MIRA INFORM REPORT

 

 

Report Date :

06.12.2014

 

IDENTIFICATION DETAILS

 

Name :

TANYA'S ANTWERP BVBA

 

 

Registered Office :

Schupstraat 1-BUS 2, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

18.06.2004

 

 

Com. Reg. No.:

866050246

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of Diamonds and Other Precious Stones.

 

 

No. of Employees :

NIL

 

 

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 :

Unknown

 

 

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 Summary

 

Business number         866050246

Company name           TANYA'S ANTWERP BVBA

Address                        SCHUPSTRAAT 1-BUS 2

2018 ANTWERPEN

Number of staff            0

Date of establishment 18/06/2004

Telephone number      032264377

Fax number                 032391286

 

 

Commentary

 

The business was established over 10 years ago.

No employees are recorded for this business.

The business has been at the address for over 7 years.

Operating Result in the latest trading period decreased 77% on the previous trading period.

A 22% growth in Total Assets occurred during the latest trading period.

Pre-tax profits decreased by 32% compared to the previous trading period.

The business saw an increase in their Cash Balance of 53% during the latest trading period.

 

 

Accounts

 

DATE OF LATEST         PROFIT BEFORE TAX               NET WORTH WORKING            CAPITAL

ACCOUNTS

31/12/2013                                25,660                                      84,843                          73,632

31/12/2012                                37,809                                      79,217                          64,957

31/12/2011                                55,024                                      68,984                          50,735

 

 

DATE OF LATEST ACCOUNTS

BALANCE TOTAL

NUMBER OF

EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

1,786,422

0

18,750

41,877

31/12/2012

1,454,678

0

18,750

47,538

31/12/2011

2,982,845

0

18,750

55,029

 

 

Payment expectations

 

Past payments

 

Payment expectation days

-

Industry average payment expectation days

124.37

Industry average day sales

outstanding

141.78

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

866050246

Company name

TANYA'S ANTWERP BVBA

Fax number

032391286

Date founded

18/06/2004

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.0866.050.246 Check VAT number

Belgian Bullettin of Acts Publications

moniteur belge

 

 

 

 

Company Accounts

 

ASSETS

Annual accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

%

31-12-2009

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

 

Total fixed assets

23,502

-32.37

34,753

-25.38

46,571

1479

2,948

-20.51

3,709

 

Intangible fixed assets

0

-

0

-

0

-

0

-

0

Tangible fixed assets

23,502

-32.37

34,753

-25.38

46,571

1479

2,948

-20.51

3,709

Land & building

-

-

-

-

-

-

-

-

-

Plant & machinery

162

-68.96

523

12.92

463

-36.32

727

-26.67

992

Furniture & Vehicles

23,339

-31.82

34,230

-25.76

46,108

1975

2,221

-18.26

2,718

Leasing & Other Similar Rights  

-

-

-

-

-

-

-

-

-

Other tangible assets

0

-

0

-

0

-

0

-

0

Financial fixed assets             

-

-

-

-

-

-

-

-

-

Total current assets

1,762,920

24.16

1,419,925

-51.64

2,936,274

-43.66

5,211,636

282

1,361,338

Inventories

91,265

-11.01

102,555

-14.54

120,008

-50.00

240,006

7.28

223,718

Raw materials & consumables

-

-

-

-

-

-

-

-

-

Work in progress

0

-

0

-

0

-

0

-

0

Finished goods

0

-

0

-

0

-

0

-

0

Other stocks

91,265

-11.01

102,555

-14.54

120,008

-50.00

240,006

7.28

223,718

 

Trade debtors

1,439,552

25.76

1,144,714

-58.58

2,763,764

-41.92

4,758,648

362

1,029,330

Other amounts receivable

486

-97.62

20,390

1934

1,002

-50.03

2,005

93.23

1,038

Cash

228,002

53.24

148,784

220

46,362

-77.67

207,631

98.64

104,527

Miscellaneous current assets

3,616

3.88

3,481

-32.25

5,138

53.57

3,346

22.82

2,724

Total Assets

1,786,422

22.81

1,454,678

-51.23

2,982,845

-42.80

5,214,585

282

1,365,047

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES

Total shareholders equity

84,843

7.10     79,217      14.83        68,984

10.72           62,304

45.55       42,805

Issued share capital

18,750

0         18,750         0

18,750

0

18,750

0

18,750

 

