MIRA INFORM REPORT
|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARYAN BVBA |
|
|
|
|
Registered Office : |
Belgiëlei 83-B 6, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
15.05.2002 |
|
|
|
|
Com. Reg. No.: |
477667887 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and Other Precious Stones |
|
|
|
|
No of Employees : |
01 (31.12.2012) |
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 |
Company
summary
Business number 477667887
Company name ARYAN BVBA
Address BELGIËLEI 83-B 6
2018 ANTWERPEN
Number of staff 01
(31.12.2012)
Date of establishment 15/05/2002
Telephone number 051298391
Fax number 032267727
Commentary
|
The business was established over 12 years
ago. |
|
||
|
The business has 1 employees. |
|
||
|
The business has been at the address for
over 2 years. |
|
||
|
Operating Result in the latest trading
period decreased 66% on the previous trading period. |
|
||
|
A 44% decline in Total Assets occurred
during the latest trading period. |
|
||
|
The business saw an increase in their Cash
Balance of 161% during the latest trading period. |
|
||
|
Turnover in the latest trading period
decreased 35% on the previous trading period. |
|
||
Accounts
|
Date of latest
accounts |
Turnover |
Profit Before
Tax |
Net worth |
Working capital |
|
31/12/2012 |
29,167,067 |
66,074 |
7,420,840 |
7,367,418 |
|
31/12/2011 |
45,506,789 |
75,017 |
7,517,498 |
7,505,153 |
|
31/12/2010 |
51,298,391 |
83,890 |
6,719,953 |
6,631,826 |
Accounts
|
Date of latest
accounts |
Balance Total |
Number of
Employees |
Capital |
Cashflow |
|
31/12/2012 |
25,928,831 |
1 |
7,432,377 |
51,876 |
|
31/12/2011 |
46,834,988 |
0 |
7,579,476 |
57,699 |
|
31/12/2010 |
43,352,409 |
0 |
18,600 |
60,690 |
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment
expectations
Past Payments
Payment expectation days 108.77
Industry average payment expectation days 164.51
Day sales outstanding 75.12
Industry average day sales outstanding 125.52
Court
data summary
Court action type no
Company
information
Business number 477667887
Company name ARYAN
BVBA
Fax number 032267727
Date founded 15/05/2002
Company status active
Company type Private
Limited Company (BL/LX)
Currency Euro
(€)
Date of latest accounts 31/12/2012
Liable for VAT yes
Activity code 46761
Activity description Wholesaler
of diamonds and Other Precious Stones
Belgian Bullettin of Acts Publications Moniteur Belge
Social
Balance Sheet Details
Personnel Charges
Part-time Employees 11,668
Total 11,668
During the previous reporting year
Actual working hours 632
Personnel Charges 10,100
Personnel
(NSSO
classification)
Description FROM 1 TO 4 EMPLOYEES
Joint
Industrial Committee
(JIC)
JIC Code 218
Description Additional
national joint committee for the employees
COMPANY
ACCOUNTS
Comparison Mode
·
Average Median Export
accounts to CSV File
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 |
29,167,067 |
-35.91 |
45,506,789 |
-11.29 |
51,298,391 |
46,485,458 |
-37.26 |
|
Total
operating expenses |
28,852,992 |
-35.27 |
44,575,603 |
-12.46 |
50,921,079 |
46,114,879 |
-37.43 |
|
Operating
result |
314,075 |
-66.27 |
931,186 |
146 |
377,312 |
140,820 |
123 |
|
Total
financial income |
401,331 |
43.97 |
278,766 |
94355 |
295 |
98,771 |
306 |
|
Total
financial expenses |
649,332 |
-42.79 |
1,134,934 |
286 |
293,717 |
206,101 |
