MIRA INFORM
REPORT
|
Report Date : |
14.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
DIMINCO NV |
|
|
|
|
Registered Office : |
30, Hoveniersstraat, Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
29.04.1983 |
|
|
|
|
Com. Reg. No.: |
424006004 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Very Good |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Belgium |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Summary
|
company details |
|
|
Company Number |
424006004 |
|
Name |
DIMINCO NV |
|
Address |
30, HOVENIERSSTRAAT, ANTWERPEN |
|
Post Code |
|
|
Telephone Number |
032260023 |
|
Fax Number |
032260023 |
|
Establishment Date |
29-04-1983 |
|
Company Status |
ACTIVE |
|
Company Type |
Limited company |
|
Number of Employees |
20 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro (€) |
|
Latest Branch Details |
|
|
Street |
-- |
|
House Number |
|
|
City |
-- |
|
Postal Code |
|
|
Trade Registered Number |
|
|
Trade Registered Entry Date |
-- |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
Latest Event |
|
|
Serial Number |
13640 |
|
Event Description |
Reappointment |
|
Limit |
|
|
Credit Information |
|
|
Purchase Limit (€) |
39,300,000 |
|
Industry Comparison |
|
|
Industry Average Credit Rating |
62.36 |
|
Industry Average Credit Limit (€) |
156,078 |
|
Payment Expectations |
|
|
Payment Expectations |
|
|
Payment Expectation Days |
31.74 |
|
Day Sales Outstanding |
228.79 |
|
Industry Comparison |
|
|
Activity Code |
4676 |
|
Activity Description |
Wholesale of other intermediate products |
|
Industry Average
Day Sales Outstanding |
125.58 |
|
Industry Average
Payment Expectation Days |
136.64 |
|
Industry Quartile Analysis |
|
|
Payment
Expectations - Lower |
41.25 |
|
Payment
Expectations - Median |
91.12 |
|
Payment
Expectations - Upper |
162.38 |
|
|
|
|
Day Sales Outstanding - Lower |
31.71 |
|
Day Sales Outstanding - Median |
74.91 |
|
Day Sales Outstanding - Upper |
158.89 |
|
Company Shareholder Holding |
|
|
Shareholder Detail |
|
|
Company Number |
15215637 |
|
Company Name |
DIGICO HOLDINGS LTD |
|
Address |
|
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
|
|
Annual Accounts Date |
-- |
|
Shareholder Detail |
|
|
Company Number |
404697559 |
|
Company Name |
ANTWERPSCHE DIAMANTKRING CVBA |
|
Address |
HOVENIERSSTRAAT 2/515, ANTWERPEN |
|
Postal Code |
2018 |
|
Country |
|
|
Share Percentage |
1 |
|
Annual Accounts Date |
01-12-2007 |
|
Shareholder Detail |
|
|
Company Number |
404686176 |
|
Company Name |
BEURS VOOR DIAMANTHANDEL CVBA |
|
Address |
PELIKAANSTRAAT 78, ANTWERPEN |
|
Postal Code |
2018 |
|
Country |
|
|
Share Percentage |
1 |
|
Annual Accounts Date |
01-12-2007 |
|
Shareholder Detail |
|
|
Company Number |
0 |
|
Company Name |
|
|
Address |
, |
|
Postal Code |
0 |
|
Country |
|
|
Share Percentage |
|
|
Annual Accounts Date |
-- |
Company Accounts
|
Period |
|||
|
Accounts End Date |
31-12-2009 |
31-12-2008 |
31-12-2007 |
|
Currency |
EUR |
EUR |
EUR |
|
Weeks |
52 |
52 |
52 |
|
Profit & Loss |
|||
|
Turnover |
157,190,633 |
186,863,104 |
175,813,791 |
|
Total Operating Expenses |
152,691,424 |
182,650,765 |
170,375,480 |
|
Operating Result |
4,499,209 |
4,212,339 |
5,438,311 |
|
Total Financial Income |
7,554,126 |
10,829,446 |
19,113,336 |
|
Total Financial Expenses |
11,691,606 |
14,477,039 |
23,889,153 |
|
Results on Ordinary Operations Before Tax |
361,730 |
564,747 |
662,493 |
|
Taxation |
- |
14,839 |
40,443 |
|
Results on Ordinary Operations After Tax |
361,730 |
549,908 |
622,050 |
|
Extraordinary Items |
1,300 |
0 |
5,523 |
|
Net Result |
363,030 |
549,908 |
627,573 |
|
Other Information |
|||
|
Dividends |
- |
- |
- |
|
Director Remuneration |
223,824 |
224,553 |
261,225 |
|
Employee Costs |
557,327 |
600,682 |
505,478 |
|
- Wages & Salaries |
418,868 |
469,447 |
401,073 |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
123,747 |
113,338 |
94,347 |
|
- Other Employee Costs |
14,712 |
17,897 |
10,058 |
|
Amortization & Depreciation |
261,546 |
275,543 |
259,775 |
|
Balance Sheet |
|||
|
Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
1,080,808 |
1,384,726 |
1,525,833 |
|
- Land And Buildings |
913,317 |
1,155,827 |
1,281,448 |
|
- Plant And Machinery |
13,263 |
21,038 |
23,611 |
|
- Other Tangible Assets |
154,228 |
207,861 |
220,774 |
|
Financial Fixed Assets |
3,297 |
3,412 |
3,360 |
|
Total Fixed Assets |
