|
Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
PINALDIAM BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
07.10.1992 |
|
|
|
|
Com. Reg. No.: |
448377352 |
|
|
|
|
Legal Form : |
Private
Limited Company (BL/LX) |
|
|
|
|
Line of Business : |
Wholesaler
of diamonds and other precious stones |
|
|
|
|
No. of Employees : |
01 |
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 but correct |
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 2013 Belgian
GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the
previous year, and the government reduced the budget deficit from a peak of 6%
of GDP in 2009 to 3.2%. 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 |
Business number 448377352
Company name PINALDIAM
BVBA
Address HOVENIERSSTRAAT
30
2018 ANTWERPEN
Number of staff 1 (31.12.2012)
Date of establishment 07/10/1992
Telephone number 014121408
Fax number 032337605
The business was established over 21 years ago.
The business has 1 employees.
The business has been at the address for over 3 years.
A 41% growth in Total Assets occurred during the latest trading period.
The business saw an increase in their Cash Balance of 157% during the
latest trading period.
Turnover in the latest trading period decreased 27% on the previous
trading period.
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2012 |
22,353,032 |
113,126 |
4,388,149 |
4,373,109 |
|
31/12/2011 |
30,977,118 |
111,895 |
4,368,207 |
4,358,364 |
|
31/12/2010 |
14,121,408 |
26,023 |
1,735,855 |
1,728,660 |
Accounts
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
13,397,943 |
01 |
4,092,660 |
106,914 |
|
31/12/2011 |
9,497,163 |
0 |
4,173,660 |
103,347 |
|
31/12/2010 |
8,125,395 |
0 |
1,646,480 |
25,930 |
|
Payment
expectations |
|
|
|
|
Past
payments |
|
Payment
expectation days |
136.24 |
|
Industry
average payment |
164.15 |
Industry
average day sales |
119.90 |
|
expectation
days |
|
outstanding |
|
|
Day
sales outstanding |
141.65 |
||
|
Court
data summary |
|||
|
BANKRUPTCY
DETAILS |
|||
|
Court
action type |
no |
||
|
PROTESTED
BILLS |
|||
|
Bill
amount |
- |
||
|
NSSO
DETAILS |
|||
|
Date of
summons |
25/03/2013 |
||
|
Business
number |
448377352 |
Company
name |
PINALDIAM
BVBA |
|
Fax
number |
032337605 |
Date
founded |
07/10/1992 |
|
Company
status |
active |
Company
type |
Private
Limited Company (BL/LX) |
|
Currency |
Euro (€) |
Date of
latest accounts |
31/12/2012 |
|
Activity
code |
46761 |
liable
for VAT |
yes |
|
Activity
description |
Wholesaler of diamonds and other
precious stones |
VAT
Number |
BE.0448.377.352 |
|
Belgian Bullettin
of Acts Publications |
moniteur belge |
|
|
|
Social
Balance Sheet |
Total |
|
During
the reporting year ended 31-12-2012 |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
1 |
|
Total Fte Employees |
1 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
940 |
|
Total |
940 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
20,671 |
|
Total |
20,671 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
0 |
|
Actual
working hours |
500 |
|
Personnel
Charges |
10,332 |
|
Benefits
In Addition To Wages |
- |
|
Type of
Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited
Duration Contracts |
- |
1 |
1 |
|
Limited
Duration Contracts |
- |
- |
- |
|
Contracts
For Specific Work |
- |
- |
- |
|
Contracts
Regarding Substitution |
- |
- |
- |
|
Gender
and Education Level |
|
||
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy education |
- |
1 |
1 |
|
Higher education
(non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy education |
- |
- |
- |
|
Higher
education (non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
|
|||
|
Working
Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
- |
1 |
1 |
|
Blue
collar worker |
- |
- |
- |
|
Other |
- |
- |
- |
|
|
|||
|
Temporary
personnel |
Total |
||
|
Average
number of temporary staff |
- |
||
|
Actual
working hours |
- |
||
|
Cost of
temporary staff |
- |
||
|
|
|||
|
New
staff and leavers |
Full-Time |
Part-Time |
Total Fte |
|
New
Starters |
- |
