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Report Date : |
04.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
DIA-VEER BVBA |
|
|
|
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Registered Office : |
Hoveniersstraat 30 Antwerpen 2018 |
|
|
|
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Country : |
Belgium |
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|
|
|
Financials (as on) : |
2011 |
|
|
|
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Date of Incorporation : |
13.03.1992 |
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|
|
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Com. Reg. No.: |
446886423 |
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|
|
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Legal Form : |
Private Limited Company |
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|
|
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Line of Business : |
Wholesaler of diamonds and other precious stones |
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|
|
|
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 |
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|
|
|
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 – 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 |
Company Name DIA-VEER BVBA
Company Registration Number 446886423
Country BE
Activity Code 46761
Activity Description Wholesale of
diamonds and other precious stones
Company Status Active
Latest Turnover 11,494,200.00
(EUR)
Latest Shareholders Equity 859,976.00 (EUR)
Profit Before Tax (EUR) 58,237.00
Activities
Activity Code 46761
Activity Description Wholesale of diamonds
and other precious stones
Basic Information
Company Name DIA-VEER BVBA
Registered Company Name DIA-VEER BVBA
Company Registration Number 446886423
Country BE
VAT Registration Number BE.0446.886.423
Date of Company Registration 13/03/1992
Date of Starting Operations 13/03/1992
Commercial Court 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 30
ANTWERPEN 2018
Contact Telephone Number 03/2133982
Address HOVENIERSSTRAAT 30
ANTWERPEN 2018
Country
BE
Telephone 03/2133982
Other Addresses
Address 106 BELGIELEI,
ANTWERPEN 2018
Country BE
Name VIPUL RASIKLAL
PAREKH
Address 19 BELGIËLEI
ANTWERPEN
Position Principal Manager
Date Appointed 09/09/2010
Name PANKAJ PAREKH
Address 17 BELGIËLEI
ANTWERPEN
Position Principal Manager
Date Appointed 09/09/2010
Issued Share capital
600,000.00
(EUR)
Year 2011
Number of Employees 0
Profit & Loss
Financial Year 2011 2010 2009
Number of Weeks 52 52 52
Currency EUR EUR EUR
Revenue 11,494,200.00 10,980,535.00 8,082,993.00
Operating Costs 11,434,848.00 10,807,323.00 7,918,901.00
Operating Profit 59,352.00 173,212.00 164,092.00
Wages & Salaries
14,608.00 14,253.00
14,253.00
Pension Costs 0.00 0.00 0.00
Depreciation 25,907.00 13,440.00
14,974.00
Financial Income 34,149.00 25.00
164.00
Financial Expenses 35,264.00 95,655.00
103,512.00
Profit Before Tax 58,237.00 77,582.00
60,744.00
Tax 7,106.00 18,801.00
15,463.00
Profit After Tax 51,131.00 58,781.00
45,281.00
Dividends 0.00 0.00 0.00
Other Appropriations -18,689.00 455.00
0.00
Retained Profit 32,442.00 59,236.00
45,281.00
Balance Sheet
Financial Year 2011 2010 2009
Number of Weeks 52 52 52
Currency EUR EUR EUR
Land & Buildings
260,712.00 267,896.00 157,132.00
Plant & Machinery
2,420.00 3,402.00
9,595.00
Other Tangible Assets 26,923.00 33,452.00
3,746.00
Total Tangible Assets 290,054.00 304,750.00 170,473.00
Other Intangible Assets 0.00 0.00 0.00
Total Intangible Assets 0.00 0.00 0.00
Miscellaneous Fixed Assets 4,665.00 4,665.00
4,665.00
Total Other Fixed Assets 4,665.00 4,665.00
4,665.00
Total Fixed Assets 294,720.00 309,415.00 175,138.00
Raw Materials 0.00 0.00 0.00
Work in Progress 0.00 0.00 0.00
Finished Goods 1,187,078.00 1,442,730.00 730,642.00
Other Inventories 0.00 0.00 0.00
Total Inventories 1,187,078.00 1,442,730.00 730,642.00
Trade Receivables 4,408,346.00 5,508,141.00 3,898,329.00
Miscellaneous Receivables 7,000.00 10,227.00
20,014.00
Total Receivables 4,415,346.00 5,518,368.00 3,918,343.00
Cash 369,505.00 164,114.00 52,552.00
Other Current Assets 11,141.00 9,829.00
8,342.00
Total Current Assets 5,983,069.00 7,135,041.00 4,709,879.00
Total Assets 6,277,789.00 7,444,456.00 4,885,017.00
Trade Payables 4,657,749.00 5,868,303.00 3,326,012.00
Other Loans/Finance
104,579.00 21,599.00
21,580.00
Miscellaneous Liabilities 110,321.00 165,015.00 191,255.00
Total Current Liabilities 4,872,649.00 6,054,917.00 3,538,847.00
Other Loans/Finance
due
after 1 year
545,163.00 562,005.00 577,872.00
Miscellaneous Liabilities
due after 1 year 0.00
0.00 0.00
Total Long Term Liabilities 545,163.00 562,005.00 577,872.00
Total Liabilities 5,417,812.00 6,616,922.00 4,116,719.00
Called Up Share Capital 600,000.00 600,000.00 600,000.00
Share Premium 0.00 0.00 0.00
Revenue Reserves 259,976.00 227,534.00 168,298.00
Other Reserves 0.00 0.00 0.00
Total Shareholders
Equity 859,976.00 827,534.00 768,298.00
Other Financials
Working Capital 1,110,420.00 1,080,124.00 1,171,032.00
Net Worth 859,976.00 827,534.00 768,298.00
Pre-Tax Profit Margin 0.51 0.71 0.75
Return on Capital Employed4.14 5.58 4.51
Return on Total Assets
Employed 0.93 1.04 1.24
Return on Net Assets
Employed 6.77 9.38 7.91
Sales/Net Working Capital 10.35 10.17
6.90
Stock Turnover Ratio 10.33 13.14
9.04
Debtor Days 139.99 183.09
176.04
Creditor Days 148.68 198.19
153.30
Current Ratio 1.23 1.18 1.33
Liquidity Ratio/Acid Test 0.98 0.94 1.12
Current Debt Ratio 5.67 7.32 4.61
Gearing 75.55 70.52
78.02
Equity in Percentage 13.70 11.12
15.73
Total Debt Ratio 6.30 8.00 5.36
Joint Industrial Committee
Jic Code 1
Description Additional
national joint committee for the employees
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.61.93 |
|
UK Pound |
1 |
Rs.100.44 |
|
Euro |
1 |
Rs.84.24 |
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.