MIRA INFORM REPORT

 

 

Report No. :

329355

Report Date :

25.06.2015

 

IDENTIFICATION DETAILS

 

Name :

H.D. DIAM BVBA

 

 

Registered Office :

Hoveniersstraat 2-Bus 502, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

18.10.2007

 

 

Com. Reg. No.:

892903014

 

 

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 :

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 – 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                                 892903014

Branche Unit Number                           2165885878

Company name                                    H.D. DIAM BVBA

Address                                               HOVENIERSSTRAAT 2-BUS 502, 2018 ANTWERPEN

Number of staff                                    0

Date of establishment                           18/10/2007

Telephone number                               037705299

Fax number                                          032939625

 

 

Commentary

 

The business was established over 7 years ago.

No employees are recorded for this business.

The business has been at the address for over 4 years.

Operating Result in the latest trading period increased 79% on the previous trading period.

Net Worth increased by 25% during the latest trading period.

A 51% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 106% compared to the previous trading period.

The business saw a decrease in their Cash Balance of 65% during the latest trading period.

Turnover in the latest trading period increased 60% on the previous trading period.

 

ACCOUNTS

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

48,801,109

193,065

2,574,040

6,223,308

31/12/2012

30,419,665

93,462

2,053,965

3,613,480

31/12/2011

38,295,985

258,449

1,974,753

2,889,074

 

 

 

 

 

ACCOUNTS

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

22,901,589

0

1,899,727

174,797

31/12/2012

15,130,894

0

1,518,600

123,273

31/12/2011

12,033,349

0

1,518,600

237,149

 

 

Payment expectations

 

Past payments

 

Payment expectation days

85.29

 

Industry average payment expectation days

124.62

Industry average day sales outstanding

181.08

 

Day sales outstanding

95.62

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

 

Court action type

no

 

 

 

PROTESTED BILLS

Bill amount

NSSO DETAILS

Date of summons

--

 

 

 

 

 

Company information

 

Business  number

892903014

Company  name

H.D.  DIAM  BVBA

Fax  number

032939625

Date  founded

18/10/2007

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.0892.903.014  Check  VAT number

 

 

Joint industrial committee (JIC)

 

Event  Date

24/06/2014

Event  Description

 

Event  Details

Award of 60 new shares to the company under the laws of the United Arab Emirates Shan Gems DMCC.

 

 

