MIRA INFORM REPORT

Report No. :	507116
Report Date :	08.05.2018

IDENTIFICATION DETAILS

Name :	NEW PRESENCE JEWELS S.R.O.
Registered Office :	Zarami 4422, 760 01 Zlin
Country :	Czech Republic
Financials (as on) :	31.12.2016
Date of Incorporation :	02.12.2011
Com. Reg. No.:	C 76081
Legal Form :	Private limited company
Line of Business :	· Wholesale of watches and jewellery · Retail sale of watches and jewelery · Wholesale and retail sale activity {sale of jewels and watches. Running internet trade
No. of Employees :	82

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Czech Republic	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

Company identification

NEW PRESENCE JEWELS s.r.o.	telephone	00420/ 577 042 426
Zarami 4422	telefax	00420/ 577 042 403
760 01 Zlin	e-mail	info@presence.cz
Czech Republic	Web	www.presence.cz

Registration:	Krajsky soud v Brne
Statistical Nr.		24188301	Registration Nr.	C 76081
Tax Nr.		CZ24188301	Status	activ

Economic situation

Business connection	Credits are not denied	(32)
Terms of payment	exceedance of payment terms	(33)

Basic information

Legal form

Private limited company

Founded

02/12/2011 as Private limited company

02/12/2011 as Private limited company

Registration

02/12/2011, Mestsky soud v Praze, C 186909

03/09/2012, Krajsky soud v Brne, C 76081

Statistical Nr.: 24188301 Tax Nr.: CZ24188301

Registered names

Valid from	Trade name(s)	Valid until
02/12/2011	NEW PRESENCE JEWELS s.r.o.

Owners and Capital

Crefo Nr.	Name / Address / Status	From	Share
Shareholders
9213231558	FINANCIERE MOLIERE Chausee de Bruxelles 151, 6040 Charleroi, Jumet Belgium	03/10/2016	671,088 CZK
9214130055	Krzystof Maciej Giecold (birth date 06/11/1957) alle de Chaponval 17, 785 90 NOISY-LE-ROI France	20/01/2012	164,293 CZK
9216724741	METMAN Capital SARL unipersonelle rue Charles-Bernard Metman 14, 922 00 Neuilly sur Seine France	03/10/2016	139,647 CZK
9213231559	Ing. Richard Kovar (birth date 05/01/1971) K Zelene louce 1342/18, 148 00 Praha 4 Czech Republic	20/01/2012	24,972 CZK
Total capital			1,000,000 CZK

Registered capital

Date 02/12/2011	Currency	Value
	CZK	200,000
03/10/2016	CZK	1,000,000

Management

Crefo Nr.	Name / Address / Status	Since	Power of attorney
Management
9214130054	Krzysztof Maciej Giecold (birth date 06/11/1957) Executive Manager allee de Chaponval 17, NOISY-LE-ROI France	06/12/2011
Supervisory Board
9213231559	Ing. Richard Kovar (birth date 05/01/1971) member of supervisory board K Zelene louce 1342/18, 148 00 Praha 4 Czech Republic	03/10/2016
9216724741	METMAN Capital SARL unipersonelle rue Charles-Bernard Metman 14, 922 00 Neuilly sur Seine France	03/10/2016

Company addresses

Valid from	Address	Valid until
09/05/2012	Zarami 4422, 760 01 Zlin, Czech Republic
02/12/2011	Karlovo namesti 288/17, 120 00 Praha 2, Czech Republic 09/05/2012

Business activities

Main activity	Nace
Wholesale of watches and jewellery	46.48
Additional activities	Nace
Retail sale of watches and jewelery	47.77
Wholesale and retail sale activity { sale of jewels and watches. Running internet trade. Running 21 retail salesrooms all over the territory of the Czech \ republic - cities of: Praha, Brno, Ostrava, Ceske Budejovice, Plzen, Zlin, Karlovy Vary, \ Olomouc, Hradec Kralove

Economic data

Turnover and Employees

Date	Turnover	Employees
2009	actual sales 147,407,000 CZK
2010	actual sales 140,689,000 CZK
2011	actual sales 136,915,000 CZK	128 employees
2012	actual sales 157,214,000 CZK	107 employees
2013	actual sales 122,332,000 CZK	90 employees
2014	actual sales 107,838,000 CZK	70 employees
2015	actual sales 119,029,000 CZK	67 employees
2016	actual sales 129,366,000 CZK	72 employees
2017	actual sales 131,000,000 CZK	70 employees
2018		82 employees

Data for the year 2011 relate to the predecessor company PRAXIS, \ spol. s r.o.

Turnover for the years 2009 - 2011 relates to the predecessor company \ PRAXIS, spol. s r.o.

