|
Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
K. LAXMI IMPEXBVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 2, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
12.03.2008 |
|
|
|
|
Com. Reg. No.: |
896518243 |
|
|
|
|
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 |
|
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 896518243
Company name K.
LAXMI IMPEXBVBA
Address HOVENIERSSTRAAT
2
2018
ANTWERPEN
Number of staff 0
Date of establishment 12/03/2008
Telephone number 032313313
Fax number 032313313
The business was established over 6 years ago.
The business has 1 employees.
The business has changed its registered name recently.
The business has been at the address for over 5 years.
Operating Result in the latest trading period increased 126%
on the previous trading period.
Net Worth increased by 902% during the latest trading
period.
A 78% growth in Total Assets occurred during the latest
trading period.
Pre-tax profits increased by 31% compared to the previous
trading period.
The business saw a decrease in their Cash Balance of 52%
during the latest trading period.
|
Date
of latest accounts |
Turnover |
Profit
Before Tax |
Net
worth |
Working
capital |
|
31/12/2012 |
10,623,744 |
42,909 |
692,486 |
621,557 |
|
31/12/2011 |
10,474,999 |
32,572 |
69,097 |
66,927 |
|
31/12/2010 |
7,255,324 |
21,169 |
44,607 |
41,250 |
Accounts
|
Date of latest accounts |
Balance
Total |
Number
of Employees |
Capital |
Cashflow |
|
31/12/2012 |
5,653,944 |
0 |
606,000 |
87,433 |
|
31/12/2011 |
3,162,468 |
0 |
19,000 |
25,677 |
|
31/12/2010 |
2,369,209 |
0 |
19,000 |
17,394 |
Profitability
Liquidity
Net worth
Past payments Payment
expectation days 88.24
Industry average payment
expectation days 165.24
Industry
average day sales
Outstanding 126.31
Day sales outstanding 159.15
Bankruptcy details
Court action type no Protested bills
Bill amount - NSSO details
Date of summons -
Company information
Business number 896518243
Company name K.
LAXMI IMPEX BVBA
Fax number 032313313
Date founded 12/03/2008
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.0896.518.243
Check
VAT
number
Code -
Description FROM 1 TO 4 EMPLOYEES
Joint Industrial Committee (JIC)
Event Date 13/02/2014
Event Description
Event Details Bride
Crown Jewellery L.L.C. schrijft in op de 695 nieuwe aandelen.
Profit
& loss
|
Annual
accounts |
31-12-2012 % |
31-12-2011
% |
31-12-2010 |
Industry
average 2012 |
% |
|
Weeks |
52 |
52 |
78 |
|
|
|
Currency |
EUR |
EUR |
EUR |
|
|
|
Turnover |
10,623,744 1.42 |
10,474,999
44.38 |
7,255,324 |
46,485,458 |
-77.15 |
|
Total
operating expenses |
10,527,741 0.91 |
10,432,588
44.50 |
7,220,008 |
46,114,879 |
-77.17 |
|
Operating
result |
96,003 126 |
42,411
20.09 |
35,316 |
141,119 |
-31.97 |
|
Total
financial income |
1 |
- |
- |
-- |
98,884 |
-99 |
|
Total financial expenses |
53,094 |
439 |
9,839 |
-30.45
14,147 |
206,523 |
-74.29 |
|
Results on ordinary operations
before taxation |
42,909 |
31.74 |
32,572 |
53.87
21,169 |
25,299 |
69.61 |
|
Taxation |
6,521 |
-19.32
8,082 |
62.88
4,962 |
20,807 |
-68.66 |
|
|
Results on ordinary operations after
taxation |
36,389 |
48.59 |
24,489 |
51.11
16,207 |
10,494 |
246 |
|
Extraordinary
items |
0 |
- |
0 |
-0 |
-3,973 |
0 |
|
Other
appropriations |
0.00 |
- |
0.00 |
-
0.00 |
- |
- |
|
Net
result |
36,389 |
48.59 |
24,489 |
51.11
