MIRA INFORM REPORT

 

 

Report No. :

340500

Report Date :

11.09.2015

 

IDENTIFICATION DETAILS

 

Name :

SHAINYDIAM  BVBA

 

 

Registered Office :

Hoveniersstraat  2-Bus  211, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

21.12.1982

 

 

Com. Reg. No.:

423522982

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

WHOLESALE OF DIAMONDS AND OTHER PRECIOUS STONES.

 

 

No. of Employees :

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 :

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

423522982

Branche  Unit  Number

2021808810

Company  name

SHAINYDIAM  BVBA

Address

HOVENIERSSTRAAT  2-BUS  211

 

2018 ANTWERPEN

Number  of  staff

1

Date  of  establishment

21/12/1982

Telephone  number

037272890

Fax  number

032260247

 

 

Commentary

 

The business was established over 32 years ago.

The business has 1 employees.

The business has been at the address for over 9 years.

Pre-tax profits decreased by 29% compared to the previous trading period.

The business saw an increase in their Cash Balance of 344% during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST 

ACCOUNTS

TURNOVER

PROFIT  BEFORE  T

AX

NET  WORTH

WORKING  CAPITAL

31/12/2013

73,977,551

148,318

4,951,211

6,146,237

31/12/2012

81,399,726

210,356

4,910,986

6,126,548

31/12/2011

75,045,426

208,383

4,851,550

6,057,511

Accounts

 

 

 

 

DATE  OF  LATEST 

ACCOUNTS

BALANCE  TOTAL

NUMBER  OF 

EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

16,272,374

1

18,600

160,641

31/12/2012

20,097,262

1

18,600

212,044

31/12/2011

17,159,074

1

18,600

213,819

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

15.67

Industry  average  payment

expectation  days

126.16

Industry  average  day  sales

outstanding

184.04

Day  sales  outstanding

57.45

 

 

 

 

Court data Summary

 

BANKRUPTCY DETAILS

Court action type                      no

PROTESTED BILLS

Bill amount                              -

NSSO DETAILS

Date of summons                     -

 

 

Company Information

 

Business  number

423522982

Company  name

SHAINYDIAM  BVBA

Fax  number

032260247

Date  founded

21/12/1982

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.0423.522.982  Check 

VAT number

Belgian  Bullettin  of  Acts

Publications

moniteur  belge

 

 

 

 

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

428,191

-6.16

456,296

-6.50

488,042

111

230,432

-12.85

264,394

Intangible  fixed  assets

0

-

0

-

0

-100

384

-78.08

1,750

Tangible  fixed  assets

427,559

-6.17

455,664

-6.51

487,410

112

229,417

-12.44

262,012

Land  &  building

404,442

-5.33

427,221

-5.06

450,000

147

181,639

-11.14

204,417

Plant  &  machinery

19,692

-24.18

25,971

-20.16

32,527

-18.00

39,666

-10.27

44,206

Furniture  &  Vehicles

3,424

38.51

2,472

-49.38

4,883

-39.81

8,112

-39.41

13,389

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

632

0

632

0

632

0

632

0.02

632

Total  current  assets

15,844,184

-19.33

19,640,966

17.81

16,671,032

-6.41

17,812,727

-9.57

19,696,801

Inventories

3,179,660

-7.41

3,434,004

-17.68

4,171,681

43.61

2,904,945

-56.06

6,610,889

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

2,615,392

0.17

2,611,080

-22.04

3,349,135

71.01

1,958,412

-67.21

5,972,433

Other  stocks

564,267

-31.43

822,924

0.05

822,546

-13.10

946,534

48.25

638,456

Trade  debtors

11,644,086

-24.52

15,427,045

48.78

10,368,930

-26.35

14,078,478

15.48

12,191,495

Other  amounts  receivable

520,940

-21.55

664,024

-8.57

726,237

48.06

490,517

15.05

426,350

Cash

486,054

344

109,413

-92.17

1,397,752

322

331,164

-28.15

460,933

Miscellaneous  current  assets

13,445

107

6,480

0.75

6,432

-15.62

7,623

6.85

7,134

Total  Assets

16,272,374

-19.03

20,097,262

17.12

17,159,074

-4.90

18,043,159

-9.61

19,961,195

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

4,951,211

0.82

4,910,986

1.23

4,851,550

7.86

4,497,856

7.03

4,202,253

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

291,140

0

291,140

0

291,140

-

-

-

-

Reserves

4,641,471

0.87

4,601,246

1.31

4,541,810

1.40

4,479,256

7.07

4,183,653

Provisions  for  Liabilities  & Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

