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Report Date : |
09.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANKUR DIAMONDS NV |
|
|
|
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Registered Office : |
Hoveniersstraat 30 2018 Antwerpen |
|
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|
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Country : |
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|
|
|
Financials (as on) : |
31.12.2012 |
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|
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Date of Incorporation : |
11.02.1997 |
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|
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Com. Reg. No.: |
459929854 |
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|
|
|
Legal Form : |
Public Limited Liability Company |
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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
|
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 : |
No complaints |
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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) |
|
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 459929854
Company name ANKUR DIAMONDS NV
Address HOVENIERSSTRAAT
30
2018 ANTWERPEN
Number of staff 2
Date of establishment 11/02/1997
Telephone number 0491280531
Fax number 032334638
The business was established over 17 years ago.
The business has 5 employees.
The business has been at the address for over 17 years.
Operating Result in the latest trading period decreased 43% on the previous trading period.
Pre-tax profits decreased by 212% compared to the previous trading period.
The business saw a decrease in their Cash Balance of 33% during the latest trading period.
Turnover in the latest trading period decreased 58% on the previous trading period
|
Date of latest accounts |
Turnover |
Profit Before Tax |
Net worth |
Working capital |
|
31/12/2012 |
10,459,694 |
-23,000 |
9,384,421 |
15,296,649 |
|
31/12/2011 |
25,290,668 |
20,440 |
9,407,915 |
15,428,944 |
|
31/12/2010 |
39,043,967 |
12,650 |
9,387,475 |
14,988,471 |
|
Date of
latest accounts |
Balance Total |
Number of Employees |
Capital |
Cashflow |
|
31/12/2012 |
27,997,012 |
2 |
3,351,520 |
-19,231 |
|
31/12/2011 |
25,846,533 |
4 |
3,351,520 |
49,636 |
|
31/12/2010 |
42,910,458 |
4 |
3,351,520 |
34,103 |
Past payments Payment
expectation days 105.23
Industry average payment Industry
average day sales
expectation days 172.58 outstanding 139.87
Day sales outstanding 669.48
Business number 459929854
Company name ANKUR DIAMONDS NV
Fax number 032334638
Date founded 11/02/1997
Company status active
Company type Public Limited
Liability Company (BE)
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
VATNumber BE.0459.929.854
Social Balance Sheet Total
During the reporting year
ended 31-12-2012
Full-time Employees 2
Part-time Employees 3
Total Fte Employees 4
Number of hours worked
Full-time Employees 4,087
Part-time Employees 2,266
Total
6,353
Personnel Charges
Full-time Employees 92,582
Part-time Employees 51,331
Total 143,913
During the previous reporting year
Average number employees in Fte 4
Actual working hours 6,407
Personnel Charges 137,338
Code -
Description FROM 5 TO 9
EMPLOYEES
JIC Code 218
Description Additional
national joint committee for the employees
category
JIC Code 324
Description Joint committee
for the industry and the trade in diamant
