|
Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
H.R.P. DIAM BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 2, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
17.01.2002 |
|
|
|
|
Com. Reg. No.: |
476640974 |
|
|
|
|
Legal Form : |
Private Limited Company (BL/LX) |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
|
|
|
|
No. of Employees : |
Not Available |
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 |
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 476640974
Company name H.R.P.
DIAM BVBA
Address HOVENIERSSTRAAT
2
2018
ANTWERPEN
Number of staff 0
Date of establishment 17/01/2002
Telephone number
Fax number
The business was established over 12 years ago.
The business has 1 employees.
The business has been at the address for over 5 years.
Operating Result in the latest trading period decreased 21%
on the previous trading period.
The business saw an increase in their Cash Balance of 1196%
during the latest trading period
|
DATE OF LATEST
ACCOUNTS |
TURNOVER |
PROFIT BEFORE
TAX |
NET
WORTH |
WORKING
CAPITAL |
|
31/12/2013 |
44,719,452 |
152,292 |
6,053,752 |
6,404,931 |
|
31/12/2012 |
54,100,083 |
156,030 |
5,913,650 |
6,279,121 |
|
31/12/2011 |
56,714,898 |
70,819 |
5,783,453 |
6,181,145 |
Accounts
|
DATE OF LATEST
ACCOUNTS |
BALANCE
TOTAL |
NUMBER OF EMPLOYEES
|
CAPITAL |
CASHFLOW |
|
31/12/2013 |
17,554,582 |
0 |
1,538,600 |
157,894 |
|
31/12/2012 |
21,078,665 |
0 |
1,538,600 |
145,254 |
|
31/12/2011 |
21,479,748 |
1 |
1,538,600 |
51,817 |
Past payments Payment expectation days 35.34
Industry average payment expectation days 125.12
Industry average day sales outstanding 142.36
Day sales outstanding 87.8
Business number 476640974
Company name H.R.P.
DIAM BVBA
Fax number
Date founded 17/01/2002
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 Wholesale
of diamonds and other precious stones
VAT Number
BE.0476.640.974 Check VAT number
Belgian Bullettin of Acts
Publications moniteur
belge
Code -
Description FROM 1
TO 4 EMPLOYEES
Joint Industrial Committee (JIC)
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
Profit & loss
|
Annual
accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average
2013 |
% |
|
Weeks Currency |
52 EUR |
|
52
EUR |
|
52 EUR |
|
|
|
Turnover |
44,71
9,452 |
-17.34 |
54,100,083 |
-4.61 |
56,714,898 |
59,038,813 |
-24.25 |
|
Total
operating expenses |
44,237,369 |
-17.29 |
53,487,426 |
-5.03 |
56,317,837 |
58,553,933 |
-24.45 |
|
Operating
result |
482,083 |
-21.31 |
612,657 |
54.30 |
397,061 |
156,276 |
208 |
|
Total
financial income |
67,883 |
962 |
6,387 |
188 |
2,213 |
62,705 |
8.26 |
|
Total
financial expenses |
397,674 |
-14.11 |
463,013 |
40.97 |
328,455 |
181,276 |
119 |
|
Results
on ordinary operations before taxation |
152,292 |
-2.40 |
156,030 |
120 |
70,819 |
37,970 |
301 |
|
Taxation |
12,190 |
-50.86 |
24,807 |
-27.87 |
34,390 |
21,894 |
-44.32 |
|
Results on ordinary
operations after taxation |
140,102 |
6.77 |
131,223 |
260 |
36,429 |
21,919 |
539 |
|
Extraordinary
items |
0 |
0 |
-1,026 |
- |
0 |
6,704 |
-100 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net
result |
140,102 |
7.61 |
130,197 |
257 |
36,429 |
28,765 |
387 |
|
OTHER
INFORMATION |
|
|
|
|
|
|
|
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
33,444 |
- |
|
Dividends |
- |
- |
- |
- |
- |
231,279 |
- |
|
Director
remuneration |
88,988 |
12.58 |
79,043 |
14.69 |
68,918 |
125,568 |
