MIRA INFORM REPORT

Report Date :

23.09.2014

IDENTIFICATION DETAILS

Name :	SUPER DIAM BVBA
Registered Office :	Hoveniersstraat 30 2018 Antwerpen
Country :	Belgium
Financials (as on) :	31.12.2012
Date of Incorporation :	06.02.198
Com. Reg. No.:	462514806
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 :

Ba

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

Status :	Satisfactory
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 name and address

Business number 462514806

Company name SUPER DIAM BVBA

Address HOVENIERSSTRAAT

30 2018 ANTWERPEN

Number of staff 0

Date of establishment 06/02/1998

Telephone number 032343214

Fax number 032343216

Commentary

The business was established over 16 years ago.

The business has 1 employees.

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

A 21% decline in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 37% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 43% during the latest trading period.

Accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2012	74,204,737	114,675	1,789,710	3,446,291
31/12/2011	93,799,257	183,202	1,705,785	3,397,438
31/12/2010	92,144,144	139,910	1,577,651	3,211,982

Accounts

DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2012	17,627,726	0	300,000	118,170
31/12/2011	22,584,049	0	300,000	162,469
31/12/2010	21,161,299	0	300,000	134,777

Payment expectations

Profitability
Liquidity
Net worth
Payment expectations
Past payments		Payment expectation days	28.09
Industry average payment	165.34	Industry average day sales	127.04
expectation days		outstanding
Day sales outstanding	67.30
Court data summary
BANKRUPTCY DETAILS
Court action type	no
PROTESTED BILLS
Bill amount	-
NSSO DETAILS
Date of summons	-

Company information

Business number	462514806	Company name	SUPER DIAM BVBA
Office Address	Hoveniersstraat 30, Bus 156, Office No 546, 2018 Antwerp Belgium
Fax number	032343216	Date founded	06/02/1998
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	yes
Activity description	Wholesale of diamonds and other precious stones	VAT Number	BE.0462.514.806
Belgian Bullettin of Acts Publications	moniteur belge
Contractor details			Check Article 30 Bis
Registered contractor number	-
Contractor description	-
Date struck off register

Profit & loss

Annual accounts	31-12-2012	%	31-12-2011	%	31-12-2010	Industry average 2012	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	74,204,737	-20.89	93,799,257	1.80	92,144,144	46,485,458	59.63
Total operating expenses	73,701,048	-20.94	93,226,859	1.73	91,638,504	46,114,879	59.82
Operating result	503,689	-12.00	572,398	13.20	505,639	140,644	258
Total financial income	172	-65.68	501	-29.10	707	97,700	-99
Total financial expenses	389,186	-0.13	389,697	6.35	366,436	205,052	89.80
Results on ordinary operations before taxation	114,675	-37.41	183,202	30.94	139,910	25,212	354
Taxation	30,750	-44.16	55,068	39.77	39,399	20,811	47.76
Results on ordinary operations after taxation	83,925	-34.50	128,134	27.48	100,511	10,416	705
Extraordinary items	0	-	0	-	0	-3,982	0
Other appropriations	0.00	-	0.00	-	0.00	-	-
Net result	83,925	-34.50	128,134	27.48	100,511	6,453	1200
OTHER INFORMATION
Dividends	-	-	-	-	-	172,177	-
Director remuneration	-	-	67,970	-	-	112,544	-
Employee costs	-	-	-	-	-	126,172	-
Wages and salary	-	-	-	-	-	105,771	-
Employee pension costs	-	-	-	-	-	14,428	-
Social security contributions	-	-	-	-	-	26,708	-
Other employee costs	0	-	0	-	0	4,356	-100
Amortization and depreciation	34,245	-0.26	34,335	0.20	34,266	17,866	91.68
back to top

