|
Report No. : |
310862 |
|
Report Date : |
03.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIAMBEL NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 195, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
27.06.1985 |
|
|
|
|
Com. Reg. No.: |
427397143 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Diamonds and Other Precious Stones |
|
|
|
|
No of Employees : |
01 |
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 : |
No Complaints |
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 427397143
Company name DIAMBEL NV
Address HOVENIERSSTRAAT
30-BUS 195
2018 ANTWERPEN
Number of staff 1
Date of establishment 27/06/1985
Telephone number 032314367
Fax number 032310522
The business was established over 29 years ago.
The business has 1 employees.
The business has been at the address for over 15 years.
Pre-tax profits increased by 46% compared to the previous trading
period.
The business saw a decrease in their Cash Balance of 47% during the
latest trading period.
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2013 |
95,562,313 |
256,612 |
32,055,620 |
39,911,388 |
|
31/12/2012 |
87,607,256 |
174,666 |
33,329,724 |
41,453,387 |
|
31/12/2011 |
98,280,005 |
154,531 |
33,830,590 |
33,502,579 |
|
|
|
|
|
|
|
ACCOUNTS |
||||
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
73,133,576 |
1 |
3,495,883 |
235,822 |
|
31/12/2012 |
72,409,642 |
2 |
3,654,020 |
225,462 |
|
31/12/2011 |
71,051,943 |
3 |
3,726,339 |
218,683 |
|
Past
payments |
|
Payment expectation days |
109.53 |
|
|
Industry average payment expectation days |
123..17 |
Industry average day sales outstanding |
141.43 |
|
|
Day
sales outstanding |
156 |
|
|
|
|
Court
data summary |
||||
|
BANKRUPTCY
DETAILS |
||||
|
Court
action type |
no |
|
|
|
|
PROTESTED
BILLS |
||||
|
Bill
amount |
||||
|
NSSO
DETAILS |
||||
|
Date
of summons |
-- |
|
|
|
|
Business number |
427397143 |
|
Company name |
DIAMBEL NV |
|
|
Fax number |
032310522 |
|
Date founded |
27/06/1985 |
|
|
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 other precious
stones |
VAT Number |
BE.0427.397.143 Check VAT
number |
||
|
Belgian Bullettin of Acts
Publications |
moniteur belge |
|
|
|
|
|
Social Balance Sheet |
Total |
|
|
|
During the reporting year ended 31-12-2013 |
|||
|
Full-time Employees |
1 |
|
|
|
Part-time Employees |
2 |
|
|
|
Total Fte Employees |
2 |
|
|
|
|
|||
|
Number of hours worked |
|||
|
Full-time Employees |
1,756 |
|
|
|
Part-time Employees |
2,127 |
|
|
|
Total |
3,883 |
|
|
|
|
|||
|
Personnel Charges |
|||
|
Full-time Employees |
30,669 |
|
|
|
Part-time Employees |
37,149 |
|
|
|
Total |
67,818 |
|
|
|
Benefits In Addition To
Wages |
- |
|
|
|
|
|||
|
During the previous
reporting year |
|||
|
Average number employees in
Fte |
3 |
|
|
|
Actual working hours |
3,273 |
|
|
|
Personnel Charges |
54,137 |
|
|
|
Benefits In Addition To
Wages |
- |
|
|
Type of Contract Full-Time
Part-Time Total Fte
Unlimited Duration
Contracts 1 1 2
Women Full-Time
Part-Time Total Fte
Primary education - 1 1
Secondairy education 1 - 1
Working Category Full-Time
Part-Time Total Fte
White collar worker 1 1 2
New staff and leavers Full-Time
Part-Time Total Fte
Leavers - 1 1
SIGNIFICANT EVENTS
Event Date 15/12/2011
Event Description
Event Details De aandelen aan
toonder worden omgezet in aandelen op naam.
