MIRA INFORM REPORT
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Report Date : |
02.11.2012 |
IDENTIFICATION DETAILS
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Name : |
S.R. DIAMOND BVBA |
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Registered Office : |
62, Pelikaanstraat, Antwerpen |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
03.01.2008 |
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Com. Reg. No.: |
894975250 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesale of diamonds and other precious stones |
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No. of Employees : |
0 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Slow |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Belgium |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and
private-enterprise-based economy has capitalized on its central geographic
location, highly developed transport network, and diversified industrial and
commercial base. Industry is concentrated mainly in the more heavily-populated
region of Flanders in the north. With few natural resources, Belgium imports
substantial quantities of raw materials and exports a large volume of
manufactures, making its economy vulnerable to volatility in world markets.
Roughly three-quarters of Belgium's trade is with other EU countries, and
Belgium has benefited most from its proximity to Germany. In 2011 Belgian GDP
grew by 2.0%, the unemployment rate decreased slightly to 7.7% from 8.3% the
previous year, and the government reduced the budget deficit from a peak of 6%
of GDP in 2009 to 4.2% in 2011. Despite the relative improvement in Belgium's
budget deficit, public debt hovers near 100% of GDP, a factor that has
contributed to investor perceptions that the country is increasingly vulnerable
to spillover from the euro-zone crisis. Belgian banks were severely affected by
the international financial crisis in 2008 with three major banks receiving
capital injections from the government, and the nationalization of the Belgian
arm of a Franco-Belgian bank. An ageing population and rising social
expenditures are mid- to long-term challenges to public finances.
Source : CIA
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company details |
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Company Number |
894975250 |
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Name |
|
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Address |
62, PELIKAANSTRAAT, ANTWERPEN |
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Post Code |
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Telephone Number |
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Fax Number |
-- |
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Establishment Date |
03-01-2008 |
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Company Status |
ACTIVE |
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Company Type |
Private limited liability company |
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Number of Employees |
0 |
|
Activity Description |
Wholesale of diamonds and other precious stones |
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Activity Code |
46761 |
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Liable For Vat |
yes |
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Currency |
Euro (€) |
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Latest Branch Details |
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Street |
-- |
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House Number |
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City |
-- |
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Postal Code |
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Trade Registered Number |
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Trade Registered Entry Date |
-- |
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Contractor Details |
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Registration Number |
-- |
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Contractor Description |
-- |
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Striking Off Date |
-- |
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Latest Event |
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Serial Number |
25833 |
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Event Description |
Appointment |
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Limit |
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Credit Information |
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Purchase Limit (€) |
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Industry Comparison |
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Payment Expectations |
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Payment Expectations |
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Payment Expectation Days |
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Day Sales Outstanding |
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Industry Comparison |
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Activity Code |
4676 |
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Activity Description |
Wholesale of other intermediate products |
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Industry Average
Day Sales Outstanding |
124.66 |
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Industry Average Payment Expectation Days |
137 |
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Industry Quartile Analysis |
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Payment Expectations - Lower |
41.25 |
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Payment Expectations - Median |
90.32 |
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Payment Expectations - Upper |
162.53 |
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Day Sales Outstanding - Lower |
31.52 |
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Day Sales Outstanding - Median |
75.21 |
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Day Sales Outstanding - Upper |
158.58 |
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Company Shareholder Holding |
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Period |
||
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Accounts End Date |
31-12-2009 |
31-12-2008 |
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Currency |
EUR |
EUR |
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Weeks |
52 |
52 |
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Profit & Loss |
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Turnover |
- |
- |
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Total Operating Expenses |
- |
- |
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Operating Result |
6,735 |
3,501 |
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Total Financial Income |
1 |
3 |
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Total Financial Expenses |
1,053 |
500 |
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Results on Ordinary Operations Before Tax |
5,683 |
3,003 |
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Taxation |
1,227 |
722 |
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Results on Ordinary Operations After Tax |
4,456 |
2,281 |
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Extraordinary Items |
0 |
0 |
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Net Result |
4,457 |
2,281 |
