|
Report Date : |
28.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAMIR GEMS NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 30, 2018 Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.04.1982 |
|
|
|
|
Com. Reg. No.: |
423673729 |
|
|
|
|
Legal Form : |
Public Limited Liability |
|
|
|
|
Line of Business : |
Wholesaler of watches and jewellery |
|
|
|
|
No. of Employees : |
02 (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 : |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Belgium |
A1 |
A2 |
|
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 423673729
Company name SAMIR GEMS NV
Address HOVENIERSSTRAAT
30
2018 ANTWERPEN
Number of staff 2 (31.12.2012)
Date of establishment 01/04/1982
Telephone number 032275853
Fax number 032264549
The business was established over 31 years ago.
The business has 2 employees.
The business has been at the address for over 3 years.
A 38% growth in Total Assets occurred during the latest trading period.
The business saw an increase in their Cash Balance of 188% during the latest trading period.
|
Date of
latest accounts |
Turnover |
Profit
Before Tax |
Net worth |
Working
capital |
|
31/12/2012 |
191,552,565 |
330,932 |
24,995,866 |
26,673,403 |
|
31/12/2011 |
174,837,311 |
295,488 |
24,800,692 |
26,911,703 |
|
31/12/2010 |
113,159,559 |
159,690 |
24,609,401 |
26,660,445 |
Accounts
|
Date of latest accounts |
Balance
Total |
Number of
Employees |
Capital |
Cashflow |
|
31/12/2012 |
93,805,441 |
2 |
20,000,000 |
293,861 |
|
31/12/2011 |
67,971,294 |
2 |
20,000,000 |
292,956 |
|
31/12/2010 |
47,948,150 |
2 |
20,000,000 |
178,367 |
Past payments
Payment expectation days 24.18
Industry average payment
expectation days 256.22
Day sales outstanding 105.05
Industry average day sales
outstanding 298.84
Bill amount -
NSSO details
Date of summons -
Business number 423673729
Company name SAMIR
GEMS NV
Fax number 032264549
Date founded 01/04/1982
Company status active
Company type Public
Limited Liability
Company
(BE)
Currency Euro
(€)
Date of latest accounts 31/12/2012
Activity code 46480
Liable for VAT yes
Activity description Wholesale
of watches and jewellery
Social Balance Sheet Details
Social Balance Sheet Total
During the reporting year
ended 31-12-2012
Full-time Employees 2
Part-time Employees 1
Total Fte Employees 3
Number of hours worked
Full-time Employees 2,690
Part-time Employees 1,040
Total 3,730
Personnel Charges
Full-time Employees 52,525
Part-time Employees 20,890
Total 73,416
Benefits In Addition To Wages –
During the previous reporting year
Average number employees in Fte 3
Actual working hours 4,824
Personnel Charges 85,382
Code -
Description FROM 1 TO 4
EMPLOYEES
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
category
Event Date 15/05/2013
Event Description
Event Details De heer Samir
Bhansali schrijft in op 61 nieuwe aandelen en de heer Anjal Bhansali
schrijft in op 671
nieuwe aandelen.
|
Annual accounts |
31.12.2012 % |
31.12.2011 % |
31.12.2010 % |
industry average 2012 |
% |
|
Weeks |
52 |
52 |
52 |
|
|
|
Currency |
EUR |
EUR |
EUR |
|
|
|
Turnover |
191,552,565 9.56
|
174,837,311 54.51 |
113,159,559 |
39,029,323 |
390 |
|
Total
operating expenses |
189,863,922 9.62
|
173,199,565 54.59 |
112,040,485 |
38,660,226 |
391 |
|
Operating
result |
1,688,643
3.11 |
1,637,746
46.35 |
1,119,074 |
109,625 |
1440 |
|
Total
financial income |
1,153
-65.76 |
3,367
-24.10 |
4,436 |
66,253 |
-98.26 |
|
Total
financial expenses |
1,358,864
0.98 |
1,345,625
39.61 |
963,820 |
248,929 |
445 |
|
| Results on ordinary operations
before taxation |
330,932
11.99 |
295,488
85.04 |
159,690 |
-76,921 |
430 |
|
Taxation |
135,758
30.29 |
104,197
96.34 |
53,070 |
15,383 |
782 |
|
Results on
ordinary operations after taxation |
195,174
2.03 |
191,291
79.41 |
106,620 |
-87,085 |
224 |
|
Extraordinarv
items |
0 -- |
-- 0 |
0 |
-22,121 |
