MIRA INFORM REPORT

 

 

Report Date :

03.01.2014

 

IDENTIFICATION DETAILS

 

Name :

DIAMOND SPECTRUM ENTERPRISES B.V.

 

 

Registered Office :

Nijverheidstraat 27, 4143HN Leerdam

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

05.05.1992

 

 

Com. Reg. No.:

33299041

 

 

Legal Form :

Private Company

 

 

Line of Business :

Importer, exporter and wholesaler of natural stone products including granite, basalt, marble, limestone, slate, quartzite and travertine

 

 

No. of Employees :

03 (2013)

 

 

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Netherlands ECONOMIC OVERVIEW

 

The Dutch economy is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit in 2011. In 2012 tax revenues dropped nearly 9%, GDP contracted, and the budget deficit deteriorated. Although jobless claims continued to grow, the unemployment rate remained relatively low at 6.8 percent.

 

Source : CIA

 

Company summary

 

Company name

Diamond Spectrum Enterprises B.V.

 

 

Operative address

Nijverheidstraat 27

 

4143HN Leerdam

 

Netherlands

 

 

Status

Active

 

Legal form                          Besloten Vennootschap  (Private company)

 

Registration number           KvK-nummer: 33299041

 

VAT-number                      806901275

 

 

Year

2012

Mutation

2011

Mutation

2010

Fixed assets

42.731

-91,49

502.048

320,75

119.321

Total receivables

320.274

0,39

319.044

-42,37

553.597

Total equity

317.704

-2,34

325.302

1,36

320.949

Short term liabilities

1.214.967

-22,27

1.563.049

-14,17

1.821.031

Working capital

274.973

261,04

-170.746

-177,74

219.628

Quick ratio

0,32

60,00

0,20

-35,48

0,31


Contact information

 

Company name                       Diamond Spectrum Enterprises B.V.

Trade names                           Diamond Spectrum Enterprises B.V.

Operative address                   Nijverheidstraat 27

4143HN Leerdam

Netherlands

Correspondence address         Nijverheidstraat 27

4143HN LEERDAM

Netherlands

Telephone number                  0345 509010

Email address                          mailbox@diamondspectrum.com

Website                                   www.diamondspectrum.com

 

Registration

 

Registration number                            KvK-nummer: 33299041

Registered in                                       Kamer van Koophandel Midden-Nederland

Branch number                                    000019066090

VAT-number                                        806901275

Status                                                  Active

First registration company register      1998-01-13

Memorandum                                      1997-12-30

Establishment date                              1992-05-05

Legal form                                           Besloten Vennootschap (Private Company)

 

 

Activites

 

Importer, exporter and wholesaler of natural stone products including granite, basalt, marble, limestone, slate, quartzite and travertine

 

 

Relations

 

Shareholders                 Diamond Spectrum Holding B.V.

Medusastraat 8

1363TW ALMERE

Netherlands

Registration number:      332379160000

Percentage:                   100.00%

 

 

Management

 

Active management

B. Hasnain (Badrul)

Netherlands

Competence: Fully authorized

Function: Manager

Starting date: 1997-12-30

Date of birth: 1966-11-15, Jharmadwir, IN

 

E. Hasnain-Nasim (Endeleeb)

Netherlands

Competence: Fully authorized

Function: Manager

Starting date: 1997-12-30

Date of birth: 1969-06-11, Multan, PK

 

 

Employees

 

Year                 2013     2012     2011     2010     2009

Total                 3          3          3          8          7

 

 

Payments

 

Description                              Payments are made regularly no complaints are known

Key figures

 

Year

2012

2011

2010

2009

2008

 

Quick ratio

0,32

0,20

0,31

0,23

0,25

 

Current ratio

1,23

0,89

1,12

1,14

1,17

 

 

 

Working capital/ balance total

0,18

-0,09

0,10

0,12

0,13

 

Equity / balance total

0,21

0,17

0,15

0,18

0,18

 

Equity / Fixed assets

7,43

0,65

2,69

2,24

2,37

 

Equity / liabilities

0,26

0,21

0,17

0,22

0,22

 

Balance total / liabilities

1,26

1,21

1,17

1,22

1,22

 

 

 

Working capital

274.973

-170.746

219.628

241.734

249.965

 

Equity

317.704

325.302

320.949

374.164

330.593

 

Mutation equity

-2,34

1,36

-14,22

13,18

12,07

 

Mutation short term liabilities

-22,27

-14,17

8,74

13,45

-5,13

 

Summary

The 2012 financial result structure is a postive working captial of 274.973 euro, which is in agreement with 18 % of the total assets of the company.

