MIRA INFORM REPORT
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Report Date : |
17.05.2013 |
IDENTIFICATION DETAILS
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Name : |
Jayam |
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Registered Office : |
Schupstraat 18-20 B. 9 Antwerpen 2018 |
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Country : |
Belgium |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
1960 |
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Com. Reg. No.: |
404965892 |
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Legal Form : |
Private Independent |
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Line of Business : |
Wholesaler trade in Diamonds and Gemstones. |
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No. of Employees : |
13 |
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 – March 31st, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 1.8%, the unemployment rate decreased slightly to 7.2%
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 and 3.3% in 2012. Fourth quarter
GDP growth in 2012 was at -0.1%, the third consecutive quarter of negative
growth. This brought economic growth for the whole of 2012 to negative 0.2%. It
also left Belgium on the brink of a possible recession at the end of 2012.
However, at year's end, the government appeared close to meeting its 2012 budget
deficit goal of 3% of GDP. Despite the relative improvement in Belgium's budget
deficit, public debt hovers around 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
retail arm of a Franco-Belgian bank.
Source
: CIA
Company Name and address
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Jayam |
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Business Description
Wholesale trade in diamonds and gemstones
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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Name |
Title |
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Mihir Mahendra Mehta |
Managing Director, Shareholders'
Representative |
|
Mahendra Mafatlal Mehta |
Managing Director |
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Marc Auwers |
Accounting Manager |
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Samir Mehta |
Administrator |
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Lucas Alfons Ida Toelen |
Representative/Auditor |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7269425
2 - Balance Sheet
Item Exchange Rate: USD 1 = EUR 0.7534632
Corporate Overview
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ANZSIC 2006 Codes: |
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3732 |
- |
Jewellery and Watch Wholesaling |
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NACE 2002 Codes: |
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5147 |
- |
Wholesale of other household goods |
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NAICS 2002 Codes: |
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423940 |
- |
Jewelry, Watch, Precious Stone, and
Precious Metal Merchant Wholesalers |
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US SIC 1987: |
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5094 |
- |
Jewelry, Watches, Precious Stones, and
Precious Metals |
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UK SIC 2003: |
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51473 |
- |
Wholesale of jewellery |
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UK SIC 2007: |
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4648 |
- |
Wholesale of watches and jewellery |
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More Business Descriptions
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Executives Report
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Executives |
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Managing Director, Shareholders'
Representative |
Managing Director |
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Managing Director |
Managing Director |
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Human Resources, Administration and IT
Manager |
Administration Executive |
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Administrator |
Administration Executive |
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Administrator |
Administration Executive |
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Accounting Manager |
Finance Executive |
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Representative/Auditor |
Accounting Executive |
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Annual Profit & Loss
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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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) |
0.726943 |
0.757168 |
0.70861 |
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Consolidated |
No |
No |
No |
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Turnover |
81.6 |
58.1 |
38.7 |
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Other Operating
Income |
0.1 |
0.0 |
0.1 |
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Operating Income |
81.7 |
58.1 |
38.8 |
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Purchases |
74.5 |
44.9 |
27.3 |
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Increase
or Decrease in Stocks |
2.5 |
10.0 |
7.4 |
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Raw Materials,
Consumables, and Goods for Release |
77.0 |
54.9 |
34.7 |
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Services and
Sundry Goods |
1.1 |
1.2 |
1.3 |
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Remuneration,
Social Security Charges, and Pensions |
0.8 |
0.7 |
0.9 |
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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 |
- |
-0.5 |
- |
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Other Operating
Charges |
0.0 |
0.0 |
0.0 |
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Operating
Charges |
79.0 |
56.4 |
37.0 |
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Income From
Current Assets |
0.0 |
0.0 |
0.0 |
