MIRA INFORM REPORT

 

 

Report Date :

16.09.2014

 

IDENTIFICATION DETAILS

 

Name :

NICE DIMON BVBA

 

 

Registered Office :

Pelikaanstraat 62 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

24.02.1995

 

 

Com. Reg. No.:

454587431

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of watches and jewellery

 

 

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 :

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

 

Company name and address

 

Business number         454587431

Company name           NICE DIMON BVBA

Address                        PELIKAANSTRAAT 62

2018 ANTWERPEN

Number of staf f           0

Date of establishment 24/02/1995

Telephone number      032930277

 

 

Commentary

 

The business was established over 19 years ago.

 

No employees are recorded for this business.

 

The business has been at the address for over 8 years.

 

Operating Result in the latest trading period decreased 24% on the previous trading period.

 

 

Accounts

 

DATE OF LATEST ACCOUNTS        TURNOVER

PROFIT BEFORE TAX            NETWORTH

WORKING CAPITAL

31/12/2013

50,772                                                97,407

96,176

31/12/2012

63,863                                                88,989

87,659

31/12/2011

42,467                                                66,846

65,417

 

 

Accounts

 

DATE OF LATEST ACCOUNTS BALANCE TOTAL          NUMBER OF EMPLOYEES     CAPITAL   CASHFLOW

31/12/2013                                970,422                         0                                              18,592              48,517

31/12/2012                               1,063,772                      0                                              18,592              62,242

31/12/2011                                1,140,745                      0                                              18,592              42,334

 

 

Company information

 

Business number

454587431

Company name

NICE DIMON BVBA

Fax number

 

Date founded

24/02/1995

Company status

active

Company type

Private Limited Company (BL/LX)

Currency

Euro (€)

Date of latest accounts

31/12/2013

Activity code

46480

Liable for VAT

yes

Activity description

Wholesale of watches and jewellery

VAT Number

BE.0454.587.431 Check VAT number

 

 

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

-

-

-

-

-

35,607,965

-

Total operating expenses

-

-

-

-

-

35,248,159

-

Operating result

36,866

-24.88

49,076

-4.60

51,442

81,844

-54.96

Total financial income

108,826

-22.77

140,914

-8.96

154,789

40,149

171

Total financial expenses

94,920

-24.74

126,127

-22.98

163,765

86,401

9.86

Results on ordinary operations before taxation

50,772

-20.50

63,863

50.38

42,467

31,450

61.44

Taxation

2,355

36.87

1,720

138

721

85,638

-97.25

Results on ordinary operations after taxation

48,418

-22.09

62,143

48.86

41,746

-30,117

160

Extraordinary items

0

-

0

-

0

2,517

-100

Other appropriations

0.00

-

0.00

-

0.00

-

-

Net result

OTHER INFORMATION

48,418

-22.09

62,143

48.86

41,746

-27,569

175

Gross Operating Margin

38,434

-23.94

50,530

-5.24

53,327

59,678

-35.60

Dividends

-

-

-

-

-

198,417

-

Director remuneration

-

-

-

-

-

116,031

-

Employee costs

-

-

-

-

-

215,192

-

Wages and salary

-

-

-

-

-

161,976

-

Employee pension costs

-

-

-

-

-

845

-

Social security contributions

-

-

-

-

-

42,901

-

Other employee costs

0

-

0

-

0

7,300

-100

Amortization and depreciation

99

0

99

-83.16

589

22,234

-99

 

 

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

4,079

-100

Tangible fixed assets

116

-46.15

215

-31.58

314

173,822

-99

Land & building

-

-

-

-

-

320,424

-

Plant & machinery

116

-46.15

215

-31.58

314

21,674

-99

Furniture & Vehicles

-

-

-

-

-

21,682 7,500

-

Leasing & Other Similar Rights

-

-

-

-

-

242,669 28,177

-

Other tangible assets

0

-

0

-

0

7,729

-100

Financial fixed assets

1,116

0

1,116

0

1,116

238,385

-99

Total fixed assets

1,231

-7.45

1,330

-6.94

1,430

303,311

-99

Inventories

318,259

23.38

257,953

-4.29

269,518

843,890

-62.29

Raw materials & consumables

-

-

-

-

-

6,378,985

-

Work in progress

0

-

0

-

0

74

-100

Finished goods

0

-

0

-

0

283,196

-100

Other stocks

318,259

23.38

257,953

-4.29

269,518

305,909

4.04

Trade debtors

421,128

-29.94

601,055

9.28

550,010

1,329,796

-68.33

Cash

226,834

13.36

200,095

-36.76

316,386

147,742

53.53

other amounts receivable

1,334

2.83

1,297

-28.42

1,812

365,327

-99

Miscellaneous current assets

1,637

-19.85

2,042

28.52

1,589

67,919

-97.59

Total current assets

969,191

-8.78

1,062,441

-6.75

1,139,315

2,548,090

-61.96

Total Assets

970,422

-8.78

1,063,772

-6.75

1,140,745

2,804,675 310,511

-65.40

 

 

CURRENT LIABILITIES

 

 

Trade creditors

579,471

-10.75

649,246

-13.56

751,099

875,160

-33.79

 

