|
Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROSEDIAM BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 2, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
23.10.1985 |
|
|
|
|
Com. Reg. No.: |
427999929 |
|
|
|
|
Legal Form : |
Private Limited Company (BL/LX) |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
|
|
|
|
No. of Employees : |
2 |
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 |
427999929 |
|
Company
name |
ROSEDIAM
BVBA |
|
Address |
HOVENIERSSTRAAT
2 |
|
|
2018
ANTWERPEN |
|
Number
of staff |
2 |
|
Date
of establishment |
23/10/1985 |
|
Telephone
number |
032342475 |
|
Fax
number |
032261908 |
The business was established over 28 years ago.
The business has 1 employees.
Number of employees in the latest trading period increased 100% on the
previous trading period.
The business has been at the address for over 17 years.
Operating Result in the latest trading period increased 23% on the
previous trading period.
Pre-tax profits increased by 878% compared to the previous trading
period.
The business saw a decrease in their Cash Balance of 40% during the
latest trading period.
Accounts
DATE OF LATEST
ACCOUNTS TURNOVER PROFIT BEFORE TAX NET WORTH WORKING
CAPITAL
31/03/2013 58,299,303
66,336 2,235,601 1,811,366
31/03/2012 50,342,584
6,782 2,182,900 1,779,755
31/03/2011 53,283,588
37,672 2,174,139 1,759,452
Accounts
DATE OF LATEST
ACCOUNTS BALANCE TOTAL NUMBER OF EMPLOYEES CAPITAL
CASHFLOW
31/03/2013 25,369,650 2 18,600 67,547
31/03/2012 23,344,461 1 18,600 21,042
31/03/2011 21,521,420 1 18,600 43,658
Past payments Payment
expectation days 77.72
Industry average payment
expectation days 164.62 Industry average day sales
outstanding 125.64
Day sales outstanding 99.04
Court data summary
BANKRUPTCY DETAILS
Court action type no
PROTESTED BILLS
Bill amount -
NSSO DETAILS
Date of summons –
|
Business
number |
427999929 |
Company
name |
ROSEDIAM
BVBA |
|
|
Fax
number |
032261908 |
Date
founded |
23/10/1985 |
|
|
Company
status |
active |
Company
type |
Private
Limited Company (BL/LX) |
|
|
Currency |
Euro
(€) |
Date
of latest accounts |
31/03/2013 |
|
|
Activity
code |
46761 |
Liable
for VAT |
yes |
|
|
Activity
description |
Wholesale
of diamonds and other precious stones |
VAT
Number |
BE.0427.999.929
Check VAT number |
|
|
Belgian
Bullettin of Acts Publications |
moniteur
belge |
|
|
|
|
Social
Balance Sheet |
Total |
|
During
the reporting year |
|
|
ended
31-03-2013 |
|
|
Full-time
Employees |
2 |
|
Part-time
Employees |
0 |
|
Total
Fte Employees |
2 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
1,908 |
|
Part-time
Employees |
225 |
|
Total |
2,133 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
35,403 |
|
Part-time
Employees |
4,175 |
|
Total |
39,578 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
1 |
|
Actual
working hours |
1,738 |
|
Personnel
Charges |
35,875 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
|
|
|
Type
of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
|
Unlimited
Duration Contracts |
2 |
- |
2 |
|
|
Limited
Duration Contracts |
- |
- |
- |
|
|
Contracts
For Specific Work |
- |
- |
- |
|
|
Contracts
Regarding Substitution |
- |
- |
- |
|
|
|
|
|
|
|
|
|
||||
|
Gender
and Education Level |
|
|
|
|
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
|
Primary
education |
- |
- |
- |
|
|
Secondairy
education |
- |
- |
- |
|
|
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 |
1 |
- |
1 |
|
|
Blue
collar worker |
1 |
- |
1 |
|
|
Other |
- |
- |
- |
|
|
|
|
|
|
|
|
|
||||
|
Temporary
personnel |
|
Total |
|
|
|
Average
number of temporary staff |
- |
|
|
|
|
Actual
working hours |
|
- |
|
|
|
Cost
of temporary staff |
|
- |
|
|
|
|
|
|
|
|
|
|
||||
|
New
staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
|
|
New
Starters |
1 |
2 |
2 |
|
|
Leavers |
1 |
1 |
2 |
|
Personnel (NSSO
classification)
Code -
Description FROM 1 TO 4 EMPLOYEES
Joint Industrial
Committee (JIC)
JIC Code 218
Description Additional
national joint committee for the employees
category
JIC Code 324.02
Description JSC small
merchandisers in the diamant industry and trade
category
Significant Events
Event Date 20/09/2013
Event Description
Event Details De heer Sanghvi
Jitendrakumar Devichandji schrijft in op de 643 nieuwe aandelen.
