MIRA INFORM REPORT

 

 

Report Date :

30.08.2014

 

IDENTIFICATION DETAILS

 

Name :

SAHAJ DIAMOND BVBA

 

 

Registered Office :

Schupstraat 17, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

02.10.1995

 

 

Com. Reg. No.:

456153188

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesaler 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 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

 

 

Company summary

 

Business number                     456153188

Company name                       SAHAJ DIAMOND BVBA

Address                                    SCHUPSTRAAT 17

2018 ANTWERPEN

Number of staff                        0

Date of establishment 02/10/1995

Telephone number                  032322520

 

 

Commentary

 

The business was established over 18 years ago.

 

No employees are recorded for this business.

 

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

 

The credit rating for this business has increased from 64 to 68.

 

The credit limit for this business has increased from €88000 to €94000.

 

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

TURNOVER

PROFIT BEFORE TAX

NET WORTH

WORKING CAPITAL

31/12/2012

 

49,198

493,324

426,270

31/12/2011

 

52,728

490,219

422,444

31.12.2010

 

53,709

483,061

428,015

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

BALANCE TOTAL

NUMBER OF EMPLOYEES

CAPITAL

CASHFLOW

31/12/2012

2,420,854

0

18,592

53,716

31/12/2011

2,207,645

0

18,592

52,481

31/12/2010

2,015,238

0

18,592

56,137

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past payments                                                             Payment expectation days      -

expectation days                                                         Industry average day sales      120.21             

Industry average payment       168.35                          outstanding

Day sales outstanding -

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type

no

PROTESTED BILLS

Bill amount

-

NSSO DETAILS

Date of summons

-

 

 

Company information

 

Business number

456153188

Company name

SAHAJ DIAMOND BVBA

Fax number

 

Date founded

02/10/1995

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.0456.153.188

Belgian Bullettin of Acts Publications

moniteur belge

 

 

Contractor details

Check Article 30 Bis

Registered contractor number

-

 

 

Contractor description

-

Date struck off register

 

 

 

Social Balance Sheet Details

 

Social Balance Sheet

Total

During the reporting year ended 31-12-2012

 

Full-time Employees

-

Part-time Employees

-

Total Fte Employees

-

 

 

Number of hours worked

 

Full-time Employees

-

Part-time Employees

-

Total

-

 

 

Personnel Charges

 

Full-time Employees

-

Part-time Employees

-

Total

-

Benefits In Addition To Wages

-

 

 

During the previous reporting year

 

Average number employees in Fte

-

Actual working hours

-

Personnel Charges

-

Benefits In Addition To Wages

-

 

 

Type of Contract

Full-Time

Part-Time

Total Fte

Unlimited Duration Contracts

-

-

-

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

-

-

-

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

-

-

-

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

-

-

-

 

 

Total of formal continuing vocational training initiatives for workers paid by the employer

Male

Female

Number of employees

-

-

Number of training hours

-

-

Net costs for enterprise

-

-

Total of less formal and informal continuing vocational training initiatives for workers paid by the employer

Male

Female

Number of employees

-

-

Number of training hours

-

-

Net costs for enterprise

-

-

Total of initial training initiatives at the expense of the employer

Male

Female

Number of employees

-

-

Number of training hours

-

-

Net costs for enterprise

-

-

 

Personnel (NSSO classification)

 

Code

-

Description

-

 

Joint Industrial Committee (JIC)

 

 

Company accounts

 

Comparison mode                                                                                              Export accounts to CSV file

·         average             median

 

PROFIT & LOSS

 

 

Annual accounts

31-12­2012

 

31-12­2011

%

31-12­2010

Industry average 2012

%

 

Weeks

52

 

52

 

52

 

 

 

Currency

EUR

 

EUR

 

EUR

 

 

 

 

Turnover

-

-

-

-

-

46,788,819

-

 

Total operating expenses

-

-

-

-

-

46,394,806

-

 

Operating result

65,225

-15.29

76,999

-49.49

152,455

148,098

-55.96

 

Total financial income

232,185

-43.25

409,154

-2.48

419,545

98,058

136

 

Total financial expenses

248,211

-42.73

433,425

-16.37

518,291

204,982

21.09

 

Results on ordinary operations before taxation

49,198

-6.69

52,728

-1.83

53,709

32,874

49.66

 

Taxation

1,093

-80.37

5,570

829

599

20,907

-94.77

 

Results on ordinary operations after taxation

48,105

2.01

47,158

-11.21

53,110

17,996

167

 

Extraordinary items

0

-

0

-

0

-4,526

0

 

