|
Report Date : |
07.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
K. VIJAY BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat12 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.03.1997 |
|
|
|
|
Com. Reg. No.: |
460205117 |
|
|
|
|
Legal Form : |
Private
Limited Company (BL/LX) |
|
|
|
|
Line of Business : |
Wholesale
of diamonds and other precious stones |
|
|
|
|
No. of Employees |
Not Available |
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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 460205117
Company name K. VIJAY BVBA
Address HOVENIERSSTRAAT
12
2018 ANTWERPEN
Number of staff 0
Date of establishment 06/03/1997
Telephone number 032323248
Fax number 032323248
|
The business was
established over 17 years ago. |
|
|
No employees are
recorded for this business. |
|
|
The business has
been at the address for over 4 years. |
|
|
Operating Result in
the latest trading period increased 75% on the previous trading period. |
|
|
A 27% growth in Total
Assets occurred during the latest trading period. |
|
|
The business saw a
decrease in their Cash Balance of 94% during the latest trading period. |
|
|
Turnover in the
latest trading period increased 40% on the previous trading period. |
|
|
DATE OF LATEST
ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2012 |
54,501,985 |
158,883 |
2,019,739 |
3,147,885 |
|
31/12/2011 |
38,720,113 |
152,067 |
1,896,842 |
2,676,998 |
|
31/12/2010 |
26,999,084 |
141,413 |
1,335,671 |
2,080,435 |
|
DATE OF LATEST
ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
13,532,440 |
0 |
1,600,000 |
126,092 |
|
31/12/2011 |
10,622,362 |
0 |
1,600,000 |
116,526 |
|
31/12/2010 |
6,491,677 |
0 |
1,152,970 |
107,716 |
|
Profitability |
|
||
|
Liquidity |
|
||
|
Net
worth |
|
||
|
Payment
expectations |
|
|
|
|
Past
payments |
|
Payment
expectation days |
26.47 |
|
Industry
average payment |
164.15 |
Industry
average day sales |
119.90 |
|
expectation
days |
|
outstanding |
|
|
Day
sales outstanding |
70.71 |
||
|
Court
data summary |
|||
BANKRUPTCY
DETAILS
|
Court
action type |
no |
|
PROTESTED
BILLS |
|
|
Bill
amount |
- |
|
NSSO
DETAILS |
|
|
Date
of summons |
- |
|
Business number |
460205117 |
Company name |
K. VIJAY BVBA |
|
Fax number |
032323248 |
Date founded |
06/03/1997 |
|
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 |
VAT Number |
BE.0460.205.117 |
|
Belgian Bullettin of Acts Publications |
moniteur belge |
|
|
|
Contractor details |
|
|
Check Article 30 Bis |
|
Registered contractor
number |
- |
|
|
|
Contractor description |
- |
||
|
Joint
Industrial Committee (JIC) |
|
|
Significant
Events |
|
|
Event
Date |
18/06/2012 |
|
Event
Description |
resignation-appointment
of director(s) |
|
Event
Details |
Commentaar
12-03-2012: De benoeming van Donda Kishor Lavjibai als zaakvoerder werd
bevestigd. |
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 |
54,501,985 |
40.76 |
38,720,113 |
43.41 |
26,999,084 |
46,537,630 |
17.11 |
|
|
|
Total operating expenses |
54,020,781 |
40.51 |
38,446,598 |
43.77 |
26,741,278 |
46,145,645 |
17.07 |
|
|
Operating result |
481,204 |
75.93 |
273,515 |
6.09 |
257,806 |
147,590 |
226 |
|
|
Total financial income |
23,501 |
78.95 |
111,624 |
281 |
29,241 |
97,743 |
75.96 |
|
Total financial expenses |
345,823 |
48.38 |
233,072 |
60.04 |
145,634 |
204,361 |
69.22 |
|
|
|
Results on ordinary operations before taxation |
158,883 |
4.48 |
152,067 |
7.53 |
141,413 |
32,848 |
383 |
|
|
Taxation |
35,986 |
-2.47 |
36,896 |
4.05 |
35,459 |
20,918 |
72.03 |
|
|
Results on ordinary operations after taxation |
122,897 |
6.71 |
115,171 |
8.70 |
105,954 |
18,016 |
582 |
|
|
Extraordinary items |
0 |
- |
0 |
- |
0 |
-4,395 |
0 |
|
|
Other appropriations |
0.00 |
- |
0 |
- |
0 |
- |
- |
|
|
Net result |
122,897 |
6.71 |
115,171 |
8.70 |
105,954 |
13,640 |
801 |
|
|
OTHER INFORMATION |
|||||||
|
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
|
Director remuneration |