 

The working capital has increased with 261.04 % compared to previous year. The ratio, with respect to the total assets of the company has however, increased. The improvement between 2011 and 2012 has mainly been caused by an increase of the current assets.

 

The current ratio of the company in 2012 was 1.23. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.

 

The quick ratio in 2012 of the company was 0.32. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

The 2011 financial result structure is a negative working captial of -170.746 euro, which is in agreement with -9 % of the total assets of the company.

 

The working capital has diminished with -177.74 % compared to previous year. The ratio, with respect to the total assets of the company has however, declined. The deterioration between 2010 and 2011 has mainly been caused by an increase of the current liabilities.

 

The current ratio of the company in 2011 was 0.89. When the current ratio is below 1.5, the company may have problems meeting its short-term obligations.

 

The quick ratio in 2011 of the company was 0.2. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities.

 

Financial statement

 

 

 

 

Financial statement

 

Type of annual account               Corporate

 

Annual account                          Diamond Spectrum Enterprises B.V.

Nijverheidstraat 27

4143HN Leerdam

Netherlands

 

Registration number:                  332990410000

Balance sheet

 

Year

2012

2011

2010

2009

2008

End date

2012-12-31

2011-12-31

2010-12-31

2009-12-31

2008-12-31

Tangible fixed assets

42.731

89.770

119.321

166.694

139.564

Financial fixed assets

 

412.278

 

Fixed assets

42.731

502.048

119.321

166.694

139.564

Inventories                                                                              1.103.444          1.072.659          1.477.986          1.524.366                1.352.278

Total receivables

320.274

319.044

553.597

391.425

368.050

Liquid funds

66.222

600

9.076

584

5.765

Current assets

1.489.940

1.392.303

2.040.659

1.916.375

1.726.093

Total assets

1.532.671

1.894.351

2.159.980

2.083.069

1.865.657

 

Total equity

317.704

325.302

320.949

374.164

330.593

Long term liabilities

 

6.000

18.000

34.264

58.936

Short term liabilities

1.214.967

1.563.049

1.821.031

1.674.641

1.476.128

Total short and long term liabilities

1.214.967

1.569.049

1.839.031

1.708.905

1.535.064

Total liabilities

1.532.671

1.894.351

2.159.980

2.083.069

1.865.657

 

Summary

The total assets of the company decreased with -19.09 % between 2011 and 2012. This downturn is mainly retrievable in the fixed asset decrease of -91.49 %. Assets reduction is explained by a Net Worth decrease of -2.34 %, and an indebtedness reduction of -22.57 %.

 

In 2012 the assets of the company were 2.79 % composed of fixed assets and 97.21 % by current assets. The assets are being financed by an equity of 20.73 %, and total debt of 79.27 %.

 

The total assets of the company decreased with -12.3 % between 2010 and 2011. Despite the total assets decrease, non current assets grew with 320.75 %. The asset reduction is in contrast with the equity growth of 1.36 %. Due to this the total debt decreased with -14.68 %.

 

In 2011 the assets of the company were 26.5 % composed of fixed assets and 73.5 % by current assets. The assets are being financed by an equity of 17.17 %, and total debt of 82.83 %.

 

 

Analysis

 

Branch (SBI)                Manufacture of other non-metallic mineral products (23)

Region                         Zuid-Holland Oost

In the Netherlands 2478 of the companies are registered with the SBI code 23

In the region Zuid-Holland Oost 92 of the companies are registered with the SBI code 23

In the Netherlands 54 of the bankrupcties are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Zuid-Holland Oost is normal

Publications

 

Filings                                      17-05-2013: De jaarrekening over 2012 is gepubliceerd.

22-01-2013: De jaarrekening over 2011 is gepubliceerd.

11-11-2011: De jaarrekening over 2010 is gepubliceerd.

27-12-2010: De jaarrekening over 2009 is gepubliceerd.

29-09-2009: De jaarrekening over 2008 is gepubliceerd.

03-02-2009: De jaarrekening over 2007 is gepubliceerd.

 

Company structure

 

Relations                                   2

 

Diamond Spectrum Holding B.V.

Medusastraat 8

1363TW ALMERE

Netherlands

Registration number: 332379160000

 

Diamond Spectrum Enterprises B.V.

Nijverheidstraat 27

4143HN Leerdam

Netherlands

Registration number: 332990410000

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.90

UK Pound

1

Rs.102.74

Euro

1

Rs.85.16

 

INFORMATION DETAILS

 

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%)

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.