MIRA INFORM REPORT

 

 

Report Date :           

08.11.2011

 

IDENTIFICATION DETAILS

 

Name :

SPECTRA DIAM BVBA

 

 

Registered Office :

Belgielei 50 Antwerpen, Post Code 2018

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

11.03.1992

 

 

Com. Reg. No.:

446829213

 

 

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

SPECTRA DIAM BVBA

Business Number

446829213

Address

BELGIELEI 50 ANTWERPEN

Post Code

2018

Telephone

032329951

Fax Number

032251142

Date of Establishment

11/03/1992

Number of Employees

0

 

Company Information

company details

Business Number

446829213

Name

SPECTRA DIAM BVBA

Fax Number

032251142

Establishment Date

11/03/1992

Company Status

ACTIVE

Company Type

Private limited liability company

Activity Description

Wholesale of diamonds and other precious stones

Activity Code

46761

Liable For Vat

yes

Currency

Euro (€)

 

DIRECTORS/MANAGEMENT

 

Directors

Company Director

Full Name

BHARATKUMAR MEHTA KUNAL

Position

Manager

Address

42 SONGARSHI ROAD MUMBAI

Postal Code

0

Country

India

 

 

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

//

Latest Branch Details

Street

BELGIELEI

House Number

66

City

ANTWERPEN

Postal Code

2018

Trade Registered Number

288819

Trade Registered Entry Date

01/04/1992

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Shareholders

No holding companies for this company.

 

 

PAYMENT INFORMATION

 

Past Payments

Payment Expectation Days

67.68

Days Sales Outstanding

36.15

Industry Average Payment Expectation Days

137

Industry Average Day Sales Outstanding

124.66

Industry Comparison

Activity Code

4676

Activity Description

Wholesale of other intermediate products

Industry Average Day Sales Outstanding

124.66

Industry Average Payment Expectation Days

137

 

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

67.68

Day Sales Outstanding

36.15

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

No subsidiaries for this company.

 

 

FINANCIAL INFORMATION

 

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

2,526,105

-20.2%

3,166,361

180.3%

1,129,671

Total Operating Expenses

2,515,704

-20.3%

3,157,195

181.9%

1,120,084

Operating Result

10,401

13.5%

9,166

-4.4%

9,587

Total Financial Income

1

-

-

-

-

Total Financial Expenses

5,170

-18.0%

6,306

46.7%

4,300

Results on Ordinary Operations Before Tax

5,231

82.9%

2,860

-45.9%

5,287

Taxation

863

331.5%

200

-78.9%

950

Results on Ordinary Operations After Tax

4,368

64.2%

2,660

-38.7%

4,337

Extraordinary Items

0

-

0

-

0

Net Result

4,368

64.2%

2,660

-38.7%

4,337

Other Information

Dividends

-

-

-

-

-

Director Remuneration

-

-

-

-

-

Employee Costs

0

-

0

-

0

- Wages & Salaries

-

-

-

-

-

- Social Security Contributions

-

-

-

-

-

- Other Employee Costs

-

-

-

-

-

Amortization & Depreciation

114

-95.6%

2,580

0.0%

2,580

 

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

0

-100.0%

114

-95.8%

2,694

- Land And Buildings

0

-

0

-

0

- Plant And Machinery

0

-

0

-

0

- Other Tangible Assets

0

-100.0%

114

-95.8%

2,694

Financial Fixed Assets

2,496

0.0%

2,496

0.0%

2,496

Total Fixed Assets

2,496

-4.4%

2,610

-49.7%

5,190

Inventories

- Raw Materials & Consumables

0

-

0

-

0

- Work in Progress

0

-

0

-

0

- Finished Goods

0

-

0

-

0

- Other Stocks

566,958

4.3%

543,487

21.5%

447,382

Trade Debtors

250,207

-52.8%

530,307

59.2%

333,033

Cash

4,749

-72.9%

17,522

106.2%

8,499

- Miscellaneous Current Assets

1,059

-4.7%

1,111

-75.6%

4,546

Total Current Assets

824,881

-24.5%

1,092,803

37.4%

795,255

 

- Trade Creditors

466,476

-37.7%

749,267

61.7%

463,395

- Short Term Group Loans

0

-

0

-

0

- Other Short Term Loans

1,000

1.7%

983

-67.8%

3,052

- Miscellaneous Current Liabilities

294,098

3.7%

283,729

3.1%

275,223

Total Current Liabilities

761,574

-26.3%

1,033,979

39.4%

741,670

 

- Long Term Group Loans

0

-

0

-

0

- Other Long Term Loans

0

-

0

-

0

- Other Long Term Liabilities

0

-

0

-

0

Total Long Term Debts

0

-

0

-

0

 

- Issued Share Capital

18,592

0.0%

18,592

0.0%

18,592

- Share Premium Account

0

-

0

-

0

- Reserves

47,211

10.2%

42,843

6.6%

40,183

- Revaluation Reserve

0

-

0

-

0

Total Shareholders Equity

65,803

7.1%

61,435

4.5%

58,775

 

Working Capital

63,307

7.6%

58,824

9.8%

53,585

Net Worth

65,803

7.1%

61,435

4.5%

58,775

 

Ratio Analysis

 

Trading Performance

 

Pre-tax Profit Margin

0.21

133.3%

0.09

-80.9%

0.47

 

Return On Capital Employed

7.95

70.6%

4.66

-48.2%

9.00

 

Return On Total Assets Employed

0.63

142.3%

0.26

-60.6%

0.66

 

Return On Net Assets Employed

8.26

70.0%

4.86

-50.8%

9.87

 

Sales / Net Working Capital

39.90

-25.9%

53.83

155.4%

21.08

 

Operating Efficiency

 

Stock Turnover Ratio

22.44

30.8%

17.16

-56.7%

39.60

 

Debtor Days

36.15

-40.9%

61.13

-43.2%

107.60

 

Creditor Days

67.68

-21.9%

86.62

-42.6%

151.01

 

Short Term Stability

 

Current Ratio

1.08

1.9%

1.06

-0.9%

1.07

 

Liquidity Ratio / Acid Ratio

0.34

-35.8%

0.53

12.8%

0.47

 

Current Debt Ratio

11.57

-31.3%

16.83

33.4%

12.62

 

Long Term Stability

 

Gearing

1.52

-5.0%

1.60

-69.2%

5.19

 

Equity In Percentage

0.08

33.3%

0.06

-14.3%

0.07

 

Total Debt Ratio

0.02

0.0%

0.02

-60.0%

0.05

 

Turnover

2,526,105

Results of Ordinary Operations Before Tax

4,368

Networth

65,803

 

 

FOREIGN EXCHANGE RATES

 

Na

 

 

ADDITIONAL INFORMATION

 

Contractor Details

Registration Number

--

Contractor Description

--

Striking Off Date

//

 

Latest Event

Serial Number

102373

Event Description

Transfer of registered office

Industry Comparison

Activity Code

46761

Activity Description

Wholesale of diamonds and other precious stones

 

 

NOTES & COMMENTS

 

Na

 

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.