MIRA
INFORM REPORT
|
Report Date : |
19.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
DHARM DIAM BVBA |
|
|
|
|
Registered Office : |
30, Hoveniersstraat, Antwerpen 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
03.06.2002 |
|
|
|
|
Com. Reg. No.: |
477689960 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Diamonds and Other Precious Stones. |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No complaints |
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|
|
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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 |
Company Summary
|
Company Number |
477689960 |
|
Name |
DHARM DIAM BVBA |
|
Address |
30, HOVENIERSSTRAAT, ANTWERPEN |
|
Post Code |
2018 |
|
Telephone Number |
032341445 |
|
Fax Number |
032341445 |
|
Establishment Date |
03-06-2002 |
|
Company Status |
ACTIVE |
|
Company Type |
Private limited liability company |
|
Number of Employees |
0 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
|
Activity Code |
46761 |
|
Liable For Vat |
yes |
|
Currency |
Euro () |
|
Latest Branch Details |
|
|
Street |
HOVENIERSSTRAAT |
|
House Number |
40 |
|
City |
ANTWERPEN |
|
Postal Code |
2018 |
|
Trade Registered Number |
349976 |
|
Trade Registered Entry Date |
01-07-2002 |
|
Contractor Details |
|
|
Registration Number |
-- |
|
Contractor Description |
-- |
|
Striking Off Date |
-- |
|
Latest Event |
|
|
Serial Number |
89109 |
|
Event Description |
Reappointment commissioner |
|
Limit |
|
|
Credit Information |
|
|
Purchase Limit () |
11,200,000 |
|
Industry Comparison |
|
|
Industry Average Credit Limit () |
160,643 |
Payment Expectations
|
Payment Expectations |
|
|
Payment Expectation Days |
106.76 |
|
Day Sales Outstanding |
63.47 |
|
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 Expectations - Lower |
41.25 |
|
Payment Expectations - Median |
90.32 |
|
Payment Expectations - Upper |
162.53 |
|
|
|
|
Day Sales Outstanding - Lower |
31.52 |
|
Day Sales Outstanding - Median |
75.21 |
|
Day Sales Outstanding - Upper |
158.58 |
|
Company Shareholder Holding |
|
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 |
74,669,469 |
52,267,507 |
33,253,100 |
|
Total Operating Expenses |
73,847,892 |
52,233,245 |
33,252,054 |
|
Operating Result |
821,577 |
34,262 |
1,046 |
|
Total Financial Income |
3,388 |
323 |
101 |
|
Total Financial Expenses |
466,225 |
184,033 |
53,092 |
|
Results on Ordinary Operations Before Tax |
358,740 |
-149,448 |
-51,945 |
|
Taxation |
10,201 |
737 |
- |
|
Results on Ordinary Operations After Tax |
348,539 |
-150,185 |
-51,945 |
|
Extraordinary Items |
1 |
0 |
0 |
|
Net Result |
348,540 |
-150,185 |
-51,945 |
|
Other Information |
|||
|
Dividends |
- |
- |
- |
|
Director Remuneration |
- |
- |
- |
|
Employee Costs |
0 |
0 |
0 |
|
- Wages & Salaries |
- |
- |
- |
|
- Employee Pension Costs |
- |
- |
- |
|
- Social Security Contributions |
- |
- |
- |
|
- Other Employee Costs |
- |
- |
- |
|
Amortization & Depreciation |
11,913 |
12,383 |
7,265 |
|
Balance Sheet |
|||
|
Intangible Fixed Assets |
0 |
0 |
0 |
|
Tangible Fixed Assets |
251,443 |
266,499 |
282,906 |
|
- Land And Buildings |
234,783 |
250,049 |
262,759 |
|
