|
Report Date : |
09.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
DIA-VEER BVBA |
|
|
|
|
|
|
Registered Office : |
Hoveniersstraat 30 Bus 229 Antwerpen 2018 |
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
|
|
Date of Incorporation : |
13.03.1992 |
|
|
|
|
|
|
Com. Reg. No.: |
446886423 |
|
|
|
|
|
|
Legal Form : |
Private Limited Company (BL/LX) |
|
|
|
|
|
|
Line of Business : |
Wholesale of Diamonds and other Precious Stones |
|
|
|
|
|
|
No. of Employees : |
Not Available |
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but correct |
|
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) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
Business number 446886423
Company name DIA-VEER BVBA
Telephone number 032133982
Address HOVENIERSSTRAAT 30
BUS 229 ANTWERPEN
Fax number 032263815
Post code 2018
Number of staff 0
Date of
establishment 13/03/1992
|
DATE OF LATEST
ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
|
31/12/2010 |
10,980,535 |
77,582 |
827,534 |
|
31/12/2009 |
8,082,993 |
60,744 |
768,298 |
|
31/12/2008 |
9,374,377 |
62,911 |
723,017 |
|
DATE OF LATEST
ACCOUNTS |
BALANCE
TOTAL |
INVESTMENTS |
CAPITAL |
CASH
FLOW |
NUMBER
OF EMPLOYEES |
|
31/12/2010 |
7,444,456 |
4,665 |
600,000 |
164,114 |
0 |
|
31/12/2009 |
4,885,017 |
4,665 |
600,000 |
52,552 |
0 |
|
31/12/2008 |
4,715,199 |
4,665 |
600,000 |
48,300 |
0 |
Payment
expectations
|
Past payments |
|
Payment
expectation days |
198.19 |
|
Industry average
payment |
181.66 |
Industry average
day sales |
120.19 |
expectation days outstanding
Day sales outstanding 183.09
|
BANKRUPTCY
DETAILS |
|
|
Court action type |
no |
|
PROTESTED BILLS |
|
|
Bill amount |
- |
|
NSSO DETAILS |
|
|
Date of summons |
- |
Business number 446886423 Company name DIA-VEER BVBA
Fax number 032263815 Date founded 13/03/1992
Company status active Company type Private Limited
Company (BL/LX)
Currency Euro (€) Date of latest
accounts 31/12/2010
Activity code 46761 liable for VAT yes
Activity description Wholesale of
diamonds and other precious stones
VAT Number BE.0446.886.423
Belgian Bullettin of Acts
Publications moniteur belge
Contractor details
|
Registered
contractor number |
- |
|
Contractor
description |
- |
|
Date struck off
register |
|
|
Personnel limit
NSSO |
|
|
Code |
- |
|
Description |
FROM
1 TO 4 EMPLOYEES |
|
Joint Industrial
Committee (JIC) |
|
|
JIC Code |
218 |
|
Description |
Additional
national joint committee for the employees |
|
category |
|
Export accounts to CSV file
comparison mode average
profit and loss
|
Annual
accounts |
31-12-2010 |
|
31-12-2009 |
% |
31-12-2008 |
Industry average
2010 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
10,980,535 |
35.85 |
8,082,993 |
-13.78 |
9,374,377 |
46,740,522 |
-76.51 |
|
Total
operating expenses |
10,807,323 |
36.48 |
7,918,901 |
-14.25 |
9,234,560 |
46,135,968 |
-76.58 |
|
Operating
result |
173,212 |
5.56 |
164,092 |
17.36 |
139,817 |
209,836 |
-17.45 |
|
Total
financial income |
25 |
-84.76 |
164 |
272 |
44 |
156,494 |
-99 |
|
Total
financial expenses |
95,655 |
-7.59 |
103,512 |
34.52 |
76,950 |
309,305 |
-69.07 |
|
Results
on ordinary operations before taxation |
77,582 |
27.72 |
60,744 |
-3.44 |
62,911 |
41,001 |
89.22 |
|
Taxation |
18,801 |
21.59 |
15,463 |
-7.14 |
16,652 |
15,160 |
24.02 |
|
Results
on ordinary operations after taxation |
58,781 |
