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Report Date : |
25.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
NICE DIMON BVBA |
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|
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Registered Office : |
Pelikaanstraat 62, Antwerpen 2018 |
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Country : |
Belgium |
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|
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Financials (as on) : |
2012 |
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Date of Incorporation : |
24.02.1995 |
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Com. Reg. No.: |
454587431 |
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Legal Form : |
Private Limited Company (BL/LX) |
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Line of Business : |
Wholesale of diamonds and other precious stones |
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|
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No. of Employees : |
NIL |
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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|
|
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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 |
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Very High |
C1 |
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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 NICE DIMON BVBA
Company Registration 454587431
Country BE
Activity Code 46761
Activity Description Wholesale of
diamonds and other precious stones
Company Status Active
Latest Turnover 0.00 (EUR)
Latest Shareholders Equity 88,989.00 (EUR)
Profit Before Tax
(EUR) 63,863.00
Activities
Activity Code 46761
Activity Description Wholesale of
diamonds and other precious stones
Basic Information
Company Name NICE DIMON BVBA
Registered Company Name NICE DIMON BVBA
Company Registration Number 454587431
Country BE
VAT Registration Number BE.0454.587.431
Date of Company Registration 24/02/1995
Date of Starting Operations 24/02/1995
Commercial Court Legal Form Private Limited
Company (BL/LX)
Type of Ownership 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 03/2930277
Address PELIKAANSTRAAT 62
ANTWERPEN 2018
Country BE
Telephone 03/2930277
Address 1 SCHUPSTRAAT,
ANTWERPEN 2018
Country BE
Name MUKESH SARAIYA
Address 112 BELGIËLEI
ANTWERPEN
Position Principal Manager
Date Appointed 24/02/1995
Name SACHIN SHAH
Address 2 GOUNODSTRAAT
ANTWERPEN
Position Principal Manager
Date Appointed 04/08/2010
Issued Share capital 18,592.01 (EUR)
Name Sachin SHAH
Name Mukesh SARAIYA
Year 2012
Number of Employees 0
Profit & Loss
Financial Year
2012 2011 2010
Number of Weeks 52 52 52
Currency EUR EUR EUR
Revenue 0.00 0.00 0.00
Operating Costs 0.00 0.00 0.00
Operating Profit 49,076.00 51,442.00
43,348.00
Wages & Salaries 0.00 0.00 0.00
Pension Costs 0.00 0.00 0.00
Depreciation 99.00 589.00
669.00
Financial Income 140,914.00 154,789.00 130,819.00
Financial Expenses 126,127.00 163,765.00 141,968.00
Profit Before Tax 63,863.00 42,467.00
32,199.00
Tax 1,720.00 721.00
2,000.00
Profit After Tax 62,143.00 41,746.00
30,199.00
Dividends 0.00 0.00 0.00
Other Appropriations 0.00 0.00 0.00
Retained Profit 62,143.00 41,746.00
30,199.00
Balance Sheet
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 215.00 314.00
903.00
Other Tangible
Assets 0.00 0.00 0.00
Total Tangible Assets 215.00 314.00
903.00
Other Intangible
Assets 0.00 0.00 0.00
Total Intangible
Assets 0.00 0.00 0.00
Miscellaneous Fixed Assets 1,116.00 1,116.00
1,116.00
Total Other Fixed Assets 1,116.00 1,116.00
1,116.00
Total Fixed Assets 1,330.00 1,430.00
2,018.00
Raw Materials
0.00 0.00 0.00
Work in Progress
0.00 0.00 0.00
Finished Goods 0.00 0.00 0.00
Other Inventories 257,953.00 269,518.00 148,571.00
Total Inventories
257,953.00 269,518.00 148,571.00
Trade Receivables
601,055.00 550,010.00 429,068.00
Miscellaneous Receivables 1,297.00 1,812.00
1,773.00
Total Receivables 602,352.00 551,822.00 430,841.00
Cash 200,095.00 316,386.00 197,090.00
Other Current Assets
2,042.00 1,589.00
1,959.00
Total Current Assets 1,062,441.00 1,139,315.00 778,461.00
Total Assets 1,063,772.00 1,140,745.00 780,479.00
Trade Payables
649,246.00 751,099.00 372,597.00
Other Loans/Finance 0.00 0.00 0.00
Miscellaneous Liabilities 325,537.00 322,799.00 350,781.00
Total Current Liabilities
974,783.00 1,073,899.00 723,379.00
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 974,783.00
1,073,899.00 723,379.00 |
|
Called Up Share Capital 18,592.00 18,592.00 18,592.00 |
|
Share
Premium 0.00
0.00
0.00 |
|
Revenue Reserves 70,397.00 48,254.00 38,509.00 |
|
Other Reserves
0.00
0.00
0.00 |
|
Total Shareholders Equity 88,989.00 66,846.00 57,101.00 |
|
Other Financials |
|
Working Capital 87,659.00 65,417.00 55,082.00 |
|
Net Worth
88,989.00 66,846.00 57,101.00 |
Ratios
Pre-Tax Profit Margin
0.00 0.00 0.00
Return on Capital
Employed 71.77 63.53
56.39
Return on Total Assets
6.00 3.72 4.13
Employed
Return on Net Assets
Employed 71.77 63.53
56.39
Sales/Net Working
Capital 0.00 0.00 0.00
Stock Turnover
Ratio 0.00 0.00 0.00
Debtor Days 0.00 0.00 0.00
Creditor Days 0.00 0.00 0.00
Current Ratio 1.09 1.06 1.08
Liquidity Ratio/Acid Test 0.83 0.81 0.87
Current Debt Ratio 10.95 16.07
12.67
Gearing 0.00 0.00 0.00
Equity in Percentage
8.37 5.86 7.32
Total Debt Ratio 10.95 16.07
12.67
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.
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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.
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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.62.66 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
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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 |
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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.