MIRA INFORM REPORT

Report Date :

02.04.2013

IDENTIFICATION DETAILS

Name :	J.N. DIAMONDS BVBA
Registered Office :	Schupstraat 18 2018 Antwerpen
Country :	Belgium
Financials (as on) :	31.12.2011
Date of Incorporation :	08.07.2010
Com. Reg. No.:	827718717
Legal Form :	Private Limited Company (BL/LX)
LINE OF BUSINESS :	PREPARATION OF DIAMONDS
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Poor
Payment Behaviour :	Slow
Litigation :	Unknown

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 – June 30^th, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
Belgium	A1	A1

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

Belgium - ECONOMIC OVERVIEW

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2011 Belgian GDP grew by 2.0%, the unemployment rate decreased slightly to 7.7% from 8.3% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 4.2% in 2011. Despite the relative improvement in Belgium's budget deficit, public debt hovers near 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian arm of a Franco-Belgian bank. An ageing population and rising social expenditures are mid- to long-term challenges to public finances.

Source : CIA

Company name and Address

J.N. DIAMONDS BVBA

Business number	827718717
Company name	J.N. DIAMONDS BVBA
Address	SCHUPSTRAAT 18
	2018 ANTWERPEN
Number of staff	0
Date of establishment	08/07/2010
Telephone number	-
Fax number	-

Accounts & ratios

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2011		44,423	51,004	51,004

Accounts & ratios

DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2011	-	0	23,182	27,821

Trends

Profitability	-
Liquidity	-
Net worth	-

Payment expectations

Past payments		Payment expectation days	-
Industry average payment expectation days	71.93	Industry average day sales outstanding	102.96
Day sales outstanding	-

Court data summary

BANKRUPTCY DETAILS
Court action type	no
PROTESTED BILLS
Bill amount	-
NSSO DETAILS
Date of summons	-

Business number	827718717	Company name	J.N. DIAMONDS BVBA
Fax number	-	Date founded	08/07/2010
Company status	active	Company type	Private Limited Company (BL/LX)
Currency	Euro (€)	Date of latest accounts	31/12/2011
Activity code	32121	liable for VAT
Activity description	Preparation of diamonds	VAT Number	BE.0827.718.717
Belgian Bullettin of Acts Publications	moniteur belge

Contractor details

Registered contractor number	-
Contractor description	-
Date struck off register

Personnel limit NSSO

Code	-
Description	-

Joint Industrial Committee (JIC)

comparison mode

average

median

Profit & loss

Annual accounts	31-12-2011	%		%		Industry average	%
Weeks	77		-		-
Currency	EUR		-		-
Turnover	-	-	-	-	-	-	-
Total operating expenses	-	-	-	-	-	-	-
Operating result	47,138	-	-	-	-	-	-
Total financial income	1,336	-	-	-	-	-	-
Total financial expenses	4,050	-	-	-	-	-	-
Results on ordinary operations before taxation	44,423	-	-	-	-	-	-
Taxation	16,602	-	-	-	-	-	-
Results on ordinary operations after taxation	27,821	-	-	-	-	-	-
Extraordinary items	0	-	-	-	-	-	-
Other appropriations	0	-	-	-	-	-	-
Net result	27,821	-	-	-	-	-	-
OTHER INFORMATION
Dividends	-	-	-	-	-	-	-
Director remuneration	-	-	-	-	-	-	-
Employee costs	-	-	-	-	-	-	-
Wages and salary	-	-	-	-	-	-	-
Employee pension costs	-	-	-	-	-	-	-
Social security contributions	-	-	-	-	-	-	-
Other employee costs	0	-	-	-	-	-	-
Amortization and depreciation	-	-	-	-	-	-	-

