,213		91.80
Share premium account	-		-		-		-		-		-		-
Reserves	3,206,663		23.39		2,598,823		63.23		1,592,102		194,653		1547
Revaluation reserve	451,203		0		451,203		-		-		1,050,602		-57.05
Total shareholders equity	4,486,866		15.67		3,879,026		60.22		2,421,102		750,466		497
Working capital	3,072,186		16.71		2,632,316		50.41		1,750,056		355,740		763
Net worth	4,486,866		15.67		3,879,026		60.22		2,421,102		735,679		509
back to top

Ratio Analysis

Annual accounts	31-12-2010	change(%)	31-12-2009	change(%)	31-12-2008	Industry average 2010	%
Trading performance
Profit Before Tax	1.01	-52.58	2.13	67.72	1.27	6,00	-83.17
Return on capital employed	19.79	-46.51	37	3.64	35.70	-1,00	1979
Return on total assets employed	13.19	-34.28	20.07	2.71	19.54	5,00	163
Return on net assets employed	19.79	-46.51	37	3.64	35.70	38,00	-47.92
Sales / net working capital	28.74	12.53	25.54	-34.16	38.79	4,00	-99
Stock turnover ratio	2.13	10.94	1.92	90.10	1.01	6,00	-64.50
Debtor days	11.17	-46.27	20.79	31.75	15.78	71,00	-84.27
Creditor days	7.14	-54.14	15.57	118	7.13	43,00	-83.40
short term stability
Current ratio	2.37	31.67	1.80	-3.74	1.87	10,00	137
Liquidity ratio / acid ratio	1.53	8.51	1.41	-7.84	1.53	9,00	-83.00
Current debt ratio	0.50	-40.48	0.84	1.20	0.83	1,00	-50.00
Liquidity ratio reprocessed	-	-	-	-	-	-	-
long term stability
Gearing	3	-55.09	6.68	-69.39	21.82	135,00	-97.78
Equity in percentage	66.64	22.84	54.25	-0.86	54.72	48,00	38.83
Total debt ratio	0.50	-40.48	0.84	1.20	0.83	1,00	-50.00

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

Trends

Profitability
Liquidity
Net worth

Significant Events

Event Date	30/03/2009
Event Description	re-appointment of director(s)
Event Details	Commentaar 30-03-2009: Herbenoeming voorzitter van de raad van bestuur tot de jaarvergadering van 2013: Surendra Kumar Borad.

Limit History

no limit history data found

Industry comparison

Activity code	46779
Activity description	Wholesale of waste and scrap, n.e.c.
Industry average credit limit	28540.98

Minority Interests

No minority interests found

Companies that match this address

Business number	Company name	Date of accounts
416702793	VARIAN CHROMPACK BELGIUM BVBA	02/10/1998
463701471	EMOND BVBA	31/03/2011

NOTES & COMMENTS

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.07
UK Pound	1	Rs.77.19
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%)

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.