MIRA
INFORM REPORT
|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIAGEMS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.08.1985 |
|
|
|
|
Com. Reg. No.: |
427517996 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and other precious stones |
|
|
|
|
No of Employees : |
02
(31.12.2012) |
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 |
Company summary
|
Business number |
427517996 |
|
Company name |
DIAGEM
BVBA |
|
Address |
HOVENIERSSTRAAT
30 |
|
|
2018
ANTWERPEN |
|
Number of staff |
02
(31.12.2012) |
|
Date of establishment |
01/08/1985 |
|
Telephone number |
032343607 |
|
Fax number |
032253124 |
Commentary
|
The business was established
over 28 years ago. |
|
|
The business has 2 employees. |
|
|
The business has been at the
address for over 16 years. |
|
|
Operating Result in the latest
trading period increased 526% on the previous trading period. |
|
|
A 30% growth in Total Assets
occurred during the latest trading period. |
|
Accounts
DATE OF LATEST
ACCOUNTS TURNOVER PROFIT BEFORE TAX NET WORTH WORKING
CAPITAL
31/12/2012 27,473,944
182,969 1,736,920 2,436,220
31/12/2011 29,699,916
163,159 1,609,312 2,299,105
31/12/2010 23,970,713
74,064 1,493,299 2,179,343
Accounts
DATE OF LATEST
ACCOUNTS BALANCE
TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2012 11,550,858
02 18,592
138,691
31/12/2011 8,857,821
0 18,592
127,103
31/12/2010 7,828,147
0 18,592
63,737
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment expectations
Past payments Payment expectation days 53.90
Industry average payment expectation days 165.08
Industry average day sales outstanding 126.18
Day sales outstanding 121.52
Court data summary
BANKRUPTCY DETAILS
Court action type no
Company information
|
Business number |
427517996 |
Company
name |
DIAGEM
BVBA |
|
Fax number |
032253124 |
Date
founded |
01/08/1985 |
|
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 |
Wholesaler
of diamonds and other precious stones |
VAT
Number |
BE.0427.517.996 |
|
Belgian Bullettin of Acts
Publications |
moniteur
belge |
|
|
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 |
27,473,944 |
-7.49 |
29,699,916 |
23.90 |
23,970,71
3 |
46,485,458 |
-40.90 |
|
Total
operating expenses |
27,037,060 |
-8.75 |
29,630,193 |
24.54 |
23,791,962 |
46,114,879 |
-41.37 |
|
Operating
result |
436,883 |
526 |
69,724 |
-60.99 |
178,751 |
141,119 |
209 |
|
Total
financial income |
38,091 |
-88.84 |
341,398 |
345 |
76,591 |
98,884 |
-61.48 |
|
Total
financial expenses |
292,005 |
17.76 |
247,962 |
36.79 |
181,278 |
206,523 |
41.39 |
|
Results
on ordinary operations before taxation |
182,969 |
12.14 |
163,159 |
120 |
74,064 |
25,299 |
623 |
|
Taxation |
55,362 |
17.43 |
47,146 |
132 |
20,269 |
20,807 |
166 |
|
Results
on ordinary operations after taxation |
127,607 |
9.99 |
116,013 |
115 |
53,795 |
10,494 |
1116 |
|
Extraordinary
items |
0 |
- |
0 |
- |
0 |
-3,973 |
0 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0 |
- |
- |
|
Net
result OTHER INFORMATION |
127,607 |
9.99 |
116,013 |
115 |
53,795 |
6,539 |
1851 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
56,922 |
- |
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
Director
remuneration |
- |
- |
- |
- |
84,000 |
112,544 |
- |
|
Employee
costs |
- |
- |
- |
- |
- |
125,946 |
- |
|
Wages and salary |
- |
- |
- |
- |
- |
105,550 |
- |
|
Employee pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
Social security contributions |
- |
- |
- |
- |
- |
26,656 |
- |
|
Other employee costs |
0 |
- |
0 |
- |
0 |
4,349 |
-100 |
|
Amortization
and depreciation |
11,084 |
-0.06 |
11,090 |
11.55 |
9,942 |
17,831 |
-37.84 |
Balance sheet
|
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 |
0 |
- |
0 |
- |
0 |
1,573 |
-100 |
|
Tangible
fixed assets |
199,180 |
-4.56 |
208,687 |
-1.76 |
212,436 |
184,117 |
8.18 |
|
Land & building |
193,043 |
-4.52 |
202,183 |
-4.33 |
211,323 |
362,988 |
-46.82 |
|
Plant & machinery |
6,137 |
-5.64 |
6,504 |
484 |
1,113 |
22,615 |
-72.86 |
|
Furniture & Vehicles |
- |
- |
- |
- |
- |
17,295
5,364 |
- |
|
Leasing & Other Similar
Rights |
- |
- |
- |
- |
- |
142,153
32,369 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
7,596 |
-100 |
|
Financial
fixed assets |
1,520 |
0 |
1,520 |
0.00 |
1,520 |
306,761 |
-99 |
|
Total
fixed assets |
200,700 |
-4.52 |
210,207 |
-1.75 |
213,956 |
394,708 |
-49.15 |
|
Inventories |
2,190,735 |
112 |
1,031,057 |
-33.56 |
1,551,765 |
3,105,524 |
-29.46 |
|
Raw materials &
consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,387 |
-100 |
|
