MIRA INFORM REPORT

 

 

Report No. :

336157

Report Date :

17.08.2015

 

IDENTIFICATION DETAILS

 

Name :

RAJ GEMS BVBA

 

 

Registered Office :

Hoveniersstraat 2-Bus 308 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

26.07.2007

 

 

Com. Reg. No.:

891406640

 

 

Legal Form :

Private Limited Company (BL/LX)

 

 

Line of Business :

Wholesale of diamonds and other precious stones

 

 

No. of Employee :

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Belgium

A2

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 shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the the budget deficit was 3.2% of GDP. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

 

Source : CIA

Company summary

 

Business number                     891406640

Branche Unit Number               2164703171

Company name                        RAJ GEMS BVBA

Address                                   HOVENIERSSTRAAT 2-BUS 308

2018 ANTWERPEN

Number of staff                        0

Date of establishment               26/07/2007

Telephone number                   032253100

Fax number

 

 

Commentary

 

The business was established over 8 years ago.

No employees are recorded for this business.

The business has been at the address for over 22 months.

Operating Result in the latest trading period increased 97% on the previous trading period.

A 64% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 131% compared to the previous trading period.

Turnover in the latest trading period increased 51% on the previous trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

45,731,635

126,112

598,090

675,493

31/12/2012

30,126,416

54,457

-47,991

130,016

31/12/2011

35,120,422

87,186

-99,077

86,796

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

11,494,206

0

18,600

105,042

31/12/2012

6,988,838

0

18,600

60,059

31/12/2011

7,774,057

0

18,600

-198,543

 

 

Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

82.05

Industry  average  payment

106.29

Industry  average  day  sales

173.24

expectation  days

 

outstanding

 

Day  sales  outstanding

61.70

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

PROTESTED BILLS

Bill amount                                --

NSSO DETAILS

Date of summons                     --

 

 

Company information

 

Business  number

891406640

Company  name

RAJ  GEMS  BVBA

Fax  number

 

Date  founded

26/07/2007

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.0891.406.640  Check  VAT number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

Contractor details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

 

 

PERSONNEL  (NSSO  CLASSIFICATION)

 

Code

-

Description

-

 

 

JOINT  INDUSTRIAL  COMMITTEE  (JIC)

 

Significant  Events

 

Event  Date

31/10/2012

Event  Description

proposal  to  change  address  filed

Event  Details

 

 

 

Company accounts

 

ASSETS

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

%

31-12-2009

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

295,404

1292

21,209

-26.07

28,689

-21.93

36,746

-14.68

43,068

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

294,904

1464

18,850

-28.41

26,330

-24.53

34,887

-18.99

43,068

Land  &  building

283,482

-

-

-

-

-

-

-

-

Plant  &  machinery

3,043

-22.10

3,906

-20.96

4,942

-18.79

6,085

-11.19

6,852

Furniture  &  Vehicles

8,379

-43.93

14,944

-30.13

21,388

-25.74

28,802

-20.47

36,216

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

500

-78.80

2,359

0

2,359

26.90

1,859

-

-

Total  current  assets

11,198,802

60.73

6,967,629

-10.04

7,745,369

18.85

6,516,848

15.19

5,657,653

Inventories

2,765,581

281

725,356

-36.90

1,149,517

0.66

1,141,934

7.43

1,062,954

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

2,765,581

281

725,356

-36.90

1,149,517

0.66

1,141,934

-

0

Other  stocks

0

-

0

-

0

-

0

-100

1,062,954

Trade  debtors

7,731,066

40.57

5,499,627

-15.30

6,492,792

44.29

4,499,677

6.70

4,217,217

Other  amounts  receivable

12,594

44.10

8,740

96.84

4,440

167

1,658

-77.68

7,427

Cash

684,358

-6.25

729,945

713

89,780

-89.67

869,322

136

367,380

Miscellaneous  current  assets

5,203

31.37

3,961

-55.20

8,840

107

4,257

59.10

2,676

Total  Assets

11,494,206

64.47

6,988,838

-10.10

7,774,057

18.62

6,553,594

14.96

5,700,721

 

 

LIABILITIES

 

Total  shareholders  equity

598,090

1246

-47,991

48.44

-99,077

-191

108,423

48.15

73,184

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

579,490

870

-66,591

56.59

-117,677

-231

89,823

64.56

54,584

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

10,896,116

54.84

7,036,829

-10.62

7,873,135

22.16

6,445,172

14.53

5,627,537

Other  long  term  loans

372,806

87.14

199,216

-7.15

214,562

-6.34

229,082

-5.66

242,827

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

372,806

87.14

199,216

-7.15

214,562

-6.34

229,082

-5.66

242,827

Current  portion  of  long  term  debt

34,053

121

15,346

5.69

14,520

5.64

13,745

5.66

13,008

Financial  debts

93,581

-

-

-

1,674

-48.43

3,246

-66.71

9,753

Trade  creditors

10,244,821

67.23

6,126,212

-8.10

6,665,867

21.22

5,499,132

16.64

4,714,564

Amounts  Payable  for  Taxes,

41,644

64.39

25,332

-91.41

294,751

653

39,117

17.35

33,333

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

109,211

-83.72

670,724

-1.62

681,761

3.16

660,850

7.62

614,053

Total  current  liabilities

10,523,309

53.90

6,837,613

-10.72

7,658,573

23.21

6,216,090

15.44

5,384,711

Total  Liabilities

11,494,206

64.47

6,988,838

-10.10

7,774,057

18.62

6,553,594

14.96

5,700,721

 