0 |
|
Other
appropriations |
0.00 -- |
-- 0.00 |
0 |
- |
- |
|
Net result |
195,174
2.03 |
191,291
79.41 |
106,620 |
-109,133 |
178 |
|
|
other
information |
|
|
|
|
|
Gross
Operating Margin |
- |
- |
- |
63,396 |
- |
|
Dividends |
- |
- |
- |
137,637 |
- |
|
Director
remuneration |
102,036
-8.85 |
111,938
4.70 |
106,913 |
114,347 |
-10.77 |
|
Employee
costs |
73,416
-14.01 |
85,382
7.00 |
79,793 |
222,604 |
-67.02 |
|
Wages and salary |
59,601
-16.46 |
71,344 8.65 |
65,666 |
172,827 |
-65.51 |
|
Employee pension costs |
- |
- |
- |
3,154 |
- |
|
Social security contributions |
12,212
-7.88 |
13,256 7.70 |
12,308 |
46,223 |
-73.58 |
|
Other employee costs |
1,603 104 |
782
-57.00 |
1,819 |
6,114 |
-73.78 |
|
Amortization and depreciation |
98,687
-2.93 |
101,664 41.70 |
71,747 |
23,816 |
314 |
Annual accounts 31.12.2012 % 31.12.2011 % 31.12.2010 % industry
average 2012 %
Weeks 52 52 52
Currency EUR EUR EUR
Tangible fixed assets 3,299,814 -1.62 3,354,002 -2.76 3,449,242 201,019 1541
Land & building 3,158,060 -0.86 3,185,433 -2.09 3,253,334 376,355 739
Plant & machinery 11,501 -19.98 14,372 -21.51 18,311 24,305 -52.68
Furniture & Vehicles 130,254 -15.53 154,196 -13.18 177,597 20,845 8,230 524
Intangible fixed assets 0 - 0 - 0 4,058 -100
Other tangible assets 0 - 0 - 0 10,421 -100
Financial fixed assets 262,264 2038 12,264 0.00 12,264 581,115 -54.87
Total fixed assets 3,562,078 5.82 3,366,266 -2.75 3,461,506 557,112 539
Inventories 33,947,904 47.29 23,047,918 49.94 15,371,592 1,932,521 1656
Raw materials & consumables - - - - - 5,256,220 -
Work in progress 0 - 0 - 0 352 -100
Finished goods 33,947,904 47.29 23,047,918 49.94 15,371,592 1,188,337 2756
Other stocks 0 - 0 - 0 295,544 -100
Trade debtors 55,129,437 34.84 40,885,500 42.48 28,694,915 2,667,060 1967
Cash 901,577 188 312,953 180 111,570 184,057 389
other amounts receivable 263,895 -26.42 358,657 16.23 308,567 392,421 -32.75
Miscellaneous current assets 550 - 0 - 0 57,580 -99
Total current assets 90,243,362 39.68 64,605,028 45.22 44,486,644 4,825,819 1770
|
Trade
creditors |
12,576,255 |
122 |
5,659,278 |
221 |
1,758,047 |
1,352,020 |
830 |
|
Short term
group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
50,669,461 |
59.52
31,764,694 |
100 |
15,830,264 |
5,094,423
37,143 |
894 |
|
|
Current
portion of long term debt |
139,689 |
-13.22
160,962 |
-13.14
185,308 |
100,793 16,884 |
38.59 |
||
|
Amounts Payable for Taxes.
Remuneration & Social Security |
127,404 |
231 |
38,460 |
314 |
9,286 |
10,916- |
209 |
|
Miscellaneous
current liabilities |
57,151 |
-18.28
69,931 |
61.53 |
43,294 |
-88.26 |
-- |
|
|
Total
current liabilities |
63,569,959 |
68.65 |
37,693,325 |
111 |
17,826,199
3,643,205 |
1644 |
|
Long term
debts and liabilities
|
Long term
group loans |
- |
- |
- |
- |
- |
- |
-- |
|
Other long
term loans |
5,239,615 |
-4.34 |
5,477,276 |
-0.64 |
5,512,550 |
450 |
-- |
|
Deffered
taxes |
- |
- |
- |
- |
- |
41,956
23,311 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
15,054 0 |
-100 |
|
Other long
term liabilities |
0 |
- |
0 |
- |
0 |
266,905 |
-100 |
|
Total long
term debts |
5,239,615 |
-4.34 |
5,477,276 |
-0.64 |
5,512,550 |
659,913 |
693 |
shareholders
equity
|
Issued
share capital |
20,000,000 |
0 |
20,000,000 |
0 |
20,000,000
683,338 |
2826 |
|
|
Share
premium account |
- |
- |
- |
- |
- |
255,692 |
- |
|
Reserves |
4,672,866 |
4.36 |
4,477,692 |
4.46 |
4,286,401 |
311,470 |
1400 |
|
Revaluation
reserve |
323,000 |
0 |
323,000 |
0 |
323,000 |
526,518 |
-38.65 |
|
Total
shareholders equity |
24,995,866 |
0.79 |
24,800,692 |
0.78 |
24,609,401 |
1,011,534 |
2371 |
|
Working
capital |
26,673,403 |
-0.89 |
26,911,703
0.94 |
26,660,445 |
1,182,614 |
2155 |
|
|
Cashflow |
293,861 |
0.31 |
292,956 |
64.24 |
178,367 |
-89,631 |
327 |
|
Net worth |
24,995,866 |
0.79 |
24,800,692
0.78 |
24,609,401 |
1,007,476 |
2381 |
|
|
Annual
