MIRA INFORM REPORT

Report Date :

16.10.2014

IDENTIFICATION DETAILS

Name :	ABHIDIMON BVBA
Registered Office :	Hoveniersstraat 30 2018 Antwerpen
Country :	Belgium
Financials (as on) :	31.12.2012
Date of Incorporation :	09.01.1997
Com. Reg. No.:	459870763
Legal Form :	Private Limited Company (BL/LX)
LINE OF BUSINESS :	WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES
No. of Employees	1

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 – 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 summary

Business number 459870763

Company name ABHIDIMON BVBA

Address HOVENIERSSTRAAT

30

2018 ANTWERPEN

Number of staff 1

Date of establishment 09/01/1997

Telephone number 032263989

Fax number 032265356

Commentary

The business was established over 17 years ago.

The business has 1 employees.

The business has been at the address for over 10 years.

Operating Result in the latest trading period increased 36% on the previous trading period.

Pre-tax profits decreased by 29% compared to the previous trading period.

The business saw an increase in their Cash Balance of 28% during the latest trading period.

Turnover in the latest trading period decreased 29% on the previous trading period.

Accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2012	30,213,776	91,554	6,137,681	5,488,470
31/12/2011	42,963,632	130,496	6,068,823	5,380,808
31/12/2010	32,159,672	96,817	5,981,086	5,307,664

Accounts

DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2012	21,507,591	1	18,592	112,258
31/12/2011	21,766,733	1	18,592	127,906
31/12/2010	22,413,684	1	18,592	88,098

Payment expectations

Past payments		Payment expectation days	33.17
Industry average payment	164.15	Industry average day sales	119.90
expectation days		outstanding
Day sales outstanding	171.81

Court data summary

BANKRUPTCY DETAILS
Court action type	no
PROTESTED BILLS

Company information

Business number	459870763	Company name	ABHIDIMON BVBA
Fax number	032265356	Date founded	09/01/1997
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	Wholesale of diamonds and other precious stones	VAT Number	BE.0459.870.763
Belgian Bullettin of Acts Publications	moniteur belge
Contractor details			Check Article 30 Bis
Registered contractor number	-
Contractor description	-

Social Balance Sheet Details

Social Balance Sheet		Total
During the reporting year ended 31-12-2012
Full-time Employees		1
Part-time Employees		-
Total Fte Employees		1
Number of hours worked
Full-time Employees		1,740
Part-time Employees		-
Total		1,740
Personnel Charges
Full-time Employees		37,520
Part-time Employees		-
Total		37,520
Benefits In Addition To Wages		-
During the previous reporting year
Average number employees in Fte		1
Actual working hours		1,748
Personnel Charges		35,394
Benefits In Addition To Wages		-
Type of Contract	Full-Time	Part-Time	Total Fte
Unlimited Duration Contracts	1	-	1
Limited Duration Contracts	-	-	-
Contracts For Specific Work	-	-	-
Contracts Regarding Substitution	-	-	-
Gender and Education Level
Men	Full-Time	Part-Time	Total Fte
Primary education	-	-	-
Secondairy education	-	-	-
Higher education (non university)	-	-	-
Higher education (university)	-	-	-
Women	Full-Time	Part-Time	Total Fte
Primary education	-	-	-
Secondairy education	1	-	1
Higher education (non university)	-	-	-
Higher education (university)	-	-	-
Working Category	Full-Time	Part-Time	Total Fte
Management	-	-	-
White collar worker	1	-	1
Blue collar worker	-	-	-
Other	-	-	-
Temporary personnel		Total
Average number of temporary staff		-
Actual working hours		-
Cost of temporary staff		-
New staff and leavers	Full-Time	Part-Time	Total Fte
New Starters	-	-	-
Leavers	-	-	-
Total of formal continuing vocational training initiatives for workers paid by the employer		Male	Female
Number of employees		-	-
Number of training hours		-	-
Net costs for enterprise		-	-
Total of less formal and informal continuing vocational training initiatives for workers paid by the employer		Male	Female
Number of employees		-	-
Number of training hours		-	-
Net costs for enterprise		-	-
Total of initial training initiatives at the expense of the employer		Male	Female
Number of employees		-	-
Number of training hours		-	-
Net costs for enterprise		-	-

