MIRA INFORM REPORT

 

 

Report No. :

502788

Report Date :

10.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SANKALP DIAM BVBA

 

 

Registered Office :

Hoveniersstraat 30-Bus 222, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2015

 

 

Date of Incorporation :

06.02.2002

 

 

Com. Reg. No.:

476926333

 

 

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 :

B

 

Credit Rating

Explanation

 

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

 

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

 

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 NAME

 

SANKALP DIAM BVBA

 

 

COMPANY SUMMARY

 

Business Number

476926333

Branche Unit Number

2101710183

Company  name

SANKALP  DIAM  BVBA

Address

HOVENIERSSTRAAT  30-BUS  222

2018 ANTWERPEN

Safe  number

BE00484935

Date  of  establishment

06/02/2002

Telephone  number

3232956990

Mobile  number

-

Fax  number

034752302

Liable  for  VAT

Yes

VAT  Number

BE.0476.926.333  Check  VAT  number

 

 

COMMENTARY

 

The business was established over 16 years ago.

The business has 1 employees.

The business has been  at  the  address  for  over  12  years. Operating Result in the latest trading period decreased 21% on the previous trading period. A 54% growth in Total Assets occurred during the latest trading period.

Turnover in the latest trading period increased 47% on the previous trading period.

 

 

ANNUAL ACCOUNTS

 

DATE  OF  LATEST 

ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2015

26,532,117

70,576

253,133

212,919

31/12/2014

17,975,927

82,437

213,526

195,414

31/12/2013

13,105,699

26,164

149,783

122,855

Accounts

 

 

 

 

DATE  OF  LATEST 

ACCOUNTS

BALANCE  TOTAL

NUMBER  OF 

EMPLOYEES

CAPITAL

CASHFLOW

31/12/2015

8,184,416

1

18,600

57,580

31/12/2014

5,290,856

1

18,600

80,721

31/12/2013

4,319,904

-

18,600

38,838

 

 

PAYMENT EXPECTATIONS

 

Past  payments

 

Payment  expectation  days

84.92

Industry  average  payment

expectation days

202.01

Industry  average  day  sales outstanding

210.87

Day  sales  outstanding

93.92

 

 

 

 

COURT DATA SUMMARY

 

BANKRUPTCY DETAILS

 

Court Action Type

no

 

PROTESTED BILLS

 

Bill Amount

-

 

NSSO DETAILS

 

Date  of  summons

-

 

 

Company information

 

Business Number

476926333

Company name

SANKALP DIAM BVBA

Fax Number

034752302

Date founded

06/02/2002

Company Status

active

Company type

Private Limited Liability Company

Currency

Euro  (€)

Date of latest accounts

31/12/2015

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

218

Description

Additional  national  joint  committee  for  the  employees

category

 

 

 

Significant  Events

 

Event  Date

06/02/2002

Event  Description

Legal  creation

Event  Details

 

 

 

COMPANY ACCOUNTS

 

ASSETS

 