215 |
|
Results on ordinary operations before
taxation |
66,074 |
-11.92 |
75,017 |
-10.58 |
83,890 |
25,231 |
161 |
|
Taxation |
20,719 |
-12.11 |
23,573 |
-23.80 |
30,934 |
20,807 |
-0.42 |
|
Results on ordinary operations after
taxation |
45,355 |
-11.84 |
51,444 |
-2.85 |
52,955 |
10,456 |
333 |
|
Extraordinary items |
3,448 |
609 |
486 |
- |
0.00 |
-3,965 |
86.96 |
|
Other appropriations |
0 |
0 |
0.00 |
- |
0.00 |
- |
- |
|
Net result |
48,803 |
-6.02 |
51,930 |
-1.94 |
52,955 |
6,510 |
649 |
|
Other
Information |
|
|
|
|
|
|
|
|
Gross Operating Margin |
-- |
--- |
-- |
-- |
-- |
56,746 |
-- |
|
Dividends |
-- |
--- |
--- |
--- |
--- |
172,177 |
-- |
|
Director remuneration |
-- |
--- |
--- |
--- |
--- |
112,544 |
--- |
|
Employee costs |
11,668 |
13.28 |
10,300 |
-65.51 |
29,864 |
125,946 |
-90.74 |
|
Wages and salary |
10,378 |
7.77 |
9,630 |
-60.07 |
24,116 |
105,550 |
-90.17 |
|
Employee pension costs |
- |
- |
-- |
- |
- |
14,428 |
-- |
|
Social security
contributions |
1,097 |
208 |
356 |
-93.33 |
5,338 |
26,656 |
-95.88 |
|
Other employee costs |
193 |
-38.54 |
314 |
-23.39 |
410 |
4,340 |
-95.55 |
|
Amortization and
depreciation |
3,073 |
-46.73 |
5,769 |
-25.42 |
7,735 |
17,811 |
-82.75 |
Balance Sheets
|
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 |
418 |
- |
870 |
-- |
1,184 |
1,570 |
-73.38 |
|
Tangible
fixed assets |
46,778 |
740 |
5,568 |
-93.21 |
82,027 |
184,117 |
-74.59 |
|
Land & building |
- |
- |
- |
- |
72,221 |
362,988 |
- |
|
Plant & machinery |
881 |
175 |
320 |
-71.54 |
1,124 |
22,615 |
-96.10 |
|
Furniture & Vehicles |
45,897 |
774 |
5,248 |
-39.55 |
8,681 |
17,295 5,364 |
165 |
|
Leasing & Other Similar
Rights |
- |
- |
- |
- |
- |
142,153 32,369 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
7,581 |
-100 |
|
Financial
fixed assets |
6,645 |
-1.95 |
6,777 |
11.10 |
6,100 |
306,282 |
-97.83 |
|
Total
fixed assets |
53,841 |
307 |
13,215 |
-85.20 |
89,310 |
294,259 |
-86.34 |
|
Inventories |
19,497,735 |
-21.35 |
24789526 |
76.47 |
14,047,580 |
3,098,414 |
529 |
|
Raw materials &
consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,382 |
-100 |
|
Finished goods |
19,497,735 |
-21.35 |
24789526 |
76.47 |
14,047,580 |
1,992,650 |
878 |
|
Other stocks |
0 |
- |
- |
- |
0 |
569,029 |
-100 |
|
Trade
debtors |
6,002,737 |
-72.33 |
21697340 |
-27.76 |
27,730,685 |
4,234,849 |
75 |
|
Cash |
70,113 |
161 |
26861 |
-97.72 |
1,179,286 |
227,014 |
-69.12 |
|
other
amounts receivable |
303,021 |
-1.63 |
308045 |
0.89 |
305,332 |
208,818 |
45.11 |
|
Miscellaneous
current assets |
1,384 |
138300 |
1 |
-99 |
216 |
18,217 |
92.40 |
|
Total
current assets |
25,874,990 |
-44.74 |
46821773 |
8.23 |
43,263,099 |
7,314,172 |
253 |
|
Total
Assets |
25,928,831 |
-44.64 |
46834988 |
8.03 |
43,352,409 |
7,668,273 1,451,744 |
238 |
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
Trade
creditors |
8,597,947 |
-71.23 |
29,884,546 |
14.17 |
26,176,465 |
3,141,505 |
173 |
|
Short
term group loans |
-- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
9,857,504 |
5.64 |
9,331,087 |
-7.92 |
10,134,211 |
4,280,807 189,666 |
130 |
|
Current
portion of long term debt |
- |
- |
- |
- |
221,188 |
110,204 15,373 |
- |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
23,123 |
-63.67 |
63,642 |
-5.74 |
67,519 |
9,727 - |
-31.97 |
