|
Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SREDIAM BVBA |
|
|
|
|
Registered Office : |
Van Eycklei 42 2018
Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
09.10.1987 |
|
|
|
|
Com. Reg. No.: |
431672665 |
|
|
|
|
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 |
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 |
|
Business number |
431672665 |
|
Company name |
SREDIAM BVBA |
|
Address |
VAN EYCKLEI 42 |
|
|
2018 ANTWERPEN |
|
Number of staff |
0 |
|
Date of establishment |
09/1 0/1 987 |
|
Telephone number |
032274020 |
|
Fax number |
032329760 |
|
The business
was established over 27 years ago. |
|
The
business has 1 employees. |
|
The
business has been at the address for over 2 years. |
|
DATE OF
LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET
WORTH |
WORKING
CAPITAL |
|
|
31/12/2012 |
9,163,513 |
20,593 |
1,090,892 |
837,002 |
|
|
31/12/2011 |
7,906,363 |
-96,264 |
1,072,152 |
2,080,418 |
|
|
31/12/2010 |
9,935,364 |
22,231 |
1,055,612 |
1,846,315 |
|
|
DATE OF
LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER OF
EMPLOYEES |
CAPITAL |
CASHFLOW |
|
|
31/12/2012 |
5,291,748 |
0 |
18,600 |
29,581 |
|
|
31/12/2011 |
5,222,255 |
0 |
18,600 |
27,143 |
|
|
31/12/2010 |
5,538,098 |
0 |
18,600 |
32,162 |
|
|
Past
payments |
|
Payment expectation
days |
116.83 |
|
|
|
Industry
average payment expectation days |
127.79 |
Industry
average day sales outstanding |
143.76 |
|
|
|
Day
sales outstanding |
175.09 |
|
|
|
|
BANKRUPTCY DETAILS
Court action type no
PROTESTED BILLS
Bill amount –
NSSO DETAILS
Date of summons
–
Business number 431672665
Company name SREDIAM BVBA
Fax number
032329760
Date founded 09/10/1987
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.0431.672.665
Check VAT number
Belgian Bullettin of Acts Publications moniteur belge
|
Registered
contractor -number |
|||
|
Contractor
description - |
|||
|
Date
struck off register |
|||
|
Social
Balance Sheet Details |
|||
|
|
|||
|
Social
Balance Sheet |
Total |
|
|
|
During
the reporting year ended 31-12-2012 |
|||
|
Full-time
Employees |
- |
|
|
|
Part-time
Employees |
- |
|
|
|
Total
Fte Employees |
- |
|
|
|
|
|||
|
Number
of hours worked |
|||
|
Full-time
Employees |
- |
|
|
|
Part-time
Employees |
- |
|
|
|
Total |
- |
|
|
|
|
|||
|
Personnel
Charges |
|||
|
Full-time
Employees |
- |
|
|
|
Part-time
Employees |
- |
|
|
|
Total |
- |
|
|
|
Benefits
In Addition To Wages |
- |
|
|
|
|
|||
|
During
the previous reporting year |
|||
|
Average number
employees in Fte |
0 |
|
|
|
Actual
working hours |
524 |
|
|
|
Personnel
Charges |
10,942 |
|
|
|
Benefits
In Addition To Wages |
- |
|
|
|
■ |
|
|
|
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
JIC Code 324.02
Description JSC small
merchandisers in the diamant industry and trade
Category
Significant Events
Event Date 23/01/2013
Event Description
Event Details Toekenning van 533
nieuwe aandelen aan Godhani Minaxiben.