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Other Information |
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Dividends |
- |
- |
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Director Remuneration |
- |
- |
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Employee Costs |
0 |
0 |
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- Wages & Salaries |
- |
- |
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- Employee Pension Costs |
- |
- |
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- Social Security Contributions |
- |
- |
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- Other Employee Costs |
- |
- |
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Amortization & Depreciation |
- |
- |
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Balance Sheet |
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Intangible Fixed Assets |
0 |
0 |
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Tangible Fixed Assets |
0 |
0 |
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- Land And Buildings |
0 |
0 |
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- Plant And Machinery |
0 |
0 |
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- Other Tangible Assets |
0 |
0 |
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Financial Fixed Assets |
967 |
0 |
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Total Fixed Assets |
967 |
0 |
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Inventories |
908,351 |
420,047 |
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- Raw Materials & Consumables |
0 |
0 |
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- Work in Progress |
0 |
0 |
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- Finished Goods |
0 |
0 |
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- Other Stocks |
908,351 |
420,047 |
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Trade Debtors |
503,918 |
460,055 |
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Cash |
465,016 |
157,588 |
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- Miscellaneous Current Assets |
2,192 |
0 |
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Total Current Assets |
1,882,388 |
1,037,690 |
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Current Liabilities |
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- Trade Creditors |
1,112,041 |
707,221 |
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- Short Term Group Loans |
0 |
0 |
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- Other Short Term Loans |
0 |
0 |
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- Miscellaneous Current Liabilities |
745,140 |
309,588 |
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Total Current Liabilities |
1,857,181 |
1,016,809 |
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Long Term Debts |
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- Long Term Group Loans |
0 |
0 |
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- Other Long Term Loans |
0 |
0 |
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- Other Long Term Liabilities |
836 |
0 |
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Total Long Term Debts |
836 |
0 |
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Shareholders Equity |
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- Issued Share Capital |
18,600 |
18,600 |
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- Share Premium Account |
0 |
0 |
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- Reserves |
6,738 |
2,281 |
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- Revaluation Reserve |
0 |
0 |
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Total Shareholders Equity |
25,338 |
20,881 |
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Working Capital |
25,207 |
20,881 |
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Net Worth |
25,338 |
20,881 |
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Ratio Analysis |
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Trading Performance |
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Results on Ordinary Operations Before Taxation Margin |
- |
- |
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Return On Capital Employed |
21.71 |
14.38 |
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Return On Total Assets Employed |
0.30 |
0.29 |
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Return On Net Assets Employed |
22.55 |
14.38 |
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Sales / Net Working Capital |
- |
- |
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Operating Efficiency |
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Stock Turnover Ratio |
- |
- |
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Debtor Days |
- |
- |
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Creditor Days |
- |
- |
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Short Term Stability |
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Current Ratio |
1.01 |
1.02 |
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Liquidity Ratio / Acid Ratio |
0.52 |
0.61 |
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Current Debt Ratio |
73.30 |
48.70 |
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Long Term Stability |
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Gearing |
0 |
0 |
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Equity In Percentage |
0.01 |
0.02 |
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Total Debt Ratio |
0 |
0 |
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Protested Bills |
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Drawee Name |
-- |
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Drawee Address |
-- |
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Bill Amount |
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Bill Currency |
-- |
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Maturity of Bill (month) |
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Name of Drawer |
-- |
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City of Drawer |
-- |
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NSSO Details |
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Name of Defendant |
-- |
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Legal Form of Defendant |
-- |
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Date of Summons |
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Labour Court |
-- |
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Directors |
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Company Director |
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Full Name |
MITESHKUMAR DAHYABHA SHAH |
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Birth Date |
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Position Description |
Manager |
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Address |
6 ATITHYA NAG TALAUDI NAVSARI GUJARAT |
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Country |
India |
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Postal Code |
0 |
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Birth Date |
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DIAMOND INDUSTRY –
INDIA
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.78 |
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UK Pound |
1 |
Rs.86.77 |
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Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.