|
Report Date : |
07.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
MEGHMANI
EUROPE BVBA |
|
|
|
|
Registered Office : |
Grotesteenweg
42-44, 2600 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
28.10.2004 |
|
|
|
|
Com. Reg. No.: |
869763861 |
|
|
|
|
Legal Form : |
Private
Limited Company (BL/LX) |
|
|
|
|
Line of Business : |
Wholesale
of chemical products for industrial use |
|
|
|
|
No of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 |
|
Business
number |
869763861 |
|
Company
name |
MEGHMANI EUROPE BVBA |
|
Address |
GROTESTEENWEG
42-44 2600
ANTWERPEN |
|
Number
of staff |
2 |
|
Date
of establishment |
28/10/2004 |
|
Telephone
number |
033375357 |
|
Fax
number |
|
Accounts
|
|
|
|
|
|
DATE
OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE
TAX |
NET WORTH |
WORKING CAPITAL |
|
31/03/2012 |
4.426.310 |
8,152 |
-810,705 |
-990,594 |
|
31/03/2011 |
2.691.457 |
-18,111 |
-832,582 |
-1,015,180 |
|
31/03/2010 |
3.651.364 |
-91,933 |
-575,107 |
-744,866 |
Accounts
|
|
|
|
|
|
DATE
OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/03/2012 |
4.116.285 |
2 |
24,750 |
43,958 |
|
31/03/2011 |
3.253.375 |
1 |
24,750 |
-235,081 |
|
31/03/2010 |
5.528.486 |
1 |
24,750 |
-62,155 |
Payment
expectations
|
|||
|
Past
payments |
|
Payment
expectation days |
182.52 |
|
Industry
average payment expectation days |
63.39 |
Industry
average day sales outstanding |
198.80 |
|
Day
sales outstanding |
230.17 |
|
|
Court data
summary
|
|
|
BANKRUPTCY
DETAILS |
|
|
Court
action type |
no |
|
PROTESTED
BILLS |
|
|
Bill
amount |
- |
|
NSSO
DETAILS |
|
|
Date
of summons |
- |
Company
information
|
|
Business
number |
869763861 |
Company
name |
MEGHMANI
EUROPE BVBA |
|
Fax
number |
|
Date
founded |
28/10/2004 |
|
Company
status |
active |
Company
type |
Private
Limited Company (BL/LX) |
|
Currency |
Euro
(€) |
Date
of latest accounts |
31/03/2012 |
|
Activity
code |
46751 |
Liable
for VAT |
yes |
|
Activity
description |
Wholesale
of chemical products for industrial use |
VAT
Number |
BE.0869.763.861 Check VAT number |
|
Belgian
Bullettin of Acts Publications |
moniteur beige |
|
|
|
Social
Balance Sheet |
Total |
|
|
|
During
the reporting year |
|
|
|
|
ended
31-03-2012 |
|
|
|
|
Full-time
Employees |
2 |
|
|
|
Part-time
Employees |
- |
|
|
|
Total
Fte Employees |
2 |
|
|
|
|
|
|
|
|
Number
of hours worked |
|
|
|
|
Full-time
Employees |
3,625 |
|
|
|
Part-time
Employees |
- |
|
|
|
Total |
3,625 |
|
|
|
|
|
|
|
|
Personnel
Charges |
|
|
|
|
Full-time
Employees |
130,253 |
|
|
|
Part-time
Employees |
- |
|
|
|
Total |
130,253 |
|
|
|
Benefits
In Addition To Wages |
1,051 |
|
|
|
|
|
|
|
|
During
the previous reporting year |
|
|
|
|
Average
number employees in Fte |
1 |
|
|
|
Actual
working hours |
1,908 |
|
|
|
Personnel
Charges |
83,156 |
|
|
|
Benefits
In Addition To Wages |
- |
|
|
|
Type
of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
Unlimited
Duration Contracts |
2 |
- |
2 |
|
Gender
and Education |
|
|
|
|
Level |
|
|
|
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
Secondairv
education |
1 |
- |
1 |
|
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
Secondairv
education |
1 |
- |
1 |
|
|
|
|
|
|
Working
Category Management |
Full-Time |
Part-Time |
Total
Fte |
|
White
collar worker |