PROFIT & LOSS
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
95,562,313 |
9.08 |
87,607,256 |
-10.86 |
98,280,005 |
54,328,773 |
75.90 |
|
Total
operating expenses |
94,656,042 |
7.79 |
87,811,797 |
-7.29 |
94,713,950 |
53,874,825 |
75.70 |
|
Operating
result |
906,271 |
443 |
-204,541 |
-105 |
3,566,055 |
149,823 |
504 |
|
Total
financial income |
359,704 |
-69.13 |
1,165,269 |
-72.65 |
4,261,279 |
83,179 |
332 |
|
Total financial expenses |
1,009,362 |
28.41 |
786,062 |
-89.76 |
7,672,803 |
191,543 |
426 |
|
Results on ordinary
operations before taxation |
256,612 |
46.92 |
174,666 |
13.03 |
154,531 |
34,909 |
635 |
|
Taxation |
21,834 |
0.07 |
21,818 |
45.20 |
15,026 |
21,734 |
0.46 |
|
Results on ordinary
operations after taxation |
234,778 |
53.60 |
152,848 |
9.56 |
139,505 |
18,939 |
1139 |
|
Extraordinary items |
-68,522 |
- |
0 |
- |
0 |
5,365 |
-1377 |
|
Other appropriations |
2066 |
-27.53 |
2851 |
-67.42 |
8751 |
- |
- |
|
Net result |
168,322 |
8.11 |
155,699 |
5.02 |
148,256 |
24,438 |
588 |
|
OTHER INFORMATION |
|
|
|
|
|
|
|
|
Gross Operating Margin |
- |
- |
- |
- |
- |
33,409 |
- |
|
Dividends |
- |
- |
- |
- |
- |
234,766 |
- |
|
Director remuneration |
57,389 |
7.16 |
53,552 |
- |
- |
126,036 |
-54.47 |
|
Employee costs |
67,818 |
19.85 |
56,586 |
-29.61 |
80,393 |
139,048 |
-51.23 |
|
Wages and salary |
55,480 |
17.93 |
47,044 |
-32.37 |
69,565 |
119,968 |
-53.75 |
|
Employee pension costs |
- |
- |
- |
- |
- |
23,129 |
- |
|
Social security
contributions |
11,570 |
32.58 |
8,727 |
-10.63 |
9,765 |
29,614 |
-60.93 |
|
Other employee costs |
768 |
-5.88 |
816 |
-23.31 |
1,064 |
3,979 |
-80.70 |
|
Amortization and
depreciation |
67,500 |
-3.24 |
69,763 |
-0.94 |
70,427 |
17,896 |
277 |
BALANCE SHEET
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
1,298 |
-100 |
|
Tangible
fixed assets |
689,147 |
-12.49 |
787,511 |
-9.29 |
868,198 |
189,680 |
263 |
|
Land &
building |
654,498 |
-8.99 |
719,158 |
-6.50 |
769,139 |
369,885 |
76.95 |
|
Plant &
machinery |
26,816 |
-52.68 |
56,667 |
-29.67 |
80,573 |
26,893 |
-0.29 |
|
Furniture
& Vehicles |
7,833 |
-32.97 |
11,686 |
-36.78 |
18,485 |
15,771 4,585 |
-50.33 |
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
107,517 34,551 |
- |
|
Other
tangible assets |
0 |
- |
0 |
-100 |
1 |
9,057 |
-100 |
|
Financial
fixed assets |
- |
- |
- |
- |
- |
179,439 |
- |
|
Total fixed
assets |
689,147 |
-12.49 |
787,511 |
-9.29 |
868,198 |
299,919 |
129 |
|
Inventories |
28,503,314 |
-7.88 |
30,942,172 |
6.40 |
29,080,689 |
2,927,814 |
873 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
6,545,857 |
- |
|
Work in
progress |
0 |
- |
0 |
- |
0 |
1,123 |
-100 |
|
Finished
goods |
28,503,314 |
-7.88 |
30,942,172 |
6.40 |
29,080,689 |
1,943,728 |
1366 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
451,609 |
-100 |
|
Trade debtors |
40,842,834 |
11.88 |
36,504,679 |
-0.26 |
36,598,726 |
4,241,844 |
862 |
|
Cash |
