MIRA INFORM REPORT
|
Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
IDAN DIAM BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 51-Bus 109, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
14.03.2011 |
|
|
|
|
Com. Reg. No.: |
834525147 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of Diamond & 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 |
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 |
Company
name & address
Business number 834525147
Company name IDAN DIAM BVBA
Address HOVENIERSSTRAAT 51-BUS 109
2018 ANTWERPEN
Number of staff 0
Date of establishment 14/03/2011
Commentary
|
The business was established over 3 years
ago. |
|
|
No employees are recorded for this
business. |
|
|
The business has been at the address for
over 3 years. |
|
|
A 33% growth in Total Assets occurred
during the latest trading period. |
|
|
Pre-tax profits decreased by 64% compared
to the previous trading period. |
|
|
The business saw an increase in their Cash
Balance of 64% during the latest trading period. |
|
Accounts
DATE OF LATEST
ACCOUNTS TURNOVER PROFIT BEFORE TAX NET WORTH WORKING CAPITAL
31/12/2013 -- 3,221 69,758 57,625
31/12/2012 -- 9,039 67,116 50,731
31/12/2011 6,192,425 14,074 60,136 36,706
Accounts
DATE OF LATEST
ACCOUNTS BALANCE TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2013 1,299,664 0 50,000 6,431
31/12/2012 977,097 0 50,000 12,379
31/12/2011 3,953,272 0 50,000 17,224
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment
expectations
Industry average payment expectation days 101.25
Company
information
|
Business number |
834525147 |
Company name |
IDAN DIAM BVBA |
|
Fax number |
Date founded |
14/03/2011 |
|
|
Company status |
active |
Company type |
Private Limited Company (BL/LX) |
|
Currency |
Euro (€) |
Date of latest
accounts |
31/12/2013 |
|
Activity code |
32121 |
Liable for VAT |
yes |
|
Activity
description |
Wholesaler of Diamond & Other precious stones |
VAT Number |
BE.0834.525.147 Check VAT number |
|
Belgian
Bullettin of Acts Publications |
moniteur belge |
|
|
Company
accounts
Profit & loss
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
42 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
- |
- |
- |
- |
6,192,425 |
55,342,923 |
- |
|
Total operating expenses |
- |
- |
- |
- |
6,084,448 |
54,701,205 |
- |
|
Operating result |
-30,356 |
-363 |
-6,554 |
-106 |
107,978 |
128,480 |
-123 |
|
Total financial income |
44,109 |
-80.88 |
230,699 |
144186775 |
0 |
183,203 |
-75.92 |
|
Total financial expenses |
10,533 |
-95.10 |
215,105 |
129 |
93,904 |
266,419 |
-96.05 |
|
Results on ordinary operations before
taxation |
3,221 |
-64.36 |
9,039 |
-35.78 |
14,074 |
18,974 |
-83.02 |
|
Taxation |
2,639 |
28.15 |
2,059 |
-47.71 |
3,938 |
2,120,839 |
-99 |
|
Results on ordinary operations after
taxation |
583 |
-91.65 |
6,980 |
-31.14 |
10,136 |
-1,457,296 |
0.04 |
|
Extraordinary items |
0 |
- |
0 |
- |
0 |
2,191,191 |
-100 |
|
Other appropriations |
0.00 |
- |
0 |
- |
0.00 |
- |
- |
|
Net result |
583 |
-91.65 |
6,980 |
