|
|
|
MIRA INFORM REPORT
|
Report No. : |
497066 |
|
Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARKOT DIAMONDS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat
30-Bus 259, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
29.10.2010 |
|
|
|
|
Com. Reg. No.: |
830908730 |
|
|
|
|
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. 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. 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 |
830908730 |
|
Branche
Unit Number |
2193295209 |
|
Company
name |
ARKOT
DIAMONDS BVBA |
|
Address |
HOVENIERSSTRAAT
30-BUS 259, 2018 ANTWERPEN |
|
Date
of establishment |
29/10/2010 |
|
Telephone
number |
3232330574 |
|
Mobile
number |
- |
|
Fax
number |
- |
|
Liable
for VAT |
yes |
|
VAT
Number |
BE.0830.908.730
Check VAT number |
Commentary
The
business was established over 6 years ago.
No
employees are recorded for this business.
The
business has been at the address for
over 5 years.
A
28% decline in Total Assets occurred
during the latest trading period.
The
business saw an increase in their
Cash Balance of 613% during the
latest trading period.
Turnover
in the latest trading period decreased
73% on the previous trading period.
Annual accounts
|
DATE OF
LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2016 |
11,928,215 |
123,127 |
1,869,759 |
1,578,029 |
|
31/12/2015 |
44,193,904 |
127,854 |
1,869,710 |
1,606,000 |
|
31/12/2014 |
70,439,862 |
177,325 |
1,777,043 |
1,540,205 |
|
Accounts |
|
|
|
|
|
DATE OF
LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2016 |
5,172,583 |
- |
1,419,532 |
8,443 |
|
31/12/2015 |
7,222,464 |
- |
1,419,532 |
101,160 |
|
31/12/2014 |
11,080,736 |
- |
1,419,532 |
79,991 |
Payment expectations
|
Past payments |
|
Payment
expectation days |
69.33 |
|
Industry
average payment |
197.98 |
Industry
average day sales |
260.17 |
|
expectation
days |
|
outstanding |
|
|
Day
sales outstanding |
130.04 |
|
|
Court data summary
|
BANKRUPTCY
DETAILS |
|
|
Court
action type |
No |
|
PROTESTED
BILLS |
|
|
Bill
amount |
|
|
NSSO
DETAILS |
|
|
Date
of summons |
- |
Company information
|
Business
number |
830908730 |
Company name |
ARKOT
DIAMONDS BVBA |
|
Fax number |
- |
Date founded |
29/10/2010 |
|
Company
status |
active |
Company type |
Private
limited liability company |
|
Currency |
Euro
(€) |
Date of latest accounts |
31/12/2016 |
|
Activity code |
46761 |
Number
of staff |
- |
|
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)
Significant
Events
|
Event
Date |
12/12/2012 |
Event Description
|
Event Details |
Doshi Manuskhlal schrijft in op 6067 nieuwe aandelen. |
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 |
683,900 |
-1.21 |
692,294 |
-1.21 |
700,788 |
-0.14 |
701,751 |
-1.12 |
709,671 |
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible
fixed assets |
683,900 |
-1.21 |
692,294 |
-1.21 |
700,788 |
-0.14 |
701,751 |
-1.12 |
709,671 |
|
Land
& building |
680,136 |
-0.81 |
685,694 |
-0.80 |
691,252 |
-0.80 |
696,810 |
-0.79 |
702,369 |
|
Plant
& machinery |
3,764 |
-27.60 |
5,199 |
-21.63 |
6,634 |
1129 |
540 |
-61.50 |
1,401 |
|
Furniture
& Vehicles |
0 |
-100 |
1,401 |
-51.70 |
2,901 |
-34.08 |
4,401 |
-25.42 |
5,901 |
|
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 |
4,488,683 |
-31.26 |
6,530,170 |
-37.09 |
10,379,948 |
77.45 |
5,849,467 |
-61.85 |
15,333,119 |
|
Inventories |
94,636 |
-70.36 |
319,270 |
15.74 |
275,842 |
40.57 |
196,235 |
-68.27 |
618,529 |
|
Raw
materials & consumables |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Work in
progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished
goods |
94,636 |
-70.36 |
319,270 |
15.74 |
275,842 |
40.57 |
196,235 |
-68.27 |
618,529 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade debtors |
4,249,800 |
-31.32 |
6,188,114 |
-38.60 |
10,077,629 |
139 |
4,216,167 |
-69.67 |
13,901,284 |
|
Other
amounts receivable |
5,093 |
33.77 |
3,807 |
-24.50 |
5,042 |
42.88 |
3,529 |
-50.85 |
7,181 |
|
Cash |
134,701 |
613 |
18,887 |
