MIRA INFORM REPORT

 

 

Report Date :

26.08.2014

 

IDENTIFICATION DETAILS

 

Name :

FORTUNE JEWEL BVBA

 

 

Registered Office :

Hoveniersstraat 30 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

15.07.2011

 

 

Com. Reg. No.:

838169278

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES

 

 

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 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Belgium

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

 

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 name and address

 

Business number           838169278

Company name             FORTUNE JEWEL BVBA

Address                        HOVENIERSSTRAAT

30 2018 ANTWERPEN

Number of staff              0

Date of establishment     15/07/2011

Telephone number          032333444

 

 

Commentary

 

No employees are recorded for this business.

 

The business has been at the address for over 6 months.

 

The business has changed address 1 times in the last year.

 

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

TURNOVER

PROFIT BEFORE TAX

NET WORTH

WORKING CAPITAL

31/12/2012

22,247,004

21,102

32,672

898,689

Accounts

DATE OF LATEST ACCOUNTS

BALANCE TOTAL

NUMBER OF EMPLOYEES

CAPITAL

CASHFLOW

31/12/2012

8,503,365

0

18,600

15,127

 

 

Payment expectations

 

Past payments

 

Payment expectation days

121.34

Industry average payment expectation days

164.26

Industry average day sales outstanding

120.92

Day sales outstanding

103.58

Court data summary

BANKRUPTCY DETAILS

Court action type

no

 

 

 

 

 

Company information

 

Business number

838169278

Company name

FORTUNE JEWEL BVBA

Office Address

No 151, Hoveniersstraat,

30, Box No 117, 2018,

Antwerpen, Belgium

Fax number

 

Date founded

15/07/2011

Company status

active

Company type

Private Limited Company (BL/LX)

Currency

Euro (€)

Date of latest accounts

31/12/2012

Activity code

46761

liable for VAT

 

Activity description

Wholesale of diamonds and other precious stones

VAT Number

BE.0838.169.278

Belgian Bullettin of Acts Publications

moniteur belge

 

 

 

 

Profit & loss

 

 

Annual accounts

31-12-2012

 

 

 

 

Industry average

 

 

Weeks

75

 

-

 

-

 

 

 

Currency

EUR

 

-

 

-

 

 

 

Turnover

22,247,004

-

-

-

-

-

-

 

Total operating expenses

22,208,852

-

-

-

-

-

-

 

Operating result

38,152

-

-

-

-

-

-

 

Total financial income

4

-

-

-

-

-

-

 

Total financial expenses

17,054

-

-

-

-

-

-

 

Results on ordinary operations before taxation

21,102

-

-

-

-

-

-

 

Taxation

7,030

-

-

-

-

-

-

 

Results on ordinary operations after taxation

14,072

-

-

-

-

-

-

 

Extraordinary items

0

-

-

-

-

-

-

 

Other appropriations

0.00

-

-

-

-

-

-

 

Net result

14,072

-

-

-

-

-

-

 

OTHER INFORMATION

 

Dividends

-

-

-

-

-

-

-

 

Director remuneration

-

-

-

-

-

-

-

 

Employee costs

-

-

-

-

-

-

-

 

Wages and salary

-

-

-

-

-

-

-

 

Employee pension costs

-

-

-

-

-

-

-

 

Social security contributions

-

-

-

-

-

-

-

 

Other employee costs

0

-

-

-

-

-

-

 

Amortization and depreciation

1,055

-

-

-

-

-

-

 

back to top

 

balance sheet

 

 

Annual accounts

31-12-2012

 

 

 

 

Industry average

 

 

Weeks

75

 

-

 

-

 

 

 

Currency

EUR

 

-

 

-

 

 

 

Intangible fixed assets

0

-

-

-

-

-

-

 

Tangible fixed assets

4,834

-

-

-

-

-

-

 

Land & building

-

-

-

-

-

-

-

 

Plant & machinery

2,381

-

-

-

-

-

-

 

Furniture & Vehicles

2,453

-

-

-

-

- -

-

 

Leasing & Other Similar Rights

-

-

-

-

-

- -

-

 

Other tangible assets

0

-

-

-

-

-

-

 

Financial fixed assets

-

-

-

-

-

-

-

 

Total fixed assets

4,834

-

-

-

-

-

-

 

Inventories

2,129,242

-

-

-

-

-

-

 

Raw materials & consumables

-

-

-

-

-

-

-

 

Work in progress

0

-

-

-

-

-

-

 

