MIRA
INFORM REPORT
|
Report Date : |
29.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
NETALDIAM BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 2-Bus 239, 2018 Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
28.01.1999 |
|
|
|
|
Com. Reg. No.: |
465396201 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and other precious stones |
|
|
|
|
No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the company management.] |
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 : |
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 |
Company summary
Business number 465396201
Company name NETALDIAM BVBA
Address HOVENIERSSTRAAT
2-BUS 239
2018 ANTWERPEN
Number of staff 0
Date of establishment 28/01/1999
Telephone number 032332410
Commentary
|
The business was established
over 15 years ago. |
|
|
No employees are recorded
for this business. |
|
|
The business has been at the
address for over 10 years. |
|
|
The business saw an increase
in their Cash Balance of 237% during the latest trading period. |
|
Accounts
DATE OF LATEST
ACCOUNTS TURNOVER
PROFIT BEFORE TAX NET WORTH WORKING CAPITAL
31/12/2013 24,731,317
197,073 1,382,037 1,669,817
31/12/2012 20,887,910
183,611 1,241,940 1,549,082
31/12/2011 20,535,703
246,685 1,112,053 1,443,174
Accounts
DATE OF LATEST
ACCOUNTS BALANCE
TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2013 8,067,871
0 830,000
157,576
31/12/2012 6,952,579
0 830,000
148,364
31/12/2011 5,640,448
0 830,000
177,534
Trends
Profitability 
Liquidity 
Net worth
Payment expectations
Past payments Payment expectation days
55.75
Industry average payment expectation days 124.39
Industry average day sales outstanding 141.74
Day sales outstanding 100.37
Company information
|
Business number |
465396201 |
Company name |
NETALDIAM BVBA |
|
Fax number |
--- |
Date founded |
28/01/1999 |
|
Company status |
active |
Company type |
Private Limited Company (BL/LX) |
|
Currency |
Euro (€) |
Date of latest accounts |
31/12/2013 |
|
Activity code |
46761 |
Liable for VAT |
yes |
|
Activity
description |
Wholesaler of diamonds and other precious stones |
VAT Number |
BE.0465.396.201 Check VAT number |
|
Belgian
Bullettin of Acts Publications |
moniteur belge |
|
|
Company accounts
Balance Sheets
Assets
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Total fixed assets |
426,438 |
-3.59 |
442,332 |
10.25 |
401,221 |
2981 |
13,019 |
-2.22 |
13,314 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed assets |
421,438 |
-3.63 |
437,332 |
10.38 |
396,221 |
4841 |
8,019 |
-3.55 |
8,314 |
|
Land & building |
416,853 |
-3.69 |
432,810 |
11.25 |
389,057 |
- |
- |
- |
- |
|
Plant & machinery |
3,849 |
-14.87 |
4,522 |
-3.95 |
4,708 |
51.47 |
3,108 |
228 |
947 |
|
Furniture & Vehicles |
736 |
- |
- |
- |
2,456 |
-50.00 |
4,911 |
-33.34 |
7,367 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial fixed assets |
5,000 |
0 |
5,000 |
0 |
5,000 |
0 |
5,000 |
0 |
5,000 |
|
Total current assets |
7,641,433 |
17.38 |
6,510,247 |
24.26 |
5,239,227 |
6.70 |
4,910,070 |
2.85 |
4,774,136 |
|
Inventories |
745,446 |
65.78 |
449,653 |
49.81 |
300,140 |
57.51 |
190,558 |
2.15 |
186,547 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
745,446 |
65.78 |
449,653 |
49.81 |
300,140 |
57.51 |
190,558 |
- |
0 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