16,207 |
6,539 |
456 |
|
|
other information |
|
|
|
||
|
Gross
Operating Margin |
158,607 |
218 |
49,779 |
34.63
36,975 |
56,922 |
178 |
|
Dividends |
- |
- |
- |
-- |
172,177 |
- |
|
Director
remuneration |
- |
- |
- |
-- |
112,544 |
- |
|
Employee
costs |
9,018 |
116 |
4,162 |
-- |
125,946 |
-92.84 |
|
Wages
and salary |
7,302 |
102 |
3,598 |
-- |
105,550 |
-93.08 |
|
Employee
pension costs |
- |
- |
- |
-- |
14,428 |
- |
|
Social security contributions |
1,495 |
193 |
509 |
-- |
26,656 |
-94.39 |
|
Other employee costs |
221 |
306 |
54 |
-0 |
4,349 |
-94.92 |
|
oOO
Amortization and depreciation |
51,044 |
4198 |
1,187 |
0
1,187 |
17,831 |
186 |
balance sheet
|
Annual
accounts |
31-12-2012
% 31-12-2011 % |
31-12-2010 |
average |
% |
||
|
|
|
|
|
|
2012 |
|
|
Weeks |
52 |
52 |
|
78 |
|
|
|
Currency |
EUR |
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
-0 |
- |
0 |
1,573 |
-100 |
|
Tangible
fixed assets |
339,655 |
15555
2,170 |
-35.37 |
3,357 |
184,117 |
84.48 |
|
Land & building |
314,560 |
-- |
- |
- |
362,988 |
-13.34 |
|
Plant & machinery |
- |
-- |
- |
- |
22,615 |
- |
|
Furniture & Vehicles |
795 |
-54.10
1,731 |
-35.11 |
2,668 |
17,295
5,364 |
-95.41 |
|
Leasing & Other Similar Rights |
- |
-- |
- |
- |
142,153
32,369 |
- |
|
Other tangible assets |
24,300 |
5442
438 |
-36.39 |
689 |
7,596 |
219 |
|
Financial
fixed assets |
- |
-- |
- |
- |
306,761 |
- |
|
Total
fixed assets |
339,655 |
15555
2,170 |
-35.37 |
3,357 |
394,708 |
-13.95 |
|
Inventories |
447,852 |
378
93,546 |
-91.70 |
1,127,126 |
3,105,524 |
-85.58 |
|
Raw materials & consumables |
- |
-- |
- |
- |
7,209,884 |
- |
|
Work in progress |
0 |
-0 |
- |
0 |
2,387 |
-100 |
|
Finished goods |
0 |
-0 |
- |
0 |
1,996,655 |
-100 |
|
Other stocks |
447,852 |
378
93,546 |
-91.70 |
1,127,126 |
569,977 |
-21.43 |
|
Trade
debtors |
4,632,101 |
80.58
2,565,145 |
225 |
789,101 |
4,243,347 |
9.16 |
|
Cash |
233,455 |
-52.43
490,711 |
12.10 |
437,752 |
227,473 |
2.63 |
|
other
amounts receivable |
882 |
-91.90
10,897 |
-8.22 |
11,874 |
209,176 |
-99 |
|
Miscellaneous
current assets |
0 |
-0 |
- |
0 |
18,254 |
-100 |
|
Total
current assets |
5,314,290 |
68.16
3,160,299 |
33.58 |
2,365,852 |
7,328,597 |
-27.49 |
|
Total
Assets |
5,653,944 |
78.78
3,162,468 |
33.48 |
2,369,209 |
7,683,424 1,454,122 |
-26.41 |
current liabilities
|
Trade
creditors |
2,545,255 |
-16.32
3,041,552 |
33.40 |
2,279,951 |
3,148,030 |
-19.15 |
|
Short
term group loans |
- |
-- |
- |
- |
- |
- |
|
Financial
debts |
1,914,543 |
-- |
- |
- |
4,280,807
189,666 |
-55.28 |
|
Current
portion of long term debt |
14,347 |
-- |
- |
- |
110,204
15,373 -86.98 |
|
|
Amounts Payable for
Taxes, Remuneration & Social Security |
6,485 |
-23.13
8,436 |
69.23 |
4,985 |
9,740
- |
-80.94 |
|
Miscellaneous
current liabilities |
212,103 |
388
43,383 |
9.37 |
39,666 |
-28.81 |
-
- |
|
Total
current liabilities |
4,692,733 |
51.70
3,093,371 |
33.07 |
2,324,602 |
5,462,976 |
-14.10 |
|
|
Long
term |
debts
and liabilities |
|
|
|
|
|
Long
term group loans |
- |
-- |
- |
- |
- |
-
- |
|
Other
long term loans |
268,726 |
-- |
- |
- |
-75.88 |
-
- |
|
Deffered
taxes |
- |
-- |
- |
- |
37,626
26,358 |
- |
|
Provisions
for Liabilities & Charges |
0 |
-0 |
- |
0 |
3,168
0 |
-100 |
|
Other
long term liabilities |
0 |
-0 |
- |
0 |
128,026 |
-100 |
|
Total
long term debts |
268,726 |
-0 |
