MIRA INFORM REPORT

 

 

Report Date :

24.12.2014

 

IDENTIFICATION DETAILS

 

Name :

DHAVAL GEMS BVBA

 

 

Registered Office :

Hoveniersstraat 2, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

10.01.1991

 

 

Com. Reg. No.:

441514801

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Belgium

A1

A1

 

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

441514801

Company name

DHAVAL GEMS BVBA

Address

HOVENIERSSTRAAT 2

 

2018 ANTWERPEN

Number of staff

0

Date of establishment

10/01/1 991

Telephone number

032315911

Fax number

032315911

 

 

Commentary

 

The business was established over 24 years ago.

 

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_nochange.gif

No employees are recorded for this business.

 

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_down.gif

The business has been at the address for over 10 years.

 

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_nochange.gif

Operating Result in the latest trading period increased 35% on the previous trading period.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

A 41% growth in Total Assets occurred during the latest trading period.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

Pre-tax profits increased by 34% compared to the previous trading period.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

The business saw an increase in their Cash Balance of 173% during the latest trading period.

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

 

 

Accounts

 

DATE OF LATEST

ACCOUNTS                  PROFIT BEFORE TAX              NET WORTH                 WORKING CAPITAL

31/12/2012                   7,980                                        152,232                         122,591

31/12/2011                    5,923                                        144,253             113,940

31/12/2010                    -26,852                                     138,329                         116,770

 

Accounts

DATE OF LATEST

ACCOUNTS                  BALANCE TOTAL         NUMBER OF EMPLOYEES       CAPITAL          CASHFLOW

31/12/2012                    1,946,582                      0                                              18,600              9,145

31/12/2011                    1,377,243                      0                                              18,600              7,010

31/12/2010                    1,292,277                      0                                              18,600              -17,906

 

 

TRENDS

 

Profitability

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

Liquidity

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_down.gif

Net worth

Description: http://app.creditsafeuk.com/CSUKlive/Images/arrow_up.gif

 

 

Payment expectations

 

Industry average payment expectation days                             132.90

Industry average day sales outstanding                                   133.81

 

 

Company summary

 

Business number

441514801

Company name

DHAVAL GEMS BVBA

Fax number

032315911

Date founded

10/01/1991

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

Wholesaler of diamonds and other precious stones

VAT Number

BE.0441.514.801 Check VAT number

Belgian Bullettin of Acts Publications

moniteur belge

 

 

 

 

COMPANY ACCOUNTS

 

Comparison Mode

·         Average                              Median                                                 Export accounts to CSV File

 

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

-

-

-

-

-

39,048,495

-

Total operating expenses

-

-

-

-

-

38,744,169

-

Operating result

8,834

35.90

6,501

24.61

-26,413

116,810

-92.44

Total financial income

2

12100

0

-91.30

0

80,911

-99

Total financial expenses

857

48.40

577

31.53

439

174,441

-99

Results on ordinary operations before taxation

7,980

34.72

5,923

22.06

-26,852

15,688

-49.13

Taxation

-

-

-

-

-44

18,950

-

Results on ordinary operations after taxation

7,980

34.72

5,923

22.10

-26,808

2,524

216

Extraordinary items

0

-

0

-

0

-3,619

0

Other appropriations

0.00

-

0.00

-

0.00

-

-

Net result

7,980

34.72

5,923

22.10

-26,808

-1,077

740

OTHER INFORMATION

 

 

 

 

 

 

 

Gross Operating Margin

11,783

30.28

9,044

-29.38

12,807

51,972

-77.33

Dividends

-

-

-

-

-

232,868

-

Director remuneration

-

-

-

-

-

1 07,670

-

Employee costs

-

-

-

-

-

140,309

-

Wages and salary

-

-

-

-

-

120,577

-

Employee pension costs

-

-

-

-

-

14,009

-

Social security contributions

-

-

-

-

-

29,724

-

Other employee costs

0

-

0

-

0

4,924

-100

Amortization and depreciation

1,165

7.13

1,087

-87.79

8,902

17,846

-93.47

 

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

785

-100

Tangible fixed assets

8,503

-7.32

9,175

2074

422

1 85,815

-95.42

Land & building

-

-

-

-

-

367,219

-

Plant & machinery

8,041

-12.35

9,175

2589

341

24,262

-66.86

Furniture & Vehicles

462

4619400

0

-99

81

16,057 5,025

-97.12

Leasing & Other Similar Rights

-

-

-

-

-

133,370 25,719

-

Other tangible assets

0

-

0

-

0

11,884

-100

Financial fixed assets

21,138

0

21,138

0

21,138

236,277

-91.05

Total fixed assets

29,641

-2.21

30,312

40.60

21,560

340,591

-91.30

Inventories

863,558

189

298,557

77.36

168,335

2,711,429

-68.15

Raw materials & consumables

-

-

-

-

-

8,330,553

-

Work in progress

0

-

0

-

0

2,526

-100

Finished goods

0

-

0

-

0

1,740,264

-100

Other stocks

863,558

189

298,557

77.36

168,335

456,829

89.03

Trade debtors

741,699

-20.55

933,497

-9.26

1,028,787

3,564,561

-79.19

Cash

306,812

173

112,21 8

60.19

70,051

203,953

50.43

other amounts receivable

4,022

97.97

2,031

-32.27

2,999

208,424

-98.07

Miscellaneous current assets

849

35.15

628

15.31

545

15,308

-94.45

Total current assets

1,916,941

42.32

1,346,931

6.00

1,270,717

6,241,569

-69.29

Total Assets

1,946,582

41.34

1,377,243

6.57

1,292,277

6,543,467 1,220,826

-70.25

Current liabilities

 

