|
Report Date : |
22.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIAMSTAR BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30, 2018, Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.10.1977 |
|
|
|
|
Com. Reg. No.: |
417512150 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
LINE OF BUSINESS : |
WHOLESALER
OF DIAMOND 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 : |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Belgium |
A1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 417512150
Company name DIAMSTAR BVBA
Address HOVENIERSSTRAAT 30
2018 ANTWERPEN
Number of staff 0
Date of establishment 01/10/1977
Telephone number 034751987
Fax number 032312512
The business was established over 36
years ago.
The business has 1 employee.
The business has been at the address
for over 18 years.
Operating Result in the latest trading
period decreased 148% on the previous trading period.
Pre-tax profits decreased by 403%
compared to the previous trading period.
ACCOUNTS
|
Date
of latest accounts |
Turnover |
Profit Before Tax |
Net worth |
Working capital |
|
31/12/2013 |
|
-70,726 |
2,403,535 |
2,311,692 |
|
31/12/2012 |
|
23,316 |
2,474,407 |
2,375,963 |
|
31/12/2011 |
|
55,102 |
2,464,397 |
2,529,156 |
ACCOUNTS
|
Date
of latest accounts |
Balance Total |
Number of Employees |
Capital |
Cash Flow |
|
31/12/2013 |
2,508,039 |
0 |
2,250,000 |
-63,670 |
|
31/12/2012 |
2,647,204 |
0 |
2,250,000 |
34,154 |
|
31/12/2011 |
2,813,609 |
0 |
2,250,000 |
57,803 |
|
Payment expectations |
|||
|
Past payments |
|
Payment expectation days |
-- |
|
Industry average payment
expectation days |
127.32 |
Industry average day sales
outstanding |
131.80 |
|
Day sales outstanding |
-- |
|
|
|
Business number |
417512150 |
Company name |
DIAMSTAR BVBA |
|
Fax number |
032312512 |
Date founded |
01/10/1977 |
|
Company status |
active |
Company type |
Private Limited Company |
|
|
|
|
(BL/LX) |
|
Currency |
Euro (€) |
Date of latest accounts |
31/12/2013 |
|
Activity code |
46761 |
Liable for VAT |
Yes |
|
Activity description |
Wholesale of diamonds and other precious stones |
VAT Number |
BE.0417.512.150 Check |
|
Belgian Bullettin of Acts
Publications |
moniteur beige |
|
|
|
Personnel (NSSO Classification) |
|
|
Code |
-- |
|
Description |
From 1
to 4 Employees |
|
|
|
|
Joint Industrial Committee (JIC) |
|
|
JIC Code
|
218 |
|
Description
Category |
Additional
national joint committee for the employees |
|
JIC Code |
324 |
|
Description
Category |
Joint
committee for the industry and the trade in diamant |
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 |
-- |
-- |
-- |
-- |
-- |
45,875,973 |
-- |
|
Total
operating expenses |
-- |
-- |
-- |
-- |
-- |
45,442,224 |
-- |
|
Operating
result |
-26,610 |
-148 |
54,409 |
208 |
17,624 |
140,449 |
-118 |
|
Total
financial income |
39,665 |
-27.23 |
54,506 |
-25.95 |
73,610 |
68,174 |
-41.82 |
|
Total
financial expenses |
83,781 |
-2.12 |
85,599 |
136 |
36,132 |
153,133 |
-45.29 |
|
Results
on ordinary operations before taxation |
-70,726 |
-403 |
23,316 |
-57.69 |
55,102 |
47,062 |
-250 |
|
Taxation |
146 |
3.95 |
-3,694 |
-173 |
5,000 |
19,707 |
-99 |
|
Results
on ordinary operations after taxation |
