MIRA INFORM REPORT

 

 

Report No. :

310971

Report Date :

05.03.2015

 

IDENTIFICATION DETAILS

 

Name :

MOXDIAM BVBA

 

 

Registered Office :

Hoveniersstraat  30-Bus  161, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

11.09.2008

 

 

Com. Reg. No.:

806632994

 

 

Legal Form :

Pr4ivate Limited company

 

 

Line of Business :

Wholesale of Diamonds and Other Precious Stones.

 

 

No. of Employees :

From 1 to 4 Employees

 

 

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 – 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 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

 

 

Company Summary

 

Business  number

806632994

Company  name

MOXDIAM  BVBA

Address

HOVENIERSSTRAAT  30-BUS  161, 2018 ANTWERPEN

Number  of  staff

FROM  1  TO  4  EMPLOYEES

Date  of  establishment

11/09/2008

Telephone  number

0478670176

Fax  number

--

 

 

Commentary

 

The business was established over 6 years ago.

The business has 1 employees.

The business has been at the address for over 6 years.

Net Worth increased by 54% during the latest trading period.

A 87% growth in Total Assets occurred during the latest trading period.

 

 

Accounts

 

DATE  OF 

LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE 

TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

55,299

104,465

103,706

31/12/2012

 

57,182

67,625

66,519

31/12/2011

 

32,847

45,219

44,096

Accounts

 

 

 

 

DATE  OF 

LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER 

OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

4,005,048

0

18,600

37,187

31/12/2012

2,132,376

0

18,600

22,752

31/12/2011

1,518,355

1

18,600

22,037

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

Expectation  Days

127.02

Industry  average  day  sales outstanding

185.93

Day  sales  outstanding

-

 

 

 

 

Company information

 

Business  number

806632994

Company  name

MOXDIAM  BVBA

Fax  number

 

Date  founded

11/09/2008

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.0806.632.994  Check 

VAT number

Belgian  Bullettin  of  Acts

Publications

moniteur  belge

 

 

 

 

Contractor details

 

Registered  contractor number

-

Contractor  description

-

Date  struck  off  register

 

 

 

Personnel  (NSSO  Classification)

Code

-

Description

FROM  1  TO  4  EMPLOYEES

 

 

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

 

68

 

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

 

Total  fixed  assets

759

-31.35

1,106

-1.52

1,123

-

-

-

-

 

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

 

Tangible  fixed  assets

759

-31.35

1,106

-1.52

1,123

-

-

-

-

 

Land  &  building

-

-

-

-

-

-

-

-

-

 

Plant  &  machinery

759

-31.35

1,106

-1.52

1,123

-

-

-

-

 

Furniture  &  Vehicles

-

-

-

-

-

-

-

-

-

 

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

 

Other  tangible  assets

0

-

0

-

0

-

0

-

0

 

Financial  fixed  assets

-

-

-

-

-

-

-

-

-

 

Total  current  assets

4,004,289

87.88

2,131,269

40.47

1,517,232

158

587,209

3582

15,945

 

Inventories

3,488,680

95.09

1,788,197

96.60

909,579

65.97

548,048

-

-

 

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

 

Work  in  progress

0

-

0

-

0

-

0

-

0

 

Finished  goods

0

-

0

-

0

-

0

-

0

 

Other  stocks

3,488,680

95.09

1,788,197

96.60

909,579

65.97

548,048

-

0

 

Trade  debtors

358,893

76.71

203,103

-63.99

563,974

-

0

-

0

 

Other  amounts  receivable

2,487

143

1,020

-51.56

2,105

315

506

93.36

262

 

Cash

147,489

6.71

138,209

262

38,130

-1.36

38,655

146

15,683

 

Miscellaneous  current  assets

6,739

809

741

-78.49

3,443

-

0

-

0

 

Total  Assets

4,005,048

87.82

2,132,376

40.44

1,518,355

158

587,209

3582

15,945

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

104,465

54.48

67,625

49.55

45,219

92.73

23,463

47.15

15,945

 

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

 

Share  premium  account

-

-

-

-

-

-

-

-

-

 

 

 

