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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

516846

Report Date :

25.06.2018

 

IDENTIFICATION DETAILS

 

Name :

SHAURYA GEMS BVBA

 

 

Registered Office :

Hoveniersstraat 53-Bus 92, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

23.01.2014

 

 

Com. Reg. No.:

544720227

 

 

Legal Form :

Private limited liability company

 

 

Line of Business :

Wholesale of diamonds and other precious stones

 

 

No. of Employees :

2

 

 

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 

 

 

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

(31.12.2017)

Current Rating

(01.04.2018)

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

 

Contact information

 

Company name

SHAURYA GEMS BVBA

Trading name

SHAURYA GEMS 

Registered address

HOVENIERSSTRAAT 53-BUS 92

2018 ANTWERPEN

Correspondence address

HOVENIERSSTRAAT 53-BUS 92

2018 ANTWERPEN

Telephone number

+3233342542

 

 

Registration

 

Registration number

544720227

VAT-number

BE.0544.720.227

Status

active

Establishment date

23/01/2014

Legal form

Private limited liability company

Subscribed share capital

€ 18,600

 

 

Activities

 

Wholesale of diamonds and other precious stones

 

 

Relations

 

Shareholders

Unknown

 

 

Management

 

Name

Samir  Parikh

Position

Manager

Start Date

23/01/2014

 

 

Employees

 

2

 

 

Bank

 

Antwerpse Diamantbank

 

 

Payments

 

Total number of Invoices available

3

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

3

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

 

 

Remarks

 

Auditor: FIGURAD BEDRIJFSREVISOREN BVBA

 

 

 

Financials

 

Assets

Annual accounts

31-12-2016

%

31-12-2015

%

31-12-2014

 

 

 

 

Weeks

52

 

52

 

49

 

 

 

 

Currency

EUR

 

EUR

 

EUR

 

 

 

 

Total fixed assets

14,847

500

2,471

199

825

 

 

 

 

Intangible fixed assets

0

-

0

-

0

 

 

 

 

Tangible fixed assets

14,847

500

2,471

199

825

 

 

 

 

Land & building

0

-

0

-

0

 

 

 

 

Plant & machinery

427

-31.85

626

-24.16

825

 

 

 

 

Furniture & Vehicles

14,421

681

1,845

-

0

 

 

 

 

Leasing & Other Similar Rights

0

-

0

-

0

 

 

 

 

Other tangible assets

0

-

0

-

0

 

 

 

 

Financial fixed assets

0

-

0

-

0

 

 

 

 

Total current assets

8,931,580

19.07

7,501,324

41.41

5,304,848

 

 

 

 

Inventories

2,225,972

245

644,935

104

314,876

 

 

 

 

Raw materials & consumables

0

-

0

-

0

 

 

 

 

Work in progress

0

-

0

-

0

 

 

 

 

Finished goods

2,225,972

245

644,935

-

0

 

 

 

 

Other stocks

0

-

0

-100

314,876

 

 

 

 

Trade debtors

1,980,333

-53.41

4,250,366

9.83

3,870,047

 

 

 

 

Other amounts receivable

3,922

13.30

3,462

292

881

 

 

 

 

Cash

4,719,834

81.41

2,601,751

132

1,118,277

 

 

 

 

Miscellaneous current assets

1,519

87.36

811

5.61

768

 

 

 

 

Total Assets

8,946,427

19.23

7,503,795

41.43

5,305,673

 

 

 

 

 

Liabilities

Total shareholders equity

1,702,228

1940

83,403

61.17

51,749

 

 

 

 

Issued share capital

18,600

0

18,600

0

18,600

 

 

 

 

Share premium account

0

-

0

-

0

 

 

 

 

Revaluation reserve

0

-

0

-

0

 

 

 

 

Reserves

1,683,628

2498

64,803

95.49

33,149

 

 

 

 

Provisions for Liabilities & Charges

0

-

0

-

0

 

 

 

 

Deffered taxes

0

-

0

-

0

 

 

 

 

Creditors

7,244,199

-2.37

7,420,392

41.24

5,253,925

 

 

 

 

Other long term loans

5,322,409

3.47

5,143,750

56.13

3,294,622

 

 

 

 

Other long term liabilities

0

-

0

-100

40,000

 

 

 

 

Total long term debts

5,322,409

3.47

5,143,750

54.25

3,334,622

 

 

 

 

Current portion of long term debt

2,413

-

0

-

0

 

 

 

 

Financial debts

605

-

0

-

0

 