Other appropriations

0.00

-

0.00

-

0.00

-

-

 

Net result

48,105

2.01

47,158

-11.21

53,110

13,489

256

 

 

OTHER INFORMATION

 

Dividends

-

-

-

-

-

172,177

-

 

Director remuneration

-

-

-

-

-

114,302

-

 

Employee costs

-

-

-

-

-

126,363

-

 

Wages and salary

-

-

-

-

-

105,854

-

 

Employee pension costs

-

-

-

-

-

14,428

-

 

Social security contributions

-

-

-

-

-

26,598

-

 

Other employee costs

0

-

0

-

0

4,380

-100

 

Amortization and depreciation

5,611

5.41

5,323

75.85

3,027

17,934

-68.71

 

 

BALANCE SHEET

 

 

Annual accounts

31-12­2012

%

31-12­2011

%

31-12­2010

Industry average 2012

%

 

Weeks

52

 

52

 

52

 

 

 

Currency

EUR

 

EUR

 

EUR

 

 

 

Intangible fixed assets

0

-

0

-

0

1,561

-100

 

Tangible fixed assets

76,262

-6.29

81,382

12.20

72,532

185,388

58.86

 

Land & building

66,358

-3.05

68,443

-2.96

70,528

362,952

81.72

 

Plant & machinery

4,413

21.44

5,617

180

2,004

22,760

80.61

 

Furniture & Vehicles

5,491

25.00

7,322

73215400

0

17,415 5,433

68.47

 

Leasing & Other Similar Rights

-

-

-

-

-

142,153 32,369

-

 

Other tangible assets

0

-

0

-

0

7,664

-100

 

Financial fixed assets

1,636

0

1,636

0

1,636

309,151

-99

 

Total fixed assets

77,898

-6.17

83,018

11.93

74,168

398,254

80.44

 

Inventories

870,113

27.35

683,269

-20.85

863,277

3,108,260

72.01

 

Raw materials & consumables

-

-

-

-

-

7,209,884

-

 

Work in progress

0

-

0

-

0

2,411

-100

 

Finished goods

0

-

0

-

0

1,992,265

-100

 

Other stocks

870,113

27.35

683,269

-20.85

863,277

574,368

51.49

 

Trade debtors

1,228,242

2.31

1,200,551

46.51

819,417

4,189,589

70.68

 

Cash

93,410

10.51

104,374

-20.40

131,124

226,840

58.82

 

other amounts receivable

151,191

10.82

136,433

7.47

126,953

186,814

19.07

 

Miscellaneous current assets

0

-

0

-100

298

18,076

-100

 

Total current assets

2,342,956

10.28

2,124,627

9.46

1,941,069

7,252,094

67.69

 

Total Assets

2,420,854

9.66

2,207,645

9.55

2,015,238

7,617,297

1,454,678

68.22

 

CURRENT LIABILITIES

 

Trade creditors

1,231,544

-2.69

1,265,600

15.99

1,091,105

3,057,888

59.73

 

Short term group loans

-

-

-

-

-

-

-

 

Financial debts

32,646

-

-

-

-

4,287,536 192,320

-99

 

Current portion of long term debt

4,400

4.15

4,224

3.80

4,070

107,941 15,359

95.92

 

Amounts Payable for Taxes, Remuneration & Social Security

1,816

42.22

3,143

1910

156

9,445 -

94.66

 

Miscellaneous current liabilities

646,280

50.57

429,215

2.75

417,723

116

- -

 

Total current liabilities

1,916,686

12.60

1,702,182

12.50

1,513,054

5,370,007

64.31

 

LONG TERM DEBTS AND LIABILITIES

 

 

 

 

 

 

 

 

Long term group loans

-

-

-

-

-

-

- -

 

Other long term loans

9,341

32.02

13,740

-22.01

17,619

-99

- -

 

Deffered taxes

-

-

-

-

-

37,626 26,358

-

 

Provisions for Liabilities & Charges

0

-

0

-

0

3,200 0

-100

 

Other long term liabilities

1,503

0

1,503

0

1,503

129,533

98.84

 

Total long term debts

10,844

28.86

15,243

-20.28

19,122

562,172

98.07

 

SHAREHOLDERS EQUITY

 

Issued share capital

18,592

0

18,592

0

18,592

948,360

98.04

 

Share premium account

-

-

-

-

-

109,362

-

 

Reserves

474,732

0.66

471,627

1.54

464,469

693,149

31.51

 

Revaluation reserve

-

-

-

-

-

939,206

-

 