|
Annual accounts |
31-03-2013 |
% |
31-03-2012 |
% |
31-03-2011 |
Industry
average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
58,299,303 |
15.81 |
50,342,584 |
-5.52 |
53,283,588 |
57,488,291 |
1.41 |
|
Total operating expenses |
57,833,605 |
15.75 |
49,965,385 |
-5.58 |
52,915,972 |
56,827,363 |
1.77 |
|
Operating result |
465,698 |
23.46 |
377,199 |
2.61 |
367,616 |
383,175 |
21.54 |
|
Total financial income |
1,513 |
1906 |
75 |
-93.37 |
1,137 |
164,887 |
-99 |
|
Total financial expenses |
400,875 |
8.20 |
370,493 |
11.90 |
331,080 |
426,580 |
-6.03 |
|
Results on ordinary
operations before taxation |
66,336 |
878 |
6,782 |
-82.00 |
37,672 |
103,560 |
-35.94 |
|
Taxation |
14,190 |
16304 |
87 |
-98.63 |
6,335 |
26,057 |
-45.54 |
|
Results on ordinary
operations after taxation |
52,146 |
678 |
6,695 |
-78.64 |
31,337 |
83,023 |
-37.19 |
|
Extraordinary items |
555 |
-73.12 |
2,066 |
- |
0 |
1,969 |
-71.79 |
|
Other appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result OTHER INFORMATION |
52,702 |
501 |
8,761 |
-72.04 |
31,337 |
84,992 |
-37.99 |
|
Gross Operating Margin |
- |
- |
- |
- |
- |
75,953 |
- |
|
Dividends |
- |
- |
- |
- |
- |
388,557 |
- |
|
Director remuneration |
122,126 |
9.53 |
111,500 |
0.05 |
111,440 |
145,815 |
-16.25 |
|
Employee costs |
39,578 |
10.32 |
35,875 |
-17.48 |
43,476 |
185,938 |
-78.71 |
|
Wages and salary |
33,312 |
15.35 |
28,880 |
-16.33 |
34,518 |
152,740 |
-78.19 |
|
Employee pension costs |
- |
- |
- |
- |
- |
0 |
- |
|
Social security
contributions |
4,727 |
-18.23 |
5,781 |
-25.35 |
7,745 |
41,461 |
-88.60 |
|
Other employee costs |
1,538 |
26.75 |
1,214 |
0.02 |
1,213 |
5,113 |
-69.91 |
|
Amortization and
depreciation |
14,845 |
20.89 |
12,281 |
-0.33 |
12,321 |
29,026 |
-48.85 |
|
Annual accounts |
31-03-2013 |
|
31-03-2012 |
% |
31-03-2011 |
Industry
average 2013 |
% |
|||
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|||
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|||
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
1,292 |
-100 |
|||
|
Tangible fixed assets |
420,033 |
5.29 |
398,942 |
-2.81 |
410,484 |
295,594 |
42.10 |
|||
|
Land & building |
378,690 |
-2.02 |
386,502 |
-1.98 |
394,314 |
581,881 |
-34.92 |
|||
|
Plant & machinery |
40,818 |
242 |
11,928 |
-21.34 |
15,163 |
55,925 |
-27.01 |
|||
|
Furniture & Vehicles |
525 |
2.48 |
513 |
-49.09 |
1,007 |
17,110 6,081 |
-96.93 |
|||
|
Leasing & Other
Similar Rights |
- |
- |
- |
- |
- |
153,494 20,215 |
- |
|||
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
6,148 |
-100 |
|||
|
Financial fixed assets |