11,321,163

-25.45

15,186,276

23.39

12,307,524

-9.14

13,545,303

-14.05

15,758,942

Other  long  term  loans

1,623,216

-2.91

1,671,858

-1.31

1,694,003

2.19

1,657,730

5.10

1,577,323

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

1,623,216

-2.91

1,671,858

-1.31

1,694,003

2.19

1,657,730

5.10

1,577,323

Current  portion  of  long  term  debt

-

-

-

-

-

-

-

-

-

Financial  debts

6,365,145

-21.13

8,070,784

48.52

5,434,285

-8.68

5,950,915

-1.95

6,069,059

Trade  creditors

3,151,720

-39.68

5,224,882

8.34

4,822,750

-13.92

5,602,389

-29.54

7,951,078

Amounts  Payable  for  Taxes, Remuneration  &  Social  Security

13,085

-17.65

15,888

-89.35

149,216

6.21

140,497

1013

12,622

Miscellaneous  current  liabilities

167,997

-17.19

202,864

-2.13

207,270

6.97

193,772

30.17

148,860

Total  current  liabilities

9,697,947

-28.24

13,514,418

27.33

10,613,521

-10.72

11,887,573

-16.18

14,181,619

Total  Liabilities

16,272,374

-19.03

20,097,262

17.12

17,159,074

-4.90

18,043,159

-9.61

19,961,195

 

 

Ratio Analysis

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.20

-23.08

0.26

-7.14

0.28

-63.64

0.77

140

0.32

Return  on  capital  employed

2.26

-29.38

3.20

0.63

3.18

-64.75

9.02

158

3.49

Return  on  total  assets  employed

0.91

-13.33

1.05

-13.22

1.21

-60.71

3.08

204

1.01

Return  on  net  assets  employed

3.00

-29.91

4.28

-0.47

4.30

-65.15

12.34

157

4.80

Sales  /  net  working  capital

12.04

-9.41

13.29

7.26

12.39

1.31

12.23

6.91

11.44

Stock  turnover  ratio

4.30

1.90

4.22

-24.10

5.56

38.65

4.01

-61.74

10.48

Creditor  days

15.67

-33.66

23.62

0.04

23.61

-17.39

28.58

-38.31

46.33

Debtor  days

57.45

-16.96

69.18

37.18

50.43

-28.91

70.94

0.61

70.51

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.63

12.41

1.45

-7.64

1.57

4.67

1.50

7.91

1.39

Liquidity  ratio  /  acid  ratio

1.31

9.17

1.20

1.69

1.18

-5.60

1.25

35.87

0.92

Current  debt  ratio

1.96

-28.73

2.75

25.57

2.19

-17.05

2.64

-21.66

3.37

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

160,641

-24.24

212,044

-0.83

213,819

-51.41

440,022

105

213,938

Net  worth

4,951,211

0.82

4,910,986

1.23

4,851,550

7.87

4,497,472

7.07

4,200,503

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

161.34

-18.67

198.38

35.02

146.93

-13.14

169.16

-7.03

181.96

Equity  in  percentage

30.43

24.51

24.44

-13.55

28.27

13.40

24.93

18.43

21.05

Total  debt  ratio

2.29

-25.89

3.09

21.65

2.54

-15.61

3.01

-19.73

3.75

Working  capital

6,146,237

0.32

6,126,548

1.14

6,057,511

2.23

5,925,154

7.43

5,515,182

 

 

PROFIT AND LOSS

 