-100 |
186,547 |
|
Trade debtors |
6,800,582 |
12.90 |
6,023,287 |
22.55 |
4,915,118 |
4.93 |
4,684,173 |
2.55 |
4,567,837 |
|
Other amounts receivable |
27,700 |
76.50 |
15,693 |
543 |
2,438 |
-81.24 |
12,994 |
973 |
1,210 |
|
Cash |
66,443 |
237 |
19,699 |
-1.40 |
19,978 |
-6.74 |
21,421 |
15.53 |
18,542 |
|
Miscellaneous current assets |
1,262 |
-34.11 |
1,916 |
23.35 |
1,553 |
68.07 |
924 |
- |
0 |
|
Total Assets |
8,067,871 |
16.04 |
6,952,579 |
23.26 |
5,640,448 |
14.57 |
4,923,089 |
2.83 |
4,787,450 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total shareholders’ equity |
1,382,037 |
11.28 |
1,241,940 |
11.68 |
1,112,053 |
18.23 |
940,562 |
227 |
287,426 |
|
Issued
share capital |
830,000 |
0 |
830,000 |
0 |
830,000 |
0 |
830,000 |
4364 |
18,592 |
|
Reserves |
552037 |
3401 |
411,940 |
4605 |
282053 |
155 |
110562 |
-58.87 |
268834 |
|
Creditors
|
6685834 |
17.080 |
5,710,640 |
26.11 |
452395 |
13.71 |
3982527 |
-11.50 |
4500024 |
|
Other
long terms loans |
714,218 |
-4.70 |
749,474 |
2.37 |
732,342 |
95.71 |
374,200 |
149 |
150,000 |
|
Total
long term debts |
714,218 |
-4.70 |
749,474 |
2.37 |
732,342 |
95.71 |
374,200 |
149 |
150,000 |
|
Current
portion of long term debt |
46069 |
-0.43 |
46,269 |
182 |
16,374 |
--- |
--- |
--- |
--- |
|
Financials
debts |
2182508 |
5.76 |
2,063,616 |
87.34 |
1,101,520 |
-1.11 |
1,113,848 |
10.82 |
1,005,063 |
|
Trade
creditors |
3720844 |
31.03 |
2,839,586 |
8.30 |
2,621,981 |
6.85 |
2,453,981 |
-15.50 |
2,904,247 |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
12000 |
55.19 |
7,732 |
-81.08 |
40,878 |
138 |
17,125 |
26.85 |
13,500 |
|
Miscellaneous
current liabilities |
10194 |
157 |
3,962 |
-74.10 |
15,300 |
-34.54 |
23,373 |
-94.53 |
427,214 |
|
Total
current liabilities |
5971616 |
20.37 |
4,961,165 |
30.69 |
3,796,053 |
5.20 |
3,608,327 |
-17.05 |
4,350,024 |
|
Total
Liabilities |
8067871 |
16.04 |
6,952,579 |
23.26 |
5,640,448 |
14.57 |
4,923,089 |
2.83 |
4,787,450 |
Ratio analysis
|
Annual
accounts |
31-12-2013 |
(%) |
31-12-2012 |
(%) |
31-12-2011 |
% |
31-12-2010 |
(%) |
31-12-2009 |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.80 |
-9.09 |
0.88 |
-26.67 |
1.20 |
41.18 |
0.85 |
--- |
--- |
|
Return
on capital employed |
9.40 |
1.95 |
9.22 |
-31.04 |
13.37 |
26.37 |
10.58 |
-44.49 |
19.06 |
|
Return
on total assets employed |
2.44 |
-7.58 |
2.64 |
-39.59 |
4.37 |
54.42 |
2.83 |
62.64 |
1.74 |
|
Return
on net assets employed |
14.26 |
-3.52 |
14.78 |
-33.36 |
22.18 |
49.97 |
14.79 |
-49.02 |
29.01 |
|
Sales
/ net working capital |
14.81 |
9.87 |
13.48 |
-5.27 |
14.23 |
13.66 |
12.52 |
-- |
-- |
|
Stock
turnover ratio |
3.01 |
40.0 |
2.15 |
47.26 |
1.46 |
24.79 |
1.17 |
-- |
-- |
|
Debtor
days |
55.75 |
10.55 |
50.43 |
7.16 |
47.06 |
-15.53 |
55.71 |
-- |
-- |
|
Creditor
days |
100.37 |
-4.64 |
105.25 |
20.48 |
87.36 |
-16.74 |
104.93 |
-- |
-- |
|
Current
ratio |
1.28 |
-2.29 |
1.31 |
-5.07 |
1.38 |
1.47 |
1.36 |
23.64 |
1.10 |
|
Liquidity
ratio / acid ratio |
1.15 |
-5.74 |
1.22 |
-6.15 |
1.30 |
-07.6 |
1.31 |
24.76 |
1.05 |
|
Current
debt ratio |
4.32 |
8.27 |
3.99 |
17.01 |
3.41 |
-11.20 |
3.84 |
-74.62 |
15.13 |
|
Cash
Flow |
157,576 |
6.21 |
148,364 |
-16.43 |
177,534 |
67.24 |
106,155 |
68.27 |
63,087 |
|
Net
Flow |
1,382,037 |
11.28 |
1,241,940 |
