|
Report No. : |
309881 |
|
Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GEMBEL EUROPEAN SALES NV |
|
|
|
|
Registered Office : |
Vestingstraat 74, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
11.03.1997 |
|
|
|
|
Com. Reg. No.: |
460253815 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Diamonds and Other Precious Stones |
|
|
|
|
No. of Employees : |
7 |
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 – 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 |
Business number 460253815
Branch Unit Number 2081116489
Company name GEMBEL EUROPEAN SALES NV
Address VESTINGSTRAAT
74
2018
ANTWERPEN
Number of staff 7
Date of establishment
11/03/1997
Telephone number 032314815
Fax number 032340539
The business was established over 17 years ago.
The business has 5 employees.
The business has been at the address for over 17 years.
Operating Result in the latest trading period increased 112% on the
previous trading period.
A 26% growth in Total Assets occurred during the latest trading period.
Pre-tax profits increased by 130% compared to the previous trading
period.
The business saw an increase in their Cash Balance of 235% during the
latest trading period.
Turnover in the latest trading period increased 75% on the previous
trading period.
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/03/2013 |
104,897,517 |
495,459 |
20,976,309 |
27,227,963 |
|
31/12/2011 |
59,611,968 |
215,221 |
20,811,909 |
26,983,926 |
|
31/12/2010 |
62,726,119 |
209,332 |
20,698,495 |
26,610,315 |
|
Accounts |
||||
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/03/2013 |
102,254,021 |
7 |
957,582 |
188,684 |
|
31/12/2011 |
80,551,121 |
8 |
957,582 |
155,706 |
|
31/12/2010 |
72,702,008 |
8 |
957,582 |
164,899 |
Past payments
Payment expectation days 183.89
Industry average payment
expectation days 124.07
Industry average day sales
Outstanding 140.43
Day sales outstanding 286.59
Court data summary
BANKRUPTCY DETAILS
Court action type No
PROTESTED BILLS
Bill amount -
NSSO DETAILS
Date of summons 16/12/2014
|
Business
number |
460253815 |
Company name |
GEMBEL EUROPEAN SALES NV |
|
Fax number |
032340539 |
Date founded |
11/03/1997 |
|
Company
status |
active |
Company type |
Public Limited Liability Company (BE) |
|
Currency |
Euro (€) |
Date of latest accounts |
31/03/2013 |
|
Activity
code |
46761 |
Liable for VAT |
yes |
|
Activity description |
Wholesale of diamonds and VAT Number other precious stones |
BE.0460.253.815 Check VAT
number |
|
|
Belgian
Bullettin of Acts |
|
|
|
Personnel (NSSO classification)
Code -
Description FROM 5 TO 9
EMPLOYEES
Joint Industrial Committee (JIC)
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
Significant Events
Event Date 16/12/2014
Event Description re-appointment of
director(s)
Event Details Commentaar
16-12-2014: Herbenoemd als bestuurders en gedelegeerd bestuurders voor een periode van 6 jaar :
Rashmi, Chetan en Bhavin Mehta.
