MIRA INFORM REPORT

 

 

Report No. :

337771

Report Date :

22.08.2015

 

IDENTIFICATION DETAILS

 

Name :

CHINTAMANI BVBA

 

 

Registered Office :

Schupstraat 9-/11, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

28.04.2005

 

 

Com. Reg. No.:

873540329

 

 

Legal Form :

Private  Limited  Company

 

 

LINE OF BUSINESS :

SUBJECT IS ENGAGED IN WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employees :

5

 

 

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 :

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 – 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 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

873540329

Branche  Unit  Number

2147106975

Company  Name

CHINTAMANI  BVBA

Address

SCHUPSTRAAT  9-/11

 

2018 ANTWERPEN

Number  of  staff

5

Date  of  establishment

28/04/2005

Telephone  number

032334474

Fax  number

032334474

 

 

Ultimate holding company

 

Company  Name

 

Company  Number

CHINTAMANI  DMCC

-

 

 

Commentary

 

The business was established over 9 years ago.

The business has 5 employees.

The business is part of a group.

The business has been at the address for over 11 months.

Operating Result in the latest trading period increased 76% on the previous trading period.

A 33% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 41% compared to the previous trading period.

The business saw an increase in their Cash Balance of 1312% during the latest trading period.

Turnover in the latest trading period increased 24% on the previous trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

72,438,738

90,264

3,059,861

8,002,736

31/12/2012

58,290,722

63,681

2,977,889

8,135,470

31/12/2011

69,084,436

69,902

2,905,678

8,216,458

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

24,248,073

5

2,597,892

94,873

31/12/2012

18,132,980

5

2,597,892

85,644

31/12/2011

17,564,159

5

2,597,892

83,948

 

 

Payment Expectation

 

Past  payments

 

Payment  expectation  days

34.08

Industry  average  payment

expectation  days

125.17

Industry  average  day  sales

outstanding

186.86

Day  sales  outstanding

97.01

 

 

 

 

COURT DATA SUMMARY

 

BANKRUPTCY DETAILS

Court action type                      No

PROTESTED BILLS

Bill amount                              -

NSSO DETAILS

Date of summons                     -

 

 

Company information

 

Business  number

873540329

Company  name

CHINTAMANI  BVBA

Fax  number

032334474

Date  founded

28/04/2005

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.0873.540.329  Check 

VAT Number

Belgian  Bullettin  of 

 Acts Publications

Moniteur  Belge

 

 

 

 

CONTRACTOR DETAILS

 

Registered  contractor

number

-

Contractor  description

Date  struck  off  register

-

 

 

PERSONNEL (NSSO CLASSIFICATION)

 

Code

-

Description

-

 

 

JOINT  INDUSTRIAL  COMMITTEE  (JIC)

JIC  Code

218

Description category

Additional  national  joint  committee  for  the  employees

 

 

JIC  Code

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

 

 

SIGNIFICANT EVENTS

 

Event  Date

17/12/2014

Event  Description

 

Event  Details

De  vennootschap  van  het  racht  van  de  staat  Dubai  Chintamani  DMCC  schrijft 

in op  675  nieuwe aandelen.

 

 

