|
Report No. : |
306235 |
|
Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAMIR GEMS NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 30, Bus 279, Offices 454 – 465, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.04.1982 |
|
|
|
|
Com. Reg. No.: |
423673729 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesaler of watches and jewellery |
|
|
|
|
No. of Employees : |
From 1 To 4 Employees |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Belgium |
A2 |
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 |
Business number 423673729
Company name SAMIR GEMS NV
Address Hoveniersstraat 30, Bus 279, Offices 454 – 465, 2018 Antwerpen
Number of staff From 1 To 4 Employees
Date of establishment 01/04/1982
Telephone number 032275853
Fax number 032264549
The business was established over 31 years ago.
The business has been at the address for over 3 years.
A 38% growth in Total Assets occurred during the latest trading period.
The business saw an increase in their Cash Balance of 188% during the latest trading period.
|
Date
of latest accounts |
Turnover |
Profit
Before Tax |
Net worth |
Working
capital |
|
31/12/2012 |
191,552,565 |
330,932 |
24,995,866 |
26,673,403 |
|
31/12/2011 |
174,837,311 |
295,488 |
24,800,692 |
26,911,703 |
|
31/12/2010 |
113,159,559 |
159,690 |
24,609,401 |
26,660,445 |
Accounts
|
Date of latest accounts |
Balance
Total |
Number
of Employees |
Capital |
Cashflow |
|
31/12/2012 |
93,805,441 |
From 1 To 4 Employees |
20,000,000 |
293,861 |
|
31/12/2011 |
67,971,294 |
2 |
20,000,000 |
292,956 |
|
31/12/2010 |
47,948,150 |
2 |
20,000,000 |
178,367 |
Past payments
Payment expectation days 24.18
Industry average payment
expectation days 256.22
Day sales outstanding 105.05
Industry average day sales
outstanding 298.84
Bill amount -
NSSO details
Date of summons -
Business number 423673729
Company name SAMIR
GEMS NV
Fax number 032264549
Date founded 01/04/1982
Company status active
Company type Public
Limited Liability Company (BE)
Currency Euro
(€)
Date of latest accounts 31/12/2012
Activity code 46480
Liable for VAT yes
Activity description Wholesale
of watches and jewellery
Social Balance Sheet Details
Social Balance Sheet Total
During the reporting year
ended 31-12-2012
Full-time Employees 2
Part-time Employees 1
Total Fte Employees 3
Number of hours worked
Full-time Employees 2,690
Part-time Employees 1,040
Total 3,730
Personnel Charges
Full-time Employees 52,525
Part-time Employees 20,890
Total 73,416
Benefits In Addition To Wages –
During the previous reporting year
Average number employees in Fte 3
Actual working hours 4,824
Personnel Charges 85,382
Code -
Description FROM 1 TO 4
EMPLOYEES
JIC Code 218
Description Additional national
joint committee for the employees
category
JIC Code 324
Description Joint committee
for the industry and the trade in diamant
category
Event Date 15/05/2013
Event Description
Event Details De heer Samir
Bhansali schrijft in op 61 nieuwe aandelen en de heer Anjal Bhansali
schrijft in op 671
nieuwe aandelen.
|
Annual accounts |
31.12.2012 % |
31.12.2011 % |
31.12.2010 % |
industry average 2012 |
% |
|
Weeks |
52 |
52 |
52 |
|
|
|
Currency |
EUR |
EUR |
EUR |
|
|
|
Turnover |
191,552,565 9.56
|
174,837,311 54.51 |
113,159,559 |
39,029,323 |
390 |
|
Total
operating expenses |
189,863,922 9.62
|
173,199,565 54.59 |
112,040,485 |
38,660,226 |
391 |
|
Operating
result |
1,688,643 3.11 |
1,637,746 46.35 |
1,119,074 |
109,625 |
1440 |
|
Total
financial income |
1,153 -65.76 |
3,367 -24.10 |
4,436 |
66,253 |
-98.26 |
|
Total
financial expenses |
1,358,864 0.98 |
1,345,625 39.61 |
963,820 |
248,929 |
445 |
|
| Results on
ordinary operations before taxation |
330,932 11.99 |
295,488 85.04 |
159,690 |
-76,921 |
430 |
|
Taxation |
135,758 30.29 |
104,197 96.34 |
53,070 |
15,383 |
782 |
|
Results
on ordinary operations after taxation |
195,174 2.03 |
191,291 79.41 |