Assets
|
Annual accounts |
31-03-2013 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
% |
31-12-2008 |
|
Weeks |
65 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
|
|||||||||
|
Total fixed assets |
767,447 |
-2.07 |
783,698 |
-4.87 |
823,780 |
555 |
125,605 |
-33.87 |
189,936 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
-100 |
678 |
-73.29 |
2,538 |
|
Tangible fixed assets |
17,447 |
-48.23 |
33,698 |
-54.33 |
73,780 |
-40.94 |
124,927 |
-33.34 |
187,398 |
|
Land & building |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Plant & machinery |
6,836 |
-61.48 |
17,744 |
-45.55 |
32,588 |
-32.15 |
48,027 |
-28.04 |
66,736 |
|
Furniture & Vehicles |
10,611 |
-32.66 |
15,758 |
-61.37 |
40,793 |
-45.89 |
75,387 |
-35.40 |
116,691 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other tangible assets |
0 |
-100 |
197 |
-50.54 |
398 |
-73.69 |
1,514 |
-61.88 |
3,971 |
|
Financial fixed assets |
750,000 |
0 |
750,000 |
0 |
750,000 |
- |
- |
- |
- |
|
Total current assets |
101,486,574 |
27.23 |
79,767,423 |
10.98 |
71,878,229 |
-17.88 |
87,527,159 |
-3.15 |
90,378,089 |
|
Inventories |
14,597,779 |
-23.27 |
19,023,627 |
-30.73 |
27,464,584 |
-13.81 |
31,866,681 |
-27.55 |
43,986,242 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
14,597,779 |
-23.27 |
19,023,627 |
-30.73 |
27,464,584 |
-13.81 |
31,866,681 |
-27.55 |
43,986,242 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade debtors |
82,362,526 |
39.80 |
58,913,090 |
44.66 |
40,726,544 |
-24.62 |
54,026,465 |
23.08 |
43,895,462 |
|
Other amounts receivable |
213,121 |
291 |
54,447 |
420 |
10,457 |
-94.19 |
180,024 |
-22.01 |
230,823 |
|
Cash |
3,468,367 |
235 |
1,033,583 |
-64.16 |
2,883,751 |
296 |
727,342 |
-53.45 |
1,562,336 |
|
Miscellaneous current assets |
154,103 |
156 |
60,015 |
-30.74 |
86,657 |
- |
0 |
- |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
102,254,021 |
26.94 |
80,551,121 |
10.80 |
72,702,008 |
-17.06 |
87,652,764 |
-3.22 |
90,568,025 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
20,976,309 |
0.79 |
20,811,909 |
0.55 |
20,698,495 |
0.52 |
20,592,099 |
0.42 |
20,506,526 |
|
|
|||||||||
|
Issued share capital |
957,582 |
0 |
957,582 |
0 |
957,582 |
0 |
957,582 |
0.00 |
957,582 |
|
|
|||||||||
|
Share premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|||||||||
|
Revaluation reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|||||||||
|
Reserves |
20,018,727 |
0.83 |
19,854,327 |
0.57 |
19,740,913 |
0.54 |
19,634,516 |
0.44 |
19,548,944 |
|
Provisions for Liabilities & |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Charges |
|
|
|
|
|
|
|
|
|
|
Deffered taxes |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Creditors |
81,277,711 |
36.05 |
59,739,212 |
14.88 |
52,003,513 |
-22.45 |
67,060,666 |
-4.28 |
70,061,499 |
|
Other long term loans |
7,019,100 |
0.91 |
6,955,715 |
829 |
748,391 |
- |
- |
- |
- |
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other long term liabilities |
0 |
- |
0 |
-100 |
5,987,209 |
7.81 |
5,553,600 |
-3.39 |
5,748,365 |
|
Total long term debts |
7,019,100 |
0.91 |
6,955,715 |
3.27 |
6,735,600 |
21.28 |
5,553,600 |
-3.39 |
5,748,365 |
|
Current portion of long term debt |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Financial debts |
22,002,070 |
11.14 |
19,795,967 |
3.31 |
19,161,667 |
-28.10 |
26,650,742 |
-4.16 |
27,807,477 |
|
Trade creditors |
51,901,789 |
59.59 |
32,522,557 |
26.63 |
25,682,287 |
-25.90 |
