MIRA INFORM REPORT

 

 

Report No. :

330232

Report Date :

06.07.2015

 

IDENTIFICATION DETAILS

 

Name :            

DHAVAL GEMS BVBA

 

 

Registered Office :

Hoveniersstraat 2-Bus 110, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

10.01.1991

 

 

Com. Reg. No.:

441514801

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of diamonds and other precious stones

 

 

No. of Employees :

0

 

 

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 – 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 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 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

441514801

Company  name

DHAVAL  GEMS  BVBA

Address

HOVENIERSSTRAAT  2-BUS  110

 

2018 ANTWERPEN

Number  of  staff

0

Date  of  establishment

10/01/1991

Telephone  number

032315911

Fax  number

032315911

 

 

Commentary

 

The business was established over 24 years ago.

No employees are recorded for this business.

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

The credit rating for this business has increased from 68 to 69.

The credit limit for this business has increased from €59000 to €60000.

Operating Result in the latest trading period increased 62% on the previous trading period.

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

Pre-tax profits increased by 60% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 76% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

12,817

162,526

134,126

31/12/2012

 

7,980

152,232

122,591

31/12/2011

 

5,923

144,253

113,940

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

1,301,152

0

18,600

11,535

31/12/2012

1,946,582

0

18,600

9,145

31/12/2011

1,377,243

0

18,600

7,010

 

Trends

Profitability

Liquidity

Net worth

 

Payment expectations

 

Past Payment

 

Payment  expectation  days

-

Industry  average  payment

103.11

Industry  average  day  sales

181.54

expectation  days

 

outstanding

 

Day  sales  outstanding

-

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                      no

 

PROTESTED BILLS

Bill amount                              -

 

NSSO DETAILS

Date of summons                     -

 

 

Company information

 

Business  number

441514801

Company  name

DHAVAL  GEMS  BVBA

Fax  number

032315911

Date  founded

10/01/1991

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

VAT  Number

BE.0441.514.801  Check  VAT

 

other  precious  stones

 

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)

 

 

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

28,400

-4.19

29,641

-2.21

30,312

40.60

21,560

-29.22

30,461

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

7,263

-14.59

8,503

-7.32

9,175

2074

422

-95.48

9,324

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

6,965

-13.39

8,041

-12.35

9,175

2589

341

-56.00

775

Furniture  &  Vehicles

297

-35.60

462

4619400

0

-99

81

-99

8,548

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

21,138

0

21,138

0

21,138

0

21,138

0

21,138

Total  current  assets

1,272,752

-33.61

1,916,941

42.32

1,346,931

6.00

1,270,717

26.19

1,006,952

Inventories

380,662

-55.92

863,558

189

298,557

77.36

168,335

-70.40

568,670

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

380,662

-55.92

863,558

189

298,557

77.36

168,335

-70.40

568,670

Trade  debtors

815,223

9.91

741,699

-20.55

933,497

-9.26

1,028,787

313

248,889

Other  amounts  receivable

2,686

-33.20

4,022

97.97

2,031

-32.27

2,999

557

456

Cash

73,362

-76.09

306,812

173

112,218

60.19

70,051

-62.82

188,388

Miscellaneous  current  assets

819

-3.58

849

35.15

628

15.31

545

-0.56

548

Total  Assets

1,301,152

-33.16

1,946,582

41.34

1,377,243

6.57

1,292,277

24.57

1,037,413

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

162,526

6.76

152,232

5.53

144,253

4.28

138,329

-16.23

165,137

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

 

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

 

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

143,926

7.70

133,632

6.35

125,653

4.95

119,729

-18.29

146,537

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

1,138,626

-36.54

1,794,349

45.53

1,232,990

6.85

1,153,947

32.29

872,276

Other  long  term  loans

-

-

-

-

-

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

-

-

-

-

-

-

-

-

-

Trade  creditors

358,802

-65.29

1,033,725

124

461,011

12.65

409,257

126

180,584

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

10,142

80.79

5,610

44.25

3,889

80.09

2,159

59.78

1,351

 

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

769,682

1.94

755,014

-1.70

768,091

3.44

742,531

7.56

690,341

Total  current  liabilities

1,138,626

-36.54

1,794,349

45.53

1,232,990

6.85

1,153,947

32.29

872,276

Total  Liabilities

1,301,152

-33.16

1,946,582

41.34

1,377,243

6.57

1,292,277

24.57

1,037,413

 