Personnel (NSSO classification)

Code	-
Description	FROM 1 TO 4 EMPLOYEES

Joint Industrial Committee (JIC)

JIC Code	218
Description	Additional national joint committee for the employees
category

Company accounts

comparison mode Export accounts to CSV

average 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	30,213,776	29.68	42,963,632	33.59	32,159,672	46,537,630	35.08
Total operating expenses	29,825,752	30.12	42,680,150	34.22	31,798,292	46,145,645	35.37
Operating result	388,024	36.88	283,482	-21.56	361,380	147,590	162
Total financial income	1	-99	93,044	112001	83	97,743	-99
Total financial expenses	296,471	20.50	246,029	-7.03	264,646	204,361	45.07
Results on ordinary operations before taxation	91,554	29.84	130,496	34.79	96,817	32,848	178
Taxation	31,696	25.87	42,759	76.83	24,181	20,918	51.53
Results on ordinary operations after taxation	59,858	31.78	87,737	20.79	72,636	18,016	232
Extraordinary items	9,000	-	0	0	-17,207	-4,395	204
Other appropriations	0.00	-	0	-	0	-	-
Net result	68,858	21.52	87,737	58.29	55,429	13,640	404
OTHER INFORMATION
Dividends	-	-	-	-	-	172,177	-
Director remuneration	148,800	0	148,800	0	148,800	114,302	30.18
Employee costs	37,520	6.01	35,394	5.63	33,507	125,948	70.21
Wages and salary	29,877	5.57	28,300	4.13	27,178	105,678	71.73
Employee pension costs	-	-	-	-	-	14,428	-
Social security contributions	6,776	7.03	6,331	11.01	5,703	26,585	74.51
Other employee costs	867	13.67	763	21.88	626	4,360	80.11
Amortization and depreciation	43,400	8.04	40,169	22.96	32,669	17,895	142

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	1,553	-100
Tangible fixed assets	648,811	-5.64	687,615	2.17	673,022	185,189	250
Land & building	606,383	-4.63	635,800	-4.42	665,218	362,988	67.05
Plant & machinery	7,094	86.49	3,804	-1.37	3,857	22,664	68.70
Furniture & Vehicles	35,334	26.40	48,011	1116	3,947	17,327 5,364	103
Leasing & Other Similar Rights	-	-	-	-	-	142,153 32,369	-
Other tangible assets	0	-	0	-	0	7,634	-100
Financial fixed assets	400	0	400	0	400	307,703	-99
Total fixed assets	649,211	-5.64	688,015	2.17	673,422	396,856	63.59
Inventories	5,494,682	26.93	7,520,058	-2.28	7,695,702	3,093,934	77.60
Raw materials & consumables	-	-	-	-	-	7,209,884	-
Work in progress	0	-	0	-	0	2,399	-100
Finished goods	5,494,682	26.93	7,520,058	-2.28	7,695,702	1,982,203	177
Other stocks	0	-	0	-	0	571,885	-100
Trade debtors	14,222,315	12.29	12,665,440	-7.25	13,655,791	4,167,122	241
Cash	1,132,878	28.27	883,208	129	385,301	226,208	400
other amounts receivable	3,476	-6.94	3,735	7.70	3,468	185,906	98.13
Miscellaneous current assets	5,030	19.86	6,277	-	0	18,028	72.10
Total current assets	20,858,380	-1.05	21,078,718	-3.04	21,740,262	7,215,183	189
Total Assets	21,507,591	-1.19	21,766,733	-2.89	22,413,684	7,579,247 1,446,080	183
CURRENT LIABILITIES
Trade creditors	2,710,683	37.06	4,306,960	-6.12	4,587,612	3,040,360	10.84
Short term group loans	-	-	-	-	-	-	-
Financial debts	11,643,465	14.43	10,174,756	-4.58	10,663,032	4,261,350 189,666	173
Current portion of long term debt	-	-	-	-	-	110,204 15,373	-
Amounts Payable for Taxes, Remuneration & Social Security	10,838	77.22	47,582	466	8,404	9,709 -	68.08
Miscellaneous current liabilities	1,004,924	14.01	1,168,612	-0.42	1,173,550	238	- -
Total current liabilities	15,369,910	-2.09	15,697,910	-4.47	16,432,598	5,342,128	187
LONG TERM DEBTS AND LIABILITIES
Long term group loans	-	-	-	-	-	-	- -
Other long term loans	-	-	-	-	-	-	- -
Deffered taxes	-	-	-	-	-	37,626 26,358	-
Provisions for Liabilities & Charges	0	-	0	-	0	3,184 0	-100
Other long term liabilities	0	-	0	-	0	128,672	-100
Total long term debts	0	-	0	-	0	559,214	-100
SHAREHOLDERS EQUITY
Issued share capital	18,592	0.00	18,592	0	18,592	943,974	98.03
Share premium account	-	-	-	-	-	109,362	-
Reserves	6,119,089	1.14	6,050,231	1.47	5,962,494	690,619	786
Revaluation reserve	-	-	-	-	-	939,206	-
Total shareholders equity	6,137,681	1.13	6,068,823	1.47	5,981,086	1,664,274	268
Working capital	5,488,470	2.00	5,380,808	1.38	5,307,664	1,873,055	193
Cashflow	112,258	12.23	127,906	45.19	88,098	28,425	294
Net worth	6,137,681	1.13	6,068,823	1.47	5,981,086	1,661,040	269