106,620 |
-87,085 |
224 |
|
Extraordinarv
items |
0 -- |
-- 0 |
0 |
-22,121 |
0 |
|
Other
appropriations |
0.00 -- |
-- 0.00 |
0 |
- |
- |
|
Net
result |
195,174 2.03 |
191,291 79.41 |
106,620 |
-109,133 |
178 |
|
|
other
information |
|
|
|
|
|
Gross
Operating Margin |
- |
- |
- |
63,396 |
- |
|
Dividends |
- |
- |
- |
137,637 |
- |
|
Director
remuneration |
102,036 -8.85 |
111,938 4.70 |
106,913 |
114,347 |
-10.77 |
|
Employee
costs |
73,416 -14.01 |
85,382 7.00 |
79,793 |
222,604 |
-67.02 |
|
Wages and salary |
59,601
-16.46 |
71,344 8.65 |
65,666 |
172,827 |
-65.51 |
|
Employee pension costs |
- |
- |
- |
3,154 |
- |
|
Social security contributions |
12,212
-7.88 |
13,256 7.70 |
12,308 |
46,223 |
-73.58 |
|
Other employee costs |
1,603 104 |
782
-57.00 |
1,819 |
6,114 |
-73.78 |
|
Amortization and depreciation |
98,687
-2.93 |
101,664 41.70 |
71,747 |
23,816 |
314 |
Annual accounts 31.12.2012 % 31.12.2011 % 31.12.2010 % industry
average 2012 %
Weeks 52 52 52
Currency EUR EUR EUR
Tangible fixed assets 3,299,814 -1.62 3,354,002 -2.76 3,449,242 201,019 1541
Land & building 3,158,060 -0.86 3,185,433 -2.09 3,253,334 376,355 739
Plant & machinery 11,501 -19.98 14,372 -21.51 18,311 24,305 -52.68
Furniture & Vehicles 130,254 -15.53 154,196 -13.18 177,597 20,845 8,230 524
Intangible fixed assets 0 - 0 - 0 4,058 -100
Other tangible assets 0 - 0 - 0 10,421 -100
Financial fixed assets 262,264 2038 12,264 0.00 12,264 581,115 -54.87
Total fixed assets 3,562,078 5.82 3,366,266 -2.75 3,461,506 557,112 539
Inventories 33,947,904 47.29 23,047,918 49.94 15,371,592 1,932,521 1656
Raw materials & consumables - - - - - 5,256,220 -
Work in progress 0 - 0 - 0 352 -100
Finished goods 33,947,904 47.29 23,047,918 49.94 15,371,592 1,188,337 2756
Other stocks 0 - 0 - 0 295,544 -100
Trade debtors 55,129,437 34.84 40,885,500 42.48 28,694,915 2,667,060 1967
Cash 901,577 188 312,953 180 111,570 184,057 389
other amounts receivable 263,895 -26.42 358,657 16.23 308,567 392,421 -32.75
Miscellaneous current assets 550 - 0 - 0 57,580 -99
Total current assets 90,243,362 39.68 64,605,028 45.22 44,486,644 4,825,819 1770
|
Trade
creditors |
12,576,255 |
122 |
5,659,278 |
221 |
1,758,047 |
1,352,020 |
830 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
50,669,461 |
59.52
31,764,694 |
100 |
15,830,264 |
5,094,423
37,143 |
894 |
|
|
Current
portion of long term debt |
139,689 |
-13.22
160,962 |
-13.14
185,308 |
100,793 16,884 |
38.59 |
||
|
Amounts Payable for
Taxes. Remuneration & Social Security |
127,404 |
231 |
38,460 |
314 |
9,286 |
10,916- |
209 |
|
Miscellaneous
current liabilities |
57,151 |
-18.28
69,931 |
61.53 |
43,294 |
-88.26 |
-- |
|
|
Total
current liabilities |
63,569,959 |
68.65 |
37,693,325 |
111 |
17,826,199
3,643,205 |
1644 |
|
Long
term debts and liabilities
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
-- |
|
Other
long term loans |
5,239,615 |
-4.34 |
5,477,276 |
-0.64 |
5,512,550 |
450 |
-- |
|
Deffered
taxes |
- |
- |
- |
- |
- |
41,956
23,311 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
15,054
0 |
-100 |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
266,905 |
-100 |
|
Total
long term debts |
5,239,615 |
-4.34 |
5,477,276 |
-0.64 |
5,512,550 |
659,913 |
693 |
shareholders
equity
|
Issued
share capital |
20,000,000 |
0 |
20,000,000 |
0 |
20,000,000
683,338 |
2826 |
|
|
Share
premium account |
- |
- |
- |
- |
- |
255,692 |
- |
|
Reserves |
4,672,866 |
4.36 |
4,477,692 |
4.46 |
4,286,401 |
311,470 |
1400 |
|
Revaluation
reserve |
323,000 |
0 |
323,000 |
0 |
323,000 |
526,518 |
-38.65 |
|
Total
shareholders equity |
24,995,866 |
0.79 |
24,800,692 |
0.78 |
24,609,401 |
1,011,534 |
2371 |
|
Working
capital |
26,673,403 |
-0.89 |
26,911,703
0.94 |
26,660,445 |
1,182,614 |
2155 |
|
|
Cashflow |
293,861 |
0.31 |
292,956 |
64.24 |
178,367 |
-89,631 |
327 |
|
Net
worth |
24,995,866 |
0.79 |
24,800,692
0.78 |