34,659,071 |
-4.34 |
36,232,451 |
|
Amounts Payable for Taxes, |
91,377 |
-0.01 |
91,389 |
3.07 |
88,663 |
128 |
38,871 |
-1.58 |
39,496 |
|
Remuneration & Social Security |
|
|
|
|
|
|
|
|
|
|
Miscellaneous current liabilities |
263,375 |
-29.50 373,585 |
11.42 |
335,296 |
111 |
158,382 |
-32.23 |
233,710 |
|
|
Total current liabilities |
74,258,611 |
40.69 |
52,783,497 |
16.60 |
45,267,913 |
-26.40 |
61,507,066 |
-4.36 |
64,313,134 |
|
Total Liabilities |
102,254,021 |
26.94 |
80,551,121 |
10.80 |
72,702,008 |
-17.06 |
87,652,764 |
-3.22 |
90,568,025 |
|
|
|
|
|
|
|
|
|
|
|
|
RATIO ANALYSIS |
|||||||||
|
TRADING PERFORMANCE |
|||||||||
|
Profit Before Tax |
0.47 |
30.56 |
0.36 |
9.09 |
0.33 |
-2.94 |
0.34 |
100 |
0.17 |
|
Return on capital employed |
1.77 |
126 |
0.78 |
2.63 |
0.76 |
11.76 |
0.68 |
54.55 |
0.44 |
|
Return on total assets employed |
0.48 |
77.78 |
0.27 |
-6.90 |
0.29 |
45.00 |
0.20 |
53.85 |
0.13 |
|
Return on net assets employed |
2.36 |
129 |
1.03 |
1.98 |
1.01 |
16.09 |
0.87 |
55.36 |
0.56 |
|
Sales / net working capital |
3.85 |
74.21 |
2.21 |
-6.36 |
2.36 |
18.59 |
1.99 |
-23.75 |
2.61 |
|
Stock turnover ratio |
13.92 |
-56.38 |
31.91 |
-27.11 |
43.78 |
-28.96 |
61.63 |
-4.74 |
64.70 |
|
Creditor days |
183.89 |
-9.02 |
202.13 |
30.20 |
155.25 |
-38.46 |
252.27 |
21.77 |
207.17 |
|
Debtor days |
286.59 |
-20.55 |
360.72 |
52.21 |
236.99 |
-37.86 |
381.37 |
61.82 |
235.67 |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current ratio |
1.37 |
-9.27 |
1.51 |
-5.03 |
1.59 |
11.97 |
1.42 |
0.71 |
1.41 |
|
Liquidity ratio
/ acid ratio |
1.17 |
1.74 |
1.15 |
17.35 |
0.98 |
8.89 |
0.90 |
25.00 |
0.72 |
|
Current debt
ratio |
3.54 |
39.37 |
2.54 |
15.98 |
2.19 |
-26.76 |
2.99 |
-4.78 |
3.14 |
|
Liquidity ratio
reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cashflow |
188,684 |
21.18 |
155,706 |
-5.57 |
164,899 |
8.42 |
152,093 |
106 |
73,672 |
|
Net worth |
20,976,309 |
0.79 |
20,811,909 |
0.55 |
20,698,495 |
0.52 |
20,591,421 |
0.43 |
20,503,988 |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
138.35 |
7.63 |
128.54 |
33.63 |
96.19 |
-25.68 |
129.42 |
-4.56 |
135.60 |
|
Equity in
percentage |
20.51 |
-20.63 |
25.84 |
-9.24 |
28.47 |
21.20 |
23.49 |
3.75 |
22.64 |
|
Total debt ratio |
3.87 |
34.84 |
2.87 |
14.34 |
2.51 |
-23.01 |
3.26 |
-4.68 |
3.42 |
|
Working capital |
27,227,963 |
0.90 |
26,983,926 |
1.40 |
26,610,315 |
2.27 |
26,020,094 |
-0.17 |
26,064,955 |
|
Profit & loss |
|
|
|
|
|
|
|
|
|
|
Operating Income Turnover |
105,100,485 104,897,517 |
75.87 75.97 |
59,759,639 59,611,968 |
-4.89 -4.96 |
62,832,591 62,726,119 |
21.31 21.31 |
51,793,623 51,707,791 |
-23.93 -23.94 |
68,090,098 67,983,176 |
|
Total operating
expenses |
103,018,220 |
75.41 |
58,728,865 |
-2.73 |
60,379,357 |
20.40 |
50,147,020 |
-21.44 |
63,834,347 |
|
Gross Operating
Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating
Charges |
103,221,187 |
75.32 |
58,876,537 |
-2.66 |
60,485,830 |
20.41 |
50,232,852 |
-21.44 |
63,941,270 |
|
Employee costs |
442,218 |
19.55 |
369,906 |
-41.62 |
633,630 |
15.63 |
547,961 |
3.78 |
527,979 |
|
Wages and salary |
335,880 |
17.74 |
285,278 |
-48.71 |
556,172 |
17.85 |
471,913 |
3.45 |
456,173 |
|
Employee pension
costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social security
contributions |
80,313 |
14.87 |
69,913 |
9.95 |
63,585 |
-1.17 |
64,338 |
3.80 |
61,983 |
|
Other employee
costs |
26,026 |
76.86 |
14,715 |
6.08 |
13,872 |
