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Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
R.S. DIAMONDS BVBA |
|
|
|
|
Registered Office : |
Pelikaanstraat 62 Antwerpen 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
19.11.2009 |
|
|
|
|
Com. Reg. No.: |
820696808 |
|
|
|
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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 : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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
R.S. DIAMONDS BVBA
|
Company Name R.S. DIAMONDS BVBA Company Registration 820696808 Number |
|
Country BE |
|
Activity Code 46761 Activity Description Wholesale of diamonds and other precious stones |
|
Company Status Active Latest Turnover 10,004,346.00 (EUR) |
|
Latest Shareholders Equity 508,962.00 (EUR) |
Activities
Activity Code 46761
Activity Description Wholesale of diamonds and other precious stones
Company Name R.S. DIAMONDS BVBA
Registered Company Name R.S. DIAMONDS BVBA
Company Registration Number 820696808
Country BE
VAT Registration Number BE.0820.696.808
Date of Company Registration 19/11/2009
Date of Starting Operations 19/11/2009
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 PELIKAANSTRAAT 62
ANTWERPEN 2018
Contact Telephone Number 03/2974942
Address PELIKAANSTRAAT 62 ANTWERPEN 2018
Country BE
Telephone 03/2974942
Name RAJESH KUMAR NAMA
Address 151 BELGIËLEI ANTWERPEN
Position Principal Manager
Date Appointed 18/01/2011
Issued Share capital 473,111.02 (EUR)
Year 2012
Number of Employees 0
PROFIT & LOSS
Financial Year 2012 2011 2010
Number of Weeks 52 52 58
Currency EUR EUR EUR
Revenue 10,004,346.00 0.00 0.00
Operating Costs 9,978,621.00 0.00 0.00
Operating Profit 25,724.00 20,227.00 9,311.00
Wages & Salaries 0.00 0.00 0.00
Pension Costs 0.00 0.00 0.00
Depreciation 3,819.00 3,149.00 1,317.00
Financial Expenses 6,103.00 2,789.00 2,088.00
Profit Before Tax 19,784.00 17,497.00 7,223.00
Tax 2,373.00 4,140.00 2,139.00
Profit After Tax 17,411.00 13,357.00 5,084.00
Dividends 0.00 0.00 0.00
Other Appropriations 0.00 0.00 0.00
Retained Profit 17,411.00 13,356.00 5,084.00
BALANCE SHEET
Financial Year 2012 2011 2010
Number of Weeks 52 52 58
Currency EUR EUR EUR
Land & Buildings 0.00 0.00 0.00
Plant & Machinery 2,934.00 3,886.00 0.00
Other Tangible Assets 3,602.00 3,595.00 4,328.00
Total Tangible Assets 6,537.00 7,481.00 4,328.00
Other Intangible Assets 0.00 0.00 0.00
Total Intangible Assets 0.00 0.00 0.00
Miscellaneous Fixed Assets 1,190.00 1,190.00 1,190.00
Total Other Fixed Assets 1,190.00 1,190.00 1,190.00
Total Fixed Assets 7,727.00 8,671.00 5,518.00
Raw Materials 0.00 0.00 0.00
Work in Progress 0.00 0.00 0.00
Finished Goods 1,773,114.00 0.00 0.00
Other Inventories 0.00 1,504,984.00 1,445,859.00
Total Inventories 1,773,114.00 1,504,984.00 1,445,859.00
Trade Receivables 3,341,566.00 587,558.00 318,953.00
Miscellaneous Receivables 2,352.00 2,321.00 599.00
Total Receivables 3,343,917.00 589,879.00 319,551.00
Cash 14,841.00 29,198.00 38,313.00
Other Current Assets 1,145.00 378.00 0.00
Total Current Assets 5,133,017.00 2,124,439.00 1,803,723.00
Total Assets 5,140,744.00 2,133,110.00 1,809,241.00
Trade Payables 4,071,864.00 1,402,847.00 1,115,480.00
Other Loans/Finance 342,124.00 0.00 0.00
Miscellaneous Liabilities 217,794.00 693,223.00 668,706.00
Total Current Liabilities 4,631,782.00 2,096,070.00 1,784,186.00
Other Loans/Finance
due after 1 year 0.00 0.00 0.00
Miscellaneous Liabilities
due after 1 year 0.00 0.00 0.00
Total Long Term Liabilities 0.00 0.00 0.00
Total Liabilities 4,631,782.00 2,096,070.00 1,784,186.00
Called Up Share Capital 473,111.00 18,600.00 19,971.00
Share Premium 0.00 0.00 0.00
Revenue Reserves 35,851.00 18,440.00 5,084.00
Other Reserves 0.00 0.00 0.00
Total Shareholder Equity 508,962.00 37,040.00 25,055.00
Other Financials
Working Capital 501,235.00 28,369.00 19,537.00
Net Worth 508,962.00 37,040.00 25,055.00
Pre-Tax Profit Margin 0.20 0.00 0.00
Return on Capital Employed 3.89 47.24 28.83
Return on Total Assets 0.38 0.82 0.40
Return on Net Assets Employed 3.89 47.24 28.83
Sales/Net Working Capital 19.96 0.00 0.00
Stock Turnover Ratio 17.72 0.00 0.00
Debtor Days 121.91 0.00 0.00
Creditor Days 148.94 0.00 0.00
Current Ratio 1.11 1.01 1.01
Liquidity Ratio/Acid Test 0.73 0.30 0.20
Current Debt Ratio 9.10 56.59 71.21
Gearing 67.22 0.00 0.00
Equity in Percentage 9.90 1.74 1.38
Total Debt Ratio 9.10 56.59 71.21
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.
-
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.61.92 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.