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

85,865

75.15

49,025

84.17

26,619

447

4,863

183

-2,655

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

3,900,583

88.91

2,064,751

40.16

1,473,136

161

563,746

-

-

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

121,486

48.74

81,676

390

16,666

-

-

-

-

Trade  creditors

3,621,994

522

581,639

-51.55

1,200,405

113

561,527

-

-

Amounts  Payable  for  Taxes,  Remuneration  & Social  Security

18,460

68.43

10,960

-28.40

15,308

782

1,735

-

-

Miscellaneous  current  liabilities

138,643

-90.03

1,390,476

477

240,758

49643

484

-

0

Total  current  liabilities

3,900,583

88.91

2,064,751

40.16

1,473,136

161

563,746

-

0

Total  Liabilities

4,005,048

87.82

2,132,376

40.44

1,518,355

158

587,209

3582

15,945

 

 

Ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

52.94

-37.39

84.56

16.41

72.64

84.18

39.44

236

-16.65

Return  on  total  assets  employed

1.38

-48.51

2.68

24.07

2.16

36.71

1.58

9.49

-16.65

Return  on  net  assets  employed

52.94

-37.39

84.56

16.41

72.64

84.18

39.44

236

-16.65

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.03

0

1.03

0

1.03

-0.96

1.04

-

-

Liquidity  ratio  /  acid  ratio

0.13

-23.53

0.17

-58.54

0.41

485

0.07

-

-

Current  debt  ratio

37.34

22.31

30.53

-6.29

32.58

35.58

24.03

-

-

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

37,187

63.44

22,752

3.25

22,037

193

7,518

283

-2,655

Net  worth

104,465

54.48

67,625

49.55

45,219

92.73

23,463

47.15

15,945

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

116.29

-3.72

120.78

227

36.86

-

-

-

-

Equity  in  percentage

2.61

-17.67

3.17

6.38

2.98

-25.50

4.00

-96.00

100.00

Total  debt  ratio

37.34

22.31

30.53

-6.29

32.58

35.58

24.03

-

-

Working  capital

103,706

55.90

66,519

50.85

44,096

87.94

23,463

47.15

15,945

 

 

PROFIT & LOSS

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

107,945

-3.58

111,954

-20.74

141,249

479

-29,460

-9385

317

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

-

-

4,552

-74.51

17,861

-

-

-

-

Wages  and  salary

-

-

3,881

-76.92

16,815

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

519

-17.84

632

-

-

-

-

Other  employee  costs

0

-100

152

-63.26

414

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

347

0

347

23.48

281

-

-

-

-

Operating  result

106,440

-0.01

106,452

-13.10

122,506

407

-30,062

-4666

-631

Total  financial  income

-

-

-

-

-

-

40,031

-

-

Total  financial  expenses

51,141

3.80

49,270

-45.05

89,659

12415

716

-64.62

2,025

Results  on  ordinary  operations  before  taxation

55,299

-3.29

57,182

74.09

32,847

254

9,253

348

-2,655

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

24,067

-

-

-

-

-

-

Extraordinary  items

0

0

-24,067

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

55,299

66.99

33,115

0.82

32,847

254

9,253

348

-2,655

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

18,459

72.36

10,709

-3.43

11,090

539

1,735

-

-

Results  on  ordinary  operations  after  taxation

36,840

-20.73

46,472

113

21,756

189

7,518

283

-2,655

Net  result

36,840

64.42

22,406

2.98

21,756

189

7,518

283

-2,655

Profit  (Loss)  for  the  Year  to  be  appropiated

36,840

64.42

22,406

2.98

21,756

189

7,518

283

-2,655

Dividends

-

-

-

-

-

-

-

-

-

 

 

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

 

0

 

Actual  working  hours

 

327

 

Personnel  Charges

 

4,552

 

Benefits  In  Addition  To  Wages

 

-

 

 

 

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

 

 

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

127.02

Industry  average  day  sales

outstanding

185.93

 

Industry quartile analysis

 

Payment expectations

Company  result

-

Lower

120.44

Median

74.93

Upper

46.53

 

Day  sales  outstanding

 

Company  result

-

Lower

102.33

Median

54.07

Upper

24.12

 

 

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

MIHIR  SHAH

Position

Principal  Manager

Start  Date

27/08/2010

Street

31 DENNENLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

 

 

Name

NARESHKUMAR  MANEKLAL  SHAH

Position

Principal  Manager

Start  Date

27/08/2010

Street

31 DENNENLAAN  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.61.85

UK Pound

1

Rs.94.96

Euro

1

Rs.69.10

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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%)

 

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.