24,609,401 |
1,007,476 |
2381 |
|
|
Annual
Accounts |
31.12.2012 |
% |
31.121.2011 |
% |
31.12.2010 |
Industry
Average |
% |
|
Profit
Before Tax |
0.17 |
0 |
0.17 |
21.43 |
0.14 |
-122,00 |
0.14 |
|
Return
on capital employed |
1.09 |
11.22 |
0.98 |
84.91 |
0.53 |
333,00 |
-99 |
|
Return on total
assets employed |
0.35 |
-18.60 |
0.43 |
30.30 |
0.33 |
-11,00 |
3.18 |
|
Return on net assets employed |
1.32 |
10.92 |
1.19 |
83.08 |
0.65 |
336,00 |
-99 |
|
Sales
/ net working capital |
7.18 |
10.46 |
6.50 |
53.30 |
4.24 |
1,00 |
-99 |
|
Stock
turnover ratio |
17.72 |
34.45 |
13.18 |
-2.95 |
13.58 |
629,00 |
-97.18 |
|
Debtor days |
105.05 |
23.08 |
85.35 |
-7.79 |
92.56 |
232,00 |
-54.72 |
|
Creditor days |
24.18 |
102 |
11.93 |
108 |
5.73 |
154,00 |
-84.30 |
short
term stability
|
Current
ratio |
1.42 |
-16.96 |
1.71 |
-31.60 |
2.50 |
66,00 |
-98.35 |
|
Liquidity
ratio / acid ratio |
0.89 |
-19.09 |
1.10 |
-32.52 |
1.63 |
59,00 |
-98.49 |
|
Current
debt ratio |
2.54 |
67.11 |
1.52 |
111 |
0.72 |
86,00 |
-97.05 |
|
Liquidity
ratio reprocessed |
: |
- |
- |
- |
- |
- |
- |
Long
term stability
|
,
Gearing |
224.23 |
48.68 |
150.81 |
72.39 |
87.48 |
261,00 |
-14.09 |
|
Equity
in percentage |
26.65 |
-26.97 |
36.49 |
-28.91 |
51.33 |
-1.227,00 |
2.17 |
|
Total
debt ratio |
2.75 |
58.05 |
1.74 |
83.16 |
0.95 |
86,00 |
-96.80 |
Activity code 6480
Activity description Wholesale
of watches and jewellery
Amount -
Details -
Payment expectations
Payment expectation days 24.18
Day sales outstanding 105.05
Activity code 46480
Activity description Wholesale
of watches and jewellery
Industry average payment
expectation days 256.22
Industry average day sales
outstanding 298.84
Payment expectations
Company result 24.18
Lower 125.80
Median 57.54
Upper 17.14
Day sales outstanding
Company result 105.05
Lower 123.34
Median 55.69
Upper 22.32
Group - Number of Companies 0
Linkages - Number of Companies 0
Number of Countries 0
Shareholder Name
Forename Anjal
Middle name -
Surname Bhansali
Shareholder Details
Start date 03/06/2013(estimated)
End date -
Percentage owned -
Shareholder Address
Street name Flamingolaan
House number 5
Minor town Wilrijk
Postal town Antwerpen
Post code 2610
Country Belgium
Shareholder Name
Forename Samir
Middle name -
Surname Bhansali
Shareholder Details
Start date 03/11/1999(estimated)
End date -
Percentage owned -
Shareholder Address
Street name Flamingolaan
House number 5
Minor town Wilrijk
Postal town Antwerpen
Post code 2610
Country Belgium
Group - Number of Companies 0
Linkages - Number of Companies 0
Number of Countries 0
there is no data for this company
Current director
details
Name SAMIR JAYANTILAL BHANSALI
Position Director
Start Date 27/03/1996
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2610
Country Belgium
Name SAMIR
JAYANTILAL BHANSALI
Position Chairman
of the Board
Start Date 27/03/1996
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2610
Country Belgium
Name SAMIR
JAYANTILAL BHANSALI
Position Managing
Director
Start Date 28/04/2007
Street 5 FLAMINGOLAAN
ANTWERPEN
Post code 2610
Country Belgium
Name ANJAL
BHANSALI
Position Managing
Director
Start Date 27/04/2013
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2610
Country Belgium
Name ANJAL
BHANSALI
Position Director
Start Date 27/04/2013
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2610
Country Belgium
Name SUNIL
ARVINDKUMAR SHAH
Position Director
Start Date 28/04/2007
End Date 27/04/2013
Street 102
BELGIËLEI ANTWERPEN
Post code 2018
Country Belgium
Name MEERA
ZAVERI
Position Director
Start Date 28/04/2007
End Date 28/04/2013
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2018
Country Belgium
Name ZAVERI
MEERA
Position Director
Start Date 28/04/2007
End Date 31/12/2010
Street 5
FLAMINGOLAAN ANTWERPEN
Post code 2610
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.61.76 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.