MIRA INFORM REPORT

Report No. :	343179
Report Date :	01.10.2015

IDENTIFICATION DETAILS

Name :	SUPERSTONE DIAM BVBA

Registered Office :	Pelikaanstraat 62-Off 635 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2014

Date of Incorporation :	22.05.2003

Com. Reg. No.:	480459905

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 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 summary

Business number	480459905
Company name	SUPERSTONE DIAM BVBA
Address	PELIKAANSTRAAT 62-OFF 635
	2018 ANTWERPEN
Number of staff	0
Date of establishment	22/05/2003
Telephone number	032320863
Fax number	032320863

Commentary

The business was established over 12 years ago.

The business has 1 employees.

The business has been at the address for over 11 months.

The business has changed address 1 times in the last year.

Net Worth increased by 22% during the latest trading period.

A 85% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 23% compared to the previous trading period.

The business saw an increase in their Cash Balance of 22% during the latest trading period.

Accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2014		10,207	42,088	36,141
31/12/2013		8,269	34,335	34,192
31/12/2012		10,378	24,054	20,923

Accounts
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2014	2,985,090	0	18,600	8,448
31/12/2013	1,612,767	0	18,600	10,383
31/12/2012	1,537,520	0	18,600	7,117

Trends

Profitability

Liquidity

Net worth

Payment expectations

Past payments		Payment expectation days	-
Industry average payment	110.58	Industry average day sales	172.59
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)

Significant Events
Event Date	29/03/2013
Event Description	re-registered as subject to VAT tax
Event Details

Company accounts

Assets
Annual accounts	31-12-2014	%	31-12-2013	%	31-12-2012	%	31-12-2011	%	31-12-2010
Weeks	52		52		52		52		52
Currency	EUR		EUR		EUR		EUR		EUR
Total fixed assets	5,948	4053	143	-95.43	3,131	-50.71	6,352	0	6,352
Intangible fixed assets	0	-	0	-	0	-	0	-	0
Tangible fixed assets	1,948	1260	143	-95.43	3,131	-50.71	6,352	0	6,352
Land & building	-	-	-	-	-	-	-	-	-
Plant & machinery	1,440	-	-	-	-	-	474	0	474
Furniture & Vehicles	508	254	143	-95.43	3,131	-46.74	5,878	0	5,878
Leasing & Other Similar Rights	-	-	-	-	-	-	-	-	-
Other tangible assets	0	-	0	-	0	-	0	-	0
Financial fixed assets	4,000	-	-	-	-	-	-	-	-
Total current assets	2,979,143	84.74	1,612,624	5.10	1,534,389	241	449,277	0.15	448,583
Inventories	1,387,919	85.02	750,130	-7.09	807,341	506	133,109	-46.53	248,921
Raw materials & consumables	-	-	-	-	-	-	-	-	-
Work in progress	0	-	0	-	0	-	0	-	0
Finished goods	0	-	0	-	0	-	0	-	0
Other stocks	1,387,919	85.02	750,130	-7.09	807,341	506	133,109	-46.53	248,921
Trade debtors	957,267	94.86	491,265	189	169,951	-21.68	216,993	34.40	161,457
Other amounts receivable	364,424	142	150,162	22.88	122,203	76.71	69,153	-
Cash	269,533	22.08	220,789	-49.23	434,894	1348	30,022	-21.42	38,204
Miscellaneous current assets	0	-100	278	-	0	-	0		0
Total Assets	2,985,090	85.09	1,612,767	4.89	1,537,520	237	455,629	0.15	454,934