 

 

 

Trade creditors

1,404,660

-30.60

2,024,135

10.36

1,834,058

 

 

 

 

Amounts Payable for Taxes, Remuneration & Social Security

105,208

102

51,879

41.29

36,719

 

 

 

 

Miscellaneous current liabilities

408,904

103

200,629

313

48,526

 

 

 

 

Total current liabilities

1,921,790

-15.59

2,276,642

18.62

1,919,303

 

 

 

 

Total Liabilities

8,946,427

19.23

7,503,795

41.43

5,305,673

 

 

 

 

 

Ratio analysis

TRADING PERFORMANCE

Profit Before Tax

5.88

3166

0.18

-

-

 

 

 

 

Return on capital employed

24.26

2656

0.88

-35.77

1.37

 

 

 

 

Return on total assets employed

19.05

3022

0.61

-30.68

0.88

 

 

 

 

Return on net assets employed

100.11

81.69

55.10

-38.60

89.74

 

 

 

 

Sales / net working capital

4.13

-17.07

4.98

-

-

 

 

 

 

Stock turnover ratio

7.69

210

2.48

-

-

 

 

 

 

Creditor days

19.01

-33.62

28.64

-

-

 

 

 

 

Debtor days

24.96

-58.16

59.66

-

-

 

 

 

 

SHORT TERM STABILITY

Current ratio

4.65

41.34

3.29

19.20

2.76

 

 

 

 

Liquidity ratio / acid ratio

3.49

15.95

3.01

15.77

2.60

 

 

 

 

Current debt ratio

1.13

-95.86

27.30

-26.40

37.09

 

 

 

 

Cashflow

1,620,038

4917

32,290

-3.09

33,320

 

 

 

 

Net worth

1,702,228

1940

83,403

61.17

51,749

 

 

 

 

LONG TERM STABILITY

Gearing

312.85

-94.93

6,167.33

-3.13

6,366.58

 

 

 

 

Equity in percentage

19.03

1614

1.11

13.27

0.98

 

 

 

 

Total debt ratio

4.26

-95.21

88.97

-12.37

101.53

 

 

 

 

Working capital

7,009,790

34.17

5,224,681

54.32

3,385,545

 

 

 

 

 

Profit & loss

Operating Income

28,957,088

11.32

26,013,209

-

-

 

 

 

 

Turnover

28,956,226

11.35

26,005,490

-

-

 

 

 

 

Total operating expenses

26,964,998

4.52

25,798,455

-

-

 

 

 

 

Gross Operating Margin

-

-

-

-

113,158

 

 

 

 

Operating Charges

28,957,088

12.21

25,806,174

-

-

 

 

 

 

Employee costs

31,627

-1.45

32,092

244

9,326

 

 

 

 

Wages and salary

30,049

2.24

29,391

249

8,414

 

 

 

 

Employee pension costs

-

-

-

-

-

 

 

 

 

Social security contributions

618

-63.59

1,699

390

346

 

 

 

 

Other employee costs

959

-4.35

1,003

77.16

566

 

 

 

 

Director remuneration

-

-

-

-

-

 

 

 

 

Amortization and depreciation

1,213

90.75

636

270

172

 

 

 

 

Operating result

1,991,228

861

207,035

102

102,008

 

 

 

 

Total financial income

466

-92.31

6,055

8649628

0

 

 

 

 

Total financial expenses

287,676

72.12

167,135

200

55,570

 

 

 

 

Results on ordinary operations before taxation

1,704,018

3608

45,955

-1.04

46,439

 

 

 

 

Extraordinary Income

-

-

-

-

-

 

 

 

 

Extraordinary Charges

-

-

-

-

-

 

 

 

 

Extraordinary items

-

-

-

-

-

 

 

 

 

Results for the Year Before Taxation

1,704,018

3608

45,955

-1.04

46,439

 

 

 

 

Taxation

85,193

495

14,300

7.60

13,290

 

 

 

 

Results on ordinary operations after taxation

1,618,825

5014

31,655

-4.51

33,149

 

 

 

 

Net result

1,618,825

5014

31,655

-4.51

33,149

 

 

 

 

Profit (Loss) for the Year to be appropiated

1,618,825

5014

31,655

-4.51

33,149

 

 

 

 

Dividends

-

-

-

-

-

 

 

 

 

 

 

 FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.77

UK Pound

1

INR 89.96

Euro

1

INR 78.86

Euro

1

INR 79.38

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

SDA

                                                


 

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.