MIRA INFORM REPORT

 

 

Report Date :

09.09.2014

 

IDENTIFICATION DETAILS

 

Name :

KRUPA DIMON BVBA

 

 

Registered Office :

Hoveniersstraat 12, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

30.03.2005

 

 

Com. Reg. No.:

873167076

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale 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 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

 

Company Summary

 

Business number                     873167076

Company name                       KRUPA DIMON BVBA

Address                                    HOVENIERSSTRAAT 12

2018 ANTWERPEN

Number of staff                        0

Date of establishment              30/03/2005

Telephone number                  0485387107

 

 

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 increased 23% on the previous trading period.

A 21% decline in Total Assets occurred during the latest trading period.

The business saw an increase in their Cash Balance of 107% during the latest trading period.

 

 

ACCOUNTS

 

Date of latest accounts

Turnover

Profit Before Tax

Net worth

Working capital

31/03/2013

 

13,321

58,399

54,053

31/03/2012

 

12,165

48,868

42,814

31/12/2010

 

13,572

39,736

37,444

 

 

ACCOUNTS

 

Date of latest accounts

Balance Total

Number of Employees

Capital

Cash Flow

31/03/2013

902,396

0

18,600

12,620

31/03/2012

1,154,748

0

18,600

11,551

31/12/2010

891,020

0

18,600

12,456

 

Payment expectations

Past payments

 

Payment expectation days

--

Industry average payment expectation days

125.22

Industry average day sales outstanding

142.22

Day sales outstanding

--

 

 

Court data summary

BANKRUPTCY DETAILS

Court action type

No

 

 

PROTESTED BILLS

Bill amount

-

 

 

NSSO DETAILS

 

 

 

Date of summons

-

 

 

 

 

Company information

 

Business number

873167076

Company name

KRUPA DIMON BVBA

Fax number

 

Date founded

30/03/2005

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.0873.167.076 Check VAT number

Belgian Bullettin of Acts Publications

moniteur belge

 

 

 

 

Company accounts

 

PROFIT & LOSS

 

Annual accounts

31-12-2013

%

31-12-2012

%

31-12-2011

Industry average 2013

%

Weeks

52

 

52

 

52

 

 

Currency

EUR

 

EUR

 

EUR

 

 

Turnover

-

-

-

-

-

47,116,700

-

Total operating expenses

-

-

-

-

-

46,697,423

-

Operating result

17,690

23.84

14,285

-1.80

14,547

134,643

-86.86

Total financial income

66

100

33

-97.30

1,222

65,151

-99

Total financial expenses

4,436

105

2,154

-1.94

2,197

151,179

-97.07

Results on ordinary operations before taxation

13,321

9.50

12,165

-10.37

13,572

43,103

-69.10

Taxation

3,790

44.92

2,615

9.51

2,388

18,863

-79.91

Results on ordinary operations after taxation

9,531

-0.20

9,550

-14.61

11,184

29,580

-67.78

Extraordinary items

0

0

-419

-

0

2,347

-100

Other appropriations

0.00

-100

1

-

0.00

-

-

Net result

OTHER INFORMATION

9,531

4.37

9,132

-18.35

11,184

32,216

-70.42

Gross Operating Margin

23,905

29.55

18,452

6.88

17,264

40,559

-41.06

Dividends

-

-

-

-

-

207,593

-

Director remuneration

-

-

-

-

-

131,411

-

Employee costs

-

-

-

-

-

143,169

-

Wages and salary

-

-

-

-

-

126,655

-

Employee pension costs

-

-

-

-

-

1,459

-

Social security contributions

-

-

-

-

-

31,543

-

Other employee costs

0

-

0

-

0

2,941

-100

Amortization and depreciation

3,089

27.71

2,419

90.25

1,271

17,922

-82.76

 

BALANCE SHEET

 

Annual accounts Weeks

31-12-2013 52

%

31-12-2012 52

%

31-12-2011 52

Industry average 2013

%

Currency

EUR

 

EUR

 

EUR

 

 

Intangible fixed assets

0

-

0

-

0

1,251

-100

Tangible fixed assets

4,345

-28.22

6,054

164

2,292

188,977

-97.70

Land & building

-

-

-

-

-

373,751

-

Plant & machinery

2,130

-41.57

3,645

415

707

28,667

-92.57

Furniture & Vehicles

1,183

-50.89

2,409

51.93

1,586

15,297 3,995

-92.27

Leasing & Other Similar Rights

-

-

-

-

-

42,007 20,21 5

-

Other tangible assets

1,033

-

0

-

0

10,346

-90.02

Financial fixed assets

-

-

-

-

-

40,002

-

Total fixed assets

4,345

-28.22

6,054

164

2,292

201,306

-97.84

Inventories

353,044

-17.67

428,838

153

169,310

2,531,396

-86.05

Raw materials & consumables

-

-

-

-

-

113,995

-

Work in progress

0

-

0

-

0

1,766

-100

Finished goods

0

-

0

-

0

1,612,091

-100

Other stocks

353,044

-17.67

428,838

153

169,310

459,407

-23.15

Trade debtors

487,136

-29.23

688,340

2.51

671,478

3,963,552

-87.71

Cash

53,033

107

25,593

128

11,193

721,246,392

-99

other amounts receivable

4,631

37.24

3,374

-90.79

36,621

146,073

-96.83

Miscellaneous current assets

207

-91.87

2,549

1907

127

-706,515,457

0.00

Total current assets

898,051

-21.82

1,148,694

29.25

888,728

6,416,601

-86.00

Total Assets

902,396

-21.85

1,154,748

29.60

891,020

6,600,301 1,066,670

-86.33

 