 

RATIO  ANALYSIS

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

0.28

55.56

0.18

-28.00

0.25

19.05

0.21

-

-

Return  on  capital  employed

12.99

-63.93

36.01

-52.30

75.50

351

16.72

3.59

16.14

Return  on  total  assets  employed

1.10

41.03

0.78

-30.36

1.12

30.23

0.86

-3.37

0.89

Return  on  net  assets  employed

21.09

18.59

-113.47

-28.94

-88.00

-269

52.04

-25.33

69.69

Sales  /  net  working  capital

67.70

-70.78

231.71

-42.74

404.63

344

91.12

-

-

Stock  turnover  ratio

6.05

151

2.41

-26.30

3.27

-21.58

4.17

-

-

Creditor  days

82.05

10.25

74.42

7.08

69.50

-5.38

73.45

-

-

Debtor  days

61.70

-7.40

66.63

-1.26

67.48

12.60

59.93

-

-

 

SHORT  TERM  STABILITY

 

Current  ratio

1.06

3.92

1.02

0.99

1.01

-3.81

1.05

0

1.05

Liquidity  ratio  /  acid  ratio

0.80

-12.09

0.91

5.81

0.86

0

0.86

1.18

0.85

Current  debt  ratio

17.59

12.35

-142.48

-84.32

-77.30

-234

57.33

-22.08

73.58

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

105,042

74.90

60,059

30.25

-198,543

-550

44,119

26.32

34,926

Net  worth

598,090

1246

-47,991

48.44

-99,077

-191

108,423

48.15

73,184

 

LONG  TERM  STABILITY

 

Gearing

83.67

18.71

-447.08

-91.96

-232.90

-202

226.96

-37.46

362.90

Equity  in  percentage

5.20

753

-0.69

54.33

-1.27

-176

1.65

28.91

1.28

Total  debt  ratio

18.22

12.43

-146.63

-84.53

-79.46

-233

59.44

-22.70

76.90

Working  capital

675,493

419

130,016

49.80

86,796

-71.14

300,758

10.19

272,943

 

 

PROFIT  &  LOSS

 

Operating  Income

45,734,774

51.81

30,127,096

-14.22

35,122,293

28.16

27,405,601

-

-

Turnover

45,731,635

51.80

30,126,416

-14.22

35,120,422

28.15

27,405,601

-

-

Total  operating  expenses

45,574,058

51.68

30,046,774

-14.18

35,009,799

28.12

27,326,113

-

-

Gross  Operating  Margin

-

-

-

-

-

-

-

-

85,687

Operating  Charges

45,577,197

51.68

30,047,454

-14.18

35,011,670

28.13

27,326,113

-

-

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

39,015

2.71

37,987

49.91

25,339

-

-

-

-

Amortization  and  depreciation

15,775

75.80

8,973

0.18

8,957

0.86

8,881

361

1,925

Operating  result

157,577

97.86

79,642

-28.01

110,623

39.17

79,488

-3.11

82,040

Total  financial  income

3

-98.17

169

7251

2

114

1

-66.14

3

Total  financial  expenses

31,468

24.11

25,354

8.17

23,439

1.60

23,071

-25.68

31,042

Results  on  ordinary  operations  before

126,112

131

54,457

-37.54

87,186

54.54

56,418

10.62

51,001

taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

126,112

131

54,457

-37.54

87,186

54.54

56,418

10.62

51,001

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

36,845

992

3,371

-98.86

294,686

1291

21,179

17.66

18,000

Results  on  ordinary  operations  after

89,267

74.74

51,086

24.62

-207,500

-688

35,239

6.78

33,001

taxation

 

 

 

 

 

 

 

 

 

Net  result

89,267

74.74

51,086

24.62

-207,500

-688

35,239

6.78

33,001

Profit  (Loss)  for  the  Year  to  be appropiated

89,267

74.74

51,086

24.62

-207,500

-688

35,239

6.78

33,001

 

 

Industry comparison

 

Activity code                46761

Activity description      Wholesale of diamonds and other precious stones

 

 

Payment Information

 

SUSPENSION  OF  PAYMENTS  /  MORATORIUM  HISTORY

 

Amount

-

Details

-

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

82.05

Day  sales  outstanding

61.70

 

INDUSTRY  COMPARISON

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

106.29

Industry average day sales

outstanding

173.24

 

 

Industry quartile analysis

 

PAYMENT EXPECTATIONS

 

Company result            82.05

Lower                           118.32

Median                         76.07

Upper                           45.73

 

 

DAY SALES OUTSTANDING

 

Company result            61.70

Lower                           102.58

Median                         55.56

Upper                           25.25

 

 

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

 

COMPANIES THAT MATCH THIS ADDRESS

no Companies Match this address

 

 

Linked Companies

 

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

 

 

Director details

 

CURRENT DIRECTOR DETAILS

 

Name

NILESH  BABULAL  SHAH

Position

Principal  Manager

Start  Date

13/08/2007

Street

22 ADRIAAN  WILLAERTSTRAAT  EDEGEM

Post  code

2650

Country

Belgium

 

 

FORMER DIRECTOR DETAILS

 

--

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.12

UK Pound

1

Rs.101.62

Euro

1

Rs.72.56

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

ANK

 

 

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.