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Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ROSEDIAM BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 2
Antwerpen 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
23.10.1985 |
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|
|
|
Com. Reg. No.: |
427999929 |
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|
|
|
Legal Form : |
Private Limited Company |
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|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones. |
|
|
|
|
No. of Employees : |
01 |
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 : |
No complaints |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 1.8%, the unemployment rate decreased slightly to 7.2% 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 and 3.3% in 2012. Fourth quarter GDP growth in 2012 was at -0.1%, the third consecutive quarter of negative growth. This brought economic growth for the whole of 2012 to negative 0.2%. It also left Belgium on the brink of a possible recession at the end of 2012. However, at year's end, the government appeared close to meeting its 2012 budget deficit goal of 3% of GDP. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 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 retail arm of a Franco-Belgian bank.
Source
: CIA
ROSEDIAM BVBApa
|
Company Name ROSEDIAM BVBA Company Registration Number 427999929 Number |
|
|
Country BE |
|
|
Activity Code 46761 Activity Description Wholesale of diamonds and other precious stones |
|
|
Company Status Active Latest Turnover 50,342,584.00 (EUR) |
|
|
Latest Shareholders Equity 2,182,900.00 (EUR) |
Activity Code 46761
Activity Description
Wholesale of diamonds
and other precious stones
Company Name ROSEDIAM BVBA
Registered Company Name ROSEDIAM BVBA
Company Registration Number 427999929
Country BE
VAT Registration Number BE.0427.999.929
Date of Company
Registration 23/10/1985
Date of Starting
Operations 23/10/1985
Legal Form Private Limited Company
(BL/LX)
Company Status Active
Principal Activity
Code 46761
Principal Activity
Description Wholesale of diamonds and other precious
stones
Contact Address
HOVENIERSSTRAAT 2
ANTWERPEN 2018
Contact Telephone
Number 03/2342475
Address HOVENIERSSTRAAT 2 ANTWERPEN 2018
Country BE
Telephone 03/2342475
Address 86 PELIKAANSTRAAT,
ANTWERPEN
2018
Country BE
Name RAJESH KUMAR JAIN
Address 47 MOLENVELDLAAN EDEGEM
Position Principal Manager
Date Appointed
07/11/2010
Name ASHOKKUMAR JAVERCHAND KANKARIYA
Address 96 BELGIËLEI ANTWERPEN
Position Principal Manager
Date Appointed
07/11/2010
Name ANILKUMAR SANGHVI
Address 35 PLANTIN EN MORETUSLEI ANTWERPEN
Position Principal Manager
Date Appointed
07/11/2010
Name RAJENDRAKUMAR JAIN
Position Principal Manager
Date Appointed
26/06/1998
Issued Share capital
18,600.00 (EUR)
Year 2012
Number of Employees
1
Financial Year 2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Revenue 50,342,584.00 53,283,588.00 34,994,077.00
Operating Costs 49,965,385.00 52,915,972.00 34,655,560.00
Operating Profit 377,199.00 367,616.00 338,516.00
Wages & Salaries 28,880.00 34,518.00 35,944.00
Pension Costs 0.00 0.00 0.00
Depreciation 12,281.00 12,321.00 13,118.00
Financial Income 75.00 1,137.00
138.00
Financial Expenses
370,493.00 331,080.00 317,097.00
Profit Before Tax 6,782.00 37,672.00 21,557.00
Tax 87.00 6,335.00
2,407.00
Profit After Tax 6,695.00 31,337.00 19,151.00
Dividends 0.00 0.00 0.00
Other Appropriations 2,066.00 0.00 0.00
Retained Profit 8,761.00 31,337.00 19,151.00
Financial Year
2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Land & Buildings 386,502.00 394,314.00 402,126.00
Plant & Machinery 11,928.00 15,163.00 7,029.00
Other Tangible
Assets 513.00 1,007.00
1,086.00
Total Tangible Assets 398,942.00 410,484.00 410,241.00
Other Intangible
Assets 0.00 0.00 0.00
Total Intangible
Assets 0.00 0.00 0.00
Miscellaneous Fixed
Assets 4,202.00 4,202.00 4,202.00
Total Other Fixed Assets 4,202.00 4,202.00 4,202.00
Total Fixed Assets 403,144.00 414,686.00 414,443.00
Raw Materials
0.00 0.00 0.00
Work in Progress
0.00 0.00 0.00
Finished Goods 8,507,914.00 7,932,971.00 6,648,947.00
Other Inventories 0.00 0.00 0.00
Total Inventories
8,507,914.00 7,932,971.00 6,648,947.00
Trade Receivables
14,312,875.00 13,144,894.00 10,220,533.00
Miscellaneous Receivables 5,149.00 4,272.00 3,264.00
Total Receivables 14,318,024.00 13,149,166.00 10,223,798.00
Cash 96,870.00 15,734.00 188,513.00
Other Current Assets
18,508.00 8,863.00
4,951.00
Total Current Assets 22,941,316.00 21,106,734.00 17,066,208.00
Total Assets 23,344,461.00 21,521,420.00 17,480,651.00
Trade Payables
11,946,896.00 9,683,319.00 6,491,324.00
Other Loans/Finance 7,796,174.00 8,305,318.00 7,418,948.00
Miscellaneous Liabilities 1,418,490.00 1,358,644.00 1,427,578.00
Total Current Liabilities
21,161,561.00 19,347,281.00 15,337,850.00
Other Loans/Finance due after 1 0.00 0.00 0.00
year
Miscellaneous Liabilities due after 1
0.00 0.00 0.00
Total Long Term Liabilities
0.00 0.00 0.00
Total Liabilities
21,161,561.00 19,347,281.00 15,337,850.00
Called Up Share Capital
18,600.00 18,600.00 18,600.00
Share Premium 0.00 0.00 0.00
Revenue Reserves 1,937,584.00 1,928,823.00 1,897,486.00
Other Reserves 226,715.00 226,715.00 226,715.00
Total Shareholders Equity 2,182,900.00 2,174,139.00 2,142,801.00
Other Financials
Working Capital 1,779,755.00 1,759,452.00 1,728,359.00
Net Worth 2,182,900.00 2,174,139.00 2,142,801.00
Pre-Tax Profit Margin 0.01 0.07 0.06
Return on Capital Employed 0.31 1.73 1.01
Return on Total 0.03 0.18 0.12
Employed
Return on Net Assets Employed 0.31 1.73 1.01
Sales/Net Working Capital 28.29 30.28
20.25
Stock Turnover
Ratio 16.90 14.89
19.00
Debtor Days 103.77 90.04
106.60
Creditor Days 87.27 66.79
68.37
Current Ratio 1.08 1.09 1.11
Liquidity Ratio/Acid
Test 0.68 0.68 0.68
Current Debt Ratio 9.69 8.90 7.16
Gearing 357.15 382.00
346.23
Equity in Percentage
9.35 10.10
12.26
Total Debt Ratio 9.69 8.90 7.16
Jic Code 2
Description Additional national
joint committee for the employees
Jic Code 1
Description JSC small merchandisers in the diamant industry and trade
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.
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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.
-
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 –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.33 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.84.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.