|
Report Date : |
17.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHAILEY GEMS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 53 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
06.10.2000 |
|
|
|
|
Com. Reg. No.: |
473008523 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other 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 : |
Slow but correct |
|
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 473008523
Company name SHAILEY GEMS BVBA
Address HOVENIERSSTRAAT
53 2018 ANTWERPEN
Number of staff 0
Date of establishment 06/10/2000
Telephone number 032335816
Fax number 032337159
The business was established over 13 years ago.
No employees are recorded for this business.
The business has been at the address for over 12 years.
The business saw a decrease in their Cash Balance of 43% during the latest trading period.
Working Capital is a negative amount during the latest trading period
|
Date of latest accounts |
Turnover |
Profit Before Tax |
Net worth |
Working capital |
|
31/12/2013 |
6,856,690 |
13,277 |
66,369 |
-19,958 |
|
31/12/2012 |
7,404,463 |
-29,035 |
56,197 |
-33,112 |
|
31/12/2011 |
6,085,285 |
14,569 |
89,417 |
-3,582 |
|
Date of latest accounts |
Balance Total |
Number of Employees |
Capital |
Cashflow |
|
31/12/2013 |
2,199,942 |
0 |
20,000 |
14,386 |
|
31/12/2012 |
2,170,007 |
0 |
20,000 |
-29,170 |
|
31/12/2011 |
1,913,396 |
0 |
20,000 |
16,559 |
Past payments Payment expectation days 95.36
Industry average payment
expectation days 164.62 Industry average day sales 125.64
Day sales outstanding 63.77 Outstanding
Business number 473008523
Company name SHAILEY GEMS BVBA
Fax number 032337159
Date founded 06/10/2000
Company status active
Company type Private Limited Company
(BL/LX)
Currency Euro (€)
Date of latest accounts 31/12/2013
Activity code 46761
Liable for VAT yes
VATNumber BE.0473.008.523
Activity description Wholesale of diamonds and other precious stones
Annual accounts 31-12-2013 % 31-12-2012 % 31-12-2011 Industry
Average 2013 %
Weeks 52 52 52
Currency EUR EUR EUR
Turnover 6,856,690 -7.40 7,404,463 21.68 6,085,285 57,488,291 -88.07
Total operating expenses 6,833,152 -7.90 7,419,451 22.47 6,058,010 56,827,363 -87.98
Operating result 23,538 157 -14,987 -154 27,275 389,555 -93.96
Total financial income 505 577 75 43.15 52 166,549 -99
Total financial expenses 10,767 -23.76 14,123 10.70 12,758 434,056 -97.52
Results on ordinary operations before
taxation 13,277 45.73 -29,035 -299 14,569 105,124 -87.37
Taxation 3,105 -25.81 4,185 39.50 3,000 26,057 -88.09
Results on ordinary operations after
Taxation 10,172 30.62 -33,220 -387 11,569 84,233 -87.92
Extraordinary items 0 - 0 - 0 2,003 -100
Other appropriations 0.00 - 0.00 - 0.00 - -
Net result 10,172 30.62 -33,220 -387 11,569 86,236 -88.20
Gross Operating Margin 30,992 -19.30 38,403 8.12 35,520 77,630 -60.08
Dividends - - - - - 388,557 -
Director remuneration - - - - - 145,815 -
Employee costs - - - - - 185,938 -
Wages and salary - - - - - 152,740 -
Employee pension costs - - - - - 0 -
Social security contributions - - - - - 41,461 -
Other employee costs 0 - 0 - 0 5,202 -100
Amortization and depreciation 4,214 4.03 4,051 -18.82 4,990 29,605 -85.77
|
Annual accounts |
31-12-2013 % |
31-12-2012 % |
31-12-2011 |
Industry average |
% |
||
|
|
|
|
|
2013 |
|
||
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
1,275 |
-100 |
|
Tangible fixed assets |
86,036 |
-3.35 |
89,018 |
-3.98 |
92,709 |
301,659 |
-71.48 |
|
Land & building |
84,579 |
-3.52 |
87,667 |
-3.40 |
90,754 |
581,881 |
-85.46 |
|
Plant & machinery |
- |
- |
- |
- |
- |
56,759 |
- |
|
Furniture & Vehicles |
1,457 |
7.78 |
1,352 |
-30.87 |
1,955 |
17,290 6,089 |
-91.57 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
153,494 20,215 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
6,254 |
-100 |
|
Financial fixed assets |
290 |
0 |
290 |
0 |
290 |
42,749 |
-99 |
|
Total fixed assets |
86,326 |
-3.34 |
89,308 |
-3.97 |
92,999 |
312,248 |
-72.35 |
|
Inventories |
900,685 |
11.23 |
809,772 |
21.93 |
664,116 |
6,258,050 |
-85.61 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
9,090 |
-100 |
|
Finished goods |
0 |
- |
0 |
- |
0 |
4,963,965 |