-70,872 |
-362 |
27,010 |
-46.09 |
50,102 |
32,506 |
-318 |
|
Extraordinary
items |
0 |
-- |
0 |
-- |
0 |
1,983 |
-100 |
|
Other
appropriations |
0.00 |
-- |
0.00 |
-- |
0 |
-- |
-- |
|
Net
result |
-70,872 |
-362 |
27,010 |
-46.09 |
50,102 |
34,619 |
-304 |
|
OTHER
INFORMATION |
|
|
|
|
|
|
|
|
Gross
Operating Margin |
-15,734 |
-123 |
66,083 |
118 |
30,289 |
42,804 |
-136 |
|
Dividends |
-- |
-- |
-- |
-- |
- |
216,234 |
-- |
|
Director
remuneration |
-- |
-- |
-- |
-- |
-- |
143,756 |
-- |
|
Employee
costs |
-- |
-- |
-- |
-- |
653 |
159,928 |
-- |
|
Wages
and salary |
-- |
-- |
-- |
-- |
3,730 |
140,390 |
-- |
|
Employee
pension costs |
-- |
-- |
-- |
-- |
-- |
1,459 |
-- |
|
Social
security contributions |
-- |
-- |
-- |
-- |
619 |
35,948 |
-- |
|
Other
employee costs |
0 |
-- |
0 |
0 |
-3,697 |
3,479 |
-100 |
|
Amortization
and depreciation |
7,202 |
081 |
7,145 |
-7.23 |
7,701 |
18,914 |
-61.92 |
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 |
1,501 |
-100 |
|
Tangible
fixed assets |
91,843 |
-6.70 |
98,444 |
-6.46 |
105,242, |
195,330 |
-52.98 |
|
Land
& building |
91,191 |
-6.84 |
97,886 |
-6.40 |
104,580 |
374,597 |
-75.66 |
|
Plant
& machinery |
652 |
16.79 |
558 |
-15.67 |
662 |
32,598 |
-98.00 |
|
Furniture
& Vehicles |
-- |
-- |
-- |
-- |
-- |
15,542 4,251 |
-- |
|
Leasing
& Other Similar Rights |
-- |
-- |
-- |
-- |
-- |
42,007 20,215 |
-- |
|
Other
tangible assets |
0 |
-- |
0 |
-- |
0 |
11,927 |
-100 |
|
Financial
fixed assets |
-- |
-- |
-- |
-- |
-- |
39,219 |
-- |
|
Total
fixed assets |
91,843 |
-6.70 |
98,444 |
-6.46 |
105,242 |
209,056 |
-56.07 |
|
Inventories |
1,153,691 |
-1.17 |
1,167,372 |
11.55 |
1,046,547 |
2,542,976 |
-54.63 |
|
Raw
materials & consumables |
-- |
-- |
-- |
-- |
-- |
113,995 |
-- |
|
Work
in progress |
0 |
-- |
0 |
-- |
0 |
1,997 |
-100 |
|
Finished
goods |
0 |
-- |
0 |
-- |
0 |
1,630,956 |
-100 |
|
Other
stocks |
1,153,691 |
-1.17 |
1,167,372 |
11.55 |
1,046,547 |
466,713 |
147 |
|
Trade
debtors |
56,531 |
116 |
26,071 |
-92.20 |
334,288 |
4,001,752 |
-98.59 |
|
Cash |
1,199,869 |
-11.23 |
1,351,723 |
5.51 |
1,281,189 |
809,805,623 |
-99 |
|
other
amounts receivable |
5,707 |
187 |
1,983 |
-95.62 |
45,313, |
149,987 |
-96.20 |
|
Miscellaneous
current assets |
399 |
-75.25 |
1,611 |
56.42 |
1,030 |
-798,847,465 |
0.00 |
|
Total
current assets |
2,416,196 |
-5.20 |
2,548,760 |
-5.89 |
2,708,367 |
6,473,719 |
-62.68 |
|
Total
Assets |
2,508,039 |
-5.26 |
2,647,204 |
-5.91 |
2,813,609 |
6,666,100 1,210,724 |
-62.38 |
CURRENT LIABILITIES
|
Trade
creditors |
3,032 |
55.36 |
1,952 |
-98.58 |
137,024 |
2,674,214 |
-99 |
|
Short
term group loans |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Financial
debts |
11,708 |
-80.70 |
60,669 |
-- |
-- |
3,683,395 113,790 |
-99 |
|
Current
portion of long term debt |
-- |
-- |
-- |
-- |
-- |
82,506 13,806 |
-- |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
13 |
-98.52 |
882 |
-82.99 |
5,187 |
8,027 |
-99 |
|
Miscellaneous
current liabilities |
89,751 |
-17.88 |
109,294 |
195 |
37,000 |
-72.22 |
-- |
|
Total
current liabilities |
104,504 |
-39.52 |
172,797 |
-3.58 |
179,211 |
4,648,018 |
-97.75 |
|
LONG TERM DEBTS
