|
Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHINTAMANI BVBA |
|
|
|
|
Registered Office : |
Schupstraat 9-/11 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.04.2005 |
|
|
|
|
Com. Reg. No.: |
873540329 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
|
|
|
|
No. of Employees |
05 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 873540329
Company name CHINTAMANI BVBA
Address SCHUPSTRAAT 9-/11
2018 ANTWERPEN
Number of staff 5
Date of establishment 28/04/2005
Telephone number 032334474
Fax number 032334474
The business was
established over 9 years ago. The business has 5 employees.
The business has been
at the address for over 3 months.
The business has been
at the address for less than 6 months.
Operating Result in the latest trading
period decreased 31% on the previous trading period.
The business saw a
decrease in their Cash Balance of 95% during the latest trading period.
|
Date
of latest accounts |
Turnover |
Profit
Before Tax |
Net
worth |
Working
capital |
|
31/12/2012 |
58,290,722 |
63,681 |
2,977,889 |
8,135,470 |
|
31/12/2011 |
69,084,436 |
69,902 |
2,905,678 |
8,216,458 |
|
31/12/2010 |
70,218,568 |
81,035 |
2,843,486 |
6,735,228 |
|
Date of latest accounts |
Balance
Total |
Number
of Employees |
Capital |
Cashflow |
|
31/12/2012 |
18,132,980 |
5 |
2,597,892 |
85,644 |
|
31/12/2011 |
17,564,159 |
5 |
2,597,892 |
83,948 |
|
31/12/2010 |
28,900,251 |
4 |
2,597,892 |
97,466 |
Business number 873540329 Company name CHINTAMANI BVBA
Fax number 032334474 Date founded 28/04/2005
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
Currency Euro
(€) Date of latest accounts 31/12/2012
Activity code 46761 Liable for VAT yes
Past payments Payment
expectation days 25.27
Industry
average payment 164.62 Industry
average day sales 125.64
expectation
days outstanding
Day sales outstanding
90.38
Social Balance Sheet Total
During the reporting year
ended 31-12-2012
Full-time Employees 5
Part-time Employees -
Total Fte Employees 5
Number of hours worked
Full-time Employees 8,816
Part-time Employees -
Total 8,816
Personnel Charges
Full-time Employees 159,584
Part-time Employees -
Total 159,584
Benefits In Addition To Wages -
During the previous reporting year
Average number employees in Fte 5
Actual working hours 8,405
Personnel Charges 160,246
Gender and Education
Level
Men Full-Time Part-Time Total Fte
Primary education 2 - 2
Secondairy education 1 - 1
Higher education (non
university) -
Higher education
(university) -
- -
- -
Women Full-Time Part-Time Total
Fte
Primary education 1 - 1
Secondairy education 1 - 1
Higher education (non
university) -
Higher education
(university) -
- -
- -
Working Category Full-Time Part-Time Total
Fte
Management - - -
White collar worker 3 - 3
Blue collar worker 2 - 2
Other - - -
Code -
Description FROM 5 TO 9
EMPLOYEES
Event Date 14/12/2010
Event Description
Event Details De vergoeding van
de inbreng in natura bestaat uit 687 aandelen.
Annual accounts 31-12-2012 % 31-12-2011 % 31-12-2010 Average
Indusry 2012 %
Weeks 52 52 52
Currency EUR EUR EUR
Turnover 58,290,722 -15.62 69,084,436 -1.62 70,218,568 46,485,458 25.40
Total operating expenses 57,919,793 -15.50 68,545,241 -1.59 69,652,830 46,114,879 25.60
Operating result 370,929 -31.21 539,195 -4.69 565,738 140,970 163
Total financial income
1,857 -61.68 4,846 23.00 3,940 98,884 -98.12
Total financial expenses 309,105 -34.81 474,139 -2.97 488,642 206,312 49.82
Results on ordinary operations before 63.681 8.90 69,902 13.74 81,035 25,266 152
taxation
Taxation 3,883 8.48 3,579 -76.29 15,094 20,807 -81.34
Results on ordinary operations after 59.798 9.84 66,322 0.58 65,941 10,475 470
Taxation
Extraordinary items 12,413 300 -4,130 - 0 -3,969 312
Other appropriations 0.00 - 0.00 - 0.00 - -
Net result 72,210 16.11 62,193 -5.68 65,941 6,525 1006
Gross Operating Margin - - - - - 56,835 -
Dividends - - - - - 172,177 -
Director remuneration - - - - - 112,544 -
Employee costs 159,584 -0.41 160,246 67.00 95,955 125,946 26.71
Wages and salary 129,189 -4.15 134,779 70.80 78,911 105,550 22.40