-8.48 |
20,638 |
-98.56 |
1,432,639 |
77.99 |
804,908 |
|
Miscellaneous
current assets |
4,453 |
4747 |
92 |
-88.48 |
797 |
-11.08 |
897 |
-26.35 |
1,218 |
|
Total Assets |
5,172,583 |
-28.38 |
7,222,464 |
-34.82 |
11,080,736 |
69.14 |
6,551,218 |
-59.16 |
16,042,791 |
Liabilities
|
Total
shareholders equity |
1,869,759 |
0.00 |
1,869,710 |
5.21 |
1,777,043 |
4.21 |
1,705,191 |
6.19 |
1,605,856 |
|
Issued
share capital |
1,419,532 |
0 |
1,419,532 |
0 |
1,419,532 |
0 |
1,419,532 |
0 |
1,419,532 |
|
Share
premium account |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation
reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Reserves |
450,227 |
0.01 |
450,179 |
25.92 |
357,511 |
25.15 |
285,659 |
53.31 |
186,324 |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered
taxes |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Creditors |
3,302,824 |
-38.30 |
5,352,754 |
-42.47 |
9,303,693 |
91.99 |
4,846,028 |
-66.43 |
14,436,934 |
|
Other
long term loans |
392,170 |
-8.50 |
428,584 |
-7.62 |
463,949 |
-7.15 |
499,654 |
-6.02 |
531,648 |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
long term debts |
392,170 |
-8.50 |
428,584 |
-7.62 |
463,949 |
-7.15 |
499,654 |
-6.02 |
531,648 |
|
Current
portion of long term debt |
36,389 |
3.07 |
35,306 |
2.23 |
34,535 |
7.94 |
31,994 |
-1.07 |
32,340 |
|
Financial
debts |
0 |
-100 |
88 |
-96.24 |
2,340 |
748 |
276 |
- |
0 |
|
Trade creditors |
2,230,779 |
-48.72 |
4,350,274 |
-47.59 |
8,301,045 |
114 |
3,878,537 |
-71.96 |
13,831,897 |
|
Amounts
Payable for Taxes, |
123,106 |
249 |
35,185 |
-30.75 |
50,810 |
55.15 |
32,750 |
-17.35 |
39,623 |
|
Remuneration
& Social Security |
|
|
|
|
|
|
|
|
|
|
Miscellaneous
current liabilities |
520,380 |
3.39 |
503,317 |
11.60 |
451,015 |
11.97 |
402,816 |
28150 |
1,426 |
|
Total
current liabilities |
2,910,654 |
-40.89 |
4,924,170 |
-44.30 |
8,839,744 |
103 |
4,346,374 |
-68.74 |
13,905,286 |
|
Total
Liabilities |
5,172,583 |
-28.38 |
7,222,464 |
-34.82 |
11,080,736 |
69.14 |
6,551,218 |
-59.16 |
16,042,791 |
Ratio Analysis
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit
Before Tax |
1.03 |
255 |
0.29 |
16.00 |
0.25 |
-7.41 |
0.27 |
-10.0 |
0.30 |
|
Return
on capital employed |
5.44 |
-2.16 |
5.56 |
-29.71 |
7.91 |
32.05 |
5.99 |
-4.31 |
6.26 |
|
Return
on total assets employed |
2.38 |
34.46 |
1.77 |
10.62 |
1.60 |
-20.79 |
2.02 |
143 |
0.83 |
|
Return
on net assets employed |
6.59 |
-3.65 |
6.84 |
-31.46 |
9.98 |
28.77 |
7.75 |
-6.96 |
8.33 |
|
Sales /
net working capital |
7.56 |
-72.53 |
27.52 |
-39.82 |
45.73 |
38.58 |
33.00 |
6.18 |
31.08 |
|
Stock
turnover ratio |
0.79 |
9.72 |
0.72 |
84.62 |
0.39 |
-2.50 |
0.40 |
-71.22 |
1.39 |
|
Creditor days |
69.33 |
92.16 |
36.08 |
-16.42 |
43.17 |
50.58 |
28.67 |
-74.91 |
114.26 |
|
Debtor days |
130.04 |
154 |
51.11 |
-2.13 |
52.22 |
68.29 |
31.03 |
-72.86 |
114.34 |
|
SHORT
TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current ratio |
1.54 |
15.79 |
1.33 |
13.68 |
1.17 |
-13.33 |
1.35 |
22.73 |
1.10 |
|
Liquidity
ratio / acid ratio |
1.51 |
19.84 |
1.26 |
10.53 |
1.14 |
-12.31 |
1.30 |
22.64 |
1.06 |
|
Current
debt ratio |
1.56 |
-40.68 |
2.63 |
-47.08 |
4.97 |
94.90 |
2.55 |
-70.55 |
8.66 |
|
Cashflow |
8,443 |
-91.65 |
101,160 |
26.46 |
79,991 |
-25.42 |
107,255 |
3.93 |
103,202 |
|
Net worth |
1,869,759 |
0.00 |
1,869,710 |
5.21 |
1,777,043 |
4.21 |
1,705,191 |
6.19 |
1,605,856 |
|
LONG TERM
STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
22.92 |
-7.66 |
24.82 |
-11.92 |
28.18 |
-9.65 |
31.19 |
-11.19 |
35.12 |
|
Equity
in percentage |
36.15 |
39.63 |
25.89 |
61.41 |
16.04 |
-38.38 |
26.03 |
160 |
10.01 |
|
Total
debt ratio |
1.77 |
-38.11 |
2.86 |
-45.42 |
5.24 |
84.51 |
2.84 |
-68.41 |
8.99 |
|
Working
capital |
1,578,029 |
-1.74 |
1,606,000 |
4.27 |
1,540,205 |
2.47 |
1,503,093 |
5.27 |
1,427,833 |
Profit & loss
|
Operating
Income |
11,928,339 |
-73.01 |
44,194,028 |
-37.26 |
70,439,986 |
42.03 |
49,595,193 |
11.76 |
44,376,828 |
|
Turnover |