- Plant And Machinery |
3,227 |
1,671 |
2,443 |
|
- Other Tangible Assets |
13,433 |
14,779 |
17,704 |
|
Financial Fixed Assets |
748 |
0 |
0 |
|
Total Fixed Assets |
252,191 |
266,499 |
282,906 |
|
Inventories |
17,333,989 |
29,073,385 |
24,597,948 |
|
- Raw Materials & Consumables |
0 |
0 |
0 |
|
- Work in Progress |
0 |
0 |
0 |
|
- Finished Goods |
0 |
0 |
0 |
|
- Other Stocks |
17,333,989 |
29,073,385 |
24,597,948 |
|
Trade Debtors |
12,983,682 |
9,955,486 |
8,503,086 |
|
Cash |
1,067,208 |
881,411 |
674,334 |
|
- Miscellaneous Current Assets |
-1 |
0 |
0 |
|
Total Current Assets |
31,387,004 |
39,915,628 |
33,778,843 |
|
Current Liabilities |
|||
|
- Trade Creditors |
21,600,206 |
29,583,373 |
30,753,147 |
|
- Short Term Group Loans |
0 |
0 |
0 |
|
- Other Short Term Loans |
3,779,791 |
5,217,800 |
59,105 |
|
- Miscellaneous Current Liabilities |
774,759 |
59,225 |
2,947,881 |
|
Total Current Liabilities |
26,154,756 |
34,860,398 |
33,760,133 |
|
Long Term Debts |
|||
|
- Long Term Group Loans |
0 |
0 |
0 |
|
- Other Long Term Loans |
2,166,265 |
2,249,381 |
254,190 |
|
- Other Long Term Liabilities |
1,193 |
0 |
0 |
|
Total Long Term Debts |
2,167,458 |
2,249,381 |
254,190 |
|
Shareholders Equity |
|||
|
- Issued Share Capital |
3,087,618 |
3,195,698 |
20,000 |
|
- Share Premium Account |
0 |
0 |
0 |
|
- Reserves |
229,362 |
-123,350 |
27,426 |
|
- Revaluation Reserve |
0 |
0 |
0 |
|
Total Shareholders Equity |
3,316,980 |
3,072,348 |
47,426 |
|
|
|||
|
Working Capital |
5,232,248 |
5,055,230 |
18,710 |
|
Net Worth |
3,316,980 |
3,072,348 |
47,426 |
|
Ratio Analysis |
|||
|
Trading Performance |
|||
|
Results on Ordinary Operations Before Taxation Margin |
0.48 |
-0.29 |
-0.16 |
|
Return On Capital Employed |
6.54 |
-2.81 |
-17.22 |
|
Return On Total Assets Employed |
1.13 |
-0.37 |
-0.15 |
|
Return On Net Assets Employed |
6.86 |
-2.96 |
-277.63 |
|
Sales / Net Working Capital |
14.27 |
10.34 |
1777.29 |
|
Operating Efficiency |
|||
|
Stock Turnover Ratio |
23.21 |
55.62 |
73.97 |
|
Debtor Days |
63.47 |
69.52 |
93.33 |
|
Creditor Days |
106.76 |
206.73 |
337.57 |
|
Short Term Stability |
|||
|
Current Ratio |
1.20 |
1.15 |
1 |
|
Liquidity Ratio / Acid Ratio |
0.54 |
0.31 |
0.27 |
|
Current Debt Ratio |
7.89 |
11.35 |
711.85 |
|
Long Term Stability |
|||
|
Gearing |
179.26 |
243.04 |
660.60 |
|
Equity In Percentage |
0.10 |
0.08 |
0 |
|
Total Debt Ratio |
1.79 |
2.43 |
6.61 |
Company Court Data
|
Protested Bills |
|
|
Drawee Name |
-- |
|
Drawee Address |
-- |
|
Bill Amount |
|
|
Bill Currency |
-- |
|
Maturity of Bill (month) |
|
|
Name of Drawer |
-- |
|
City of Drawer |
-- |
|
NSSO Details |
|
|
Name of Defendant |
-- |
|
Legal Form of Defendant |
-- |
|
Date of Summons |
|
|
Labour Court |
-- |
|
Directors |
|
|
Company Director |
|
|
Full Name |
SANDIP PATEL |
|
Birth Date |
|
|
Position Description |
Manager |
|
Address |
56 NARAYANMUNINAGAR SURAT |
|
Country |
India |
|
Postal Code |
0 |
|
Birth Date |
|
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.49.14 |
|
UK Pound |
1 |
Rs.77.58 |
|
Euro |
1 |
Rs.67.58 |
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 SCs 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.