18.47 |
11,710 |
19.21 |
9,823 |
|
Director remuneration
Amortization and depreciation |
706,361 24,284 |
19.12 -42.58 |
592,972 42,292 |
11.70 -27.71 |
530,859 58,502 |
19.92 -12.05 |
442,677 66,520 |
7.09 5.74 |
413,374 62,910 |
|
Operating result |
1,879,297 |
112 |
883,103 |
-62.37 |
2,346,762 |
50.36 |
1,560,771 |
-62.38 |
4,148,829 |
|
Total financial
income |
444,120 |
-4.53 |
465,181 |
453 |
83,980 |
108 |
40,364 |
-87.98 |
335,882 |
|
Total financial
expenses |
1,827,959 |
61.33 |
1,133,063 |
-48.99 |
2,221,409 |
56.11 |
1,422,946 |
-67.43 |
4,369,371 |
|
Results on ordinary operations before taxation |
495,459 |
130 |
215,221 |
2.81 |
209,332 |
17.48 |
178,188 |
54.49 |
115,340 |
|
Extraordinary
Income |
- |
- |
- |
- |
- |
- |
- |
- |
1,074 |
|
Extraordinary
Charges |
192,604 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary
items |
-192,604 |
- |
0 |
- |
0 |
- |
0 |
-100 |
1,074 |
|
Results for the Year
Before Taxation |
302,855 |
40.72 |
215,221 |
2.81 |
209,332 |
17.48 |
178,188 |
53.06 |
116,414 |
|
Other
appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
138,455 |
36.00 |
101,807 |
-1.10 |
102,936 |
11.14 |
92,615 |
-12.34 |
105,653 |
|
Results
on ordinary operations after taxation |
357,004 |
214 |
113,414 |
6.60 |
106,396 |
24.33 |
85,573 |
783 |
9,687 |
|
Net result |
164,400 |
44.96 |
113 ,414 |
6.60 |
106, 396 |
24.33 |
85,573 |
695 |
10,762 |
|
Profit
(Loss) for the Year to be appropiated |
164,400 |
44.96 |
113,414 |
6.60 |
106,396 |
24.33 |
85,573 |
695 |
10,762 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social
Balance Sheet |
Total |
|
|
|
During the reporting year ended 31-03-2013 |
|||
|
Full-time
Employees |
6 |
|
|
|
Part-time
Employees |
3 |
|
|
|
Total Fte
Employees |
8 |
|
|
|
|
|||
|
Number of
hours worked |
|||
|
Full-time
Employees |
13,748 |
|
|
|
Part-time
Employees |
3,368 |
|
|
|
Total |
17,116 |
|
|
|
|
|||
|
Personnel
Charges |
|||
|
Full-time
Employees |
355,201 |
|
|
|
Part-time
Employees |
87,017 |
|
|
|
Total |
442,218 |
|
|
|
Benefits In
Addition To Wages - |
|||
|
|
|||
|
During the
previous reporting year |
|||
|
Average
number employees in Fte |
9 |
|
|
|
Actual
working hours |
14,187 |
|
|
|
Personnel
Charges |
369,906 |
|
|
|
Benefits In
Addition To Wages - |
|||
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration Contracts |
6 |
3 |
8 |
|
Limited Duration Contracts |
- |
- |
- |
|
Contracts For Specific Work |
- |
- |
- |
|
Contracts Regarding
Substitution |
- |
- |
- |
|
|
|
|
|
|
Gender and Education Level |
|
||
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondairy education |
2 |
1 |
3 |
|
Higher education (non
university) |
- |
- |
- |
|
Higher education (university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondairy education |
4 |
2 |
5 |
|
Higher education (non
university) |
- |
- |
- |
|
Higher education (university) |
- |
- |
- |
|
|
|||
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White collar worker |
6 |
2 |
7 |
|
Blue collar worker |
3 |
1 |
0 |
|
Other |
- |
- |
- |
|
New staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
|
New Starters |
- |
- |
- |
|
Leavers |
1 |
- |
1 |
|
Activity
code |
46761 |
|
Activity
description |
Wholesale of Diamonds and Other Precious Stone |
|
industry
average credit rating |
64.48 |
|
Industry
average credit limit |
140177.31 |
Payment Information Summary
Total number of Invoices available 3
Total number of Invoices paid within or up to 30 days after the due