- |
- |
|
Leavers |
- |
- |
- |
Personnel
(NSSO classification)
|
Code |
- |
|
Description |
FROM 1
TO 4 EMPLOYEES |
|
Joint
Industrial Committee (JIC) |
|
|
JIC Code |
218 |
|
Description |
Additional
national joint committee for the employees |
Comparison Mode
·
Average Median Export
accounts to CSV File
Profit & loss
|
Annual accounts |
31-12-2012 |
|
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
22,353,032 |
27.84 |
30,977,118 |
119 |
14,121,408 |
46,537,630 |
51.97 |
|
Total
operating expenses |
22,220,262 |
27.94 |
30,837,616 |
119 |
14,068,832 |
46,145,645 |
51.85 |
|
Operating
result |
132,770 |
-4.83 |
139,502 |
165 |
52,576 |
147,590 |
10.04 |
|
Total
financial income |
1,410 |
151 |
560 |
10.45 |
507 |
97,743 |
98.56 |
|
Total
financial expenses |
21,053 |
25.26 |
28,168 |
4.09 |
27,061 |
204,361 |
89.70 |
|
Results
on ordinary operations before taxation |
113,126 |
1.10 |
111,895 |
329 |
26,023 |
32,848 |
244 |
|
Taxation |
8,408 |
12.86 |
9,649 |
81.58 |
5,314 |
20,918 |
59.80 |
|
Results
on ordinary operations after taxation |
104,718 |
2.42 |
102,246 |
393 |
20,709 |
18,016 |
481 |
|
Extraordinary
items |
0 |
- |
0 |
- |
0 |
-4,395 |
0 |
|
Other
appropriations |
0 |
- |
0 |
- |
0 |
- |
- |
|
Net
result |
104,718 |
2.42 |
102,246 |
393 |
20,709 |
13,640 |
667 |
|
OTHER
INFORMATION |
|||||||
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
Director
remuneration |
35,624 |
-5.21 |
37,583 |
-0.17 |
37,648 |
114,302 |
68.83 |
|
Employee
costs |
20,671 |
96.18 |
10,537 |
6698 |
155 |
125,948 |
83.59 |
|
Wages
and salary |
18,693 |
110 |
8,868 |
- |
- |
105,678 |
82.31 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
Social
security contributions |
1,986 |
25.78 |
1,579 |
- |
- |
26,585 |
92.53 |
|
Other
employee costs |
-8 |
-108 |
90 |
41.94 |
155 |
4,360 |
-100 |
|
Amortization
and depreciation |
2,196 |
99 |
1,101 |
78.91 |
5,221 |
17,895 |
87.73 |
balance sheet
|
Annual accounts |
31-12-2012 |
% |
31-122011 |
% |
31-122010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
1,553 |
-100 |
|
Tangible
fixed assets |
8,723 |
156 |
3,401 |
255 |
956 |
185,189 |
95.29 |
|
Land
& building |
- |
- |
- |
- |
- |
362,988 |
- |
|
Plant
& machinery |
3,393 |
- |
- |
- |
- |
22,664 |
85.03 |
|
Furniture
& Vehicles |
4,942 |
45.31 |
3,401 |
255 |
956 |
17,327 5,364 |
71.48 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
142,153 32,369 |
- |
|
Other
tangible assets |
388 |
- |
0 |
- |
0 |
7,634 |
94.92 |
|
Financial
fixed assets |
6,316 |
-1.94 |
6,441 |
3.27 |
6,237 |
307,703 |
97.95 |
|
Total
fixed assets |
15,040 |
52.81 |
9,842 |
36.81 |
7,194 |
396,856 |
96.21 |
|
Inventories |
4,504,182 |
-4.92 |
4,737,221 |
80.84 |
2,619,600 |
3,093,934 |
45.58 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
Work in
progress |
0 |
- |
0 |
- |
0 |
2,399 |
-100 |
|
Finished
goods |
4,504,182 |
-4.92 |
4,737,221 |
80.84 |
2,619,600 |
1,982,203 |
127 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
571,885 |
-100 |
|
Trade
debtors |
8,675,117 |
85.90 |
4,666,521 |
13.39 |
5,387,837 |
4,167,122 |
108 |
|
Cash |
201,066 |
157 |
78,166 |
26.65 |
106,559 |
226,208 |
11.11 |
|
other
amounts receivable |
2,392 |
40.39 |
4,013 |
-4.57 |
4,205 |
185,906 |
98.71 |
|
Miscellaneous
current assets |
146 |
89.57 |
1,400 |
- |
0 |
18,028 |
-99 |
|
Total
current assets |
13,382,903 |
41.06 |
9,487,321 |
16.86 |
8,118,201 |
7,215,183 |
85.48 |
|
Total
Assets |
13,397,943 |
41.07 |
9,497,163 |
16.88 |
8,125,395 |
7,579,247 1,446,080 |
76.77 |
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
Trade
creditors |
8,293,778 |
94.71 |
4,259,627 |
36.91 |
3,111,356 |
3,040,360 |
172 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
1,201 |
97.86 |
56,238 |
10.41 |
62,773 |
4,261,350 189,666 |
-99 |
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
110,204 15,373 |
- |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
31,764 |
58.02 |
20,101 |
146 |
8,144 |
9,709 - |
-6.46 |
|
Miscellaneous
current liabilities |
683,051 |
13.86 |
