MIRA INFORM REPORT

 

 

Report Date :           

08.11.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

NICE DIMON BVBA

 

 

Registered Office :

Pelikaanstraat 62 Antwerpen Post Code 2018

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

24.02.1995

 

 

Com. Reg. No.:

454587431

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Wholesale of diamonds and other precious stones

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Belgium

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Summary

Company Summary

Business Name

NICE DIMON BVBA

Business Number

454587431

Address

PELIKAANSTRAAT 62 ANTWERPEN

Post Code

2018

Telephone

032251269

Fax Number

032930277

Date of Establishment

24/02/1995

Number of Employees

0

 

Company Information

Company Details

Business Number

454587431

Name

NICE DIMON BVBA

Fax Number

032930277

Establishment Date

24/02/1995

Company Status

ACTIVE

Company Type

Private limited liability company

 

 

DIRECTORS/MANAGEMENT

 

Directors

Company Director

Full Name

SACHIN RAJESH SHAH

Position

Manager

Address

2 GOUNODSTRAAT ANTWERPEN

Postal Code

2018

Country

--

 

Company Director

Full Name

MUKESH RASHIKLAL SARAIYA

Position

Manager

Address

112 BELGIELEI ANTWERPEN

Postal Code

2018

Country

--

 

 

NEGATIVE INFORMATION

 

Court Data

Protested Bills

Drawee Name

--

Drawee Address

--

Bill Amount

 

Bill Currency

--

Maturity of Bill (month)

 

Name of Drawer

--

City of Drawer

--

 

NSSO Details

Business Number

 

Name of Defendant

--

Legal Form of Defendant

--

Date of Summons

 

Labour Court

--

 

Bankruptcy Data

There is no bankruptcy data against this company.

Court Data Summary

bankruptcy details

Court Action Type

None

Protested Bills

Bill Amount

 

NSSO Details

Date of Summons

//

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Shareholders

No holding companies for this company.

 

 

PAYMENT INFORMATION

 

Industry Quartile Analysis

Payment Expectation Days

Payment Expectations - Lower

41.25

Payment Expectations - Median

90.32

Payment Expectations - Upper

162.53

Day Sales Outstanding

Day Sales Outstanding - Lower

31.52

Day Sales Outstanding - Median

75.21

Day Sales Outstanding - Upper

158.58

 

Payment Expectations

Payment Expectations

Payment Expectation Days

 

Day Sales Outstanding

 

Past Payments

Payment Expectation Days

 

Days Sales Outstanding

 

Industry Average Payment Expectation Days

137

Industry Average Day Sales Outstanding

124.66

GROUP STRUCTURE & AFFILIATED COMPANIES

 

No subsidiaries for this company.

 

 

FINANCIAL INFORMATION

 

Turnover

-

Results of Ordinary Operations Before Tax

31,973

Networth

54,402

 

Accounts & Ratio

Period

Accounts End Date

31/12/2009

%

31/12/2008

%

31/12/2007

Weeks

52

-

52

-

52

Currency

EUR

-

EUR

-

EUR

 

Profit & Loss

Turnover

-

-

-

-

-

Total Operating Expenses

-

-

-

-

-

Operating Result

37,004

-12.1%

42,117

132.8%

18,095

Total Financial Income

102,581

-0.3%

102,909

7.2%

95,960

Total Financial Expenses

107,239

-8.7%

117,493

34.3%

87,515

Results on Ordinary Operations Before Tax

32,345

17.5%

27,533

3.7%

26,540

Taxation

372

116.3%

172

134.3%

-501

Results on Ordinary Operations After Tax

31,973

16.9%

27,361

1.2%

27,041

Extraordinary Items

0

100.0%

-120

-380.0%

-25

Net Result

31,973

17.4%

27,241

0.8%

27,016

Other Information

Dividends

-

-

-

-

-

Director Remuneration

-

-

25,000

0.0%

25,000

Employee Costs

0

-

0

-

0

- Wages & Salaries

-

-

-

-

-

- Social Security Contributions

-

-

-

-

-

- Other Employee Costs

-

-

-

-

-

Amortization & Depreciation

787

1.9%

772

5.2%

734

 

Balance Sheet

Accounts End Date

31/12/2009

%

31/12/2008

%

31/12/2007

Weeks

52

-

52

-

52

Intangible Fixed Assets

0

-

0

-

0

Tangible Fixed Assets

1,076

-42.2%

1,863

-29.3%

2,635

- Land And Buildings

0

-

0

-

0

- Plant And Machinery

1,076

-42.2%

1,863

-29.3%

2,635

- Other Tangible Assets

0

-

0

-

0

Financial Fixed Assets

1,116

0.0%

1,116

0.0%

1,116

Total Fixed Assets

2,192

-26.4%

2,979

-20.6%

3,751

Inventories

- Raw Materials & Consumables

0

-

0

-

0

- Work in Progress

0

-

0

-

0

- Finished Goods

0

-

0

-

0

- Other Stocks

112,100

-43.6%

198,694

8.9%

182,512

Trade Debtors

479,224

54.5%

310,081

1.0%

307,021

Cash

213,638

-20.3%

268,220

11.9%

239,691

- Miscellaneous Current Assets

1,942

30.5%

1,488

11.7%

1,332

Total Current Assets

808,202

3.6%

780,325

6.6%

731,873

 

