3decades

MIRA INFORM REPORT

Report No. :	488687
Report Date :	30.01.2018

IDENTIFICATION DETAILS

Name :	AADIBHAV DIAM BVBA

Registered Office :	Hoveniersstraat 2-Bus 417, 2018 Antwerpen

Country :	Belgium

Financials (as on) :	30.06.2017

Date of Incorporation :	23.05.2012

Com. Reg. No.:	846212954

Legal Form :	Private limited liability company

Line of Business :	Wholesale of diamonds and other precious stones

No. of Employees :	Not Available

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 :	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

(30.06.2017)

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. 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	846212954
Branche Unit Number	2209994253
Company name	AADIBHAV DIAM BVBA
Address	HOVENIERSSTRAAT 2-BUS 417
	2018 ANTWERPEN
Date of establishment	23/05/2012
Telephone number	3232887791
Mobile number	-
Fax number	-
Liable for VAT	yes
VAT Number	BE.0846.212.954 Check VAT 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 1 month. The business has changed address 1 times in the last year.

Operating Result in the latest trading period increased 1293% on the previous trading periodNet Worth increased by 192% during the latest trading period.

A 40% growth in Total Assets occurred during the latest trading period. Pre-tax profits increased by 2782% compared to the previous trading period. The business saw a decrease in their Cash Balance of 63% during the latest trading perid.

Annual accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
30/06/2017	7,419,519	183,680	279,196	891,713
30/06/2016	6,313,853	6,373	95,516	725,378
30/06/2015	8,339,126	21,496	93,019	91,245
Accounts
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
30/06/2017	3,044,027	-	20,000	184,280
30/06/2016	2,170,059	-	20,000	4,599
30/06/2015	3,082,555	-	20,000	18,670

Payment expectations

Past payments		Payment expectation days	78.30
Industry average payment	200.93	Industry average day sales	212.08
expectation days		outstanding
Day sales outstanding	99.93

Court data summary

BANKRUPTCY DETAILS

Court action type

PROTESTED BILLS

Bill amount

NSSO DETAILS

Date of summons

Financials

Company accounts

Assets
Annual accounts	30-06-2017	%	30-06-2016	%	30-06-2015	%	30-06-2014	%	30-06-2013
Weeks	52		52		52		52		58
Currency	EUR		EUR		EUR		EUR		EUR
Total fixed assets	872	33.18	655	-63.07	1,774	-50.0	3,548	-	0
Intangible fixed assets	0	-	0	-	0	-	0	-	0
Tangible fixed assets	872	33.18	655	-63.07	1,774	-50.0	3,548	-	0
Land & building	0	-	0	-	0	-	0	-	0
Plant & machinery	0	-	0	-	0	-	0	-	0
Furniture & Vehicles	872	33.18	655	-63.07	1,774	-50.0	3,548	-	0
Leasing & Other Similar Rights	0	-	0	-	0	-	0	-	0
Other tangible assets	0	-	0	-	0	-	0	-	0
Financial fixed assets	0	-	0	-	0	-	0	-	0
Total current assets	3,043,155	40.28	2,169,404	-29.58	3,080,781	73.86	1,772,032	89.05	937,339
Inventories	759,791	15.08	660,230	-52.22	1,381,845	161	528,360	26.66	417,136
Raw materials & consumables	0	-	0	-	0	-	0	-	0
Work in progress	0	-	0	-	0	-	0	-	0
Finished goods	0	-	0	-	0	-	0	-	0
Other stocks	759,791	15.08	660,230	-52.22	1,381,845	161	528,360	26.66	417,136
Trade debtors	2,031,377	144	830,935	-45.26	1,517,934	31.28	1,156,247	198	387,808
Other amounts receivable	2,521	157	978	-10.25	1,090	-30.79	1,574	322	373
Cash	249,465	-63.17	677,261	277	179,462	109	85,850	-34.97	132,022
Miscellaneous current assets	0	-	0	-100	450	-	0	-	0
Total Assets	3,044,027	40.27	2,170,059	-29.60	3,082,555	73.61	1,775,580	89.43	937,339
Liabilities
Total shareholders equity	279,196	192	95,516	2.68	93,019	22.20	76,123	69.59	44,887
Issued share capital	20,000	0	20,000	0	20,000	0	20,000	0	20,000
Share premium account	0	-	0	-	0	-	0	-	0
Revaluation reserve	0	-	0	-	0	-	0	-	0
Reserves	259,196	243	75,516	3.42	73,019	30.11	56,123	125	24,887
Provisions for Liabilities & Charges	0	-	0	-	0	-	0	-	0
Deffered taxes	0	-	0	-	0	-	0	-	0
Creditors	2,764,831	33.27	2,074,543	-30.61	2,989,536	75.91	1,699,457	90.43	892,452
Other long term loans	613,389	-2.72	630,517	-	0	-	0	-	0
Other long term liabilities	0	-	0	-	0	-	0	-	0
Total long term debts	613,389	-2.72	630,517	-	0	-	0	-	0
Current portion of long term debt	0	-	0	-	0	-	0	-	0
Financial debts	300,000	0	300,000	0	300,000	0	300,000	0	300,000
Trade creditors	1,550,603	83.05	847,094	-64.64	2,395,653	115	1,110,787	234	332,052
Amounts Payable for Taxes, Remuneration & Social Security	2,250	-18.18	2,750	-56.35	6,300	-55.94	14,300	10.85	12,900
Miscellaneous current liabilities	298,588	1.50	294,182	2.29	287,582	4.82	274,369	10.86	247,500
Total current liabilities	2,151,441	48.99	1,444,026	-51.70	2,989,536	75.91	1,699,457	90.43	892,452
Total Liabilities	3,044,027	40.27	2,170,059	-29.60	3,082,555	73.61	1,775,580	89.43	937,339
ratio analysis
TRADING PERFORMANCE
Profit Before Tax	2.48	2380	0.10	-61.54	0.26	-65.33	0.75	-30.56	1.08
Return on capital employed	20.58	2238	0.88	-96.19	23.11	-58.80	56.09	-33.37	84.18
Return on total assets employed	6.03	1979	0.29	-58.57	0.70	-70.83	2.40	-40.45	4.03
Return on net assets employed	65.79	886	6.67	-71.14	23.11	-58.80	56.09	-33.37	84.18
Sales / net working capital	8.32	-4.37	8.70	-90.48	91.39	16.42	78.50	1.08	77.66
Stock turnover ratio	10.24	-2.10	10.46	-36.87	16.57	78.75	9.27	-22.56	11.97
Creditor days	78.30	59.54	49.08	-53.36	105.23	46.64	71.76	104	35.17
Debtor days	99.93	108	48.04	-27.69	66.44	-10.31	74.08	82.42	40.61
SHORT TERM STABILITY
Current ratio	1.41	-6.00	1.50	45.63	1.03	-0.96	1.04	-0.95	1.05
Liquidity ratio / acid ratio	1.06	0.95	1.05	84.21	0.57	-21.92	0.73	25.86	0.58
Current debt ratio	7.71	-49.01	15.12	-52.96	32.14	43.93	22.33	12.32	19.88
Cashflow	184,280	3907	4,599	-75.37	18,670	-43.44	33,010	28.01	25,787
Net worth	279,196	192	95,516	2.68	93,019	22.20	76,123	69.59	44,887
LONG TERM STABILITY
Gearing	327.15	-66.42	974.20	202	322.51	-18.17	394.10	-41.03	668.35
Equity in percentage	9.17	108	4.40	45.70	3.02	-29.60	4.29	-10.44	4.79
Total debt ratio	9.90	-54.42	21.72	-32.42	32.14	43.93	22.33	12.32	19.88
Working capital	891,713	22.93	725,378	694	91,245	25.72	72,575	61.69	44,887