Import / Export

	Import	Export
Percentage	Unknown	Unknown
Countries	France, Spain, Thailand, Turkey, China, Italy	Unknown

Properties

none

Supplementary data

Remarks

All the sources of negative data accessible to public (insolvency registers, databases of debtors of health insurance institutions, commercial bulletin, collection database of Creditreform and others) are currently monitored. The final accounts for the year 2017 are not available yet.

The final account will be published only after the audit and after it has been approved by the General Meeting.

To the company NEW PRESENCE JEWELS s.r.o., property of the

disappearing company PRAXIS, spol. s r.o., 760 01 Zlin, Zarami 4422,

ICC 44119101, deleted from the Companies Register as of 19.7.2012, has

been transferred in consequence of intrastate fusion by merger as to

the successor company.

In the year 2017 the company reached a loss

Contact:

I. Vavrysova - chief accountant,

phone: 00420/ 577 042 405, e-mail: ivavrysova@presence.cz

Banks

Code	Bank name / Address	Account Nr.
0300	Ceskoslovenska obchodni banka, a. s.
2600	Citibank Europe plc, organizacni slozka	2058980100/2600

Main indices

Payment experience and credit opinion

Terms of payment	exceedance of payment terms	(33)
Business connection	Credits are not denied	(32)

Business development

Company development	Stagnant business development	(39)
Order situation	Satisfactory course of business	(31)

Events

No negative events registered.

Per 03/05/2018 the company was examined in a Central register of executions and no were found

Balancs

Auditor

Crefo Nr.	Name / Address / Status	Since	Power of attorney
Auditor
9210609439	BETA Audit spol. s r.o. Statistical Nr.: 25313452 Palacke´ho tˇr´ıda 318/159, Brno, 612 00, Czech Republic telephone: 00420/541 241 946 e-mail: jurzycova@betabrno.cz Web: www.betabrno.cz

Financials

Balance

Dec 31, 2016 The enclosed of 2016 from business register, ..

Dec 31, 2015 The enclosed balance of 2015 from business register, it is authenticated by the auditor.

Dec 31, 2014 The enclosed balance of 2014 from business register, it is authenticated by the auditor.

Dec 31, 2013 The enclosed balance of 2013 from business register, it is authenticated by the auditor.

Name	31/12/2016 1000 CZK	31/12/2015 1000 CZK balance	31/12/2014 1000 CZK balance	31/12/2013 1000 CZK balance
TOTAL ASSETS	119,629	87,607	77,287	107,689
Receivables for subscriptions	0
Fixed assets	19,398	8,692	10,560	15,545
Intangible fixed assets	809	951	1,000	1,205
Incorporation expenses		154	154	154
Research and development	0
Valuable rights	166
Software	166	154	35	438
Other valuable rights	0
Goodwill	0
Other intangible fixed assets	0
Advance payments for intangible fixed assets and intangible fixed assets under construction	643
Advance payments for intangible fixed assets	0
Intangible fixed assets under construction	643	643	811	613
Tangible fixed assets	18,589	7,295	9,114	13,766
Lands and Constructions	11,029
Lands	0
Constructions	11,029	4,101	6,042	7,965
Equipment	6,733	3,194	3,072	5,801
Adjustment to acquired assets	0
Other tangible fixed assets	0
Perennial corps	0
Breeding and draught animals	0
Other tangible fixed assets	0
Advance payments for tangible fixed assets and tangible fixed assets under construction	827
Advance payments for tangible fixed assets	516
Tangible fixed assets under construction	311
Long-term financial assets	0	446	446	574
Shares in accounting units with substantial influ- ence		446	446	574
Shares - controlled and controlling organizations	0
Loans - controlled and controlling organizations	0
Shares - substantial influence
Loans - substantial influence	0
Other securities and shares	0