- |
- |
- |
- |
- |
114,302 |
- |
|
|
Employee costs |
- |
- |
- |
- |
- |
125,948 |
- |
|
|
Wages and salary |
- |
- |
- |
- |
- |
105,678 |
- |
|
|
Employee pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
|
Social security
contributions |
- |
- |
- |
- |
- |
26,585 |
- |
|
|
Other employee costs |
0 |
- |
0 |
- |
0 |
4,360 |
-100 |
|
|
Amortization and depreciation |
3,195 |
135 |
1,355 |
23.10 |
1,762 |
17,895 |
82.15 |
balance sheet
|
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-122010 |
Industry average 2012 |
% |
|
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
1,553 |
-100 |
|
|
Tangible fixed assets |
17,565 |
215 |
5,561 |
11.18 |
5,002 |
185,189 |
90.51 |
|
|
Land & building |
- |
- |
- |
- |
- |
362,988 |
- |
|
|
Plant & machinery |
17,565 |
215 |
5,561 |
11.18 |
5,002 |
22,664 |
22.50 |
|
|
Furniture & Vehicles |
- |
- |
- |
- |
- |
17,327 5,364 |
- |
|
|
Leasing & Other
Similar Rights |
- |
- |
- |
- |
- |
142,153 32,369 |
- |
|
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
7,634 |
-100 |
|
|
Financial fixed assets |
248 |
-0.04 |
248 |
0 |
248 |
307,703 |
-99 |
|
|
Total fixed assets |
17,813 |
206 |
5,809 |
10.65 |
5,250 |
396,856 |
95.51 |
|
|
Inventories |
2,945,999 |
88.94 |
1,559,231 |
12.54 |
1,782,862 |
3,093,934 |
-4.78 |
|
|
Raw materials &
consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,399 |
-100 |
|
|
Finished goods |
2,945,999 |
88.94 |
1,559,231 |
12.54 |
1,782,862 |
1,982,203 |
48.62 |
|
|
Other stocks |
0 |
- |
0 |
- |
0 |
571,885 |
-100 |
|
|
Trade debtors |
10,558,551 |
18.24 |
8,930,012 |
326 |
2,091,359 |
4,167,122 |
153 |
|
|
Cash |
6,440 |
94.70 |
121,563 |
1821 |
6,327 |
226,208 |
97.15 |
|
|
other amounts receivable |
1,990 |
55.30 |
4,453 |
-99 |
2,604,678 |
185,906 |
98.93 |
|
|
Miscellaneous current assets |
1,646 |
27.17 |
1,294 |
7.74 |
1,201 |
18,028 |
90.87 |
|
|
Total current assets |
13,514,627 |
27.30 |
10,616,553 |
63.67 |
6,486,427 |
7,215,183 |
87.31 |
|
|
Total Assets |
13,532,440 |
27.40 |
10,622,362 |
63.63 |
6,491,677 |
7,579,247 1,446,080 |
78.55 |
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
Trade creditors |
3,916,978 |
3.12 |
3,798,554 |
432 |
713,886 |
3,040,360 |
28.83 |
|
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
|
Financial debts |
6,352,383 |
56.37 |
4,062,299 |
12.93 |
3,597,114 |
4,261,350 189,666 |
49.07 |
|
|
Current portion of long term debt |
- |
- |
- |
- |
- |
110,204 15,373 |
- |
|
|
Amounts Payable for Taxes, Remuneration & Social
Security |
24,935 |
41.52 |
42,636 |
113 |
20,000 |
9,709 - |
26.57 |
|
|
Miscellaneous current liabilities |
72,446 |
100 |
36,066 |
51.91 |
74,992 |
-75.62 |
- - |
|
|
Total current liabilities |
10,366,742 |
30.57 |
7,939,555 |
80.20 |
4,405,992 |
5,342,128 |
94.06 |
|
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
|
Other long term loans |
1,145,960 |
45.80 |
785,965 |
4.79 |
750,014 |
4.15 |
- - |
|
|
Deffered taxes |
- |
- |
- |
- |
- |
37,626 26,358 |
- |
|
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,184 0 |
-100 |
|
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
128,672 |
-100 |
|
|
Total long term debts |
1,145,960 |
45.80 |
785,965 |
4.79 |
750,014 |
559,214 |
104 |
|
|
SHAREHOLDERS EQUITY |
|||||||
|
|
Issued share capital |
1,600,000 |
0 |
1,600,000 |
38.77 |
1,152,970 |
943,974 |
69.50 |
|
|
Share premium account |
2,020 |
0 |
2,020 |
0 |
2,020 |
109,362 |
-98.15 |
|
|
Reserves |
417,719 |
41.69 |
294,822 |
63.17 |
180,681 |
690,619 |
39.52 |
|
|
Revaluation
reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
|
Total
shareholders equity |
2,019,739 |
6.48 |
1,896,842 |
42.01 |
1,335,671 |
1,664,274 |
21.36 |
|
|
Working
capital |
3,147,885 |
17.59 |
2,676,998 |
28.67 |
2,080,435 |
1,873,055 |
68.06 |
|
|
Cashflow |
126,092 |
8.21 |
116,526 |
8.18 |
107,716 |
28,425 |
343 |
|
|
Net
worth |
2,019,739 |
6.48 |
1,896,842 |
42.01 |
1,335,671 |
1,661,040 |
21.59 |
