|
Report Date : |
15.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
M. RAJESH BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30 Antwerpen 2018 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
2012 |
|
|
|
|
Date of Incorporation : |
11.02.1994 |
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|
|
|
Com. Reg. No.: |
452095224 |
|
|
|
|
Legal Form : |
One Person Private Limited Company (BE) |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and other precious stones |
|
|
|
|
No. of Employees : |
02 |
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 |
Company Name M. RAJESH BVBA
Company Registration Number 452095224
Country BE
Activity Code 46761
Activity Description Wholesale of
diamonds and other precious stones
Company Status Active
Latest Turnover 90,473,961.00
(EUR)
Latest Shareholders Equity 5,092,564.00 (EUR)
Profit Before Tax 710,807.00
(EUR)
Activities
Activity Code 46761
Activity Description Wholesale of
diamonds and other precious stones
Basic Information
Company Name M. RAJESH BVBA
Registered Company Name M. RAJESH BVBA
Company Registration Number 452095224
Country BE
VAT Registration Number BE.0452.095.224
Date of Company Registration 11/02/1994
Date of Starting Operations 11/02/1994
Legal Form One Person Private
Limited Company (BE)
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 0484681818
Address HOVENIERSSTRAAT 30
ANTWERPEN 2018
Country BE
Telephone 0484681818
Address 203
KRUISHOFSTRAAT, WILRIJK (ANTWERPEN) 2610
Country BE
Issued Share capital 4,217,250.00 (EUR)
Year 2012
Number of Employees 2
Profit & Loss
Financial Year 2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Revenue 90,473,961.00 70,803,580.00 46,993,748.00
Operating Costs 89,295,559.00 69,670,315.00 46,307,681.00
Operating Profit 1,178,401.00 1,133,265.00 686,067.00
Wages & Salaries
82,984.00 64,465.00
36,823.00
Pension Costs 0.00 0.00 0.00
Depreciation 33,173.00 33,394.00
31,826.00
Financial Income 2.00 1.00 6.00
Financial Expenses 467,596.00 606,834.00 527,185.00
Profit Before Tax 710,807.00 526,432.00 158,888.00
Tax 202,421.00 165,563.00 38,311.00
Profit After Tax 508,386.00 360,869.00 120,577.00
Dividends 0.00 0.00 0.00
Other Appropriations 0.00 0.00 -8,653.00
Retained Profit 508,386.00 360,869.00 111,924.00
Balance Sheet
Financial Year 2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Land & Buildings
313,819.00 334,215.00 354,612.00
Plant & Machinery
1,735.00 1,863.00
3,362.00
Other Tangible Assets 70,303.00 38,870.00
48,469.00
Total Tangible Assets 385,857.00 374,949.00 406,443.00
Other Intangible Assets 0.00 0.00 0.00
Total Intangible Assets 0.00 0.00 0.00
Miscellaneous Fixed Assets 0.00 0.00 0.00
Total Other Fixed Assets 0.00 0.00 0.00
Total Fixed Assets 385,857.00 374,949.00 406,443.00
Raw Materials 0.00 0.00 0.00
Work in Progress 0.00 0.00 0.00
Finished Goods 4,499,668.00 2,116,955.00 3,413,994.00
Other Inventories 0.00 0.00 0.00
Total Inventories 4,499,668.00 2,116,955.00 3,413,994.00
Trade Receivables 15,057,999.00 13,387,727.00 8,035,354.00
Miscellaneous
Receivables 5,594.00 5,550.00
36,274.00
Total Receivables 15,063,594.00 13,393,277.00 8,071,628.00
Cash 32,972.00 837,122.00 13,874.00
Other Current Assets 6,625.00 6,522.00
8,891.00
Total Current Assets 19,602,858.00 16,353,876.00 11,508,387.00
Total Assets 19,988,715.00 16,728,825.00 11,914,830.00
Trade Payables 13,812,387.00 9,274,733.00 7,740,386.00
Other Loans/Finance
179,674.00 1,829,538.00 72,829.00
Miscellaneous Liabilities 180,136.00 181,371.00 90,754.00
Total Current Liabilities 14,172,197.00 11,285,642.00 7,903,969.00
Other Loans/Finance
due
after 1 year 723,954.00 859,005.00 2,573,802.00
Miscellaneous Liabilities
due after 1 year 0.00 0.00 0.00
Total Long Term Liabilities 723,954.00 859,005.00 2,573,802.00
Total Liabilities 14,896,151.00 12,144,647.00 10,477,771.00
Called Up Share Capital 4,217,250.00 4,217,250.00 1,200,000.00
Share Premium 0.00 0.00 0.00
Revenue Reserves 875,314.00 366,928.00 237,059.00
Other Reserves 0.00 0.00 0.00
Total Shareholders
Equity 5,092,564.00 4,584,178.00 1,437,059.00
Other Financials
Working Capital 5,430,662.00 5,068,235.00 3,604,418.00
Net Worth 5,092,564.00 4,584,178.00 1,437,059.00
Ratios
Pre-Tax Profit Margin 0.79 0.74 0.34
Return on Capital Employed 12.22 9.67 3.96
Return on Total Assets
Employed 3.56 3.15 1.33
Return on Net Assets 13.96 11.48 11.06
Employed 13.96 11.48
11.06
Sales/Net Working Capital 16.66 13.97
13.04
Stock Turnover Ratio 4.97 2.99 7.26
Debtor Days 60.75 69.02
62.41
Creditor Days 56.46 48.59
61.01
Current Ratio 1.38 1.45 1.46
Liquidity Ratio/Acid Test 1.07 1.26 1.02
Current Debt Ratio 2.78 2.46 5.50
Gearing 17.74 58.65
184.17
Equity in Percentage 25.48 27.40
12.06
Total Debt Ratio 2.93 2.65 7.29
Joint Industrial Committee
Jic Code 1
Description Additional
national joint committee for the employees
Negative
Information
Protested Bills
Drawee Name M. RAJESH
Drawee Address HOVENIERSSTRAAT
30, ANTWERPEN, 2018
Bill Amount (EUR) 457422.37
Maturity of Bill
(in Months) 59
Payment Date 04/11/2008
Name of Drawer ANTWERP DIAMOND BANK
City of Drawer ANTWERPEN
Legal Events
Legal Event Type Protested Bill
Level Event Sub
Type Draft
Event Date 07/11/2008
Court Type Commercial Court
Court Name Antwerpen
3rd Party Name M. RAJESH
3rd Party Address HOVENIERSSTRAAT 30 ANTWERPEN 2018
3rd Party Type Debtor
Legal Event Type Protested Bill
Level Event Sub
Type Draft
Event Date 07/11/2008
Court Type Commercial Court
Court Name Antwerpen
3rd Party Name ANTWERP DIAMOND
BANK
3rd Party Address PELIKAANSTRAAT 54 ANTWERPEN 2018
3rd Party Type Creditor
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.61.30 |
|
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.