MIRA INFORM REPORT

 

 

Report No. :

341389

Report Date :

21.09.2015

 

IDENTIFICATION DETAILS

 

Name :

MEGHMANI EUROPE BVBA

 

 

Registered Office :

Grotesteenweg 42-44 2600 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

29.10.2004

 

 

Com. Reg. No.:

869763861

 

 

Legal Form :

Private Limited Company (BL/LX)

 

 

Line of Business :

Wholesale of chemical products for industrial use.

 

 

No. of Employee :

2

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

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

 

his 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

869763861

Branche  Unit  Number

2143270824

Company  name

MEGHMANI  EUROPE  BVBA

Address

GROTESTEENWEG  42-44

 

2600 ANTWERPEN

Number  of  staff

2

Date  of  establishment

29/10/2004

Telephone  number

032973082

Fax  number

 

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/03/2012

4,426,310

8,152

-810,705

-990,594

31/03/2011

2,691,457

-18,111

-832,582

-1,015,180

31/03/2010

3,651,364

-91,933

-575,107

-744,866

 

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/03/2012

4,116,285

2

24,750

43,958

31/03/2011

3,253,375

1

24,750

-235,081

31/03/2010

5,528,486

1

24,750

-62,155

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

182.52

Industry  average  payment

66.85

Industry  average  day  sales

189.70

expectation  days

 

outstanding

 

Day  sales  outstanding

230.17

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                --

 

NSSO DETAILS

Date of summons                     --

 

 

Company information

 

Business  number

869763861

Company  name

MEGHMANI  EUROPE BVBA

Fax  number

-

Date  founded

29/10/2004

Company  status

active

Company  type

Private  Limited  Company

 

 

 

(BL/LX)

Currency

Euro  (€)

Date  of  latest  accounts

31/03/2012

Activity  code

46751

Liable  for  VAT

yes

Activity  description

Wholesale  of  chemical products  for  industrial  use

VAT  Number

BE.0869.763.861  Check  VAT 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)

 

JIC Code

207

Description

Joint committee for the employees off he chemical industry

 

 

 

 

 

 

 

SIGNIFICANT  EVENTS

 

Event  Date

31/01/2007

Event  Description

 

Event  Details

Etablissement  du  nouveau  texte  des  statuts  en  néerlandais.

Event  Date

31/01/2007

 

 

Company accounts

 

ASSETS

 

Annual  accounts

31-03-2012

%

31-03-2011

%

31-03-2010

%

31-03-2009

%

31-03-2008

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

537,824

-4.98

566,020

-1.93

577,145

3.57

557,275

193

190,062

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

512,554

-4.13

534,635

-2.80

550,029

0.51

547,214

202

180,981

Land  &  building

495,727

-2.72

509,601

-2.65

523,475

-2.70

537,976

218

169,157

Plant  &  machinery

-

-

-

-

-

-

2,814

-55.77

6,361

Furniture  &  Vehicles

16,313

-33.24

24,433

-5.54

25,868

324

6,100

386

1,253

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

324

-92.31

4,209

Other  tangible  assets

515

-14.29

601

-12.50

686

-

0

-

0

Financial  fixed  assets

25,270

-19.49

31,386

15.74

27,117

169

10,061

10.79

9,081

Total  current  assets

3,578,461

33.16

2,687,355

-45.72

4,951,340

7.75

4,595,196

-8.07

4,998,715

Inventories

543,835

-8.42

593,844

-22.53

766,544

-15.36

905,646

-35.02

1,393,781

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

543,835

-8.42

593,844

-22.53

766,544

-15.36

905,646

-35.02

1,393,781

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

2,791,286

49.90

1,862,116

-52.02

3,881,086

30.57

2,972,439

-2.69

3,054,457

Other  amounts  receivable

4,570

-

-

-

32,751

-75.96

136,232

-65.65

396,597

Cash

237,869

3.20

230,495

-14.93

270,959

-53.35

580,879

-

-

Miscellaneous  current  assets

900

0

900

-

0

-

0

-100

153,880

Total  Assets

4,116,285

26.52

3,253,375

-41.15

5,528,486

7.30

5,152,470

-0.70

5,188,776

 

 

LIABILITIES

 

