MIRA INFORM REPORT

 

 

Report Date :

12.11.2014

 

IDENTIFICATION DETAILS

 

Name :

MADHAV GEMS BVBA

 

 

Registered Office :

Quinten Matsijslei 11-Bus 44 2018 Antwerpen

 

 

Country :

Belgium

 

 

Date of Incorporation :

10.07.2013

 

 

Com. Reg. No.:

536783251

 

 

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 :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

 

--

NB

New Business

--

 

Status :

New Company

Payment Behaviour :

Unknown

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

A1

 

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

 

 

 

 

Company name and address

 

Business number         536783251

Company name           MADHAV GEMS BVBA

Address                        QUINTEN MATSIJSLEI 11-BUS 44

2018 ANTWERPEN

Date of establishment 10/07/2013

Telephone number      033346323

 

 

Commentary

 

No employees are recorded for this business.

The business has been at the address for over 16 months.

 

 

Accounts

 

No key Financials Registered

 

 

Payment expectations

 

Past payments                                     Payment expectation days      -

Industry average payment

expectation days                     122.90  Industry average day sales

outstanding                              140.69

 

 

Company information

 

Business number         536783251                   

Company name           MADHAV GEMS BVBA

Date founded               10/07/2013

Company status           active

Company type                         Private Limited Company (BL/LX)

Currency                      Euro (€)

Activity code                46761

Liable for VAT                         yes

Activity description      Wholesale of diamonds and other precious stones

 

 

 

 

Joint Industrial Committee (JIC)

 

Significant Events

Event Date                   09/05/2014

Event Description

Event Details                Neerlegging quasi-inbreng.

 

 

Industry comparison

 

Activity code                46761

Activity description      Wholesale of diamonds and other precious stones

 

 

Payment Information

 

Industry comparison

Activity code                            46761

Activity description                  Wholesale of diamonds and other precious stones

Industry average payment

expectation days                     122.90

Industry average day sales

Outstanding                             140.69

 

 

Industry quartile analysis

 

Payment expectations

Company result -

Lower                          122.66

Median                        75.38

Upper                           46.73

 

 

Day sales outstanding

 

Company result -

Lower                         101.92

Median                                    54.26

Upper                           24.45


 

Shareholder Details

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

 

Individual Shareholders

 

SHAREHOLDER NAME

Forename                    Lakshmanbhai   Middle name -

Surname                      Gol

 

SHAREHOLDER DETAILS

Start date                     10/07/2013        End date -

Percentage owned      50%

 

SHAREHOLDER ADDRESS

Street name     -          House number   -

Minor town      -          Postal town       -

Post code         -          Country            India

 

SHAREHOLDER NAME

Forename        Sanjay Middle name   -

Surname          Bhatol

 

SHAREHOLDER DETAILS

Start date                     10/07/2013        End date -

Percentage owned      50%

 

SHAREHOLDER ADDRESS

Street name     -          House number -

Minor town      -          Postal town      -

Post code         -          Country            India

 

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

 

 

Director details

 

Current director details

 

Name               MAVJIBHAI LAVJIBHAI SAVANI

Zelliksesteenweg 12

1082 Brussel

Position           Principal Manager

Start Date        10/07/2013

Street               120 LANGE HERENTALSESTRAAT ANTWERPEN

Post code         2018

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.61.55

UK Pound

1

Rs.97.52

Euro

1

Rs.76.48

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.