MIRA INFORM REPORT

Report No. :	310228
Report Date :	26.02.2015

IDENTIFICATION DETAILS

Name :	CRAFT DIAMONDS BVBA
Registered Office :	Hoveniersstraat  30-Bus  114 2018 Antwerpen
Country :	Belgium
Financials (as on) :	31.12.2013
Date of Incorporation :	29.11.2012
Com. Reg. No.:	501770310
Legal Form :	Private Limited Company (BL/LX)
LINE OF BUSINESS :	WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.
No. of Employee :	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
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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
Belgium	A2	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 501770310

Branche Unit Number 2214601951

Company name CRAFT DIAMONDS BVBA

Address HOVENIERSSTRAAT 30-BUS 114

2018 ANTWERPEN

Number of staff 0

Date of establishment 29/11/2012

Telephone number 032338087

Fax number

Commentary

No employees are recorded for this business.

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

Working Capital is a negative amount during the latest trading period.

Accounts

DATE  OF  LATEST  ACCOUNTS	TURNOVER	PROFIT  BEFORE  TAX	NET  WORTH	WORKING  CAPITAL
31/12/2013		27,662	36,842	-39,651
ACCOUNTS
DATE  OF  LATEST  ACCOUNTS	BALANCE  TOTAL	NUMBER  OF  EMPLOYEES	CAPITAL	CASHFLOW
31/12/2013	5,844,640	0	18,600	25,547

Trends

Profitability	-
Liquidity	-
Net  worth	-

Payment expectations

Past  payments			Payment  expectation  days	-
Industry  average  payment	126.94		Industry  average  day  sales	186.05
expectation  days		outstanding
Day  sales  outstanding	-

Court data summary

BANKRUPTCY DETAILS

Court action type no

PROTESTED BILLS

Bill amount -

NSSO DETAILS

Date of summons -

Company information

Business  number	501770310	Company  name	CRAFT  DIAMONDS  BVBA
Fax  number		Date  founded	29/11/2012
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	VAT  Number	BE.0501.770.310  Check  VAT
	other  precious  stones		number
Belgian  Bullettin  of  Acts	moniteur  belge

Contractor details

Registered  contractor	-
number
Contractor  description	-
Date  struck  off  register
PERSONNEL  (NSSO  CLASSIFICATION)
Code	-
Description	-

JOINT INDUSTRIAL COMMITTEE (JIC)

Significant  Events

Event  Date	08/12/2014
Event  Description	authority  appointed
Event  Details	Commentaar  09-12-2014:  Toekenning  van  de  volgende  machten  vanaf  09/12/2014  aan  Patel
	Jinalbahen  om  afzonderlijk  op  te  treden  :  de  dagelijkse  briefwisseling  te  ondertekenen  en  alle handelingen  die  betrekking  hebben  op  het  beheer  van  de  dage

Event  Date	08/12/2014
Event  Description	authority  appointed
Event  Details	lijkse  zaken  van  de  commerciële  en  administratieve  diensten  van  de  maatschappij.

Company accounts

Assets
Annual  accounts	31-12-2013
Weeks	57
Currency	EUR
Total  fixed  assets	193,577
Intangible  fixed  assets	0
Tangible  fixed  assets	193,577
Land  &  building	182,949
Plant  &  machinery	-
Furniture  &  Vehicles	10,628
Leasing  &  Other  Similar  Rights	-
Other  tangible  assets	0
Financial  fixed  assets	-
Total  current  assets	5,651,063
Inventories	2,372,793
Raw  materials  &  consumables	-
Work  in  progress	0
Finished  goods	0
Other  stocks	2,372,793
Trade  debtors	3,268,134
Other  amounts  receivable	1,540
Cash	8,596
Miscellaneous  current  assets	0
Total  Assets	5,844,640
Liabilities
Total  shareholders  equity	36,842
Issued  share  capital	18,600
Share  premium  account	-
Revaluation  reserve	-
Reserves	18,242
Provisions  for  Liabilities  &  Charges	0
Deffered  taxes	-
Creditors	5,807,798
Other  long  term  loans	117,084
Long  term  group  loans	-
Other  long  term  liabilities	0
Total  long  term  debts	117,084
Current  portion  of  long  term  debt	11,844
Financial  debts	-
Trade  creditors	5,209,680
Amounts  Payable  for  Taxes,  Remuneration  &  Social  Security	9,446
Miscellaneous  current  liabilities	459,744
Total  current  liabilities	5,690,714
Total  Liabilities	5,844,640

