MIRA INFORM REPORT

 

 

Report No. :

339689

Report Date :

10.09.2015

 

IDENTIFICATION DETAILS

 

Name :

HRC DIAMONDS BVBA

 

 

Registered Office :

Pelikaanstraat 62 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

12.03.2010

 

 

Com. Reg. No.:

824075475

 

 

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 :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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                                 824075475

Branche Unit Number                           2186406922

Company name                                    HRC DIAMONDS BVBA

Address                                               PELIKAANSTRAAT 62

2018 ANTWERPEN

Number of staff                                    0

Date of establishment                           12/03/2010

Telephone number                               0487939351

Fax number

 

 

Commentary

 

The business was established over 5 years ago.

No employees are recorded for this business.

The business has been at the address for over 5 years.

Operating Result in the latest trading period increased 24% on the previous trading period.

Net Worth increased by 31% during the latest trading period.

A 246% growth in Total Assets occurred during the latest trading period.

Pre-tax profits increased by 25% compared to the previous trading period.

The business saw an increase in their Cash Balance of 339% during the latest trading period.

 

 

Accounts

 

DATE OF LATEST

ACCOUNTS                     

TURNOVER               

PROFIT BEFORE TAX

NET WORTH

31/12/2013                                                              

 

21,110 

67,663

45,618

31/12/2012                                                             

 

16,785

51,571

44,444

31/12/2011                                                              

 

29,453                               

39,906

35,691

 

 

Accounts

 

DATE OF LATEST

BALANCE TOTAL      

NUMBER OF EMPLOYEES

CAPITAL

NET WORTH

31/12/2013                                                              

4,072,986            

0

18,600

18,470

31/12/2012                                                            

1,176,743            

0

18,600

12,821

31/12/2011                                                              

1,133,475            

0

18,600

20,277

 

 

 

Trends

 

Profitability

Liquidity

Net  worth

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

106.56

Industry  average  day  sales

171.54

expectation  days

 

outstanding

 

Day  sales  outstanding

-

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type        no

 

PROTESTED  BILLS

Bill  amount                 -

 

NSSO  DETAILS

Date  of  summons       -

 

 

Company information

 

Business  number

824075475

Company  name

HRC  DIAMONDS  BVBA

Fax  number

-

Date  founded

12/03/2010

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

VAT  Number

BE.0824.075.475  Check  VAT number

 

other  precious  stones

 

 

Belgian  Bullettin  of  Acts Publications

moniteur  belge

 

 

 

 

Contractor  details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

Personnel  (NSSO  classification)

 

Code

-

Description

-

Joint  Industrial  Committee  (JIC)

 

 

 

Company  accounts

 

Assets

 

 

 

 

 

 

 

Annual  accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

Weeks

52

 

52

 

52

 

42

Currency

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

22,045

209

7,127

69.09

4,215

-0.67

4,244

Intangible  fixed  assets

0

-

0

-

0

-

0

Tangible  fixed  assets

21,079

242

6,161

89.64

3,249

-0.88

3,278

Land  &  building

-

-

-

-

-

-

-

Plant  &  machinery

4,134

-32.90

6,161

89.64

3,249

-0.88

3,278

Furniture  &  Vehicles

16,945

-

-

-

-

-

-

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

Financial  fixed  assets

966

0.04

966

-0.04

966

0.04

966

Total  current  assets

4,050,941

246

1,169,616

3.57

1,129,260

183

398,601

Inventories

2,051,196

225

630,685

48.61

424,397

113

198,973

Raw  materials  &  consumables

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

Other  stocks

2,051,196

225

630,685

48.61

424,397

113

198,973

Trade  debtors

1,822,370

268

494,154

-23.41

645,209

625

88,936

Other  amounts  receivable

2,597

-6.12

2,766

-82.75

16,035

18.20

13,567

 

Cash

171,417

339

39,033

 

-6.42

41,709

-56.29

 

95,428

Miscellaneous  current  assets

3,361

12.86

2,978

 

55.92

1,910

12.51

 

1,698

Total  Assets

4,072,986

246

 

1,176,743

3.82

1,133,475

181

 

402,845

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

 

 

67,663

31.20

51,571

29.23

39,906

95.30

20,433

Issued  share  capital

 

 

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

 

 

-

-

-

-

-

-

-

Revaluation  reserve

 

 

-

-

-

-

-

-

-

Reserves

 

 

49,063

48.81

32,971

54.75

21,306

1062

1,833

Provisions  for  Liabilities  &  Charges

 

 

0

-

0

-

0

-

0

Deffered  taxes

 

 

-

-

-

-

-

-

-

Creditors

 

 

4,005,323

255

1,125,172

2.89

1,093,569

185

382,412

Other  long  term  loans

 

 

-

-

-

-

-

-

-

Long  term  group  loans

 

 

