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Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAY DIMON EBVBA |
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|
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Registered Office : |
Hoveniersstraat 2, Antwerpen 2018 |
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|
|
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Country : |
Belgium |
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|
|
|
Financials (as on) : |
2011 |
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|
|
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Date of Incorporation : |
19.12.2002 |
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|
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Com. Reg. No.: |
479202962 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesaler of diamonds and other precious stones |
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|
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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 |
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|
|
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Payment Behaviour : |
Slow but Correct |
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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 JAY
DIMON EBVBA
Company Registration Number 479202962
Country BE
Activity Code 46761
Activity Description Wholesale
of diamonds and other precious stones
Company Status Active
Latest Turnover 27,438,117.00
(EUR)
Latest Shareholders Equity 1,955,849.00
(EUR)
Profit
Before Tax 66,672.00 (EUR)
Activities
Activity Code 46761
Activity Description Wholesale
of diamonds and other precious stones
Basic Information
Company Name JAY DIMON
EBVBA
Registered Company Name JAY
DIMON EBVBA
Company Registration Number 479202962
Country BE
VAT Registration Number BE.0479.202.962
Date of Company Registration 19/12/2002
Date of Starting Operations 19/12/2002
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
2
ANTWERPEN
2018
Contact Telephone Number 03/2324944
Address HOVENIERSSTRAAT
2 ANTWERPEN 2018
Country BE
Telephone 03/2324944
Address 170
BELGIELEI, ANTWERPEN 2018
Country BE
Name SANJAY
MOHANBHAI MUNJANI
Address 170 BELGIËLEI ANTWERPEN
Position Principal
Manager
Date Appointed 09/09/2011
Issued Share capital 1,750,000.00
(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 27,438,117.00 28,044,737.00 12,878,112.00
Operating Costs 27,265,154.00 27,949,826.00 12,808,838.00
Operating Profit 172,963.00 94,911.00
69,274.00
Wages & Salaries
0.00 0.00 0.00
Pension Costs 0.00 0.00 0.00
Depreciation 11,200.00 2,910.00
2,571.00
Financial Income 753.00 8,905.00
1,036.00
Financial Expenses 107,045.00 56,372.00
40,437.00
Profit Before Tax 66,672.00 47,444.00
29,872.00
Tax 980.00 10,714.00
11,329.00
Profit After Tax 65,692.00 36,730.00
18,543.00
Dividends 0.00 0.00 0.00
Other Appropriations 0.00 0.00 0.00
Retained Profit 65,692.00 36,730.00
18,543.00
Balance Sheet
Financial Year 2011 2010 2009
Number of Weeks 52 52 52
Currency EUR EUR EUR
Land & Buildings
315,165.00 300,570.00 0.00
Plant & Machinery
77,492.00 2,473.00
640.00
Other Tangible Assets 3,048.00 689.00
2,399.00
Total Tangible Assets 395,705.00 303,732.00 3,039.00
Other Intangible Assets 0.00 0.00 0.00
Total Intangible Assets 0.00 0.00 0.00
Miscellaneous
Fixed Assets 2,601.00 2,601.00
2,601.00
Total Other Fixed Assets 2,601.00 2,601.00
2,601.00
Total Fixed Assets 398,306.00 306,333.00 5,640.00
Raw Materials 0.00 0.00 0.00
Work in Progress 0.00 0.00 0.00
Finished Goods 4,232,622.00 3,397,349.00 3,094,207.00
Other Inventories 0.00 0.00 0.00
Total Inventories 4,232,622.00 3,397,349.00 3,094,207.00
Trade Receivables 9,932,801.00 6,296,893.00 3,895,285.00
Miscellaneous
Receivables 39,515.00 16,451.00
3,471.00
Total Receivables 9,972,316.00 6,313,343.00 3,898,756.00
Cash 78,219.00 38,897.00
295,941.00
Other Current Assets 553.00 52.00
1.00
Total Current Assets 14,283,710.00 9,749,641.00 7,288,905.00
Total Assets 14,682,016.00 10,055,974.00 7,294,545.00
Trade Payables 10,123,411.00 6,273,505.00 4,865,864.00
Other Loans/Finance
2,259,094.00 1,539,430.00 715,440.00
Miscellaneous Liabilities 134,633.00 123,587.00 1,591,213.00
Total Current Liabilities 12,517,137.00 7,936,523.00 7,172,517.00
Other Loans/Finance
due after 1 year 209,029.00 229,294.00 0.00
Miscellaneous Liabilities
due after 1 year 0.00
0.00 0.00
Total Long Term Liabilities 209,029.00 229,294.00 0.00
Total Liabilities 12,726,167.00 8,165,817.00 7,172,517.00
Called Up Share Capital 1,750,000.00 1,750,000.00 18,600.00
Share Premium 0.00 0.00 0.00
Revenue Reserves 205,849.00 140,158.00 103,428.00
Other Reserves 0.00 0.00 0.00
Total Shareholders
Equity 1,955,849.00 1,890,158.00 122,028.00
Other Financials
Working Capital 1,766,573.00 1,813,119.00 116,388.00
Net Worth 1,955,849.00 1,890,158.00 122,028.00
Ratios
Pre-Tax Profit Margin 0.24 0.17 0.23
Return on Capital Employed 3.08 2.24 24.48
Return on Total Assets
Employed 0.45
0.47 0.41
Return on Net Assets
Employed 3.41 2.51 24.48
Sales/Net Working Capital 15.53 15.47
110.65
Stock Turnover Ratio 15.43 12.11
24.03
Debtor Days 132.13 81.95
110.40
Creditor Days 135.52 81.93
138.66
Current Ratio 1.14 1.23 1.02
Liquidity Ratio/Acid Test 0.80 0.80 0.58
Current Debt Ratio 6.40 4.20 58.78
Gearing 126.19 93.58
586.29
Equity in Percentage 13.32 18.80
1.67
Total Debt Ratio 6.51 4.32 58.78
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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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.61.30 |
|
UK Pound |
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.83.15 |
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.