RATIO  ANALYSIS
TRADING  PERFORMANCE
Profit  Before  Tax	-
Return  on  capital  employed	17.97
Return  on  total  assets  employed	0.47
Return  on  net  assets  employed	75.08
Sales  /  net  working  capital	-
Stock  turnover  ratio	-
Creditor  days	-
Debtor  days	-
SHORT  TERM  STABILITY
Current  ratio	0.99
Liquidity  ratio  /  acid  ratio	0.58
Current  debt  ratio	154.46
Liquidity  ratio  reprocessed	-
Cashflow	25,547
Net  worth	36,842
LONG TERM STABILITY
Gearing	349.95
Equity  in  percentage	0.63
Total  debt  ratio	157.64
Working  capital	-39,651

PROFIT & LOSS
Operating  Income	-
Turnover	-
Total  operating  expenses	-
Gross  Operating  Margin	55,464
Operating  Charges	-
Employee  costs	154
Wages  and  salary	-
Employee  pension  costs	-
Social  security  contributions	-
Other  employee  costs	154
Director  remuneration	-
Amortization  and  depreciation	7,305
Operating  result	44,318
Total  financial  income	1
Total  financial  expenses	16,656
Results  on  ordinary  operations  before  taxation	27,662
Extraordinary  Income	-
Extraordinary  Charges	-
Extraordinary  items	0
Results  for  the  Year  Before  Taxation	27,662
Other  appropriations	-
Taxation	9,420
Results  on  ordinary  operations  after  taxation	18,242
Net  result	18,242
Profit  (Loss)  for  the  Year  to  be  appropiated	18,242
Dividends	-

Social Balance Sheet Details

Social  Balance  Sheet	Total
During  the  reporting  year
Full-time  Employees	-
Part-time  Employees	-
Total  Fte  Employees	-
Number  of  hours  worked
Full-time  Employees	-
Part-time  Employees	-
Total	-
Personnel  Charges
Full-time  Employees	-
Part-time  Employees	-
Total	-
Benefits  In  Addition  To  Wages	-
During  the  previous  reporting  year
Average  number  employees  in  Fte	-
Actual  working  hours	-
Personnel  Charges	-
Benefits  In  Addition  To  Wages	-

Type  of  Contract	Full-Time	Part-Time	Total  Fte
Unlimited  Duration	-	-	-
Contracts
Limited  Duration  Contracts	-	-	-
Contracts  For  Specific  Work	-	-	-
Contracts  Regarding	-	-	-
Substitution

Gender and Education Level
Men	Full-Time	Part-Time	Total  Fte
Primary education	-	-	-
Secondairy education
Higher education (non university)	-	-	-
Higher education (university)	-	-	-

Women	Full-Time	Part-Time	Total  Fte
Primary education	-	-	-
Secondairy education
Higher education (non university)	-	-	-
Higher education (university)	-	-	-

Working Category	Full-Time	Part-Time	Total  Fte
Management	-	-	-
White collar worker
Blue collar worker	-	-	-
Other	-	-	-

Temporary  personnel	Total
Average  number  of  temporary  staff	-
Actual  working  hours	-
Cost  of  temporary  staff	-

New  staff  and  leavers	Full-Time	Part-Time	Total  Fte
New  Starters	-	-	-
Leavers	-	-	-

Total  of  formal  continuing  vocational  training  initiatives for  workers  paid  by  the  employer
	Male	Female
Number  of  employees	-	-
Number  of  training  hours	-	-
Net  costs  for  enterprise	-	-
Total  of  less  formal  and  informal  continuing  vocational
training  initiatives  for  workers  paid  by  the  employer	Male	Female
Number  of  employees	-	-
Number  of  training  hours	-	-
Net  costs  for  enterprise	-	-
Total  of  initial  training  initiatives  at  the  expense  of  the
employer	Male	Female
Number  of  employees	-	-
Number  of  training  hours	-	-
Net  costs  for  enterprise	-	-

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 -

Day sales outstanding -

INDUSTRY COMPARISON

Activity code 46761

Activity description Wholesale of diamonds and other precious stones

Industry average payment

expectation days 126.94

Industry average day sales

Outstanding 186.05

INDUSTRY QUARTILE ANALYSIS

Payment expectations

Company result -

Lower 120.44

Median 74.63

Upper 45.88

DAY SALES OUTSTANDING

Company result -

Lower 102.27

Median 54.07

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	VASHISTHA  DASHRATHBHAI  PATEL
Position	Principal  Manager
Start  Date	01/04/2014
Street	48 VAN  EYCKLEI  ANTWERPEN
Post  code	2018
Country	Belgium

FORMER DIRECTOR DETAILS

Name	OM  PRAKASH  AGRAWAL
Position	Principal  Manager
Start  Date	29/11/2012
End  Date	31/03/2014
Date  of  birth	01/05/1955
Street	343 PRINS  BOUDEWIJNLAAN  EDEGEM
Post  code	2650
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.05
UK Pound	1	Rs.96.03
Euro	1	Rs.70.43

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	ANK

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.