|
Report No. : |
325785 |
|
Report Date : |
12.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
EXELCO NV |
|
|
|
|
Registered Office : |
Pelikaanstraat 62, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
08.03.1995 |
|
|
|
|
Com. Reg. No.: |
140177.31 |
|
|
|
|
Legal Form : |
Public Limited Liability |
|
|
|
|
Line of Business : |
Subject is engaged in wholesale of
diamonds and other precious stones |
|
|
|
|
No. of Employee : |
11 |
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 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 |
EXELCO
NV
|
Business number |
454661071 |
|
Branche Unit
Number |
2070837360 |
|
Company name |
EXELCO NV |
|
Address |
PELIKAANSTRAAT 62 |
|
|
2018 ANTWERPEN |
|
Number of staff |
11 |
|
Date of
establishment |
08/03/1995 |
|
Telephone number |
032332452 |
|
Fax number |
032338841 |
|
Company name |
Company Number |
|
Exelco NV |
454661071 |
The business was established
over 20 years ago. The business has
10 employees.
The business is part of
a group.
This business has a foreign
parent business. The business has been at
the address for over 11 years. The
business has changed address 2 times
in the last year. Operating Result in
the latest trading period increased 95%
on the previous trading period. Net Worth
increased by 36% during the latest
trading period.
A 117% growth in Total
Assets occurred during the latest trading
period. Turnover in the latest trading
period increased 78% on the previous
trading period.
|
DATE OF
LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE
TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2013 |
195,035,025 |
273,737 |
5,125,572 |
20,726,064 |
|
31/12/2012 |
109,042,461 |
-22,740 |
3,753,962 |
10,643,611 |
|
31/12/2011 |
94,531,890 |
39,079 |
3,821,244 |
11,819,555 |
|
Accounts |
|
|
|
|
|
DATE OF
LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
83,305,436 |
11 |
4,411,874 |
224,885 |
|
31/12/2012 |
38,231,909 |
10 |
3,343,759 |
42,143 |
|
31/12/2011 |
50,370,991 |
9 |
3,409,937 |
46,164 |
|
Past payments |
|
Payment expectation
days |
64.25 |
|
Industry average
payment |
126.61 |
Industry average
day sales |
184.47 |
|
expectation days |
|
outstanding |
|
|
Day sales
outstanding |
84.71 |
|
|
BANKRUPTCY DETAILS
|
Court action type |
no |
PROTESTED BILLS
|
Bill amount |
- |
|
NSSO DETAILS |
|
|
Date of summons |
- |
|
|
|
|
Business number |
454661071 |
Company name |
EXELCO NV |
|
Fax number |
032338841 |
Date founded |
08/03/1995 |
|
Company status |
active |
Company type |
Public Limited Liability |
|
|
|
|
Company (BE) |
|
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.0454.661.071 Check VAT |
|
|
other precious stones |
number |
|
|
Belgian Bullettin
of Acts Publications |
moniteur belge |
|
|
|
Registered contractor |
- |
|
number |
|
|
Contractor description |
- |
|
Date struck
off register |
|
|
Personnel (NSSO
classification) |
|
|
Code |
- |
|
Description |
- |
|
Joint Industrial
Committee (JIC) |
|
|
JIC Code |
218 |
|
Description |
Additional national joint