Total  shareholders  equity

-810,705

97.37

-832,582

-44.77

-575,107

-17.65

-488,809

-20.65

-405,150

Issued  share  capital

24,750

0

24,750

0

24,750

0

24,750

0

24,750

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

-835,455

97.45

-857,332

-42.92

-599,857

-16.80

-513,559

-19.46

-429,900

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

4,926,990

20.58

4,085,958

-33.06

6,103,593

8.20

5,641,279

0.85

5,593,927

Other  long  term  loans

357,934

-6.65

383,422

-5.88

407,387

-10.27

454,037

16992

2,656

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

357,934

-6.65

383,422

-5.88

407,387

-10.27

454,037

16992

2,656

Current  portion  of  long  term  debt

25,488

6.36

23,965

5.82

22,647

-

-

-

3,725

Financial  debts

-

-

-

-

-

-

-

-

1,896,454

Trade  creditors

2,175,255

64.18

1,324,938

172

486,987

-

-

-

3,633,746

Amounts  Payable  for  Taxes,

-

-

15,284

254

4,311

-88.30

36,837

-35.76

57,345

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

2,368,312

1.28

2,338,348

-54.88

5,182,262

0.62

5,150,405

-

0

Total  current  liabilities

4,569,055

23.40

3,702,535

-35.00

5,696,206

9.81

5,187,243

-7.23

5,591,270

Total  Liabilities

4,116,285

26.52

3,253,375

-41.15

5,528,486

7.30

5,152,470

-0.70

5,188,776

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

0.18

26.87

-0.67

26.59

-2.52

-57.50

-1.60

82.47

-1.94

Return  on  capital  employed

-1.80

-144

4.03

-92.65

54.81

-78.22

251.71

839

26.78

Return  on  total  assets  employed

0.20

35.71

-0.56

33.73

-1.66

97.65

-1.70

81.73

-2.08

Return  on  net  assets  employed

-1.01

-146

2.18

-86.37

15.99

-10.72

17.91

-32.67

26.60

Sales  /  net  working  capital

-4.47

-68.68

-2.65

54.08

-4.90

52.92

-9.26

98.72

-9.38

Stock  turnover  ratio

12.29

-44.29

22.06

5.10

20.99

27.14

16.51

-34.17

25.08

Creditor  days

182.52

0.29

182.00

272

48.80

-

-

-

239.48

Debtor  days

230.17

-8.85

252.53

-34.91

387.96

96.13

197.81

-1.41

200.64

 

SHORT  TERM  STABILITY

 

Current  ratio

0.78

6.85

0.73

-16.09

0.87

-2.25

0.89

0

0.89

Liquidity  ratio  /  acid  ratio

0.66

15.79

0.57

-21.92

0.73

2.82

0.71

10.94

0.64

Current  debt  ratio

-5.64

-26.74

-4.45

44.95

-9.90

93.31

-10.61

76.88

-13.80

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

43,958

18.70

-235,081

-278

-62,155

-1.45

-61,265

67.35

-90,960

Net  worth

-810,705

97.37

-832,582

-44.77

-575,107

-17.65

-488,809

-20.65

-405,150

 

LONG  TERM  STABILITY

 

Gearing

-47.29

96.65

-48.93

65.44

-74.77

80.49

-92.89

19.78

-469.66

Equity  in  percentage

-19.70

76.98

-25.59

-146

-10.40

-9.59

-9.49

-21.51

-7.81

Total  debt  ratio

-6.08

-23.83

-4.91

46.28

-10.61

91.94

-11.54

83.56

-13.81

Working  capital

-990,594

97.58

-1,015,180

-36.29

-744,866

-25.81

-592,047

99

-592,556

 

 

PROFIT & LOSS

 