Short term group loans

-

-

-

-

-

-

-

 

Financial debts

-

-

-

-

-

1,888,021 27,836

-

 

Current portion of long term debt

-

-

-

-

-

98,666 16,431

-

 

Amounts Payable for Taxes, Remuneration & Social Security

11

-99

3,500

42.34

2,459

9,139 -

-99

 

Miscellaneous current liabilities

293,534

-8.85

322,037

0.53

320,340

12.78

- -

 

Total current liabilities

873,016

-10.44

974,783

-9.23

1,073,899

1,804,226

-51.61

 

LONG TERM DEBTS AND LIABILITIES

 

 

 

 

 

 

 

Long term group loans

-

-

-

-

-

-

- -

 

Other long term loans

-

-

-

-

-

-

- -

 

Deffered taxes

-

-

-

-

-

22,381 15,032

-

 

Provisions for Liabilities & Charges

0

-

0

-

0

21,351 0

-100

 

Other long term liabilities

0

-

0

-

0

29,012

-100

 

Total long term debts

0

-

0

-

0

466,650

-100

 

SHAREHOLDERS EQUITY

 

 

 

 

 

 

 

 

Issued share capital

18,592

0

18,592

0

18,592

385,821

-95.18

 

Share premium account

-

-

-

-

-

7,439

-

 

Reserves

78,815

11.96

70,397

45.89

48,254

138,363

-43.04

 

Revaluation reserve

-

-

-

-

-

391,978

-

 

Total shareholders equity

97,407

9.46

88,989

33.13

66,846

533,799

-81.75

 

Working capital

96,176

9.72

87,659

34.00

65,417

743,864

-87.07

 

Cashflow

48,517

-22.05

62,242

47.02

42,334

-9,722

499

 

Net worth

97,407

9.46

88,989

33.13

66,846

529,720

-81.61

 

 

ratio analysis

 

Annual accounts

TRADING PERFORMANCE

31 -1 2-2013

change(%)

31-12-2012

change(%)

31-12-2011

Industry

average 2013

 

Profit Before Tax

-

-

-

-

-

-10,00

-

Return on capital employed

52.1 2

-27.38

71.77

12.97

63.53

528,00

-90.13

Return on total assets employed

5.23

-12.83

6

61.29

3.72

9,00

-41.89

Return on net assets employed

52.12

-27.38

71.77

12.97

63.53

500,00

-89.58

Sales / net working capital

-

-

-

-

-

-66,00

-

Stock turnover ratio

-

-

-

-

-

52,00

-

Debtor days

-

-

-

-

-

327,30

-

Creditor days

SHORT TERM STABILITY

 

 

 

 

 

268,13

 

Current ratio

1.11

1.83

1.09

2.83

1.06

18,00

-99

Liquidity ratio / acid ratio

0.75

-9.64

0.83

2.47

0.81

15,00

-95.00

Current debt ratio

8.96

-18.17

10.95

-31.86

16.07

127,00

-92.94

Liquidity ratio reprocessed

-

-

-

-

-

-

-

LONG TERM STABILITY

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

54,00

-

Equity in percentage

10.04

19.95

8.37

42.83

5.86

-299,00

3.36

Total debt ratio

8.96

-18.17

10.95

-31.86

16.07

127,00

-92.94

 

 

Industry comparison

 

Activity code

46480

Activity description

Wholesale of watches and jewellery

Industry comparison   

 

Activity code

46480

Activity description

Wholesale of watches and jewellery

Industry average payment

268.13

expectation days

 

Industry average day sales

327.30

outstanding

 

 

Industry quartile analysis

 

Payment expectations

 

Company result

-

Lower

125.80

Median

58.18

Upper

18.49

 

 

 

Day sales outstanding

 

Company result -

Lower                          126.27

Median                        58.26

Upper                           22.40

 

 

Shareholder Details

 

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        Sachin                          Middle name   -

Surname          SHAH

SHAREHOLDER DETAILS

Start date                     24/02/1995        End date          -

Percentage owned      -

SHAREHOLDER ADDRESS

Street name                 Gounodstraat     House number 2A

Minor town                  -                       Postal town      Antwerpen

Post code                     2018                Country            Belgium

 

SHAREHOLDER NAME

Forename        Mukes                          h Middle name -

Surname          Saraiya

SHAREHOLDER DETAILS

Start date         24/02/1995                   End date          -

Percentage owned -

SHAREHOLDER ADDRESS

Street name     Belgiëlei                       House number 112

Minor town      -                                   Postal town      Antwerpen

Post code         2018                             Country            Belgium

 

 

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

 

Name               SACHIN SHAH

Position           Principal Manager

Start Date        04/08/2010

Street               2 GOUNODSTRAAT ANTWERPEN

Post code         2018

Country            Belgium

 

 

Former director details

 

Name               MUKESH RASHIKLAL SARAIYA

Position           Principal Manager

Start Date        24/02/1995

End Date          01/01/2014

Street               112 BELGIËLEI 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.60.99

UK Pound

1

Rs.99.09

Euro

1

Rs.79.03

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIS

 

               

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.