balance sheet

Annual accounts	31-12-2011	%		%		Industry average	%
Weeks	77		-		-
Currency	EUR		-		-
Intangible fixed assets	0	-	-	-	-	-	-
Tangible fixed assets	-	-	-	-	-	-	-
Land & building	-	-	-	-	-	-	-
Plant & machinery	-	-	-	-	-	-	-
Other tangible assets	0	-	-	-	-	-	-
Financial fixed assets	-	-	-	-	-	-	-
Total fixed assets	-	-	-	-	-	-	-
Inventories	883,632	-	-	-	-	-	-
Raw materials & consumables	-	-	-	-	-	-	-
Work in progress	0	-	-	-	-	-	-
Finished goods	0	-	-	-	-	-	-
Other stocks	883,632	-	-	-	-	-	-
Trade debtors	5,110	-	-	-	-	-	-
Cash	724,589	-	-	-	-	-	-
other amounts receivable	696	-	-	-	-	-	-
Miscellaneous current assets	0	-	-	-	-	-	-
Total current assets	1,614,027	-	-	-	-	-	-
CURRENT LIABILITIES
Trade creditors	-	-	-	-	-	-	-
Short term group loans	-	-	-	-	-	-	-
Other short term loans	0	-	-	-	-	-	-
Miscellaneous current liabilities	1,563,023	-	-	-	-	-	- -
Total current liabilities	1,563,023	-	-	-	-	-	-
LONG TERM DEBTS
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	-	-	-	-	-	-	- -
Other long term liabilities	0	-	-	-	-	-	-
Total long term debts	0	-	-	-	-	-	-
SHAREHOLDERS EQUITY
Issued share capital	23,182	-	-	-	-	-	-
Share premium account	-	-	-	-	-	-	-
Reserves	27,822	-	-	-	-	-	-
Revaluation reserve	-	-	-	-	-	-	-
Total shareholders equity	51,004	-	-	-	-	-	-
Working capital	51,004	-	-	-	-	-	-
Cashflow	27,821	-	-	-	-	-	-
Net worth	51,004	-	-	-	-	-	-

ratio analysis

Annual accounts	31-12-2011	change(%)		change(%)		Industry average	%
TRADING PERFORMANCE
Profit Before Tax	-	-	-	-	-	-	-
Return on capital employed	87.10	-	-	-	-	-	-
Return on total assets employed	2.75	-	-	-	-	-	-
Return on net assets employed	87.10	-	-	-	-	-	-
Sales / net working capital	-	-	-	-	-	-	-
Stock turnover ratio	-	-	-	-	-	-	-
Debtor days	-	-	-	-	-	-	-
Creditor days	-	-	-	-	-	-	-
SHORT TERM STABILITY
Current ratio	1.03	-	-	-	-	-	-
Liquidity ratio / acid ratio	0.47	-	-	-	-	-	-
Current debt ratio	30.65	-	-	-	-	-	-
Liquidity ratio reprocessed	-	-	-	-	-	-	-
LONG TERM STABILITY
Gearing	-	-	-	-	-	-	-
Equity in percentage	3.16	-	-	-	-	-	-
Total debt ratio	30.65	-	-	-	-	-	-

Limit History

No limit history data found

Industry comparison

Activity code	32121
Activity description	Preparation of diamonds
industry average credit rating	78.30
Industry average credit limit	9475.63

Suspension of payments / moratorium history

Amount	-
Details	-

Payment expectations

Payment expectation days	-
Day sales outstanding	-

Industry comparison

Activity code	32121
Activity description	Preparation of diamonds
Industry average payment expectation days	71.93
Industry average day sales outstanding	102.96

Industry quartile analysis

Payment expectations
Company result	-
Lower	127.45
Median	66.02
Upper	22.11
Day sales outstanding
Company result	-
Lower	97.57
Median	41.49
Upper	15.43

rating info

Summary

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

Group Structure

No group structure for this company.

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

Protested bills

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

NSSO details

Business number	827718717
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

Current director details

Name	ASHIT VASANTLAL MEHTA
Position	Non Statutory Partner
Start Date	08/07/2010
Date of birth	29/04/1957
Street	19 DELLA FAILLELAAN ANTWERPEN
Post code	2020
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.39
UK Pound	1	Rs.82.32
Euro	1	Rs.69.54

INFORMATION DETAILS

Report Prepared by :

SDA

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.