2 |
- |
2 |
|
|
|
|
|
|
New
staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
|
New
Starters |
2 |
- |
2 |
|
Personnel
(NSSO classification) |
|
|
Code |
- |
|
Description |
FROM
1 TO 4 EMPLOYEES |
|
|
|
|
Joint
Industrial Committee (JIC) |
|
|
JIC
Code |
207 |
|
Description
category |
Joint
committee for the employees of the chemical industry |
|
|
|
|
Significant
Events |
|
|
Event
Date |
31/01/2007 |
|
Event
Description |
|
|
Event
Details |
Etablissement
du nouveau texte des statuts en neerlandais. |
|
|
|
|
Event
Date |
31/01/2007 |
|
Event
Description |
|
|
Event
Details |
Vaststelling
nederlandse tekst statuten |
|
Annual
accounts |
31-03-2012
|
% |
31-03-2011 |
% |
31-03-2010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
4,426,310
|
64.46 |
2,691,457 |
-26.29 |
3,651,364 |
64,126,743 |
-93.10 |
|
Total
operating expenses |
4,349,916
|
63.71 |
2,657,167 |
-27.05 |
3,642,632 |
61,962,693 |
-92.98 |
|
Operating result |
76,394
|
122 |
34,290 |
292 |
8,731 |
984,599 |
-92.24 |
|
Total financial income |
17,139 |
-79.98 |
85,597 |
128 |
37,418 |
450,121 |
-96.19 |
|
Total financial expenses |
85,382 |
-38.13 |
137,999 |
-0.06 |
138,082 |
574,929 |
-85.15 |
|
Results on ordinary operations before
taxation |
8,152 |
45.01 |
-18,111 |
19.70
|
-91,933 |
846,139 |
-99 |
|
Taxation |
- |
- |
- |
- |
- |
263,445 |
- |
|
Results on ordinary operations after
taxation |
8,152 |
45.01 |
-18,111 |
19.70 |
-91,933 |
628,711 |
-98.70 |
|
Extraordinary items |
13,726 |
5.73 |
-239,364 |
-4348 |
5,634 |
59,784 |
-77.04 |
|
Other appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result |
21,877 |
8.50 |
-257,475 |
-198 |
-86,299 |
687,640 |
-96.82 |
|
OTHER
INFORMATION |
|
|
|
|
|
|
|
|
Gross Operating Margin |
- |
- |
- |
- |
- |
250,796 |
- |
|
Dividends |
- |
- |
- |
- |
- |
4,079,609 |
- |
|
- |
- |
- |
- |
- |
268,136 |
- |
|
|
Employee costs |
130,253 |
32.70 |
98,158 |
73.60 |
56,543 |
1,297,550 |
-89.96 |
|
Wages
and salary |
108,679 |
30.69 |
83,156 |
111 |
39,350 |
919,124 |
-88.18 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
41,514 |
- |
|
Social
security contributions |
17,126 |
36.42 |
12,554 |
35.11 |
9,292 |
271,341 |
-93.69 |
|
Other
employee costs |
4,449 |
81.72 |
2,448 |
-69.02 |
7,902 |
87,591 |
-94.92 |
|
Amortization and depreciation |
22,081 |
-1.40 |
22,394 |
-7.24 |
24,143 |
333,567 |
-93.38 |
|
Annual
accounts |
31-032012 |
% |
31-032011 |
% |
31-032010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
|
|
|
|
|
|
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
223,178 |
-100 |
|
Tangible fixed assets |
512,554 |
-4.13 |
534,635 |
-2.80 |
550,029 |
1,496,840 |
-65.76 |
|
Land
& building |
495,727 |
-2.72 |
509,601 |
-2.65 |
523,475 |
1,104,993 |
-55.14 |
|
Plant
& machinery |
- |
- |
- |
- |
- |
1,105,028 |
- |
|
Furniture
& Vehicles |
16,313 |
-33.24 |
24,433 |
-5.54 |
25,868 |
52,66917,674 |
-69.03 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
360,866
37,796 |
- |
|
Other
tangible assets |
'
515 |
-14.29 |
601 |
-12.50 |
686 |
'
120,660 |
-99 |
|
Financial fixed assets |
25,270 |
-19.49 |
31,386 |
15.74 |
27,117 |
8,039,093 |
-99 |
|
Total fixed assets |
537,824 |
-4.98 |
566,020 |
-1.93 |
577,145 |
6,976,254 |
-92.29 |
|
Inventories |
543,835 |
-8.42 |