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Other Financial
Income |
0.1 |
0.2 |
0.0 |
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Financial Income |
0.1 |
0.2 |
0.0 |
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Interest and Other
Debt Charges |
1.4 |
1.0 |
1.4 |
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Other Financial
Charges |
0.5 |
0.2 |
0.3 |
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Financial
Charges |
1.8 |
1.2 |
1.6 |
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Gain on Disposal
of Fixed Assets |
0.0 |
0.0 |
- |
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Other
Extraordinary Income |
0.0 |
0.2 |
0.1 |
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Extraordinary
Income |
0.0 |
0.2 |
0.1 |
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Amounts Written Off
on Financial Fixed Assets |
0.0 |
0.0 |
0.0 |
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Loss on Disposal
of Fixed Assets |
0.1 |
0.0 |
- |
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Other
Extraordinary Charges |
0.0 |
0.6 |
- |
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Extraordinary
Charges |
0.1 |
0.6 |
0.0 |
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Income Taxes |
0.2 |
- |
0.0 |
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Income Taxes |
0.2 |
- |
0.0 |
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To
the Legal Reserve |
- |
0.0 |
- |
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Transfers to
Capital and Reserves |
- |
0.0 |
- |
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Employees |
13 |
14 |
14 |
Annual Balance Sheet
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Financials in:
USD (mil) |
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31-Mar-2012 |
31-Mar-2011 |
31-Mar-2010 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.753463 |
0.704672 |
0.739044 |
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Consolidated |
No |
No |
No |
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Plant,
Machinery, and Equipment |
0.1 |
0.1 |
0.0 |
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Furniture
and Vehicles |
0.1 |
0.0 |
0.0 |
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Other
Tangible Assets |
0.5 |
0.3 |
0.3 |
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Tangible
Assets |
0.7 |
0.5 |
0.4 |
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Participating
Interests |
0.1 |
0.3 |
0.3 |
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Affiliated
Enterprises |
0.1 |
0.3 |
0.3 |
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Shares |
0.1 |
0.1 |
0.1 |
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Amounts
Receivable and Cash Guarantees |
0.1 |
0.0 |
0.0 |
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Other
Capital Assets |
0.2 |
0.1 |
0.1 |
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Capital
Assets |
0.3 |
0.4 |
0.4 |
|
Fixed Assets |
1.0 |
0.9 |
0.8 |
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Goods
Purchased for Resale |
26.7 |
29.2 |
40.2 |
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Stocks |
26.7 |
29.2 |
40.2 |
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Inventory
and Orders in Progress |
26.7 |
29.2 |
40.2 |
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Trade
Debtors |
48.5 |
37.5 |
21.1 |
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Other
Amounts Receivable |
6.6 |
5.0 |
0.2 |
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Amounts
Receivable Within One Year |
55.2 |
42.5 |
21.3 |
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Liquid
Assets |
1.7 |
2.2 |
0.6 |
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Adjustment
Accounts |
0.1 |
0.1 |
0.0 |
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Current Assets |
83.7 |
74.0 |
62.1 |
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Total Assets |
84.7 |
74.9 |
62.9 |
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Issued
Capital |
23.5 |
23.6 |
23.7 |
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Capital
|
23.5 |
23.6 |
23.7 |
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Legal
Reserve |
0.1 |
0.1 |
0.1 |
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Untaxed
Reserves |
0.0 |
0.0 |
0.0 |
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Reserves
Available for Distribution |
2.8 |
2.8 |
2.8 |
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Reserves |
2.9 |
2.9 |
2.9 |
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Capital and
Reserves |
13.2 |
12.6 |
12.4 |
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Other
Loans |
21.3 |
22.6 |
22.7 |
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Financial
Debts |
21.3 |
22.6 |
22.7 |
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Amounts
Due After More Than One Year |
21.3 |
22.6 |
22.7 |
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Credit
Institutions |
27.6 |
28.9 |
22.2 |
|
Financial
Debts |
27.6 |
28.9 |
22.2 |
|
Suppliers |
20.4 |
10.4 |
5.2 |
|
Trade
Debts |
20.4 |
10.4 |
5.2 |
|
Taxes |
0.2 |
- |
- |
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Remuneration
and Social Security |
0.1 |
0.1 |
0.1 |
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Taxes,
Wages, and Social Security |
0.3 |
0.1 |
0.1 |
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Other
Amounts Payable |
1.8 |
0.3 |
0.3 |
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Amounts
Payable Within One Year |
50.1 |
39.7 |
27.8 |
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Adjustment
Accounts |
0.1 |
0.0 |
0.0 |
|
Creditors |
71.5 |
62.3 |
50.5 |
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Total
Liabilities + Shareholders' Equity |
84.7 |
74.9 |
62.9 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.77 |
|
|
1 |
Rs.83.31 |
|
Euro |
1 |
Rs.70.46 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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 |
|
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 |
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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.