MIRA INFORM REPORT

 

 

Report No. :

502959

Report Date :

10.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ROSEDIAM  BVBA

 

 

Registered Office :

Hoveniersstraat  2-Bus  127 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

23.10.1985

 

 

Legal Form :

Private  limited  liability company

 

 

Line of Business :

Wholesale of diamonds and other precious stones

 

 

No. of Employees :

1

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

BELGIUM - ECONOMIC OVERVIEW

 

Belgium’s central geographic location and highly developed transport network have helped develop a well-diversified economy, with a broad mix of transport, services, manufacturing, and high tech. Service and high-tech industries are concentrated in the northern Flanders region while the southern region of Wallonia is home to industries like coal and steel manufacturing. Belgium is completely reliant on foreign sources of fossil fuels, and the planned closure of its seven nuclear plants by 2025 should increase its dependence on foreign energy. Its role as a regional logistical hub makes its economy vulnerable to shifts in foreign demand, particularly with EU trading partners. Roughly three-quarters of Belgium's trade is with other EU countries, and the port of Zeebrugge conducts almost half its trade with the United Kingdom alone, leaving Belgium’s economy vulnerable to the outcome of negotiations on the UK’s exit from the EU.

Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Unemployment stood at 7.3%, however the unemployment rate is lower in Flanders than Wallonia, 4.4% compared to 9.4%, because of industrial differences between the regions. The economy largely recovered from the March 2016 terrorist attacks that mainly impacted the Brussels region tourist and hospitality industry. Prime Minister Charles MICHEL's center-right government has pledged to further reduce the deficit in response to EU pressure to decrease Belgium's high public debt of about 104% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and higher inflation promise to curtail a more robust recovery in private consumption.

The government has pledged to pursue a reform program to improve Belgium’s competitiveness, including changes to labor market rules and welfare benefits. These changes have generally made Belgian wages more competitive regionally, but risk worsening tensions with trade unions and triggering extended strikes. In 2017, Belgium approved a tax reform plan to ease corporate rates from 33% to 29% by 2018 and down to 25% by 2020. The tax plan also included benefits for innovation and SMEs, intended to spur competitiveness and private investment.

 

Source : CIA

 

Company  summary                       

 

Business  number

427999929

Branche  Unit  Number

2028786672

Company  name

ROSEDIAM  BVBA

Address

HOVENIERSSTRAAT  2-BUS  127

 

2018 ANTWERPEN

Date  of  establishment

23/10/1985

Telephone  number

3232342475

Mobile  number

-

Fax  number

032261908

Liable  for  VAT

yes

VAT  Number

BE.0427.999.929  Check  VAT  number

 

 

Commentary

 

The  business  was  established  over  32  years  ago.

The  business  has  1  employees.

The  business  has  been  at  the  address  for  over  20  years.

Pre-tax  profits  decreased  by  65%  compared  to  the  previous  trading  period.

The  business  saw  an  increase  in  their  Cash  Balance  of  367%  during  the  latest  trading  period.

 

 

Annual  accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/03/2017

67,020,340

41,883

5,025,416

9,232,735

31/03/2016

68,851,504

120,220

5,018,299

8,932,633

31/03/2015

58,387,336

104,124

4,254,771

9,099,887

 

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/03/2017

25,763,401

1

4,284,812

22,202

31/03/2016

26,577,239

1

4,284,812

112,698

31/03/2015

30,377,161

2

3,617,256

115,421

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

35.60

Industry  average  payment

202.01

Industry  average  day  sales

210.87

expectation  days

 

outstanding

 

Day  sales  outstanding

102.69

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

 

PROTESTED  BILLS

Bill  amount

-

 

NSSO  DETAILS     

Date  of  summons

-

 

 

Company  information 

 

Business  number

427999929

Company  name

ROSEDIAM  BVBA

Fax  number

032261908

Date  founded

23/10/1985

Company  status

active

Company  type

Private  limited  liability

 

 

 

company

Currency

Euro  (€)

Date  of  latest  accounts

31/03/2017

Activity  code

46761

Number  of  staff

1

Activity  description

Wholesale  of  diamonds  and 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)

 

JIC  Code

200

Description

Additional  joint  committee  for  the  employees

category

 

JIC  Code

218

Description

Additional  national  joint  committee  for  the  employees

category

 

JIC  Code

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

Significant  Events

 

Event  Date

20/09/2013

Event  Description

 

Event  Details

De  heer  Sanghvi  Jitendrakumar  Devichandji  schrijft  in  op  de  643  nieuwe  aandelen.

