MIRA INFORM REPORT

Report Date :

06.08.2014

IDENTIFICATION DETAILS

Name :	SIYA DIAMOND BVBA
Registered Office :	Hoveniersstraat 2, 2018 Antwerpen
Country :	Belgium
Financials (as on) :	31.12.2013
Date of Incorporation :	13.06.2003
Com. Reg. No.:	860766221
Legal Form :	Private Limited Company
Line of Business :	Wholesale of Chemical Products For Industrial Use.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
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 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
Belgium	A1	A2

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 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. 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 summary

Business number	860766221
Company name	SIYA DIAMOND BVBA
Address	HOVENIERSSTRAAT 2
	2018 ANTWERPEN
Number of staff	0
Date of establishment	13/06/2003
Telephone number	037072014

The business was established over 11 years ago.

No employees are recorded for this business.

The business has been at the address for over 2 years.

Net Worth increased by 35% during the latest trading period.

A 22% decline in Total Assets occurred during the latest trading period.

The business saw a decrease in their Cash Balance of 23% during the latest trading period.

Accounts

DATE OF LATEST ACCOUNTS TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2013	39,349	101,705	99,790
31/12/2012	44,157	75,188	72,869
31/12/2011	50,201	45,545	45,235

Accounts

DATE OF Latest Accounts	Balance Total	Number of Employees	Capital	Cash Flow
31/12/2013	1109811	0	18600	26922
31/12/2012	1425419	0	18600	29660
31/12/2011	340539	0	18600	35631

Payment expectations

Past Payments		Payment Expectation Days	--
Industry Average Payment Expectation Days	61.87	Industry Average Day Sales Outstanding	91.85
Day Sales Outstanding	--

Company Information

Business Number	860766221
Company status	Active
Currency	Euro (€)
Activity Code	46751
Belgian Bullettin of Acts Publications	Wholesaler of chemical products for industrial use moniteur belge
Company Name	SIYA DIAMOND BVBA
Dated Founded	13.06.2003
Company Type	Private Limited Company (BL/LX)
Date of Latest Accounts	31.12.2013
Liable for Vat	Yes
Vat Number	BE:0860.766.221 Check Vat Number

Company Accounts

Annual accounts	31-12-2013	%	31-12-2012	%	31-12-2011	Industry	%
						average 2013
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	-	-	-	-	-	51,021,915	-
Total operating expenses	-	-	-	-	-	48,641,471	-
Operating result	40,180	-10.23	44,759	-22.65	57,868	1,178,900	-96.59
Total financial income	1,782	269	483	-49.46	955	324,955	-99
Total financial expenses	2,613	140	1,085	-87.42	8,622	318,636	-99
Results on ordinary operations before taxation	39,349	-10.89	44,157	-12.04	50,201	1,169,012	-96.63
Taxation	12,833	-11.59	14,514	-0.38	14,570	366,691	-96.50
Results on ordinary operations after taxation	26,517	-10.55	29,643	-16.81	35,631	847,967	-96.87
Extraordinary items	0	-	0	-	0	-134,581	0
Other appropriations	0.00	-	0.00	-	0.00	-	-
Net result	26,517	-10.55	29,643	-16.81	35,631	713,658	-96.28
OTHER INFORMATION
Gross Operating Margin	42,359	-9.13	46,614	-21.28	59,212	244,802	-82.70
Dividends	-	-	-	-	-	2,578,072	-
Director remuneration	-	-	-	-	-	117,300	-
Employee costs	-	-	-	-	-	1,695,106	-
Wages and salary	-	-	-	-	-	1,246,639	-
Employee pension costs	-	-	-	-	-	110,408	-
Social security contributions	-	-	-	-	-	357,777	-
Other employee costs	0	-	0	-	0	91,050	-100
Amortization and depreciation	405	2339	17	-	-	392,011	-99

Balance sheet

Annual accounts	31-12-2013	%	31-12-2012	%	31-12-2011	Industry average 2013	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Intangible fixed assets	0	-	0	-	0	187,523	-100
Tangible fixed assets	1,604	-20.17	2,009	-	-	1,583,698	-99
Land & building	-	-	-	-	-	978,986	-
Plant & machinery	1,604	-20.17	2,009	-	-	1,068,797	-99
Furniture & Vehicles	-	-	-	-	-	58,456 19,666	-
Leasing & Other Similar Rights	-	-	-	-	-	466,993 33,355	-
Other tangible assets	0	-	0	-	0	249,316	-100
Financial fixed assets	310	0	310	0	310	7,848,084	-99
Total fixed assets	1,914	-17.47	2,319	648	310	6,989,839	-99
Inventories	72,447	-78.16	331,694	2009	15,722	3,082,689	-97.65
Raw materials & consumables	-	-	-	-	-	3,639,098	-
Work in progress	0	-	0	-	0	399,413	-100
Finished goods	0	-	0	-	0	1,174,884	-100
Other stocks	72,447	-78.16	331,694	2009	15,722	97,110	-25.40
Trade debtors	993,192	-6.09	1,057,572	256	296,405	3,800,483	-73.87
Cash	14,027	-23.38	18,307	65.21	11,081	1,100,083	-98.72
other amounts receivable	28,099	91.97	14,637	0.52	14,562	805,288	-96.51
Miscellaneous current assets	131	-85.22	889	-63.84	2,460	1,767,261	-99
Total current assets	1,107,896	-22.15	1,423,099	318	340,229	9,461,275	-88.29
Total Assets	1,109,811	-22.14	1,425,419	318	340,539	15,900,049 1,293,764	-93.02