Liabilities
Total shareholders equity	42,088	22.58		34,335		42.74		24,054			17.55		20,463		3.51		19,769
Issued share capital	18,600	0		18,600		0		18,600			0		18,600		0		18,600
Share premium account	-	-		-		-		-			-		-		-		-
Revaluation reserve	-	-		-		-		-			-		-		-		-
Reserves	23,488	49.28		15,735		188		5,454			192		1,863		59.40		1,169
Provisions for Liabilities & Charges	0	-		0		-		0			-		0		-		0
Deffered taxes	-	-		-		-		-			-		-		-		-
Creditors	2,943,002	86.45		1,578,432		4.29		1,513,466			247		435,166		0		435,166
Other long term loans	-	-		-		-		-			-		-		-		-
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	-	-		-		-		-			-		-		-		-
Financial debts	-	-		1,667		0		1,667			-		-		-		-
Trade creditors	2,488,792	118		1,138,914		6.05		1,073,948			-		-		-		-
Amounts Payable for Taxes, Remuneration &	15,392	-		-		-		-			-		-		-		-
Social Security
Miscellaneous current liabilities	438,818	0.22		437,851		0		437,851			0.62		435,166		0		435,166
Total current liabilities	2,943,002	86.45		1,578,432		4.29		1,513,466			247		435,166		0		435,166
Total Liabilities	2,985,090	85.09		1,612,767		4.89		1,537,520			237		455,629		0.15		454,934
ratio analysis
TRADING PERFORMANCE
Profit Before Tax			-		-		-		-	-		-		-		-		-
Return on capital employed			24.25		0.71		24.08		-44.18	43.14		1172		3.39		-83.18		20.15
Return on total assets employed			0.34		-33.33		0.51		-23.88	0.67		346		0.15		-82.95		0.88
Return on net assets employed			24.25		0.71		24.08		-44.18	43.14		1172		3.39		-83.18		20.15
Sales / net working capital			-		-		-		-	-		-		-		-		-
Stock turnover ratio			-		-		-		-	-		-		-		-		-
Creditor days			-		-		-		-	-		-				-		-
Debtor days			-		-		-		-	-		-				-		-
SHORT TERM STABILITY
Current ratio			1.01		-0.98		1.02		0.99	1.01		-1.94		1.03		0		1.03
Liquidity ratio / acid ratio			0.54		-1.82		0.55		14.58	0.48		-34.25		0.73		58.70		0.46
Current debt ratio			69.92		52.10		45.97		-26.94	62.92		195		21.27		-3.36		22.01
Liquidity ratio reprocessed			-		-		-		-	-		-				-		-
Cashflow			8,448		-18.63		10,383		45.88	7,117		925		694		-82.57		3,983
Net worth			42,088		22.58		34,335		42.74	24,054		17.55		20,463		3.51		19,769
LONG TERM STABILITY
Gearing			-		-		4.86		-29.87	6.93		-				-		-
Equity in percentage			1.41		-33.80		2.13		36.54	1.56		-65.26		4.49		3.22		4.35
Total debt ratio			69.92		52.10		45.97		-26.94	62.92		195		21.27		-3.36		22.01
Working capital			36,141		5.70		34,192		63.42	20,923		48.28		14,111		5.17		13,417

Profit & loss
Operating Income	-	-	-	-	-	-	-	-	-
Turnover	-	-	-	-	-	-	-	-	-
Total operating expenses	-	-	-	-	-	-	-	-	-
Gross Operating Margin	4,137	113	-3,636	-126	13,741	84.61	-16,241	-507	3,983
Operating Charges	-	-	-	-	-	-	-	-	-
Employee costs	-	-	-	-	-	-	-	-	-
Wages and salary	-	-	-	-	-	-	-	-	-
Employee pension costs	-	-	-	-	-	-	-	-	-
Social security contributions	-	-	-	-	-	-	-	-	-
Other employee costs	0	-	0	-	0	-	0	-	0
Director remuneration	-	-	-	-	-	-	-	-	-
Amortization and depreciation	695	-	-	-	3,526	-	-	-	-
Operating result	2,179	59.94	-3,636	-138	9,550	58.80	-16,241	-507	3,983
Total financial income	73,489	110	34,949	1981	1,679	-90.27	17,256	-	-
Total financial expenses	65,461	184	23,044	2607	851	164	322	-	-
Results on ordinary operations before taxation	10,207	23.44	8,269	-20.32	10,378	1394	694	-82.57	3,983
Extraordinary Income	-	-	2,114	270	570	-	-	-	-
Extraordinary Charges	-	-	-	-	-	-	-	-	-
Extraordinary items	0	-100	2,114	270	570	-	0	-	0
Results for the Year Before Taxation	10,207	-1.69	10,383	-5.16	10,948	1477	694	-82.57	3,983
Other appropriations	-	-	-	-	-	-	-	-	-
Taxation	2,453	-	-	-	7,357	-	-	-	-
Results on ordinary operations after taxation	7,753	-6.23	8,269	173	3,021	335	694	-82.57	3,983
Net result	7,753	-25.32	10,383	189	3,591	417	694	-82.57	3,983
Profit (Loss) for the Year to be appropiated	7,753	-25.32	10,383	189	3,591	417	694	-82.57	3,983
Dividends	-	-	-	-	-	-	-	-	-

Social Balance Sheet Details

Social Balance Sheet Details
Social Balance Sheet	Total
During the reporting year
ended 31-12-2014
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	110.58
expectation days
Industry average day sales	172.59
outstanding

Industry quartile analysis
Payment expectations
Company result	-
Lower	120.34
Median	74.93
Upper	45.40

Day sales outstanding

Company result	-
Lower	106.72
Median	54.51
Upper	24.79

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

Position	Principal Manager
Start Date	09/08/2015
Date of birth	23/12/1973
Street	51 VAN EYCKLEI ANTWERPEN
Post code	2018
Country	Belgium
Name	YATISH RATILAL SHAH

Former director details

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.74
UK Pound	1	Rs.99.53
Euro	1	Rs.73.80

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	TRU

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

Accounts

Trends

Payment expectations

Court data summary

Company information

Contractor details

Personnel (NSSO classification)

Joint Industrial Committee (JIC)

Company accounts

Social Balance Sheet Details

Payment Information

Shareholder Details

Linked Companies

Summons

Protested Bills

Bankruptcy and other legal events

Director details

Unit