MIRA INFORM REPORT

Report No. :	305477
Report Date :	30.01.2015

IDENTIFICATION DETAILS

Name :	PERCEPT DIAMONDS BVBA
Registered Office :	Pelikaanstraat 62 2018 Antwerpen
Country :	Belgium
Financials (as on) :	31.12.2013
Date of Incorporation :	26.03.2010
Com. Reg. No.:	825191569
Legal Form :	Private Limited Company
Line of Business :	Wholesaler of Diamond and Other Precious Stones.
No. of Employee :	01 (31.12.2013)

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 :	Sloe 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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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 825191569

Branche Unit Number 2187021584

Company name PERCEPT DIAMONDS BVBA

Address PELIKAANSTRAAT 62

2018 ANTWERPEN

Number of staff 01 (31.12.2013)

Date of establishment 26/03/2010

Telephone number 033454872

Fax number 032313336

Commentary

The business was established over 4 years ago.

The business has 1 employees.

The business has been at the address for over 4 years.

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

Pre-tax profits decreased by 46% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 84% during the latest trading period.

Accounts

DATE OF LATEST ACCOUNTS	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2013	26,714	596,095	783,326
31/12/2012	50,206	572,748	783,875
31/12/2011	15,436	39,041	898,028

DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2013	1,726,315	01	511,809	26,953
31/12/2012	2,199,743	0	511,809	43,212
31/12/2011	2,209,769	0	18,600	13,200

Payment expectations

Industry average payment expectation Days

124.18

Industry average day sales outstanding

140.26

Company information

Business number	825191569	Company name	PERCEPT DIAMONDS BVBA
Fax number	032313336	Date founded	26/03/2010
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	Wholesaler of diamonds and other precious stones	VAT Number	BE.0825.191.569
Belgian Bullettin of Acts Publications	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 31/01/2012

Event Description

Event Details Toekenning van 1791 nieuwe aandelen aan Shah Nami.

Company accounts

ASSETS

Annual accounts	31-12-2013	%	31-12-2012	%	31-12-2011	%	31-12-2010
Weeks	52		52		52		40
Currency	EUR		EUR		EUR		EUR
Total fixed assets	24,246	21.00	20,039	39.73	14,341	25.02	11,471
Intangible fixed assets	0	-	0	-	0	-	0
Tangible fixed assets	21,058	11.71	18,850	43.31	13,153	27.92	10,282
Land & building	-	-	-	-	-	-	-
Plant & machinery	17,225	11.93	15,389	70.74	9,013	18.07	7,633
Furniture & Vehicles	3,833	10.72	3,462	-16.39	4,140	56.30	2,649
Leasing & Other Similar Rights	-	-	-	-	-	-	-
Other tangible assets	0	-	0	-	0	-	0
Financial fixed assets	3,189	168	1,189	-0.04	1,189	0.04	1,189
Total current assets	1,702,069	-21.91	2,179,704	-0.72	2,195,428	9.26	2,009,313
Inventories	1,238,832	30.08	952,351	74.39	546,112	227	166,807
Raw materials & consumables	-	-	-	-	-	-	-
Work in progress	0	-	0	-	0	-	0
Finished goods	0	-	0	-	0	-	0
Other stocks	1,238,832	30.08	952,351	74.39	546,112	227	166,807
Trade debtors	449,757	-61.48	1,167,672	-24.63	1,549,240	-13.03	1,781,297
Other amounts receivable	2,350	-19.60	2,923	-24.34	3,863	351	855
Cash	8,382	-84.53	54,191	-42.27	93,871	60.23	58,585
Miscellaneous current assets	2,750	7.10	2,567	9.58	2,343	32.45	1,769
Total Assets	1,726,315	-21.52	2,199,743	-0.45	2,209,769	9.35	2,020,784

LIABILITIES

Total shareholders equity	596,095	4.08	572,748	1367	39,041		41.74	27,544
Issued share capital	511,809	0 511,809		2651	18,600	0			18,600
Share premium account	-	- -		-	-	-			-
Revaluation reserve	-	- -		-	-	-			-
Reserves	84,286	38.31 60,939		198	20,441	128			8,944
Provisions for Liabilities & Charges	0	- 0		-	0	-			0
Deffered taxes	-	- -		-	-	-			-
Creditors	1,130,221	-30.53 1,626,995		-25.05	2,170,729	8.90			1,993,240
Other long term loans	211,477	231,166 -			873,329	3.27			845,682
Long term group loans	-				-	-			-
Other long term liabilities	0	0 231,166			-1	-			0
Total long term debts	211,477				873,328	3.27			845,682
Current portion of long term debt	-	-		-	-	-			-
Financial debts	160,000	521,653		897	52,278	-			-
Trade creditors	747,507	-12.57 855,009
Amounts Payable for Taxes, Remuneration & Social Security	6,485	-44.92 11,773
Miscellaneous current liabilities	4,752	-35.74 7,395		7.59
Total current liabilities	918,744	-34.18 1,395,829
Total Liabilities	1,726,315	-21.52 2,199,743		-0.45	2,209,769	9.35			2,020,784