committee for the employees |
|
category |
|
|
JIC Code |
324.02 |
|
Description |
JSC small merchandisers in
the diamant industry and trade |
|
category |
|
|
Significant Events |
|
|
Event Date |
26/06/2006 |
|
Event Description |
re-appointment of director(s) |
|
Event Details |
Commentaar 26-06-2006: De
bestuurdersmandaten van Kunstler Lior, van
Tolkowsky Jean-Paul en |
|
|
van Weitman Emmanuel worden
verlengd voor een periode van zes jaar. |
|
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 |
2,383,095 |
126 |
1,051,880 |
784 |
118,877 |
-19.75 |
148,134 |
-6.35 |
158,183 |
|
Intangible
fixed assets |
4,055 |
-33.58 |
6,105 |
-36.89 |
9,673 |
-25.14 |
12,921 |
551 |
1,985 |
|
Tangible
fixed assets |
112,800 |
31.46 |
85,804 |
-11.31 |
96,741 |
-21.52 |
123,268 |
-14.78 |
144,654 |
|
Land
& building |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Plant
& machinery |
83,448 |
50.29 |
55,525 |
-3.83 |
57,736 |
28.64 |
44,881 |
-0.98 |
45,323 |
|
Furniture
& Vehicles |
29,352 |
-3.06 |
30,280 |
-22.37 |
39,005 |
-50.24 |
78,387 |
-21.09 |
99,332 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other
tangible assets |
0 |
0 |
-1 |
- |
0 |
- |
0 |
- |
0 |
|
Financial
fixed assets |
2,266,240 |
136 |
959,971 |
7602 |
12,463 |
4.35 |
11,944 |
3.46 |
11,544 |
|
Total
current assets |
80,922,341 |
117 |
37,180,029 |
-26.01 |
50,252,114 |
9.52 |
45,884,635 |
13.92 |
40,276,709 |
|
Inventories |
33,138,042 |
97.56 |
16,773,442 |
-14.54 |
19,628,034 |
13.77 |
17,252,436 |
29.13 |
13,360,934 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work
in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished
goods |
33,138,042 |
97.56 |
16,773,442 |
-14.54 |
19,628,034 |
13.77 |
17,252,436 |
29.13 |
13,360,934 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade
debtors |
45,265,498 |
150 |
18,062,211 |
-36.97 |
28,658,539 |
5.70 |
27,113,762 |
6.01 |
25,576,835 |
|
Other
amounts receivable |
1,344,097 |
42.40 |
943,864 |
7.47 |
878,251 |
1.99 |
861,125 |
17.71 |
731,556 |
|
Cash |
1,094,174 |
-10.64 |
1,224,484 |
1322 |
86,086 |
33.38 |
64,541 |
175 |
23,427 |
|
Miscellaneous
current assets |
80,560 |
-54.23 |
176,029 |
401 |
35,079 |
11.46 |
31,471 |
-50.31 |
63,341 |
|
Total
Assets |
83,305,436 |
117 |
38,231,909 |
-24.10 |
50,370,991 |
9.42 |
46,032,769 |
13.84 |
40,434,892 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total
shareholders equity |
5,129,627 |
36.42 |
3,760,067 |
-1.85 |
3,830,917 |
3.43 |
3,703,960 |
8.45 |
3,415,512 |
|
Issued
share capital |
4,411,874 |
31.94 |
3,343,759 |
-1.94 |
3,409,937 |
3.27 |
3,301,847 |
7.81 |
3,062,525 |
|
Share
premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Reserves |
717,753 |
72.41 |
416,308 |
-1.11 |
420,980 |
4.69 |
402,113 |
13.92 |
352,987 |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered
taxes |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Creditors |
78,175,809 |
126 |
34,471,842 |
-25.93 |
46,540,074 |
9.95 |
42,328,809 |
14.34 |
37,019,380 |
|
Other
long term loans |
17,765,771 |
128 |