-

-

-

-

-

-

-

Other  long  term  liabilities

 

 

0

-

0

-

0

-

0

Total  long  term  debts

 

 

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

 

 

-

-

-

-

-

-

-

Financial  debts

 

 

30,670

21.73

25,195

-

-

-

-

Trade  creditors

 

 

3,197,754

987

294,097

-69.24

956,061

270

257,797

 

Amounts  Payable  for  Taxes,  Remuneration  &  Social  Security

 

15,948

47.17

10,837

8.26

10,010

743

1,186

Miscellaneous  current  liabilities

 

 

760,951

-4.29

795,043

523

127,498

3.30

123,428

Total  current  liabilities

 

 

4,005,323

255

1,125,172

2.89

1,093,569

185

382,412

Total  Liabilities

 

 

4,072,986

246

1,176,743

3.82

1,133,475

181

402,845

 

ratio  analysis

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

Return  on  capital  employed

31.20

-4.15

32.55

-55.90

73.81

507

12.14

Return  on  total  assets  employed

0.52

-63.64

1.43

-45.00

2.60

319

0.62

Return  on  net  assets  employed

31.20

-4.15

32.55

-55.90

73.81

507

12.14

Sales  /  net  working  capital

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

Current  ratio

1.01

-2.88

1.04

0.97

1.03

-0.96

1.04

Liquidity  ratio  /  acid  ratio

0.50

4.17

0.48

-25.00

0.64

23.08

0.52

Current  debt  ratio

59.20

171

21.82

-20.36

27.40

46.45

18.71

Liquidity  ratio  reprocessed

-

-

-

-

-

 

-

Cashflow

18,470

44.06

12,821

-36.77

20,277

815

2,215

Net  worth

67,663

31.20

51,571

29.23

39,906

95.30

20,433

LONG  TERM  STABILITY

 

 

 

 

 

 

 

Gearing

45.33

-7.21

48.85

-

-

 

-

Equity  in  percentage

1.66

-62.10

4.38

24.43

3.52

-30.57

5.07

Total  debt  ratio

59.20

171

21.82

-20.36

27.40

46.45

18.71

Working  capital

45,618

2.64

44,444

24.52

35,691

120

16,190

 

 

Profit  &  loss

 

 

 

 

 

 

 

 

Operating  Income

 

-

-

-

-

-

-

-

Turnover

 

-

-

-

-

-

-

-

Total  operating  expenses

 

-

-

-

-

-

-

-

Gross  Operating  Margin

 

30,932

28.73

24,029

-30.99

34,820

575

5,155

Operating  Charges

 

-

-

-

-

-

-

-

Employee  costs

 

3

-

-

-

-

-

-

Wages  and  salary

 

-

-

-

-

-

-

-

Employee  pension  costs

 

-

-

-

-

-

-

-

Social  security  contributions

 

-

-

-

-

-

-

-

Other  employee  costs

 

3

-

0

-

0

-

0

Director  remuneration

 

-

-

-

-

-

-

-

Amortization  and  depreciation

 

2,378

105

1,156

43.81

804

110

382

Operating  result

 

25,907

24.72

20,773

-37.61

33,295

854

3,487

Total  financial  income

 

77

-91.11

866

2121

39

-

-

Total  financial  expenses

 

4,874

0.42

4,854

25.06

3,881

285

1,006

Results  on  ordinary  operations  before  taxation

 

21,110

25.76

16,785

-43.01

29,453

1087

2,480

Extraordinary  Income

 

-

-

-

-

-

-

-

Extraordinary  Charges

 

-

-

-

-

-

-

-

Extraordinary  items

 

0

-

0

-

0

-

0

Results  for  the  Year  Before  Taxation

 

21,110

25.76

16,785

-43.01

29,453

1087

2,480

Other  appropriations

 

-

-

-

-

-

-

-

Taxation

 

5,018

-2.00

5,121

-48.69

9,980

1442

647

Results  on  ordinary  operations  after  taxation

 

16,092

37.95

11,665

-40.10

19,473

962

1,833

Net  result

 

16,092

37.95

11,665

-40.10

19,473

962

1,833

Profit  (Loss)  for  the  Year  to  be  appropiated

16,092

37.95

11,665

-40.10

19,473

962

1,833

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

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  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

 

 

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

106.56

Industry  average  day  sales outstanding

171.54

 

 

Industry  quartile  analysis

Payment  expectations

Company  result

-

Lower

120.34

Median

75.65

Upper

45.88

 

Day  sales  outstanding

 

Company  result

-

Lower

102.70

Median

55.01

Upper

25.25

 

 

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

 

Position

Principal  Manager

Start  Date

12/12/2012

Street

50 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

SHREYAS  DINESHCHANDRA  GANDHI

 

Former  director  details


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.29

UK Pound

1

Rs.101.89

Euro

1

Rs.73.98

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TRU

 

               

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.