MIRA INFORM REPORT

 

 

Report Date :

09.08.2014

 

IDENTIFICATION DETAILS

 

Name :

EKTA DIAMONDS BVBA

 

 

Registered Office :

Hoveniersstraat 2 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

09.01.1990

 

 

Com. Reg. No.:

437643214

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES

 

 

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

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

Company name and address

 

Business number

437643214

Company name

EKTA DIAMONDS BVBA

Address

HOVENIERSSTRAAT 2

 

2018 ANTWERPEN

Number of staff

0

Date of establishment

09/01/1990

Telephone number

0491280531

Fax number

 

 

 

Commentary

 

The business was established over 25 years ago.

 

The business has 1 employees.

 

The business has been at the address for over 18 years.

 

Operating Result in the latest trading period decreased 26% on the previous trading period.

 

A 54% decline in Total Assets occurred during the latest trading period.

*

Pre-tax profits decreased by 53% compared to the previous trading period.

 

 

 

Accounts

 

DATE OF LATEST

ACCOUNTS                  PROFIT BEFORE TAX               NET WORTH                 WORKING CAPITAL

31/12/2012                    17,501                                      95,993                          863,920

31/12/2011                    37,585                                     93,571                          859,702

31/12/2010                    32,018                                      77,228                          861,927

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

BALANCE TOTAL

NUMBER OF EMPLOYEES CAPITAL

CASHFLOW

 

31/12/2012

1,251,869

0 18,600

28,477

 

31/12/2011

2,743,987

0 18,600

39,630

 

31/12/2010

1,916,565

0 18,600

29,338

 

 

 

Payment expectations

 

Past payments

 

Payment expectation days

-

 

Industry average payment expectation days

129.58

Industry average day sales outstanding

131.83

 

 

 

Company information

 

Business number

437643214

Company name

EKTA DIAMONDS BVBA

Fax number

 

Date founded

09/01/1990

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

Wholesale of diamonds

and other precious stones

VAT Number

BE.0437.643.214 Check

 

 

 

VAT number

Belgian Bullettin of Acts

moniteur belge

 

 

 

 

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

-

-

-

-

-

40,466,975

-

Total operating expenses

-

-

-

-

-

40,150,898

-

Operating result

44,328

-26.67

60,447

11.81

54,063

128,911

-65.61

Total financial income

2,471

-

-

-

0

92,707

-97.33

Total financial expenses

29,298

28.15

22,862

3.71

22,045

183,969

-84.07

Results on ordinary operations before taxation

17,501

-53.44

37,585

17.39

32,018

28,586

-38.78

Taxation

719

-88.48

6,243

193

2,128

21,094

-96.59

Results on ordinary operations after taxation

16,782

-46.46

31,342

4.86

29,890

13,883

20.88

Extraordinary items

639

-

0

0

-764

-3,863

16.54

Other appropriations

0

-100

1

-

0.00

-

-

Net result

17,421

-44.42

31,343

7.61

29,126

10,042

73.48

Gross Operating Margin

57,124

-21.68

72,940

30.64

55,831

50,608

12.88

Dividends

-

-

-

-

-

168,887

-

Director remuneration

-

-

-

-

-

107,479

-

Employee costs

-

-

-

-

-

138,572

-

Wages and salary

-

-

-

-

-

119,212

-

Employee pension costs

-

-

-

-

-

12,737

-

Social security contributions

-

-

-

-

-

29,410

-

Other employee costs

0

-

0

-

0

4,884

-100

Amortization and depreciation

11,056

33.41

8,287

3805

212

18,101

-38.92

 

 

balance sheet

 

Annual accounts

31-12-2012

%

31-12-2011

%

31-12-2010

Industry average 2012

%

Weeks

52

 

52

 

52

 

 

Currency

EUR

 

EUR

 

EUR

 

 

Intangible fixed assets

0

-

0

-

0

1,200

-100

Tangible fixed assets

36,887

-20.69

46,507

-

-

188,841

-80.47

Land & building

-

-

-

-

-

373,255

-

Plant & machinery

-

-

-

-

-

25,390

-

Furniture & Vehicles

36,887

-20.69

46,507

-

-

16,987 5,029

117

Leasing & Other Similar Rights

-

-

-

-

-

139,170 30,812

-

Other tangible assets

0

-

0

-

0

11,727

-100

Financial fixed assets

2,392

0

2,392

-0.01

2,392

234,445

-98.98

Total fixed assets

39,279

-19.67

48,899

1944

2,392

343,382

-88.56

Inventories

755,095

14.94

656,962

-30.35

943,212

2,731,126

-72.35

Raw materials & consumables

-

-

-

-

-

7,018,491

-

Work in progress

0

-

0

-

0

2,516

-100

Finished goods

0

-

0

-

0

1,760,119

-100

Other stocks

755,095

14.94

656,962

-30.35

943,212

456,438

65.43

Trade debtors

40,843

-97.56

1,670,967

169

619,801

3,678,029

-98.89

Cash

36,829

713

4,530

-54.54

9,964

207,551

-82.26

other amounts receivable

369,925

2.88

359,586

8.55

331,277

212,199

74.33

Miscellaneous current assets

9,898

225

3,043

-69.32

9,919

14,855

-33.37

Total current assets

1,212,590

-55.01

2,695,088

40.80

1,914,173

6,380,234

-80.99

Total Assets

1,251,869

-54.38

2,743,987

43.17

1,916,565

6,685,228 1,220,826

-81.27

 