7,780,428 |
-4.03 |
8,107,515 |
6.83 |
7,589,240 |
61.80 |
4,690,570 |
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other
long term liabilities |
213,761 |
37.91 |
154,996 |
- |
0 |
- |
0 |
- |
0 |
|
Total
long term debts |
17,979,532 |
126 |
7,935,424 |
-2.12 |
8,107,515 |
6.83 |
7,589,240 |
61.80 |
4,690,570 |
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
25,621,081 |
85.14 |
13,838,802 |
12.90 |
12,257,684 |
12.71 |
10,875,320 |
24.77 |
8,716,138 |
|
Trade
creditors |
34,125,793 |
174 |
12,415,496 |
-52.19 |
25,967,213 |
9.30 |
23,757,175 |
0.95 |
23,533,463 |
|
Amounts
Payable for Taxes, |
111,076 |
30.59 |
85,058 |
46.07 |
58,232 |
15.84 |
50,271 |
1.27 |
49,641 |
|
Remuneration
& Social Security |
|
|
|
|
|
|
|
|
|
|
Miscellaneous
current liabilities |
338,327 |
71.69 |
197,062 |
31.88 |
149,430 |
163 |
56,803 |
92.11 |
29,568 |
|
Total
current liabilities |
60,196,277 |
126 |
26,536,418 |
-30.95 |
38,432,559 |
10.63 |
34,739,569 |
7.46 |
32,328,811 |
|
Total
Liabilities |
83,305,436 |
117 |
38,231,909 |
-24.10 |
50,370,991 |
9.42 |
46,032,769 |
13.84 |
40,434,892 |
|
ratio analysis |
|
|
|
|
|
|
|
|
|
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.14 |
700 |
-0.02 |
-150 |
0.04 |
-50.0 |
0.08 |
-46.67 |
0.15 |
|
Return
on capital employed |
1.18 |
621 |
-0.19 |
-157 |
0.33 |
-35.29 |
0.51 |
-61.65 |
1.33 |
|
Return
on total assets employed |
0.33 |
550 |
-0.06 |
-175 |
0.08 |
-33.33 |
0.12 |
-55.56 |
0.27 |
|
Return
on net assets employed |
5.34 |
890 |
-0.60 |
-158 |
1.02 |
-33.77 |
1.54 |
-51.27 |
3.16 |
|
Sales
/ net working capital |
9.41 |
-8.11 |
10.24 |
28.00 |
8.00 |
22.51 |
6.53 |
-26.13 |
8.84 |
|
Stock
turnover ratio |
16.99 |
10.47 |
15.38 |
-25.92 |
20.76 |
-12.48 |
23.72 |
24.78 |
19.01 |
|
Creditor
days |
64.25 |
53.74 |
41.79 |
-58.58 |
100.89 |
-16.06 |
120.19 |
-2.60 |
123.40 |
|
Debtor
days |
84.71 |
40.11 |
60.46 |
-45.36 |
110.65 |
-18.69 |
136.08 |
2.45 |
132.83 |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current
ratio |
1.34 |
-4.29 |
1.40 |
6.87 |
1.31 |
-0.76 |
1.32 |
5.60 |
1.25 |
|
Liquidity
ratio / acid ratio |
0.79 |
2.60 |
0.77 |
-3.75 |
0.80 |
-2.44 |
0.82 |
-1.20 |
0.83 |
|
Current
debt ratio |
11.74 |
66.29 |
7.06 |
-29.61 |
10.03 |
6.93 |
9.38 |
-0.95 |
9.47 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cashflow |
224,885 |
433 |
42,143 |
-8.71 |
46,164 |
-35.01 |
71,028 |
-39.07 |
116,572 |
|
Net
worth |
5,125,572 |
36.54 |
3,753,962 |
-1.76 |
3,821,244 |
3.53 |
3,691,039 |
8.13 |
3,413,528 |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
845.81 |
47.11 |
574.97 |
8.16 |
531.60 |
6.64 |
498.51 |
27.00 |
392.52 |
|
Equity
in percentage |
6.16 |
-37.40 |
9.84 |
29.30 |
7.61 |
-5.47 |
8.05 |
-4.73 |
8.45 |
|
Total
debt ratio |
15.24 |
66.19 |
9.17 |
-24.53 |
12.15 |
6.30 |
11.43 |
5.44 |
10.84 |
|
Working
capital |
20,726,064 |
94.73 |
10,643,611 |
-9.95 |
11,819,555 |
6.05 |
11,145,066 |
40.23 |
7,947,899 |
|
Profit & loss |
|
|
|
|
|
|
|
|
|
|
Operating
Income |
197,121,644 |
79.69 |
109,698,980 |