Operating  Income

74,133,785

-9.14

81,595,327

8.48

75,216,495

3.57

72,626,340

14.81

63,257,650

Turnover

73,977,551

-9.12

81,399,726

8.47

75,045,426

3.60

72,441,003

14.79

63,110,105

Total  operating  expenses

73,413,493

-9.07

80,733,257

8.29

74,550,829

4.21

71,537,268

14.21

62,635,556

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

73,569,726

-9.09

80,928,858

8.31

74,721,898

4.18

71,722,605

14.24

62,783,102

Employee  costs

85,266

1.75

83,796

2.79

81,520

3.88

78,474

-1.60

79,750

Wages  and  salary

67,167

2.35

65,625

3.48

63,419

3.74

61,131

-1.63

62,145

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

13,919

-4.42

14,562

3.07

14,129

4.22

13,557

-3.11

13,993

Other  employee  costs

4,179

15.82

3,609

-9.17

3,973

4.92

3,786

4.80

3,613

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

30,416

-6.72

32,608

-10.08

36,265

-8.00

39,419

-0.80

39,739

Operating  result

564,059

-15.37

666,469

34.75

494,597

-45.27

903,735

90.44

474,549

Total  financial  income

13,823

-

-

-

9,034

34889

26

-99

2,769

Total  financial  expenses

429,564

-5.82

456,114

54.48

295,248

-15.35

348,799

26.49

275,753

Results  on  ordinary  operations before  taxation

148,318

-29.49

210,356

0.95

208,383

-62.45

554,961

175

201,565

Extraordinary  Income

3,500

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

178

-

-

Extraordinary  items

3,500

-

0

-

0

0

-178

-

0

Results  for  the  Year  Before Taxation

151,818

-27.83

210,356

0.95

208,383

-62.44

554,784

175

201,565

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

21,592

-30.17

30,920

0.30

30,829

-80.00

154,181

463

27,366

Results  on  ordinary  operations after  taxation

126,726

-29.38

179,436

1.06

177,554

-55.70

400,780

130

174,199

Net  result

130,226

-27.42

179,436

1.06

177,554

-55.68

400,603

129

174,199

Profit  (Loss)  for  the  Year  to  be appropiated

130,226

-27.42

179,436

1.06

177,554

-55.68

400,603

129

174,199

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year ended  31-12-2013

 

 

 

 

 

 

 

Full-time  Employees

 

1

 

Part-time  Employees

 

1

 

Total  Fte  Employees

 

2

 

 

 

 

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

1,763

 

Part-time  Employees

 

1,395

 

Total

 

3,158

 

 

 

 

 

Personnel  Charges

 

 

 

Full-time  Employees

 

-

 

Part-time  Employees

 

-

 

Total

 

85,266

 

Benefits  In  Addition  To  Wages

 

-

 

 

 

 

 

During  the  previous  reporting  year  Average  number  employees  in  Fte

 

2

 

Actual  working  hours

 

3,189

 

Personnel  Charges

 

85,266

 

 Benefits  In  Addition  To  Wages

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

1

1

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

-

-

-

Higher  education  (non university)

-

-

-

Higher  education(university)

-

-

-

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

1

1

2

Higher  education  (non university)

-

-

-

Higher  education(university)

-

-

-

 

 

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

1

1

2

Blue  collar  worker

-

-

-

Other

-

-

-

 

 

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

15.67

Day  sales  outstanding

57.45

 

 

Industry comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

expectation  days

126.16

Industry  average  day  sales

outstanding

184.04

 

 

Industry quartile analysis

Payment  expectations

 

Company  result

15.67

Lower

118.32

Median

74.35

Upper

45.49

 

 

Day  sales  outstanding

 

Company  result

57.45

Lower

102.27

Median

54.07

Upper

24.31

 

 

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

 

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

NIRAL  SHAILESH  MEHTA

Position

Principal  Manager

Start  Date

09/08/2012

Street

12 QUELLINSTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

Name

SHISHIR  MEHTA

Position

Principal  Manager

Start  Date

09/08/2012

Street

1002 DUBAI  MARINA  10TH  FLOOR  -  FLAT

Post  code

392

Country

United  Arab  Emirates

 

 

Former  director  details

 

Name

BMS  BEHEER  CVBA

Position

Commissioner

Start  Date

30/05/2011

End  Date

31/12/2011

Date  of  birth

02/03/1988

Street

478 HERENTALSEBAAN  ANTWERPEN

Post  code

2100

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.58

UK Pound

1

Rs.102.29

Euro

1

Rs.74.71

 

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.