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

41,232

-20.78

52,046

12.58

46,229

-24.40

61,146

-22.94

79,347

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

33,040

-24.66

43,854

14.69

38,237

-28.47

53,453

-30.81

77,260

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

16,255

-26.95

22,250

84.23

12,077

-32.54

17,904

-9.91

19,874

Furniture  &  Vehicles

16,785

-22.30

21,604

-17.41

26,159

-26.42

35,550

-38.05

57,386

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

8,192

0

8,192

2.50

7,992

3.89

7,693

268

2,086

Total  current  assets

24,206,841

33.88

18,080,934

3.21

17,517,930

-39.26

28,839,105

80.89

15,943,155

Inventories

4,060,819

15.72

3,509,121

45.49

2,411,992

-72.41

8,743,558

1701

485,348

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

4,060,819

15.72

3,509,121

45.49

2,411,992

-72.41

8,743,558

1701

485,348

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

19,252,573

33.38

14,434,256

3.39

13,961,108

-30.14

19,985,648

33.66

14,952,790

Other  amounts  receivable

139,416

170

51,448

28.89

39,916

37.69

28,989

-88.37

249,227

Cash

718,046

1312

50,853

-95.30

1,082,947

1272

78,902

-68.44

249,982

Miscellaneous  current  assets

35,989

2.08

35,255

60.49

21,967

994

2,008

-65.43

5,808

Total  Assets

24,248,073

33.72

18,132,980

3.24

17,564,159

-39.22

28,900,251

80.37

16,022,502

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

3,059,861

2.75

2,977,889

2.49

2,905,678

2.19

2,843,486

67.44

1,698,253

Issued  share  capital

2,597,892

0

2,597,892

0

2,597,892

0

2,597,892

71.07

1,518,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

461,969

21.57

379,997

23.46

307,786

25.32

245,594

36.70

179,653

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

21,188,213

39.81

15,155,091

3.39

14,658,480

-43.74

26,056,766

81.91

14,324,250

Other  long  term  loans

4,984,108

-4.33

5,209,628

-2.75

5,357,008

35.52

3,952,889

-15.51

4,678,569

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

0

-1

Total  long  term  debts

4,984,108

-4.33

5,209,628

-2.75

5,357,008

35.52

3,952,889

-15.51

4,678,568

Current  portion  of  long  term  debt

-

-

-

-

-

-

11,070

-39.00

18,148

Financial  debts

9,436,215

60.57

5,876,774

-9.27

6,477,225

6.65

6,073,085

8.36

5,604,366

Trade  creditors

6,703,334

67.15

4,010,449

44.07

2,783,726

-82.57

15,970,643

300

3,983,779

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

51,037

-6.92

54,832

42.92

38,365

-19.50

47,655

46.33

32,567

Miscellaneous  current  liabilities

13,519

296

3,408

58.02

2,157

51.54

1,423

-79.13

6,821

Total  current  liabilities

16,204,105

62.93

9,945,463

6.92

9,301,472

-57.92

22,103,877

129

9,645,681

Total  Liabilities

24,248,073

33.72

18,132,980

3.24

17,564,159

-39.22

28,900,251

80.37

16,022,502

 

 

Ratio  Analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.12

9.09

0.11

10.0

0.10

-16.67

0.12

-20.0

0.15

Return  on  capital  employed

1.12

43.59

0.78

-8.24

0.85

-28.57

1.19

6.25

1.12

Return  on  total  assets  employed

0.37

5.71

0.35

-12.50

0.40

42.86

0.28

-36.36

0.44

Return  on  net  assets  employed

2.95

37.85

2.14

-11.20

2.41

-15.44

2.85

-31.98

4.19

Sales  /  net  working  capital

9.05

26.22

7.17

-14.74

8.41

-19.37

10.43

39.44

7.48

Stock  turnover  ratio

5.61

-6.81

6.02

72.49

3.49

-71.97

12.45

1108

1.03

Creditor  days

34.08

34.86

25.27

70.51

14.82

-82.29

83.69

168

31.17

Debtor  days

97.01

7.34

90.38

22.53

73.76

-29.00

103.89

-10.32

115.84

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.49

-18.13

1.82

-3.19

1.88

44.62

1.30

-21.21

1.65

Liquidity  ratio  /  acid  ratio

1.24

-15.65

1.47

-9.26

1.62

78.02

0.91

-43.12

1.60

Current  debt  ratio

5.30

58.68

3.34

4.38

3.20

-58.82

7.77

36.80

5.68

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

94,873

10.78

85,644

2.02

83,948

-13.87

97,466

27.58

76,394

Net  worth

3,059,861

2.75

2,977,889

2.49

2,905,678

2.19

2,843,486

67.44

1,698,253

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

471.27

26.59

372.29

-8.59

407.28

15.38

352.98

-41.81

606.57

Equity  in  percentage

12.62

-23.14

16.42

-0.73

16.54

68.09

9.84

-7.17

10.60

Total  debt  ratio

6.92

35.95

5.09

0.99

5.04

-44.98

9.16

8.66

8.43

Working  capital

8,002,736

-1.63

8,135,470

-0.99

8,216,458

21.99

6,735,228

6.95

6,297,474

 