15.39 |
95,064,720 |
30.66 |
72,757,048 |
3.50 |
70,299,306 |
|
Turnover |
195,035,025 |
78.86 |
109,042,461 |
15.35 |
94,531,890 |
29.98 |
72,725,797 |
3.48 |
70,281,719 |
|
Total
operating expenses |
193,852,387 |
78.77 |
108,437,010 |
15.43 |
93,945,085 |
30.22 |
72,144,256 |
3.64 |
69,608,749 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating
Charges |
195,939,006 |
79.61 |
109,093,529 |
15.47 |
94,477,915 |
30.90 |
72,175,507 |
3.66 |
69,626,336 |
|
Employee
costs |
526,731 |
51.17 |
348,426 |
8.57 |
320,936 |
24.41 |
257,962 |
4.66 |
246,478 |
|
Wages
and salary |
- |
- |
269,302 |
8.56 |
248,075 |
23.80 |
200,390 |
5.09 |
190,692 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social
security contributions |
- |
- |
58,479 |
10.11 |
53,112 |
24.78 |
42,566 |
5.11 |
40,496 |
|
Other
employee costs |
0 |
-100 |
20,646 |
4.55 |
19,748 |
31.61 |
15,005 |
-1.87 |
15,291 |
|
Director
remuneration |
- |
- |
67,737 |
-38.05 |
109,348 |
22.61 |
89,184 |
-16.63 |
106,980 |
|
Amortization
and depreciation |
56,423 |
46.00 |
38,645 |
-4.49 |
40,461 |
-18.24 |
49,486 |
-24.77 |
65,776 |
|
Operating
result |
1,182,638 |
95.33 |
605,451 |
3.18 |
586,805 |
0.91 |
581,541 |
-13.59 |
672,970 |
|
Total
financial income |
140,442 |
-10.70 |
157,264 |
28.85 |
122,049 |
-7.10 |
131,379 |
680 |
16,843 |
|
Total
financial expenses |
1,049,343 |
33.60 |
785,455 |
17.27 |
669,775 |
2.14 |
655,717 |
12.67 |
581,982 |
|
Results
on ordinary operations |
273,737 |
1203 |
-22,740 |
-158 |
39,079 |
-31.68 |
57,203 |
-46.95 |
107,832 |
|
before
taxation |
|
|
|
|
|
|
|
|
|
|
Extraordinary
Income |
5,314 |
-94.29 |
93,025 |
480 |
16,031 |
275 |
4,267 |
- |
- |
|
Extraordinary
Charges |
- |
- |
- |
- |
17,551 |
911 |
1,735 |
-83.21 |
10,333 |
|
Extraordinary
items |
5,314 |
-94.29 |
93,025 |
6120 |
-1,520 |
-160 |
2,532 |
24.50 |
-10,333 |
|
Results
for the Year Before Taxation |
279,051 |
297 |
70,285 |
87.13 |
37,560 |
-37.12 |
59,735 |
-38.73 |
97,499 |
|
Other
appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
110,589 |
65.58 |
66,787 |
109 |
31,857 |
-16.59 |
38,193 |
-18.22 |
46,703 |
|
Results
on ordinary operations |
163,148 |
182 |
-89,527 |
-1339 |
7,222 |
-62.01 |
19,010 |
-68.90 |
61,129 |
|
after
taxation |
|
|
|
|
|
|
|
|
|
|
Net
result |
168,462 |
4715 |
3,498 |
-38.66 |
5,703 |
-73.53 |
21,542 |
-57.59 |
50,796 |
|
Profit
(Loss) for the Year to be appropiated |
168,462 |
4715 |
3,498 |
-38.66 |
5,703 |
-73.53 |
21,542 |
-57.59 |
50,796 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Social Balance Sheet
Details
|
|
|
|
|
|||
|
Social
Balance Sheet Details |
|
|
|
|
|
|
|
|
Social
Balance Sheet |
|
Total |
|
|
|
|
|
|
During
the reporting year |
|
|
|
|
|
|
|
|
ended
31-12-2013 |
|
|
|
|
|
|
|
|
Full-time
Employees |
|
- |
|
|
|
|
|
|
Part-time
Employees |
|
- |
|
|
|
|
|
|
Total
Fte Employees |
|
- |
|
|
|
|
|
|
Number
of hours worked |
|
|
|
|
|
|
|
|
Full-time
Employees |
|
- |
|
|
|
|
|
|
Part-time
Employees |
|
- |
|
|
|
|
|
|
Total |
|
- |
|
|
|
|
|
|
