|
Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHAINYDIAM BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat, 2, 2018, Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
21.12.1982 |
|
|
|
|
Com. Reg. No.: |
423522982 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of Diamonds and Other Precious Stones. |
|
|
|
|
No of Employees : |
01 |
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 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 423522982
Company Name SHAINYDIAM BVBA
Address HOVENIERSSTRAAT
2
2018 ANTWERPEN
Number of Staff 1
Date of Establishment 21/12/1982
Telephone Number 037272890
Fax Number 032260247
The business was established over 31 years ago.
The business has 1 employees.
The business has been at the address for over 8 years.
Pre-tax profits decreased by 29% compared to the previous trading period.
The business saw an increase in their Cash Balance of 344%
during the latest trading period.
Accounts
|
Date of latest accounts |
Turnover |
Profit Before Tax |
Net worth |
Working capital |
|
31/12/2013 |
73,977,551 |
148,318 |
4,951,211 |
6,146,237 |
|
31/12/2012 |
81,399,726 |
210,356 |
4,910,986 |
6,126,548 |
|
31/12/2011 |
75,045,426 |
208,383 |
4,851,550 |
6,057,511 |
Accounts
|
Date
of latest accounts |
Balance Total |
Number of
Employees |
Capital |
Cash
Flow |
|
31/12/2013 |
16,272,374 |
1 |
18,600 |
160,641 |
|
31/12/2012 |
20,097,262 |
1 |
18,600 |
212,044 |
|
31/12/2011 |
17,159,074 |
1 |
18,600 |
213,819 |
|
Payment expectations |
|||
|
Past payments |
|
Payment expectation days |
15.67 |
|
Industry average payment expectation days |
127.32 |
Industry average day sales outstanding |
131.80 |
|
Day sales outstanding |
57.45 |
|
|
|
Court data summary |
|||
|
BANKRUPTCY DETAILS |
|||
|
Court action type |
No |
|
|
|
PROTESTED BILLS |
|||
|
Bill amount |
- |
|
|
|
NSSO DETAILS |
|
|
|
|
Date of summons |
- |
|
|
|
Business number |
423522982 |
Company name |
SHAINYDIAM BVBA |
|
Fax number |
032260247 |
Date founded |
21/12/1982 |
|
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.0423.522.982 Check |
|
Belgian Bullettin of Acts Publications |
moniteur beige |
|
|
|
Social
Balance Sheet |
Total |
|
|
During
the reporting year |
|
|
|
ended
31-12-2013 |
- |
|
|
Full-time
Employees |
||
|
Part-time
Employees |
1 |
|
|
Total
Fte Employees |
1 |
|
|
|
||
|
Number
of hours worked |
||
|
Full-time
Employees |
1,763 |
|
|
Part-time
Employees |
1,395 |
|
|
Total |
3,158 |
|
|
|
||
|
Personnel
Charges |
|
|
|
Full-time
Employees |
- |
|
|
Part-time
Employees |
- |
|
|
Total |
85,266 |
|
|
Benefits
In Addition To Wages |
||
|
|
||
|
During
the previous reporting year |
||
|
Average
number employees in Fte |
2 |
|
|
Actual
working hours |
3,189 |
|
|
Personnel
Charges |
85,266 |
|
|
Benefits
In Addition To Wages |
||
Gender and Education
Level
Women Full-Time Part-Time Total FTE
Secondairy Education 1 1 2
Working Category Full-Time Part-Time Total FTE
White Collar Worker 1 1 1
New Staff and Leavers
Full-Time Part-Time Total FTE
New Starters -- -- --
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
73,977,551 |
-9.12 |
81,399,726 |
8.47 |
75,045,426 |
45,875,973 |
61.26 |
|
Total operating
expenses |
73,413,493 |
-9.07 |
80,733,257 |
8.29 |
74,550,829 |
45,442,224 |
61.55 |
|
Operating
result |
564,059 |
-15.37 |
666,469 |
34.75 |
494,597 |
140,449 |
301 |
|
Total
financial income |
13,823 |
- |
- |
- |
9,034 |
68,174 |
-79.72 |
|
Total
financial expenses |
429,564, |
-5.82 |
456,114 |
54.48 |
295,248 |
153,133 |
180 |
|
Results on
ordinary operations before taxation |
148,318 |
-29.49 |
210,356 |
0.95 |
208,383 |
47,062 |
215 |