 

 

Company  accounts

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-03-2017

%

31-03-2016

%

31-03-2015

%

31-03-2014

%

31-03-2013

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

375,975

-3.49

389,574

-4.12

406,301

-3.68

421,830

-0.57

424,235

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

371,996

-3.53

385,596

-4.16

402,323

-3.66

417,628

-0.57

420,033

Land  &  building

347,442

-2.20

355,254

-2.15

363,066

-2.11

370,878

-2.06

378,690

Plant  &  machinery

24,523

-18.96

30,258

-22.63

39,108

-15.82

46,454

13.81

40,818

Furniture  &  Vehicles

31

-62.52

83

-44.01

149

-49.68

296

-43.72

525

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

3,979

0

3,979

0

3,979

-5.31

4,202

0

4,202

Total  current  assets

25,387,426

-3.06

26,187,665

-12.62

29,970,860

39.06

21,552,706

-13.60

24,945,415

Inventories

5,672,189

-6.07

6,038,502

-33.35

9,059,856

27.32

7,115,607

-21.26

9,037,350

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

5,672,189

-6.07

6,038,502

-33.35

9,059,856

27.32

7,115,607

-21.26

9,037,350

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

18,856,231

-5.29

19,909,475

-3.94

20,725,720

45.38

14,256,033

-9.88

15,818,915

Other  amounts  receivable

806,400

257

225,650

37.71

163,862

7.58

152,315

1318

10,735

Cash

30,977

367

6,627

303

1,641

-93.12

23,854

-58.46

57,428

Miscellaneous  current  assets

21,628

191

7,411

-62.53

19,780

303

4,896

-76.67

20,987

Total  Assets

25,763,401

-3.06

26,577,239

-12.51

30,377,161

38.24

21,974,536

-13.38

25,369,650

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

5,025,416

0.14

5,018,299

17.95

4,254,771

2.36

4,156,646

85.93

2,235,601

Issued  share  capital

4,284,812

0

4,284,812

18.45

3,617,256

0

3,617,256

19347

18,600

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-100

226,715

Reserves

740,603

0.97

733,486

15.05

637,515

18.19

539,390

-72.90

1,990,286

Provisions  for  Liabilities  &

0

-

0

-

0

-

0

-

0

Charges

 

 

 

 

 

 

 

 

 

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

20,737,985

-3.81

21,558,941

-17.47

26,122,390

46.61

17,817,890

-22.98

23,134,049

Other  long  term  loans

4,583,294

6.49

4,303,909

-18.04

5,251,417

122

2,357,122

-

0

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

4,583,294

6.49

4,303,909

-18.04

5,251,417

122

2,357,122

-

0

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

8,259,023

23.57

6,683,804

-1.25

6,768,713

43.48

4,717,483

-49.48

9,337,339

Trade  creditors

6,472,797

-37.87

10,417,619

-25.31

13,947,320

48.81

9,372,454

-23.90

12,315,366

Amounts  Payable  for  Taxes,

104,230

106

50,418

126

22,221

-23.39

29,004

3.03

28,151

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

1,318,640

1177

103,191

-22.25

132,718

-90.11

1,341,827

-7.66

1,453,193

Total  current  liabilities

16,154,690

-6.38

17,255,032

-17.33

20,870,973

34.99

15,460,768

-33.17

23,134,049

Total  Liabilities

25,763,401

-3.06

26,577,239

-12.51

30,377,161

38.24

21,974,536

-13.38

25,369,650

 

 

Ratio  analysis

                                                                                                                                                               

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.06

-64.71

0.17

-5.56

0.18

63.64

0.11

0

0.11

Return  on  capital  employed

0.44

-65.89

1.29

17.27

1.10

23.60

0.89

-70.03

2.97

Return  on  total  assets  employed

0.16

-64.44

0.45

32.35

0.34

30.77

0.26

0

0.26

Return  on  net  assets  employed

0.83

-65.42

2.40

-2.04

2.45

76.26

1.39

-53.20

2.97

Sales  /  net  working  capital

7.26

-5.84

7.71

20.09

6.42

-27.38

8.84

-72.54

32.19

Stock  turnover  ratio

8.46

-3.53

8.77

-43.49

15.52

17.49

13.21

-14.77

15.50

Creditor  days

35.60

-36.18

55.78

-36.66

88.06

37.64

63.98

-17.68

77.72

Debtor  days

102.69

-2.71

105.55

-18.53

129.56

34.15

96.58

-2.48

99.04

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.57

3.29

1.52

5.56

1.44

3.60

1.39

28.70

1.08

Liquidity  ratio  /  acid  ratio

1.22

4.27

1.17

17.00

1.00

7.53

0.93

34.78

0.69

Current  debt  ratio

3.21

-6.69

3.44

-29.94

4.91

31.99

3.72

-64.06

10.35

Cashflow

22,202

-80.30

112,698

-2.36

115,421

76.62

65,351

-3.25

67,547

Net  worth

5,025,416

0.14

5,018,299

17.95

4,254,771

2.36

4,156,646

85.93

2,235,601

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

255.55

16.72

218.95

-22.50

282.51

65.99

170.20

-59.25

417.67

Equity  in  percentage

19.51

3.34

18.88

34.76

14.01

-25.95

18.92

114

8.81

Total  debt  ratio

4.13

-3.95

4.30

-29.97

6.14

43.12

4.29

-58.55

10.35

Working  capital

9,232,735

3.36

8,932,633

-1.84

9,099,887

49.38

6,091,938

236

1,811,366

 

