|
Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
HK
DIAM BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat
2, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.07.2002 |
|
|
|
|
Com. Reg. No.: |
478090135 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of Diamonds and Other Precious Stones |
|
|
|
|
No of Employees : |
01 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 |
A1 |
A2 |
|
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 |
478090135 |
|
Company name |
HK
DIAM BVBA |
|
Address |
HOVENIERSSTRAAT
2 |
|
|
2018
ANTWERPEN |
|
Number of staff |
1 |
|
Date of establishment |
29/07/2002 |
|
Telephone number |
032340373 |
|
Fax number |
032340373 |
|
The
business was established over 12 years ago. |
|
|
The
business has 1 employees. |
|
|
The
business has been at the address for over 7 years. |
|
|
Operating
Result in the latest trading period increased 30% on the previous trading
period. |
|
|
Pre-tax
profits increased by 33% compared to the previous trading period. |
|
|
The
business saw a decrease in their Cash Balance of 60% during the latest trading
period. |
|
|
Turnover
in the latest trading period increased 43% on the previous trading period. |
|
|
DATE OF LATEST
ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2012 |
111,181,138 |
244,161 |
4,179,831 |
6,749,927 |
|
31/12/2011 |
77,730,205 |
1
82,214 |
4,000,915 |
3,809,953 |
|
31/12/2010 |
91,733,258 |
170,450 |
3,864,456 |
3,673,467 |
|
Accounts |
||||
|
DATE OF LATEST
ACCOUNTS |
BALANCE
TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
34,475,058 |
1 |
3,495,000 |
199,173 |
|
31/12/2011 |
37,587,273 |
1 |
3,495,000 |
156,370 |
|
31/12/2010 |
34,499,610 |
1 |
3,495,000 |
154,221 |
|
Payment
expectations |
||||
|
Past
payments |
|
Payment expectation days |
44.82 |
|
|
Industry average payment expectation days |
129.58 |
Industry
average day sales outstanding |
131.83 |
|
|
Day
sales outstanding |
107.51 |
|
|
|
|
Business
number |
478090135 |
Company
name |
HK
DIAM BVBA |
|
|
Fax
number |
032340373 |
Date
founded |
29/07/2002 |
|
|
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.0478.090.135
Check VAT number |
|
|
Belgian
Bullettin of Acts Publications |
Moniteur
Belge |
|
|
|
|
Contractor
details |
||||
|
Registered
contractor number |
- |
|
|
|
|
Contractor
description |
- |
|
|
|
|
Date
struck off register |
||||
|
Social
Balance Sheet |
Total |
|
During
the reporting year |
|
|
ended
31-12-2012 |
|
|
Full-time
Employees |
1 |
|
Part-time
Employees |
- |
|
Total
Fte Employees |
1 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
1,756 |
|
Part-time
Employees |
- |
|
Total |
1,756 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
34,724 |
|
Part-time
Employees |
- |
|
Total |
34,724 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
1 |
|
Actual
working hours |
1,748 |
|
Personnel
Charges |
33,052 |
|
Benefits
In Addition To Wages |
- |
|
Joint Industrial Committee (JIC) |
|
|
JIC Code
|
218 |
|
Description
Category |
Additional
national joint committee for the employees |
|
|
|
|
Significant Events |
|
|
Event
Date |
16/05/2011 |
|
Event
Description |
Resignation-appointment
of directors |
|
Event
Details |
Commentaar
08-03-2011: Bevestiging van de benoeming van Dholakia Dharmesh als
Zaakvoerder. |
|
|
|
|
Event
Date |
16/05/2011 |
|
Event
Description |
Resignation-appointment
of directors |
|
Event
Details |
Commentaar
08-03-2011: Bevestiging van de benoeming van Dholakia Dharmesh als
Zaakvoerder. |
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 |
111,181,138 |
43.03 |
77,730,205 |
-15.26 |
91,733,258 |
40,445,514 |
174 |
|
Total operating expenses |
110,189,169 |
43.16 |
76,970,448 |
-15.17 |
90,730,509 |
40,129,325 |
174 |
|
Operating result |
991,969 |
30.56 |
759,757 |
-24.23 |
1,002,749 |
128,804 |
670 |
|
Total financial income |
- |
- |
264,119 |
1312 |
18,702 |
92,61 0 |
- |
|
Total financial expenses |
747,808 |
-11.15 |
841,662 |