11,928,215 |
-73.01 |
44,193,904 |
-37.26 |
70,439,862 |
42.03 |
49,595,069 |
11.76 |
44,376,155 |
|
Total
operating expenses |
11,744,292 |
-73.31 |
44,005,201 |
-37.30 |
70,187,337 |
42.13 |
49,382,659 |
11.76 |
44,185,155 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating
Charges |
11,928,339 |
-72.89 |
44,005,325 |
-37.30 |
70,187,461 |
42.13 |
49,382,783 |
11.76 |
44,185,828 |
|
Employee
costs |
185 |
- |
- |
- |
- |
- |
- |
- |
39 |
|
Wages
and salary |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Employee
pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social
security contributions |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other
employee costs |
185 |
- |
- |
- |
- |
- |
0 |
-100 |
39 |
|
Director
remuneration |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Amortization
and depreciation |
8,395 |
-1.16 |
8,493 |
4.36 |
8,139 |
2.76 |
7,920 |
0 |
7,920 |
|
Operating
result |
183,923 |
-2.53 |
188,704 |
-25.27 |
252,525 |
18.89 |
212,410 |
11.21 |
191,000 |
|
Total
financial income |
43 |
-99 |
14,800 |
123 |
6,634 |
17535 |
38 |
707 |
5 |
|
Total
financial expenses |
60,839 |
-19.58 |
75,650 |
-7.56 |
81,835 |
1.84 |
80,355 |
40.48 |
57,200 |
|
Results
on ordinary operations before taxation |
123,127 |
-3.70 |
127,854 |
-27.90 |
177,325 |
34.24 |
132,092 |
-1.28 |
133,804 |
|
Extraordinary
Income |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary
Charges |
- |
- |
- |
- |
87,412 |
- |
- |
- |
- |
|
Extraordinary
items |
- |
- |
- |
- |
-87,412 |
- |
0 |
- |
0 |
|
Results
for the Year Before Taxation |
123,127 |
-3.70 |
127,854 |
42.20 |
89,913 |
-31.93 |
132,092 |
-1.28 |
133,804 |
|
Taxation |
123,079 |
249 |
35,187 |
94.83 |
18,060 |
-44.87 |
32,758 |
-14.96 |
38,522 |
|
Results
on ordinary operations |
48 |
-99 |
92,667 |
-41.82 |
159,264 |
60.33 |
99,334 |
4.25 |
95,282 |
|
after
taxation |
|
|
|
|
|
|
|
|
|
|
Net result |
48 |
-99 |
92,667 |
28.97 |
71,853 |
-27.67 |
99,334 |
4.25 |
95,282 |
|
Profit
(Loss) for the Year to be appropiated |
48 |
-99 |
92,667 |
28.97 |
71,853 |
-27.67 |
99,334 |
4.25 |
95,282 |
Industry
comparison
|
Activity
code |
46761 |
|
|
Activity
description |
Wholesale
of diamonds and other precious stones |
|
|
industry
average credit rating |
68.42 |
|
|
Industry
average credit limit |
127563.74
|
|
Payment
Information
|
Suspension
of payments / moratorium history |
|
|
Amount |
- |
|
Details |
- |
|
Payment
expectations |
|
|
Payment
expectation days |
69.33 |
|
Day
sales outstanding |
130.04 |
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesale
of diamonds and other precious stones |
|
Industry
average payment expectation days |
197.98 |
|
Industry
average day sales outstanding
|
260.17 |
Industry
quartile analysis
Payment expectations
|
Company
result |
69.33 |
|
Lower |
125.84 |
|
Median |
59.82 |
|
Upper |
27.19 |
|
Day
sales outstanding |
|
|
Company
result |
130.04 |
|
Lower |
130.04 |
|
Median |
83.41 |
|
Upper |
46.21 |
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 |
Manuskhlal |
Middle
name |
- |
|
Surname |
Doshi |
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
12/12/2012(estimated) |
End
date |
- |
|
Percentage
owned |
54.7% |
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street name |
- |
House
number |
- |
|
Postal town |
- |
|
|
|
Post code |
- |
Country |
India |
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 |
01/11/2012 |
|
Street |
122
BELGIËLEI ANTWERPEN |
|
Post
code |
2018 |
|
Country |
Belgium |
|
Name |
Jigneshkumar
Shah |
Former
director details
|
Name |
Rajiv
Kothari |
|
Position |
Manager |
|
Start
Date |
29/10/2010 |
|
End
Date |
31/10/2012 |
|
Street |
26
ARENDSNESTLAAN EDEGEM |
|
Post
code |
2650 |
|
Country |
Belgium |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.92 |
|
|
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.54 |
|
Euro |
1 |
INR 80.17 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
TPT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.