 

 

 

 

 

 

 Trade creditors

1,033,725

124

461,011

12.65

409,257

2,756,971

-62.51

Short term group loans

-

-

-

-

-

-

-

Financial debts

-

-

-

-

-

3,426,009 146,487

-

Current portion of long term debt

-

-

-

-

-

101,802 14,194

-

Amounts Payable for Taxes, Remuneration & Social Security

5,610

44.25

3,889

80.09

2,159

8,500 -

-83.19

Miscellaneous current liabilities

755,014

-1.70

768,091

3.44

742,531

147

- -

Total current liabilities

1,794,349

45.53

1,232,990

6.85

1,153,947

4,636,788

-61.30

LONG TERM DEBTS AND LIABILITIES

 

 

 

 

 

 

Long term group loans

-

-

-

-

-

-

- -

Other long term loans

-

-

-

-

-

-

- -

Deffered taxes

-

-

-

-

-

40,179 31,040

-

Provisions for Liabilities & Charges

0

-

0

-

0

3,964 0

-100

Other long term liabilities

0

-

0

-

0

81,736

-100

Total long term debts

0

-

0

-

0

487,039

-100

SHAREHOLDERS EQUITY

 

 

 

 

 

 

 

Issued share capital

18,600

0

18,600

0

18,600

882,658

-97.89

Share premium account

-

-

-

-

-

89,810

-

Reserves

133,632

6.35

125,653

4.95

119,729

505,466

-73.56

Revaluation reserve

-

-

-

-

-

924,316

-

Total shareholders equity

152,232

5.53

144,253

4.28

138,329

1,414,184

-89.24

Working capital

122,591

7.59

113,940

-2.42

116,770

1,604,782

-92.36

Cashflow

9,145

30.45

7,010

39.15

-17,906

13,428

-31.90

Net worth

152,232

5.53

144,253

4.28

138,329

1,411,894

-89.22

 

Ratio Analysis

Annual accounts

               

31-12-2012

change(%)

31-12-2011

change(%)

31-12-2010

Industry average 2012

%

TRADING PERFORMANCE

 

 

 

 

 

 

 

Profit Before Tax

-

-

-

-

-

-10,00

-

Return on capital employed

5.24

27.49

4.11

21.17

-19.41

39,00

-86.56

Return on total assets employed

0.41

-4.65

0.43

20.67

-2.08

-294,00

0.14

Return on net assets employed

5.24

27.49

4.11

21.17

-19.41

27,00

-80.59

Sales / net working capital

-

-

-

-

-

62,00

-

Stock turnover ratio

-

-

-

-

-

89,00

-

Debtor days

-

-

-

-

-

150,00

-

Creditor days SHORT TERM STABILITY

 

 

 

 

 

195,00

 

Current ratio

1.07

-1.83

1.09

-0.91

1.10

6,00

-89.30

Liquidity ratio / acid ratio

0.59

-30.59

0.85

-11.46

0.96

4,00

-85.25

Current debt ratio

11.79

37.89

8.55

2.52

8.34

10,00

17.90

Liquidity ratio reprocessed

-

-

-

-

-

-

-

LONG TERM STABILITY

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

259,00

-

Equity in percentage

7.82

-25.31

10.47

-2.15

10.70

-3.382,00

0.23

Total debt ratio

11.79

37.89

8.55

2.52

8.34

11,00

7.18

 

Industry comparison

 

Activity code

46761

Activity description

Wholesaler of diamonds and other precious stones

Industry average payment

expectation days

132.90

 

Industry average day sales

outstanding

133.81

 

 

Industry quartile analysis

 

Payment expectations

 

Lower

128.30

Median

79.12

Upper

45.88

 

 

Day Sales Outstanding

 

Lower

108.77

Median

55.71

Upper

27.87

 

 

Group Structure

 

No group structure for this company.

 

Minority Shareholders

 

No minority shareholders found

 

Minority Interests

 

No minority interests found

 

 

NSSO details

 

Business number                       441514801

 

 

Bankruptcy details

 

There is no bankruptcy data against this company

 

Bankruptcy Data

 

Court Data

there is no data for this company

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.45

UK Pound

1

Rs.98.88

Euro

1

Rs.77.62

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ANK

 

 

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.