|
Report Date : |
10.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
KALP DIAMONDS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 27 2018 Antwerpen |
|
|
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Country : |
Belgium |
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|
|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
28.07.2010 |
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|
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Com. Reg. No.: |
828631903 |
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Legal Form : |
Private Limited Compan |
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|
|
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Line of Business : |
Wholesale of diamonds and other precious stones |
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|
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Belgium |
A1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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
828631903
Company name KALP DIAMONDS BVBA
Address HOVENIERSSTRAAT 30-BUS 27
2018 ANTWERPEN
Number of staff 0
Date of establishment 28/07/2010
Telephone number 032561641
Fax number 037706782
The business was established over 4 years ago.
The business has 1 employees.
The business has been at the address for over 3 years.
Operating Result in the latest trading period increased 22% on the previous trading period.
Net Worth increased by 26% during the latest trading period.
A 23% growth in Total Assets occurred during the latest trading period.
The business saw an increase in their Cash Balance of 58% 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 11,789,358 18,838 58,812 -45,333
31/12/2012 11,192,446 18,454 46,423 -45,668
31/12/2011 12,522,447 22,212 33,922 15,352
DATE OF LATEST ACCOUNTS BALANCE TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2013 6,329,713 0 18,600 33,093
31/12/2012 5,119,619 0 18,600 22,797
31/12/2011 4,700,451 0 18,600 23,281
Past payments Payment
expectation days 172.60
Industry average payment
expectation days 125.69
Industry average day sales
outstanding 141.47
Day sales outstanding 150.61
Business number 828631903 Company name KALP DIAMONDS BVBA
Fax number 037706782 Date founded 28/07/2010
Company status active Company type Private Limited Company
Currency Euro (€) Date of latest accounts 31/12/2013
Activity code 46761 Liable for VAT yes
Activity description Wholesale of diamonds and
other precious stones
Social Balance Sheet Total
During the reporting year
ended 31-12-2013
Full-time Employees -
Part-time Employees 0
Total Fte Employees 0
Number of hours worked
Full-time Employees -
Part-time Employees 183
Total 183
Personnel Charges
Full-time Employees -
Part-time Employees 2,463
Total 2,463
Benefits In Addition To Wages -
During the previous reporting year
Average number employees in Fte 0
Actual working hours 83
Personnel Charges 1,882
Benefits In Addition To Wages -
JIC Code 218
Description Additional national joint committee for the
employees
category
JIC Code 324
Description Joint committee for the industry and the trade in
diamant
Annual accounts 31-12- % 31-12- % 31-12- Industry %
2013 2012 2011 average
Weeks 52
52 74
Currency EUR EUR EUR
Turnover 11,789,358 5.33 11,192,446 -10.62 12,522,447 55,616,217 -78.80
Total operating expenses 11,751,560 5.29 11,161,496 -10.62 12,487,857 55,155,858 -78.69