-31.14 |
10,136 |
733,914 |
-99 |
|
OTHER INFORMATION |
|
|
|
|
|
|
|
|
Gross Operating Margin |
-23,938 |
-11030 |
219 |
-99 |
118,175 |
59,902 |
-139 |
|
Dividends |
- |
- |
- |
- |
- |
223,233 |
- |
|
Director remuneration |
- |
- |
- |
- |
- |
196,873 |
- |
|
Employee costs |
- |
- |
- |
- |
- |
227,577 |
- |
|
Wages and salary |
- |
- |
- |
- |
- |
172,654 |
- |
|
Employee pension costs |
- |
- |
- |
- |
- |
0 |
- |
|
Social security contributions |
- |
- |
- |
- |
- |
56,894 |
- |
|
Other employee costs |
0 |
- |
0 |
- |
0 |
7,746 |
-100 |
|
Amortization and depreciation |
5,848 |
8.31 |
5,399 |
-23.83 |
7,088 |
22,811 |
-74.36 |
Balance Sheet
|
Annual
accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Assets |
|
|
|
|
|
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
5,430 |
-100 |
|
Tangible
fixed assets |
12,133 |
-25.95 |
16,385 |
-30.07 |
23,430 |
119,963 |
-89.89 |
|
Land & building |
-- |
-- |
-- |
-- |
-- |
181,518 |
-- |
|
Plant & machinery |
6,448 |
-31.93 |
9,473 |
-9.85 |
10,508 |
48,246 |
-86.64 |
|
Furniture & Vehicles |
1,146 |
33.15 |
861 |
-93.34 |
12,922 |
19,931 6,073 |
-94.25 |
|
Leasing & Other Similar
Rights |
--- |
--- |
--- |
--- |
--- |
32,251 15,120 |
--- |
|
Other tangible assets |
4,539 |
-24.99 |
6,051 |
-- |
0 |
4,489 |
1.11 |
|
Financial
fixed assets |
-- |
-- |
-- |
-- |
-- |
92,915 |
--- |
|
Total
fixed assets |
12,133 |
-25.95 |
16,385 |
-30.07 |
23,430 |
179,688 |
-93.25 |
|
Inventories |
642,688 |
2.20 |
628,849 |
-66.57 |
1,881,142 |
6,745,093 |
-90.47 |
|
Raw materials &
consumables |
--- |
-- |
-- |
-- |
-- |
383,070 |
-- |
|
Work in progress |
0 |
--- |
0 |
--- |
0 |
11,868 |
-100 |
|
Finished goods |
0 |
--- |
0 |
--- |
0 |
3,661,250 |
-100 |
|
Other stocks |
642,688 |
2.20 |
628,849 |
-66.57 |
1,881,142 |
1,018,240 |
-36.88 |
|
Trade
debtors |
582,458 |
98.02 |
294,144 |
-85.16 |
1,982,705 |
3,147,845 |
-81.50 |
|
Cash |
53,838 |
64.56 |
32,717 |
-39.41 |
53,995 |
269,675 |
-80.04 |
|
other
amounts receivable |
3,548 |
354663 |
1 |
-99 |
5,663 |
251,186 |
-98.59 |
|
Miscellaneous
current assets |
5,000 |
-0.02 |
5,001 |
-21.07 |
6,336 |
27,721 |
-81.96 |
|
Total
current assets |
1,287,531 |
34.02 |
960,712 |
-75.55 |
3,929,842 |
8,342,887 |
-84.57 |
|
Total
Assets |
1,299,664 |
33.01 |
977,097 |
-75.28 |
3,953,272 |
8,496,151 379,883 |
-84.70 |
Current liabilities
|
Annual
accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Trade creditors |
1,078,917 |
42.14 |
759,066 |
-79.61 |
3,723,516 |
2,259,013 |
-52.24 |
|
Financial debts |
- |
- |
- |
- |
- |
7,374,434 134,656 |
- |
|
Current portion of long term debt |
- |
- |
- |
- |
- |
29,046 19,802 |
- |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
1,294 |
-37.17 |
2,059 |
-61.90 |
5,405 |
13,250 - |
-96.01 |
|
Miscellaneous current liabilities |
149,695 |
0.56 |
148,856 |
-9.35 |
164,215 |
-46.43 |
- - |
|
Total current liabilities |
1,229,906 |
35.16 |
909,981 |
-76.63 |
3,893,136 |
4,945,198 |
-75.13 |
|
LONG TERM DEBTS AND
LIABILITIES |
|
|
|
|
|
|
|
|