4,202 |
0 |
4,202 |
0 |
4,202 |
42,749 |
-90.17 |
|||
|
Total fixed assets |
424,235 |
5.23 |
403,144 |
-2.78 |
414,686 |
306,480 |
38.42 |
|||
|
Inventories |
9,037,350 |
6.22 |
8,507,914 |
7.25 |
7,932,971 |
6,196,821 |
45.84 |
|||
|
Work in progress |
0 |
- |
0 |
- |
0 |
8,936 |
-100 |
|||
|
Finished goods |
9,037,350 |
6.22 |
8,507,914 |
7.25 |
7,932,971 |
4,879,830 |
85.20 |
|||
|
Other stocks |
0 |
- |
0 |
- |
0 |
467,808 |
-100 |
|||
|
Trade debtors |
15,818,915 |
10.52 |
14,312,875 |
8.89 |
13,144,894 |
10,792,316 |
46.58 |
|||
|
Cash |
57,428 |
-40.72 |
96,870 |
515 |
15,734 |
547,172 |
-89.50 |
|||
|
other amounts receivable |
10,735 |
108 |
5,149 |
20.54 |
4,272 |
295,715 |
-96.37 |
|||
|
Miscellaneous current
assets |
20,987 |
13.39 |
18,508 |
108 |
8,863 |
41,169 |
-49.02 |
|||
|
Total current assets |
24,945,415 |
8.74 |
22,941,316 |
8.69 |
21,106,734 |
17,028,309 |
46.49 |
|||
|
Total Assets |
25,369,650 |
8.68 |
23,344,461 |
8.47 |
21,521,420 |
17,306,218 2,823,988 |
46.59 |
|||
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|||
|
Trade creditors |
12,315,366 |
3.08 |
11,946,896 |
23.38 |
9,683,319 |
6,578,539 |
87.21 |
|||
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|||
|
Financial debts |
9,337,339 |
19.77 |
7,796,174 |
-6.13 |
8,305,318 |
9,860,031 573,229 |
-5.30 |
|||
|
Current portion of long term debt |
- |
- |
- |
- |
- |
57,894 15,449 |
- |
|||
|
Amounts Payable for Taxes, Remuneration &
Social Security |
28,151 |
208 |
9,123 |
-53.23 |
19,507 |
10,952 - |
-35.57 |
|||
|
Miscellaneous current liabilities |
1,453,193 |
3.11 |
1,409,367 |
5.24 |
1,339,138 |
111 |
- - |
|||
|
Total current liabilities |
23,134,049 |
9.32 |
21,161,561 |
9.38 |
19,347,281 |
12,421,211 |
86.25 |
|||
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
||||
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
|||
|
Other long term loans |
- |
- |
- |
- |
- |
- |
- - |
|||
|
Deffered taxes |
- |
- |
- |
- |
- |
0 0 |
- |
|||
|
Provisions for Liabilities
& Charges |
0 |
- |
0 |
- |
0 |
5,305 0 |
-100 |
|||
|
Other long term
liabilities |
0 |
- |
0 |
- |
0 |
168,344 |
-100 |
|||
|
Total long term debts SHAREHOLDERS EQUITY |
0 |
|
0 |
|
0 |
1,558,211 |
-100 |
|||
|
Issued share capital |
18,600 |
0 |
18,600 |
0 |
18,600 |
2,415,656 |
-99 |
|||
|
Share premium account |
- |
- |
- |
- |
- |
292,813 |
- |
|||
|
Reserves |
1,990,286 |
2.72 |
1,937,584 |
0.45 |
1,928,823 |
814,181 |
144 |
|||
|
Revaluation reserve |
226,715 |
0 |
226,715 |
0 |
226,715 |
1,662,858 |
-86.37 |
|||
|
Total shareholders equity |
2,235,601 |
2.41 |
2,182,900 |
0.40 |