1,152,807 |
-47.49 |
2,195,360 |
-34.28 |
3,340,573 |
456,237,237 |
-99 |
|
Other
Amounts Receivable |
1,931,141 |
-1.73 |
1,965,041 |
70.64 |
1,151,582 |
181,821 |
962 |
|
Miscellaneous
current assets |
14,333 |
-3.67 |
14,879 |
22.21 |
12,175 |
-449,184,062 |
0.00 |
|
Total
current assets |
72,444,429 |
1.15 |
71,622,131 |
2.05 |
70,183,745 |
7,131,127 |
915 |
|
Total
Assets |
73,133,576 |
1.00 |
72,409,642 |
1.91 |
71,051,943 |
7,398,361 1,291,835 |
888 |
CURRENT LIABILITIES
|
Trade creditors |
28,405,739 |
-3.45 |
29,421,129 |
-18.02 |
35,886,667 |
2,898,098 |
880 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
3,449,860 |
10289 |
33,205 |
300 |
8,293 |
4,392,180
148,601 |
-21.45 |
|
Current portion of long term debt |
- |
- |
5,036 |
-22.01 |
6,457 |
81,130 14,053 |
- |
|
Amounts Payable for Taxes,
Remuneration & Social Security |
15,112 |
-31.30 |
21,997 |
-2.74 |
22,617 |
8,507 - |
-52.24 |
|
Miscellaneous current liabilities |
662,330 |
-3.64 |
687,377 |
-9.21 |
757,132 |
174 |
-- |
|
Total current liabilities |
32,533,041 |
7.84 |
30,168,744 |
-17.75 |
36,681,166 |
5,071,474 |
541 |
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Other long term loans |
8,017,026 |
-4.33 |
8,379,677 |
166295 |
5,036 |
583 |
-- |
|
Deffered taxes |
32,109 |
-10.11 |
35,721 |
-9.19 |
39,336 |
46,266 28,377 |
-30.60 |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,923 0 |
-100 |
|
Other long term liabilities |
495,780 |
0.00 |
495,776 |
-0.01 |
495,815 |
243,305 |
103 |
|
Total long term debts |
8,544,915 |
-4.11 |
8,911,174 |
1549 |
540,187 |
679,953 |
1156 |
|
Issued share capital |
3,495,883 |
-4.33 |
3,654,020 |
-1.94 |
3,726,339 |
963,005 |
263 |
|
Share premium account |
- |
- |
- |
- |
- |
124,160 |
- |
|
Reserves |
28,559,737 |
-3.76 |
29,675,704 |
-1.42 |
30,104,251 |
653,401 |
4270 |
|
Revaluation reserve |
- |
- |
- |
- |
- |
881,530 |
- |
|
Total shareholders equity |
32,055,620 |
-3.82 |
33,329,724 |
-1.48 |
33,830,590 |
1,639,055 |
1855 |
|
Working capital |
39,911,388 |
-3.72 |
41,453,387 |
23.73 |
33,502,579 |
2,059,653 |
1837 |
|
Cash flow |
235,822 |
4.60 |
225,462 |
3.10 |
218,683 |
38,980 |
504 |
|
Net worth |
32,055,620 |
-3.82 |
33,329,724 |
-1.48 |
33,830,590 |
1,637,757 |
1857 |
RATIO
|
Annual accounts |
31-12-2013 |
change(%) |
31-12-2012 |
change(%) |
31-12-2011 |
Industry average 2013 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.27 |
35.00 |
0.20 |
25.00 |
0.16 |
-7,00 |
3.86 |
|
Return on
capital employed |
0.63 |
53.66 |
0.41 |
-8.89 |
0.45 |
-7,00 |
9.00 |
|
Return on
total assets employed |
0.35 |
45.83 |
0.24 |
9.09 |
0.22 |
-8,00 |
4.38 |
|
Return on
net assets employed |
0.80 |
53.85 |
0.52 |
13.04 |
0.46 |
-6,00 |
13.33 |
|
Sales / net
working capital |
2.39 |
13.27 |
2.11 |
-27.99 |
2.93 |
132,00 |
-99 |
|
Stock
turnover ratio |
29.83 |
-15.54 |
35.32 |
19.36 |
29.59 |
76,00 |
-60.75 |
|
Debtor days |
156 |
2.57 |
152.09 |
