MIRA INFORM REPORT

Report No. :	328070
Report Date :	22.06.2015

IDENTIFICATION DETAILS

Name :	EMOND BVBA

Registered Office :	Waterwilgweg 6, 2050 Antwerpen

Country :	Belgium

Financials (as on) :	31.03.2014

Date of Incorporation :	26.06.1998

Legal Form :	Private Limited Company

Line of Business :	Subject is engaged in non-specialised wholesale trade [We tried to confirm / obtain the detailed activity but the same is not available from any sources]

No. of Employee :	1

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 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 – 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 name

EMOND BVBA

Company summary

Business number	463701471
Branche Unit Number	2089259937
Company name	EMOND BVBA
Address	WATERWILGWEG 6
	2050 ANTWERPEN
Number of staff	1
Date of establishment	26/06/1998
Telephone number
Fax number	032540428

Commentary

The business was established over 16 years ago. The business has 1 employees.

The business has been at the address for over 14 years. A 29% growth in Total Assets occurred during the latest trading period. Pre-tax profits increased by 44% compared to the previous trading period. The business saw an increase in their Cash Balance of 32% during the latest trading period.

Accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/03/2014	0	20,884	308,055	233,295
31/03/2013	0	14,428	295,969	218,006
31/03/2012	0	10,617	284,498	200,963
Accounts
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/03/2014	4,230,952	1	183,600	15,290
31/03/2013	3,264,877	0	183,600	18,128
31/03/2012	2,490,403	0	183,600	15,615

Payment expectations

Past payments		Payment expectation days	-
Industry average payment	89.45	Industry average day sales	117.09
expectation days		outstanding
Day sales outstanding	-

Court data summary

BANKRUPTCY DETAILS

Court action type

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)
JIC Code	226
Description category	JC employees international trade, transport & related activities

Significant Events

Event Date	27/11/2013
Event Description
Event Details	Rechtzetting akte dd. 30 juni 2013 : Rakesh Kumar Surana werd verkeerdelijk benoemd als
	zaakvoerder.

Company accounts

Assets
Annual accounts	31-03-2014	%	31-03-2013	%	31-03-2012	%	31-03-2011	%	31-03-2010
Weeks	52		52		52		52		52
Currency	EUR		EUR		EUR		EUR		EUR
Total fixed assets	74,760	-4.11	77,963	-6.67	83,535	-6.11	88,972	-6.77	95,436
Intangible fixed assets	0	-	0	-	0	-	0	-	0
Tangible fixed assets	74,698	-4.11	77,901	-6.68	83,473	-6.12	88,910	-6.78	95,374
Land & building	73,900	-3.41	76,510	-3.30	79,120	-3.19	81,730	-3.09	84,340
Plant & machinery	0	-	0	-	0	-	0	-	0
Furniture & Vehicles	798	-42.62	1,391	-68.04	4,353	-39.37	7,180	-34.93	11,034
Leasing & Other Similar Rights	0	-	0	-	0	-	0	-	0
Other tangible assets	0	-	0	-	0	-	0	-	0
Financial fixed assets	62	0	62	0	62	0	62	0	62
Total current assets	4,156,192	30.41	3,186,914	32.41	2,406,868	76.19	1,366,056	52.58	895,290
Inventories	213,869	-18.22	261,513	-49.25	515,320	149	206,859	-67.16	629,885
Raw materials & consumables	-	-	-	-	-	-	-	-	-
Work in progress	0	-	0	-	0	-	0	-	0
Finished goods	0	-	0	-	0	-	0	-	0
Other stocks	213,869	-18.22	261,513	-49.25	515,320	149	206,859	-67.16	629,885
Trade debtors	3,561,463	27.58	2,791,619	78.00	1,568,331	47.82	1,060,980	526	169,477
Other amounts receivable	6,933	-	0	-100	198,139	-	0	-	0
Cash	2,944	32.78	2,217	-95.64	50,899	3278	1,506	-94.85	29,260
Miscellaneous current assets	370,984	181	131,565	77.36	74,179	-23.30	96,711	45.06	66,668
Total Assets	4,230,952	29.59	3,264,877	31.10	2,490,403	71.16	1,455,028	46.86	990,727