792,991 |
75.28 |
3,207,268 |
129 |
- - |
|
Total current
liabilities |
9,009,794 |
75.67 |
5,128,957 |
19.73 |
6,389,541 |
5,342,128 |
68.66 |
|
LONG
TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other
long term loans |
- |
- |
- |
- |
- |
- |
- - |
|
Deffered taxes |
- |
- |
- |
- |
- |
37,626 26,358 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,184 0 |
-100 |
|
Other
long term liabilities |
0 |
0 |
-1 |
0 |
-1 |
128,672 |
-100 |
|
Total
long term debts |
0 |
0 |
-1 |
0 |
-1 |
559,214 |
-100 |
|
SHAREHOLDERS
EQUITY |
|||||||
|
Issued
share capital |
4,092,660 |
-1.94 |
4,173,660 |
153 |
1,646,480 |
943,974 |
333 |
|
Share
premium account |
- |
- |
- |
- |
- |
109,362 |
- |
|
Reserves |
295,489 |
51.89 |
194,547 |
117 |
89,375 |
690,619 |
57.21 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
Total
shareholders equity |
4,388,149 |
0.46 |
4,368,207 |
151 |
1,735,855 |
1,664,274 |
163 |
|
Working
capital |
4,373,109 |
0.34 |
4,358,364 |
152 |
1,728,660 |
1,873,055 |
133 |
|
Cashflow |
106,914 |
3.45 |
103,347 |
298 |
25,930 |
28,425 |
276 |
|
Net
worth |
4,388,149 |
0.46 |
4,368,207 |
151 |
1,735,855 |
1,661,040 |
164 |
ratio analysis
|
Annual accounts |
31-12-2012 |
Change (%) |
31-12-2011 |
Change (%) |
31-12-2010 |
Industry average 2012 |
% |
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.51 |
41.67 |
0.36 |
100 |
0.18 |
-25,00 |
2.04 |
|
Return
on capital employed |
2.58 |
0.78 |
2.56 |
70.67 |
1.50 |
29,00 |
-91.10 |
|
Return
on total assets employed |
0.84 |
-28.81 |
1.18 |
268 |
0.32 |
-201,00 |
0.42 |
|
Return
on net assets employed |
2.58 |
0.78 |
2.56 |
70.67 |
1.50 |
19,00 |
-86.42 |
|
Sales /
net working capital |
5.11 |
-28.13 |
7.11 |
-12.97 |
8.17 |
45,00 |
-99 |
|
Stock
turnover ratio |
20.15 |
31.79 |
15.29 |
-17.57 |
18.55 |
111,00 |
-81.85 |
|
Debtor
days |
141.65 |
157 |
54.99 |
-60.51 |
139.26 |
133,00 |
6.50 |
|
Creditor
days |
136.24 |
170 |
50.42 |
-37.54 |
80.72 |
122,00 |
11.67 |
|
SHORT
TERM STABILITY |
|||||||
|
Current
ratio |
1.49 |
-19.46 |
1.85 |
45.67 |
1.27 |
7,00 |
-83.44 |
|
Liquidity
ratio / acid ratio |
0.99 |
6.45 |
0.93 |
8.14 |
0.86 |
4,00 |
-75.25 |
|
Current
debt ratio |
2.05 |
75.21 |
1.17 |
-68.21 |
3.68 |
9,00 |
-77.22 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG
TERM STABILITY |
|||||||
|
Gearing |
0.03 |
-97.67 |
1.29 |
-64.36 |
3.62 |
360,00 |
-99 |
|
Equity
in percentage |
32.75 |
-28.79 |
45.99 |
115 |
21.36 |
-3.211,00 |
1.02 |
|
Total debt
ratio |
2.05 |
75.21 |
1.17 |
-68.21 |
3.68 |
10,00 |
-79.50 |
|
Payment
expectations |
|
|
Payment
expectation days |
136.24 |
|
Day
sales outstanding |
141.65 |
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesaler
of diamonds and other precious stones |
|
Industry average payment
expectation days |
164.15 |
|
Industry average day sales
outstanding |
119.90 |
|
Industry quartile analysis |
|
|
Payment expectations |
|
|
Company
result |
136.24 |
|
Lower |
134.34 |
|
Median |
84.60 |
|
Upper |
45.29 |
|
Day
sales outstanding |
|
|
Company
result |
141.65 |
|
Lower |
112.48 |
|
Median |
58.56 |
|
Upper |
28.09 |
|
NSSO
details |
|
|
Business
number |
448377352 |
Bankruptcy
details
There is
no bankruptcy data against this company
Legal
events
|
Legal
event type |
Social
Security Summons |
||
|
Legal
event sub type |
|
||
|
Event
date |
25/03/2013 |
Secondary
event date |
|
|
Court
number |
|
Registry
body identfier |
|
|
Court
type |
Employment
Court |
Court
name |
Antwerpen |
|
3rd
party name |
Rijksdienst voor Sociale
Zekerheid |
3rd
party type |
Summoning
Party |
|
3rd
party address |
|
||
Current
director details
|
Name |
PRAVINBHAI
KHENI AJAY |
|
Position |
Principal
Manager |
|
Start
Date |
07/03/2002 |
|
Street |
38
QUINTEN MATSIJSLEI ANTWERPEN |
|
Post
code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
AJAY
KHENI |
|
Position |
Principal
Manager |
|
Start
Date |
09/11/2012 |
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.59.95 |
|
UK Pound |
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.