29.81 |
45,281 |
-2.11 |
46,259 |
30,715 |
91.38 |
|
Extraordinary
items |
455 |
- |
0 |
- |
0 |
2,671 |
-82.97 |
|
Other
appropriations |
0 |
- |
0 |
- |
0 |
- |
- |
|
Net
result |
59,236 |
30.82 |
45,281 |
-2.11 |
46,259 |
33,383 |
77.44 |
|
Dividends |
- |
- |
- |
- |
- |
326,298 |
- |
|
Director
remuneration |
90,240 |
0 |
90,240 |
0 |
90,240 |
113,424 |
-20.44 |
|
Employee costs |
17,187 |
-1.77 |
17,497 |
6.92 |
16,364 |
144,452 |
-88.10 |
|
Wages
and salary |
14,253 |
0 |
14,253 |
4.51 |
13,638 |
127,039 |
-88.78 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
7,164 |
- |
|
Social
security contributions |
2,639 |
-13.13 |
3,038 |
15.78 |
2,624 |
30,861 |
-91.45 |
|
Other
employee costs |
295 |
43.20 |
206 |
101 |
102 |
3,129 |
-90.57 |
|
Amortization and
depreciation |
13,440 |
-10.24 |
14,974 |
-0.36 |
15,028 |
21,861 |
-38.52 |
Balance sheet
|
Annual
accounts |
31-12-2010 |
% |
31-12-2009 |
% |
31-12-2008 |
Industry average
2010 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
1,691 |
-100 |
|
Tangible
fixed assets |
304,750 |
78.77 |
170,473 |
-8.07 |
185,447 |
194,031 |
57.06 |
|
Land & building |
267,896 |
70.49 |
157,132 |
-2.85 |
161,741 |
359,645 |
-25.51 |
|
Plant & machinery |
3,402 |
-64.54 |
9,595 |
-28.70 |
13,458 |
27,541 |
-87.65 |
|
Other tangible assets |
33,452 |
793 |
3,746 |
-63.45 |
10,248 |
27,327 |
22.41 |
|
Financial
fixed assets |
4,665 |
0 |
4,665 |
0 |
4,665 |
314,215 |
-98.52 |
|
Total
fixed assets |
309,415 |
76.67 |
175,138 |
-7.88 |
190,112 |
407,442 |
-24.06 |
|
Inventories |
1,442,730 |
97.46 |
730,642 |
-34.60 |
1,117,273 |
3,144,238 |
-54.12 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
2,393,499 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,055 |
-100 |
|
Finished goods |
1,442,730 |
97.46 |
730,642 |
-25.50 |
980,753 |
2,075,779 |
-30.50 |
|
Other stocks |
0 |
- |
0 |
-100 |
136,520 |
519,689 |
-100 |
|
Trade
debtors |
5,508,141 |
41.29 |
3,898,329 |
16.81 |
3,337,313 |
3,839,402 |
43.46 |
|
Cash |
164,114 |
212 |
52,552 |
8.80 |
48,300 |
265,248 |
-38.13 |
|
other
amounts receivable |
10,227 |
-48.90 |
20,014 |
-8.94 |
21,980 |
369,718 |
-97.23 |
|
Miscellaneous
current assets |
9,829 |
17.83 |
8,342 |
3674 |
221 |
42,570 |
-76.91 |
|
Total
current assets |
7,135,041 |
51.49 |
4,709,879 |
4.08 |
4,525,087 |
7,131,382 |
0.05 |
|
CURRENT
LIABILITIES |
|||||||
|
Trade
creditors |
5,868,303 |
76.44 |
3,326,012 |
32.96 |
2,501,446 |
2,696,973 |
117 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Other
short term loans |
21,599 |
0.09 |
21,580 |
-45.51 |
39,606 |
1,920,584 |
-98.88 |
|
Miscellaneous
current liabilities |
165,015 |
-13.72 |
191,255 |
-77.68 |
856,793 |
194 |
-- |
|
Total
current liabilities |
6,054,917 |
71.10 |
3,538,847 |
4.15 |
3,397,845 |
4,426,970 |
36.77 |
|
LONG TERM DEBTS |
|||||||
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
-- |
|
Other
long term loans |
562,005 |
-2.75 |
577,872 |
-2.77 |
594,337 |
-64.27 |
-- |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
715,771 |
-100 |
|
Total
long term debts |
562,005 |
-2.75 |
577,872 |
-2.77 |
594,337 |
1,343,254 |
-58.16 |
|
SHAREHOLDERS
EQUITY |
|||||||
|
Issued
share capital |
600,000 |
0 |
600,000 |
0 |
600,000 |
1,024,087 |
-41.41 |
|
Share
premium account |
- |
- |
- |
- |
- |
183,372 |
- |
|
Reserves |
227,534 |
35.20 |
168,298 |
36.81 |
