MIRA INFORM REPORT
|
Report No. : |
304162 |
|
Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GPN DIAMOND BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat
2, Suite 422 - Bus 595 2018 Antwerp |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.06.2011 |
|
|
|
|
Com. Reg. No.: |
837519180 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Engaged as Wholesaler of diamonds and
Other Precious Stones ·
Engaged in manufacturing Round Brilliant Cut Diamonds.(RBC) ·
Subject is specialist in0.02cts &
down stones. |
|
|
|
|
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 |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 837519180
Branche Unit Number 2200344634
Company name GPN DIAMOND BVBA
Address Hoveniersstraat 2, Suite 422 -
Bus 595 2018 Antwerp Belgium
Tel No.: +32
3 233 47 00
Fax No.: +32
3 233 48 01
Number of staff From 1 To 4 Employees
Date of establishment 22/06/2011
Telephone number 032334700
Fax number 032334801
Commentary
The business has been at the address for over 3 years. 
Operating Result in the latest trading period decreased 71% on the previous trading period. 
Net Worth increased by 27% during the latest trading period. 
A 217% growth in Total Assets occurred during the latest trading period.
Pre-tax profits decreased by 65% compared to the previous trading period.
The business saw an increase in their Cash Balance of 49% during the latest trading period.
Account
DATE OF LATEST
ACCOUNTS TURNOVER
PROFIT BEFORE TAX NET WORTH WORKING CAPITAL
31/12/2013 ---
30,299
97,781 94,053
31/12/2012 27,655,421 88,209 76,662 72,342
Accounts
DATE OF LATEST
ACCOUNTS BALANCE TOTAL NUMBER OF EMPLOYEES CAPITAL CASHFLOW
31/12/2013 5,269,085 From 1 To 4 Employees 18,600
21,711
31/12/2012 1,657,622 0 18,600
59,643
TRENDS
|
Profitability |
|
|
Liquidity |
|
|
Net worth |
|
Payment expectations
Industry average payment
expectation days 124.26
Industry average day sales
outstanding 181.52
Company information
Business number 837519180
Company name GPN DIAMOND BVBA
Fax number 032334801
Date founded 22/06/2011
Company status active
Company type Private Limited Company
(BL/LX)
Currency Euro (€)
Date of latest accounts
31/12/2013
Liable for VAT yes
VAT Number BE.0837.519.180
Belgian Bullettin of Acts
Publications moniteur belge
Activity Description
·
Engaged as Wholesaler of diamonds and
Other Precious Stones
·
Engaged in manufacturing
Round Brilliant Cut Diamonds.(RBC)
·
Subject is specialist in0.02cts & down
stones.
Personnel
(NSSO classification)
Code Description FROM 1 TO 4 EMPLOYEES
Joint Industrial Committee
(JIC)
Significant Events
Event Date
08/09/2014
Event Description
resignation-appointment of director(s)
Event Details
Commentaar 30-09-2014: Samir Shah krijgt ontslag als zaakvoerder met ingang van 30-09-2014.
Dharmin Bhikadiya wordt benoemd als zaakvoerder met ingang van 1-10-2014
company accounts
Assets
Annual accounts
31-12-2013
% 31-12-2012
Weeks 52 80
Currency EUR EUR
Total fixed assets 3,728 -13.70 4,320
Tangible fixed assets 3,418 -14.76 4,010
Plant & machinery 2,977 -11.11 3,349
Furniture & Vehicles
441
-33.28 661
Financial fixed assets 310 0 310
Total current assets 5,265,357 218 1,653,302
Inventories 4,289,714
334 987,099
Other stocks 4,289,714
334 987,099
Trade debtors 916,652 48.00 619,359
Other amounts receivable
26,163 14.55 22,839
Cash 27,619 49.12 18,521
Miscellaneous current assets
5,209 -5.01 5,484
Total Assets 5,269,085
217 1,657,622
Liabilities
Total shareholders equity
97,781 27.55 76,662
Issued share capital 18,600 0 18,600
Reserves 79,181 36.37 58,062
Creditors 5,171,304 227 1,580,960
Trade creditors 5,163,629 230 1,563,852
Amounts Payable for Taxes,
Remuneration & Social Security
7,663 -45.45 14,047
Miscellaneous current liabilities
12 -99 3,061
Total current liabilities
5,171,304 227 1,580,960
Total Liabilities 5,269,085
217 1,657,622
ratio analysis
TRADING PERFORMANCE
Profit Before Tax
- - 0.32
Return on capital employed
30.99 -73.07 115.06
Return on total assets employed
0.58 -89.10
5.32
Return on net assets employed
30.99 -73.07 115.06
Sales / net working capital
- - 382.29
Stock turnover ratio - - 3.57
Creditor days - -
20.71
Debtor days - - 8.17
SHORT TERM STABILITY
Current ratio
1.02
-2.86 1.05
Liquidity ratio / acid ratio
0.19 -54.76 0.42
Current debt ratio 52.89 156 20.62
Cashflow 21,711 -63.60 59,643
Net worth 97,781
27.55 76,662
LONG TERM STABILITY
Equity in percentage
1.86 -59.74 4.62
Total debt ratio 52.89 156 20.62
Working capital 94,053 30.01 72,342
Profit & loss
Turnover - - 27,655,421
Total operating expenses
- - 27,566,060
Gross Operating Margin 26,694 -79.33 129,123
Employee costs 73 -99 35,684
Wages and salary 73 -99 29,655
Social security contributions - - 5,773
Other employee costs 0 -100 257
Amortization and depreciation
592 -62.56 1,581
Operating result 25,145 -71.86 89,361
Total financial income 9,337 11.38 8,383
Total financial expenses
4,183 -56.13 9,535
Results on ordinary operations
before taxation 30,299 -65.65 88,209
Results for the Year Before
Taxation 30,299 -65.65 88,209
Taxation 9,180 -69.55 30,147
Results on ordinary operations
after taxation 21,119 -63.63 58,062
Net result 21,119
-63.63 58,062
Profit (Loss) for the Year to be
appropriated 21,119 -63.63 58,062
Social Balance Sheet Details
During the previous reporting year
Average number employees in Fte
1
Actual working hours 1,064
Personnel Charges 35,684
Industry comparison
Activity description
·
Engaged as Wholesaler of diamonds and
Other Precious Stones
·
Engaged in manufacturing
Round Brilliant Cut Diamonds.(RBC)
·
Subject is specialist in0.02cts & down
stones.
Industry average payment
expectation days 124.26
Industry average day sales
outstanding 181.52
Industry quartile analysis
Payment expectations
Company result
Lower 120.76
Median 74.63
Upper 46.13
Day sales outstanding
Company result Lower 102.27
Median 54.26
Upper 24.38
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
Name DHARMIN
BHIKADIYA
Position Principal Manager
Start Date 01/10/2014
Street 16 QUINTEN MATSIJSLEI ANTWERPEN
Post code 2018
Country Belgium
Former Director Details
Name SAMIR
SHAH SAMIR
Position Principal Manager
Start Date 22/06/2011
End Date 30/09/2014
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.61.87 |
|
UK Pound |
1 |
Rs.94.07 |
|
Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.