3decades

MIRA INFORM REPORT

Report No. :	487200
Report Date :	19.01.2018

IDENTIFICATION DETAILS

Name :	SWINTU DIAM BVBA

Registered Office :	Hoveniersstraat 9-Bus 9 2018 Antwerpen

Country :	Belgium

Financials (as on) :	31.12.2016

Date of Incorporation :	04.02.1998

Com. Reg. No.:	462600027

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. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Belgium

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. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. Belgium is 100% 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.

Belgium’s GDP grew by 1.4% in 2016, unemployment at yearend was 8.4%, and the budget deficit was 2.7% of GDP. The economy largely recovered from the March 2016 terrorist attacks, which 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 107% 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 tax policy, 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.

Source : CIA

Company summary

Business number	462600027
Branche Unit Number	2085561465
Company name	SWINTU DIAM BVBA
Address	HOVENIERSSTRAAT 9-BUS 9
	2018 ANTWERPEN
Date of establishment	04/02/1998
Telephone number	3232318627
Mobile number	32473718627
Fax number	032260602
Liable for VAT	yes
VAT Number	BE.0462.600.027 Check VAT number

Commentary

The business was established over 19 years ago.

The business has 1 employees.

The business has been at the address for over 16 years.

Operating Result in the latest trading period increased 308% on the previous trading period.

Pre-tax profits increased by 1975% compared to the previous trading period.

The business saw an increase in their Cash Balance of 77% during the latest trading period.

Turnover in the latest trading period increased 78% on the previous trading period.

Annual accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2016	154,880,791	2,187,800	14,824,593	21,363,000
31/12/2015	86,774,881	105,403	12,552,829	18,873,810
31/12/2014	89,187,642	116,749	11,195,528	16,929,601
Accounts
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2016	62,489,950	1	12,354,124	1,891,957
31/12/2015	62,020,275	1	11,962,116	96,885
31/12/2014	55,662,738	1	10,726,183	100,900

Payment expectations

Past payments		Payment expectation days	53.76
Industry average payment	199.71	Industry average day sales	211.43
expectation days		outstanding
Day sales outstanding	111.42

Court data summary

BANKRUPTCY DETAILS

Court action type

PROTESTED BILLS

Bill amount

NSSO DETAILS

Date of summons

Contractor details

Registered contractor	-
number
Contractor description	-
Date struck off register
Personnel (NSSO classification)
Code	-
Description	-
Joint Industrial Committee (JIC)
Significant Events
Event Date	04/02/1998
Event Description	Legal creation
Event Details

Company accounts

Assets
Annual accounts	31-12-2016	%	31-12-2015	%	31-12-2014	%	31-12-2013	%	31-12-2012
Weeks	52		52		52		52		52
Currency	EUR		EUR		EUR		EUR		EUR
Total fixed assets	291,513	-0.24	292,219	49.21	195,847	0.04	195,762	-10.91	219,746
Intangible fixed assets	0	-	0	-	0	-	0	-	0
Tangible fixed assets	291,016	-0.25	291,738	49.29	195,416	0.02	195,382	-10.93	219,349
Land & building	169,358	-0.13	169,585	7.96	157,087	10.07	142,721	-7.20	153,800
Plant & machinery	38,680	402	7,696	-7.70	8,338	-23.45	10,892	89.16	5,758
Furniture & Vehicles	82,978	-27.50	114,456	281	29,991	-28.20	41,769	-30.14	59,791
Leasing & Other Similar Rights	0	-	0	-	0	-	0	-	0
Other tangible assets	0	-100	1	-	0	-	0	-	0
Financial fixed assets	497	3.33	481	11.34	432	13.68	380	-4.28	397
Total current assets	62,198,437	0.76	61,728,056	11.29	55,466,891	33.47	41,558,681	-32.53	61,593,776
Inventories	12,536,137	-47.32	23,798,142	2.11	23,307,072	38.23	16,860,815	-31.63	24,662,088
Raw materials & consumables	0	-	0	-	0	-	0	-	0
Work in progress	0	-	0	-	0	-	0	-	0
Finished goods	12,536,137	-47.32	23,798,142	2.11	23,307,072	38.23	16,860,815	-31.63	24,662,088
Other stocks	0	-	0	-	0	-	0	-	0
Trade debtors	47,277,530	31.98	35,821,983	18.90	30,128,131	32.77	22,691,703	-35.33	35,090,534
Other amounts receivable	1,904,198	2.84	1,851,596	27635	6,676	-56.49	15,342	270	4,137
Cash	444,621	77.04	251,145	-26.39	341,188	-36.40	536,424	69.08	317,252
Miscellaneous current assets	35,951	592	5,190	-85.83	36,624	772	4,197	5.88	3,964
Total Assets	62,489,950	0.76	62,020,275	11.42	55,662,738	33.31	41,754,443	-32.45	61,813,522
Liabilities
Total shareholders equity	14,824,593	18.10	12,552,829	12.12	11,195,528	14.34	9,791,084	-3.61	10,157,600
Issued share capital	12,354,124	3.28	11,962,116	11.52	10,726,183	13.58	9,443,365	-4.33	9,870,536
Share premium account	0	-	0	-	0	-	0	-	0
Revaluation reserve	0	-	0	-	0	-	0	-	0
Reserves	2,470,469	318	590,713	25.86	469,345	34.98	347,719	21.13	287,064
Provisions for Liabilities & Charges	0	-	0	-	0	-	0	-	0
Deffered taxes	0	-	0	-	0	-	0	-	0
Creditors	47,665,357	-3.64	49,467,446	11.24	44,467,210	39.12	31,963,359	-38.12	51,655,922
Other long term loans	6,829,920	3.28	6,613,200	11.52	5,929,920	13.58	5,220,720	-4.33	5,456,880
Other long term liabilities	0	-	0	-	0	-	0	-	0
Total long term debts	6,829,920	3.28	6,613,200	11.52	5,929,920	13.58	5,220,720	-4.33	5,456,880
Current portion of long term debt	0	-	0	-	0	-	0	-100	4,149
Financial debts	16,831,830	-13.86	19,539,728	17.95	16,565,920	13.04	14,654,299	-16.59	17,569,252
Trade creditors	22,255,939	-1.05	22,492,904	6.49	21,121,983	87.89	11,241,797	-60.51	28,467,175
Amounts Payable for Taxes,	312,196	1185	24,281	9.14	22,248	-16.36	26,599	-27.16	36,519
Remuneration & Social Security
Miscellaneous current liabilities	1,435,472	80.03	797,333	-3.60	827,139	0.88	819,944	572	121,947
Total current liabilities	40,835,437	-4.71	42,854,246	11.20	38,537,290	44.10	26,742,639	-42.11	46,199,042
Total Liabilities	62,489,950	0.76	62,020,275	11.42	55,662,738	33.31	41,754,443	-32.45	61,813,522