-29.13 |
|
Employee
costs |
- |
- |
6,668 |
2571 |
250 |
143,607 |
- |
|
Wages and salary |
- |
- |
5,285 |
- |
- |
113,567 |
- |
|
Employee pension costs |
- |
- |
- |
- |
- |
23,129 |
- |
|
Social
security contributions |
- |
- |
980 |
- |
- |
27,848 |
- |
|
Other
employee costs |
0 |
-100 |
402 |
61.22 |
250 |
3,660 |
-100 |
|
Amortization and
depreciation |
17,792 |
18.17 |
15,057 |
-2.15 |
15,388 |
18,031 |
-1.32 |
Balance sheet
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible fixed assets |
0 |
-0 |
-0 |
1,332 |
-100 |
||
|
Tangible fixed assets |
241,650 |
-6.40 |
258,161 |
3.63 |
249,112 |
191,729 |
26.04 |
|
Land
& building |
200,786 |
-5.07 |
211,511 |
-4.85 |
222,284 |
380,588 |
-47.24 |
|
Plant
& machinery |
40,863 |
-12.41 |
46,651 |
227 |
14,224 |
27,166 |
50.42 |
|
Furniture
& Vehicles |
- |
- |
- |
- |
12,604 |
15,443
4,398 |
- |
|
Leasing & Other Similar
Rights |
- |
- |
- |
- |
- |
68,636
20,725 |
- |
|
Other
tangible assets |
0 |
-0 |
-0 |
9,374 |
-100 |
||
|
Financial fixed assets |
- |
- |
- |
- |
- |
225,652 |
- |
|
Total fixed assets |
241,650 |
-6.40 |
258,161 |
3.63 |
249,112 |
331,522 |
-27.11 |
|
Inventories |
5,712,847 |
-14.11 |
6,651,385 |
3.76 |
6,410,474 |
3,040,982 |
87.86 |
|
Raw materials &
consumables |
- |
- |
- |
- |
- |
7,018,384 |
- |
|
Work in progress |
0 |
-0 |
-0 |
1,187 |
-100 |
||
|
Finished
goods |
5,712,847 |
-14.11 |
6,651,385 |
3.76 |
6,410,474 |
2,047,013 |
179 |
|
Other
stocks |
0 |
-0 |
-0 |
436,160 |
-100 |
||
|
Trade debtors |
10,761,389 |
-22.59 |
13,902,696 |
10.92 |
12,533,944 |
4,266,984 |
152 |
|
Cash |
793,263 |
1196 |
61,195 |
-96.91 |
1,982,500 |
482,832,269 |
-99 |
|
other amounts receivable |
5,381 |
-1.30 |
5,452 |
-96.69 |
164,632 |
221,890 |
-97.57 |
|
Miscellaneous current assets |
40,052 |
-79.95 |
199,774 |
43.63 |
139,086 |
-474,984,266 |
0.01 |
|
Total current assets |
17,312,932 |
-16.85 |
20,820,504 |
-1.93 |
21,230,636 |
7,248,535 |
138 |
|
Total Assets |
17,554,582 |
-16.72 |
21,078,665 |
-1.87 |
21,479,748 |
7,543,378
1,242,208 |
132 |
CURRENT LIABILITIES
|
Trade
creditors |
4,283,230 |
-32.95 |
6,388,405 |
-20.87 |
8,073,058 |
2,959,943 |
44.71 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
6,530,876 |
-17.29 |
7,896,061 |
20.34 |
6,561,249 |
4,541,968 127,231 |
43.79 |
|
Current
portion of long term debt |
15,327 |
7.45 |
14,264 |
6.85 |
13,350 |
77,663
13,764 |
-80.27 |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
12,932 |
-50.80 |
26,283 |
15.02 |
22,851 |
8,066
- |
-56.56 |
|
Miscellaneous
current liabilities |
65,637 |
-69.66 |
216,369 |
-42.91 |
378,982 |
-73.06 |
-
- |
|
Total
current liabilities |
10,908,001 |
-24.99 |
14,541,383 |
-3.38 |
15,049,491 |
5,181,605 |
110 |
|
LONG
TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
-
- |
|
Other
long term loans |
589,454 |
-5.48 |
623,633 |
-3.58 |
646,804 |
-49.34 |
-
- |
|
Deffered
taxes |
- |
- |
- |
- |
- |
46,266
28,377 |
- |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
4,497
0 |
-100 |
|
Other
long term liabilities |
3,375 |
- |
0 |
- |
0 |
238,128 |
-98.58 |
|
Total
long term debts SHAREHOLDERS
EQUITY |
592,829 |
-4.94 |
623,633 |
-3.58 |
646,804 |
674,382 |
-12.09 |
|
Issued
share capital |
1,538,600 |
0 |
1,538,600 |
0 |
1,538,600 |
993,503 |
54.87 |
|
Share
premium account |
- |
- |
- |
- |
- |
103,298 |
- |
|
Reserves |
4,515,152 |
3.20 |
4,375,050 |
3.07 |