-100 |
|
Other stocks |
900,685 |
11.23 |
809,772 |
21.93 |
664,116 |
475,764 |
89.31 |
|
Trade debtors |
1,197,947 |
-3.68 |
1,243,769 |
14.77 |
1,083,732 |
10,978,361 |
-89.09 |
|
Cash |
13,626 |
-43.67 24,191 |
-65.70 |
70,521 |
556,401 |
-97.55 |
|
|
other amounts receivable |
494 |
-76.56 2,106 |
80.72 |
1,165 |
300,792 |
-99 |
|
|
Miscellaneous current assets |
863 |
0 |
863 |
-0.06 |
863 |
41,846 |
-97.94 |
|
Total current assets |
2,113,615 |
1.58 |
2,080,699 |
14.30 |
1,820,397 |
17,321,423 |
-87.80 |
|
Total Assets |
2,199,942 |
1.38 |
2,170,007 |
13.41 |
1,913,396 |
17,604,061 2,834,926 |
-87.50 |
Trade creditors 1,785,316 1.38 1,761,012 21.12 1,453,901 6,698,001 -73.35
Short term group loans - - - - - - -
Financial debts 3000,000 0 300,000 0 300,000 9,860,031 -96.96
573,229
Current portion of long term debt - - - - - 57,894 15,449 -
Amounts Payable for Taxes,
Remuneration & Social Security 3,500 600 500 -90.83 5,450 11,151 - -92.07
Miscellaneous current liabilities 44,757 -14.42 52,299 -19.08 64,628 -93.60 --
Total current liabilities 2,133,573 0.93 2,113,811 15.89 1,823,979 12,634,610 -83.11
LONG TERM DEBTS AND LIABILITIES
Long term group loans - - - - - - --
Other long term loans - - - - - - --
Deffered taxes - - - - - 00 -
Provisions for Liabilities & Charges 0 - 0 - 0 5,397 0 -100
Other long term liabilities 0 - 0 - 0 171,246 -100
Total long term debts 0 - 0 - 0 1,585,076 -100
SHAREHOLDERS EQUITY
Issued share capital 20,000 0 20,000 0 20,000 2,456,291 -99
Share premium account - - - - - 292,813 -
Reserves 46,369 28.10 36,197 -47.86 69,417 829,453 -94.41
Revaluation reserve - - - - - 1,662,858 -
Total shareholders equity 66,369 18.10 56,197 -37.15 89,417 3,384,375 -98.04
Working capital -19,958 60.27 -33,112 -824 -3,582 4,686,813 -100
Cashflow 14,386 49.32 -29,170 -276 16,559 111,247 -87.07
Net worth 66,369 18.10 56,197 -37.15 89,417 3,383,100 -98.04
|
Profit Before Tax |
0.19 |
48.72 |
-0.39 |
-262 |
0.24 |
10,00 |
-98.10 |
|
Return on capital employed |
20 |
38.71 |
-51.67 |
-417 |
16.29 |
-3,00 |
666 |
|
Return on total assets employed |
0.60 |
44.78 |
-1.34 |
-276 |
0.76 |
-11,00 |
5.45 |
|
Return on net assets employed |
20 |
38.71 |
-51.67 |
-417 |
16.29 |
9,00 |
122 |
|
Sales / net working capital |
-343.56 |
-53.64 |
-223.62 |
13.16 |
-1698.84 |
25,00 |
-100 |
|
Stock turnover ratio |
13.14 |
20.11 |
10.94 |
0.27 |
10.91 |
22,00 |
-40.27 |
|
Debtor days |
63.77 |
4.01 |
61.31 |
-5.68 |
65 |
162,00 |
-60.64 |
|
Creditor days |
95.36 |
10.08 |
86.63 |
-1.11 |
87.60 |
95,00 |
0.38 |
|
|
|
short term stability |
|
|
|
|
|
|
Current ratio |
0.99 |
1.02 |
0.98 |
-2.00 |
1 |
9,00 |
-94.50 |
|
Liquidity ratio / acid ratio |
0.57 |
-5.00 |
0.60 |
-4.76 |
0.63 |
5,00 |
-88.60 |
|
Current debt ratio |
32.15 |
-14.52 |
37.61 |
84.36 |
20.40 |
18,00 |
78.61 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
|
|
long term stability |
|
|
|
|
|
|
Gearing |
452.02 |
-15.33 |
533.84 |
59.11 |
335.51 |
300,00 |
50.67 |
|
Equity in percentage |
3.02 |
16.60 |
2.59 |
-44.54 |
4.67 |
-7,00 |
43.14 |
|
Total debt ratio |
32.15 |
-14.52 |
37.61 |
84.36 |
20.40 |
20,00 |
60.75 |
Activity code 46761
Activity description
Wholesale of diamonds and other precious stones
Payment
expectations
Payment expectation days 95.36
Day sales outstanding 63.77
Activity code 46761
Activity description
Wholesale
of diamonds and other precious stones
Industry average payment 164.62
expectation days Industry average day sales 125.64
outstanding
Payment expectations
Company result 95.36
Lower 134.13
Median 84.93
Upper 45.40
Company result 63.77
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
Business number 473008523
Name of defendant –
Legal form of defendant
-Date of summons –
Labour court
-
Bankruptcy Data
There is no bankruptcy data against this company
court
data
there is no data for this company Director details
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.
-
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.101.99 |
|
Euro |
1 |
Rs.81.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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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.