MIRA INFORM REPORT

Report Date :

27.11.2014

IDENTIFICATION DETAILS

Name :	ANEESH BVBA

Registered Office :	Hoveniersstraat 53-24, 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2013

Date of Incorporation :	20.12.1988

Com. Reg. No.:	436205536

Legal Form :	Private Limited Company

Line of Business :	Wholesaler of Diamonds and Other Precious Stones.

No. of Employees :	NIL

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No Complaints

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

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 436205535

Company name ANEESH BVBA

Address HOVENIERSSTRAAT 53-24

2018 ANTWERPEN

Number of staff 0

Date of establishment 20/12/1988

Telephone number --

Fax number --

Commentary

The business was established over 25 years ago.

The business has 2 employees.

The business has been at the address for over 12 years.

Operating Result in the latest trading period increased 49% on the previous trading period.

Pre-tax profits increased by 201% compared to the previous trading period.

The business saw an increase in their Cash Balance of 5342% during the latest trading period.

Accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2013	20,964,284	93,885	1,060,751	1,687,109
31/12/2012	17,820,617	31,122	971,640	1,628,066
31/12/2011	20,350,461	-81,908	939,224	1,604,217

DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2013	7,742,035	0	776,758	92,959
31/12/2012	6,496,300	0	776,758	38,787
31/12/2011	6,760,048	0	776,758	-70,556

Payment expectations

Past payments		Payment expectation days	72.34
Industry average payment expectation days	124.33	Industry average day sales outstanding	141.60
Day sales outstanding	121.21

Court data summary

BANKRUPTCY DETAILS
Court action type PROTESTED BILLS	No
Bill amount	-
NSSO DETAILS
Date of summons	-

Company Accounts

Profit & loss
Annual accounts	31-12-2013	%	31-12-2012	%	31-12-2011	Industry average 2013	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	20,964,284	17.64	17,820,617	-12.43	20,350,461	54,152,539	-61.29
Total operating expenses	20,783,414	17.42	17,699,979	-12.95	20,334,136	53,700,067	-61.30
Operating result	180,870	49.93	120,638	638	16,325	149,666	20.85
Total financial income	49	-92.87	682	-86.81	5,172	83,078	-99
Total financial expenses	87,033	-3.51	90,199	-12.77	103,405	191,336	-54.51
Results on ordinary operations before taxation	93,885	201	31,122	38.00	-81,908	34,873	169
^Taxation	10,798	4790	221	676	28	21,734	-50.32

Results on ordinary operations after taxation	83,086	168	30,901	37.71	-81,937	18,920	339
Extraordinary items	6,024	297	1,515	24.57	1,216	5,359	12.41
Other appropriations	0.00	-	0.00	-	0.00	-	-
Net result	89,110	174	32,416	40.16	-80,721	24,413	265
Gross Operating Margin	-	-	-	-	-	33,365	-
Dividends	-	-	-	-	-	234,766	-
Director remuneration	-	-	-	-	32,987	126,036	-
Employee costs	1,460	2.60	1,423	19.56	1,190	139,048	-98.95
Wages and salary	-	-	-	-	185	119,968	-
Employee pension costs	-	-	-	-	-	23,129	-
Social security contributions	-	-	-	-	-	29,614	-
Other employee costs	1,460	2.60	1,423	41.61	1,005	3,975	-63.28
Amortization and depreciation	3,848	-39.59	6,371	-37.32	10,165	17,896	-78.50