Share Premium Accounts

-

-

-

-

-

-

-

-

-

Revalution reserve

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Reserves

66,093

9.30

60,467

20.37

50,234

15.34

43,554

81.06

24,055

 

 

 

 

 

 

 

 

 

 

Provisions for Liabilities & Charges

0

-

0

-

0

-

0

-

0

Deffered taxes                                 

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Creditors

1,701,579

23.71

1,375,461

-52.80

2,913,861

-43.45

5,152,281

289

1,322,242

 

 

 

 

 

 

 

 

 

 

Other long term loans

12,291

-40.02

20,492

-27.64

28,322

-

-

-

-

Long term group loans                       

-

-

-

-

-

-

-

-

-

Other long term liabilities

0

-

0

-

0

-

0

-

0

Total long term debts

12,291

-40.02

20,492

-27.64

28,322

-

0

-

0

 

 

 

 

 

 

 

 

 

 

Current portion of long term debt

8,202

4.75

7,830

4.75

7,475

-

-

-

-

Financial debts                                

-

-

-

-

-

-

-

-

-

 

Trade creditors

1,499,623

35.67

1,105,383

-57.81

2,620,213

-46.57

4,903,845

351

1,086,158

Amounts Payable for Taxes, Remuneration & Social Security

1,000

-70.99

3,447

-28.03

4,790

3172

146

-

-

 

Miscellaneous current liabilities

180,463

-24.27

238,309

-5.83

253,061

1.92

248,289

5.17

236,084

Total current liabilities

1,689,288

24.67

1,354,968

-53.04

2,885,539

-43.99

5,152,281

289

1,322,242

 

 

 

 

 

 

 

 

 

 

Total Liabilities

1,786,422

22.81

1,454,678

-51.23

2,982,845

-42.80

5,214,585

282

1,365,047

 

 

Ratio Analysis

 

TRADING PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit Before Tax

-

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Return on capital employed

26.42

-30.33

37.92

-32.94

56.55

- 22.88

73.33

10.60

66.30

 

 

 

 

 

 

 

 

 

 

Return on total assets employed

1.44  

-44.62

2.60

41.30

1.84

109

0.88

-57.69

2.08

 

 

 

 

 

 

 

 

 

 

Return on net assets employed

30.24 

-36.64

47.73

-40.16

79.76

8.77

73.33

10.60

66.30

 

 

 

 

 

 

 

 

 

 

Sales / net working capital

            -

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Stock turnover ratio

            -

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Creditor days

            -

-

-

-

-

-

-

-

-

Debtor days

            -

-

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

SHORT TERM STABILITY

 

 

 

 

 

 

 

 

 

Current ratio

1.04

-0.95

1.05

2.94

1.02

0.99

1.01

-1.94

1.03

 

Liquidity ratio / acid ratio

0.99

2.06

0.97

-1.02

0.98

2.08

0.96

11.63

0.86

 

 

 

 

 

 

 

 

 

 

Current debt ratio

19.91

16.43

17.10

-59.12

41.83

-49.42

82.70

167

30.89

 

 

 

 

 

 

 

 

 

 

Liquidity ratio reprocessed                 

            -

-

-

-

-

-

-

-

-

 

Cashflow

41,877

-11.91

47,538

-13.61

55,029

21.58

45,260

64.10

27,581

 

 

 

 

 

 

 

 

 

 

Net worth

84,843

7.10

79,217

14.83

68,984

10.72

62,304

45.55

42,805

LONG TERM STABILITY

 

 

 

 

 

 

 

 

 

Gearing

24.15

-32.45

35.75

-31.10

51.89

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Equity in percentage

           4.75

 

-12.84

5.45

135

2.31

94.12

1.19

-62.10

3.14

 

 

 

 

 

 

 

 

 

 

Total debt ratio

         20.06

15.55

17.36

-58.90

42.24

-48.92

82.70

167

30.89

 

 

 

 

 

 

 

 

 

 

Working capital

73,632

13.36

64,957

28.03

50,735

-14.52

59,355

51.82

39,095

 

PROFIT AND LOSS

 

Operating Income                                    -            -                                 -             -                -            -                                 -            -                 -

Turnover                                                                 -            -                                 -             -                -            -                                 -            -                 -

Total operating expenses                       -            -                                 -             -                -            -                                 -            -                 -

Gross Operating Margin                          68,807 -53.23          147,112 554            22,486 -48.92          44,019 91.77           22,954