4,244,853 |
665,573 |
578 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
872,766 |
- |
|
Total
shareholders equity |
6,053,752 |
2.37 |
5,913,650 |
2.25 |
5,783,453 |
1,680,530 |
260 |
|
Working
capital |
6,404,931 |
2.00 |
6,279,121 |
1.59 |
6,181,145 |
2,066,930 |
209 |
|
Cashflow |
157,894 |
8.70 |
145,254 |
180 |
51,817 |
43,405 |
263 |
|
Net
worth |
6,053,752 |
2.37 |
5,913,650 |
2.25 |
5,783,453 |
1,679,198 |
260 |
Ratio analysis
|
Annual
accounts |
31-12-2013 |
change(%) |
31-12-2012 |
change(%) |
31-12-2011 |
Industry average 2013 |
% |
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.34 |
17.24 |
0.29 |
141 |
0.12 |
-8,00 |
4.25 |
|
Return
on capital employed |
2.29 |
-4.18 |
2.39 |
117 |
1.10 |
-8,00 |
28.62 |
|
Return
on total assets employed |
0.87 |
17.57 |
0.74 |
124 |
0.33 |
-8,00 |
10.88 |
|
Return
on net assets employed |
2.52 |
-4.55 |
2.64 |
116 |
1.22 |
-8,00 |
31.50 |
|
Sales
/ net working capital |
6.98 |
-19.03 |
8.62 |
-6.10 |
9.18 |
142,00 |
-99 |
|
Stock
turnover ratio |
12.77 |
3.91 |
12.29 |
8.76 |
11.30 |
76,00 |
-83.20 |
|
Debtor
days |
87.83 |
-6.36 |
93.80 |
16.29 |
80.66 |
142,36 |
-38.30 |
|
Creditor
days SHORT
TERM STABILITY |
35.34 |
-18.93 |
43.59 |
-16.69 |
52.32 |
125,12 |
-71.76 |
|
Current
ratio |
1.59 |
11.19 |
1.43 |
1.42 |
1.41 |
4,00 |
-84.10 |
|
Liquidity
ratio / acid ratio |
1.06 |
9.28 |
0.97 |
-1.02 |
0.98 |
3,00 |
-64.67 |
|
Current
debt ratio |
1.80 |
-26.83 |
2.46 |
-5.38 |
2.60 |
10,00 |
-82.00 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG
TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
117.87 |
-18.32 |
144.31 |
15.58 |
124.86 |
234,00 |
-49.63 |
|
Equity
in percentage |
34.49 |
22.92 |
28.06 |
4.20 |
26.93 |
-222,00 |
15.54 |
|
Total
debt ratio |
1.90 |
-25.78 |
2.56 |
-5.54 |
2.71 |
11,00 |
-82.73 |
Activity code 46761
Activity description Wholesale
of diamonds and other precious stones
industry average credit rating 64.48
Industry average credit limit 140177.31
Suspension of payments / moratorium history
Amount -
Details -
Payment expectations
Payment expectation days 35.34
Day sales outstanding 87.83
Activity code 46761
Activity description Wholesale
of diamonds and other precious stones
Industry average payment expectation days 125.12
Industry average day sales Outstanding 142.36
Industry quartile analysis
Payment expectations
Company result 35.34
Lower 123.48
Median 76.66
Upper 48.07
Company result 87.83
Lower 101.92
Median 54.08
Upper 24.84
Group - Number of Companies
0
Linkages - Number of Companies 0
Number of Countries 0
Group Structure
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Current director details
Name TUSHAR VALLABHBAI VANANI
Position Principal Manager
Start Date 19/08/2014
Street 14 QUINTEN MATSIJSLEI ANTWERPEN
Post code 2018
Country Belgium
Name HITESHKUMAR PREMJI VANANI
Position Principal Manager
Start Date 19/08/2014
Street 14 QUINTEN MATSIJSLEI ANTWERPEN
Post code 2018
Country Belgium
Name JIGNESHKUMAR PREMJI VANANI
Position Principal Manager
Start Date 19/08/2014
Street 14 QUINTEN MATSIJSLEI ANTWERPEN
Post code 2018
Country Belgium
Name JIGNESHKUMAR PREMJI VANINI
Position Principal Manager
Start Date 05/01/2006
Street 14 QUINTEN MATSIJSLEI 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.61.61 |
|
|
1 |
Rs.99.11 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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.