Annual  accounts

31-12-2015

%

31-12-2014

%

31-12-2013

%

31-12-2012

%

31-12-2011

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

75,541

20.69

62,592

-21.93

80,171

-7.98

87,128

-7.38

94,072

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

74,441

21.06

61,493

-22.23

79,071

-8.09

86,028

-7.47

92,972

Land  &  building

41,912

-18.52

51,437

-15.62

60,962

-13.51

70,487

-11.90

80,013

Plant  &  machinery

32,530

225

10,007

-44.29

17,961

88.25

9,541

1713

526

Furniture  &  Vehicles

0

-100

49

-66.85

148

-97.53

6,000

-51.74

12,433

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

1,100

0

1,100

0

1,100

0

1,100

0

1,100

Total  current  assets

8,108,875

55.10

5,228,264

23.32

4,239,733

5.06

4,035,369

-19.24

4,996,651

Inventories

1,146,305

-48.46

2,224,297

16.63

1,907,119

8.63

1,755,639

67.48

1,048,279

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

1,146,305

-48.46

2,224,297

58.59

1,402,540

-20.11

1,755,639

-

0

Other  stocks

0

-

0

-100

504,579

-

0

-100

1,048,279

Trade  debtors

6,827,265

139

2,852,443

26.14

2,261,383

9.15

2,071,735

-47.05

3,912,895

Other  amounts  receivable

7,171

121

3,243

-89.47

30,796

10999

277

-84.27

1,764

Cash

126,759

-13.60

146,710

285

38,094

-81.50

205,860

526

32,877

Miscellaneous  current  assets

1,375

-12.41

1,570

-32.94

2,341

26.02

1,858

121

837

Total  Assets

8,184,416

54.69

5,290,856

22.48

4,319,904

4.79

4,122,497

-19.02

5,090,723

 

 

LIABILITIES

 

Total  shareholders  equity

253,133

18.55

213,526

42.56

149,783

14.19

131,167

22.63

106,960

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

234,533

20.32

194,926

48.59

131,183

16.54

112,567

27.40

88,360

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

7,931,283

56.21

5,077,330

21.75

4,170,121

4.48

3,991,330

-19.91

4,983,763

Other  long  term  loans

35,328

-20.58

44,480

-16.46

53,243

-18.95

65,695

-15.28

77,546

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

35,328

-20.58

44,480

-16.46

53,243

-18.95

65,695

-15.28

77,546

Current  portion  of  long  term  debt

9,152

4.43

8,763

-29.62

12,452

5.07

11,851

5.08

11,278

Financial  debts

0

-

0

-100

60,765

10787

558

-89.17

5,154

Trade  creditors

6,111,448

80.92

3,377,975

0.21

3,370,763

4.82

3,215,818

-22.98

4,175,524

Amounts Payable for Taxes, Remuneration & Social Security

20,000

4.20

19,193

143

7,895

-15.98

9,397

75.57

5,352

Miscellaneous  current  liabilities

1,755,356

7.89

1,626,919

144

665,004

-3.34

688,011

-2.95

708,908

Total  current  liabilities

7,895,956

56.89

5,032,850

22.25

4,116,878

4.87

3,925,635

-19.99

4,906,217

Total  Liabilities

8,184,416

54.69

5,290,856

22.48

4,319,904

4.79

4,122,497

-19.02

5,090,723

 

 

RATIO ANALYSIS

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.27

-41.30

0.46

130

0.20

-20.0

0.25

-

-

Return  on  capital  employed

24.47

-23.41

31.95

147

12.89

-18.93

15.90

84.03

8.64

Return  on  total  assets  employed

0.86

-44.87

1.56

155

0.61

-19.74

0.76

145

0.31

Return  on  net  assets  employed

27.88

-27.79

38.61

121

17.47

-26.81

23.87

60.09

14.91

Sales  /  net  working  capital

124.61

35.46

91.99

-13.77

106.68

-7.21

114.97

-

-

Stock  turnover  ratio

4.32

-65.08

12.37

-14.98

14.55

4.53

13.92

-

-

Creditor  days

84.92

21.51

69.89

-25.41

93.70

1.07

92.71

-

-

Debtor  days

93.92

62.15

57.92

-8.03

62.98

5.07

59.94

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.03

-0.96

1.04

0.97

1.03

0

1.03

0.98

1.02

Liquidity  ratio  /  acid  ratio

0.88

46.67

0.60

5.26

0.57

-1.72

0.58

-27.50

0.80

Current  debt  ratio

31.19

32.33

23.57

-14.26

27.49

-8.15

29.93

-34.75

45.87

Cashflow

57,580

-28.67

80,721

107

38,838

-5.78

41,222

43.69

28,688

Net  worth

253,133

18.55

213,526

42.56

149,783

14.19

131,167

22.63

106,960

LONG  TERM 

STABILITY

 

 

 

 

 

 

 

 

 

Gearing

17.57

-29.55

24.94

-70.46

84.43

41.78

59.55

-32.22

87.86

Equity  in  percentage

3.09

-23.51

4.04

16.43

3.47

9.12

3.18

51.43

2.10

Total  debt  ratio

31.33

31.75

23.78

-14.58

27.84

-8.51

30.43

-34.69

46.59

Working  capital

212,919

8.96

195,414

59.06

122,855

11.96

109,735

21.34

90,435

 