RATIO ANALYSIS

TRADING PERFORMANCE
Profit Before Tax	-	-	-	-	-	-	-
Return on capital employed	3.31	-47.04	6.25	269	1.69	26.12	1.34
Return on total assets employed	1.55	-32.02	2.28	225	0.70	20.69	0.58
Return on net assets employed	4.48	-48.92	8.77	-77.82	39.54	-7.10	42.56
Sales / net working capital	-	-	-	-	-	-	-
Stock turnover ratio	-	-	-	-	-	-	-
Creditor days	-	-	-	-	-	-	-
Debtor days	-	-	-	-	-	-	-
SHORT TERM STABILITY
Current ratio	1.85	18.59	1.56	-7.69	1.69	-3.43	1.75
Liquidity ratio / acid ratio	0.50	-43.18	0.88	-30.71	1.27	-21.12	1.61
Current debt ratio	1.54	-36.89	2.44	-92.66	33.23	-20.24	41.66
Liquidity ratio reprocessed	-	-	-	-	-	-	-
Cashflow	26,953	-37.63	43,212	227	13,200	24.40	10,611
Net worth	596,095	4.08	572,748	1367	39,041	41.74	27,544
LONG TERM STABILITY
Gearing	62.32	-52.59	131.44	-94.46	2,370.86	-22.78	3,070.30
Equity in percentage	34.53	32.60	26.04	1371	1.77	30.15	1.36
Total debt ratio	1.90	-33.10	2.84	-94.89	55.60	-23.17	72.37
Working capital	783,326	-0.07	783,875	-12.71	898,028	4.21	861,755

PROFIT AND LOSS

Operating Income	-	-	-	-	-	-	-
Turnover	-	-	-	-	-	-	-
Total operating expenses	-	-	-	-	-	-	-
Gross Operating Margin	88,977	-16.26	106,257	206	34,711	87.21	18,542
Operating Charges	-	-	-	-	-	-	-
Employee costs	7,637	-39.43	12,610	-	-	-	-
Wages and salary	6,084	-45.77	11,218	-	-	-	-
Employee pension costs	-	-	-	-	-	-	-
Social security contributions	552	44.78	381	-	-	-	-
Other employee costs	1,002	-0.85	1,010	-	0	-	0
Director remuneration	-	-	-	-	-	-	-
Amortization and depreciation	3,606	32.85	2,714	59.36	1,703	2.14	1,667
Operating result	75,248	-15.77	89,340	179	31,985	93.53	16,527
Total financial income	1	-98.22	66	-17.94	80	31900	0
Total financial expenses	48,535	23.82	39,199	135	16,628	246	4,803
Results on ordinary operations before taxation	26,714	-46.79	50,206	225	15,436	31.66	11,724
Extraordinary Income	-	-	-	-	-	-	-
Extraordinary Charges	-	-	-	-	-	-	-
Extraordinary items	0	-	0	-	0	-	0
Results for the Year Before Taxation	26,714	-46.79	50,206	225	15,436	31.66	11,724
Other appropriations	-	-	-	-	-	-	-
Taxation	3,367	-65.32	9,708	146	3,940	41.73	2,780
Results on ordinary operations after taxation	23,347	-42.35	40,498	252	11,496	28.53	8,944
Net result	23,347	-42.35	40,498	252	11,497	28.54	8,944
Profit (Loss) for the Year to be appropiated	23,347	-42.35	40,498	252	11,497	28.54	8,944
Dividends	-	-	-	-	-	-	-

Social Balance Sheet Details

Social Balance Sheet Details

Social Balance Sheet Total

During the reporting year ended 31-12-2013

Full-time Employees -

Part-time Employees 1

Total Fte Employees 0

Number of hours worked

Full-time Employees -

Part-time Employees 760

Total 760

Personnel Charges

Full-time Employees -

Part-time Employees 7,637

Total 7,637

Benefits In Addition To Wages -

During the previous reporting year

Average number employees in Fte 0

Actual working hours 824

Personnel Charges 12,610

Benefits In Addition To Wages -

Gender and Education
Level
Men	Full-Time	Part-Time	Total Fte
Primary education	-	1	0
Secondary education - - -
Higher education (non	-	-	-
university)
Higher education	-	-	-
(university)
Women	Full-Time	Part-Time	Total Fte
Primary education - - -
Secondary education - - -
Higher education (non	-	-	-
university)
Higher education	-	-	-
(university)

Working Category	Full-Time Part-Time Total Fte
Management - - -
White collar worker - - -
Blue collar worker	- 1 0
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 Male Female

for workers paid by the employer

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 64.48
rating

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	124.18
expectation days
Industry average day sales	140.26
outstanding

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

Individual Shareholders

Forename	Nami	Middle name	-
Surname	Shah
SHAREHOLDER DETAILS
Start date	12/06/2012(estimated)	End date	-
Percentage owned SHAREHOLDER ADDRESS	-
Street name	Groenenborgerlaan	House number	65
Minor town	Wilrijk	Postal town	Antwerpen
Post code	2610	Country	Belgium

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	SHAILESH CHAMPAKLAL MEHTA
Position	Principal Manager
Start Date	21/04/2010
Date of birth	09/12/1949
Street	65 GROENENBORGERLAAN ANTWERPEN
Post code	2610
Country	Belgium
Name	NEHAL SHAILESH MEHTA
Position	Principal Manager
Start Date	21/04/2010
Street	65 GROENENBORGERLAAN ANTWERPEN
Post code	2610
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.50
UK Pound	1	Rs.93.12
Euro	1	Rs.69.33

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	MNL

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.