Other loans	0
Other financial investments	0
Other financial investments	0
Advance payments for long-term financial assets	0
Current assets	100,095	78,134	65,771	90,726
Inventory	79,834	59,127	51,019	67,261
Materials	0
Work in progress and semi-products	0
Finished products and merchandise	79,834
Finished products	0
Merchandise	79,834	59,127	51,019	67,261
Animals	0
Advance payments for inventory	0
Receivables	14,450
Long-term receivables	9,495	7,916	7,746	6,669
Trade receivables	0	5,568	4,320	3,741
Receivables - controlled and controlling organiza- tions	0
Receivables from accounting units with substan- tial influence	0
Deferred tax receivable	942	2,348	3,426	2,928
Other receivables	8,553
Receivables from partners	0
Long-term deposits given	8,553
Estimated receivable	0
Other receivables	0
Short-term receivables	4,955	3,164	1,714	17,110
Trade receivables	3,170	1,355	606	14,759
Receivables - controlled and controlling organiza- tions	0
Receivables from accounting units with substan- tial influence	0
Other receivables	1,785
Short-term financial assets		7,927	5,292	-314
Receivables from partners	0
Receivables from social security and health insur- ance	0
Due from state - tax receivable	0
Short-term deposits given	1,774	1,724	1,101	2,289
Estimated receivable	1	73		50
Other receivables	10	12	7	12
Short-term financial assets	0
Shares - controlled and controlling organizations	0
Other short-term financial assets	0
Cash and bank accounts	5,811
Cash	2,751	2,336	7,493	1,982
Bank accounts	3,060	5,591	-2,201	-2,296
Accruals	136	781	956	1,418
Deferred expenses	136	781	956	1,418
Complex deferred costs	0
Deferred income	0
TOTAL LIABILITIES	119,629	87,607	77,287	107,689
Equity	57,486	38,714	27,922	40,168
Registered capital	1,000	200	200	200
Registered capital	1,000	200	200	200
Ownership interests (-)	0
Changes of registered capital ( +/- )	0
Share premium and capital funds	21,326	6,025	4,225	3,975
Share premium	20,776	3,675	3,675	3,675
Capital funds	550
Other capital funds	550	2,350	550	300
Differences from revaluation of assets and liabili- ties ( +/- )	0
Diferences from revaluation in tranformation of companies (+/-)	0
Diferences from tranformation of companies ( +/-)	0
The differences from valuation on transformation of business corporations	0
Funds from earnings	20	20	20	20
Other reserve funds	20	20	20	20
Statutory and other funds	0
Profit / loss - previous years (+/-)	32,468	23,478	35,973	48,914
Retained earnings from previous years	32,468	23,478	35,973	48,914
Accumulated losses from previous years (-)	0
Other profit / loss - previous years (+/-)	0
Profit / loss - current year (+/-)	2,672	8,991	-12,496	-12,941
Decided on advance for payment of a profit share (-)	0		0	0
Liabilities	61,537	48,529	48,850	66,959
Reserves	47	0	0	0
Reserves for pension and similar payables	0
Income tax reserves	0
Reserves under special statutory regulations	0
Other reserves	47
Payables	61,490
Long-term payables	28,505	0	0	0
Issues bonds	0
Exchangeable obligations	0
Other bonds	0
Liabilities to credit institutions	28,370	33,459	36,714	39,429
Long-term advances received	0
Trade payables	0
Long-term notes payables	0
Payables - controlled and controlling organizations	0
Payables to accounting units with substantial in- fluence	0
Deferred tax liability	0
Other payables	135
Payables to partners	135
Estimated payables	0
Other payables	0
Short-term payables	32,985	15,070	12,136	27,530
Issues bonds	0		18
Exchangeable obligations	0
Other bonds	0
Payables to banks	0
Short-term deposits received	14	15	2,955	88
Trade payables	24,338	9,258	6,698	21,040
Short-term notes payables	0
Payables - controlled and controlling organizations	0
Payables to accounting units with substantial in- fluence	0
Other payables	8,633
Bank loans and financial accommodations		33,459	36,714	39,429
Payables to partners	0
Short-term accommodations	0
Payroll	1,640			106
Payables to social securities and health insurance	826	621		849
Due from state - tax liabilities and subsidies	4,198	3,475	629	2,617
Estimated payables	1,969	1,699		2,830
Other payables	0	2	1,836
Accruals	606	364	515	562
Accrued expenses	47
Deferred revenues	559	364	515	562

Profit and loss accounts

Dec 31, 2016 The enclosed profit/loss account of 2016 from business register, ..

Dec 31, 2015 The enclosed profit/loss account of 2015 from business register, it is authenticated by the auditor.

Dec 31, 2014 The enclosed profit/loss account of 2014 from business register, it is authenticated by the auditor

Dec 31, 2013 The enclosed profit/loss account of 2013 from business register, it is authenticated by the auditor.