date 1
Total number of Invoices paid more than 30 days after the due date 0
Total number of Invoices currently outstanding where the due date has
not yet been reached 2
Total number of Invoices currently outstanding beyond the due date 0
|
Suspension
of payments / moratorium history |
||
|
Amount |
- |
|
|
Details |
- |
|
|
Payment
expectations |
||
|
Payment
expectation days |
183.89 |
|
|
Day sales
outstanding |
286.59 |
|
|
Industry
comparison |
|
|
|
Activity
code |
46761 |
|
|
Activity
description |
Wholesale of Diamonds and Other Precious Stone` |
|
|
Industry
average payment expectation days |
124.07 |
|
|
Industry
average day sales outstanding |
140.43 |
|
|
Payment expectations |
|
|
Company result |
183.89 |
|
Lower |
121.21 |
|
Median |
74.61 |
|
Upper |
45.81 |
|
Day sales outstanding |
|
|
Company result |
286.59 |
|
Lower |
101.92 |
|
Median |
54.07 |
|
Upper |
24.07 |
|
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
|
Business Company name number |
% |
Date of accounts |
|
429761171 M.I.C. NV |
20.12 |
31/12/2013 |
|
Summary |
|
|
Group - Number of Companies |
0 |
|
Linkages - Number of Companies |
0 |
|
Number of Countries |
0 |
Legal event type Social Security
Summons
Event date 16/12/2014
Court type --
Court name Antwerpen
Creditor's name Rijksdienst voor
Sociale Zekerheid
3rd party type Summoning Party
Legal event type Social Security
Summons
Event date 06/09/2011
Court type --
Court name Antwerpen
Creditor's name Rijksdienst voor
Sociale Zekerheid
3rd party type Summoning Party
Legal event type Social Security
Summons
Event date 28/06/2011
Court type --
Court name Antwerpen
Creditor's name --
3rd party type --
Protested Bills
There is no data for this company
Bankruptcy and other legal events
There is no data for this company
Current director details
Name BHAVIN MEHTA
Position Managing Director
Start Date 05/09/2008
Date of birth 27/09/1971
Street 27 BERKENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Former director details
Name RASHMI METHA
Position Managing Director
Start Date 02/06/2008
End Date 02/09/2014
Street 27 BERKENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Name BHAVIN MEHTA
Position Director
Start Date 02/06/2008
End Date 31/03/2013
Date of birth 27/09/1971
Street 27 BERKENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Name CHETAN MEHTA
Position Managing Director
Start Date 02/06/2008
End Date 02/09/2014
Date of birth 06/02/1965
Street 33 BERKENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Position Director
Start Date 02/06/2008
End Date 02/06/2014
Date of birth 06/02/1965
Street 33 BERKENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Name RASHMI KIRTILAL
MEHTA
Position Managing Director
Start Date 02/06/2008
End Date 12/06/2014
Date of birth 04/09/1943
Street 27 BERKENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Position Director
Start Date 02/06/2008
End Date 31/12/2011
Date of birth 04/09/1943
Street 27 BERKENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Name PRABODH KIRTILAL
MEHTA
Position Managing Director
Start Date 07/12/2007
End Date 31/12/2009
Date of birth 20/08/1936
Street 33 BERKENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Position Director
Start Date 11/03/1997
End Date 14/09/2007
Date of birth 20/08/1936
Street 33 BERKENLAAN
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.62.05 |
|
|
1 |
Rs.96.03 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.