Operating Charges                                  -            -                                 -             -                -            -                                 -            -                 -

Employee costs                                       -            -                                 -             -                -            -                                 -            -                 -

Wages and salary                                   -            -                                 -             -                -            -                                 -            -                 -

Employee pension costs                         -            -                                 -             -                -            -                                 -            -                 -

Social security contributions                   -            -                                 -             -                -            -                                 -            -                 -

Other employee costs                             0           -                  0            -                 0           -                  0           -                  0

Director remuneration                             -            -                                 -             -                -            -                                 -            -                 -

Amortization and depreciation                                11,251 -8.56            12,305 47.40           8,348 997                761 -51.88               1,581

Operating result                                      29,213 -77.89          132,136 1134          10,703 -74.39          41,784 396              -10,526

Total financial income                              59,723 -62.91          161,018 -76.10        673,652 71.50         392,805 136            165,768

Total financial expenses                         63,275 -75.22          255,344 -59.43        629,332 61.82         388,903 206            126,864

Results on ordinary operations

efore taxation                                          25,660 -32.13          37,809 -31.29          55,024 20.44           45,686 60.99           28,378

Extraordinary Income                              9,058    -                  -            -                                 1,000     -                 -             -                -

Extraordinary Charges                            -            -                                 -             -                -             -                -            -                 -

Extraordinary items                                                 9,058   -                   0         -100              1,000      -                0            -                 0

Results for the Year Before Taxation     34,718 -8.18            37,809 -32.51          56,024 22.63           45,686 60.99           28,378

Other appropriations                               -            -                                 -             -                -            -                                 -            -                 -

Taxation                                                  4,092 58.82             2,576 -72.42            9,343 687                1,187 -50.07            2,377

Results on ordinary operations

after taxation                                           21,569 -38.78          35,233 -22.87          45,681 2.66             44,499 71.15           26,000

Net result                                                 30,626 -13.08          35,233 -24.52          46,681 4.90             44,499 71.15           26,000

Profit (Loss) for the Year to be appropiated 30,626 -13.08   35,233 -24.52          46,681 4.90             44,499 71.15           26,000

Dividends                                                                -            -                                 -             -                -            -                                 -            -                 -

 

 

Industry comparison

Activity code                            46761

Activity description                  Wholesale of diamonds and other precious stones

industry average credit

rating                                       64.48

Industry average credit limit    140177.31

 

 

Payment Information

 

Industry comparison

Activity code                            46761

Activity description                  Wholesale of diamonds and other precious stones

Industry average payment

expectation days                     124.37

Industry average day sales

Outstanding                             141.78

 

 

Industry quartile analysis

Payment expectations

Company result                       -

Lower                                      123.11

Median                                    76.39

Upper                                       46.98

 

 

Day sales outstanding

Company result                       -

Lower                                      102.84

Median                                    54.50

Upper                                       24.07

 

 

Shareholder Details

 

Summary

Group - Number of Companies            0

Linkages - Number of Companies        0

Number of Countries                            0

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

Companies that match this address

No Companies Match this address

 

 

Linked Companies

 

Summary

Group - Number of Companies            0

Linkages - Number of Companies        0

Number of Countries                            0

 

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                           NIRAV SUNIL GHANDI

Position                       Principal Manager

Start Date                    28/05/2011

Street                           96 BELGIËLEI ANTWERPEN

Post code                     2018

Country                        Belgium

 

Name                           NIRAV GANDHI

Position                       Principal Manager

Start Date                    28/05/2011

Street                           96 BELGIËLEI ANTWERPEN

Post code                     2018

Country                        Belgium

 

Former director details

Name                           PRANAV SUNIL GHANDI

Position                       Principal Manager

Start Date                    16/07/2011

End Date                      31/12/2012

Street                           96 BELGIËLEI ANTWERPEN

Post code                     2018

Country                        Belgium

 

Name                           PRANAV SUNIL GANDHI

Position                       Principal Manager

Start Date                    18/06/2004

End Date                      Unknown date

Street                           96 BELGIËLEI ANTWERPEN

Post code                     2018

Country                        Belgium

 

Position                       Non Statutory Partner

Start Date                    18/06/2004

End Date                      28/05/2011

Street                           96 BELGIËLEI 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.61.85

UK Pound

1

Rs.96.73

Euro

1

Rs.76.53

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NIT

 

               

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.