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

72,470,064

24.26

58,320,605

-15.60

69,096,237

-1.60

70,219,349

49.04

47,113,182

Turnover

72,438,738

24.27

58,290,722

-15.62

69,084,436

-1.62

70,218,568

49.04

47,113,182

Total  operating  expenses

71,785,625

23.94

57,919,793

-15.50

68,545,241

-1.59

69,652,830

49.30

46,654,087

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

71,816,950

23.93

57,949,676

-15.47

68,557,042

-1.57

69,653,611

49.30

46,654,087

Employee  costs

163,459

2.43

159,584

-0.41

160,246

67.00

95,955

52.41

62,957

Wages  and  salary

132,673

2.70

129,189

-4.15

134,779

70.80

78,911

53.00

51,576

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

29,547

7.01

27,612

13.17

24,398

53.00

15,947

45.48

10,961

Other  employee  costs

1,239

-55.48

2,782

160

1,069

-2.54

1,097

161

419

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

12,901

-3.97

13,434

-38.25

21,755

-30.99

31,525

1.70

30,999

Operating  result

653,113

76.08

370,929

-31.21

539,195

-4.69

565,738

23.23

459,095

Total  financial  income

5,902

217

1,857

-61.68

4,846

23.00

3,940

98390

4

Total  financial  expenses

568,752

84.00

309,105

-34.81

474,139

-2.97

488,642

25.96

387,946

Results  on  ordinary  operations before  taxation

90,264

41.74

63,681

-8.90

69,902

-13.74

81,035

13.89

71,153

Extraordinary  Income

-

-

12,413

-

-

-

-

-

-

Extraordinary  Charges

0

-

-

-

4,130

-

-

-

-

Extraordinary  items

0

-100

12,413

300

-4,130

-

0

-

0

Results  for  the  Year  Before Taxation

90,264

18.62

76,093

15.69

65,772

-18.84

81,035

13.89

71,153

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

8,292

113

3,883

8.48

3,579

-76.29

15,094

-41.40

25,758

Results  on  ordinary  operations after  taxation

81,972

37.08

59,798

-9.84

66,322

0.58

65,941

45.26

45,395

Net  result

81,972

13.52

72,210

16.11

62,193

-5.68

65,941

45.26

45,395

Profit  (Loss)  for  the  Year  to  be Appropriated

81,972

13.52

72,210

16.11

62,193

-5.68

65,941

45.26

45,395

Dividend

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year ended  31-12-2013

 

Full-time  Employees

5

Part-time  Employees

-

Total  Fte  Employees

5

 

 

Number  of  hours  worked

 

Full-time  Employees

8,755

Part-time  Employees

-

Total

8,755

 

 

Personnel  Charges

 

Full-time  Employees

163,459

Part-time  Employees

-

Total

163,459

Benefits  In  Addition  To  Wages

-

 

 

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

5

Actual  working  hours

8,816

Personnel  Charges

159,584

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration Contracts

5

-

5

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding Substitution

-

-

-

 

 

Gender and Education Level

 

Men

Full-Time

Part-Time

Total  Fte

Primary  Education

2

-

2

Secondairy  Education

1

-

1

Higher  education  (non university)

-

-

-

Higher education (university)

-

-

-

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

1

-

1

Secondairy  education

1

-

1

Higher  education  (non university)

-

-

-

Higher  education (university)

-

-

-

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

3

-

3

Blue  collar  worker

2

-

2

Other

-

-

-

 

Industry Comparison

 

Activity  Code

 

46761

Activity  Description

 

Wholesale  of  diamonds  and  other  precious  stones

industry  Average  Credit Rating

 

64.48

Industry Average Credit Limits

 

140177.31

 

 

Payment Information

 

Payment Information Summary

 

Total  number  of  Invoices  available

6

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

4

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

1

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

1

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

0

 

 

Suspension  of  payments  /  moratorium  history

Amount

-

Details

-

 

 

Payment  expectations

 

Payment  expectation  days

34.08

Day  sales  outstanding

97.01

 

 

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

expectation  days

125.17

Industry  average  day  sales

outstanding

186.86

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

34.08

Lower

121.21

Median

74.93

Upper

46.53

 

 

Day Sales Outstanding

 

Company  result

97.01

Lower

102.33

Median

54.26

Upper

24.38

 

 

Shareholde4rs details

 

Summary

 

 

 

 

Group  -  Number  of  Companies

2

 

 

 

Linkages  -  Number  of  Companies

0

 

 

 

Number  of  Countries

0

 

 

 

 

 

Group Structure

Company  name

Number

Latest

- CHINTAMANI  DMCC

 

financials

- CHINTAMANI  BVBA

8735403.29

31-12-2013

 

 

 

 

 

 

 

 

 

Minority Shareholders

No minority  shareholders  found

 

Minority Interests

No minority  interests  found

 

 

Linked Companies

 

Summary

 

Group  -  Number  of  Companies

2

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

CHINTAMANI  DMCC

Position

Principal  Manager

Start  Date

05/08/2011

Street

3 GROUD  FLOOR

Post  code

 

Country

United  Arab  Emirates

Name

DUBAI  METALS  &  COMMODITIES  CENTRE

Position

Principal  Manager

Start  Date

01/04/2005

Street

 

Post  code

 

Country

 

 

 

Former director details

 

Name

MILAN  MEHTA

Position

Legal  Representative

Start  Date

01/07/2011

End  Date

Unknown  date

Street

44 FAZANTENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.83

UK Pound

1

Rs.103.39

Euro

1

Rs.74.27

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

ASH

               

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.