-1.10 |
851,001 |
1 83,719 |
307 |
|
Results on ordinary operations before taxation |
244,161 |
34.00 |
182,214 |
6.90 |
170,450 |
28,651 |
752 |
|
Taxation |
65,245 |
42.60 |
45,755 |
27.18 |
35,976 |
21,126 |
208 |
|
Results on ordinary operations after taxation |
178,916 |
31.11 |
136,459 |
1.48 |
1 34,474 |
13,941 |
11 83 |
|
Extraordinary items |
0 |
- |
0 |
- |
0 |
-3,844 |
0 |
|
Other appropriations |
0.00 |
- |
0 |
- |
0 |
- |
- |
|
Net result OTHER INFORMATION |
178,916 |
31.11 |
136,459 |
1.48 |
1 34,474 |
10,119 |
1668 |
|
Gross Operating Margin |
- |
- |
- |
- |
- |
50,531 |
- |
|
Dividends |
- |
- |
- |
- |
- |
168,887 |
- |
|
Director remuneration |
- |
- |
- |
- |
- |
108,143 |
- |
|
Employee costs |
34,724 |
5.06 |
33,052 |
3.70 |
31,872 |
137,902 |
-74.82 |
|
Wages and salary |
28,175 |
3.88 |
27,122 |
6.11 |
25,560 |
11 8,594 |
-76.24 |
|
Employee pension costs |
- |
- |
- |
- |
- |
12,737 |
- |
|
Social security
contributions |
6,185 |
13.90 |
5,430 |
6.43 |
5,102 |
29,295 |
-78.89 |
|
Other employee costs |
364 |
-27.13 |
500 |
-58.68 |
1,210 |
4,861 |
-92.50 |
|
Amortization and depreciation |
20,257 |
1.74 |
19,911 |
0.83 |
19,747 |
18,054 |
12.20 |
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 |
1,197 |
-100 |
|
Tangible fixed assets |
328,582 |
-1.93 |
335,050 |
-5.06 |
352,906 |
188,724 |
74.11 |
|
Land & building |
294,278 |
-2.77 |
302,654 |
-2.69 |
311,030 |
372,714 |
-21.04 |
|
Plant & machinery |
19,087 |
114 |
8,911 |
-11.97 |
10,123 |
25,397 |
-24.84 |
|
Furniture & Vehicles |
15,217 |
-35.21 |
23,485 |
-26.04 |
31,753 |
16,91 8 5,029 |
-10.06 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
139,170
30,812 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
11,599 |
-100 |
|
Financial fixed assets |
370 |
0 |
370 |
0 |
370 |
234,444 |
-99 |
|
Total fixed assets |
328,952 |
-1.93 |
335,420 |
-5.05 |
353,276 |
343,083 |
-4.12 |
|
Inventories |
1,330,880 |
-65.50 |
3,857,607 |
-27.98 |
5,356,493 |
2,721,405 |
-51.10 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
7,018,491 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,513 |
-100 |
|
Finished goods |
1,330,880 |
-65.50 |
3,857,607 |
-27.98 |
5,356,493 |
1,752,867 |
-24.07 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
456,148 |
-100 |
|
Trade debtors |
32,747,700 |
-1.51 |
33,248,620 |
20.65 |
27,557,368 |
3,673,672 |
791 |
|
Cash |
53,936 |
-60.02 |
134,908 |
-88.96 |
1,222,370 |
207,138 |
-73.96 |
|
other amounts receivable |
5,425 |
91.42 |
2,834 |
9.38 |
2,591 |
211,968 |
-97.44 |
|
Miscellaneous current assets |
8,167 |
3.58 |
7,884 |
4.95 |
7,512 |
14,803 |
-44.83 |
|
Total current assets |
34,146,107 |
-8.34 |
37,251,853 |
9.09 |
34,146,334 |
6,367,592 |
436 |
|
Total Assets |
34,475,058 |
-8.28 |
37,587,273 |
8.95 |
34,499,61 0 |
6,672,355 1,217,713 |
416 |
CURRENT LIABILITIES
|
Trade creditors |
13,531,022 |
-21.67 |
17,274,494 |
32.83 |
13,004,563 |
2,800,774 |
383 |
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial debts |
13,646,783 |
-10.09 |
15,178,250 |
-11.58 |
17,166,525 |
3,614,307 150,000 |
277 |
|
Current portion of long term debt |
14,358 |
-22.92 |
18,628 |
-17.56 |
22,597 |
90,305 14,039 |
-84.10 |
|
Amounts Payable for Taxes,
Remuneration & Social Security |
19,466 |
0.97 |
19,280 |
46.71 |
13,142 |
8,598 - |
-44.80 |
|
Miscellaneous current liabilities |
184,550 |
-80.60 |
951,248 |
257 |
266,040 |
-37.47 |
- - |
|
Total current liabilities |
27,396,179 |
-18.08 |
33,441,900 |
9.74 |
30,472,867 |
4,732,803 |
478 |
|
LONG
TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other long term loans |
2,899,048 |
1906 |
144,458 |
-10.99 |
162,287 |
179 |
- - |
|
Deffered taxes |
- |
- |
- |
- |
- |
40,313 31,040 |
- |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,964 0 |
-100 |
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
92,747 |
-100 |
|
Total long term debts |
2,899,048 |
1906 |
144,458 |
-10.99 |
162,287 |
497,055 |
