MIRA INFORM REPORT

Report No. :	332700
Report Date :	20.07.2015

IDENTIFICATION DETAILS

Name :	GEM VENTUREZ BVBA

Registered Office :	Schupstraat 1 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2013

Date of Incorporation :	10.07.2012

Com. Reg. No.:	847672607

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 :

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the the budget deficit was 3.2% of GDP. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

Source : CIA

Company summary

Business number	847672607
Branche Unit Number	2211653250
Company name	GEM VENTUREZ BVBA
Address	SCHUPSTRAAT 1
	2018 ANTWERPEN
Number of staff	0
Date of establishment	10/07/2012
Telephone number
Fax number

Commentary

No employees are recorded for this business.

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

There has been no significant change in the business's credit rating.

There has been no significant change in the business's credit limit.

Accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2013		6,848	10,788	10,788

Accounts

DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2013	-	0	6,200	4,588

Payment expectations

Past payments		Payment expectation days	-
Industry average payment	104.58	Industry average day sales	182.55
expectation days		outstanding
Day sales outstanding	-

Court data summary

BANKRUPTCY DETAILS

Court action type no

PROTESTED BILLS

Bill amount –

NSSO DETAILS

Date of summons –

Contractor details

Registered contractor	-
number
Contractor description	-
Date struck off register
Personnel (NSSO classification)
Code	-
Description	-
Joint Industrial Committee (JIC)
Company accounts

Company accounts

Annual accounts	31-12-2013
Weeks	75
Currency	EUR
Total fixed assets	-
Intangible fixed assets	0
Tangible fixed assets	-
Land & building	-
Plant & machinery	-
Furniture & Vehicles	-
Leasing & Other Similar Rights	-
Other tangible assets	0
Financial fixed assets	-
Total current assets	1,242,208
Inventories	866,802
Raw materials & consumables	-
Work in progress	0
Finished goods	0
Other stocks	866,802
Trade debtors	365,362
Other amounts receivable	9,150
Cash	895
Miscellaneous current assets	0
Total Assets	1,242,208
Liabilities
Total shareholders equity	10,788
Issued share capital	6,200
Share premium account	-
Revaluation reserve	-
Reserves	4,588
Provisions for Liabilities & Charges	0
Deffered taxes	-
Creditors	1,231,420
Other long term loans	-
Long term group loans	-
Other long term liabilities	0
Total long term debts	0
Current portion of long term debt	-
Financial debts	-
Trade creditors	1,225,421
Amounts Payable for Taxes, Remuneration & Social Security	2,260
Miscellaneous current liabilities	3,739
Total current liabilities	1,231,420
Total Liabilities	1,242,208
ratio analysis
TRADING PERFORMANCE
Profit Before Tax	-
Return on capital employed	63.48
Return on total assets employed	0.55
Return on net assets employed	63.48
Sales / net working capital	-
Stock turnover ratio	-
Creditor days	-
Debtor days	-
SHORT TERM STABILITY
Current ratio	1.01
Liquidity ratio / acid ratio	0.30
Current debt ratio	114.14
Liquidity ratio reprocessed	-
Cashflow	4,588
Net worth	10,788
LONG TERM STABILITY
Gearing	-
Equity in percentage	0.87
Total debt ratio	114.14
Working capital	10,788
Profit & loss
Operating Income	-
Turnover	-
Total operating expenses	-
Gross Operating Margin	8,439
Operating Charges	-
Employee costs	-
Wages and salary	-
Employee pension costs	-
Social security contributions	-
Other employee costs	0
Director remuneration	-
Amortization and depreciation	-
Operating result	7,249
Total financial income	-
Total financial expenses	400
Results on ordinary operations before taxation	6,848
Extraordinary Income	-
Extraordinary Charges	-
Extraordinary items	0
Results for the Year Before Taxation	6,848
Other appropriations	-
Taxation	2,260
Results on ordinary operations after taxation	4,588
Net result	4,588
Profit (Loss) for the Year to be appropiated	4,588
Dividends	-

Social Balance Sheet Details

Social Balance Sheet		Total
During the reporting year
ended 31-12-2013
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

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	104.58
Industry average day sales outstanding	182.55

Industry quartile analysis

Payment expectations
Company result	-
Lower	118.32
Median	75.64
Upper	44.92

Day sales outstanding
Company result	-
Lower	102.33
Median	54.86
Upper	25.06

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

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	GIRISH KUMAR KADEL
Position	Principal Manager
Start Date	10/10/2014
Street	28 VAN EYCKLEI ANTWERPEN
Post code	2018
Country	Belgium

Name	PARAG BHUVA
Position	Principal Manager
Start Date	01/01/2014
Street	28 VAN EYCKLEI ANTWERPEN
Post code	2018
Country	Belgium

Former director details

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.49
UK Pound	1	Rs.99.43
Euro	1	Rs.69.14

INFORMATION DETAILS

Analysis Done by :	KAS

Report Prepared by :	VNT

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.

MIRA INFORM REPORT

Company summary

Commentary

Payment expectations

Company information

Contractor details

Company accounts

Social Balance Sheet Details

Industry comparison

Payment Information

Industry quartile analysis

Shareholder Details

Group Structure

Minority Shareholders

Minority Interests

Linked Companies

Summons

Protested Bills

Bankruptcy and other legal events

Director details

Unit