11.90 |
135.92 |
141,43 |
10.30 |
|
Creditor
days |
109.53 |
-10.43 |
122.29 |
-11.58 |
138.30 |
123,17 |
-11.07 |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
Current
ratio |
2.23 |
-5.91 |
2.37 |
24.08 |
1.91 |
4,00 |
-77.70 |
|
Liquidity
ratio / acid ratio |
1.35 |
0 |
1.35 |
20.54 |
1.12 |
3,00 |
-55.00 |
|
Current
debt ratio |
1.01 |
10.99 |
0.91 |
-15.74 |
1.08 |
10,00 |
-89.90 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
|
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
Gearing |
35.77 |
41.61 |
25.26 |
42000 |
0.06 |
229,00 |
-84.38 |
|
Equity in
percentage |
43.83 |
-4.78 |
46.03 |
-3.32 |
47.61 |
-210,00 |
20.87 |
|
Total debt
ratio |
1.28 |
9.40 |
1.17 |
6.36 |
1.10 |
11,00 |
-88.36 |
|
Activity code |
46761 |
|
|
Activity description |
Wholesale
of diamonds and other precious stones |
|
|
industry average credit rating |
64.48 |
|
|
Industry average credit limit |
140177.31 |
|
|
|
|
|
Payment Information
|
|
|
|
Payment expectations |
||
|
Payment expectation days |
109.53 |
|
|
Day sales outstanding |
156 |
|
|
|
|
|
Industry comparison
|
||
|
Activity code |
46761 |
|
|
Activity description |
Wholesale
of diamonds and other precious stones |
|
|
Industry average payment expectation
days |
123.17 |
|
|
Industry average day sales
outstanding |
141.43 |
|
PAYMENT EXPECTATIONS
Company result 109.53
Lower 122.66
Median 75.38
Upper 46.73
Company result 156
Lower 101.92
Median 54.50
Upper 24.07
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
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 |
SARJUBEN SANGHVI |
|
Position |
Chairman of the Board |
|
Start Date |
29/03/1999 |
|
Street |
12 ZINKHOEVELAAN ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Position |
Director |
|
Start Date |
02/08/2011 |
|
Street |
12 ZINKHOEVELAAN ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
ASHISHKUMAR JARIWALA |
|
Position |
Director |
|
Start Date |
01/01/2012 |
|
Street |
142 KRUISHOFSTRAAT ANTWERPEN |
|
Post code |
2020 |
|
Country |
Belgium |
FORMER DIRECTOR DETAILS
Name PASMI DIMON BVBA
Position Director
Start
Date 12/01/2004
End
Date Unknown
date
Date of birth 15/05/2000
Street 30
HOVENIERSSTRAAT ANTWERPEN
Post code 2018
Country Belgium
Name TEJPAL
JAYANTILAL MEHTA
Position Director
Start
Date 29/03/1999
End
Date Unknown
date
Street 25
BELGIELEI ANTWERPEN
Post code 2018
Country Belgium
Name PARESH
SANGHVI
Position Principal
Manager
Start
Date 31/12/1995
End
Date Unknown
date
Street 12
ZINKHOEVELAAN ANTWERPEN
Post code 2610
Country Belgium
Position Managing
Director
Start
Date 29/03/1999
End
Date Unknown
date
Street 12
ZINKHOEVELAAN ANTWERPEN
Post code 2610
Country Belgium
Position Director
Start
Date 29/03/1999
End
Date Unknown
date
Street 12 ZINKHOEVELAAN
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.61.82 |
|
|
1 |
Rs.95.27 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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.