Personnel
Charges |
|
|
|
|
|
|
|
|
Full-time
Employees |
|
- |
|
|
|
|
|
|
Part-time
Employees |
|
- |
|
|
|
|
|
|
Total |
|
- |
|
|
|
|
|
|
Benefits
In Addition To Wages |
|
- |
|
|
|
|
|
|
During
the previous reporting year |
|
|
|
|
|
|
|
|
Average
number employees in Fte |
|
- |
|
|
|
|
|
|
Actual
working hours |
|
- |
|
|
|
|
|
|
Personnel
Charges |
|
- |
|
|
|
|
|
|
Benefits
In Addition To Wages |
|
- |
|
|
|
|
|
|
Type
of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
|
|
|
|
Unlimited
Duration |
- |
- |
- |
|
|
|
|
|
Contracts |
|
|
|
|
|
|
|
|
Limited
Duration Contracts |
- |
- |
- |
|
|
|
|
|
Contracts
For Specific Work |
- |
- |
- |
|
|
|
|
|
Contracts
Regarding Substitution
|
- |
- |
- |
|
|
|
|
|
Gender
and Education Level |
|
|
|
|
|
|
|
|
Men |
|
|
|
|
|
|
|
|
Primary
education |
|
|
|
|
|
|
|
|
Secondary
education |
|
|
|
|
|
|
|
|
Higher
education (non university) |
|
|
|
|
|
|
|
|
Higher
education (university) |
|
|
|
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
|
|
|
|
Primary
education |
- |
- |
- |
|
|
|
|
|
Secondairy
education |
- |
- |
- |
|
|
|
|
|
Higher
education (non university) |
- |
- |
- |
|
|
|
|
|
Higher
education (university) |
- |
- |
- |
|
|
|
|
|
Working
Category |
Full-Time |
Part-Time |
Total
Fte |
|
|
|
|
|
Management |
- |
- |
- |
|
|
|
|
|
White
collar worker |
- |
- |
- |
|
|
|
|
|
Blue
collar worker |
- |
- |
- |
|
|
|
|
|
Other |
- |
- |
- |
|
|
|
|
|
Temporary
personnel |
|
Total |
|
|
|
|
|
|
Average
number of temporary staff |
|
- |
|
|
|
|
|
|
Actual
working hours |
|
- |
|
|
|
|
|
|
Cost
of temporary staff |
|
- |
|
|
|
|
|
|
New
staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
|
|
|
|
|
New
Starters |
- |
- |
- |
|
|
|
|
|
Leavers |
- |
- |
- |
|
|
|
|
|
Total of
formal continuing vocational training initiatives |
|
|
|
for workers
paid by the employer |
Male |
Female |
|
Number of
employees |
- |
- |
|
Number of
training hours |
- |
- |
|
Net costs
for enterprise |
- |
- |
|
Total of
less formal and informal continuing vocational |
|
|
|
training
initiatives for workers paid by the
employer |
Male |
Female |
|
Number of
employees |
- |
- |
|
Number of
training hours |
- |
- |
|
Net costs
for enterprise |
- |
- |
|
Total of
initial training initiatives at the
expense of the |
|
|
|
employer |
Male |
Female |
|
Number of
employees |
- |
- |
|
Number of
training hours |
- |
- |
|
Net costs
for enterprise |
- |
- |
|
Industry comparison |
|
|
|
Activity code |
46761 |
|
|
Activity description |
Wholesale of diamonds and
other precious stones |
|
|
industry average
credit rating |
64.48 |
|
|
Industry average
credit limit |
140177.31 |
|
Suspension of
payments / moratorium history
|
Amount |
- |
|
Details |
- |
|
|
|
|
Payment expectations |
|
|
Payment
expectation days |
64.25 |
|
Day sales
outstanding |
84.71 |
|
|
|
|
Industry comparison |
|
|
Activity code |
46761 |
|
Activity description |
Wholesale of diamonds and
other precious stones |
|
Industry average
payment |
126.61 |
|
expectation days |
|
|