Finished goods |
2,190,735 |
112 |
1,031,057 |
-33.56 |
1,551,765 |
1,996,655 |
9.72 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
569,977 |
-100 |
|
Trade
debtors |
9,146,918 |
20.33 |
7,601,634 |
26.14 |
6,026,161 |
4,243,347 |
115 |
|
Cash |
4,363 |
-45.13 |
7,952 |
-6.53 |
8,507 |
227,473 |
-98.08 |
|
other
amounts receivable |
3,631 |
47.97 |
2,454 |
-89.47 |
23,296 |
209,176 |
-98.26 |
|
Miscellaneous
current assets |
4,510 |
-0.16 |
4,518 |
1.24 |
4,462 |
18,254 |
-75.29 |
|
Total
current assets |
11,350,158 |
31.25 |
8,647,614 |
13.57 |
7,614,191 |
7,328,597 |
54.87 |
|
Total
Assets |
11,550,858 |
30.40 |
8,857,821 |
13.15 |
7,828,147 |
7,683,424
1,454,122 |
50.33 |
|
Current liabilities |
|
|
|
|
|
|
|
|
Trade
creditors |
3,992,646 |
-10.31 |
4,451,610 |
145 |
1,811,087 |
3,148,030 |
26.83 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
4,292,289 |
247 |
1,236,938 |
-55.41 |
2,773,924 |
4,280,807
189,666 |
0.27 |
|
Current
portion of long term debt |
- |
- |
6,788 |
33.45 |
5,087 |
110,204
15,373 |
- |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
50,612 |
41.57 |
35,750 |
195 |
12,096 |
9,740
- |
48.72 |
|
Miscellaneous
current liabilities |
578,392 |
-6.32 |
617,423 |
-25.85 |
832,654 |
94.12 |
- - |
|
Total
current liabilities |
8,913,938 |
40.41 |
6,348,509 |
16.81 |
5,434,848 |
5,462,976 |
63.17 |
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other
long term loans |
900,000 |
0 |
900,000 |
- |
- |
-19.21 |
- - |
|
Deffered
taxes |
- |
- |
- |
- |
- |
37,626
26,358 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,168
0 |
-100 |
|
Other
long term liabilities |
0 |
- |
0 |
-100 |
900,000 |
128,026 |
-100 |
|
Total
long term debts SHAREHOLDERS EQUITY |
900,000 |
0 |
900,000 |
0 |
900,000 |
562,804 |
59.91 |
|
Issued
share capital |
18,592 |
0 |
18,592 |
0.00 |
18,592 |
967,968 |
-98.08 |
|
Share
premium account |
- |
- |
- |
- |
- |
109,362 |
- |
|
Reserves |
1,718,328 |
8.02 |
1,590,720 |
7.87 |
1,474,707 |
654,096 |
162 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
Total
shareholders equity |
1,736,920 |
7.93 |
1,609,312 |
7.77 |
1,493,299 |
1,651,582 |
5.17 |
|
Working
capital |
2,436,220 |
5.96 |
2,299,105 |
5.50 |
2,179,343 |
1,865,621 |
30.58 |
|
Cashflow |
138,691 |
9.12 |
127,103 |
99 |
63,737 |
21,288 |
551 |
|
Net
worth |
1,736,920 |
7.93 |
1,609,312 |
7.77 |
1,493,299 |
1,648,350 |
5.37 |
Ratio Analysis
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry
average 2012 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.67 |
21.82 |
0.55 |
77.42 |
0.31 |
-29,00 |
2.31 |
|
Return
on capital employed |
6.94 |
6.77 |
6.50 |
110 |
3.09 |
29,00 |
-76.07 |
|
Return
on total assets employed |
1.58 |
-14.13 |
1.84 |
93.68 |
0.95 |
-200,00 |
0.79 |
|
Return
on net assets employed |
10.53 |
3.85 |
10.14 |
104 |
4.96 |
19,00 |
-44.58 |
|
Sales
/ net working capital |
11.28 |
-12.69 |
12.92 |
17.45 |
11 |
44,00 |
-99 |
|
Stock
turnover ratio |
7.97 |
129 |
3.47 |
-46.37 |
6.47 |
116,00 |
-93.13 |
|
Debtor
days |
121.52 |
30.08 |
93.42 |
1.81 |
91.76 |
143,00 |
-15.02 |
|
Creditor
days SHORT TERM STABILITY |
53.90 |
-1.71 |
54.84 |
97.41 |
27.78 |
125,00 |
-56.88 |
|
Current
ratio |
1.27 |
-6.62 |
1.36 |
-2.86 |
1.40 |
6,00 |
-85.89 |
|
Liquidity
ratio / acid ratio |
1.03 |
-14.17 |
1.20 |
7.14 |
1.12 |
4,00 |
-74.25 |
|
Current
debt ratio |
5.13 |
30.20 |
3.94 |
8.24 |
3.64 |
9,00 |
-43.00 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
298.94 |
124 |
133.21 |
-28.42 |
186.10 |
357,00 |
-16.26 |
|
Equity
in percentage |
15.04 |
-17.23 |
18.17 |
-4.77 |
19.08 |
-3.192,00 |
0.47 |
|
Total
debt ratio |
5.65 |
25.56 |
4.50 |
6.13 |
4.24 |
11,00 |
-48.64 |
Industry comparison
Activity code 46761
Activity description Wholesaler of diamonds
and other precious stones
Payment Information
Payment
expectations
Payment expectation days 53.90
Day sales outstanding 121.52
Industry comparison
Activity code 46761
Activity description Wholesaler of diamonds
and other precious stones
Industry average payment expectation days 165.08
Industry average day sales outstanding 126.18
Industry quartile analysis
Payment expectations
Company result 53.90
Lower 134.13
Median 84.93
Upper 45.55
Day sales
outstanding
Company result 121.52
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
Court data
NSSO details
Business number 427517996
Bankruptcy details
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.59.03 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
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.