Category
Event Date 07/01/2013
Event Description
Event Details Inge Followed the illness of Mr. Kaushik
Bhansali by the Board
of Directors
decided and confirmed that no bezoldering is
awarded for the year 2013
Annual accounts 31-12-2012 % 31-12-2011 % 31-12-2010 Industry
average 2012 %
Weeks 52 52 52
Currency EUR EUR EUR
Turnover 10,459,694 -58.64 25,290,668 -35.23 39,043,967 46,373,024 -77.44
Total operating expenses 10,016,603 -59.13 24,508,952 -35.92 38,246,004 46,006,445 -78.23
Operating result 443,091 -43.32 781,716 -2.04 797,963 139,491 217
Total financial income 10,594 12818 82 -22.39 106 98,549 -89.25
Total financial expenses 476,684 -37.39 761,358 -3.06 785,419 205,697 131
Results on ordinary operations before
taxation -23,000 -212 20,440 61.58 12,650 24,121 -195
Taxation - - - - -5 20,777 -
Results on ordinary operations after
taxation -23,000 -212 20,440 61.52 12,655 9,375 -345
Extraordinary items 0 - 0 - 0 -3,964 0
Other appropriations 0.00 - 0 - 0.00 - -
Net result -23,000 -212 20,440 61.52 12,655 5,431 -523
other information
Gross Operating Margin - - - - - 56,748 -
Dividends - - - - - 172,177 -
Director remuneration 90,865 -8.36 99,156 6.27 93,303 112,544 -19.26
Employee costs 143,913 4.79 137,338 16.42 117,968 126,291 13.95
Wages and salary 115,188 2.09 112,831 17.96 95,655 105,826 8.85
Employee pension costs - - - - - 14,428 -
Social security contributions 28,209 17.26 24,056 9.32 22,005 26,744 5.48
Other employee costs 516 14.50 451 46.41 308 4,336 -88.09
Amortization and depreciation 3,769 -87.09 29,196 36.12 21,448 17,824 -78.85
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 1,566 -100
Tangible fixed assets 116,602 -24.48 154,389 -15.58 182,885 184,577 -36.83
Land & building 61,540 0.00 61,540 0.00 61,540 362,984 -83.05
Plant & machinery 2,414 -26.96 3,305 -21.22 4,195 22,566 -89.30
Furniture & Vehicles 1,653 -36.66 2,610 -76.09 10,916 17,273 5,325 -90.43
Leasing & Other Similar Rights - - 34,018 -33.33 51,027 142,153 32,369 -
Other tangible assets 50,994 -3.63 52,916 -4.15 55,206 7,566 573
Financial fixed assets 1,624 -86.03 11,624 0.00 11,624 305,813 -99
Total fixed assets 118,226 -28.79 166,013 -14.65 194,509 394,212 -70.01
Inventories 8,677,772 0.56 8,629,230 -35.22 13,321,780 3,093,438 180
Raw materials & consumables - - - - - 7,209,884 -
Work in progress 0 - 0 - 0 2,377 -100
Finished goods 8,677,772 0.56 8,629,230 -35.22 13,321,780 1,990,614 335
Other stocks 0 - 0 - 0 567,916 -100
Trade debtors 19,185,062 12.63 17,033,932 -40.13 28,450,792 4,226,975 353
Cash 5,693 -33.27 8,531 -99 936,146 226,786 -97.49
other amounts receivable 8,094 22.06 6,631 -8.30 7,231 208,481 -96.12
Miscellaneous current assets 2,166 -1.37 2,196 - 0 18,265 -88.14
Total current assets 27,878,786 8.56 25,680,520 -39.88 42,715,949 7,302,509 281
Total Assets 27,997,012 8.32 25,846,533 -39.77 42,910,458 7,656,638
1,451,744 265
Trade creditors 2,887,818 60.67 1,797,384 -83.62 10,971,838 3,136,128 -7.92
Short term group loans - - - - - - -
Financial
Debt9,4 72,335 13.36
8,355,679 -49.54 16,558,544
4,271,981 121
189,481
Current portion of long term debt - - 19,180 -34.11 29,110 110,204 15,373 -
Amounts Payable for Taxes,
Remuneration & Social Security 16,518 11.32 18,627 17.63 15,835 9,740 - 51.36
Miscellaneous current liabilities 205,467 238 60,706 -60.10 152,150 -31.04 --
Total current liabilities 12,582,137 22.73 10,251,576 -63.03 27,727,478 5,443,493 131
LONG TERM DEBTS AND LIABILITIES