123,017 |
682,076 |
-66.64 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
715,893 |
- |
|
Total
shareholders equity |
827,534 |
7.71 |
768,298 |
6.26 |
723,017 |
1,723,881 |
-52.00 |
|
Working
capital |
1,080,124 |
-7.76 |
1,171,032 |
3.88 |
1,127,242 |
2,704,412 |
-60.06 |
|
Net
worth |
827,534 |
7.71 |
768,298 |
6.26 |
723,017 |
1,722,189 |
-51.95 |
Ratio analysis
|
Annual accounts |
31-12-2010 |
Change (%) |
31-12-2009 |
change(%) |
31-12-2008 |
Industry
average 2010 |
% |
|
|||
|
|
|
|
|
|
|
|
|
|
|||
|
TRADING
PERFORMANCE |
|
||||||||||
|
Profit Before Tax |
0.71 |
-5.33 |
0.75 |
11.94 |
0.67 |
-2,00 |
35.50 |
|
|||
|
Return on capital
employed |
5.58 |
23.73 |
4.51 |
-5.65 |
4.78 |
17,00 |
-67.18 |
|
|||
|
Return on total
assets employed |
1.04 |
-16.13 |
1.24 |
-6.77 |
1.33 |
-78,00 |
1.33 |
|
|||
|
Return on net
assets employed |
9.38 |
18.58 |
7.91 |
-9.08 |
8.70 |
19,00 |
-50.63 |
|
|||
|
Sales / net
working capital |
10.17 |
47.39 |
6.90 |
-17.07 |
8.32 |
35,00 |
-99 |
|
|||
|
Stock turnover
ratio |
13.14 |
45.35 |
9.04 |
-24.16 |
11.92 |
67,00 |
-80.39 |
|
|||
|
Debtor days |
183.09 |
4.00 |
176.04 |
35.48 |
129.94 |
167,00 |
9.63 |
|
|||
|
Creditor days |
198.19 |
29.28 |
153.30 |
55.05 |
98.87 |
171,00 |
15.90 |
|
|||
|
SHORT TERM
STABILITY |
|
||||||||||
|
Current ratio |
1.18 |
-11.28 |
1.33 |
0 |
1.33 |
8,00 |
-86.89 |
||||
|
Liquidity ratio /
acid ratio |
0.94 |
-16.07 |
1.12 |
12.00 |
1 |
5,00 |
-81.20 |
||||
|
Current debt
ratio |
7.32 |
58.79 |
4.61 |
-1.91 |
4.70 |
9,00 |
-18.67 |
||||
|
Liquidity ratio
reprocessed |
- |
- |
- |
- |
- |
- |
- |
||||
|
LONG TERM
STABILITY |
|
||||||||||
|
Gearing |
70.52 |
-9.61 |
78.02 |
-11.02 |
87.68 |
124,00 |
-43.13 |
||||
|
Equity in
percentage |
11.12 |
-29.31 |
15.73 |
2.61 |
15.33 |
-1.492,00 |
0.75 |
||||
|
Total debt ratio |
8 |
49.25 |
5.36 |
-2.90 |
5.52 |
9,00 |
-11.11 |
||||
|
Activity code |
46761 |
|
Activity
description |
Wholesale of
diamonds and other precious stones |
Suspension of
payments / moratorium history
|
Amount |
- |
|
Details |
- |
|
Payment
expectations |
|
|
Payment
expectation days |
198.19 |
|
Day sales outstanding |
183.09 |
Industry comparison
|
Activity code |
46761 |
|
Activity
description |
Wholesale of
diamonds and other precious stones |
|
Industry average payment
expectation days |
181.66 |
|
Industry average day sales
outstanding |
120.19 |
Industry quartile
analysis
|
Payment
expectations |
|
|
Company result |
198.19 |
|
Lower |
131.84 |
|
Median |
77.27 |
|
Upper |
42.51 |
|
|
|
|
Day sales
outstanding |
|
|
Company result |
183.09 |
|
Lower |
109.67 |
|
Median |
57.26 |
|
Upper |
24.18 |
Group Structure
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Summary
Group - Number of Companies 0
Linkages - Number of Companies 0
Number of
Countries 0
NSSO details
Business number 446886423
Bankruptcy details
There is no bankruptcy data against this
company
court data
there is no data
for this company
|
Name |
VIPUL RASIKLAL
PAREKH |
|
Position |
Principal Manager |
|
Street |
19 BELGIELEI
ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
PANKAJ PAREKH |
|
Position |
Principal Manager |
|
Street |
17 BELGIELEI
ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
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.54.44 |
|
UK Pound |
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.