 

CURRENT LIABILITIES

 

 

Trade creditors

250,512

-75.88

1,038,422

39.93

742,095

2,806,486

-91.07

Short term group loans                    -                 -          -                -          -                 - -

 

Financial debts

62,836

-91.65

752,946

158

291,273

3,606,102 148,844

-98.26

 

Current portion of long term debt

7,823

-1.91

7,975

195

2,702

90,440 14,128

-91.35

 

Amounts Payable for Taxes, Remuneration & Social Security

-

-

8,370

293

2,128

8,657 - -

 

 

Miscellaneous current liabilities

27,499

-0.63

27,673

96.98

14,049

-90.72

--

 

Total current liabilities

348,670

-81.00

1,835,386

74.43

1,052,246

4,741,262

-92.65

LONG TERM DEBTS AND LIABILITIES

 

Long term group loans

-

-

-

-

-

-

--

 

Other long term loans

807,206

-0.96

815,029

3.55

787,091

-22.03

--

 

Deffered taxes

-

-

-

-

-

38,865 26,358

-

 

Provisions for Liabilities & Charges

0

-

0

-

0

3,968 0

-100

 

Other long term liabilities

0

-100

1

-

0

92,092

-100

 

Total long term debts

807,206

-0.96

815,030

3.55

787,091

496,877

62.46

SHAREHOLDERS EQUITY

 

Issued share capital

18,600

0

18,600

0

18,600

872,974

-97.87

 

Share premium account

-

-

-

-

-

89,810

-

 

Reserves

77,393

3.23

74,971

27.87

58,628

542,502

-85.73

 

Revaluation reserve

-

-

-

-

-

927,466

-

 

Total shareholders equity

95,993

2.59

93,571

21.16

77,228

1,441,535

-93.34

 

Working capital

863,920

0.49

859,702

-0.26

861,927

1,638,972

-47.29

 

Cashflow

28,477

-28.14

39,630

35.08

29,338

24,750

15.06

 

Net worth

95,993

2.59

93,571

21.16

77,228

1,438,808

-93.33

 

 

ratio analysis

 

 

Annual accounts

31-12-2012

change(%)

31-12-2011

change(%)

31-12-2010

Industry average 2012

 

TRADING PERFORMANCE

 

 

Profit Before Tax

-

-

-

-

-

-10,00

-

 

Return on capital employed

1.94

-53.14

4.14

11.89

3.70

39,00

-95.03

 

Return on total assets employed

1.40

2.19

1.37

-17.96

1.67

-292,00

0.48

 

Return on net assets employed

18.23

-54.62

40.17

-3. 11

41.46

26,00

-29.88

 

Sales / net working capital

-

-

-

-

-

64,00

-

 

Stock turnover ratio

-

-

-

-

-

88,00

-

 

Debtor days

-

-

-

-

-

147,00

-

 

Creditor days

-

-

-

-

-

192,00

-

SHORT TERM STABILITY

 

Current ratio

3.48

136

1.47

-19.23

1.82

6,00

-68.36

 

Liquidity ratio / acid ratio

1.31

18.02

1.11

20.65

0.92

4,00

-67.25

 

Current debt ratio

3.63

-81.49

19.61

43.87

13.63

11,00

-67.00

 

Liquidity ratio reprocessed

-

-

-

-

-

-

-

LONG TERM STABILITY

 

Gearing

914.51

-45.70

1684.23

20.32

1399.83

259,00

253

 

Equity in percentage

7.67

124

3.41

-15.38

4.03

-3.367,00

0.23

 

Total debt ratio

12.04

-57.50

28.33

18.93

23.82

11,00

9.45

 

 

Industry comparison

 

Activity code

46761

Activity description

Wholesale of diamonds and other precious stones

Industry average payment expectation days

129.58

Industry average day sales outstanding

131.83

 

 

Payment expectations

 

Company result -

Lower

127.33

Median

76.80

Upper

45.69

 

 

Day sales outstanding

 

Company result -

Lower

106.72

Median

55.71

Upper

26.51

 

 

Shareholder Details

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

 

Minority Interests

No minority interests found

 

 

NSSO details

 

Business number         437643214

 

Bankruptcy details

There is no bankruptcy data against this company

 

 

Bankruptcy Data

 

court data

there is no data for this company

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.56

UK Pound

1

Rs.103.50

Euro

1

Rs.82.41

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIS

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.