Liabilities

Total shareholders equity	308,055	4.08	295,969	4.03	284,498	3.28	275,460	1.85	270,463
Issued share capital	183,600	0	183,600	0	183,600	0	183,600	0	183,600
Share premium account	0	-	0	-	0	-	0	-	0
Revaluation reserve	0	-	0	-	0	-	0	-	0
Reserves	124,455	10.76	112,369	11.37	100,898	9.84	91,860	5.75	86,863
Provisions for Liabilities & Charges	0	-	0	-	0	-	0	-	0
Deffered taxes	0	-	0	-	0	-	0	-	0
Creditors	3,922,897	32.13	2,968,909	34.59	2,205,905	87.01	1,179,569	63.77	720,264
Other long term loans	0	-	0	-	0	-	0	-	0
Long term group loans	-	-	-	-	-	-	-	-	-
Other long term liabilities	0	-	0	-	0	-	0	-	0
Total long term debts	0	-	0	-	0	-	0	-	0
Current portion of long term debt	0	-	0	-	0	-	0	-	0
Financial debts	3,171,853	598	453,777	-59.29	1,114,655	22.39	910,758	49.98	607,266
Trade creditors	695,659	-71.46	2,437,810	125	1,081,801	697	135,573	27.38	106,428
Amounts Payable for Taxes, Remuneration	47,121	-34.00	71,395	4423	1,578	-98.79	130,450	3420	3,705
& Social Security
Miscellaneous current liabilities	8,264	39.46	5,926	-24.71	7,870	182	2,788	-2.70	2,865
Total current liabilities	3,922,897	32.13	2,968,909	34.59	2,205,905	87.01	1,179,569	63.77	720,264
Total Liabilities	4,230,952	29.59	3,264,877	31.10	2,490,403	71.16	1,455,028	46.86	990,727

ratio analysis
TRADING PERFORMANCE
Profit Before Tax	-	-	-	-	-	-	-	-	-
Return on capital employed	6.78	39.22	4.87	30.56	3.73	72.69	2.16	-59.09	5.28
Return on total assets employed	0.49	11.36	0.44	2.33	0.43	4.88	0.41	-71.53	1.44
Return on net assets employed	6.78	39.22	4.87	30.56	3.73	72.69	2.16	-59.09	5.28
Sales / net working capital	-	-	-	-	-	-	-	-	-
Stock turnover ratio	-	-	-	-	-	-	-	-	-
Creditor days	-	-	-	-	-	-	-	-	-
Debtor days	-	-	-	-	-	-	-	-	-
SHORT TERM STABILITY
Current ratio	1.06	-0.93	1.07	-1.83	1.09	-6.03	1.16	-6.45	1.24
Liquidity ratio / acid ratio	1.00	1.01	0.99	15.12	0.86	-12.24	0.98	164	0.37
Current debt ratio	12.73	26.92	10.03	29.42	7.75	81.07	4.28	60.90	2.66
Liquidity ratio reprocessed	-	-	-	-	-	-	-	-	-
Cashflow	15,290	-15.66	18,128	16.10	15,615	36.24	11,461	-37.82	18,433
Net worth	308,055	4.08	295,969	4.03	284,498	3.28	275,460	1.85	270,463
LONG TERM STABILITY
Gearing	1,029.64	571	153.32	-60.87	391.80	18.50	330.63	47.25	224.53
Equity in percentage	7.28	-19.74	9.07	-20.58	11.42	-39.67	18.93	-30.66	27.30
Total debt ratio	12.73	26.92	10.03	29.42	7.75	81.07	4.28	60.90	2.66
Working capital	233,295	7.01	218,006	8.48	200,963	7.76	186,487	6.55	175,026

Profit & loss
Operating Income	-	-	-	-	-	-	-	-	-
Turnover	0	-	0	-	0	-	0	-	0
Total operating expenses	-61,347	-7.35	-57,146	-61.36	-35,415	-22.51	-28,907	79.56	-36,334
Gross Operating Margin	101,387	50.75	67,256	48.50	45,290	16.91	38,739	-56.98	90,053
Operating Charges	-	-	-	-	-	-	-	-	-
Employee costs	20,162	-	0	-100	90	-40.86	152	-99	39,799
Wages and salary	17,119	-	0	-	0	-	0	-100	31,025
Employee pension costs	0	-	0	-	0	-	0	-	0
Social security contributions	2,056	-	0	-	0	-	0	-100	7,136
Other employee costs	987	-	0	-100	90	-40.86	152	-90.71	1,638
Director remuneration	-	-	-	-	-	-	-	-	-
Amortization and depreciation	3,203	-51.89	6,657	1.24	6,576	1.73	6,464	-2.07	6,601
Operating result	61,347	7.35	57,146	61.36	35,415	22.51	28,907	-20.44	36,334
Total financial income	0	-100	5	-58.40	12	-	0	-100	94
Total financial expenses	40,464	-5.29	42,722	72.20	24,810	8.03	22,965	3.72	22,142
Results on ordinary operations before taxation	20,884	44.74	14,428	35.90	10,617	78.67	5,942	-58.41	14,287
Extraordinary Income	0	-	0	-	0	-	0	-	0
Extraordinary Charges	0	-	0	-	0	-	0	-	0
Extraordinary items	0	-	0	-	0	-	0	-	0
Results for the Year Before Taxation	20,884	44.74	14,428	35.90	10,617	78.67	5,942	-58.41	14,287
Other appropriations	-	-	-	-	-	-	-	-	-
Taxation	8,797	197	2,958	87.40	1,578	66.99	945	-61.50	2,455
Results on ordinary operations after taxation	12,087	5.37	11,470	26.90	9,039	80.88	4,997	-57.77	11,832
Net result	12,087	5.37	11,470	26.90	9,039	80.88	4,997	-57.77	11,832
Profit (Loss) for the Year to be appropiated	12,087	5.37	11,470	26.90	9,039	80.88	4,997	-57.77	11,832
Dividends	0	-	0	-	0	-	0	-	0