|
Taxation |
21,592 |
-30.17 |
30,920 |
0.30 |
30,829 |
19,707 |
9.57 |
|
Results on
ordinary operations after taxation |
126,726 |
-29.38 |
179,436 |
1.06 |
177,554 |
32,506 |
289 |
|
Extraordinary
items |
3,500 |
- |
0 |
- |
0 |
1,983 |
76.50 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result |
130,226 |
-27.42 |
179,436 |
1.06 |
177,554 |
34,619 |
276 |
|
OTHER INFORMATION |
|
|
|
|
|
|
|
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
42,804 |
- |
|
Dividends |
- |
- |
- |
- |
- |
216,234 |
- |
|
Director
remuneration |
- |
- |
- |
- |
- |
143,756 |
- |
|
Employee
costs |
85,266 |
1.75 |
83,796 |
2.79 |
81,520 |
159,928 |
-46.68 |
|
Wages and
salary |
67,167 |
2.35 |
65,625 |
3.48 |
63.,419 |
140,390 |
-52.16 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
1,459 |
- |
|
Social security
contributions |
13,919 |
-4.42 |
14,562 |
3.07 |
14,129 |
35,948 |
-61.28 |
|
Other
employee costs |
4,179 |
15.82 |
3,609 |
-9.17 |
3,973 |
3,479 |
20.13 |
|
Amortization
and depreciation |
30,416 |
-6.72 |
32,608 |
-10.08 |
36,265 |
18,914 |
60.81 |
|
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 |
1,501 |
-100 |
|
Tangible
fixed assets |
427,559 |
-6.17 |
455,664 |
-6.51 |
487,410 |
195,330 |
118 |
|
Land &
building |
404,442 |
-5.33 |
427,221 |
-5.06 |
450,000 |
374,597 |
7.97 |
|
Plant &
machinery |
19,692 |
-24.18 |
25,971 |
-20.16 |
32,527 |
32,598 |
-39.59 |
|
Furniture
& Vehicles |
3,424 |
38.51 |
2,472 |
-49.38 |
4,883 |
15,542 4,251 |
-77.97 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
42,007 20,215 |
- |
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
11,927 |
-100 |
|
Financial
fixed assets |
632 |
0 |
632 |
0 |
632 |
39,219 |
-98.39 |
|
Total fixed
assets |
428,191 |
-6.16 |
456,296 |
-6.50 |
488,042 |
209,056 |
104 |
|
Inventories |
3,179,660 |
-7.41 |
3,434,004 |
-17.68 |
4,171,681 |
2,542,976 |
25.04 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
113,995 |
- |
|
Work in
progress |
0 |
- |
0 |
- |
0 |
1,997 |
-100 |
|
Finished
goods |
2,615,392 |
0.17 |
2,611,080 |
-22,04 |
3,349,135 |
1,630,956 |
60.36 |
|
Other
stocks |
564,267 |
-31.43 |
822,924 |
0.05 |
822,546 |
4,66,713 |
20.90 |
|
Trade
debtors |
11,644,086 |
-24.52 |
15,427,045 |
48.78 |
10,368,930 |
4,001,750 |
190 |
|
Cash |
486,054 |
344 |
109,413 |
-92.17 |
1,397,752 |
809,805,623 |
-99 |
|
other
amounts receivable |
520,940 |
-21.55 |
664,024 |
-8.57 |
726,237 |
149,987 |
247 |
|
Miscellaneous
current assets |
13,445 |
107 |
6,480 |
0.75 |
6,432 |
-798,847,465 |
0.00 |
|
Total
current assets |
15,844,184 |
-19.33 |
19,640,966 |
17.81 |
16,671,032 |
6,473,719 |
144 |
|
Total
Assets |
16,272,374 |
-19.03 |
20,097,262 |
17.12 |
17,159,074 |
6,666,100 1,210,724 |
144 |
|
Trade
creditors |
3,151,720 |
-39.68 |
5,224,882 |
8.34 |
4,822,750 |
2,674,214 |
17.86 |
|
Short term
group loans |
- |
- |
- |
- |
- |
- |
|
|
Financial
debts |
6,365,145 |
-21.13 |
8,070,784 |
48.52 |
5,434,285 |
3,683,395 113,790 |
72.81 |
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
82,506 13,806 |
- |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
13,085 |
-17.65 |
15,888 |
-89.35 |
149,216 |
8,027 - |
-58.94 |
|
Miscellaneous
current liabilities |
167,997 |
-17,19 |
202,864 |
-2.13 |
207,270 |
-49.77 |
- |
|
Total
current liabilities |
9,697,947 |
-28.24 |
13,514,418 |
27.33 |
10,613,521 |
4,648,018 |
108 |
|
LONG TERM DEBTS AND LIABILITIES |
|||||||
|
Long term
group loans |
- |
- |
- |
- |
- |
- |
- |
|
Other long
term loans |
1,623,216 |
-2.91 |
1,671,858 |
-1.31 |
1,694,003 |
16.64 |
- |
|
Deffered
taxes |
- |
- |
- |
- |
- |
47,059 41,554 |
- |
|
Provisions for