1,084,105 |
1,388,138 |
1,529,193 |
|
Inventories |
18,175,474 |
29,265,517 |
22,156,670 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
18,175,474 |
29,265,517 |
22,156,670 |
|
Trade Debtors |
98,530,702 |
82,751,027 |
65,721,980 |
|
Cash |
288,782 |
123,387 |
1,179,598 |
|
- Miscellaneous Current Assets |
108,247 |
3,470,615 |
7,414,781 |
|
Total Current Assets |
118,532,375 |
122,796,349 |
97,206,857 |
|
Current Liabilities |
|||
|
- Trade Creditors |
13,277,598 |
11,457,552 |
14,019,766 |
|
- Short Term Group Loans |
23,291,329 |
23,280,060 |
10,629,292 |
|
- Other Short Term Loans |
60,540,710 |
63,343,903 |
47,479,923 |
|
- Miscellaneous Current Liabilities |
-22,574,000 |
-22,585,665 |
-10,610,486 |
|
Total Current Liabilities |
74,535,637 |
75,495,850 |
61,518,495 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
15,987,090 |
16,963,182 |
9,503,673 |
|
- Other Long Term Liabilities |
5,595,213 |
7,780,102 |
5,594,849 |
|
Total Long Term Debts |
21,582,303 |
24,743,284 |
15,098,522 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
14,488,321 |
14,995,474 |
14,177,350 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
7,238,848 |
7,116,502 |
6,208,333 |
|
- Revaluation Reserve |
1,771,371 |
1,833,377 |
1,733,351 |
|
Total Shareholders Equity |
23,498,540 |
23,945,353 |
22,119,034 |
|
|
|||
|
Working Capital |
43,996,738 |
47,300,499 |
35,688,362 |
|
Net Worth |
23,498,540 |
23,945,353 |
22,119,034 |
|
Ratio Analysis |
|||
|
Trading Performance |
|||
|
Results on Ordinary Operations Before Taxation Margin |
0.23 |
0.30 |
0.38 |
|
Return On Capital Employed |
0.80 |
1.16 |
1.78 |
|
Return On Total Assets Employed |
0.30 |
0.45 |
0.67 |
|
Return On Net Assets Employed |
0.82 |
1.19 |
1.86 |
|
Sales / Net Working Capital |
3.57 |
3.95 |
4.93 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
11.56 |
15.66 |
12.60 |
|
Debtor Days |
228.79 |
161.64 |
136.44 |
|
Creditor Days |
31.74 |
22.90 |
30.03 |
|
Short Term Stability |
|||
|
Current Ratio |
1.59 |
1.63 |
1.58 |
|
Liquidity Ratio / Acid Ratio |
1.35 |
1.24 |
1.22 |
|
Current Debt Ratio |
3.17 |
3.15 |
2.78 |
|
Long Term Stability |
|||
|
Gearing |
424.79 |
432.60 |
305.68 |
|
Equity In Percentage |
0.20 |
0.19 |
0.22 |
|
Total Debt Ratio |
4.25 |
4.33 |
3.06 |
Company Court Data
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
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Maturity of Bill (month) |
|
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Name of Drawer |
-- |
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City of |
-- |
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NSSO Details |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
|
-- |
|
Directors |
|
|
Company Director |
|
|
Full Name |
CHETAN CHINUBHAI CHOKSI |
|
Birth Date |
|
|
Position Description |
Managing director |
|
Address |
10 SORBENLAAN WILRIJK (ANTW.) |
|
Country |
-- |
|
Postal Code |
2610 |
|
Birth Date |
2013-01-01 |
|
Company Director |
|
|
Full Name |
NIMISH JAYANTILAL SHAH |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
60 INGENIEUR HAESAERTSLAAN EDEGEM |
|
Country |
-- |
|
Postal Code |
2650 |
|
Birth Date |
2013-01-01 |
|
Company Director |
|
|
Full Name |
AJEN JASVANTLAL MADHU |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
34 PERCKHOEVELAAN WILRIJK (ANTW.) |
|
Country |
-- |
|
Postal Code |
2610 |
|
Birth Date |
2013-01-01 |
|
Company Director |
|
|
Full Name |
KANTILAL RAJANDRAKU SONI |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
181 MECHELSESTEENWEG ANTWERPEN |
|
Country |
-- |
|
Postal Code |
2018 |
|
Birth Date |
2015-01-01 |
|
Company Director |
|
|
Full Name |
RUSHIN HERESH CHOKSI |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
102 BELGIELEI ANTWERPEN |
|
Country |
-- |
|
Postal Code |
2018 |
|
Birth Date |
2015-01-01 |
|
Company Director |
|
|
Full Name |
RAKESH RAJENDRA VARMA |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
75 BELGIELEI ANTWERPEN |
|
Country |
-- |
|
Postal Code |
2018 |
|
Birth Date |
2015-01-01 |
|
Company Director |
|
|
Full Name |
HEMANG RAJENDRA SHAH |
|
Birth Date |
|
|
Position Description |
Director |
|
Address |
257 MECHELSESTEENWEG ANTWERPEN |
|
Country |
-- |
|
Postal Code |
2018 |
|
Birth Date |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.87 |
|
|
1 |
Rs.72.83 |
|
Euro |
1 |
Rs.64.37 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.