Ratio analysis

TRADING PERFORMANCE
Profit Before Tax	1.41	1075	0.12	-7.69	0.13	8.33	0.12	0	0.12
Return on capital employed	10.10	1736	0.55	-19.12	0.68	-6.85	0.73	1.39	0.72
Return on total assets employed	3.50	1958	0.17	-19.05	0.21	-19.23	0.26	44.44	0.18
Return on net assets employed	14.76	1657	0.84	-19.23	1.04	-7.14	1.12	1.82	1.10
Sales / net working capital	7.25	57.61	4.60	-12.71	5.27	-15.54	6.24	3.14	6.05
Stock turnover ratio	8.09	-70.51	27.43	4.98	26.13	43.18	18.25	-31.08	26.48
Creditor days	53.76	-43.78	95.63	9.49	87.34	94.74	44.85	-60.13	112.48
Debtor days	111.42	-26.06	150.68	22.21	123.30	37.53	89.65	-34.81	137.52
SHORT TERM STABILITY
Current ratio	1.52	5.56	1.44	0	1.44	-7.10	1.55	16.54	1.33
Liquidity ratio / acid ratio	1.22	37.08	0.89	7.23	0.83	-9.78	0.92	15.00	0.80
Current debt ratio	2.75	-19.35	3.41	-0.87	3.44	26.01	2.73	-40.0	4.55
Cashflow	1,891,957	1852	96,885	-3.98	100,900	2.74	98,210	-10.03	109,157
Net worth	14,824,593	18.10	12,552,829	12.12	11,195,528	14.34	9,791,084	-3.61	10,157,600
LONG TERM STABILITY
Gearing	159.61	-23.39	208.34	3.68	200.94	-1.01	202.99	-10.47	226.73
Equity in percentage	23.72	17.19	20.24	0.65	20.11	-14.24	23.45	42.73	16.43
Total debt ratio	3.22	-18.27	3.94	-0.76	3.97	21.78	3.26	-35.95	5.09
Working capital	21,363,000	13.19	18,873,810	11.48	16,929,601	14.27	14,816,042	-3.76	15,394,734

