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Report Date : |
08.07.2014 |
IDENTIFICATION DETAILS
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Name : |
NISHANT GEMS BVBA |
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Registered Office : |
Hoveniersstraat, 30, 2018 Antwerpen |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
30.03.2005 |
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Com. Reg. No.: |
873165789 |
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Legal Form : |
Private Limited Company
(BL/LX) |
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Line of Business : |
Wholesale of diamonds and other precious stones |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
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Belgium |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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 873165789
Company name NISHANT GEMS BVBA
Address HOVENIERSSTRAAT
30
2018
ANTWERPEN
Number of staff 0
Date of establishment 30/03/2005
Telephone number 032561641
The business was established
over 9 years ago.
No employees are
recorded for this business.
The business has been
at the address for over 2 years.
Net Worth increased
by 34% during the latest trading period.
The business saw an increase in their
Cash Balance of 25% during the latest trading period.
Accounts
Date of latest accounts Profit
Before Tax Net worth Working capital
31/12/2012 32,914
91,034 43,767
31/12/2011 31,260
67,854 58,195
31/12/2010 17,206
46,104 34,616
Accounts
Date of latest accounts Balance
Total Number of Employees Capital Cashflow
31/12/2012 1,585,013
0 18,600 27,442
31/12/2011 1,867,217
0 18,600 28,390
31/12/2010 1,347,395
0 18,600 18,923
Past
payments Payment
expectation days -
Industry
average payment
expectation
days 163.67
Day sales outstanding –
Industry
average day sales
outstanding 124.99
Court
action type no
Bankruptcy
details
Protested bills
Bill amount -
NSSO
details
Date of summons –
Business number 873165789 Company name NISHANT GEMS BVBA
Fax number Date
founded 30/03/2005
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
Belgian Bullettin of
Acts
Publications moniteur belge
VAT Number BE.0873.165.789 Check
VAT number
Industry
Annual accounts 31-12-2012 % 31-12-2011 %
31-12-2010 average %
2012
Weeks 52
52 52
Currency EUR
EUR EUR
Turnover - - - - - 46,373,024 -
Total operating expenses - - - - - 46,006,445 -
Operating result 41,252 11.72 36,926 83.24 20,151 139,491 -70.43
Total financial income 73 942 7 17400 0 98,549 -99
Total financial expenses 8,412 48.28 5,673 92.65 2,945 205,697 -95.91
Results on ordinary operations before
taxation 32,914 5.29 31,260 81.68
17,206 24,121
36.45
Taxation 10,595 11.41 9,510 106 4,600 20,777 -49.01
Results on ordinary
operations after
taxation 22,319 2.62 21,750 72.53 12,606 9,375 138
Extraordinary items 861 - 0 - 0 -3,964 21.71
Other appropriations 0.00 - 0 - 0.00 - -
Net result 23,180 6.57 21,750 72.53 12,606 5,431 326
other information
Gross Operating Margin 48,316 7.16 45,089 63.13 27,639 56,748 -14.86
Dividends - - - - - 172,177 -
Director remuneration - - - - - 112,544 -
Employee costs 20 - - - - 126,291 -99
Wages and salary - - - - - 105,826 -
Employee pension costs - - - - - 14,428 -
Social security contributions - - - - - 26,744 -
Other employee costs 20 - 0 - 0 4,336 -99
Amortization and depreciation 4,263 -35.80 6,640 5.13 6,316 17,824 -76.08
Industry
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 1,566 -100
Tangible fixed assets 63,773 560 9,659 -15.92 11,488 184,577 -65.45
Land & building - - - - - 362,984 -
Plant & machinery 4,781 -5.38 5,053 128 2,214 22,566 -78.81
Furniture & Vehicles 58,992 1180 4,607 -50.32 9,274 17,273 5,325 241
Leasing & Other Similar Rights - - - - - 142,153 32,369 -
Other tangible assets 0 0 -1 - 0 7,566 -100
Financial fixed assets - - - - - 305,813 -
Total fixed assets 63,773 560 9,659 -15.92 11,488 394,212 -83.82
Inventories 435,558 74.19 250,042 -31.54 365,241 3,093,438 -85.92
Raw materials & consumables - - - - - 7,209,884 -
Work in progress 0 - 0 - 0 2,377 -100
Finished goods 0 - 0 - 0 1,990,614 -100
Other stocks 435,558 74.19 250,042 -31.54 365,241 567,916 -23.31
Trade debtors 996,476 -35.19 1,537,526 72.10 893,373 4,226,975 -76.43
Cash 50,735 25.13 40,546 -34.12 61,543 226,786 -77.63
other amounts receivable 36,079 33.43 27,039 99 13,543 208,481 -82.69
Miscellaneous current assets 2,393 -0.50 2,405 9.01 2,206 18,265 -86.90