2,174,139 |
3,326,797 |
-32.80 |
|||
|
Working capital |
1,811,366 |
1.78 |
1,779,755 |
1.15 |
1,759,452 |
4,607,098 |
-60.68 |
|||
|
Cashflow |
67,547 |
221 |
21,042 |
-51.80 |
43,658 |
109,590 |
-38.36 |
|||
|
Net worth |
2,235,601 |
2.41 |
2,182,900 |
0.40 |
2,174,139 |
3,325,505 |
-32.77 |
|||
|
Annual accounts |
31-03-2013 |
change(%) |
31-03-2012 |
change(%) |
31-03-2011 |
Industry
average 2013 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
0.11 |
1000 |
0.01 |
-85.71 |
0.07 |
10,00 |
-98.90 |
|
Return on capital employed |
2.97 |
858 |
0.31 |
-82.08 |
1.73 |
-3,00 |
99.00 |
|
Return on total assets
employed |
0.26 |
766 |
0.03 |
-83.33 |
0.18 |
-10,00 |
2.60 |
|
Return on net assets
employed |
2.97 |
858 |
0.31 |
-82.08 |
1.73 |
9,00 |
-67.00 |
|
Sales / net working
capital |
32.19 |
13.79 |
28.29 |
-6.57 |
30.28 |
25,00 |
-99 |
|
Stock turnover ratio |
15.50 |
-8.28 |
16.90 |
13.50 |
14.89 |
22,00 |
-29.55 |
|
Debtor days |
99.04 |
-4.56 |
103.77 |
15.25 |
90.04 |
162,00 |
-38.86 |
|
Creditor days SHORT TERM STABILITY |
77.72 |
-10.94 |
87.27 |
30.66 |
66.79 |
95,00 |
-18.19 |
|
Current ratio |
1.08 |
0 |
1.08 |
-0.92 |
1.09 |
10,00 |
-94.00 |
|
Liquidity ratio / acid
ratio |
0.69 |
1.47 |
0.68 |
0 |
0.68 |
6,00 |
-88.50 |
|
Current debt ratio |
10.35 |
6.81 |
9.69 |
8.88 |
8.90 |
18,00 |
-42.50 |
|
Liquidity ratio
reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
417.67 |
16.95 |
357.15 |
-6.51 |
382 |
300,00 |
39.22 |
|
Equity in percentage |
8.81 |
-5.78 |
9.35 |
-7.43 |
10.10 |
-7,00 |
125 |
|
Total debt ratio |
10.35 |
6.81 |
9.69 |
8.88 |
8.90 |
19,00 |
-45.53 |
Payment
expectations
Payment expectation days 77.72
Day sales outstanding 99.04
Industry
comparison
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
Industry quartile
analysis
Payment expectations
Company result
77.72
Lower 134.13
Median 84.93
Upper 45.40
Day sales
outstanding
Company result 99.04
Lower 110.17
Median 59.01
Upper 28.09
Group Structure
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Individual
Shareholders
SHAREHOLDER NAME
Forename Jitendrakumar Middle name -
Surname Sanghvi
SHAREHOLDER
DETAILS
Start date
14/10/2013(estimated) End date -
Percentage owned -
SHAREHOLDER
ADDRESS
Street name - House number -
Minor town - Postal town -
Post code - Country India
NSSO details
Business number 427999929
Name of defendant -
Legal form of defendant -
Date of summons
-
Labour court
–
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.
-
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.60.01 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.