Operating  Income

4,443,458

47.01

3,022,486

-17.52

3,664,289

-33.20

5,485,245

-1.28

5,556,594

Turnover

4,426,310

64.46

2,691,457

-26.29

3,651,364

-33.43

5,484,745

-1.29

5,556,594

Total  operating  expenses

4,349,916

63.71

2,657,167

-27.05

3,642,632

-33.88

5,508,897

-0.53

5,538,412

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

4,367,064

46.14

2,988,196

-18.26

3,655,557

-33.65

5,509,397

-0.52

5,538,412

Employee  costs

130,253

32.70

98,158

73.60

56,543

-48.24

109,250

176

39,454

Wages  and  salary

108,679

30.69

83,156

111

39,350

-59.17

96,376

187

33,472

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

17,126

36.42

12,554

35.11

9,292

101

4,622

-17.52

5,604

Other  employee  costs

4,449

81.72

2,448

-69.02

7,902

-4.24

8,251

2082

378

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

22,081

-1.40

22,394

-7.24

24,143

7.81

22,394

33.23

16,809

Operating  result

76,394

122

34,290

292

8,731

36.15

-24,152

-232

18,181

Total  financial  income

17,139

-79.98

85,597

128

37,418

-61.44

97,046

611

13,647

Total  financial  expenses

85,382

-38.13

137,999

-0.06

138,082

-13.92

160,420

14.92

139,597

Results  on  ordinary  operations  before

8,152

45.01

-18,111

19.70

-91,933

-5.03

-87,526

81.22

-107,768

taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

21,143

-63.53

57,980

929

5,634

40.69

4,005

-

-

Extraordinary  Charges

7,417

-97.51

297,344

-

-

-

137

-

-

Extraordinary  items

13,726

5.73

-239,364

-4348

5,634

45.67

3,868

-

0

Results  for  the  Year  Before  Taxation

21,877

8.50

-257,475

-198

-86,299

-3.16

-83,658

77.63

-107,768

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Results  on  ordinary  operations  after

8,152

45.01

-18,111

19.70

-91,933

-5.03

-87,526

81.22

-107,768

taxation

 

 

 

 

 

 

 

 

 

Net  result

21,877

8.50

-257,475

-198

-86,299

-3.16

-83,658

77.63

-107,768

Profit  (Loss)  for  the  Year  to  be appropiated

21,877

8.50

-257,475

-198

-86,299

-3.16

-83,658

77.63

-107,768

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

 

Total

During  the  reporting  year

 

ended  31-03-2012

 

Full-time  Employees

2

Part-time  Employees

-

Total  Fte  Employees

2

Number  of  hours  worked

 

Full-time  Employees

3,625

Part-time  Employees

-

Total

3,625

Personnel  Charges

 

Full-time  Employees

130,253

Part-time  Employees

-

Total

130,253

Benefits  In  Addition  To  Wages

1,051

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

1

Actual  working  hours

1,908

Personnel  Charges

83,156

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

 

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

2

-

2

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

1

-

1

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

1

-

1

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

 

 

Working  Category

 

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

2

-

2

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

2

-

2

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                            46751

Activity description                  Wholesale of chemical products for industrial use

industry average credit

rating                                       69

Industry average credit limit     167313.70

 

 

Payment Information

 

 

SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

Amount

-

Details

-

 

 

PAYMENT INFORMATION SUMMARY

 

Total  number  of  Invoices  available

58

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

52

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

6

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

0

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

0

 

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

182.52

Day  sales  outstanding

230.17

 

 

INDUSTRY  COMPARISON

 

Activity  code

46751

Activity  description

Wholesale  of  chemical  products  for  industrial  use

Industry  average  payment

66.85

Industry average day sales

outstanding

189.70

 

 

Industry quartile analysis

 

PAYMENT EXPECTATIONS

 

Company result            182.52

Lower                           87.12

Median                         58.66

Upper                           41.08

 

 

DAY SALES OUTSTANDING

 

Company result            230.17

Lower                           73.12

Median                         41.88

Upper                           23.23

 

 

Shareholder Details

 

SUMMARY

Group - Number of Companies             0

Linkages - Number of Companies        2

Number of Countries                            2

 

 

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        2

Number of Countries                            2

 

 

LINKED COMPANIES

 

NAME

NUMBER

LATEST  KEY

TURNOVER

 

 

FINANCIALS

 

 

 

 

 

MEGHMANI  ORGANICS

04-24052

31.03.2015

€199.483.538

MEGHMANI  ORGANICS  USA,  INC

-

-

$350.000

 

 

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

20/05/2010

Street

 

Post  code

 

Country

India

Name

ANAND  I  PATEL

 

 

FORMER DIRECTOR DETAILS

 

Name

MAPARA  KETAN

Position

Principal  Manager

Start  Date

06/03/2006

End  Date

31/03/2011

Street

391 PRINS  BOUDEWIJNLAAN  EDEGEM

Post  code

2650

Country

Belgium

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.92

UK Pound

1

Rs.102.75

Euro

1

Rs.75.13

 

 

INFORMATION DETAILS

 

Analysis Done by :

TRI

 

 

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.