Report Date :

11.08.2014

IDENTIFICATION DETAILS

Name :	CONCEPT DIAMONDS BVBA

Registered Office :	Hoveniersstraat 30 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2013

Date of Incorporation :	31.03.2010

Com. Reg. No.:	825193351

Legal Form :	Private Limited Company

LINE OF BUSINESS :	WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES

No. of Employees	02

RATING & COMMENTS

MIRA’s Rating :

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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Belgium

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 825193351

Company name CONCEPT DIAMONDS BVBA

Address HOVENIERSSTRAAT 30

2018 ANTWERPEN

Number of staff 2

Date of establishment 31/03/2010

Telephone number 037070740

Fax number 034750340

Commentary

The business was established over 4 years ago.

The business has 2 employees.

The business has been at the address for over 4 years.

Operating Result in the latest trading period decreased 28% on the previous trading period.

Net Worth increased by 29% during the latest trading period.

A 25% growth in Total Assets occurred during the latest trading period.

The business saw an increase in their Cash Balance of 140% during the latest trading period.

Accounts

Date of latest accounts	Turnover	Profit Before Tax	Net worth	Working capital
31/12/2013	21,861,819	36,869	109,661	78,676
31/12/2012	18,843,603	45,021	84,554	48,957
31/12/2011	19,610,831	40,589	56,336	13,324

Accounts

Date of latest accounts	Balance Total	Number of Employees	Capital	Cashflow
31/12/2013	6,108,376	2	18,600	34,723
31/12/2012	4,864,061	2	18,600	37,065
31/12/2011	7,143,786	2	18,600	30,669

Social Balance Sheet Details

Social Balance Sheet Total

During the reporting year

Ended 31-12-2013

Full-time Employees 2

Part-time Employees 1

Total Fte Employees 2

Number of hours worked

Full-time Employees 3,671

Part-time Employees 611

Total 4,282

Personnel Charges

Full-time Employees 88,534

Part-time Employees 14,736

Total 103,270

Benefits In Addition To Wages -

During the previous reporting year

Average number employees in Fte 2

Actual working hours 3,702

Personnel Charges 79,667

Benefits In Addition To Wages –

Profit & loss

Annual accounts	31-12-2013%		31-12-2012		31-12-2011	Industry average 2013	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Turnover	21,861,819	16.02	18,843,603	-3.91	19,610,831	46,549,701	-49.56
Total operating expenses	21,823,445	16.14	18,790,.45	-3.95	19,563,365	46,085,236	-49.18
Operating result	38,374	-28.35	53,558	12.83	47,466	146,758	-73.85
Total financial income	5,648	7692	72	-12.67	83	74,014	-92.37
Total financial expenses	7,153	-16.92	8,610	23.69	6,961	161,389	-95.57
Results on ordinary operations before taxation	36,869	-18.11	45,021	10.92	40,589	52,344	-29.56
Taxation	11,761	-30.00	16,803	8.73	15,453	19,907	-40.92

Results on ordinary operations after taxation	25,108	-11.02 28,218	12.26	25,136	39,246	-36.02
Extraordinary items	0	0	-	0	1,853	-100
Other appropriations	0.00	- 0.00	0.00	-1	-	-
Net result	25,108	-11.02 28,218	12.27	25,135	41,120	-38.94
	other information
Gross Operating Margin	-	--	-	-	43,703	-
Dividends	-	--	-	-	216,234	-
Director remuneration	-	--	-	-	153,348	-
Employee costs	103,270	29.63 79,667	27.85	62,312	188,344	-45.17
Wages and salary	84,293	27.41 66,159	29.15	51,225	162,950	-48.27
Employee pension costs	-	--	-	-	1,380	-
Social security contributions	14,671	75.82 8,344	14.73	7,273	41,560	-64.70
Other employee costs	4,306	-16.60 5,163	35.37	3,814	4,234	1.70
Amortization and depreciation	9,616	8.68 8,847	59.87	5,534	20,665	-53.47

balance sheet

Annual accounts	31-12-2013 %		31-12-2012 %		31-12-2011	Industry average 2013	%
Weeks	52		52		52
Currency	EUR		EUR		EUR
Intangible fixed assets	0	-	0	-	0	1,903	-100
Tangible fixed assets	30,785	-13.52	35,596	-17.24	43,012	196,809	-84.36
Land & building	-	-	-	-	-	378,904	-
Plant & machinery	16,338	1.62	16,077	-8.55	17,581	36,404	-55.12
Furniture & Vehicles	13,607	-30.29	19,519	-23.25	25,431	16,357 4,471	-16.81
Leasing & Other Similar Rights	-	-	-	-	-	34,673 19,705	-
Other tangible assets	840	-	0	-	0	15,314	-94.51
Financial fixed assets	200	-	-	-	-	47,201	-99
Total fixed assets	30,985	-12.95	35,596	-17.24	43,012	215,595	-85.63
Inventories	1,226,140	-41.25	2,086,945	-53.13	4,452,244	2,801,890	-56.24
Raw materials & consumables	-	-	-	-	-	113,995	-
Work in progress	0	-	0	-	0	2,566	-100
Finished goods	1,226,140	-41.25	2,086,945	-53.13	4,452,244	1,817,454	-32.54
Other stocks	0	-	0	-	0	504,385	-100
Trade debtors	4,027,434	67.53	2,403,961	25.41	1,916,807	4,352,203	-7.46
Cash	792,841	140	330,333	-54.46	725,332	1,041,698,851	-99
other amounts receivable	25,308	455	4,558	34.69	3,384	171,163	-85.21
Miscellaneous current assets	5,668	112	2,667	-11.29	3,007	-1,026,260,937	0.00
Total current assets	6,077,391	25.87	4,828,464	-32.00	7,100,774	7,078,680	-14.15
Total Assets	6,108,376	25.58	4,864,061	-31.91	7,143,786	7,266,473 1,199,483	-15.94