593,844 |
-22.53 |
766,544 |
3,274,772 |
-83.39 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
3,148,312 |
- |
|
Work
in progress |
0 |
- |
0 |
- |
0 |
45,676 |
-100 |
|
Finished
goods |
543,835 |
-8.42 |
593,844 |
-22.53 |
766,544 |
1,746,949 |
-68.87 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
135,490 |
-100 |
|
Trade debtors |
2,791,286 |
49.90 |
1,862,116 |
-52.02 |
3,881,086 |
3,552,970 |
-21.44 |
|
Cash |
237,869 |
3.20 |
230,495 |
-14.93 |
270,959 |
899,490 |
-73.56 |
|
other amounts receivable |
4,570 |
- |
0 |
-100 |
32,751 |
1,156,888 |
-99 |
|
Miscellaneous current assets |
900 |
0 |
900 |
- |
0 |
955,564 |
-99 |
|
Total current assets |
3,578,461 |
33.16 |
2,687,355 |
^5.72 |
4,951,340 |
8,755,223 |
-59.13 |
|
Total Assets |
4,116,285 |
26.52 |
3,253,375 |
-41.15 |
5,528,486 |
15,198,357
1,030,091 |
-72.92 |
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
Trade creditors |
2,175,255 |
64.18 |
1,324,938 |
172 |
486,987 |
3,222,144 |
-32.49 |
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial debts |
- |
- |
- |
- |
- |
3,414,377
150,000 |
- |
|
Current portion of long term debt |
25,438 |
6.36 |
"
23,965 |
5.82 |
"
22,647 |
164,315
28,345 |
-84.49 |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
- |
- |
15,284 |
254 |
4,311 |
37,103- |
|
|
Miscellaneous current liabilities |
2,368,312 |
1.28 |
2,338,348 |
-54.88 |
5,182,262 |
206 |
|
|
Total current liabilities |
4,569,055 |
23.40 |
3,702,535 |
-35.00 |
5,696,206 |
5,407,774 |
-15.51 |
|
LONG
TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
|
|
Other
long term loans |
357,934 |
-6.65 |
383,422 |
-5.88 |
407,387 |
-95.00 |
-- |
|
Deffered
taxes |
- |
- |
- |
- |
- |
49,341
10,478 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
104,995
0 |
-100 |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
72,135 |
-100 |
|
Total long term debts |
357,934 |
-6.65 |
383,422 |
-5.88 |
407,387 |
2,919,207 |
-87.74 |
|
SHAREHOLDERS
EQUITY |
|
|
|
|
|
|
|
|
Issued share capital |
24,750 |
0 |
24,750 |
0 |
24,750 |
2,617,141 |
-99 |
|
Share premium account |
- |
- |
- |
- |
- |
2,248,335 |
- |
|
Reserves |
-835,455 |
97.45 |
-857,332 |
^2.92 |
-599,857 |
4,131,628 |
-120 |
|
Revaluation reserve |
- |
- |
- |
- |
- |
200,466 |
- |
|
Total
shareholders equity |
-810,705 |
97.37 |
-832,582 |
^14.77 |
-575,107 |
6,871,376 |
-111 |
|
Working capital |
-990,594 |
97.58 |
-1,015,180 |
-36.29 |
-744,866 |
3,347,449 |
-129 |
|
Cashflow |
43,958 |
18.70 |
-235,081 |
-278 |
-62,155 |
985,520 |
-95.54 |
|
Net worth |
-810,705 |
97.37 |
-832,582 |
-44.77 |
-575,107 |
6,648,198 |
-112 |
|
Annual
accounts |
31-03-2012 |
change(%) |
31-03-2011 |
change(%) |
31-03-2010 |
Industry
average 2012 |
% |
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.18 |
26.87 |
-0.67 |
26.59 |
-2.52 |
0,00 |
- |
|
Return on capital employed |
-1.80 |
-144 |
4.03 |
-92.65 |
54.81 |
24,00 |
-107 |
|
Return on total assets employed |
0.20 |
35.71 |
-0.56 |
33.73 |
-1.66 |
-7,00 |
2.86 |
|
Return on net assets employed |
-1.01 |
-146 |
2.18 |
-86.37 |
15.99 |
37,00 |
-102 |
|
Sales / net working capital |
-4.47 |
-68.68 |
-2.65 |
54.08 |
-4.90 |
5,00 |
-100 |
|
Stock turnover ratio |
12.29 |
-44.29 |
22.06 |
5.10 |
20.99 |
15,00 |
-18.07 |
|
Debtor days |
