|
Report No. : |
344326 |
|
Report Date : |
07.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLORIOUS GEMS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 223, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
28.10.1997 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in Wholesale of Diamonds and Other Precious Stones |
|
|
|
|
No. of Employee : |
1 |
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 – 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 |
GLORIOUS
GEMS BVBA
|
Business number |
461869854 |
|
Company name |
GLORIOUS GEMS BVBA |
|
Address |
HOVENIERSSTRAAT 30-BUS 223 |
|
|
2018 ANTWERPEN |
|
Number of staff |
1 |
|
Date of
establishment |
28/10/1997 |
|
Telephone number |
032317406 |
|
Fax number |
032317406 |
The business was established
over 17 years ago.
The business has 1 employees.
The business has been at
the address for over 10 years.
Operating Result in the latest
trading period increased 27% on the
previous trading period.
A 28% growth in Total
Assets occurred during the latest trading
period.
The business saw a decrease
in their Cash Balance of 77% during
the latest trading period.
Turnover in the latest trading
period increased 34% on the previous
trading period.
|
DATE OF
LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE
TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2014 |
270,010,823 |
623,034 |
19,357,439 |
25,602,493 |
|
31/12/2013 |
201,110,303 |
530,553 |
16,577,657 |
22,078,056 |
|
31/12/2012 |
189,980,545 |
474,914 |
16,884,211 |
20,946,659 |
|
Accounts |
|
|
|
|
|
DATE OF
LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF
EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2014 |
94,948,470 |
1 |
16,754,495 |
588,796 |
|
31/12/2013 |
74,149,165 |
1 |
14,750,709 |
475,676 |
|
31/12/2012 |
72,252,277 |
1 |
15,417,960 |
468,182 |
|
Past payments |
|
Payment
expectation days |
35.43 |
|
Industry average
payment |
107.71 |
Industry average
day sales |
171.70 |
|
expectation days |
|
outstanding |
|
|
Day sales
outstanding |
110.99 |
|
|
BANKRUPTCY DETAILS
|
Court action type |
no |
PROTESTED BILLS
|
Bill amount |
- |
NSSO DETAILS
|
Date of summons |
- |
|
Business number |
461869854 |
Company name |
GLORIOUS GEMS BVBA |
|
Fax number |
032317406 |
Date founded |
28/10/1997 |
|
Company status |
active |
Company type |
Private Limited Company |
|
|
|
|
(BL/LX) |
|
Currency |
Euro (€) |
Date of
latest accounts |
31/12/2014 |
|
Activity code |
46761 |
Liable for VAT |
yes |
|
Activity description |
Wholesale of diamonds and |
VAT Number |
BE.0461.869.854 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)
Significant Events
|
Event Date |
29/03/2012 |
|
Event Description |
|
|
Event Details |
Mangukiya Rahul schrijft in
op de 1480 nieuwe aandelen. |
|
Assets |
|
|
|
|
|
|
|
|
|
|
Annual accounts |
31-12-2014 |
% |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Total fixed assets |
547,929 |
5.31 |
520,280 |
-12.39 |
593,841 |
4.60 |
567,752 |
5.00 |
540,700 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed assets |