Accounts |
31.12.2012 |
% |
31.121.2011 |
% |
31.12.2010 |
Industry
Average |
% |
|
Profit
Before Tax |
0.17 |
0 |
0.17 |
21.43 |
0.14 |
-122,00 |
0.14 |
|
Return on
capital employed |
1.09 |
11.22 |
0.98 |
84.91 |
0.53 |
333,00 |
-99 |
|
Return on total assets employed |
0.35 |
-18.60 |
0.43 |
30.30 |
0.33 |
-11,00 |
3.18 |
|
Return on net assets employed |
1.32 |
10.92 |
1.19 |
83.08 |
0.65 |
336,00 |
-99 |
|
Sales /
net working capital |
7.18 |
10.46 |
6.50 |
53.30 |
4.24 |
1,00 |
-99 |
|
Stock
turnover ratio |
17.72 |
34.45 |
13.18 |
-2.95 |
13.58 |
629,00 |
-97.18 |
|
Debtor days |
105.05 |
23.08 |
85.35 |
-7.79 |
92.56 |
232,00 |
-54.72 |
|
Creditor days |
24.18 |
102 |
11.93 |
108 |
5.73 |
154,00 |
-84.30 |
short term
stability
|
Current
ratio |
1.42 |
-16.96 |
1.71 |
-31.60 |
2.50 |
66,00 |
-98.35 |
|
Liquidity
ratio / acid ratio |
0.89 |
-19.09 |
1.10 |
-32.52 |
1.63 |
59,00 |
-98.49 |
|
Current
debt ratio |
2.54 |
67.11 |
1.52 |
111 |
0.72 |
86,00 |
-97.05 |
|
Liquidity
ratio reprocessed |
: |
- |
- |
- |
- |
- |
- |
Long term
stability
|
, Gearing |
224.23 |
48.68 |
150.81 |
72.39 |
87.48 |
261,00 |
-14.09 |
|
Equity in
percentage |
26.65 |
-26.97 |
36.49 |
-28.91 |
51.33 |
-1.227,00 |
2.17 |
|
Total debt
ratio |
2.75 |
58.05 |
1.74 |
83.16 |
0.95 |
86,00 |
-96.80 |
Activity code 6480
Activity description Wholesale
of watches and jewellery
Amount -
Details -
Payment expectations
Payment expectation days 24.18
Day sales outstanding 105.05
Activity code 46480
Activity description Wholesale
of watches and jewellery
Industry average payment
expectation days 256.22
Industry average day sales
outstanding 298.84
Payment expectations
Company result 24.18
Lower 125.80
Median 57.54
Upper 17.14
Day sales outstanding
Company result 105.05
Lower 123.34
Median 55.69
Upper 22.32
Group - Number of Companies 0
Linkages - Number of Companies 0
Number of Countries 0
Shareholder Name
Forename Anjal
Middle name -
Surname Bhansali
Shareholder Details
Start date 03/06/2013(estimated)
End date -
Percentage owned -
Shareholder Address
Street name Flamingolaan
House number 5
Minor town Wilrijk
Postal town Antwerpen
Post code 2610
Country Belgium
Shareholder Name
Forename Samir
Middle name -
Surname Bhansali
Shareholder Details
Start date 03/11/1999(estimated)
End date -
Percentage owned -
Shareholder Address
Street name Flamingolaan
House number 5
Minor town Wilrijk
Postal town Antwerpen
Post code 2610
Country Belgium
Group - Number of Companies 0
Linkages - Number of Companies 0
Number of Countries 0
there is no data for this company
Current director
details
Name SAMIR JAYANTILAL BHANSALI
Position Director
Start Date 27/03/1996
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2610
Country Belgium
Name SAMIR
JAYANTILAL BHANSALI
Position Chairman
of the Board
Start Date 27/03/1996
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2610
Country Belgium
Name SAMIR
JAYANTILAL BHANSALI
Position Managing
Director
Start Date 28/04/2007
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2610
Country Belgium
Name ANJAL
BHANSALI
Position Managing
Director
Start Date 27/04/2013
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2610
Country Belgium
Name ANJAL
BHANSALI
Position Director
Start Date 27/04/2013
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2610
Country Belgium
Name SUNIL
ARVINDKUMAR SHAH
Position Director
Start Date 28/04/2007
End Date 27/04/2013
Street 102
BELGIËLEI ANTWERPEN
Post code 2018
Country Belgium
Name MEERA
ZAVERI
Position Director
Start Date 28/04/2007
End Date 28/04/2013
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2018
Country Belgium
Name ZAVERI
MEERA
Position Director
Start Date 28/04/2007
End Date 31/12/2010
Street 5
FLAMINGOLAAN 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.61.87 |
|
|
1 |
Rs.97.69 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.