Long term group loans - - - - - - --
Other long term loans 6,030,454 -2.53 6,187,042 6.76 5,795,505 441 --
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 6,030,454 -2.53 6,187,042 6.76 5,795,505 560,590 975
SHAREHOLDERS EQUITY
Issued share capital 3,351,520 0.00 3,351,520 0.00 3,351,520 967,312 246
Share premium account - - - - - 109,362 -
Reserves 6,032,901 -0.39 6,056,395 0.34 6,035,955 649,831 828
Revaluation reserve - - - - - 939,206 -
Total shareholders equity 9,384,421 -0.25 9,407,915 0.22 9,387,475 1,646,538 469
Working capital 15,296,649 -0.86 15,428,944 2.94 14,988,471 1,859,016 722
Cashflow -19,231 -138 49,636 45.55 34,103 20,168 -195
Net worth 9,384,421 -0.25 9,407,915 0.22 9,387,475 1,643,323 471
Annual accounts 31-12-2012 change(%) 31-12-2011 change(%) 31-12-2010 Industry
average2012
%
TRADING
PERFORMANCE
|
Profit
Before Tax |
-0.22 |
-375 |
0.08 |
166 |
0.03 |
-29,00 |
0.76 |
|
Return
on capital employed |
-0.15 |
-215 |
0.13 |
62.50 |
0.08 |
29,00 |
-100 |
|
Return
on total assets employed |
-0.08 |
-200 |
0.08 |
166 |
0.03 |
-199,00 |
0.04 |
|
Return
on net assets employed |
-0.25 |
-213 |
0.22 |
69.23 |
0.13 |
19,00 |
-101 |
|
Sales
/ net working capital |
0.68 |
-58.54 |
1.64 |
-36.92 |
2.60 |
44,00 |
-99 |
|
Stock
turnover ratio |
82.96 |
143 |
34.12 |
0 |
34.12 |
115,00 |
-27.86 |
|
Debtor
days |
669.48 |
172 |
245.84 |
-7.57 |
265.97 |
143,00 |
368 |
|
Creditor
days |
105.23 |
293 |
26.77 |
-74.43 |
104.71 |
124,00 |
-15.14 |
|
|
|
short
term stability |
|
|
|
|
|
|
Current
ratio |
2.22 |
-11.55 |
2.51 |
62.99 |
1.54 |
6,00 |
-75.33 |
|
Liquidity
ratio / acid ratio |
1.53 |
-7.83 |
1.66 |
56.60 |
1.06 |
4,00 |
-61.75 |
|
Current
debt ratio |
1.34 |
22.94 |
1.09 |
-63.05 |
2.95 |
9,00 |
-85.11 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
|
|
long
term stability |
|
|
|
|
|
|
Gearing |
165.20 |
6.73 |
154.78 |
-35.09 |
238.44 |
356,00 |
-53.60 |
|
Equity
in percentage |
33.52 |
-7.91 |
36.40 |
66.36 |
21.88 |
-3.179,00 |
1.05 |
|
Total
debt ratio |
1.98 |
13.14 |
1.75 |
-50.98 |
3.57 |
10,00 |
-80.20 |
Activity code 46761
Activity description Wholesale of
diamonds and other precious stones
Payment expectation days 105.23
Day sales outstanding
669.48
Activity code
46761
Activity description Wholesale of
diamonds and other precious stones
Industry average payment
expectation days 172.58
Industry
average day sales
outstanding
139.87
Payment expectations
Company result 105.23
Lower 134.13
Median 84.97
Upper 45.33
Company result 669.48
Lower 111.41
Median 58.49
Upper 28.58
Group Structure
No group structure for this company.
Minority Interests
No minority interests found
SHAREHOLDER NAME
Forename Kaushik
Middle name -
Surname Bhansali
SHAREHOLDER DETAILS
Start date 04/02/1997
End date -
Percentage owned -
SHAREHOLDER ADDRESS
Street name Eekhoornlaan
House number 18
Minor town Wilrijk
Postal town Antwerpen
Post code 2610
Country Belgium
Business number 459929854
Bankruptcy details
There is no bankruptcy data against this company
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.
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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.
-
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.
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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.59.80 |
|
|
1 |
Rs.102.42 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
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.