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 |
9,163,513 |
1 5.90 |
7,906,363 |
-20.42 |
9,935,364 |
41,421,400 |
-77.88 |
|
Total
operating expenses |
9,128,882 |
14.61 |
7,965,424 |
-18.45 |
9,767,280 |
41,075,606 |
-77.78 |
|
Operating
result |
34,631 |
58.64 |
-59,061 |
-135 |
168,084 |
142,887 |
-75.76 |
|
Total
financial income |
11 |
-99 |
2,848 |
284668 |
1 |
94,618 |
-99 |
|
Total
financial expenses |
14,048 |
-64.92 |
40,051 |
-72.54 |
145,853 |
197,047 |
-92.87 |
|
Results
on ordinary operations before taxation |
20,593 |
21.39 |
-96,264 |
-533 |
22,231 |
31,108 |
-33.80 |
|
Taxation |
2,451 |
52.53 |
1,607 |
-74.87 |
6,395 |
21,082 |
-88.37 |
|
Results
on ordinary operations after taxation |
18,142 |
1 8.54 |
-97,871 |
-718 |
15,836 |
16,319 |
11.17 |
|
Extraordinary
items |
597 |
-99 |
114,411 |
- |
0 |
-5,071 |
11.78 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0 |
- |
- |
|
Net
result OTHER
INFORMATION |
18,739 |
13.30 |
16,540 |
4.44 |
15,836 |
11,283 |
66.09 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
51,258 |
- |
|
Dividends |
- |
- |
- |
- |
- |
160,835 |
- |
|
Director
remuneration |
- |
- |
- |
- |
- |
1 02,030 |
- |
|
Employee
costs |
38 |
-99 |
8,612 |
-48.55 |
16,739 |
1 36,324 |
-99 |
|
Wages
and salary |
38 |
-99 |
7,161 |
-44.75 |
12,962 |
117,289 |
-99 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
11,791 |
- |
|
Social
security contributions |
- |
- |
1,337 |
-34.43 |
2,039 |
28,625 |
- |
|
Other
employee costs |
0 |
-100 |
114 |
-93.47 |
1,738 |
4,831 |
-100 |
|
Amortization
and depreciation |
10,841 |
2.25 |
10,603 |
-35.05 |
16,326 |
18,306 |
-40.78 |
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 |
1,140 |
-100 |
|
Tangible
fixed assets |
253,766 |
-3.42 |
262,757 |
-43.57 |
465,595 |
1 91,598 |
32.45 |
|
Land
& building |
251,963 |
-3.95 |
262,332 |
-43.63 |
465,389 |
372,817 |
-32.42 |
|
Plant
& machinery |
1,280 |
201 |
425 |
106 |
206 |
25,469 |
-94.97 |
|
Furniture
& Vehicles |
522 |
2612300 |
0 |
- |
- |
17,240
5,033 |
-96.97 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
139,170
30,812 |
- |
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
10,963 |
-100 |
|
Financial
fixed assets |
124 |
0 |
124 |
-0.04 |
124 |
232,882 |
-99 |
|
Total
fixed assets |
253,890 |
-3.42 |
262,881 |
-43.55 |
465,719 |
344,927 |
-26.39 |
|
Inventories |
475,426 |
-64.42 |
1,336,172 |
-10.15 |
1,487,134 |
2,886,109 |
-83.53 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
7,01
8,491 |
- |
|
Work in
progress |
0 |
- |
0 |
- |
0 |
2,505 |
-100 |
|
Finished
goods |
475,426 |
-64.42 |
1,336,172 |
-10.15 |
1,487,134 |
1,901,964 |
-75.00 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
451,842 |
-100 |
|
Trade
debtors |
4,395,653 |
27.75 |
3,440,761 |
-2.53 |
3,530,192 |
3,821,391 |
15.03 |
|
Cash |
156,128 |
10.14 |
141,753 |
561 |
21,416 |
209,501 |
-25.48 |
|
other
amounts receivable |
7,540 |
-79.98 |
37,669 |
17.05 |
32,183 |
221,786 |
-96.60 |
|
Miscellaneous
current assets |
3,112 |
3.13 |
3,018 |
107 |
1,454 |
16,471 |
-81.10 |
|
Total
current assets |
5,037,859 |
1.58 |
4,959,374 |
-2.23 |
5,072,379 |
6,673,970 |
-24.51 |
|
Total
Assets |
5,291,748 |
1.33 |
5,222,255 |
-5.70 |
5,538,098 |
6,981,143
1,251,869 |
-24.20 |
CURRENT LIABILITIES
|
Trade
creditors |
2,921,920 |
4.80 |
2,788,047 |
8.58 |
2,567,833 |
2,836,648 |
3.01 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
111,588 |
82.16 |
61,257 |
-90.12 |
620,311 |
3,813,627
158,051 |
-97.07 |
|
Current
portion of long term debt |
- |
- |
26,405 |
13.75 |
23,212 |
90,468
14,229 |
- |
|
Amounts Payable
for Taxes, Remuneration & Social Security |
3,399 |
4.66 |
3,247 |
-76.99 |
14,116 |
8,707 - |
-90.55 |
|
Miscellaneous
current liabilities |
1,163,950 |
- |
0 |
-100 |
592 |
335 |
- - |
|
Total
current liabilities |
4,200,857 |
45.92 |
2,878,956 |