Current liabilities

Trade creditors	990,176	-25.54	1,329,894	405	263,319	2,996,477	-66.96
Short term group loans	-	-	-	-	-	-	-
Financial debts	-	-	-	-	-	2,243,443 230,115	-
Current portion of long term debt	-	-	-	-	-	175,288 41,999	-
Amounts Payable for Taxes, Remuneration & Social Security	12,884	-15.48	15,244	4.63	14,570	49,529 -	-96.95
Miscellaneous current liabilities	5,047	-0.91	5,093	-70.23	17,105	-99	—
Total current liabilities	1,008,106	-25.34	1,350,231	357	294,994	5,347,798	-81.15
LONG TERM DEBTS AND LIABILITIES
Long term group loans	-	-	-	-	-	-	—
Other long term loans	-	-	-	-	-	-	—
Deffered taxes	-	-	-	-	-	47,236 12,211	-
Provisions for Liabilities & Charges	0	-	0	-	0	126,569 0	-100
Other long term liabilities	0	-	0	-	0	37,697	-100
Total long term debts	0	-	0	-	0	1,772,568	-100
Issued share capital	18,600	0	18,600	0	18,600	2,257,330	-99
Share premium account	-	-	-	-	-	4,131,021	-
Reserves	83,105	46.86	56,588	110	26,945	6,119,866	-98.64
Revaluation reserve	-	-	-	-	-	3,796,110	-
Total shareholders equity	101,705	35.27	75,188	65.09	45,545	8,779,682	-98.84
Working capital	99,790	36.95	72,869	61.09	45,235	4,113,477	-97.57
Cashflow	26,922	-9.23	29,660	-16.76	35,631	1,056,871	-97.45
Net worth	101,705	35.27	75,188	65.09	45,545	8,592,160	-98.82

Ratio Analysis

Annual accounts	31-12-2013	Change (%)	31-12-2012	Change (%)	31-12-2011	Industry average 2013	%
TRADING PERFORMANCE
Profit Before Tax	-	-	-	-	-	7,00	-
Return on capital employed	38.69	-34.12	58.73	-46.72	110.22	62,00	-37.60
Return on total assets employed	3.55	14.52	3.10	-78.97	14.74	4,00	-11.25
Return on net assets employed	38.69	-34.12	58.73	-46.72	110.22	57,00	-32.12
Sales / net working capital	-	-	-	-	-	10,00	-
Stock turnover ratio	-	-	-	-	-	11,00	-
Debtor days	-	-	-	-	-	110,00	-
Creditor days	-	-	-	-	-	511,00	-
SHORT TERM STABILITY
Current ratio	1.10	4.76	1.05	-8.70	1.15	13,00	-45.00
Liquidity ratio / acid ratio	1.03	27.16	0.81	-26.36	1.10	13,00	-92.08
Current debt ratio	9.91	-44.82	17.96	177	6.48	2,00	395
Liquidity ratio reprocessed	-	-	-	-	-	-	-
LONG TERM STABILITY
Gearing	-	-	-	-	-	102,00	-
Equity in percentage	9.16	73.81	5.27	-60.58	13.37	-13,00	70.46
Total debt ratio	9.91	-44.82	17.96	177	6.48	3,00	230

Industry comparison

Activity code	46751
Activity description	Wholesale of chemical products for industrial use
industry average credit rating	69
Industry average credit limit	167313.70

Payment Information

Industry comparison
Activity code	46751
Activity description	Wholesale of chemical products for industrial use
Industry average payment expectation days	61.87
Industry average day sales outstanding	91.85
Industry quartile analysis Payment expectations
Company Result	--
Lower	86.79
Median	57.93
Upper	38.19

Day sales outstanding
Company Result	--
Lower	70.29
Median	41.64
Upper	23.10

NSSO Details
Business Number	860766221
Bankruptcy Details
There is no bankruptcy data against this company

Bankruptcy Data

COURT DATA

There is no data for this company

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.87
UK Pound	1	Rs.102.67
Euro	1	Rs.81.70

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

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.