Ratio

Annual accounts	31-12-2012	change(%)	31-12-2011	change(%)	31-12-2010	Industry average 2012	%
TRADING PERFORMANCE
Profit Before Tax	0.30	0	0.30	0	0.30	-25,00	1.20
Return on capital employed	1.49	-30.70	2.15	32.72	1.62	29,00	-94.86
Return on total assets employed	0.43	-28.33	0.60	39.53	0.43	-201,00	0.21
Return on net assets employed	1.49	-30.70	2.15	32.72	1.62	19,00	-92.16
Sales / net working capital	5.50	-31.08	7.98	31.68	6.06	45,00	-99
Stock turnover ratio	18.19	3.94	17.50	-26.87	23.93	111,00	-83.61
Debtor days	171.81	59.67	107.60	-30.58	154.99	133,00	29.18
Creditor days	33.17	-9.94	36.83	-30.06	52.66	122,00	-72.81
SHORT TERM STABILITY
Current ratio	1.36	1.49	1.34	1.52	1.32	7,00	-84.89
Liquidity ratio / acid ratio	1	16.28	0.86	1.18	0.85	4,00	-75.00
Current debt ratio	2.50	-3.47	2.59	-5.82	2.75	9,00	-72.22
Liquidity ratio reprocessed	-	-	-	-	-	-	-
LONG TERM STABILITY
Gearing	189.70	13.15	167.66	-5.96	178.28	360,00	-47.31
Equity in percentage	28.54	2.37	27.88	4.50	26.68	-3.211,00	0.89
Total debt ratio	2.50	-3.47	2.59	-5.82	2.75	10,00	-75.00

Industry comparison

Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
industry average credit rating	64.48
Industry average credit limit	140177.31

Payment Information

Suspension of payments / moratorium history

Amount	-
Details	-
Payment expectations
Payment expectation days	33.17
Day sales outstanding	171.81

Industry comparison

Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment expectation days	164.15
Industry average day sales outstanding	119.90

Industry quartile analysis

Payment expectations
Company result	33.17
Lower	134.34
Median	84.60
Upper	45.29

Day sales outstanding
Company result	171.81
Lower	112.48
Median	58.56
Upper	28.09

Shareholder Details

Summary

Group - Number of Companies	0
Linkages - Number of Companies	0
Number of Countries	0

Group Structure

Click the company to view / order a report. No group structure for this company.

Minority Shareholders

No minority shareholders found

Minority Interests

No minority interests found

Court data

Bankruptcy Data

There is no data for this company

Director details

Name	JAYESH MEHTA
Position	Principal Manager
Start Date	09/09/2010
Street	143 BELGIELEI ANTWERPEN
Post code	2018
Country	Belgium
Name	ATULKUMAR RAJNIKANT MEHTA
Position	Principal Manager
Start Date	09/09/2010
Street	40 ANGELUS RONCALLILAAN ANTWERPEN
Post code	2610
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.11
UK Pound	1	Rs.98.15
Euro	1	Rs.77.68

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIT

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%)

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