Total shareholders equity

493,324

0.63

490,219

1.48

483,061

1,671,347

70.48

 

Working capital

426,270

0.91

422,444

-1.30

428,015

1,882,087

77.35

 

 

Cashflow

53,716

2.35

52,481

-6.51

56,137

28,291

89.87

 

Net worth

493,324

0.63

490,219

1.48

483,061

1,668,090

70.43

 

 

RATIO ANALYSIS

 

 

Annual accounts

31-12-2012

change(%)

31-12-2011

change(%)

31-12-2010

Industry average 2012

%

 

TRADING PERFORMANCE

 

 

 

 

 

 

 

 

Profit Before Tax

-

-

-

-

-

-26,00

-

 

Return on capital employed

9.76

-6.42

10.43

-2.52

10.70

29,00

-66.34

 

Return on total assets employed

2.03

-15.06

2.39

-10.49

2.67

-202,00

1.00

 

Return on net assets employed

9.97

-7.34

10.76

-3.24

11.12

19,00

-47.53

 

Sales / net working capital

-

-

-

-

-

45,00

-

 

Stock turnover ratio

-

-

-

-

-

111,00

-

 

Debtor days

-

-

-

-

-

133,00

-

 

Creditor days

-

-

-

-

-

122,00

-

 

 

SHORT TERM STABILITY

 

Current ratio

1.22

-2.40

1.25

-2.34

1.28

7,00

-86.44

 

Liquidity ratio / acid ratio

0.77

-9.41

0.85

19.72

0.71

4,00

-80.75

 

Current debt ratio

3.89

12.10

3.47

10.86

3.13

9,00

-56.78

 

Liquidity ratio reprocessed

-

-

-

-

-

-

-

 

LONG TERM STABILITY

 

Gearing

9.40

156

3.66

-18.49

4.49

361,00

-97.40

 

Equity in percentage

20.38

-8.24

22.21

-7.34

23.97

-3.228,00

0.63

 

Total debt ratio

3.91

11.71

3.50

10.41

3.17

10,00

-60.90

 

 

Payment Information

 

Suspension of payments / moratorium history

 

Amount

-

Details

-

Payment expectations

Payment expectation days

-

Day sales outstanding

-

Industry comparison

Activity code

46761

Activity description

Wholesale of diamonds and other precious stones

Industry average payment expectation days

168.35

Industry average day sales outstanding

120.21

Industry quartile analysis

Payment expectations

Company result

-

Lower

134.36

Median

84.62

Upper

45.29

 

 

Day sales outstanding

Company result

-

Lower

112.48

Median

58.56

Upper

28.58

 

 

Shareholder Details

 

Summary

 

Group - Number of Companies

0

Linkages - Number of Companies

0

Number of Countries

0

 

Group Structure

 

Click the company to view / order a report.

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

 

No minority interests found

 

Individual Shareholders

 

SHAREHOLDER NAME

Forename

Riten

Middle name

-

Surname

Mehta

 

SHAREHOLDER DETAILS

Start date

02/10/1995

End date

-

Percentage owned

-

 

SHAREHOLDER ADDRESS

Street name

MATRU CHNAYA

House number

-

Minor town

-

Postal town

BOMBAY

Post code

-

Country

India

 

 

SHAREHOLDER NAME

Forename

Rajesh

Middle name

-

Surname

JAIN

 

SHAREHOLDER DETAILS

Start date

02/10/1995

End date

-

Percentage owned

-

 

SHAREHOLDER ADDRESS

Street name

MATRU CHNAYA

House number

-

Minor town

-

Postal town

BOMBAY

Post code

-

Country

India

 

 

Summary

 

Group - Number of Companies

0

Linkages - Number of Companies

0

Number of Countries

0

 

 

Court data

 

Protested bills

 

Drawee name

-

Address

-

Bill amount

-

Bill currency

-

Maturity of bill

-

Name of drawer

-

City of drawer

-

NSSO details

Business number

456153188

Name of defendant

-

Legal form of defendant

-

Date of summons

-

Labour court

-

 

 

Bankruptcy details

There is no bankruptcy data against this company

 

Bankruptcy Data

 

court data

there is no data for this company

 

 

Director details

 

Current director details

 

Name

RITEN MEHTA

Position

Principal Manager

Start Date

04/08/2010

Street

51 QUELLINSTRAAT 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.60.47

UK Pound

1

Rs.100.35

Euro

1

Rs.79.86

 

 

INFORMATION DETAILS

 

Report Prepared by :

SMN

 

 

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.