Balance Sheet

_{Annual accounts}	_31-122013	_%	_31-122012	_%	_31-122011	_Industry _{average 2013}	_%
_Weeks	₅₂		₅₂		₅₂
_Currency	_EUR		_EUR		_EUR
_{Intangible fixed assets}	₀	_-	₀	_-	₀	_1,297	_-100
_{Tangible fixed assets}	_98,752	_-2.70	_101,494	_-5.91	_107,865	_189,680	_-47.94
_{Land & building}	_97,479	_-3.19	_100,687	_-3.09	_103,895	_369,885	_-73.65
_{Plant & machinery}	_1,273	_57.69	₈₀₈	_-79.66	_3,971	_26,893	_-95.26
_{Furniture & Vehicles}	₀	₀	₀	₀	₀	_{15,771 4,585}	_-99
_{Leasing & Other Similar Rights}	_-	_-	_-	_-	_-	_{107,517 34,551}	_-
_{Other tangible assets}	₀	_-	₀	_-	₀	_9,048	_-100
_{Financial fixed assets}	_-	_-	_-	_-	_-	_179,439	_-
_{Total fixed assets}	_98,752	_-2.70	_101,494	_-5.91	_107,865	_299,919	_-67.07
_Inventories	_521,532	_-34.59	_797,329	_68.88	_472,127	_2,925,620	_-82.17
_{Raw materials & consumables}	_-	_-	_-	_-	_-	_6,545,857	_-
_{Work in progress}	₀	_-	₀	_-	₀	_1,122	_-100
_{Finished goods}	_521,532	_-34.59	_797,329	_68.88	_472,127	_1,941,660	_-73.14
_{Other stocks}	₀	_-	₀	_-	₀	_452,415	_-100
_{Trade debtors}	_6,962,135	_27.85	_5,445,615	_-9.89	_6,043,627	_4,237,665	_64.29
_Cash	_4,691	₅₃₄₂	₈₆	_-99	_9,274	_455,744,554	_-99
_{other amounts receivable}	_153,174	_2.14	_149,959	_19.65	_125,329	_181,620	_-15.66
_{Miscellaneous current assets}	_1,752	_-3.57	_1,817	_-0.51	_1,826	_-448,706,207	_0.00
_{Total current assets}	_7,643,283	_19.52	_6,394,805	_-3.87	_6,652,183	_7,125,179	_7.27
_{Total Assets}	_7,742,035	_19.18	_6,496,300	_-3.90	_6,760,048	_7,392,123 _1,293,260	_4.73

	_{Trade creditors}	_4,118,922	_-13.33	_4,752,245	_1.21	_4,695,298	_2,895,970	_42.23
	_{Short term group loans}	_-	_-	_-	_-	_-	_-	_-
	_{Financial debts} _{Current portion of long term debt}	_1,825,769	₁₆₇₇₄	_10,820	_-96.78	_{336,463 10,317}	_{4,381,895 147,756} _{81,130 14,053}	_-58.33
	_{Amounts Payable for Taxes, Remuneration & Social Security}	_10,987	₂₇₉	_2,892	_-43.14	_5,086	_{8,507 -}	_-65.27
	_{Miscellaneous current liabilities}	₄₉₆	_-36.56	₇₈₂	_-2.68	₈₀₃	_-99	_{- -}
	_{Total current liabilities}	_5,956,174	_24.95	_4,766,739	_-5.57	_5,047,967	_5,067,698	_17.53
	_{LONG TERM DEBTS AND LIABILITIES}
_{Long term group loans - - - - - - --}
_{Other long term loans - - - - - - --}
	_{Deffered taxes}	_-	_-	_-	_-	_-	_{46,266 28,377}	_-
	_{Provisions for Liabilities & Charges}	₀	_-	₀	_-	₀	_{3,919 0}	_-100
	_{Other long term liabilities}	_725,111	_-4.33	_757,920	_-1.93	_772,857	_243,046	₁₉₈
	_{Total long term debts}_{SHAREHOLDERS EQUITY}	_725,111	_-4.33	_757,920	_-1.93	_772,857	_679,230	_6.75
	_{Issued share capital}	_776,758	₀	_776,758	₀	_776,758	_962,001	_-19.26
	_{Share premium account}	_-	_-	_-	_-	_-	_124,160	_-
	_Reserves	_283,993	_45.73	_194,883	_19.95	_162,467	_652,703	_-56.49
	_{Revaluation reserve}	_-	_-	_-	_-	_-	_881,530	_-
	_{Total shareholders equity}	_1,060,751	_9.17	_971,640	_3.45	_939,224	_1,637,331	_-35.21
	_{Working capital}	_1,687,109	_3.63	_1,628,066	_1.49	_1,604,217	_2,057,482	_-18.00
	_Cashflow	_92,959	₁₃₉	_38,787	_54.97	_-70,556	_38,939	₁₃₈
	_{Net worth}	_1,060,751	_9.17	_971,640	_3.45	_939,224	_1,636,034	_-35.16