- Trade Creditors

423,170

29.1%

327,902

6.6%

307,676

- Short Term Group Loans

0

-

0

-

0

- Other Short Term Loans

0

-100.0%

1,078

-

0

- Miscellaneous Current Liabilities

332,821

-17.8%

404,683

6.3%

380,760

Total Current Liabilities

755,991

3.0%

733,663

6.6%

688,436

 

- Long Term Group Loans

0

-

0

-

0

- Other Long Term Loans

0

-

0

-

0

- Other Long Term Liabilities

0

-100.0%

212

-

0

Total Long Term Debts

0

-100.0%

212

-

0

 

- Issued Share Capital

18,592

0.0%

18,592

0.0%

18,592

- Share Premium Account

0

-

0

-

0

- Reserves

35,810

16.1%

30,837

7.8%

28,595

- Revaluation Reserve

0

-

0

-

0

Total Shareholders Equity

54,402

10.1%

49,429

4.8%

47,187

 

Working Capital

52,211

11.9%

46,662

7.4%

43,437

Net Worth

54,402

10.1%

49,429

4.8%

47,187

 

Ratio Analysis

Trading Performance

Pre-tax Profit Margin

-

-

-

-

-

 

Return On Capital Employed

59.46

7.2%

55.46

-1.4%

56.24

 

Return On Total Assets Employed

3.99

13.7%

3.51

-2.8%

3.61

 

Return On Net Assets Employed

61.95

5.0%

59.01

-3.4%

61.10

 

Sales / Net Working Capital

-

-

-

-

-

 

Operating Efficiency

 

Stock Turnover Ratio

-

-

-

-

-

 

Debtor Days

-

-

-

-

-

 

Creditor Days

-

-

-

-

-

 

Short Term Stability

 

Current Ratio

1.07

0.9%

1.06

0.0%

1.06

 

Liquidity Ratio / Acid Ratio

0.92

16.5%

0.79

-1.2%

0.80

 

Current Debt Ratio

13.90

-6.3%

14.84

1.7%

14.59

 

Long Term Stability

 

Gearing

0

-100.0%

2.18

-

0

 

Equity In Percentage

0.07

16.7%

0.06

0.0%

0.06

 

Total Debt Ratio

0

-100.0%

0.02

-

0

 

 

 

FOREIGN EXCHANGE RATES

 

Na

ADDITIONAL INFORMATION

 

 

Activity Description

Wholesale of diamonds and other precious stones

Activity Code

46761

Liable For Vat

yes

Currency

Euro (€)

 

Latest Branch Details

Street

SCHUPSTRAAT

House Number

1

City

ANTWERPEN

Postal Code

2018

Trade Registered Number

308527

Trade Registered Entry Date

01/03/1995

 

 

Contractor Details

Registration Number

--

Contractor Description

--

Striking Off Date

//

 

Latest Event

Serial Number

61752

Event Description

Transfer of registered office

 

Industry Comparison

Activity Code

46761

Activity Description

Wholesale of diamonds and other precious stones

Activity Code

4676

Activity Description

Wholesale of other intermediate products

Industry Average Day Sales Outstanding

124.66

Industry Average Payment Expectation Days

137

 

DIAMOND INDUSTRY – INDIA

 

-          From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8th Century B.C.  India, in fact, remained undisputed leader till 18th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

-          The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

-          The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

-          Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

-          Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

-          The diamond jewellery industry in India today may be more than Rs 60000 mil and is rated amongst the fastest growing  in the world. Indi ranks third in the world in domestic diamond consumption.

-          Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

-          Excerpts from Times of India dated 30th October 2010 is as under –

 

DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT

This could be the biggest credibility crisis the Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months ago, they had not repaid  these dues. Bankers believe many diamantaires borrowed money during the economic downturn two years ago and diverted funds to businesses like real estate and capital markets. Many of themselves made money from these businesses but their diamond companies have gone sick and declared insolvency.

-          Most of the money borrowed from the banks in the name of their diamond business has been diverted in real estate and the share market. The banks are not in a position to seize their properties because in many cases, these were purchased in the name of their relatives and friends.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.08

UK Pound

1

Rs.78.65

Euro

1

Rs.67.79

 

 

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.