|
Miscellaneous
current liabilities |
28,998 |
-22.35 |
37,345 |
17.11 |
31,890 |
-90.25 |
-- |
|
Total
current liabilities |
18,507,572 |
-52.93 |
39316 |
620 |
7.33 |
5452181 |
239 |
|
LONG TERM DEBTS AND
LIABILITIES |
|||||||
|
Deffered
taxes |
-- |
-- |
-- |
-- |
-- |
37,626 26,358 |
-- |
|
Provisions
for Liabilities & Charges |
0 |
-- |
0 |
-- |
0 |
3162 0 |
-100 |
|
Other
long term liabilities |
1 |
-- |
0 |
-- |
0 |
127,769 |
-99 |
|
Total
long term debts |
1 |
|
0 |
-- |
0 |
561,675 |
-99 |
|
SHAREHOLDERS EQUITY |
|||||||
|
Issued
share capital |
7,432,377 |
-1.94 |
7,579,476 |
40,649 |
18,600 |
966,465 |
669 |
|
Share
premium account |
-- |
-- |
-- |
-- |
--- |
109,362 |
-- |
|
Reserves |
-11,119 |
18.20 |
-61,108 |
-100 |
6,702,537 |
652,459 |
-101 |
|
Revaluation
reserve |
-- |
--- |
-- |
--- |
--- |
939,206 |
-- |
|
Total
shareholders equity |
7,421,258 |
-1.29 |
7,518,368 |
11.86 |
6,721,137 |
1,648,380 |
350 |
|
Working
capital |
7,367,418 |
-1.84 |
7,505,153 |
13.17 |
6,631,826 |
1,861,991 |
295 |
|
Cashflow |
51,876 |
-10.09 |
57,699 |
-4.93 |
60,690 |
21,230 |
144 |
|
Net
worth |
7,420,840 |
-1.29 |
7,517,498 |
11.87 |
6,719,953 |
1,645,157 |
351 |
Ratio Analysis
|
Annual accounts |
31-12-2012 change(%) |
31-12-2011 change(%) |
31-12-2010
Industry average 2012 |
% |
|||
|
Trading
performance |
|||||||
|
Profit Before Tax |
0.23 |
43.75 |
0.16 |
0 |
0.16 |
-29,00 |
0.79 |
|
Return on capital employed |
0.89 |
-11.00 |
1 |
-20.0 |
1.25 |
29,00 |
-96.93 |
|
Return on
total assets employed |
0.25 |
56.25 |
0.16 |
-15.79 |
0.19 |
-200,00 |
0.12 |
|
Return on net assets employed |
0.89 |
-11.00 |
1 |
-20.0 |
1.25 |
19,00 |
-95.32 |
|
Sales / net working capital |
3.96 |
-34.65 |
6.06 |
-21.71 |
7.74 |
44,00 |
-99 |
|
Stock turnover ratio |
66.85 |
22.73 |
54.47 |
98.94 |
27.38 |
116,00 |
-42.37 |
|
Debtor days |
75.12 |
-56.84 |
174.03 |
-11.80 |
197.31 |
143,00 |
-47.47 |
|
Creditor days |
108.77 |
-55.55 |
244.70 |
30.42 |
187.63 |
125,00 |
-12.98 |
|
short
term stability |
|||||||
|
Current
ratio |
1.40 |
17.65 |
1.19 |
0.85 |
1.18 |
6,00 |
-84.44 |
|
Liquidity ratio / acid ratio |
0.34 |
-39.29 |
0.56 |
-30.0 |
0.80 |
4,00 |
-91.50 |
|
Current debt ratio |
2.49 |
-52.39 |
5.23 |
-4.04 |
5.45 |
9,00 |
-72.33 |
|
long
term stability |
|||||||
|
Gearing |
132.83 |
7.03 |
124.11 |
-19.45 |
154.07 |
357,00 |
-62.79 |
|
Equity in percentage |
28.62 |
78.32 |
16.05 |
3.55 |
15.50 |
-3.185,00 |
0.90 |
|
Total debt ratio |
2.49 |
-52.39 |
5.23 |
-4.04 |
5.45 |
11,00 |
-77.36 |
Payment
expectations
Payment expectation days 108.77
Day sales outstanding 75.12
Industry comparison
Activity code 46761
Activity description Wholesaler of
diamonds and other precious stones
Industry average payment expectation days 164.51
Industry average day sales outstanding 125.52
Industry
quartile analysis
Payment
expectations
Company result 108.77
Lower 133.74
Median 84.60
Upper 45.33
Day sales
outstanding
Company result 75.12
Lower 110.17
Median 58.56
Upper 28.58
Summary
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
NSSO
details
Business number 477667887
Bankruptcy
details
There is no bankruptcy data against this company
Bankruptcy
Data
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.60.10 |
|
UK Pound |
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.