Employee pension costs - - - - - 14,428 -
Social security contributions 27,612 13.17 24,398 53.00 15,947 26,656 3.59
Other employee costs 2,782 160 1,069 -2.54 1,097 4,344 -35.96
Amortization and depreciation 13,434 -38.25 21,755 -30.99 31,525 17,811 -24.58
|
|
Annual accounts |
31-12-2012 % |
31-12-2011 |
% 31-12-2010 |
average 2012 |
% |
Weeks 52 52 52
Currency EUR EUR EUR
Intangible fixed assets 0 - 0 - 0 1,571 -100
Tangible fixed assets 43,854 14.69 38,237 -28.47 53,453 184,117 -76.18
Land & building - - - - - 362,988 -
Plant & machinery 22,250 84.23 12,077 -32.54 17,904 22,615 -1.61
Furniture & Vehicles 21,604 -17.41 26,159 -26.42 35,550 17,295 5,364 24.91
Leasing & Other Similar Rights - - - - - 142,153 32,369 -
Other tangible assets 0 - 0 - 0 7,588 -100
Financial fixed assets 8,192 2.50 7,992 3.89 7,693 306,282 -97.33
Total fixed assets 52,046 12.58 46,229 -24.40 61,146 394,259 -86.80
Inventories 3,509,121 45.49 2,411,992 -72.41 8,743,558 3,102,024 13.12
Raw materials & consumables - - - - - 7,209,884 -
Work in progress 0 - 0 - 0 2,384 -100
Finished goods 3,509,121 45.49 2,411,992 -72.41 8,743,558 1,994,651 75.93
Other stocks 0 - 0 - 0 569,553 -100
Trade debtors 14,434,256 3.39 13,961,108 -30.14 19,985,648 4,236,087 240
Cash 50,853 -95.30 1,082,947 1272 78,902 227,241 -77.62
other amounts receivable 51,448 28.89 39,916 37.69 28,989 209,025 -75.39
Miscellaneous current assets 35,255 60.49 21,967 994 2,008 18,235 93.34
Total current assets 18,080,934 3.21 17,517,930 -39.26 28,839,105 7,321,447 146
Total Assets 18,132,980 3.24 17,564,159 -39.22 28,900,251 7,675,911 136
1,453,566
|
Profit
Before Tax |
0.11 |
10.0 |
0.10 |
-16.67 |
0.12 |
-29,00 |
0.38 |
|
Return
on capital employed |
0.78 |
-8.24 |
0.85 |
-28.57 |
1.19 |
29,00 |
-97.31 |
|
Return
on total assets employed |
0.35 |
-12.50 |
0.40 |
42.86 |
0.28 |
-200,00 |
0.18 |
|
Return
on net assets employed |
2.14 |
-11.20 |
2.41 |
-15.44 |
2.85 |
19,00 |
-88.74 |
|
Sales
/ net working capital |
7.17 |
-14.74 |
8.41 |
-19.37 |
10.43 |
44,00 |
-99 |
|
Stock
turnover ratio |
6.02 |
72.49 |
3.49 |
-71.97 |
12.45 |
116,00 |
-94.81 |
|
Debtor
days |
90.38 |
22.53 |
73.76 |
-29.00 |
103.89 |
143,00 |
-36.80 |
|
Creditor
days |
25.27 |
70.51 |
14.82 |
-82.29 |
83.69 |
125,00 |
-79.78 |
|
|
|
short term stability |
|
|
|
|
|
|
Current
ratio |
1.82 |
-3.19 |
1.88 |
44.62 |
1.30 |
6,00 |
-79.78 |
|
Liquidity
ratio / acid ratio |
1.47 |
-9.26 |
1.62 |
78.02 |
0.91 |
4,00 |
-63.25 |
|
Current
debt ratio |
3.34 |
4.38 |
3.20 |
-58.82 |
7.77 |
9,00 |
-62.89 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
|
|
long term stability |
|
|
|
|
|
|
Gearing |
372.29 |
-8.59 |
407.28 |
15.38 |
352.98 |
357,00 |
4.28 |
|
Equity
in percentage |
16.42 |
-0.73 |
16.54 |
68.09 |
9.84 |
-3.189,00 |
0.51 |
|
Total
debt ratio |
5.09 |
0.99 |
5.04 |
-44.98 |
9.16 |
11,00 |
-53.73 |
Activity code 46761
Activity description Wholesale of
diamonds and other precious stones
Total number of Invoices available 1
Total number of Invoices paid within or up to 30 days after the due date 0
Total number of Invoices paid more than 30 days after the due date 1
Total number of Invoices currently outstanding where the due date has not yet been reached 0
Total number of Invoices currently outstanding beyond the due date 0
Payment expectation days 25.27
Day sales outstanding 90.38
Activity code 46761
Activity description Wholesale of
diamonds and other precious stones
Industry average payment
expectation days 164.62
Industry average day sales
outstanding 125.64
Company result 25.27
Lower 134.13
Median 84.93
Upper 45.40
Company result 90.38
Lower 110.17
Median 59.01
Upper
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Business number 873540329
Name of defendant -
Legal form of defendant -
Date of summons
-
Labour court –
There is no bankruptcy data against this company
Bankruptcy Data
court 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.59.97 |
|
|
1 |
Rs.102.90 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.