MIRA INFORM REPORT

 

 

Report Date :

09.06.2014

 

IDENTIFICATION DETAILS

 

Name :

RAJDIAM BVBA

 

 

Registered Office :

Hoveniersstraat 30 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

23.04.1987

 

 

Com. Reg. No.:

430874295

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of diamonds precious stones

 

 

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 :

Unknown

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

 

 

 

Company name and address

 

Business number         430874295

Company name            RAJDIAM BVBA

Address                       HOVENIERSSTRAAT 30

2018 ANTWERPEN

Number of staff            0

Date of establishment   23/04/1987

Telephone number       032319519

 

 

Accounts

 

DATE OF LATEST ACCOUNTS

TURNOVER

PROFIT BEFORE TAX             NET WORTH              WORKING CAPITAL

 

31/1 2/2011

 

38,729 415,788

652,805

 

31/1 2/2010

 

14,611 246,774

132,517

 

31/1 2/2009

 

7,836 235,830

114,336

 

Accounts

DATE OF LATEST ACCOUNTS

BALANCE TOTAL

NUMBER OF EMPLOYEES CAPITAL

CASHFLOW

 

31/12/2011

2,783,467

0 153,600

52,360

 

31/12/2010

1,414,079

0 18,600

19,420

 

31/12/2009

1,978,682

0 18,600

14,412

 

 

 

Payment expectations

 

Past payments

 

Payment expectation days

-

 

Industry average payment expectation days

165.08

Industry average day sales outstanding

126.18

 

Day sales outstanding -

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type

no

 

 

 

PROTESTED BILLS

 

 

 

 

Bill amount

-

 

 

 

NSSO DETAILS

 

 

 

 

Date of summons -

Company information

 

Business number

430874295

Company name

RAJDIAM BVBA

 

Fax number

 

Date founded

23/04/1987

 

Company status

active

Company type

Private Limited Company (BL/LX)

 

Currency

Euro (€)

Date of latest accounts

31/12/2011

 

Activity code

46761

Liable for VAT

yes

 

Activity description

Wholesale of diamonds        VAT Number and other precious stones

BE.0430.874.295 Check VAT number

 

Belgian Bullettin of Acts Publications

moniteur belge

 

 

 

Contractor details

 

 

Personnel (NSSO classification)

 

Code                -

Description       FROM 1 TO 4 EMPLOYEES

 

 

Significant Events

 

Event Date        21/01/2010

Event Details    Correction published January 25: Addition of the fact that the report of the

special general meeting dated 21-01-2010, the mandate as manager

Mr Kothari Rahul just commencing suspensive voorwa

Event Date        21/01/2010

Event Details    ard to obtain the professional card.

 

 

Profit & loss

 

Annual accounts

31-12-2011

%

31-12-2010

%

31-12-2009

Industry average 2011

%

Weeks

52

 

52

 

52

 

 

Currency

EUR

 

EUR

 

EUR

 

 

Turnover

-

-

-

-

-

49,372,635

-

Total operating expenses

-

-

-

-

-

48,739,899

-

Operating result

121,356

46.16

83,031

172

30,465

236,437

-48.67

Total financial income

324,914

-

-

-

-

150,835

115

Total financial expenses

407,540

495

68,420

202

22,629

290,263

40.40

Results on ordinary operations before taxation

38,729

165

14,611

86.46

7,836

81,489

-52.47

Taxation

4,714

28.55

3,667

200

1,219

37,692

-87.49

Results on ordinary operations after taxation

34,015

210

10,943

65.38

6,617

56,312

-39.60

Extraordinary items

0

-

0

-

0

2,698

-100

Other appropriations

0.00

-

0.00

-

0

-

-

Net result

OTHER INFORMATION

34,015

210

10,943

65.38

6,617

58,895

-42.25

Gross Operating Margin

146,364

47.78

99,040

144

40,582

55,125

165

Dividends

-

-

-

-

-

147,735

-

Director remuneration

-

-

-

-

-

114,762

-

Employee costs

-

-

-

-

-

1 28,511

-

Wages and salary

-

-

-

-

-

108,887

-

Employee pension costs

-

-

-

-

-

8,542

-

Social security contributions

-

-

-

-

-

27,267

-

Other employee costs

0

-

0

-

0

3,598

-100

Amortization and depreciation

18,345

116

8,477

8.75

7,795

18,482

-0.74

 

 

balance sheet

 

Annual accounts

31-12-2011

%

31-12-2010

%

31-12-2009

Industry average 2011

%

Weeks

52

 

52

 

52

 

 

Currency

EUR

 

EUR

 

EUR

 

 

