MIRA INFORM REPORT

 

 

Report No. :

330221

Report Date :

07.07.2015

 

IDENTIFICATION DETAILS

 

Name :

NISHANT GEMS BVBA

 

 

Registered Office :

Hoveniersstraat 30-Bus 43, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

30.03.2005

 

 

Com. Reg. No.:

873165789

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale of diamonds and other precious stones.

 

 

No. of Employees :

Not Available

 

 

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

 

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 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                     873165789

Branche Unit Number               2146528638

Company name                        NISHANT GEMS BVBA

Address                                   HOVENIERSSTRAAT 30-BUS 43, 2018 ANTWERPEN

Number of staff                        0

Date of establishment               30/03/2005

Telephone number                   032561641

 

 

Commentary

 

The business was established over 10 years ago.

No employees are recorded for this business.

The business has been at the address for over 3 years.

Operating Result in the latest trading period increased 68% on the previous trading period.

Net Worth increased by 41% during the latest trading period.

A 53% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 73% compared to the previous trading period.

The business saw an increase in their Cash Balance of 199% during the latest trading period.

 

ACCOUNTS

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

57,029

128,945

169,995

31/12/2012

 

32,914

91,034

43,767

31/12/2011

 

31,260

67,854

58,195

 

 

 

 

 

ACCOUNTS

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

2,436,121

0

18,600

52,096

31/12/2012

1,585,013

0

18,600

27,442

31/12/2011

1,867,217

0

18,600

28,390

 

 

Payment expectations

 

Past payments

 

Payment expectation days

--

 

Industry average payment expectation days

103.11

Industry average day sales outstanding

181.54

 

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

873165789

Company  name

NISHANT  GEMS  BVBA

Fax  number

 

Date  founded

30/03/2005

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.0873.165.789  Check  VAT number

Belgian  Bullettin  of  Acts

moniteur  belge

 

 

 

 

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

49,588

-22.24

63,773

560

9,659

-15.92

11,488

-26.14

15,554

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

49,588

-22.24

63,773

560

9,659

-15.92

11,488

-26.14

15,554

Land  &  building

-

-

-

-

-

-

-

-

-

Plant  &  machinery

2,913

-39.08

4,781

-5.38

5,053

128

2,214

88.48

1,175

Furniture  &  Vehicles

46,676

-20.88

58,992

1180

4,607

-50.32

9,274

-35.51

14,379

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

0

-1

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

-

-

-

-

Total  current  assets

2,386,533

56.88

1,521,240

-18.11

1,857,558

39.05

1,335,907

230

404,742

Inventories

273,031

-37.31

435,558

74.19

250,042

-31.54

365,241

2.46

356,471

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

273,031

-37.31

435,558

74.19

250,042

-31.54

365,241

2.46

356,471

Trade  debtors

1,959,434

96.64

996,476

-35.19

1,537,526

72.10

893,373

5582

15,721

Other  amounts  receivable

892

-97.53

36,079

33.43

27,039

99

13,543

1145

1,087

Cash

152,029

199

50,735

25.13

40,546

-34.12

61,543

102

30,418

Miscellaneous  current  assets

1,147

-52.07

2,393

-0.50

2,405

9.01

2,206

111

1,044

Total  Assets

2,436,121

53.70

1,585,013

-15.11

1,867,217

38.58

1,347,395

220

420,296

LIABILITIES

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

128,945

41.65

91,034

34.16

67,854

47.18

46,104

37.63

33,498

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

110,345

52.34

72,434

47.06

49,254

79.08

27,504

84.62

14,898

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

2,307,176

54.43

1,493,979

-16.97

1,799,363

38.28

1,301,290

236

386,798

Other  long  term  loans

-

-

16,506

-

-

-

-

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

90,639

-

0

-

0

-

0

-

0

Total  long  term  debts

90,639

449

16,506

-

0

-

0

-

0

Current  portion  of  long  term  debt

16,506

-3.51

17,107

-

-

-

-

-

-

Financial  debts

-

-

584

-93.14

8,506

43.44

5,930

478

1,024

Trade  creditors

1,905,944

78.29

1,069,004

-21.92

1,369,080

54.42

886,574

9395

9,336

Amounts  Payable  for  Taxes,  Remuneration &  Social  Security

21,967

88.53

11,652

16.12

10,034

-3.38

10,385

50.33

6,908

Miscellaneous  current  liabilities

272,120

-28.22

379,127

-7.92

411,743

3.35

398,401

7.81

369,529

Total  current  liabilities

2,216,537

50.02

1,477,473

-17.89

1,799,363

38.28

1,301,290

236

386,798

Total  Liabilities

2,436,121

53.70

1,585,013

-15.11

1,867,217

38.58

1,347,395

220

420,296

 