Operating result 37,798 22.13 30,950 -10.53 34,590 151,771 -75.10
Total financial income 247 -25.19 330 505 54 64,311 -99
Total financial expenses 19,208 49.75 12,826 3.16 12,433 175,397 -89.05
Results on ordinary operations before 18,838 2.08 18,454 -16.92 22,212 36,089 -47.80
Taxation 6,448 8.32 5,953 -13.60 6,890 21,656 -70.22
Results on ordinary operations after taxation 12,389 -0.89 12,501 -18.41 15,322 20,203 -38.68
Extraordinary items 0 - 0 - 0 5,352 -100
Other appropriations 0.00 - 0.00 - 0.00 - -
Net result 12,389 -0.89 12,501 -18.41 15,322 25,694 -51.78
OTHER INFORMATION
Gross Operating Margin - - - - - 35,887 -
Dividends - - - - - 237,850 -
Director remuneration - - - - - 124,122 -
Employee costs 2,463 30.91 1,882 29.20 1,456 138,548 -98.22
Wages and salary 2,322 68.23 1,380 -3.41 1,429 119,852 -98.06
Employee pension costs - - - - - 23,129 -
Social security contributions 121 -69.39 395 3228 12 29,615 -99
Other employee costs 20 -80.97 107 586 16 3,977 -99
Amortization and depreciation 20,704 101 10,296 29.36 7,959 17,965 15.24
Annual accounts 31-12- % 31-12- %
31-12- Industry %
2013 2012 2011 average
Weeks___________________________ 52 52 74
Currency_________________________ EUR________ EUR EUR
Intangible
fixed assets 0 - 0 - 0 1,297 -100
^ Tangible fixed assets 423,222 -2.63 434,633 1746 23,544 189,128 123
Land &
building 407,727 -2.28 417,223 - - 369,305 10.40
Plant &
machinery 10,638 68.18 6,325 0.89 6,270 27,078 -60.71
Furniture
& Vehicles 3,019 76.55 1,710 372 362 15,670 4,508 -80.73
Leasing &
Other Similar Rights 1,838 -80.40 9,375 -44.57 16,912 107,517 -98.29
Financial
fixed assets - - 3,750 0 3,750 185,455 -
Total fixed
assets 423,222 -3.46 4 38,383 1506 27,294 302,817
39.76
Inventories 713,200 28.00 557,183 -10.74 624,237
2,905,671 -75.45
Raw materials
& consumables - - - - - 6,545,857 -
Work in
progress 0 - 0 - 0 1,156 -100
Finished goods 713,200 28.00 557,183 -10.74 624,237 1,933,217 -63.11
Other stocks 0 - 0 - 0 434,396 -100
Trade debtors 4,864,791 24.31 3,913,339 -0.72
3,941,699 4,224,995 15.14
Cash 313,198 58.72
197,328 99 99,002 469,935,15 -99
other amounts
receivable 10,972 23.08 8,914 379 1,857 204,858 -94.64
Miscellaneous
current assets 4,330 -3.16 4,472 -29.71 6,361 -462,484,014 0.00
Total current
assets 5,906,491 26.17 4,681,236 0.17 4,673,157 7,078,907 -16.56
Total Assets 6,329,713 23.64 5,119,619 8.92 4,700,451 7,348,610 -13.87
|
|
Trade creditors |
5,556,913 |
28.94 |
4,309,832 |
1.20 |
4,258,657 |
2,868,217 |
93.74 |
|
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
|
Financial debts |
- |
- |
- |
- |
- |
4,391,654 130,855 |
- |
|
|
Current portion of long term debt |
27,215 |
-16.08 |
32,432 |
364 |
6,982 |
76,461 13,929 |
-64.41 |
|
|
Amounts Payable
for Taxes, Remuneration & Social Security |
7,448 |
-12.79 |
8,540 |
16.82 |
7,310 |
8,190 - -76.16 |
|
|
|
Miscellaneous current liabilities |
360,247 |
-4.22 |
376,102 |
-2.27 |
384,857 |
49.73 |
- - |
|
|
Total current liabilities |
5,951,823 |
25.91 |
4,726,904 |
1.48 |
4,657,805 |
5,041,745 |
18.05 |
|
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
|
Other long term loans |
319,077 |
-7.86 |
346,293 |
3869 |
8,724 |
-72.65 |
- - |
|
|
Deffered taxes |
- |
- |
- |
- |
- |
46,266 28,377 |
- |
|
|
Provisions for Liabilities &
Charges |
0 |
- |
