MIRA INFORM REPORT

 

 

Report Date :

31.10.2014

 

IDENTIFICATION DETAILS

 

Name :

SHANI IMPEX BVBA

 

 

Registered Office :

Hoveniersstraat 2 Box 405 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

27.10.2004

 

 

Com. Reg. No.:

869693684

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

WHOLESALER OF DIAMONDS AND OTHER PRECIOUS STONES

 

 

No of Employees :

Not Available 

 

 

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 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                     869693684

Company name                        SHANI IMPEX BVBA

Address                                   HOVENIERSSTRAAT 2

Box 405 2018 Antwerpen

2018 ANTWERPEN

Number of staff                        0

Date of establishment               27/10/2004

Telephone number                   0487938098

 

 

Commentary                                                                                                                                  

                                   

The business was established over 9 years ago.

 

No employees are recorded for this business.

 

The business has been at the address for over 7 years.

 

Operating Result in the latest trading period decreased 30% on the previous trading period.

Net Worth increased by 1601% during the latest trading period.

Pre-tax profits increased by 37% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 71% during the latest trading period.

 

 

Accounts

 

DATE OF LATEST

ACCOUNTS                  PROFIT BEFORE TAX             NET WORTH                 WORKING CAPITAL

31/12/2012                    55,421                                      1,062,908                      1,026,860

31/12/2011                    40,356                                      62,457                          46,430

31/12/2010                    44,476                                      55,929                          32,235

 

Accounts

 

DATE OF LATEST

ACCOUNTS                  BALANCE TOTAL         CAPITAL                      CASHFLOW

31/12/2012                    2,948,760                      1,000,000                      59,794

31/12/2011                    2,748,373                      18,600                          44,195

31/12/2010                    2,445,423                      18,600                          45,172

 

 

Payment expectations

 

Past payments

Payment expectation days                                                                                                                 -              

Industry average payment expectation days                                                                                      165.08   

Industry average day sales outstanding                                                                                             126.18     

 

 

Company information                                   

                                               

Business number

869693684

Company name

"SHANI IMPEX" BVBA

 

 

Date founded

27/10/2004

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

Wholesaler of diamonds and other precious stones

VAT Number

BE.0869.693.684

Check VAT number

Belgian Bullettin of Acts Publications

moniteur belge

 

 

 

 

COMPANY ACCOUNTS

 

Comparison Mode

·         Average                              Median                                                 Export accounts to CSV 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

-

-

-

-

-

46,485,458

-

Total operating expenses

-

-

-

-

-

46,114,879

-

Operating result

66,281

-30.59

95,489

-72.44

346,502

141,119

-53.03

Total financial income

267,018

22.23

218,447

-38.94

357,737

98,884

170

Total financial expenses

277,878

1.57

273,580

-58.53

659,763

206,523

34.55

Results on ordinary operations before taxation

55,421

37.33

40,356

-9.26

44,476

25,299

119

Taxation

6,370

66.42

3,828

-44.95

6,954

20,807

-69.38

Results on ordinary operations after taxation

49,051

34.28

36,528

-2.65

37,522

10,494

367

Extraordinary items

0

-

0

-

0

-3,973

0

Other appropriations

0.00

-

0.00

-

0.00

-

-

Net result

OTHER INFORMATION

49,051

34.28

36,528

-2.65

37,522

6,539

650

Gross Operating Margin

78,938

-24.68

1 04,802

-70.47

354,939

56,922

38.68

Dividends

-

-

-

-

-

172,177

-

Director remuneration

-

-

-

-

-

112,544

-

Employee costs

-

-

-

-

-

125,946

-

Wages and salary

-

-

-

-

-

1 05,550

-

Employee pension costs

-

-

-

-

-

14,428

-

Social security contributions

-

-

-

-

-

26,656

-

Other employee costs

0

-

0

-

0

4,349

-100

Amortization and depreciation

10,743

40.13

7,667

0.23

7,649

17,831

-39.75

 

 

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

1,573

-100

Tangible fixed assets

34,173

141

14,152

-35.14

21,819

184,117

-81.44

Land & building

-

-

-

-

-

362,988

-

Plant & machinery

31,840

412

6,218

-24.95

8,285

22,615

40.79

Furniture & Vehicles

2,333

-70.59

7,933

-41.38

13,533

17,295 5,364

-86.51

Leasing & Other Similar Rights

-

-

-

-

-

142,153 32,369

-

Other tangible assets

0

-

0

-

0

7,596

-100

Financial fixed assets

1,875

0

1,875

0

1,875

306,761

-99

Total fixed assets

36,048

124

16,027

-32.36

23,694

394,708

-90.87

Inventories

1,831,027

79.33

1,021,056

-3.14

1,054,181

3,105,524

-41.04

Raw materials & consumables

-

-

-

-

-

7,209,884

-

Work in progress

0

-

0

-

0

2,387

-100

Finished goods

0

-

0

-

0

1,996,655

-100

Other stocks

1,831,027

79.33

1,021,056

-3.14

1,054,181

569,977

221

Trade debtors

824,110

5.54

780,823

19.66

652,527

4,243,347

-80.58

Cash

192,548

-71.93

685,979

45.89

470,213

227,473

-15.35

other amounts receivable

58,317

-76.09

243,929

-0.12

244,226

209,176

-72.12

Miscellaneous current assets

6,711

1098

560

-3.95

583

18,254

-63.23

Total current assets

2,912,712

6.60

2,732,346

12.83

2,421,729

7,328,597

-60.26

Total Assets

2,948,760

7.29

2,748,373

12.39

2,445,423

7,683,424 1,454,122

-61.62

Current liabilities

 