Social Balance Sheet Details

Social Balance Sheet		Total
During the reporting year
ended 31-03-2014
Full-time Employees		1
Part-time Employees		0
Total Fte Employees		1
Number of hours worked
Full-time Employees		912
Part-time Employees		0
Total		912
Personnel Charges
Full-time Employees		20,162
Part-time Employees		0
Total		20,162
Benefits In Addition To Wages		-
During the previous reporting year
Average number employees in Fte		0
Actual working hours		0
Personnel Charges		0
Benefits In Addition To Wages		-
Type of Contract	Full-Time	Part-Time	Total Fte
Unlimited Duration	0	0	0
Contracts
Limited Duration Contracts	1	0	1
Contracts For Specific Work	0	0	0
Contracts Regarding	0	0	0
Substitution

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

Working Category	Full-Time	Part-Time	Total Fte
Management	0	0	0
White collar worker	1	0	1
Blue collar worker	0	0	0
Other	0	0	0
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	1	0	1
Leavers	0	0	0

Total of formal continuing vocational training initiatives
for workers paid by the employer	Male	Female
Number of employees	0	0
Number of training hours	0	0
Net costs for enterprise	0	0
Total of less formal and informal continuing vocational
training initiatives for workers paid by the employer	Male	Female
Number of employees	0	0
Number of training hours	0	0
Net costs for enterprise	0	0
Total of initial training initiatives at the expense of the
employer	Male	Female
Number of employees	0	0
Number of training hours	0	0
Net costs for enterprise	0	0

Industry comparison
Activity code	46900
Activity description	Non-specialised wholesale trade
industry average credit rating	60.59
Industry average credit limit	26717.87

Payment Information

Suspension of payments / moratorium history
Amount	-
Details	-

Payment expectations
Payment expectation days	-
Day sales outstanding	-

Industry comparison
Activity code	46900
Activity description	Non-specialised wholesale trade
Industry average payment expectation days	89.45
Industry average day sales outstanding	117.09

Industry quartile analysis Payment expectations

Company result	-
Lower	93.59
Median	52.91
Upper	18.03

Day sales outstanding
Company result	-
Lower	85.37
Median	40.27
Upper	16.30

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

Business number	Company name	Date of accounts
416702793	VARIAN CHROMPACK BELGIUM BVBA	02/10/1998

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	BISHNU PRASAD AGRAWAL
Position	Principal Manager
Start Date	01/02/2014
Street	165 BLANCEFLOERLAAN ANTWERPEN
Post code	2050
Country	Belgium

Name	RAKESH KUMAR
Position	Principal Manager
Start Date	01/07/2013
Street	14 HUGUES C. PERNATHLAAN ANTWERPEN
Post code	2050
Country	Belgium

Name	SHAILESH SHANKAR GOTHAL
Position	Principal Manager
Start Date	17/07/2012
Street	165 BLANCEFLOERLAAN ANTWERPEN
Post code	2050
Country	Belgium

Name	SETHIA JAIDEEP
Position	Principal Manager
Start Date	01/08/2004
Street	65 BLANCEFLOERLAAN ANTWERPEN
Post code	2050
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.82
UK Pound	1	Rs.101.26
Euro	1	Rs.72.36

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	ASH

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 name

Company summary

Commentary

Accounts

Payment expectations

Court data summary

Company information

Contractor details

Company accounts

Social Balance Sheet Details

Industry comparison

Payment Information

Shareholder Details

Companies that match this address

Linked Companies

Director details

Unit