547,352 |
5.31 |
519,773 |
-12.39 |
593,311 |
4.53 |
567,614 |
5.00 |
540,566 |
|
Land & building |
471,691 |
8.49 |
434,779 |
-9.50 |
480,404 |
-5.77 |
509,820 |
-1.47 |
517,433 |
|
Plant & machinery |
4,857 |
-33.16 |
7,267 |
-26.83 |
9,932 |
-20.61 |
12,510 |
-13.25 |
14,420 |
|
Furniture & Vehicles |
70,804 |
-8.91 |
77,726 |
-24.52 |
102,975 |
127 |
45,283 |
419 |
8,712 |
|
Leasing & Other
Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other tangible assets |
0 |
-100 |
1 |
- |
0 |
-100 |
1 |
0 |
1 |
|
Financial fixed assets |
577 |
13.58 |
508 |
-4.33 |
531 |
284 |
138 |
2.99 |
134 |
|
Total current assets |
94,400,541 |
28.21 |
73,628,885 |
2.75 |
71,658,436 |
2.01 |
70,249,439 |
86.07 |
37,754,017 |
|
Inventories |
12,110,125 |
26.21 |
9,595,024 |
-12.04 |
10,908,214 |
-50.70 |
22,127,095 |
84.53 |
11,990,759 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
12,110,125 |
26.21 |
9,595,024 |
-12.04 |
10,908,214 |
-50.70 |
22,127,095 |
84.53 |
11,990,759 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade debtors |
82,106,534 |
29.63 |
63,336,988 |
4.80 |
60,434,121 |
26.58 |
47,743,116 |
92.73 |
24,771,514 |
|
Other amounts receivable |
29,859 |
431 |
5,614 |
1.28 |
5,543 |
72.46 |
3,214 |
-38.99 |
5,268 |
|
Cash |
153,612 |
-77.69 |
688,514 |
123 |
307,600 |
-17.57 |
373,148 |
-62.17 |
986,477 |
|
Miscellaneous current assets |
411 |
-85.03 |
2,745 |
-7.17 |
2,957 |
3.18 |
2,866 |
286600 |
-1 |
|
Total Assets |
94,948,470 |
28.05 |
74,149,165 |
2.63 |
72,252,277 |
2.03 |
70,817,191 |
84.93 |
38,294,717 |
Liabilities
|
Total shareholders equity |
19,357,439 |
16.77 |
16,577,657 |
-1.82 |
16,884,211 |
31.01 |
12,888,166 |
5.97 |
12,162,116 |
|
Issued share capital |
16,754,495 |
13.58 |
14,750,709 |
-4.33 |
15,417,960 |
30.38 |
11,825,370 |
3.27 |
11,450,520 |
|
Share premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Revaluation reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Reserves |
2,602,944 |
42.47 |
1,826,948 |
24.60 |
1,466,251 |
37.96 |
1,062,796 |
49.35 |
711,596 |
|
Provisions for Liabilities
& Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered taxes |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Creditors |
75,591,031 |
31.30 |
57,571,508 |
3.98 |
55,368,065 |
-4.42 |
57,929,025 |
121 |
26,132,601 |
|
Other long term loans |
6,792,983 |
12.83 |
6,020,679 |
29.30 |
4,656,288 |
214 |
1,480,258 |
0.83 |
1,468,020 |
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other long term liabilities |
0 |
- |
0 |
-100 |
1 |
- |
0 |
- |
0 |
|
Total long term debts |
6,792,983 |
12.83 |
6,020,679 |
29.30 |
4,656,289 |
214 |
1,480,258 |
0.83 |
1,468,020 |
|
Current portion of long
term debt |
40,606 |
18.47 |
34,275 |
-8.79 |
37,577 |
4.91 |
35,819 |
4.13 |
34,399 |
|
Financial debts |
42,342,822 |
13.92 |
37,167,876 |
8.91 |
34,127,770 |
31.39 |
25,974,041 |
131 |
11,227,100 |
|
Trade creditors |
25,938,639 |
85.13 |
14,011,252 |
-13.03 |
16,109,518 |
-38.77 |
26,311,628 |
98.17 |
13,277,189 |
|
Amounts Payable for Taxes, |
147,621 |
23.02 |