 

 

 

 

 

 

Trade creditors

1,319,490

99

662,609

73.74

381,379

3,148,030

-58.09

Short term group loans

-

-

-

-

-

-

-

Financial debts

215,899

-52.22

451,860

-6.38

482,645

4,280,807 189,666

-94.96

Current portion of long term debt

-

-

-

-

3,656

110,204 15,373

-

Amounts Payable for Taxes, Remuneration & Social Security

7,600

73.27

4,386

9.66

4,000

9,740 -

-77.67

Miscellaneous current liabilities

342,863

-78.12

1,567,060

3.24

1,517,815

15.07

- -

Total current liabilities

1,885,852

-29.79

2,685,916

12.41

2,389,494

5,462,976

-65.48

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

3,168 0

-100

Other long term liabilities

0

-

0

-

0

128,026

-100

Total long term debts

0

 

0

 

0

562,804

-100

SHAREHOLDERS EQUITY

 

 

 

 

 

 

 

Issued share capital

1,000,000

5276

18,600

0

18,600

967,968

3.31

Share premium account

-

-

-

-

-

109,362

-

Reserves

62,908

43.44

43,857

17.49

37,329

654,096

-90.38

Revaluation reserve

-

-

-

-

-

939,206

-

Total shareholders equity

1,062,908

1601

62,457

11.67

55,929

1,651,582

-35.64

Working capital

1,026,860

2111

46,430

44.04

32,235

1,865,621

-44.96

Cashflow

59,794

35.30

44,195

-2.16

45,172

21,288

180

Net worth

1,062,908

1601

62,457

11.67

55,929

1,648,350

-35.52

 

 

Ratio Analysis

 

Annual accounts

31-12-2012

change(%)

31-12-2011

change(%)

31-12-2010

Industry average 2012

 

TRADING PERFORMANCE

 

 

 

 

 

 

 

Profit Before Tax

-

-

-

-

-

-29,00

-

Return on capital employed

5.21

-91.94

64.61

-18.75

79.52

29,00

-82.03

Return on total assets employed

1.88

27.89

1.47

-19.23

1.82

-200,00

0.94

Return on net assets employed

5.21

-91.94

64.61

-18.75

79.52

19,00

-72.58

Sales / net working capital

-

-

-

-

-

44,00

-

Stock turnover ratio

-

-

-

-

-

116,00

-

Debtor days

-

-

-

-

-

143,00

-

Creditor days SHORT TERM STABILITY

 

 

 

 

 

125,00

 

Current ratio

1.54

50.98

1.02

0.99

1.01

6,00

-82.89

Liquidity ratio / acid ratio

0.57

-10.94

0.64

12.28

0.57

4,00

-85.75

Current debt ratio

1.77

-95.88

43

0.66

42.72

9,00

-80.33

Liquidity ratio reprocessed

-

-

-

-

-

-

-

LONG TERM STABILITY

 

 

 

 

 

Gearing

20.31

-97.19

723.47

-16.79

869.50

357,00

-94.31

Equity in percentage

36.05

1488

2.27

-0.87

2.29

-3.192,00

1.13

Total debt ratio

1.77

-95.88

43

0.66

42.72

11,00

-83.91

 

 

Industry comparison   

 

Activity code

46761

Activity description

Wholesaler of diamonds and other precious stones

 

Industry comparison     

 

Activity code

46761

Activity description

Wholesaler of diamonds and other precious stones

Industry average payment

165.08

expectation days

 

Industry average day sales

126.18

outstanding

 

 

Industry quartile analysis

 

Payment expectations

 

Company result

-

Lower

134.13

Median

84.93

Upper

45.55

 

 

Day sales outstanding

Company result

-

Lower

110.17

Median

59.01

Upper

28.11

 

 

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

Anil

Middle name

-

Surname

Soni

 

 

 

SHAREHOLDER DETAILS

 

 

 

Start date

16/01/2008(estimated)

End date

-

Percentage owned

-

 

 

 

SHAREHOLDER ADDRESS

 

 

 

Street name

Belgielei

House number

139

Minor town

-

Postal town

Antwerpen

Post code

2018

Country

Belgium

 

NSSO details

 

Business number         869693684

 

 

Bankruptcy details

 

There is no bankruptcy data against this company

 

 

Bankruptcy Data

 

court data

there is no data for this company

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.46

UK Pound

1

Rs.98.21

Euro

1

Rs.77.45             

 

INFORMATION DETAILS

 

Report Prepared by :

SMN

 

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.