Liabilities & Charges |
0 |
- |
0 |
- |
0 |
5,925 0 |
-100 |
|
Other long
term liabilities |
0 |
- |
0 |
|
0 |
99,933 |
-100 |
|
Total long
term debts |
1,623,216 |
-2.91 |
1,671,858 |
-1.31 |
1,694,003 |
620,362 |
161 |
|
SHAREHOLDERS
EQUITY |
|||||||
|
Issued
share capital |
18,600 |
0 |
18,600 |
0 |
18,600 |
841,532 |
-97.79 |
|
Share
premium account |
- |
- |
- |
- |
- |
146,653 |
- |
|
Reserves |
4,641,471 |
0.87 |
4,601,246 |
1.31 |
4,541,810 |
513,002 |
804 |
|
Revaluation
reserve |
291,140 |
0 |
291,140 |
0 |
291,140 |
1,100,228 |
-73.54 |
|
Total
shareholders equity |
4,951,211 |
0.82 |
4,910,986 |
1.23 |
4,851,550 |
1,385,095 |
257 |
|
Working
capital |
6,146,237 |
0.32 |
6,126,548 |
1.14 |
6,057,511 |
1,825,701 |
236 |
|
Cash flow |
160,641 |
-24.24 |
212,044 |
-0.83 |
213,819 |
50,309 |
219 |
|
Net worth |
4,951,211 |
0.82 |
4,910,986 |
1.23 |
4,851,550 |
1,383,594 |
257 |
|
Annual accounts |
31-12-2013 |
change(%) |
31-12-2012 |
change(%) |
31-12-2011 |
Industry average 2013 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
0.20 |
-23.08 |
0.26 |
-7.14 |
0.28 |
-4,00 |
5.002.26 |
|
Return on capital employed |
2.26 |
-29.38 |
3.20 |
0.63 |
3.18 |
8,00 |
-71.75 |
|
Return on total assets
employed |
0.91 |
-13.33 |
1.05 |
-13.22 |
1.21 |
-2,00 |
45.50 |
|
Return on net assets
employed |
3 |
-29.91 |
4.28 |
-0.47 |
4.30 |
4,00 |
-25.00 |
|
Sales / net working capital |
12.04 |
-9.41 |
13.29 |
7.26 |
12.39 |
220,00 |
-99 |
|
Stock turnover ratio |
4.30 |
1.90 |
4.22 |
-24.10 |
5.56 |
50,00 |
-91.40 |
|
Debtor days |
57.45 |
-16.96 |
69.18 |
37.18 |
50.43 |
131,80 |
-56.41 |
|
Creditor days |
15.67 |
-33.600 |
23.62 |
0.04 |
23.61 |
127,32 |
-87.69 |
|
SHORT TERM STABILITY |
|||||||
|
Current ratio |
1.63 |
12.41 |
1.45 |
-7.64 |
1.57 |
4,00 |
-90.41 |
|
Liquidity ratio / acid ratio |
1.31 |
9.17 |
1.20 |
1.69 |
1.180 |
3,00 |
-56.33 |
|
Current debt ratio |
1.96 |
-28.73 |
2.75 |
25.57 |
2.19 |
17,00 |
-88.47 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM STABILITY |
|||||||
|
Gearing |
161.34 |
-18.67 |
198.38 |
35.02 |
146.93 |
262,00 |
-38.42 |
|
Equity in percentage |
30.43 |
24.51 |
24.44 |
-13.55 |
28.27 |
-134,00 |
22.71 |
|
Total debt ratio |
2.29 |
-25.89 |
3.09 |
21.65 |
2.54 |
18,00 |
-87.28 |
|
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
expectations |
||
|
Payment
expectation days |
15.67 |
|
|
Day
sales outstanding |
57.45 |
|
|
Industry
comparison |
||
|
Activity
code |
46761 |
|
|
Activity
description |
Wholesale of diamonds and other precious stones. |
|
|
Industry
average payment expectation days |
127.32 |
|
|
Industry average
day sales outstanding |
131.80 |
|
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
15.67 |
|
Lower |
127.58 |
|
Median |
76.58 |
|
Upper |
45.69 |
|
Day
sales outstanding |
|
|
Company
result |
57.45 |
|
Lower |
105.23 |
|
Median |
55.21 |
|
Upper |
25.72 |
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No minority interests found
There is no data for this company
Director details
Name NIRAL SHAILESH
MEHTA
Position Principal Manager
Start Date 09/08/2012
Street 12 QUELLINSTRAAT
ANTWERPEN
Post code 2018
Country Belgium
Name SHISHIR MEHTA
Position Principal Manager
Start Date 09/08/2012
Street 1002 DUBAI MARINA
10TH FLOOR - FLAT
Post code 392
Country United Arab
Emirates
Name BMS BEHEER CVBA
Position Commissioner
Start Date 30/05/2011
End Date 31/12/2011
Date of birth 02/03/1988
Street 478 HERENTALSEBAAN
ANTWERPEN
Post code 2100
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.60.61 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TPT |
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.