0 |
- |
0 |
4,039 0 |
-100 |
|
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
250,478 |
-100 |
|
|
Total long term debts |
319,077 |
-7.86 |
346,293 |
3869 |
8,724 |
687,464 |
-53.59 |
|
|
SHAREHOLDERS EQUITY |
|
|
|
|
|
|
|
|
|
Issued share capital |
18,600 |
0 |
18,600 |
0 |
18,600 |
974,199 |
-98.09 |
|
|
Share premium account |
- |
- |
- |
- |
- |
124,160 |
- |
|
|
Reserves |
40,212 |
44.53 |
27,823 |
81.59 |
15,322 |
617,549 |
-93.49 |
|
|
Revaluation reserve |
- |
- |
- |
- |
- |
872,766 |
- |
|
|
Total shareholders equity |
58,812 |
26.69 |
46,423 |
36.85 |
33,922 |
1,612,934 |
-96.35 |
|
|
Working capital |
-45,333 |
99 |
-45,668 |
-397 |
15,352 |
2,037,162 |
-102 |
|
|
Cashflow |
33,093 |
45.16 |
22,797 |
-2.08 |
23,281 |
40,310 |
-17.90 |
|
|
Net worth |
58,812 |
26.69 |
46,423 |
36.85 |
33,922 |
1,611,637 |
-96.35 |
|
|
Profit Before Tax |
0.16 |
0 |
0.16 |
-11.11 |
0.18 |
-8,00 |
2.00 |
|
|
Return on capital employed |
4.98 |
5.96 |
4.70 |
-90.98 |
52. 08 |
-8,00 |
62. 25 |
|
|
Return on total assets employed |
0.30 |
-16.67 |
0.36 |
-23.40 |
0.47 |
-8,00 |
3.75 |
|
|
Return on net assets employed |
32.03 |
-19.42 |
39. 75 |
-39.29 |
65. 48 |
-8,00 |
400 |
|
|
Sales / net working capital |
-260.06 |
-6.11 |
-245.08 |
-130 |
815.71 |
137,00 |
-100 |
|
|
Stock turnover ratio |
6.05 |
21.49 |
4.98 |
0 |
4.98 |
74,00 |
-91.82 |
|
|
Debtor days |
150.61 |
18.01 |
127.62 |
11.08 |
114.89 |
141,47 |
6.46 |
|
|
Creditor days |
172.60 |
22.46 |
140.94 |
13. 23 |
124.47 |
125,69 |
37. 32 |
|
SHORT TERM
STABILITY |
||||||||
|
|
Current ratio |
0.99 |
0 |
0.99 |
-1.00 |
1 |
4,00 |
-90.10 |
|
|
Liquidity ratio / acid ratio |
0.87 |
0 |
0.87 |
0 |
0.87 |
3,00 |
-71.00 |
|
|
Current debt ratio |
101.20 |
-0.61 |
101.82 |
-25.85 |
137.31 |
10,00 |
912 |
|
Liquidity
ratio reprocessed - - - - - - - |
||||||||
|
LONG TERM
STABILITY |
||||||||
|
|
Gearing |
588.81 |
-27.83 |
815.82 |
1662 |
46. 30 |
230,00 |
156 |
|
|
Equity in percentage |
0.93 |
2.20 |
0.91 |
26. 39 |
0.72 |
-217,00 |
0.43 |
|
|
Total debt ratio |
106.63 |
-2.42 |
109.28 |
-20.56 |
137.57 |
11,00 |
869 |
JIC Code 218
Description Additional national joint committee for the employees
JIC Code 324
Description Joint committee for the industry and the trade in diamant
Activity code 46761
Activity description Wholesale of diamonds and other precious stones
Payment expectation days 172.60
Day sales outstanding 150.61
Activity code 46761
Activity description Wholesale of diamonds and other precious stones
Payment expectations
Company result 172.60
Lower 123.48
Median 76.39
Upper 46.98
Day sales outstanding
Company result 150.61
Lower 102.33
Median 54.08
Upper 24.12
Group Structure
No group structure for this company.
Minority Shareholders
No minority shareholders
Minority Interests
No minority interests found
Companies that match this address
no Companies Match this address
Summons
there is no data for this company
Protested Bills
there is no data for this company
Bankruptcy and other legal events
there is no data for this company
Current director details
Name SWAPNIL DINESHCHANDRA SHAH
Position Principal Manager
Start Date 20/08/2010
Street 157 HEISTRAAT ANTWERPEN
Post code 2610
Country Belgium
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.61.52 |
|
UK Pound |
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.