 

PROFIT & LOSS

 

Operating  Income

26,602,430

47.60

18,023,589

37.34

13,123,423

3.88

12,633,416

-

-

Turnover

26,532,117

47.60

17,975,927

37.16

13,105,699

3.88

12,615,965

-

-

Total  operating  expenses

26,269,131

48.91

17,641,383

34.35

13,130,801

3.72

12,660,168

-

-

Gross  Operating  Margin

-

-

-

-

-

-

-

-

146,325

Operating  Charges

26,339,444

48.90

17,689,045

34.53

13,148,524

3.71

12,677,619

-

-

Employee  costs

33,450

946

3,197

-

-

-

-

-

-

Wages  and  salary

26,412

933

2,557

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

7,038

998

641

-

-

-

-

-

-

Other  employee  costs

0

-

0

-

0

-

0

-

0

Director  remuneration

36,500

-

-

-

-

-

-

-

-

Amortization  and  depreciation

13,474

-6.93

14,477

-28.41

20,223

18.85

17,015

-3.55

17,641

Operating  result

262,986

-21.39

334,544

1332

-25,101

56.79

-44,203

-135

126,222

Total  financial  income

1,065,618

59.47

668,236

102

329,736

-38.29

534,338

74.60

306,029

Total  financial  expenses

1,258,028

36.69

920,343

230

278,470

-39.31

458,831

10.21

416,306

Results on ordinary 

operations before

Taxation

70,576

-14.39

82,437

215

26,164

-16.42

31,304

96.32

15,945

Extraordinary  Income

-

-

-

-

-

-

-

-

86

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

-

-

-

-

0

-

0

-100

86

Results  for  the  Year  Before  Taxation

70,576

-14.39

82,437

215

26,164

-16.42

31,304

95.27

16,031

Taxation

26,470

63.46

16,193

114

7,549

6.36

7,097

42.39

4,985

Results on ordinary operations after taxation

44,107

-33.42

66,244

255

18,615

-23.10

24,207

120

10,961

Net  result

44,107

-33.42

66,244

255

18,615

-23.10

24,207

119

11,047

Profit (Loss) for the Year to Be appropiated

44,107

-33.42

66,244

255

18,615

-23.10

24,207

119

11,047

Dividend

-

-

-

-

-

-

-

-

-

 

 

Social Balance Sheet Details

 

Social Balance Sheet

Total

During  the  reporting  year ended  31-12-2015

 

Full-time  Employees

-

Part-time  Employees

1

Total  Fte  Employees

1

 

 

Number  of  hours  worked

 

Full-time  Employees

-

Part-time  Employees

281

Total

281

 

 

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Benefits  In  Addition  To  Wages

-

 

 

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

1

Actual  working  hours

61

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

-

-

-

 

 

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

-

1

1

 

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

industry  average  credit rating

69.51

Industry  average  credit  limit

179154.44

 

 

Payment Information

 

Suspension  of  payments  /  moratorium  history

Amount

-

Details

-

Payment  expectations

Payment  expectation  days

84.92

Day  sales  outstanding

93.92

Industry  comparison

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment expectation days

202.01

Industry  average  day  sales outstanding

210.87

 

 

INDUSTRY QUARTILE ANALYSIS

 

Payment expectations

 

Company  result

84.92

Lower

132.04

Median

58.70

Upper

25.82

 

Day sales outstanding

 

Company  result

93.92

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

 

 

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

Manager

Start  Date

01/10/2015

Street

-

Post  code

-

Country

-

Name

Ashokkumar  Savani

Name

Nilesh  Savani

Position

Manager

Start  Date

06/02/2002

Street

7 JAN  JANSSENSSTRAAT  ANTWERPEN

Post  code

2610

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

EUR

1

INR 79.99

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRI

 

 

Report Prepared by :

NIT

 

 

 

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.