 

RATIO  ANALYSIS

 

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

25.97

-15.16

30.61

-33.56

46.07

23.45

37.32

-18.39

45.73

Return  on  total  assets  employed

2.34

12.50

2.08

24.55

1.67

30.47

1.28

-64.84

3.64

Return  on  net  assets  employed

44.23

22.32

36.16

-21.51

46.07

23.45

37.32

-18.39

45.73

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.08

4.85

1.03

0

1.03

0

1.03

-1.90

1.05

Liquidity  ratio  /  acid  ratio

0.95

30.14

0.73

-17.98

0.89

18.67

0.75

525

0.12

Current  debt  ratio

17.19

5.91

16.23

-38.80

26.52

-6.06

28.23

144

11.55

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

52,096

89.84

27,442

-3.34

28,390

50.03

18,923

16.70

16,214

Net  worth

128,945

41.65

91,034

34.16

67,854

47.18

46,104

37.63

33,498

LONG TERM STABILITY

 

 

 

 

 

 

 

 

 

Gearing

12.80

-65.93

37.57

199

12.54

-2.49

12.86

320

3.06

Equity  in  percentage

5.29

-7.84

5.74

58.13

3.63

6.14

3.42

-57.09

7.97

Total  debt  ratio

17.89

9.02

16.41

-38.12

26.52

-6.06

28.23

144

11.55

Working  capital

169,995

288

43,767

-24.79

58,195

68.11

34,616

92.92

17,944

 

 

PROFIT  &  LOSS

 

 

 

 

 

 

 

 

 

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

86,225

78.46

48,316

7.16

45,089

63.13

27,639

1.01

27,363

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

60

205

20

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

60

205

20

-

0

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

14,184

232

4,263

-35.80

6,640

5.13

6,316

14.98

5,493

Operating  result

69,339

68.08

41,252

11.72

36,926

83.24

20,151

-1.43

20,444

Total  financial  income

49

-32.64

73

942

7

17400

0

-

-

Total  financial  expenses

12,360

46.93

8,412

48.28

5,673

92.65

2,945

-42.53

5,124

Results  on  ordinary  operations  before  taxation

57,029

73.27

32,914

5.29

31,260

81.68

17,206

12.32

15,320

Extraordinary  Income

246

-71.40

861

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

246

-71.40

861

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

57,275

69.58

33,774

8.04

31,260

81.68

17,206

12.32

15,320

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

19,363

82.76

10,595

11.41

9,510

106

4,600

0.04

4,598

Results  on  ordinary  operations  after  taxation

37,665

68.76

22,319

2.62

21,750

72.53

12,606

17.58

10,721

Net  result

37,911

63.56

23,180

6.57

21,750

72.53

12,606

17.58

10,721

Profit  (Loss)  for  the  Year  to  be  appropiated

37,911

63.56

23,180

6.57

21,750

72.53

12,606

17.58

10,721

Dividends

-

-

-

-

-

-

-

-

-

 

 

Industry comparison

 

Activity code

46761

Activity description

Whole of diamonds and other precious stones

 

 

Payment expectations

 

 

Industry comparison

 

Activity code

46761

Activity description

Whole 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

 

Group Structure

No group structure for this company.

 

Minority Shareholders

No minority shareholders found

 

Minority Interests

No minority interest found

 

Protested Bills

There is no data for this company

 

Summons

There is no data for this company

 

Bankruptcy and other legal events

There is no data for this company

 

Companies that match this address

No companies match this address

 

 

Director details

 

CURRENT DIRECTOR DETAILS

 

Name

NIKUNJ  NIRANJAN  SHAH

Position

Principal  Manager

Start  Date

03/08/2010

Street

10 THEO  MERTENSPLEIN  EDEGEM

Post  code

2650

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.63.57

UK Pound

1

Rs.99.11

Euro

1

Rs.70.29

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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%)

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.