MIRA
INFORM REPORT
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Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
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Name : |
SUPERGEMS |
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Registered Office : |
Schupstraat 18-20, Antwerpen, 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
1972 |
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Com. Reg. No.: |
411987308 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesale trade in rough diamonds |
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No. of Employees : |
11 |
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 : |
Slow but correct |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
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.
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Source : CIA |
Company name and address
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Supergems |
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Employees: |
11 |
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Company Type: |
Private
Independent |
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Incorporation
Date: |
1972 |
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Fiscal Year End: |
31-Dec-2011 |
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Reporting
Currency: |
Euro |
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Annual Sales: |
186.0 1 |
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Total Assets: |
70.9 |
Business Description
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Wholesale trade in rough diamonds |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
423940 - Jewelry, Watch, Precious Stone, and Precious
Metal Merchant Wholesalers |
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UK SIC 2003: |
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UK SIC 2007: |
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US SIC 1987: |
5094 - Jewelry, Watches, Precious Stones, and Precious
Metals |
Key Executives
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News
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Registered No.(VAT)
411987308
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR
0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
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More Business
Descriptions |
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Jewelry and Silverware Manufacturing
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ICRA Upgrades Rating on Supergems |
18-Mar-2013 |
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Rating upgraded for bank facilities of Supergems
Jewellery Manufacturing Private Limited to ICRA A4+ |
18-Mar-2013 |
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Annual Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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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) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Turnover |
186.0 |
102.9 |
48.5 |
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Other Operating Income |
0.1 |
0.0 |
0.0 |
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Operating Income |
186.0 |
102.9 |
48.5 |
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Purchases |
177.3 |
102.6 |
45.7 |
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Increase or Decrease in Stocks |
4.7 |
-2.2 |
0.8 |
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Raw Materials, Consumables, and Goods for
Release |
182.0 |
100.4 |
46.5 |
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Services and Sundry Goods |
1.1 |
0.9 |
0.7 |
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Remuneration, Social Security Charges, and
Pensions |
0.6 |
0.5 |
0.6 |
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Depreciation of and Other Amounts Written
Off of Formation Expense, Intangible and Tangible Fixed Assets |
0.1 |
0.1 |
0.1 |
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Increase or Decrease in Amounts Written
Off Stocks, Orders, and Trade Debtors |
- |
- |
0.0 |
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Other Operating Charges |
0.0 |
0.0 |
0.0 |
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Operating
Charges |
183.7 |
101.9 |
47.9 |
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Other Financial Income |
0.1 |
0.0 |
0.0 |
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Financial Income |
0.1 |
0.0 |
0.0 |
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Interest and Other Debt Charges |
1.0 |
0.5 |
0.4 |
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Other Financial Charges |
0.3 |
0.1 |
0.1 |
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Financial
Charges |
1.3 |
0.7 |
0.5 |
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Other Extraordinary Income |
0.0 |
0.0 |
- |
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Extraordinary
Income |
0.0 |
0.0 |
- |
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Amounts Written Off on Financial Fixed
Assets |
- |
0.0 |
- |
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Extraordinary
Charges |
- |
0.0 |
- |
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Income Taxes |
- |
- |
0.0 |
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Income Taxes |
- |
- |
0.0 |
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Employees |
11 |
9 |
11 |
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Annual Balance Sheet |
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Financials in: USD (mil) |
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Land & Buildings |
0.7 |
0.7 |
0.8 |
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Plant, Machinery, and Equipment |
0.1 |
0.1 |
0.1 |
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Furniture and Vehicles |
0.0 |
0.0 |
0.0 |
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Tangible Assets |
0.8 |
0.8 |
0.9 |
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Participating Interests |
0.1 |
0.1 |
0.1 |
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Affiliated Enterprises |
0.1 |
0.1 |
0.1 |
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Shares |
0.1 |
0.1 |
0.1 |
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Amounts Receivable and Cash Guarantees |
0.0 |
0.0 |
0.0 |
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Other Capital Assets |
0.1 |
0.1 |
0.1 |
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Capital Assets |
0.2 |
0.2 |
0.2 |
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Fixed Assets |
1.0 |
1.0 |
1.1 |
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Goods Purchased for Resale |
29.7 |
34.1 |
31.6 |
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Stocks |
29.7 |
34.1 |
31.6 |
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Inventory and
Orders in Progress |
29.7 |
34.1 |
31.6 |
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Trade Debtors |
39.8 |
27.0 |
14.8 |
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Other Amounts Receivable |
0.0 |
0.0 |
0.0 |
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Amounts
Receivable Within One Year |
39.9 |
27.0 |
14.8 |
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Liquid Assets |
0.2 |
0.7 |
0.0 |
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Adjustment
Accounts |
0.0 |
0.0 |
0.0 |
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Current Assets |
69.9 |
61.8 |
46.5 |
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Total Assets |
70.9 |
62.8 |
47.6 |
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Issued Capital |
2.2 |
2.2 |
2.1 |
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Capital |
2.2 |
2.2 |
2.1 |
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Legal Reserve |
0.2 |
0.2 |
0.2 |
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Other |
21.1 |
21.1 |
20.9 |
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Reserves Not Available for Distribution |
21.1 |
21.1 |
20.9 |
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Reserves Available for Distribution |
1.3 |
1.3 |
1.3 |
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Reserves |
22.6 |
22.6 |
22.4 |
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Capital and
Reserves |
31.6 |
30.6 |
30.1 |
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Credit Institutions |
- |
- |
0.0 |
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Financial Debts |
- |
- |
0.0 |
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Amounts Due
After More Than One Year |
- |
- |
0.0 |
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Current Portion of Amounts Payable After
More Than One Year |
- |
0.0 |
0.1 |
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Credit Institutions |
21.9 |
22.6 |
10.1 |
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Financial Debts |
21.9 |
22.6 |
10.1 |
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Suppliers |
17.1 |
9.5 |
7.2 |
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Trade Debts |
17.1 |
9.5 |
7.2 |
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Taxes |
0.0 |
0.0 |
0.0 |
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Remuneration and Social Security |
0.0 |
0.1 |
0.1 |
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Taxes, Wages, and Social Security |
0.1 |
0.1 |
0.1 |
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Other Amounts Payable |
0.1 |
0.1 |
0.1 |
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Amounts Payable
Within One Year |
39.2 |
32.2 |
17.5 |
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Adjustment
Accounts |
0.0 |
0.1 |
0.0 |
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Creditors |
39.2 |
32.2 |
17.6 |
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Total
Liabilities + Shareholders' Equity |
70.9 |
62.8 |
47.6 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.62 |
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1 |
Rs.83.69 |
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Euro |
1 |
Rs.71.41 |
INFORMATION DETAILS
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Report Prepared
by : |
PDT |
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.