AND LIABILITIES |
|||||||
|
Long
term group loans |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Other
long term loans |
-- |
-- |
-- |
-- |
170,000 |
-- |
-- |
|
Deffered
taxes |
-- |
-- |
-- |
-- |
-- |
47,059 41,554 |
-- |
|
Provisions
for Liabilities & Charges |
0 |
-- |
0 |
-- |
0 |
5,925 0 |
-100 |
|
Other
long term liabilities |
0 |
-- |
|
|
|
|
-100 |
|
Total
long term debts |
0 |
-- |
0 |
-100 |
170,001 |
620,362 |
-100 |
|
SHAREHOLDERS
EQUITY |
|||||||
|
Issued
share capital |
2,250,000 |
0 |
2,250,000 |
0 |
2,250,000 |
841,532 |
167 |
|
Share
premium account |
-- |
-- |
-- |
-- |
-- |
146,653 |
-- |
|
Reserves |
153,535 |
-31.58 |
224,407 |
4.67 |
214,397 |
513,002 |
-70.07 |
|
Revaluation
reserve |
-- |
-- |
-- |
-- |
-- |
1,100,228 |
-- |
|
Total
shareholders equity |
2,403,535 |
-2.86 |
2,474,407 |
0.41 |
2,464,397 |
1,385,095 |
73.53 |
|
Working
capital |
2,311,692 |
-2.71 |
2,375,963 |
-6.06 |
2,529,156 |
1,825,701 |
26.62 |
|
Cash
flow |
-63.670 |
-286 |
34,154 |
-40.91 |
57,803 |
50,309 |
-226 |
|
Net
worth |
2,403,535 |
-2.86 |
2,474,407 |
0.41 |
2,464,397 |
1,383,594 |
73.72 |
RATIO ANALYSIS
|
Annual accounts |
31-12-2013 change (%) |
31-12-2012 change (%) |
31-12-2011 |
average
2013 |
% |
||
|
|
|
Trading
Performance |
|
|
|||
|
Profit Before Tax |
- |
- |
- |
- |
- |
-4,00 |
- |
|
Return on capital employed |
-2.94 |
-412 |
0.94 |
-55.02 |
2.09 |
8,00 |
-136 |
|
Return on total
assets employed |
-2.82 |
-420 |
0.88 |
-55.10 |
1.96 |
-2,00 |
-41.00 |
|
Return on net assets employed |
-2.94 |
-412 |
0.94 |
-58.04 |
2.24 |
4,00 |
-173 |
|
Sales / net working capital |
- |
- |
- |
- |
- |
220,00 |
- |
|
Stock turnover ratio |
- |
- |
- |
- |
- |
50,00 |
- |
|
Short Term Stability |
|||||||
|
Debtor
days |
- |
- |
- |
- |
- |
131,80
|
- |
|
Creditor
days |
- |
- |
- |
- |
- |
127,32 |
- |
|
Current ratio |
23.12 |
56.75 |
14.75 |
-2.38 |
15.11 |
4,00 |
36.00 |
|
Liquidity ratio / acid ratio |
12.08 |
51.19 |
7.99 |
-13.81 |
9.27 |
3,00 |
302 |
|
Current debt ratio |
0.04 |
-42.86 |
0.07 |
0 |
0.07 |
17,00 |
-99 |
|
Liquidity ratio reprocessed |
: |
- |
- |
- |
- |
- |
- |
|
|
|
long Term
Stability |
|
|
|||
|
Gearing |
0.49 |
-80.0 |
2.45 |
-64.49 |
6.90 |
262,00 |
-99 |
|
Equity in percentage |
95.83 |
2.52 |
93.47 |
6.71 |
87.59 |
-134,00 |
71.51 |
|
Total debt ratio |
0.04 |
-42.86 |
0.07 |
-50.0 |
0.14 |
18,00 |
-99 |
Activity code 46761
Activity description Wholesale
of diamonds and other precious stones
PAYMENT EXPECTATIONS
Company result -
Lower 127.58
Median 76.58
Upper 45.69
DAY SALES OUTSTANDING
Company
result -
Lower 105.23
Median
55.21
Upper 25.72
GROUP STRUCTURE
No group structure for this company.
MINORITY SHAREHOLDERS
No minority shareholders found
MINORITY INTERESTS
No minority interests found
There is no data for this company
CURRENT DIRECTOR DETAILS
Name
SURESHKUMAR JAYANTILAL
JAVERI
Position
Principal Manager
Start
Date 12/07/2011
Street
45 VAN EYCKLEI ANTWERPEN
Post
code 2018
Country
Belgium
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.60.77 |
|
|
1 |
Rs.100.72 |
|
Euro |
1 |
Rs.80.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
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.