CURRENT LIABILITIES

 

Trade creditors

542,656

-29.99

775,070

61.39

480,244

2,707,908

-79.96

Short term group loans

-

-

-

-

-

-

-

Financial debts

916

-64.24

2,562

330

596

3,821,286 113,934

-99

Current portion of long term debt

-

-

-

-

-

101,621 13,680

-

Amounts Payable for Taxes, Remuneration & Social Security

4,702

48.72

3,162

3.01

3,070

7,508 -

-84.02

Miscellaneous current liabilities

295,723

-9.03

325,086

-11.51

367,375

31.95

- -

Total current liabilities

843,997

-23.68

1,105,880

29.91

851,284

4,592,042

-81.62

LONG TERM DEBTS AND LIABILITIES

 

 

 

 

 

 

Long term group loans

-

-

-

-

-

-

- -

Other long term loans

-

-

-

-

-

-

- -

Deffered taxes

-

-

-

-

-

58,297 69,470

-

Provisions for Liabilities & Charges

0

-

0

-

0

4,802 0

-100

Other long term liabilities

0

-

0

-

0

97,846

-100

Total long term debts

SHAREHOLDERS EQUITY

0

 

0

 

0

585,144

-100

Issued share capital

18,600

0

18,600

0

18,600

874,642

-97.87

Share premium account

-

-

-

-

-

115,228

-

Reserves

39,799

31.49

30,268

43.20

21,136

508,759

-92.18

Revaluation reserve

-

-

-

-

-

1,047,738

-

Total shareholders equity

58,399

19.50

48,868

22.98

39,736

1,412,059

-95.86

Working capital

54,053

26.25

42,814

14.34

37,444

1,824,559

-97.04

Cashflow

12,620

9.26

11,551

-7.26

12,456

46,745

-73.00

Net worth

58,399

19.50

48,868

22.98

39,736

1,410,808

-95.86

 

RATIO ANALYSIS

 

Annual accounts

31-12-2013

change(%)

31-12-2012

change(%)

31-12-2011

Industry average 2013

%

TRADING PERFORMANCE

 

 

 

 

 

 

 

Profit Before Tax

-

-

-

-

-

-5,00

-

Return on capital employed

22.81

-8.36

24.89

-27.14

34.16

8,00

185

Return on total assets employed

1.48

40.95

1.05

-30.92

1.52

-2,00

74.00

Return on net assets employed

22.81

-8.36

24.89

-27.14

34.16

4,00

470

Sales / net working capital

-

-

-

-

-

201,00

-

Stock turnover ratio

-

-

-

-

-

57,00

-

Debtor days

-

-

-

-

-

142,22

-

Creditor days

SHORT TERM STABILITY

 

 

 

 

 

125,22

 

Current ratio

1.06

1.92

1.04

0

1.04

4,00

-92.93

Liquidity ratio / acid ratio

0.65

0

0.65

-23.53

0.85

3,00

-78.33

Current debt ratio

14.45

-36.15

22.63

5.65

21.42

15,00

-3.67

Liquidity ratio reprocessed

-

-

-

-

-

-

-

LONG TERM STABILITY

 

 

 

 

 

 

 

Gearing

1.57

-70.04

5.24

249

1.50

259,00

-99

Equity in percentage

6.47

52.96

4.23

-5.16

4.46

-296,00

2.19

Total debt ratio

14.45

-36.15

22.63

5.65

21.42

16,00

-9.69

 

Industry comparison

Activity code

46761

Activity description

Wholesale of diamonds and other precious stones

industry average credit

64.48

rating

 

Industry average credit

140177.31

limit

 

Payment Information

Suspension of payments / moratorium history

Amount

-

Details

 

Payment expectations

 

Payment expectation days

-

Day sales outstanding

 

Industry comparison

 

Activity code

46761

Activity description

Wholesale of diamonds and other precious stones

Industry average payment

125.22

expectation days

 

Industry average day sales

142.22

outstanding

 

Industry quartile analysis

Payment expectations

 

Company result

-

Lower

127.58

Median

76.66

Upper

47.13

 

Day sales outstanding

Company result

--

Lower

103.77

Median

54.98

Upper

25.26

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interests found

 

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

 

Director details

 

CURRENT DIRECTOR DETAILS

 

Position                       Principal Manager

Start Date                    03/08/2010

Street                           53 VAN EYCKLEI ANTWERPEN

Post code                     2018

Country                        Belgium

 

Name                           PARAS SURESHKUMAR SAVANI

 

FORMER DIRECTOR DETAILS

 

Name                           ANJA SWARUP

Position                       Principal Manager

Start Date                    15/10/2010

End Date                      31/12/2013

Street                           7 JOS RATINCKXSTRAAT ANTWERPEN

Post code                     2600

Country                        Belgium

 

Name                           VIKAL VARAIYA

Position                       Principal Manager

Start Date                    01/07/2009

End Date                      31/12/2010

Street                           67 BELGIELEI 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.60.26

UK Pound

1

Rs.97.51

Euro

1

Rs.77.94

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

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.