11.68 |
1,120,53 |
18.23 |
940,562 |
227 |
28,7426 |
|
Gearing |
212.93 |
-7.51 |
230.23 |
38.38 |
166.38 |
5.16 |
158.21 |
-60.63 |
401.86 |
|
Equity
in percentage |
17.13 |
-4.09 |
17.86 |
-9.43 |
19.72 |
3.19 |
19.11 |
218 |
6.00 |
|
Total
debt ratio |
4.84 |
5.22 |
4.60 |
13.02 |
4.07 |
-3.78 |
4.23 |
-72.99 |
15.66 |
|
Working
Capital |
1,669,817 |
7.79 |
1,549,082 |
7.34 |
1,443,174 |
10.86 |
1,301,743 |
206 |
424112 |
Profit & Loss
|
Annual
accounts |
31-12-2013 |
(%) |
31-12-2012 |
(%) |
31-12-2011 |
% |
31-12-2010 |
(%) |
31-12-2009 |
|
Operating Income |
24,749,117 |
18.40 |
20,903,810 |
1.79 |
20,535,703 |
26.03 |
16,293,766 |
-- |
-- |
|
Turnover |
24,731,317 |
18.40 |
20,887,910 |
1.72 |
2,053,5703 |
26.03 |
16,293,766 |
|
|
|
Total Operating Expenses |
24,359,478 |
18.53 |
20550563 |
1.05 |
20,337,387 |
26.48 |
16079333 |
|
|
|
Gross Operating Margin |
- |
--- |
--- |
--- |
--- |
--- |
--- |
--- |
271,282 |
|
Operating Charges |
24,377,278 |
18.53 |
20,566,463 |
1.13 |
20,337,387 |
26.48 |
16,079,333 |
-- |
--- |
|
amortization & Depreciation |
17,478 |
-5.41 |
18,477 |
205 |
6,043 |
100 |
3,019 |
9.94 |
2,746 |
|
Operating result |
371,839 |
10.22 |
337,347 |
70.11 |
198,316 |
-7.52 |
214,433 |
-19.52 |
266,442 |
|
Total financial income |
1,641 |
-53.00 |
3,491 |
-97.67 |
149,842 |
529 |
23,807 |
264422 |
9 |
|
Total financial expenses |
176,407 |
12.20 |
157,226 |
54.94 |
101,473 |
2.39 |
99,104 |
-45.87 |
183,083 |
|
Results on ordinary operations be fore taxation |
197,073 |
7.33 |
183,611 |
-25.57 |
246,685 |
77.30 |
139,136 |
66.89 |
83,368 |
|
Extra Ordinary Items |
0 |
-- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Results for the year before taxation |
197,073 |
7.33 |
183,611 |
-25.57 |
246,685 |
77.30 |
139,136 |
66.89 |
83,368 |
|
Taxation |
56,975 |
6.05 |
53,724 |
-28.55 |
75,195 |
108 |
36,000 |
56.34 |
23,027 |
|
Results on ordinary Operations after Taxation |
140,098 |
7.86 |
129,887 |
-24.26 |
171,490 |
66.28 |
103,136 |
70.92 |
60,341 |
|
Net Results |
140,098 |
7.86 |
129,887 |
-24.26 |
171,490 |
66.28 |
103,136 |
70.92 |
60,341 |
|
Profit (Loss) for the year to be appropriated |
140,098 |
7.86 |
129,887 |
-24.26 |
171,490 |
66.28 |
103,136 |
70.92 |
60,341 |
Payment Information
Payment expectations
Payment expectation days 55.75
Day sales outstanding 100.37
Industry comparison
Activity code 46761
Activity description Wholesaler of
diamonds and other precious stones
Industry average payment
expectation days 124.39
Industry average day sales
Outstanding 141.74
Industry quartile analysis
Payment expectations
Company result 55.75
Lower 122.66
Median 76.39
Upper 46.98
Day sales outstanding
Company result 100.37
Lower 102.84
Median 54.50
Upper 24.07
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 Devendra
Surname Sojitra
SHAREHOLDER
DETAILS
Start date 28/01/1999
Percentage owned 100%
SHAREHOLDER
ADDRESS
Street name Lange
Herentalsestraat
House number 120
Minor town - Postal town Antwerpen
Post code 2018
Country Belgium
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 DEVENDRA KANTILAL
SOJITRA
Position Principal Manager
Start Date 16/08/2010
Date of birth 10/08/1976
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.61.97 |
|
UK Pound |
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.