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

756,202

18.88

636,091

0.42

633,405

53.41

412,875

4490

8,994

Intangible  fixed  assets

521

-24.16

687

-

0

-

0

-

0

Tangible  fixed  assets

755,406

18.94

635,129

0.32

633,130

54.40

410,065

6531

6,184

Land  &  building

648,196

32.26

490,088

-3.60

508,388

40.57

361,657

-

-

Plant  &  machinery

94,716

6.00

89,354

-12.37

101,963

234

30,476

456

5,480

Furniture  &  Vehicles

12,493

-77.56

55,687

144

22,778

27.02

17,933

2447

704

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

275

0

275

0

275

-90.21

2,810

0

2,810

Total  current  assets

22,145,387

52.78

14,494,802

27.15

11,399,944

71.15

6,660,605

40.38

4,744,540

Inventories

9,284,350

38.00

6,727,877

1.74

6,612,500

111

3,132,575

15.44

2,713,684

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

9,284,350

38.00

6,727,877

1.74

6,612,500

111

3,132,575

-

0

Other  stocks

0

-

0

-

0

-

0

-100

2,713,684

Trade  debtors

12,784,603

67.23

7,645,123

63.12

4,686,687

34.59

3,482,102

73.35

2,008,669

Other  amounts  receivable

53,751

-1.55

54,597

-0.39

54,809

2003

2,606

-22.97

3,383

Cash

9,754

-65.52

28,286

141

11,696

-27.97

16,238

29.83

12,507

Miscellaneous  current  assets

12,929

-66.78

38,919

13.62

34,253

26.47

27,084

330

6,297

Total  Assets

22,901,589

51.36

15,130,894

25.74

12,033,349

70.12

7,073,481

48.80

4,753,534

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

2,574,561

25.30

2,054,652

4.05

1,974,753

10.56

1,786,193

11.70

1,599,161

Issued  share  capital

1,899,727

25.10

1,518,600

0

1,518,600

0

1,518,600

0

1,518,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

674,834

25.89

536,052

17.52

456,153

70.47

267,593

232

80,561

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

20,327,028

55.45

13,076,242

30.00

10,058,595

90.24

5,287,288

67.62

3,154,373

Other  long  term  loans

4,404,949

100

2,194,919

41.82

1,547,725

135

658,504

-

-

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

4,404,949

100

2,194,919

41.82

1,547,725

135

658,504

-

0

Current  portion  of  long  term  debt

52,018

-13.31

60,002

14.51

52,400

27.37

41,139

-

-

Financial  debts

4,531,462

55.81

2,908,412

52.26

1,910,222

134

813,973

-

-

Trade  creditors

11,276,978

44.18

7,821,701

20.79

6,475,390

72.68

3,749,997

33.87

2,801,157

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

56,039

-35.82

87,319

26.37

69,098

301

17,228

4712

358

Miscellaneous  current  liabilities

5,582

43.53

3,889

3.43

3,760

-41.67

6,447

-98.17

352,858

Total  current  liabilities

15,922,079

46.32

10,881,323

27.85

8,510,870

83.87

4,628,784

46.74

3,154,373

Total  Liabilities

22,901,589

51.36

15,130,894

25.74

12,033,349

70.12

7,073,481

48.80

4,753,534

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.40

29.03

0.31

-53.73

0.67

-51.09

1.37

-

-

Return  on  capital  employed

2.77

25.91

2.20

-70.03

7.34

-10.38

8.19

140

3.41

Return  on  total  assets  employed

0.84

35.48

0.62

-71.16

2.15

-24.03

2.83

146

1.15

Return  on  net  assets  employed

7.50

64.84

4.55

-65.24

13.09

16.77

11.21

228

3.41

Sales  /  net  working  capital

7.84

-6.89

8.42

-36.50

13.26

83.66

7.22

-

-

Stock  turnover  ratio

19.02

-14.01

22.12

28.08

17.27

-19.15

21.36

-

-

Creditor  days

85.29

-10.02

94.79

51.98

62.37

-34.27

94.89

-

-

Debtor  days

95.62

4.24

91.73

105

44.67

-48.46

86.67

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.39

4.51

1.33

-0.75

1.34

-6.94

1.44

-4.00

1.50

Liquidity  ratio  /  acid  ratio

0.81

14.08

0.71

26.79

0.56

-26.32

0.76

18.75

0.64

Current  debt  ratio

6.18

16.60

5.30

22.97

4.31

66.41

2.59

31.47

1.97

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cash flow

174,797

41.80

123,273

-48.02

237,149

23.03

192,753

242

56,198

Net  worth

2,574,040

25.32

2,053,965

4.01

1,974,753

10.56

1,786,193

11.70

1,599,161

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

349.12

38.93

251.30

41.37

177.76

109

84.74

-

-

Equity  in  percentage

11.24

-17.23

13.58

-17.25

16.41

-35.01

25.25

-24.94

33.64

Total  debt  ratio

7.90

24.21

6.36

24.95

5.09

71.96

2.96

50.25

1.97

Working  capital

6,223,308

72.22

3,613,480

25.07

2,889,074

42.19

2,031,822

27.77

1,590,167

 

PROFIT & LOSS

 

Operating  Income

48,801,605

60.42

30,420,433

-20.57

38,297,518

161

14,664,572

-

-

Turnover

48,801,109

60.43

30,419,665

-20.57

38,295,985

161

14,664,572

-

-

Total  operating  expenses

48,259,883

60.24

30,117,898

-20.52

37,895,407

162

14,424,681

-

-

Gross  Operating  Margin

-

-

-

-

-

-

-

-

68,851

Operating  Charges

48,260,379

60.23

30,118,665

-20.52

37,896,940

162

14,424,681

-

-

Employee  costs

-

-

-

-

-

-

277

16.70

237

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-100

277

16.70

237

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

36,014

-16.97

43,374

-10.73

48,589

749

5,722

233

1,714

Operating  result

541,226

79.35

301,768

-24.67

400,578

66.98

239,891

267

65,210

Total  financial  income

250

-48.31

484

2.68

471

126

209

20752

1

Total  financial  expenses

348,410

66.87

208,789

46.42

142,601

257

39,899

271

10,727

Results  on  ordinary  operations  before taxation

193,065

106

93,462

-63.84

258,449

29.09

200,201

267

54,484

Extraordinary  Income

-

-

783

-

-

-

-

-

-

Extraordinary  Charges

14,277

738

1,702

-

-

-

-

-

-

Extraordinary  items

-14,277

-1453

-919

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

178,788

93.19

92,543

-64.19

258,449

29.09

200,201

267

54,484

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

40,006

216

12,645

-81.91

69,888

430

13,169

-

-

Results  on  ordinary  operations  after taxation

153,059

89.39

80,817

-57.14

188,560

0.82

187,032

243

54,484

Net result

138,782

73.70

79,898

-57.63

188,560

0.82

187,032

243

54,484

Profit  (Loss)  for  the  Year  to  be appropriated

138,782

73.70

79,898

-57.63

188,560

0.82

187,032

243

54,484

Dividend

-

-

-

-

-

-

-

-

-

 

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

124.62

Industry average day sales outstanding

181.08

 

Industry quartile analysis

 

Payment expectations

 

Company result

85.29

Lower

118.08

Median

74.35

Upper

45.68

 

 

Day sales outstanding

 

Company result

95.62

Lower

101.62

Median

53.45

Upper

24.31

 

 

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

MAYUR  DESAI

Position

Principal  Manager

Start  Date

01/01/2014

Street

120 LANGE  ACHTEROMSTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Name

DHARMESHKUMAR  BHAGWANBHAI  PATEL

Position

Principal  Manager

Start  Date

09/07/2008

Street

41 VAN  EYCKLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.66

UK Pound

1

Rs.100.50

Euro

1

Rs.71.31

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.