CURRENT LIABILITIE

Trade creditors	5,971,799	25.87 4,744,483	-32.78 7,058,146		2.964.012	101
Short term group loans	-	--	-	-	-	-
Financial debts	-	--	-	-	3,942,934 140,286	-
Current portion of long term debt	-	--	-	-	47,460 12,726	-
Amounts Payable for Taxes, Remuneration & Social Security	26,557	-23.18 34,571	21.34	28,492	7,144	-24.55
Miscellaneous current liabilities	359	-20.75 453	-44.22 812		-99	- -
Total current liabilities	5,998,715	25.51 4,779,507	-32.56	7,087,450	5,124,500	17.06
	Long term debts and liabilities
Long term group loans	-	--	-	-	-	- -
Other long term loans	-	--	-	-	-	- -
Deffered taxes	-	--	-	-	47,059 41,554	-
Provisions for Liabilities & Charges	0	-0	-	0	6,588 0	-100
Other long term liabilities	0	-0	-	0	100,362	-100
Total long term debts	0	-0	-	0	666,932	-100
	shareholders equity
Issued share capital	18,600	0 18,600	0	18,600	952,266	-98.05
Share premium account	-	--	-	-	146,653	-
Reserves	91,061	38.07 65,954	74.78	37,736	577,425	-84.23
Revaluation reserve	-	--	-	-	1,212,191	-
Total shareholders equity	109,661	29.69 84,554	50.09	56,336	1,563,918	-92.99
Working capital	78,676	60.70 48,957	267	13,324	2,043,058	-96.15
Cashflow	34,723	-6.32 37,065	20.86	30,669	58,366	-40.51
Net worth	109,661	29.69 84,554	50.09	56,336	1,562,015	-92.98

ratio analysis

TRADING PERFORMANCE

Annual accounts

31-12-2013 %

31-12-2012 %

31-12-2011

Industry average 2013

TRADING PERFORMANCE

Profit Before Tax	0.17	-29.17	0.24	14.29	0.21	2,00	-91.50
Return on capital employed	33.62	-36.86	53.25	-26.09	72.05	6,00	460
Return on total assets employed	0.60	-35.48	0.93	63.16	0.57	-3,00	20.00
Return on net assets employed	33.62	-36.86	53.25	-26.09	72.05	0,00	-
Sales / net working capital	277.87	-27.81	384.90	-73.85	1471.84	260,00	-99
Stock turnover ratio	5.61	-49.37	11.08	-51.19	22.70	54,00	-89.61
Debtor days	67.24	44.42	46.56	30.49	35.68	192,00	-64.98
Creditor days	99.88	8.38	92.16	-30.02	131.69	137,00	-27.09
		short term stability
Current ratio	1.01	0	1.01	1.00	1	4,00	-94.95
Liquidity ratio / acid ratio	0.81	42.11	0.57	54.05	0.37	3,00	-73.00
Current debt ratio	54.70	-3.24	56.53	-55.07	125.81	20,00	173
Liquidity ratio reprocessed	-	-	-	-	-	-	-
		long term stability
Gearing	-	-	-	-	-	298,00	-
Equity in percentage	1.80	3.45	1.74	120	0.79	-128,00	1.41
Total debt ratio	54.70	-3.24	56.53	-55.07	125.81	21,00	160

Industry comparison

Activity code 46761

Activity description Wholesale of diamonds and other precious stones

Payment expectations

Payment expectation days 99.88

Day sales outstanding 67.24

Industry comparison

Activity code 46761

Activity description Wholesale of diamonds and other precious stones

Industry quartile analysis

Payment expectations

Company result 99.88

Lower 127.33

Median 76.80

Upper 45.69

Day sales outstanding

Company result 67.24

Lower 106.72

Median 55.71

Upper 26.51

Group Structure

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

Court Data

There Is No Data For This Company

Director details

Current director details

Name SHRIPAL BHANDARI

Position Principal Manager

Start Date 01/07/2010

Street 22 GROENENBORGERLAAN ANTWERPEN

Post code 2610

Country Belgium

Name MANISH GOLCHHA

Position Principal Manager

Start Date 21/04/2010

Street 25 SNEEUWBESLAAN ANTWERPEN

Post code 2610

Country Belgium

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 :	SUB

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.

Company name and address

Commentary

Accounts

Accounts

Company information

Social Balance Sheet Details

Profit & loss

balance sheet

ratio analysis

Industry comparison

Payment expectations

Group Structure

Director details

Unit