Profit & loss

Operating Income	154,881,536	78.47	86,782,336	-2.72	89,208,713	-3.45	92,401,168	-0.79	93,138,996
Turnover	154,880,791	78.49	86,774,881	-2.71	89,187,642	-3.46	92,382,612	-0.81	93,132,673
Total operating expenses	151,104,687	76.01	85,849,716	-2.74	88,268,649	-3.52	91,490,688	-0.96	92,378,622
Gross Operating Margin	-	-	-	-	-	-	-	-	-
Operating Charges	151,107,009	76.00	85,857,171	-2.76	88,289,719	-3.52	91,509,244	-0.95	92,384,945
Employee costs	115,803	39.11	83,243	-9.44	91,924	26.56	72,630	42.99	50,794
Wages and salary	-	-	-	-	71,270	21.77	58,529	41.92	41,240
Employee pension costs	-	-	-	-	-	-	-	-	-
Social security contributions	-	-	-	-	17,775	39.51	12,741	50.85	8,446
Other employee costs	115,803	39.11	83,243	2791	2,879	111	1,360	22.63	1,109
Director remuneration	-	-	-	-	-	-	-	-	-
Amortization and depreciation	31,560	6.63	29,599	11.66	26,508	5.48	25,131	-36.49	39,570
Operating result	3,776,104	308	925,165	0.67	918,993	3.03	891,924	18.28	754,051
Total financial income	245,523	2026	11,546	19.95	9,626	24582	39	-98.96	3,766
Total financial expenses	1,832,249	120	831,308	2.39	811,871	3.84	781,883	21.02	646,066
Results on ordinary operations	2,187,800	1975	105,403	-9.72	116,749	6.06	110,080	-1.50	111,752
before taxation
Extraordinary Income	1,578	-12.24	1,798	-	-	-	-	-	-
Extraordinary Charges	-	-	-	-	-	-	-	-	-
Extraordinary items	1,578	-12.24	1,798	-	0	-	0	-	0
Results for the Year Before	2,189,378	1942	107,201	-8.18	116,749	6.06	110,080	-1.50	111,752
Taxation
Taxation	328,981	724	39,915	-5.77	42,357	14.48	37,001	-12.25	42,164
Results on ordinary operations	1,858,819	2738	65,488	-11.97	74,392	1.80	73,079	5.02	69,588
after taxation
Net result	1,860,397	2664	67,286	-9.55	74,392	1.80	73,079	5.02	69,587
Profit (Loss) for the Year to be appropiated	1,860,397	2664	67,286	-9.55	74,392	1.80	73,079	5.02	69,587

Social Balance Sheet Details

Social Balance Sheet Details

Social Balance Sheet	Total
During the reporting year
ended 31-12-2016
Full-time Employees	1
Part-time Employees	0
Total Fte Employees	1
Number of hours worked
Full-time Employees	1,914
Part-time Employees	281
Total	2,195
Personnel Charges
Full-time Employees	106,505
Part-time Employees	9,298
Total	115,803
Benefits In Addition To Wages	-
During the previous reporting year
Average number employees in Fte	1
Actual working hours	2,195
Personnel Charges	115,803
Benefits In Addition To Wages	-

Type of Contract	Full-Time	Part-Time	Total Fte
Unlimited Duration	1	1	2
Contracts
Limited Duration Contracts	1	-	1
Contracts For Specific Work	-	-	-
Contracts Regarding	-	-	-
Substitution

Gender and Education
Level
Men	Full-Time	Part-Time	Total Fte
Primary education	1	1	2
Secondairy education	-	-	-
Higher education (non	-	-	-
university)
Higher education	-	-	-
(university)

Women	Full-Time	Part-Time	Total Fte
Primary education	-	-	-
Secondairy education	1	-	1
Higher education (non	-	-	-
university)
Higher education	-	-	-
(university)

Working Category	Full-Time	Part-Time	Total Fte
Management	-	-	-
White collar worker	2	1	3
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

Suspension of payments / moratorium history

Amount	-
Details	-

Payment expectations

Payment expectation days	53.76
Day sales outstanding	111.42

Industry comparison

Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment expectation days	199.71
Industry average day sales outstanding	211.43

Industry quartile analysis

Payment expectations

Company result	53.76
Lower	129.55
Median	58.70
Upper	26.63

Day sales outstanding
Company result	111.42
Lower	136.36
Median	82.06
Upper	45.52

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

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	04/02/1998
Street	9 JAN DE SADELERLAAN EDEGEM
Post code	2650
Country	Belgium
Name	Arvindkumar Mavani

Former director details
Name	Dilip Thakker
Position	Manager
Start Date	04/02/1998
End Date	23/06/2017
Street	6 VAN EYCKLEI ANTWERPEN
Post code	2018
Country	Belgium

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.84
UK Pound	1	INR 88.28
Euro	1	INR 77.88
EURO	1	INR 78.19

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

INFORMATION DETAILS

Analysis Done by :	NIS

Report Prepared by :	DNS

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.

MIRA INFORM REPORT

Company summary

Commentary

Annual accounts

Payment expectations

Court data summary

Company information

Contractor details

Company accounts

Social Balance Sheet Details

Payment Information

Shareholder Details

Linked Companies

Summons

Protested Bills

Bankruptcy and other legal events

Director details

Unit