 

ratio  analysis

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

7.89

50.57

5.24

27.49

4.11

21.17

-19.41

-3562

-0.53

Return  on  total  assets  employed

0.99

141

0.41

-4.65

0.43

20.67

-2.08

-2211

-0.09

Return  on  net  assets  employed

7.89

50.57

5.24

27.49

4.11

21.17

-19.41

-3562

-0.53

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

 

SHORT  TERM  STABILITY

 

Current  ratio

1.12

4.67

1.07

-1.83

1.09

-0.91

1.10

-4.35

1.15

Liquidity  ratio  /  acid  ratio

0.78

32.20

0.59

-30.59

0.85

-11.46

0.96

92.00

0.50

Current  debt  ratio

7.01

-40.54

11.79

37.89

8.55

2.52

8.34

57.95

5.28

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

11,535

26.14

9,145

30.45

7,010

39.15

-17,906

-338

7,512

Net  worth

162,526

6.76

152,232

5.53

144,253

4.28

138,329

-16.23

165,137

 

LONG  TERM  STABILITY

 

Equity  in  percentage

12.49

59.72

7.82

-25.31

10.47

-2.15

10.70

-32.79

15.92

Total  debt  ratio

7.01

-40.54

11.79

37.89

8.55

2.52

8.34

57.95

5.28

Working  capital

134,126

9.41

122,591

7.59

113,940

-2.42

116,770

-13.30

134,676

 

 

Profit  &  loss

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

18,320

55.48

11,783

30.28

9,044

-29.38

12,807

13.55

11,279

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

1,241

6.54

1,165

7.13

1,087

-87.79

8,902

-14.11

10,364

Operating  result

14,370

62.66

8,834

35.90

6,501

24.61

-26,413

-6652

-391

 

 

 

 

 

 

 

 

 

 

Total  financial  income

2

-18.85

2

12100

0

-91.30

0

-37.84

0

Total  financial  expenses

1,555

81.40

857

48.40

577

31.53

439

-10.87

493

Results  on  ordinary  operations  before  taxation

12,817

60.62

7,980

34.72

5,923

22.06

-26,852

-2939

-883

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

0

-

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

12,817

60.62

7,980

34.72

5,923

22.06

-26,852

-2939

-883

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

2,524

-

-

-

-

-

-44

-102

1,969

Results  on  ordinary  operations  after  taxation

10,294

29.00

7,980

34.72

5,923

22.10

-26,808

-839

-2,853

Net  result

10,294

29.00

7,980

34.72

5,923

22.10

-26,808

-839

-2,853

Profit  (Loss)  for  the  Year  to  be  appropiated

10,294

29.00

7,980

34.72

5,923

22.10

-26,808

-839

-2,853

Dividends

-

-

-

-

-

-

-

-

-

 

 

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                                                        -

Day sales outstanding                                                  -

 

Industry comparison

Activity code                                                                            46761

Activity description                                                                  Wholesale of diamonds and other precious stones

Industry average payment expectation days                             103.11

Industry average day sales outstanding                                   181.54

 

 

Industry quartile analysis

 

Payment expectations

Company result                                                -

Lower                                                               117.11

Median                                                             74.61

Upper                                                               45.68

 

 

Day sales outstanding

 

Company result                                                -

Lower                                                               101.25

Median                                                             53.69

Upper                                                               24.60

 

 

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

MANISH  GANDHI

Position

Principal  Manager

Start  Date

05/09/2010

Street

57 CHARLOTTALEI  ANTWERPEN

Post  code

2018

Country

Belgium

Former  director  details

 

Name

EDUARD  ELZAS

Position

Principal  Manager

Start  Date

23/08/1997

End  Date

Unknown  date

Street

30 RUBENSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Position

Director

Start  Date

02/06/1997

End  Date

Unknown  date

Street

30 RUBENSLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

KUNIYOSHI  KAWSHIMA

 

 

 

Position

Director

Start  Date

21/08/1997

End  Date

Unknown  date

Street

 

Post  code

 

Country

Japan

 

 

Name

TATSUYA  KIYOSE

Position

Director

Start  Date

21/08/1997

End  Date

Unknown  date

Street

 

Post  code

 

Country

Japan

 

 

Name

PERCY  MIRIKITANI

Position

Director

Start  Date

21/08/1997

End  Date

Unknown  date

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.39

UK Pound

1

Rs. 98.94

Euro

1

Rs. 70.33

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

Report Prepared by :

DPT

 

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.