Total current assets 1,521,240 -18.11 1,857,558 39.05 1,335,907 7,302,509 -79.17
Total Assets 1,585,013 -15.11 1,867,217 38.58 1,347,395 7,656,638 -79.30
1,451,744
Other liabilities
Trade creditors 1,069,004 -21.92 1,369,080 54.42 886,574 3,136,128 -65.91
Short term group loans - - - - - - -
Financial debts 584 -93.14 8,506 43.44 5,930 4,271,981 -99
189,481
Current portion of long term debt 17,107 - - - - 110,204 15,373 -84.48
Amounts Payable for Taxes,
Remuneration & Social Security 11,652 16.12 10,034 -3.38 10,385 9,740 - -65.69
Miscellaneous current liabilities 379,127 -7.92 411,743 3.35 398,401 27.24 --
Total current liabilities 1,477,473 -17.89 1,799,363 38.28 1,301,290 5,443,493 -72.86
Long term debts and liabilities
Long term group loans - - - - - - --
Other long term loans 16,506 - - - - -98.52 --
Deffered taxes - - - - - 37,626 26,358 -
Provisions for Liabilities & Charges 0 - 0 - 0 3,155 0 -100
Other long term liabilities 0 - 0 - 0 127,553 -100
Total long term debts 16,506 - 0 - 0 560,590 -97.06
shareholders equity
Issued share capital 18,600 0 18,600 0 18,600 967,312 -98.08
Share premium account - - - - - 109,362 -
Reserves 72,434 47.06 49,254 79.08 27,504 649,831 -88.85
Revaluation reserve - - - - - 939,206 -
Total shareholders equity 91,034 34.16 67,854 47.18 46,104 1,646,538 -94.47
Working capital 43,767 -24.79 58,195 68.11 34,616 1,859,016 -97.65
Cashflow 27,442 -3.34 28,390 50.03 18,923 20,168 36.07
Net worth 91,034 34.16 67,854 47.18 46,104 1,643,323 -94.46
Change Change
Industry
Annual accounts 31-12-2012
% 31-12-2011
% 31-12-2010 average %
2012
Trading performance
Profit Before Tax - - - - - -29,00 -
Return on capital employed 30.61 -33.56 46.07 23.45 37.32 29,00 5.55
Return on total assets
Employed 2.08 24.55 1.67 30.47 1.28 -199,00 1.05
Return on net assets employed 36.16 -21.51 46.07 23.45 37.32 19,00 90.32
Sales / net working capital - - - - - 44,00 -
Stock turnover ratio - - - - - 115,00 -
Debtor days - - - - - 143,00 -
Creditor days - - - - - 124,00 -
short term stability
Current ratio 1.03 0 1.03 0 1.03 6,00 -88.56
Liquidity ratio / acid ratio 0.73 -17.98 0.89 18.67 0.75 4,00 -81.75
Current debt ratio 16.23 -38.80 26.52 -6.06 28.23 9,00 80.33
Liquidity ratio reprocessed - - - - - - -
long term stability
Gearing 37.57 199 12.54 -2.49 12.86 356,00 -89.45
Equity in percentage 5.74 58.13 3.63 6.14 3.42 -3.179,00 0.18
Total debt ratio 16.41 -38.12 26.52 -6.06 28.23 10,00 64.10
Activity code 46761
Activity description Wholesale of
diamonds and other precious stones
Industry average payment
expectation days 163.67
Industry average day sales
outstanding 124.99
Payment expectations
Company result -
Lower 133.37
Median 84.60
Upper 45.33
Day sales outstanding
Company result -
Lower 108.77
Median 57.83
Upper 28
No group structure for this company.
No minority shareholders found
No minority interests found
Business number 873165789
Name of defendant -
Legal form of defendant -
Date of summons -
Labour court -
There is no bankruptcy data against
this company
Bankruptcy Data
there is no data for this company
DIAMOND INDUSTRY – INDIA
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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.
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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.
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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.
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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.
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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.
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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.
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Excerpts from Times of India dated 30th October 2010 is as
under –
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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.
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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.59.95 |
|
|
1 |
Rs.102.78 |
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Euro |
1 |
Rs.81.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
NNA |
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 |
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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.