Profit  &  loss      

                                                                                                                                            

Operating  Income

67,021,828

-2.66

68,853,725

17.92

58,389,519

8.37

53,879,312

-7.58

58,300,755

Turnover

67,020,340

-2.66

68,851,504

17.92

58,387,336

8.37

53,878,157

-7.58

58,299,303

Total  operating  expenses

66,356,253

-2.66

68,172,091

17.92

57,812,875

8.12

53,471,386

-7.54

57,833,605

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

67,021,828

-1.69

68,174,312

17.92

57,815,058

8.12

53,472,540

-7.54

57,835,057

Employee  costs

28,386

-57.49

66,775

11.71

59,774

10.69

54,002

36.45

39,578

Wages  and  salary

24,887

-53.92

54,010

15.97

46,573

5.52

44,135

32.49

33,312

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

2,513

-77.58

11,211

0.53

11,152

27.72

8,732

84.72

4,727

Other  employee  costs

986

-36.57

1,555

-24.11

2,048

80.42

1,135

-26.19

1,538

Director  remuneration

110,402

-27.65

152,604

-0.80

153,833

0.61

152,898

25.20

122,126

Amortization  and  depreciation

15,085

-9.82

16,727

-3.29

17,296

8.20

15,984

7.67

14,845

Operating  result

664,087

-2.26

679,413

18.27

574,461

41.22

406,772

-12.65

465,698

Total  financial  income

895

-67.06

2,717

952

258

2559

10

-99

1,513

Total  financial  expenses

623,099

10.89

561,911

19.40

470,596

34.80

349,106

-12.91

400,875

Results  on  ordinary  operations

41,883

-65.16

120,220

15.46

104,124

80.53

57,675

-13.06

66,336

before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

-

-

-

-

-

-

-

-

4,959

Extraordinary  Charges

-

-

-

-

-

-

-

-

4,403

Extraordinary  items

-

-

-

-

-

-

-

-

555

Results  for  the  Year  Before Taxation

41,883

-65.16

120,220

15.46

104,124

80.53

57,675

-13.78

66,892

Taxation

34,766

43.37

24,249

304

5,998

-27.81

8,309

-41.45

14,190

Results  on  ordinary  operations after  taxation

7,117

-92.58

95,971

-2.20

98,125

98.77

49,367

-5.33

52,146

Net  result

7,117

-92.58

95,971

-2.20

98,125

98.77

49,367

-6.33

52,702

Profit  (Loss)  for  the  Year  to  be appropiated

7,117

-92.58

95,971

-2.20

98,125

98.77

49,367

-6.33

52,702

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social  Balance  Sheet  Details

                                                                                                                                 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-03-2017

 

Full-time  Employees

0

Part-time  Employees

1

Total  Fte  Employees

1

Number  of  hours  worked

 

Full-time  Employees

562

Part-time  Employees

1,347

Total

1,909

Personnel  Charges

 

Full-time  Employees

8,681

Part-time  Employees

19,705

Total

28,386

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

1

Actual  working  hours

2,633

Personnel  Charges

66,775

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

1

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

-

1

1

Secondairy  education

-

-

-

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

1

1

2

Secondairy  education

-

-

-

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

1

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

1

1

2

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  

 

Payment  Information  Summary

 

Total  number  of  Invoices  available

2

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

0

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

2

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

0

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

0

 

Suspension  of  payments  /  moratorium  history

Amount

-

Details

-

 

Payment  expectations          

Payment  expectation  days

35.60

Day  sales  outstanding

102.69

 

Industry  comparison            

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

202.01

expectation  days

 

Industry  average  day  sales

210.87

outstanding

 

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

35.60

Lower

132.04

Median

58.70

Upper

25.82

 

Day  sales  outstanding

Company  result

102.69

Lower

136.36

Median

81.15

Upper

44.21

 

 

 

 

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

 

Individual  Shareholders

SHAREHOLDER  NAME

Forename

Jitendrakumar

Middle  name

-

Surname

Sanghvi

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

14/10/2013(estimated)

End  date

-

Percentage  owned

-

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

-

House  number

-

Postal  town

-

 

 

Post  code

-

Country

India

 

 

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

Manager

Start  Date

01/09/2004

Street

14 QUINTEN  MATSIJSLEI  Antwerpen

Post  code

2018

Country

Belgium

Name

Anilkumar  Sanghvi

Name

Rajendrakumar  Jain

Position

Manager

Start  Date

26/06/1998

Street

35 QUINTEN  MATSIJSLEI  Antwerpen

Post  code

2018

Country

Belgium

Name

Ashokkumar  Kankariya

Position

Manager

Start  Date

28/07/1990

Street

96 BELGIELEI  Antwerpen

Post  code

2018

Country

Belgium

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.93

UK Pound

1

INR 91.50

Euro

1

INR 79.69

Euro

1

INR 79.90

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

TRU

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.