119,995 |
44.79 |
82,875 |
72.44 |
48,061 |
91.86 |
25,050 |
|
Remuneration & Social
Security |
|
|
|
|
|
|
|
|
|
|
Miscellaneous current liabilities |
328,360 |
51.02 |
217,431 |
-38.59 |
354,037 |
-91.32 |
4,079,218 |
3945 |
100,843 |
|
Total current liabilities |
68,798,048 |
33.46 |
51,550,829 |
1.65 |
50,711,777 |
-10.16 |
56,448,767 |
128 |
24,664,581 |
|
Total Liabilities |
94,948,470 |
28.05 |
74,149,165 |
2.63 |
72,252,277 |
2.03 |
70,817,191 |
84.93 |
38,294,717 |
|
ratio analysis |
|
|
|
|
|
|
|
|
|
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit Before Tax |
0.23 |
-11.54 |
0.26 |
4.00 |
0.25 |
38.89 |
0.18 |
-5.26 |
0.19 |
|
Return on capital employed |
2.38 |
1.28 |
2.35 |
6.82 |
2.20 |
-20.29 |
2.76 |
20.52 |
2.29 |
|
Return on total assets
employed |
0.66 |
-8.33 |
0.72 |
9.09 |
0.66 |
17.86 |
0.56 |
-30.86 |
0.81 |
|
Return on net assets
employed |
3.22 |
0.62 |
3.20 |
13.88 |
2.81 |
-8.77 |
3.08 |
20.31 |
2.56 |
|
Sales / net working
capital |
10.55 |
15.81 |
9.11 |
0.44 |
9.07 |
-42.52 |
15.78 |
26.54 |
12.47 |
|
Stock turnover ratio |
4.49 |
-5.87 |
4.77 |
-16.90 |
5.74 |
-43.50 |
10.16 |
38.23 |
7.35 |
|
Creditor days |
35.43 |
37.81 |
25.71 |
-17.81 |
31.28 |
-29.64 |
44.46 |
48.55 |
29.93 |
|
Debtor days |
110.99 |
-3.44 |
114.95 |
-1.00 |
116.11 |
45.14 |
80.00 |
44.43 |
55.39 |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current ratio |
1.37 |
-4.20 |
1.43 |
1.42 |
1.41 |
13.71 |
1.24 |
-18.95 |
1.53 |
|
Liquidity ratio / acid
ratio |
1.20 |
-3.23 |
1.24 |
3.33 |
1.20 |
41.18 |
0.85 |
-18.27 |
1.04 |
|
Current debt ratio |
3.55 |
14.15 |
3.11 |
3.67 |
3.00 |
-31.51 |
4.38 |
115 |
2.03 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cashflow |
588,796 |
23.78 |
475,676 |
1.60 |
468,182 |
27.56 |
367,015 |
19.19 |
307,932 |
|
Net worth |
19,357,439 |
16.77 |
16,577,657 |
-1.82 |
16,884,211 |
31.01 |
12,888,166 |
5.97 |
12,162,116 |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
254.04 |
-2.57 |
260.73 |
13.40 |
229.93 |
7.80 |
213.30 |
103 |
104.67 |
|
Equity in percentage |
20.39 |
-8.81 |
22.36 |
-4.32 |
23.37 |
28.41 |
18.20 |
-42.70 |
31.76 |
|
Total debt ratio |
3.91 |
12.68 |
3.47 |
5.79 |
3.28 |
-26.95 |
4.49 |
108 |
2.15 |
|
Working capital |
25,602,493 |
15.96 |
22,078,056 |
5.40 |
20,946,659 |
51.78 |
13,800,672 |
5.43 |
13,089,436 |
|
Profit
& loss |
|
|
|
|
|
|
|
|
|
|
Operating Income |
270,010,950 |
34.26 |
201,110,419 |
5.86 |
189,985,095 |
-12.78 |
217,817,974 |
33.43 |
163,243,559 |
|
Turnover |
270,010,823 |
34.26 |
201,110,303 |
5.86 |
189,980,545 |
-12.78 |
217,816,241 |
33.43 |
163,241,267 |
|
Total operating expenses |
267,183,657 |
34.34 |
198,890,688 |
5.82 |
187,951,572 |
-12.99 |
216,011,887 |
33.43 |
161,891,674 |
|
Gross Operating Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Charges |
267,183,784 |
34.34 |
198,890,803 |
5.82 |
187,956,121 |
-12.99 |
216,013,620 |
33.43 |
161,893,965 |
|
Employee costs |
56,745 |
13.42 |
50,033 |
1.45 |
49,320 |
-34.79 |
75,638 |
34.27 |
56,334 |
|
Wages and salary |
46,668 |