-10.76 |
3,226,064 |
4,853,539 |
-13.45 |
|
LONG
TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other
long term loans |
- |
- |
34,575 |
-41.39 |
58,996 |
- |
- - |
|
Deffered
taxes |
- |
- |
- |
- |
- |
37,532
30,840 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,701 0 |
-100 |
|
Other
long term liabilities |
0 |
-100 |
1,236,572 |
3.27 |
1,197,426 |
215,240 |
-100 |
|
Total
long term debts |
0 |
-100 |
1,271,147 |
1.17 |
1,256,422 |
626,868 |
-100 |
|
SHAREHOLDERS
EQUITY |
|
|
|
|
|
|
|
|
Issued
share capital |
18,600 |
0 |
18,600 |
0 |
18,600 |
927,053 |
-97.99 |
|
Share
premium account |
- |
- |
- |
- |
- |
58,654 |
- |
|
Reserves |
1,072,292 |
1.78 |
1,053,552 |
1.59 |
1,037,012 |
542,282 |
97.74 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
927,466 |
- |
|
Total
shareholders equity |
1,090,892 |
1.75 |
1,072,152 |
1.57 |
1,055,612 |
1,494,949 |
-27.03 |
|
Working
capital |
837,002 |
-59.77 |
2,080,418 |
12.68 |
1,846,315 |
1,820,430 |
-54.02 |
|
Cashflow |
29,581 |
8.98 |
27,143 |
-15.61 |
32,162 |
26,210 |
12.86 |
|
Net
worth |
1,090,892 |
1.75 |
1,072,152 |
1.57 |
1,055,612 |
1,492,232 |
-26.90 |
ratio
analysis
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
% |
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.22 |
18.03 |
-1.22 |
-654 |
0.22 |
-9,00 |
2.44 |
|
Return
on capital employed |
1.89 |
45.99 |
-4.11 |
-528 |
0.96 |
39,00 |
-95.15 |
|
Return
on total assets employed |
0.39 |
21.20 |
-1.84 |
-560 |
0.40 |
-291,00 |
0.13 |
|
Return
on net assets employed |
1.89 |
21.05 |
-8.98 |
-525 |
2.11 |
26,00 |
-92.73 |
|
Sales /
net working capital |
10.95 |
188 |
3.80 |
-29.37 |
5.38 |
63,00 |
-99 |
|
Stock
turnover ratio |
5.19 |
-69.29 |
16.90 |
12.89 |
14.97 |
86,00 |
-93.97 |
|
Debtor
days |
175.09 |
10.23 |
158.84 |
22.48 |
129.69 |
143,76 |
21.79 |
|
Creditor
days SHORT
TERM STABILITY |
116.83 |
-8.56 |
127.76 |
33.14 |
95.96 |
127,79 |
-8.58 |
|
Current
ratio |
1.20 |
-30.23 |
1.72 |
9.55 |
1.57 |
8,00 |
-88.00 |
|
Liquidity
ratio / acid ratio |
1.09 |
-13.49 |
1.26 |
13.51 |
1.11 |
5,00 |
-78.20 |
|
Current
debt ratio |
3.85 |
43.12 |
2.69 |
-12.09 |
3.06 |
10,00 |
-61.50 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG
TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
10.23 |
-10.26 |
11.40 |
-82.87 |
66.55 |
260,00 |
-96.07 |
|
Equity
in percentage |
20.61 |
0.39 |
20.53 |
7.71 |
19.06 |
-3.353,00 |
0.61 |
|
Total
debt ratio |
3.85 |
-0.52 |
3.87 |
-8.94 |
4.25 |
11,00 |
-65.00 |
|
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 |
116.83 |
|
Day
sales outstanding |
175.09 |
|
Activity
code |
46761 |
|
Activity
description |
Wholesale
of diamonds and other precious stones |
|
Industry
average payment expectation days |
127.79 |
|
Industry
average day sales outstanding |
143.76 |
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
116.83 |
|
Lower |
127.33 |
|
Median |
76.58 |
|
Upper |
46.44 |
Day sales outstanding
Company result 175.09
Lower 105.23
Median 55.21
Upper 25.71
Shareholder Details
Summary
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
SHAREHOLDER NAME
Forename Minaxiben
Middle name -
Surname Godhani
SHAREHOLDER DETAILS
Start date 06/02/2013(estimated)
End date -
Percentage owned -
SHAREHOLDER ADDRESS
Street name Van
Eycklei House number 42
Minor town
- Postal
town Antwerpen
Post code 2018
Country Belgium
Summary
Group - Number of Companies 0
Linkages - Number of Companies 0
Number of Countries 0
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
Current director
details
Position Principal Manager
Start Date 29/02/2012
Street 49 QUINTEN MATSIJSLEI ANTWERPEN
Post code 2018
Country Belgium
Name BABULAL ODHABBEL GODHANI
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 |
|
UK Pound |
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SDA |
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.