Finished goods

2,129,242

-

-

-

-

-

-

 

Other stocks

0

-

-

-

-

-

-

 

Trade debtors

6,313,529

-

-

-

-

-

-

 

Cash

51,585

-

-

-

-

-

-

 

other amounts receivable

4,175

-

-

-

-

-

-

 

Miscellaneous current assets

0

-

-

-

-

-

-

 

Total current assets

8,498,531

-

-

-

-

-

-

 

Total Assets

8,503,365

-

-

-

-

- -

-

 

CURRENT LIABILITIES

 

 

 

Trade creditors

7,382,793

-

-

-

-

-

-

 

Short term group loans

-

-

-

-

-

-

-

 

Financial debts

10,921

-

-

-

-

- -

-

 

Current portion of long term debt

-

-

-

-

-

- -

-

 

Amounts Payable for Taxes, Remuneration & Social Security

7,030

-

-

-

-

- -

-

 

Miscellaneous current liabilities

199,099

-

-

-

-

-

- -

 

Total current liabilities

7,599,842

-

-

-

-

-

-

 

LONG TERM DEBTS AND LIABILITIES

 

Long term group loans

-

-

-

-

-

-

- -

 

Other long term loans

870,850

-

-

-

-

-

- -

 

Deffered taxes

-

-

-

-

-

- -

-

 

Provisions for Liabilities & Charges

0

-

-

-

-

- -

-

 

Other long term liabilities

0

-

-

-

-

-

-

 

Total long term debts

870,850

-

-

-

-

-

-

 

SHAREHOLDERS EQUITY

 

Issued share capital

18,600

-

-

-

-

-

-

 

Share premium account

-

-

-

-

-

-

-

 

Reserves

14,072

-

-

-

-

-

-

 

Revaluation reserve

-

-

-

-

-

-

-

 

Total shareholders equity

32,672

-

-

-

-

-

-

 

 

 

Working capital

898,689

-

-

-

-

-

 

Cashflow

15,127

-

-

-

-

-

 

Net worth

32,672

-

-

-

-

-

 

 

ratio analysis

 

 

Annual accounts

31-12-2012

change(%)

 

change(%)

 

Industry average

%

 

TRADING PERFORMANCE

 

Profit Before Tax

0.09

-

-

-

-

-

-

 

Return on capital employed

2.34

-

-

-

-

-

-

 

Return on total assets employed

0.25

-

-

-

-

-

-

 

Return on net assets employed

64.59

-

-

-

-

-

-

 

Sales / net working capital

24.75

-

-

-

-

-

-

 

Stock turnover ratio

9.57

-

-

-

-

-

-

 

Debtor days

103.58

-

-

-

-

-

-

 

Creditor days

121.34

-

-

-

-

-

-

 

SHORT TERM STABILITY

 

 

 

 

 

Current ratio

1.12

-

-

-

-

-

-

 

Liquidity ratio / acid ratio

0.84

-

-

-

-

-

-

 

Current debt ratio

232.61

-

-

-

-

-

-

 

Liquidity ratio reprocessed

-

-

-

-

-

-

-

 

LONG TERM STABILITY

 

Gearing

2698.82

-

-

-

-

-

-

 

Equity in percentage

0.38

-

-

-

-

-

-

 

Total debt ratio

259.26

-

-

-

-

-

-

 

 

Industry comparison

 

Activity code

46761

Activity description

Wholesale of diamonds and other precious stones

industry average credit rating

64.48

Industry average credit limit

140177.31

 

 

Payment expectations

 

Payment expectations

Payment expectation days

121.34

Day sales outstanding

103.58

Industry comparison

Activity code

46761

Activity description

Wholesale of diamonds and other precious stones

Industry average payment expectation days

164.26

Industry average day sales outstanding

120.92

Industry quartile analysis

Payment expectations

Company result

121.34

Lower

134.13

Median

83.75

Upper

45.33

 

Day sales outstanding

Company result

103.58

Lower

112.48

Median

58.70

Upper

27.62

 

 

Shareholder Details

 

Group Structure

No group structure for this company

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

Bankruptcy details

There is no bankruptcy data against this company

 

Court data

There is no data for this company

Director details

 

Name

DARSHIT AJIT SHAH

Position

Principal Manager

Start Date

28/07/2011

Street

134 BELGIELEI ANTWERPEN

Post code

2018

Country

Belgium

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.43

UK Pound

1

Rs.100.12

Euro

1

Rs.79.74

 

INFORMATION DETAILS

 

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.