Other long term loans |
- |
- |
- |
- |
- |
- |
- - |
|
Deffered taxes |
- |
- |
- |
- |
- |
16,708 15,059 |
- |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
11,390 0 |
-100 |
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
35,216 |
-100 |
|
Total long term debts |
0 |
- |
0 |
- |
0 |
415,759 |
-100 |
|
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
Issued share capital |
50,000 |
0 |
50,000 |
0 |
50,000 |
1,708,492 |
-97.07 |
|
Share premium account |
- |
- |
- |
- |
- |
185,110 |
- |
|
Reserves |
19,758 |
15.44 |
17,116 |
68.86 |
10,136 |
1,418,171 |
-98.61 |
|
Revaluation reserve |
- |
- |
- |
- |
- |
166,627 |
- |
|
Total shareholders equity |
69,758 |
3.94 |
67,116 |
11.61 |
60,136 |
3,135,194 |
-97.78 |
|
Working capital |
57,625 |
13.59 |
50,731 |
38.21 |
36,706 |
3,397,689 |
-98.30 |
|
Cashflow |
6,431 |
-48.05 |
12,379 |
-28.13 |
17,224 |
753,370 |
-99 |
|
Net worth |
69,758 |
3.94 |
67,116 |
11.61 |
60,136 |
3,129,763 |
-97.77 |
Ratio analysis
|
Annual accounts |
31-12-2013 |
change(%) |
31-12-2012 |
change(%) |
31-12-2011 |
Industry average 2013 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
- |
- |
- |
- |
0.23 |
-5,00 |
- |
|
Return on capital employed |
4.62 |
-65.70 |
13.47 |
-42.44 |
23.40 |
-9,00 |
51.33 |
|
Return on total assets employed |
0.25 |
-73.12 |
0.93 |
158 |
0.36 |
-28,00 |
0.89 |
|
Return on net assets employed |
4.62 |
-65.70 |
13.47 |
-42.44 |
23.40 |
26,00 |
-82.23 |
|
Sales / net working capital |
- |
- |
- |
- |
168.70 |
40,00 |
- |
|
Stock turnover ratio |
- |
- |
- |
- |
30.38 |
85,00 |
- |
|
Debtor days |
- |
- |
- |
- |
116.87 |
112,57 |
- |
|
Creditor days |
- |
- |
- |
- |
223.37 |
101,25 |
- |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
Current ratio |
1.05 |
-0.94 |
1.06 |
4.95 |
1.01 |
5,00 |
17.50 |
|
Liquidity ratio / acid ratio |
0.52 |
44.44 |
0.36 |
-32.08 |
0.53 |
3,00 |
-82.67 |
|
Current debt ratio |
17.63 |
30.01 |
13.56 |
-79.05 |
64.74 |
-6,00 |
293 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
- |
- |
- |
- |
- |
74,00 |
- |
|
Equity in percentage |
5.37 |
-21.83 |
6.87 |
351 |
1.52 |
-250,00 |
2.15 |
|
Total debt ratio |
17.63 |
30.01 |
13.56 |
-79.05 |
64.74 |
-5,00 |
352 |
Industry
comparison
Activity description Wholesaler
of Diamond & Other precious stones
Industry average payment
expectation days 101.25
Industry average day sales
Outstanding 112.57
Industry
quartile analysis
Payment expectations
Lower 131.36
Median 74.61
Upper 38.52
Day sales outstanding
Lower 116.16
Median 58.66
Upper 18.94
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
Summons
there is no data for this company
Protested
Bills
there is no data for this company
Bankruptcy
and other legal events
there is no data for this company
Director
details
Current director
details
Name AVIV SEROR
Position Principal Manager
Start Date 14/03/2011
Date of birth 02/04/1982
Street 33 RUBENSLEI
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.61.97 |
|
UK Pound |
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.