14.13 |
40,892 |
1.71 |
40,205 |
-35.80 |
62,625 |
29.91 |
48,205 |
|
Employee pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social security contributions |
9,347 |
9.85 |
8,509 |
3.40 |
8,229 |
-34.30 |
12,525 |
59.74 |
7,841 |
|
Other employee costs |
731 |
15.85 |
631 |
-28.78 |
886 |
81.56 |
488 |
69.44 |
288 |
|
Director remuneration |
187,763 |
0.29 |
187,227 |
84.77 |
101,331 |
-2.55 |
103,981 |
- |
- |
|
Amortization and |
60,979 |
18.35 |
51,524 |
16.83 |
44,101 |
12.76 |
39,110 |
24.57 |
31,396 |
|
depreciation |
|
|
|
|
|
|
|
|
|
|
Operating result |
2,827,166 |
27.37 |
2,219,615 |
9.40 |
2,028,973 |
12.45 |
1,804,354 |
33.70 |
1,349,593 |
|
Total financial income |
311 |
-96.90 |
10,032 |
25623 |
39 |
-72.73 |
143 |
257 |
40 |
|
Total financial expenses |
2,204,444 |
29.74 |
1,699,093 |
9.33 |
1,554,098 |
10.39 |
1,407,799 |
35.61 |
1,038,153 |
|
Results on ordinary |
623,034 |
17.43 |
530,553 |
11.72 |
474,914 |
19.72 |
396,698 |
27.36 |
311,480 |
|
operations before taxation |
|
|
|
|
|
|
|
|
|
|
Extraordinary Income |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary Charges |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary items |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Results for the Year
Before |
623,034 |
17.43 |
530,553 |
11.72 |
474,914 |
19.72 |
396,698 |
27.36 |
311,480 |
|
Taxation |
|
|
|
|
|
|
|
|
|
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
95,216 |
-10.51 |
106,401 |
109 |
50,832 |
-26.11 |
68,793 |
96.87 |
34,944 |
|
Results on ordinary |
527,818 |
24.44 |
424,152 |
0.02 |
424,082 |
29.33 |
327,905 |
18.58 |
276,536 |
|
operations after taxation |
|
|
|
|
|
|
|
|
|
|
Net result |
527,817 |
24.44 |
424,152 |
0.02 |
424,081 |
29.33 |
327,905 |
18.58 |
276,536 |
|
Profit (Loss) for the
Year to be appropiated |
527,817 |
24.44 |
424,152 |
0.02 |
424,081 |
29.33 |
327,905 |
18.58 |
276,536 |
Social Balance Sheet Details
|
Social Balance
Sheet |
|
Total |
|
|
During the
reporting year |
|
|
|
|
ended 31-12-2014 |
|
|
|
|
Full-time Employees |
|
- |
|
|
Part-time Employees |
|
2 |
|
|
Total Fte
Employees |
|
2 |
|
|
Number of
hours worked |
|
|
|
|
Full-time Employees |
|
- |
|
|
Part-time Employees |
|
2,541 |
|
|
Total |
|
2,541 |
|
|
Personnel Charges |
|
|
|
|
Full-time Employees |
|
- |
|
|
Part-time Employees |
|
56,746 |
|
|
Total |
|
56,746 |
|
|
Benefits In
Addition To Wages |
|
- |
|
|
During the
previous reporting year |
|
|
|
|
Average number
employees in Fte |
|
2 |
|
|
Actual working
hours |
|
2,541 |
|
|
Personnel Charges |
|
50,033 |
|
|
Benefits In
Addition To Wages |
|
- |
|
|
|
|
|
|
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration |
- |
2 |
2 |
|
Contracts |
|
|
|
|
Limited Duration
Contracts |
- |
- |
- |
|
Contracts For
Specific Work |
- |
- |
- |
|
Contracts Regarding |
- |
- |
- |
|
Substitution |
|
|
|
|
Gender and
Education |
|
|
|
|
Level |
|
|
|
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondairy education |
- |
1 |
1 |
|
Higher education
(non |
- |
- |
- |
|
university) |
|
|