Industry average
day sales |
184.47 |
|
outstanding |
|
|
Industry quartile
analysis |
|
|
Payment expectations |
|
|
Company result |
64.25 |
|
Lower |
118.32 |
|
Median |
74.61 |
|
Upper |
45.68 |
|
Day sales
outstanding |
|
|
Company result |
84.71 |
|
Lower |
102.33 |
|
Median |
54.07 |
|
Upper |
24.31 |
Summary
|
Group -
Number of Companies |
2 |
|
|
|
|
Linkages -
Number of Companies |
0 |
|
|
|
|
Number of
Countries |
0 |
|
|
|
Group
Structure
|
||
|
Company name |
Number |
Latest |
|
|
|
financials |
|
- EXELCO NV |
454661071 |
31-12-2013 |
|
- - EXELCO SOURCING BVBA |
893075337 |
31-12-2013 |
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Companies that
match this address
no Companies Match this address
Summary
|
Group -
Number of Companies |
2 |
|
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
Current director
details
|
Name |
EMMANUEL LANDAU |
|
Position |
Managing Director |
|
Start Date |
10/02/2015 |
|
Street |
6 CHARLOTTALEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Position |
Director |
|
Start Date |
01/03/2012 |
|
Street |
6 CHARLOTTALEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
Name |
LIOR KUNSTLER |
|
Position |
Director |
|
Start Date |
15/06/2010 |
|
Street |
|
|
Post code |
|
|
Country |
Israël |
|
|
|
|
Name |
EXELCO INTERNATIONAL LTD SOC.
ETRANGERE |
|
Position |
Director |
|
Start Date |
02/01/2009 |
|
Street |
|
|
Post code |
|
|
Country |
Mauritius |
|
Position |
Legal Representative |
|
Start Date |
02/02/2015 |
|
Street |
|
|
Post code |
|
|
Country |
Mauritius |
|
|
|
|
Former director
details |
|
|
Name |
JEAN-PAUL MEIJER TOLKOWSKY |
|
Position |
Managing Director |
|
Start Date |
16/12/2010 |
|
End Date |
01/03/2012 |
|
Street |
36 VAN PUTLEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
GARY GUTFREUND |
|
Position |
Director |
|
Start Date |
23/11/2007 |
|
End Date |
Unknown date |
|
Street |
8 HOF TER SCHRIECKLAAN ANTWERPEN |
|
Post code |
2600 |
|
Country |
Belgium |
|
|
|
|
Name |
LIOR KUNSTLER |
|
Position |
Managing Director |
|
Start Date |
15/06/2010 |
|
End Date |
10/02/2015 |
|
Street |
|
|
Post code |
|
|
Country |
Israël |
|
|
|
|
Name |
EXELCO INTERNATIONAL LTD |
|
Position |
Director |
|
Start Date |
01/01/2009 |
|
End Date |
Unknown date |
|
Street |
|
|
Post code |
|
|
Country |
|
|
Position |
Legal Representative |
|
Start Date |
11/10/2013 |
|
End Date |
Unknown date |
|
Street |
|
|
Post code |
|
|
Country |
|
|
|
|
|
Name |
SONA PILLAY |
|
Position |
Legal Representative |
|
Start Date |
22/07/2010 |
|
End Date |
11/10/2013 |
|
Street |
|
|
Post code |
|
|
Country |
|
|
|
|
|
Name |
FAZAL CHAUDRI |
|
Position |
Legal Representative |
|
Start Date |
22/07/2010 |
|
End Date |
11/10/2013 |
|
Street |
|
|
Post code |
|
|
Country |
|
|
Name |
HENDRIK BARHOORN |
|
Position |
Legal Representative |
|
Start Date |
22/07/2010 |
|
End Date |
Unknown date |
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.63.89 |
|
|
1 |
Rs.98.90 |
|
Euro |
1 |
Rs.72.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.