Name	31/12/2016 1000 CZK profit/loss account	31/12/2015 1000 CZK profit/loss account	31/12/2014 1000 CZK profit/loss account	31/12/2013 1000 CZK profit/loss account
Turnover	129,366	119,029	107,838	122,332
Revenues from own products and services	343	351	280	414
Revenues from sold goods	129,023	118,678	107,558	121,918
Production consumption	88,166
Expenses on sold goods	54,358	46,015	37,295	50,433
Sale margin		72,663	70,263	71,485
Production		351	280	414
Consumption of material and energy	2,539	2,568	2,549	5,288
Services	31,269	26,744	28,780	30,908
Added value		43,702	39,214	35,703
Change in inventory of own products (+/-)	0	0
Capitalization (-)	0	0
Production consumption		29,312	31,329	36,196
Personnel expenses	28,149	23,867	29,146	32,752
Wages and salaries		17,368	21,468	23,798
Wages and salaries	20,871
Social security, healt insurance and other ex- penses	7,278
Social security expenses and health insurance	6,633	5,871	6,885	8,229
Other expenses	645	628	793	725
Value adjustments in the operational area	1,484
Value adjustments of intagible and tangible fixed assets	4,169
Value adjustments of intagible and tangible fixed assets - permanent	4,169	5,058	6,975	6,061
Value adjustments of intagible and tangible fixed assets - temporary	0
Stock value adjustments	0
Receivable value adjustments	-2,685
Revenues from disposals of fixed assets and materials		0	667	41
Other operating revenues	207
Other operating expenses		2,527	1,622	2,092
Revenues from disposals of fixed assets	0		667	41
Revenues from disposals of materials	0
Net book value of disposed fixed assets and materials		3	0	0
Other operating revenues	207
Other operating expenses	3,828
Net book value of sold fixed assets	0	3
Net book value of sold material	0
Taxes and fees	100	128	185	209
Change in operating reserves and adjustments and complex deferred costs ( + / - )			7,367	1,029
Reserves and complex deferred costs	0
Other operating revenues		175	150	289
Other operating expenses	3,728
Operating profit / loss	7,946	12,294	-5,264	-6,110
Revenues from long-term financial assets		0	0	0
Revenues from long-term financial assets - shares	0
Revenues from shares - controlled and controlling organizations	0
Revenues from other long-term financial as- sets		0
Other revenues from shares	0
Costs spent for sold shares	0
Revenues from other long-term financial as- sets	0
Revenues from other long-term financial assets - controlled and controlling organizations	0
Revenues from other long-term financial assets	0
Costs related to other fixed financial assets	0
Interest revenues	0
Interest revenues - controlled and controlling or- ganizations	0
Other interest revenues	0
Value adjustments and reserves in the finan- cial area	-2,653		4,345
Interest expenses	981	1,091	1,453	1,566
Interest revenues			1	1
Interest expenses - controlled and controlling or- ganizations	0
Other interest expenses	981
Other financial revenues		1,638	1,070	195
Other financial reveneus	665
Other financial expenses		2,327	2,428	4,561
Other financial expenses	5,440
Profit / loss from financial operations ( trans- actions ) (+/-)	-3,103	-1,780	-7,155	-5,931
Income tax on ordinary income		1,077	-497	-1,629
Profit / loss before tax (+/-)	4,843	8,991	-12,496	-12,941
Income tax	2,171
Income tax - due tax	764
Tax deferred		1,077	-497	-1,629
Income tax - tax deferred (+/-)	1,407
Operating profit / loss ordinary activity		9,437	-11,922	-10,412
Extraordinary revenues			6	244
Extraordinary expenses		446	580	2,773
Income tax on extraordinary income		0	0	0
Operating profit / loss extraordinary activity		-446	-574	-2,529
Profit/Loss after tax ( +/- )	2,672
Transfer profit ( loss ) to partners (+/-)	0
Profit / loss of current accounting period (+/-)	2,672	10,068	-12,993	-14,570
Net turnover for the accounting period	130,238
Operating cash flow
Investment cash flow
Financial cash flow
Receivables after due date total	3,509	2,294	1,842	2,540
Receivables more than 360 days after due date
Receivables more than 180 days after due date
Receivables more than 90 days after due date
Receivables more than 60 days after due date
Receivables more than 30 days after due date
Receivables less than 30 days after due date
Liabilities after due date total	17,282	4,928	4,860	8,654
Liabilities more than 360 days after due date
Liabilities more than 180 days after due date
Liabilities more than 90 days after due date
Liabilities more than 60 days after due date
Liabilities more than 30 days after due date
Liabilities less than 30 days after due date

Financial Ratios

Name	31/12/2016	31/12/2015	31/12/2014	31/12/2013
Return on total assets ROA (in %)	4.05	10.26	-16.17	-12.02
Return on equity ROE (in %)	8.42	23.22	-44.75	-32.22
Return on sales ROS (in %)	3.74	7.55	-11.59	-10.58
Turnover of receivables (in days)	8.94	4.16	2.05	44.04
Turnover of liabilities (in days)	68.67	28.39	22.67	62.78
Turnover of inventories (days)	225.25	181.31	172.68	200.69
Net working capital (in ths. CZK)	67110.00	63064.00	53635.00	63196.00
Ratio of accounts payable to accounts receivable (in %)	23.50	73.52	77.95	86.37
Ratio of profit/loss to tangible assets (in%)	14.99	7.30	9.79	12.71
Current ratio	3.03
Quick ratio		0.74	0.58	0.61
Cash ratio
Debt ratio I (in %)	51.95	55.81	63.87	62.70
Debt ratio II (in %)	51.44	55.39	63.21	62.18

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.77
UK Pound	1	INR 90.58
Euro	1	INR 79.97
CZK	1	INR 3.14

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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.