Intangible fixed assets

0

-

0

-

0

1,454

-100

Tangible fixed assets

130,655

14.35

114,257

-5.96

121,494

1 78,173

-26.67

Land & building

88,485

-9.23

97,485

-3.69

101,225

344,056

-74.28

Plant & machinery

2,778

-21.19

3,525

-22.17

4,529

21,830

-87.27

Furniture & Vehicles

39,392

197

13,247

-15.83

15,739

19,591 7,250

101

Leasing & Other Similar Rights

-

-

-

-

-

141,158 33,937

-

Other tangible assets

0

-

0

-100

1

7,999

-100

Financial fixed assets

-

-

-

-

-

274,369

-

Total fixed assets

130,655

14.35

114,257

-5.96

121,494

362,109

-63.92

Inventories

567,805

-23.65

743,683

-26.59

1,013,021

3,144,244

-81.94

Raw materials & consumables

-

-

-

-

-

4,101,634

-

Work in progress

0

-

0

-

0

2,448

-100

Finished goods

0

-

0

-

0

2,046,596

-100

Other stocks

567,805

-23.65

743,683

-26.59

1,013,021

536,658

5.80

Trade debtors

2,067,185

361

447,577

-41.99

771,535

3,957,731

-47.77

Cash

6,287

-94.18

107,952

60.91

67,090

240,229

-97.38

other amounts receivable

11,535

1789

611

-88.98

5,542

245,456

-95.30

Miscellaneous current assets

0

-

0

-

0

21,282

-100

Total current assets

2,652,812

104

1,299,822

-30.01

1,857,188

7,077,673

-62.52

Total Assets

2,783,467

96.84

1,414,079

-28.53

1,978,682

7,403,622 1,364,252

-62.40

 

 

CURRENT LIABILITIES

 

Trade creditors

1,345,783

107

650,053

-36.96

1,031,140

2,906,326

-53.69

Short term group loans

-

-

-

-

-

-

-

Financial debts

653,925

-

-

-

193,161

4,234,668 238,298

-84.56

Current portion of long term debt

-

-

-

-

-

101,257 14,356

-

Amounts Payable for Taxes, Remuneration & Social Security

299

-

-

-

-

9,938 -

-99

Miscellaneous current liabilities

0

-100

517,252

-0.25

518,551

-100

- -

Total current liabilities

2,000,007

71.34

1,167,305

-33.02

1,742,852

5,059,187

-60.47

LONG TERM DEBTS AND LIABILITIES

 

 

 

 

 

 

Long term group loans

-

-

-

-

-

-

- -

Other long term loans

-

-

-

-

-

-

- -

Deffered taxes

-

-

-

-

-

45,017 37,431

-

Provisions for Liabilities & Charges

0

-

0

-

0

8,873 0

-100

Other long term liabilities

367,671

-

0

-

0

133,334

175

Total long term debts

SHAREHOLDERS EQUITY

367,671

 

0

 

0

602,682

-38.99

Issued share capital

153,600

725

18,600

0

18,600

1,021,053

-84.96

Share premium account

-

-

-

-

-

108,219

-

Reserves

262,188

14.91

228,174

5.04

217,230

692,269

-62.13

Revaluation reserve

-

-

-

-

-

815,555

-

Total shareholders equity

415,788

68.49

246,774

4.64

235,830

1,734,545

-76.03

Working capital

652,805

392

132,517

15.90

114,336

2,018,486

-67.66

Cashflow

52,360

169

19,420

34.75

14,412

74,066

-29.31

Net worth

415,788

68.49

246,774

4.64

235,830

1,733,090

-76.01

 

 

ratio analysis

 

Annual accounts

TRADING PERFORMANCE

31-12-2011

change(%)

31-12-2010

change(%)

31-12-2009

Industry average 2011

%

Profit Before Tax

-

-

-

-

-

-734,00

-

Return on capital employed

4.94

-16.55

5.92

78.31

3.32

-14,00

35.29

Return on total assets employed

1.39

34.95

1.03

157

0.40

-29,00

4.79

Return on net assets employed

9.31

57.26

5.92

78.31

3.32

-12,00

77.58

Sales / net working capital

-

-

-

-

-

66,00

-

Stock turnover ratio

-

-

-

-

-

66,00

-

Debtor days

-

-

-

-

-

57.221,00

-

Creditor days

SHORT TERM STABILITY

 

 

 

 

 

329,00

 

Current ratio

1.33

19.82

1.11

3.74

1.07

4,00

-92.61

Liquidity ratio / acid ratio

1.04

116

0.48

0

0.48

3,00

-65.33

Current debt ratio

4.81

1.69

4.73

-35.99

7.39

18,00

-73.28

Liquidity ratio reprocessed

-

-

-

-

-

-

-

LONG TERM STABILITY

 

 

 

 

 

 

 

Gearing

157.27

-

-

-

81.91

269,00

-41.54

Equity in percentage

14.94

-14.38

17.45

46.39

11.92

-1.057,00

1.41

Total debt ratio

5.69

20.30

4.73

-35.99

7.39

19,00

-70.05

 

 

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

 

 

 

Industry comparison

 

Activity code

46761

 

Activity description

Wholesale of diamonds and other precious stones

 

Industry average payment expectation days

165.08

 

 

Industry quartile analysis

 

Payment expectations

Company result -

Lower                          134.13

Median                         84.93

Upper                           45.55

 

Day sales outstanding

 

Company result -

Lower                           110.17

Median                         59.01

Upper                           28.11

 

 

Shareholder Details

 

Summary

Group - Number of Companies             0

Linkages - Number of Companies        0

Number of Countries                           0

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

Bankruptcy details

There is no bankruptcy data against this company

 

 

Bankruptcy Data

 

Court Data

There is no data for this company

 

 

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%)

 

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.