Profit & loss

Profit & loss
Operating Income	-	-	-	-	-	-	-	-	-
Turnover	7,419,519	17.51	6,313,853	-24.29	8,339,126	46.37	5,697,334	63.44	3,485,803
Total operating expenses	7,228,383	14.73	6,300,136	-24.18	8,309,629	47.07	5,649,978	63.94	3,446,401
Gross Operating Margin	247,344	1309	17,553	-46.02	32,515	-34.69	49,789	21.18	41,088
Operating Charges	0	-	-	-	-	-	-	-	-
Employee costs	-	-	-	-	-	-	-	-	-
Wages and salary	-	-	-	-	-	-	-	-	-
Employee pension costs	-	-	-	-	-	-	-	-	-
Social security contributions	-	-	-	-	-	-	-	-	-
Other employee costs	-	-	-	-	-	-	-	-	0
Director remuneration	-	-	-	-	-	-	-	-	-
Amortization and depreciation	600	-71.45	2,101	18.47	1,774	0	1,774	97.09	900
Operating result	191,136	1293	13,717	-53.50	29,497	-37.71	47,356	20.18	39,403
Total financial income	58	553	9	-98.51	595	3819	15	716	2
Total financial expenses	7,514	2.20	7,353	-14.47	8,597	83.87	4,675	189	1,618
Results on ordinary operations before	183,680	2782	6,373	-70.35	21,496	-49.65	42,695	12.99	37,787
taxation
Extraordinary Income	-	-	-	-	-	-	-	-	-
Extraordinary Charges	-	-	-	-	-	-	-	-	-
Extraordinary items	-	-	-	-	-	-	-	-	0
Results for the Year Before Taxation	183,680	2782	6,373	-70.35	21,496	-49.65	42,695	12.99	37,787
Taxation	-	-	3,876	-15.74	4,600	-59.86	11,459	-11.17	12,900
Results on ordinary operations after taxation	183,680	7255	2,497	-85.22	16,896	-45.91	31,236	25.51	24,887
Net result	183,680	7255	2,497	-85.22	16,896	-45.91	31,236	25.51	24,887
Profit (Loss) for the Year to be appropiated	183,680	7255	2,497	-85.22	16,896	-45.91	31,236	25.51	24,887

Industry comparison

Activity code	46761
Activity description	Wholesale of diamonds and other precious stones

Payment Information

Payment Information Summary

Total number of Invoices available 1

Total number of Invoices paid within or up to 30 days after the due date	1
Total number of Invoices paid more than 30 days after the due date	0
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	78.30
Day sales outstanding	99.93

Industry comparison

Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment	200.93
expectation days
Industry average day sales	212.08
outstanding

Industry quartile analysis

Payment expectations
Company result	78.30
Lower	131.18
Median	58.79
Upper	26.55

Day sales outstanding

Company result	99.93
Lower	134.36
Median	82.06
Upper	44.92

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	23/05/2012
Street	73 LAARSTRAAT ANTWERPEN
Post code	2610
Country	Belgium
Name	Samir Sheth

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.54
UK Pound	1	INR 89.82
Euro	1	INR 78.87
Euro	1	INR 78.73

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

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	KET

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.

Registered contractor	-
number
Contractor description	-
Date struck off register
Personnel (NSSO classification)
Code	-
Description	-
Joint Industrial Committee (JIC)
Significant Events
Event Date	18/06/2012
Event Description	Registered as a Diamond Trader
Event Details

MIRA INFORM REPORT

Company summary

Company information

Financials

Payment Information

Shareholder Details

Linked Companies

Director details

Unit