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Report Date : |
12.09.2013 |
IDENTIFICATION DETAILS
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Name : |
SANKET DIAMONDS BVBA |
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|
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Registered Office : |
Hoveniersstraat 53 Antwerpen 2018 |
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Country : |
Belgium |
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Financials (as on) : |
2012 |
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Date of Incorporation : |
16.05.1990 |
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Com. Reg. No.: |
440709701 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale 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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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.
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Source : CIA |
SANKET DIAMONDS BVBA
Company Name SANKET DIAMONDS
BVBA
Company Registration Number 440709701
Country BE
Activity Code 46761
Activity Description Wholesale of
diamonds and other precious stones
Company Status Active
Latest Turnover 1,415,850.00 (EUR)
Latest Shareholders Equity 119,779.00 (EUR)
Profit Before Tax 21,055.00 (EUR)
ACTIVITIES
Activity Code 46761
Activity Description Wholesale of
diamonds and other precious stones
BASIC INFORMATION
Company Name SANKET DIAMONDS
BVBA
Registered Company Name SANKET DIAMONDS
BVBA
Company Registration Number 440709701
Country BE
VAT Registration Number BE.0440.709.701
Date of Company Registration 16/05/1990
Date of Starting Operations 16/05/1990
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 53
ANTWERPEN 2018
Contact Telephone Number 0475/449093
Address HOVENIERSSTRAAT 53
ANTWERPEN 2018
Country BE
Telephone 0475/449093
Other Addresses
Address 17 SCHUPSTRAAT,
ANTWERPEN 2018
Country BE
Current Directors Managers
Name NARESH JAIN
Address 41 VAN EYCKLEI ANTWERPEN
Position Principal Manager
Date Appointed 12/08/2011
Name RAJIV SHASHIKANT
KOTHARI
Address 26 ARENDSNESTLAAN
EDEGEM
Position Principal Manager
Date Appointed 12/08/2011
Share Capital Structure
Issued Share capital 18,600.00 (EUR)
Employee Information
Year 2012
Number of Employees 0
Financial Year
2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Revenue 1,415,850.00 1,335,701.00 1,030,915.00
Operating Costs 1,388,111.00 1,280,263.00 1,023,477.00
Operating Profit 27,739.00 55,437.00
7,438.00
Wages & Salaries 23,841.00 0.00 0.00
Pension Costs 0.00 0.00 0.00
Depreciation 1,909.00 649.00
83.00
Financial Income 826.00 923.00
588.00
Financial Expenses 7,509.00 4,464.00
4,009.00
Profit Before Tax 21,055.00 51,896.00
4,017.00
Tax 4,928.00 13,393.00
-1,048.00
Profit After Tax 16,127.00 38,502.00
5,065.00
Dividends 0.00 0.00 0.00
Other Appropriations 227.00 0.00 0.00
Retained Profit 16,354.00 38,502.00
5,065.00
Financial Year
2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Land & Buildings 0.00 0.00 0.00
Plant & Machinery 1,416.00 2,187.00
0.00
Other Tangible
Assets 4,397.00 502.00
348.00
Total Tangible Assets 5,814.00 2,688.00
348.00
Other Intangible
Assets 1,796.00 2,326.00
1,325.00
Total Intangible Assets 1,796.00 2,326.00
1,325.00
Miscellaneous Fixed
Assets 9,078.00 8,139.00
4,097.00
Total Other Fixed Assets 9,078.00 8,139.00
4,097.00
Total Fixed Assets 16,688.00 13,154.00
5,770.00
Raw Materials
0.00 0.00 0.00
Work in Progress
0.00 0.00 0.00
Finished Goods 253,389.00 227,180.00 202,877.00
Other Inventories 0.00 0.00 0.00
Total Inventories 253,389.00 227,180.00 202,877.00
Trade Receivables
231,310.00 421,728.00 211,360.00
Miscellaneous Receivables 10,996.00 21,096.00
44.00
Total Receivables 242,306.00 442,824.00 211,404.00
Cash 21,206.00 36,231.00
46,068.00
Other Current Assets
12,055.00 14,056.00
17.00
Total Current Assets 528,956.00 720,291.00 460,367.00
Total Assets 545,644.00 733,445.00 466,137.00
Trade Payables
293,127.00 565,848.00 345,672.00
Other Loans/Finance 0.00 0.00 0.00
Miscellaneous Liabilities 91,052.00 64,172.00
55,542.00
Total Current Liabilities
384,179.00 630,020.00 401,214.00
Other Loans/Finance due
After 1 year 41,686.00
0.00 0.00
Miscellaneous Liabilities due
after 1 year 0.00 0.00 0.00
Total Long Term Liabilities 41,686.00 0.00 0.00
Total Liabilities 425,865.00 630,020.00 401,214.00
Called Up Share Capital
18,600.00 18,600.00
18,600.00
Share Premium 0.00 0.00 0.00
Revenue Reserves 101,179.00 84,825.00
46,323.00
Other Reserves 0.00 0.00 0.00
Total Shareholders Equity 119,779.00 103,425.00 64,923.00
Other Financials
Working Capital 144,777.00 90,271.00
59,153.00
Net Worth 117,983.00 101,099.00 63,598.00
Pre-Tax Profit Margin
1.49 3.89 0.39
Return on Capital Employed 13.04 50.18
6.19
Return on Total Assets
Employed 3.86 7.08 0.86
Return on Net Assets Employed 17.58 50.18
6.19
Sales/Net Working Capital 9.78 14.80
17.43
Stock Turnover Ratio 17.90 17.01
19.68
Debtor Days 59.63 115.24
74.83
Creditor Days 77.08 161.32
123.28
Current Ratio 1.38 1.14 1.15
Liquidity Ratio/Acid Test 0.72 0.78 0.64
Current Debt Ratio 3.21 6.09 6.18
Gearing 34.80 0.00 0.00
Equity in Percentage 22.02 14.15
13.97
Total Debt Ratio 3.56 6.09 6.18
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.
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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.63.90 |
|
UK Pound |
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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.