balance sheet

Annual accounts	31-12-2012	%	31-12-2011	%	31-12-2010	Industry average 2012	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Intangible fixed assets	0	-	0	-	0	1,576	-100
Tangible fixed assets	461,943	-5.58	489,263	-5.72	518,966	184,536	150
Land & building	-	-	-	-	-	362,988	-
Plant & machinery	8,501	34.36	6,327	24.82	8,417	22,615	62.41
Furniture & Vehicles	6,097	28.49	8,526	-6.05	9,075	17,300 5,364	64.75
Leasing & Other Similar Rights	447,344	-5.70	474,409	-5.40	501,474	142,153 32,369	214
Other tangible assets	0	-	0	-	0	7,611	-100
Financial fixed assets	-	-	-	-	-	306,761	-
Total fixed assets	461,943	-5.58	489,263	-5.72	518,966	395,576	16.78
Inventories	3,443,651	20.53	4,333,012	15.28	5,114,263	3,111,766	10.67
Raw materials & consumables	-	-	-	-	-	7,209,884	-
Work in progress	0	-	0	-	0	2,392	-100
Finished goods	3,443,651	20.53	4,333,012	15.28	5,114,263	2,000,677	72.12
Other stocks	0	-	0	-	0	570,162	-100
Trade debtors	13,681,332	22.76	17,713,093	19.92	14,770,285	4,249,443	221
Cash	18,151	43.67	32,222	95.69	747,015	225,558	91.95
other amounts receivable	19,620	43.74	13,650	69.57	8,049	209,360	90.63
Miscellaneous current assets	3,030	7.82	2,810	3.29	2,721	18,289	83.43
Total current assets	17,165,783	22.31	22,094,786	7.04	20,642,334	7,337,366	133
Total Assets	17,627,726	21.95	22,584,049	6.72	21,161,299	7,692,885 1,451,744	129
CURRENT LIABILITIES
Trade creditors	5,672,103	60.67	14,421,699	37.55	10,484,800	3,151,222	80.00
Short term group loans	-	-	-	-	-	-	-
Financial debts	7,672,630	99	3,836,784	41.64	6,574,124	4,297,815 189,666	78.52
Current portion of long term debt	28,783	4.43	27,562	4.12	26,471	110,204 15,373	73.88
Amounts Payable for Taxes, Remuneration & Social Security	45,353	56.08	103,273	101	51,237	9,727 -	33.54
Miscellaneous current liabilities	300,623	-2.40	308,029	4.87	293,719	1.36	- -
Total current liabilities	13,719,492	26.62	18,697,348	7.27	17,430,352	5,468,297	150
LONG TERM DEBTS AND LIABILITIES
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	413,205	-6.51	441,988	-5.84	469,417	-62.91	- -
Deffered taxes	-	-	-	-	-	37,626 26,358	-
Provisions for Liabilities & Charges	0	-	0	-	0	3,174 0	-100
Other long term liabilities	1,705,321	-1.93	1,738,929	3.27	1,683,880	128,284	1229
Total long term debts	2,118,525	-2.86	2,180,916	1.28	2,153,297	563,937	275
SHAREHOLDERS EQUITY
Issued share capital	300,000	0	300,000	0	300,000	967,079	-

							68.98
Share premium account	-	-	-	-	-	109,362	-
Reserves	1,489,710	5.97	1,405,785	10.03	1,277,651	657,910	126
Revaluation reserve	-	-	-	-	-	939,206	-
Total shareholders equity	1,789,710	4.92	1,705,785	8.12	1,577,651	1,654,570	8.17
Working capital	3,446,291	1.44	3,397,438	5.77	3,211,982	1,869,068	84.39
Cashflow	118,170	27.27	162,469	20.55	134,777	21,225	456

ratio analysis

Annual accounts	31-12-2012	change(%)	31-12-2011	change(%)	31-12-2010	Industry average 2012	%
TRADING PERFORMANCE
Profit Before Tax	0.15	-25.00	0.20	33.33	0.15	-29,00	0.52
Return on capital employed	2.93	-37.79	4.71	25.60	3.75	29,00	-89.90
Return on total assets employed	0.65	-19.75	0.81	22.73	0.66	-201,00	0.32
Return on net assets employed	6.41	-40.32	10.74	21.08	8.87	19,00	-66.26
Sales / net working capital	21.53	-22.02	27.61	-3.76	28.69	44,00	-99
Stock turnover ratio	4.64	0.43	4.62	-16.76	5.55	116,00	-96.00
Debtor days	67.30	-2.36	68.93	17.81	58.51	143,00	-52.94
Creditor days	28.09	-50.25	56.46	35.20	41.76	125,00	-77.53
SHORT TERM STABILITY
Current ratio	1.25	5.93	1.18	0	1.18	6,00	-86.11
Liquidity ratio / acid ratio	1	5.26	0.95	6.74	0.89	4,00	-75.00
Current debt ratio	7.67	-30.02	10.96	-0.81	11.05	9,00	-14.78
Liquidity ratio reprocessed	-	-	-	-	-	-	-
LONG TERM STABILITY
Gearing	453.40	79.60	252.45	-43.67	448.14	358,00	26.65
Equity in percentage	10.15	34.44	7.55	1.21	7.46	-3.198,00	0.32
Total debt ratio	8.85	-27.70	12.24	-1.37	12.41	10,00	-11.50

Payment Information

Amount	-
Details	-
Payment expectations
Payment expectation days	28.09
Day sales outstanding	67.30
Industry comparison
Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment expectation days	165.34
Industry average day sales outstanding	127.04
Industry quartile analysis
Payment expectations
Company result	28.09
Lower	134.36
Median	84.93
Upper	45.55

Day sales outstanding
Company result	67.30
Lower	112.48
Median	59.01
Upper	28.09

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

Protested bills

Drawee name	-
Address	-
Bill amount	-
Bill currency	-
Maturity of bill	-
Name of drawer	-
City of drawer	-
NSSO details
Business number	462514806
Name of defendant	-
Legal form of defendant	-
Date of summons	-
Labour court	-
Bankruptcy details

Bankruptcy detail

There is no bankruptcy data against this company

Court Data

There is no data for this company

Director details

Name	SAMIR RAVJIBHAI KHADELA
Position	Principal Manager
Start Date	23/05/2010
Street	37 QUINTEN MATSIJSLEI ANTWERPEN
Post code	2018
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.78
UK Pound	1	Rs.99.29
Euro	1	Rs.78.16

INFORMATION DETAILS

Report Prepared by :

PDT

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.