483 |
|
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
Issued share capital |
3,495,000 |
0 |
3,495,000 |
0 |
3,495,000 |
869,039 |
302 |
|
Share premium account |
- |
- |
- |
- |
- |
89,810 |
- |
|
Reserves |
684,831 |
35.36 |
505,915 |
36.94 |
369,456 |
541,892 |
26.38 |
|
Revaluation reserve |
- |
- |
- |
- |
- |
927,466 |
- |
|
Total shareholders equity |
4,179,831 |
4.47 |
4,000,915 |
3.53 |
3,864,456 |
1,436,956 |
190 |
|
Working capital |
6,749,927 |
77.17 |
3,809,953 |
3.72 |
3,673,467 |
1,634,789 |
312 |
|
Cashflow |
199,173 |
27.37 |
156,370 |
1.39 |
154,221 |
24,792 |
703 |
|
Net worth |
4,179,831 |
4.47 |
4,000,915 |
3.53 |
3,864,456 |
1,434,239 |
191 |
RATIO ANALYSIS
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
0.22 |
-4.35 |
0.23 |
21.05 |
0.19 |
-10,00 |
2.20 |
|
Return on capital employed |
3.45 |
-21.59 |
4.40 |
4.02 |
4.23 |
39,00 |
-91.15 |
|
Return on total assets employed |
0.71 |
47.92 |
0.48 |
-2.04 |
0.49 |
-292,00 |
0.24 |
|
Return on net assets employed |
5.84 |
28.35 |
4.55 |
3.17 |
4.41 |
26,00 |
-77.54 |
|
Sales / net working capital |
16.47 |
-19.26 |
20.40 |
-18.30 |
24.97 |
64,00 |
-99 |
|
Stock turnover ratio |
1.20 |
-75.81 |
4.96 |
-15.07 |
5.84 |
88,00 |
-98.64 |
|
Debtor days |
107.51 |
-31.14 |
156.13 |
42.39 |
109.65 |
148,00 |
-27.36 |
|
Creditor days SHORT TERM
STABILITY |
44.82 |
-45.29 |
81.92 |
56.57 |
52.32 |
192,00 |
-76.66 |
|
Current ratio |
1.25 |
12.61 |
1.11 |
-0.89 |
1.12 |
6,00 |
-88.64 |
|
Liquidity ratio / acid ratio |
1.20 |
20.00 |
1 |
6.38 |
0.94 |
4,00 |
-70.00 |
|
Current debt ratio |
6.55 |
-21.65 |
8.36 |
5.96 |
7.89 |
11,00 |
-40.45 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
396.19 |
3.32 |
383.45 |
-14.60 |
449 |
259,00 |
52.97 |
|
Equity in percentage |
12.12 |
13.91 |
10.64 |
-5.00 |
11.20 |
-3.364,00 |
0.36 |
|
Total debt ratio |
7.25 |
-13.59 |
8.39 |
5.80 |
7.93 |
12,00 |
-39.58 |
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity
description |
Wholesale of diamonds
and other precious stones |
|
industry average
credit |
64.48 |
|
rating |
|
|
Industry average
credit |
140177.31 |
|
limit |
|
|
Payment Information |
|
|
Payment
expectations |
|
|
Payment expectation
days |
44.82 |
|
Day sales
outstanding |
107.51 |
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity
description |
Wholesale of
diamonds and other precious stones |
|
Industry average
payment |
129.58 |
|
expectation days |
|
|
Industry average
day sales |
131.83 |
|
outstanding |
|
|
Industry quartile
analysis |
|
|
Payment
expectations |
|
|
Company result |
44.82 |
|
Lower |
127.33 |
|
Median |
76.80 |
|
Day sales
outstanding |
|
|
Company result |
107.51 |
|
Lower |
106.72 |
|
Median |
55.71 |
|
Upper |
26.51 |
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
|
Shareholder Name |
|
|
|
|
Forename |
Surendra |
Middle Name |
-- |
|
Surname |
Ribadiya |
|
|
|
|
|
|
|
|
Shareholder Details
|
|
|
|
|
Start Date |
17/07/2002 |
End Date |
-- |
|
Percentage Owned |
20% |
|
|
|
|
|
|
|
|
Shareholder Address
|
|
|
|
|
Street Name |
Quellinstraat |
House Number |
51 |
|
Minor Town |
-- |
Postal Town |
Antwerpen |
|
Post Code |
2018 |
Country |
Belgium |
|
|
|
|
|
|
Shareholder Name |
|
|
|
|
Forename |
Pareshkumar |
Middle Name |
-- |
|
Surname |
Golakiya |
|
|
|
|
|
|
|
|
Shareholder Details
|
|
|
|
|
Start Date |
17/07/2002 |
End Date |
-- |
|
Percentage Owned |
80% |
|
|
|
|
|
|
|
|
Shareholder Address
|
|
|
|
|
Street Name |
Quinten Matsijslei |
House Number |
37 |
|
Minor Town |
- |
Postal Town |
Antwerpen |
|
Post Code |
2018 |
Country |
Belgium |
NSSO DETAILS
Business number 478090135
Name of defendant Legal form
of ---
There is no bankruptcy data against this company
Bankruptcy Data
There
is no data for this company
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.61.87 |
|
|
1 |
Rs.97.69 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
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.