ratio analysis
|
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry
average 2012 |
% |
|
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
Profit Before Tax |
0.29 |
-25.64 |
0.39 |
-25.00 |
0.52 |
-25,00 |
1.16 |
|
|
Return on capital employed |
5.02 |
-11.46 |
5.67 |
-16.37 |
6.78 |
29,00 |
-82.69 |
|
|
Return on total assets employed |
1.17 |
-18.18 |
1.43 |
-34.40 |
2.18 |
-201,00 |
0.58 |
|
|
Return on net assets employed |
7.87 |
-1.87 |
8.02 |
-24.27 |
10.59 |
19,00 |
-58.58 |
|
|
Sales / net working capital |
17.31 |
19.71 |
14.46 |
11.40 |
12.98 |
45,00 |
-99 |
|
|
Stock turnover ratio |
5.41 |
34.24 |
4.03 |
-38.94 |
6.60 |
111,00 |
-95.13 |
|
|
Debtor days |
70.71 |
-16.00 |
84.18 |
197 |
28.27 |
133,00 |
-46.83 |
|
|
Creditor days |
26.47 |
-26.59 |
36.06 |
270 |
9.74 |
122,00 |
-78.30 |
|
SHORT TERM STABILITY |
||||||||
|
|
Current ratio |
1.30 |
-2.99 |
1.34 |
-8.84 |
1.47 |
7,00 |
-85.56 |
|
|
Liquidity ratio / acid ratio |
1.02 |
-10.53 |
1.14 |
6.54 |
1.07 |
4,00 |
-74.50 |
|
|
Current debt ratio |
5.13 |
22.43 |
4.19 |
26.97 |
3.30 |
9,00 |
-43.00 |
|
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
|
LONG TERM STABILITY |
|||||||
|
|
Gearing |
371.25 |
45.25 |
255.60 |
-21.47 |
325.46 |
360,00 |
3.12 |
|
|
Equity in percentage |
14.93 |
-16.41 |
17.86 |
-13.22 |
20.58 |
-3.211,00 |
0.46 |
|
|
Total debt ratio |
5.70 |
23.91 |
4.60 |
19.17 |
3.86 |
10,00 |
-43.00 |
Industry comparison
|
Activity
code |
46761 |
|
Activity
description |
Wholesale of
diamonds and other precious stones |
|
industry average credit rating |
64.48 |
|
Industry
average credit limit |
140177.31 |
Suspension of payments / moratorium history
|
Amount |
- |
|
Details |
- |
|
Payment
expectations |
|
|
Payment
expectation days |
26.47 |
|
Day
sales outstanding |
70.71 |
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesale of
diamonds and other precious stones |
|
Industry
average payment expectation days |
164.15 |
|
Industry average
day sales outstanding |
119.90 |
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
26.47 |
|
Lower |
134.34 |
|
Median |
84.60 |
|
Upper |
45.29 |
|
Day sales outstanding |
|
|
Company result |
70.71 |
|
Lower |
112.48 |
|
Median |
58.56 |
|
Upper |
28.09 |
Group Structure
group structure for this company.
Minority Shareholders
No minority shareholders found
|
SHAREHOLDER
NAME |
|||
|
Forename |
Dhansukhbhai |
Middle
name |
- |
|
Surname |
Donda |
|
|
|
SHAREHOLDER
DETAILS |
|||
|
Start
date |
06/03/1997 |
End
date |
- |
|
Percentage
owned |
46.21% |
|
|
|
SHAREHOLDER
ADDRESS |
|||
|
Street
name |
Ground Floor 20
Nepean Sea Road |
House
number |
- |
|
Minor
town |
- |
Postal
town |
- |
|
Post
code |
- |
Country |
India |
|
|
|||
|
|
|||
|
SHAREHOLDER
NAME |
|||
|
Forename |
Krishna |
Middle
name |
- |
|
Surname |
Donda |
|
|
|
SHAREHOLDER
DETAILS |
|||
|
Start
date |
04/02/2011(estimated) |
End
date |
- |
|
Percentage
owned |
50.89% |
|
|
|
SHAREHOLDER
ADDRESS |
|||
|
Street
name |
- |
House
number |
- |
|
Minor
town |
- |
Postal
town |
- |
|
Post
code |
- |
Country |
- |
Curt data
Bankruptcy
Data
There is no
bankruptcy data against this company
court data
there is no data
for this company
|
Current
director details |
|
|
Name |
KRISHNA KALUBHAI
DONDA |
|
Position |
Principal Manager |
|
Start
Date |
12/03/2012 |
|
Street |
59 BELGIELEI
ANTWERPEN |
|
Post
code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
DHANSUKBHAI DONDA |
|
Position |
Principal Manager |
|
Start
Date |
09/09/2010 |
|
Street |
98 BELGIELEI
ANTWERPEN |
|
Post
code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
KISHOR LAVJIBHAI
DONDA |
|
Position |
Principal Manager |
|
Start
Date |
12/03/2012 |
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.59.20 |
|
UK Pound |
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
|
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 |
|
|
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.