Ratio Analysis

Annual accounts	31-12-2013	change(%)	31-12-2012	change(%)	31-12-2011	Industry average 2013	%
TRADING PERFORMANCE
Profit Before Tax	0.45	164	0.17	42.50	-0.40	-7,00	6.43
Return on capital employed	5.26	192	1.80	37.66	-4.78	-7,00	75.14
Return on total assets employed	1.21	152	0.48	39.67	-1.21	-8,00	15.12
Return on net assets employed	8.85	176	3.20	36.70	-8.72	-6,00	147
Sales / net working capital	12.43	13.52	10.95	-13.71	12.69	131,00	-99
Stock turnover ratio	2.49	-44.30	4.47	92.67	2.32	77,00	-96.77
Debtor days	121.21	8.67	111.54	2.90	108.40	141,60	-14.40
Creditor days	72.34	-26.18	98	16.28	84.28	124,33	-41.82
SHORT TERM STABILITY
Current ratio	1.28	-4.48	1.34	1.52	1.32	4,00	-87.20
Liquidity ratio / acid ratio	1.20	2.56	1.17	-4.10	1.22	3,00	-60.00
Current debt ratio	5.62	14.46	4.91	-8.57	5.37	10,00	-43.80
Liquidity ratio reprocessed	-	-	-	-	-	-	-
LONG TERM STABILITY
Gearing	172.12	15406	1.11	-96.99	36.92	229,00	-24.84
Equity in percentage	13.70	-8.42	14.96	7.70	13.89	-210,00	6.52
Total debt ratio	6.30	10.72	5.69	-8.23	6.20	11,00	-42.73

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 Information

Suspension of payments / moratorium history

Amount -

Details -

Payment expectations

Payment expectation days 72.34

Day sales outstanding 121.21

Industry comparison

Activity code 46761

Activity description Wholesale of diamonds and other precious stones

Industry average payment

expectation days 124.33

Industry average day sales

Outstanding 141.60

Industry quartile analysis

Payment expectations

Company result 72.34

Lower 122.66

Median 75.64

Upper 46.73

Day sales outstanding

Company result 121.21

Lower 102.33

Median 54.51

Upper 24.07

Shareholder Details

Summary

Group - Number of Companies 0

Linkages - Number of Companies 0

Number of Countries 0

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

Linked Companies

Summary

Group - Number of Companies 0

Linkages - Number of Companies 0

Number of Countries 0

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

Director details

Current director details

Name AMIT BHANSALI

Position Principal Manager

Start Date 07/11/2009

Street 32 ARENDSNESTLAAN EDEGEM

Post code 2650

Country Belgium

Former director details

Name SOPEN SANJAY MEHTA

Position Principal Manager

Start Date 08/03/2000

End Date 05/09/2000

Street

Post code

Country India

Name MEHTA BAKULCHANDRA

Position Principal Manager

Start Date 08/03/2002

End Date Unknown date

Street 25 PRINS ALBERTLEI ANTWERPEN

Post code 2600

Country Belgium

Name KANTILAL METHA BAKULCHANDRA

Position Principal Manager

Start Date 27/05/1997

End Date Unknown date

Street 25 PRINS ALBERTLEI ANTWERPEN

Post code 2600

Country Belgium

Name SUDHIR BHANSALI AMIT

Position Principal Manager

Start Date 27/05/1997

End Date Unknown date

Street 31 PRINS ALBERTLEI ANTWERPEN

Post code 2600

Country Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.87
UK Pound	1	Rs.97.23
Euro	1	Rs.77.21

INFORMATION DETAILS

Analysis Done by :	DIV

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
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.

Business number	436205535	Company name	ANEESH BVBA
Fax number		Date founded	20/12/1988
Company status	active	Company type	Private Limited Company (BL/LX)
Currency	Euro (€)	Date of latest accounts	31/12/2013
Activity code	46761	Liable for VAT	yes
Activity description	Wholesale of diamonds and other precious stones	VAT Number	BE.0436.205.535 Check VAT number
Belgian Bullettin of Acts Publications	moniteur belge

MIRA INFORM REPORT

Company Summary

Commentary

Accounts

Payment expectations

Court data summary

Company Information

Company Accounts

Payment Information

Shareholder Details

Linked Companies

Summons

Protested Bills

Bankruptcy and other legal events

Director details

Unit