- |
0 |
562,804 |
-52.25 |
|
|
shareholders equity |
|
|
|
|
|
|
Issued
share capital |
606,000 |
3089
19,000 |
0 |
19,000 |
967,968 |
-37.39 |
|
Share
premium account |
- |
-- |
- |
- |
109,362 |
- |
|
Reserves |
86,486 |
72.64
50,097 |
95.63 |
25,607 |
654,096 |
-86.78 |
|
Revaluation
reserve |
- |
-- |
- |
- |
939,206 |
- |
|
Total
shareholders equity |
692,486 |
902
69,097 |
54.90 |
44,607 |
1,651,582 |
-58.07 |
|
Working
capital |
621,557 |
828
66,927 |
62.25 |
41,250 |
1,865,621 |
-66.68 |
|
Cashflow |
87,433 |
240
25,677 |
47.62 |
17,394 |
21,288 |
310 |
|
Net
worth |
692,486 |
902
69,097 |
54.90 |
44,607 |
1,648,350 |
-57.99 |
ratio analysis
|
Profit
Before Tax |
0.40 |
29.03 |
0.31 |
6.90 |
0.29 |
-29,00 |
1.38 |
|
Return
on capital employed |
4.46 |
-90.54 |
47.14 |
-0.67 |
47.46 |
29,00 |
-84.62 |
|
Return on total
assets employed |
0.76 |
-26.21 |
1.03 |
15.73 |
0.89 |
-200,00 |
0.38 |
|
Return
on net assets employed |
6.20 |
-86.85 |
47.14 |
-0.67 |
47.46 |
19,00 |
-67.37 |
|
Sales
/ net working capital |
17.09 |
-89.08 |
156.51 |
-11.01 |
175.88 |
44,00 |
-99 |
|
Stock
turnover ratio |
4.22 |
374 |
0.89 |
-94.27 |
15.54 |
116,00 |
-96.36 |
|
Debtor
days |
159.15 |
78.06 |
89.38 |
125 |
39.70 |
143,00 |
11.29 |
|
Creditor
days |
88.24 |
-17.08 |
106.41 |
-7.68 |
115.26 |
125,00 |
-29.41 |
|
|
|
short term stability |
|
|
|
||
|
Current
ratio |
1.13 |
10.78 |
1.02 |
0 |
1.02 |
6,00 |
-87.44 |
|
Liquidity
ratio / acid ratio |
1.04 |
5.05 |
0.99 |
86.79 |
0.53 |
4,00 |
-74.00 |
|
Current
debt ratio |
6.78 |
-84.86 |
44.77 |
-14.09 |
52.11 |
9,00 |
-24.67 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
|
|
long term stability |
|
|
|
|
|
|
Gearing |
317.35 |
- |
- |
- |
- |
357,00 |
-11.11 |
|
Equity
in percentage |
12.25 |
461 |
2.18 |
15.96 |
1.88 |
-3.192,00 |
0.38 |
|
Total
debt ratio |
7.16 |
-84.01 |
44.77 |
-14.09 |
52.11 |
11,00 |
-34.91 |
Activity code 46761
Activity description Wholesale
of diamonds and other precious stones
industry average credit rating 64.48
Industry average credit limit 140177.31
Payment Information
Suspension of payments / moratorium history
Amount -
Details -
Payment expectations
Payment expectation days 88.24
Day sales outstanding 159.15
Industry comparison
Activity code 46761
Activity description Wholesale
of diamonds and other precious stones
Industry average payment
expectation days 165.24
Industry average day sales
Outstanding 126.31
Payment expectations
Company result 88.24
Lower 134.13
Median 84.97
Upper 45.81
Day sales outstanding
Company result 159.15
Lower 110.17
Median 59.01
Upper 28.11
Shareholder Details
Group - Number of Companies 0
Linkages - Number of Companies 0
Number of Countries 0
Click the company to view / order a report.
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Group - Number of Companies 0
Linkages - Number of Companies 0
Number of Countries 0
Court data
Drawee name -
Address -
Bill amount -
Bill currency -
Maturity of bill -
Name of drawer -
City of drawer –
Business number 896518243
Name of defendant -
Legal form of defendant -
Date of summons -
Labour court -
There is no bankruptcy data against this company
Bankruptcy 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.58.84 |
|
|
1 |
Rs.98.40 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
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.