|
|
Higher education |
- |
- |
- |
|
(university) |
|
|
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
1 |
1 |
|
Secondairy education |
- |
- |
- |
|
Higher education
(non |
- |
- |
- |
|
university) |
|
|
|
|
Higher education |
- |
- |
- |
|
(university) |
|
|
|
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White collar
worker |
- |
2 |
2 |
|
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 |
- |
- |
- |
|
Industry comparison |
|
|
|
Activity code |
46761 |
|
|
Activity description |
Wholesale of diamonds and
other precious stones |
|
|
Suspension of
payments / moratorium history |
|
|
Amount |
- |
|
Details |
- |
|
Payment expectations |
|
|
Payment
expectation days |
35.43 |
|
Day sales
outstanding |
110.99 |
|
Activity code |
46761 |
|
Activity description |
Wholesale of diamonds and
other precious stones |
|
Industry average
payment |
107.71 |
|
expectation days |
|
|
Industry average
day sales |
171.70 |
|
outstanding |
|
|
Industry quartile
analysis |
|
|
Payment expectations |
|
|
Company result |
35.43 |
|
Lower |
120.34 |
|
Median |
75.64 |
|
Upper |
45.73 |
|
Day sales
outstanding |
|
|
Company result |
110.99 |
|
Lower |
102.84 |
|
Median |
55.21 |
|
Upper |
25.50 |
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
Individual Shareholders
|
Forename |
Mayurkumar |
Middle name |
- |
|
Surname |
Mangukiya |
|
|
|
SHAREHOLDER DETAILS |
|
|
|
|
Start date |
06/01/2010(estimated) |
End date |
- |
|
Percentage owned |
- |
|
|
|
SHAREHOLDER ADDRESS |
|
|
|
|
Street name |
Quinten Matsijslei |
House number |
49A |
|
Minor town |
- |
Postal town |
Antwerpen |
|
Post code |
2018 |
Country |
Belgium |
|
SHAREHOLDER NAME |
|
|
|
|
Forename |
Kishor |
Middle name |
- |
|
Surname |
Kakadia |
|
|
|
SHAREHOLDER DETAILS |
|
|
|
|
Start date |
06/01/2010(estimated) |
End date |
- |
|
Percentage owned |
- |
|
|
|
SHAREHOLDER ADDRESS |
|
|
|
|
Street name |
Van Eycklei |
House number |
24 |
|
Minor town |
- |
Postal town |
Antwerpen |
|
Post code |
2018 |
Country |
Belgium |
|
SHAREHOLDER NAME |
|
|
|
|
Forename |
Rahul |
Middle name |
- |
|
Surname |
Mangukiya |
|
|
|
SHAREHOLDER DETAILS |
|
|
|
|
Start date |
05/07/2012(estimated) |
End date |
- |
|
Percentage owned |
- |
|
|
|
SHAREHOLDER ADDRESS |
|
|
|
|
Street name |
- |
House number |
- |
|
Minor town |
- |
Postal town |
- |
|
Post code |
- |
Country |
India |
Companies that
match this address
no Companies Match this address
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
Current Director Details
|
Position |
Principal Manager |
|
Start Date |
28/09/2004 |
|
Street |
49 QUINTEN MATSIJSLEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
Name |
MAYURKUMAR MANUBHAI MANGUKIYA |
|
Name |
KISHOR KANJIBHAI KAKADIA |
|
Position |
Principal Manager |
|
Start Date |
23/06/2004 |
|
Date of birth |
28/05/1976 |
|
Street |
24 VAN EYCKLEI ANTWERPEN |
|
Post code |
2018 |
|
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.65.39 |
|
|
1 |
Rs.99.05 |
|
Euro |
1 |
Rs.73.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.