230.17 |
-8.85 |
252.53 |
-34.91 |
387.96 |
198,80 |
15.78 |
|
Creditor days |
182.52 |
0.29 |
182 |
272 |
48.80 |
63,39 |
187 |
|
SHORT
TERM STABILITY |
|
|
|
|
|
|
|
|
Current ratio |
0.78 |
6.85 |
0.73 |
-16.09 |
0.87 |
14,00 |
-74.00 |
|
Liquidity ratio / acid ratio |
0.66 |
15.79 |
0.57 |
-21.92 |
0.73 |
14,00 |
-95.29 |
|
Current debt ratio |
-5.64 |
-26.74 |
-4.45 |
44.95 |
-9.90 |
3,00 |
-288 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG
TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
^7.29 |
96.65 |
^18.93 |
65.44 |
-74.77 |
192,00 |
-124 |
|
Equity in percentage |
-19.70 |
76.98 |
-25.59 |
-146 |
-10.40 |
-65,00 |
30.31 |
|
Total debt ratio |
-6.08 |
-23.83 |
-4.91 |
46.28 |
-10.61 |
5,00 |
-221 |
|
Activity
code |
45751 |
|
Activity
description |
Wholesale
of chemical products for industrial use |
|
industry
average credit rating |
69 |
|
Industry
average credit limit |
167313.70 |
|
Payment
expectation |
|
|
Payment
expectation days |
182.52 |
|
Day
sales outstanding |
230.17 |
|
Industry
comparison |
|
|
Activity
code |
46751 |
|
Activity
description |
Wholesale
of chemical products for industrial use |
|
Industry
average payment expectation days |
63.39 |
|
Industry
average day sales outstanding |
198.80 |
Industry quartile analysis
Payment expectations
Company result 182.52
Lower 91.62
Median 58.98
Upper 40.98
Day sales outstanding
Company result 230.17
Lower 68.70
Median 43.08
Upper 23.89
Summary
Group
- Number of Companies 0
Linkages
- Number of Companies 7
Number
of Countries 3
Group
Structure
No
group structure for this company.
Minority
Shareholders
No
minority shareholders found
Minority
Interests
No
minority interests found
Companies
that match this address
No
Companies Match this address
Summary
|
Group
- Number of Companies |
0 |
|
Linkages
- Number of Companies |
7 |
|
Number
of Countries |
3 |
Linked
Companies
|
NAME |
NUMBER |
LATEST KEY
FINANCIALS |
TURNOVER |
|
MEGHMANI ORGANICS |
04-24052 |
31.03.2014 |
€181.622.694 |
|
MEGHMANI ORGANICS USA, INC |
- |
- |
$350,000 |
|
MEGHMANI
CHEMOTECH LIMITED |
- |
- |
- |
|
MEGHMANI
ENERGY |
- |
- |
- |
|
MEGHMANI
ENERGY LIMITED |
- |
- |
- |
|
MEGHMANI
FINECHEM LIMITED |
- |
- |
- |
|
PT
MEGHMANI INDONESIA |
- |
- |
- |
Summons
There
is no data for this company
Protested
Bills
There
is no data for this company
Bankruptcy
and other legal events
There
is no data for this company
|
Name |
ANAND I PATEL |
|
|
Position |
Principal Manager |
|
|
Start Date |
20/05/2010 |
|
|
Street |
|
|
|
Post code |
|
|
|
Country |
India |
|
|
|
|
|
|
Former director details |
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|
|
|
|
|
|
Name |
MAPARA KETAN |
|
|
Position |
Principal Manager |
|
|
Start Date |
06/03/2006 |
|
|
End Date |
31/03/2011 |
|
|
Street |
391 PRINS BOUDEWIJNLAAN
EDEGEM |
|
|
Post code |
2650 |
|
|
Country |
Belgium |
|
|
|
|
|
|
Name |
KETAN MAPARA |
|
|
Position |
Principal Manager |
|
|
Start Date |
01/04/2006 |
|
|
End Date |
Unknown date |
|
|
Date of birth |
21/05/1969 |
|
|
Street |
14 JAN CAMPERTLAAN |
|
|
Post code |
2343 |
|
|
Country |
The Netherlands |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.39 |
|
UK Pound |
1 |
Rs.98.00 |
|
Euro |
1 |
Rs.76.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.