3decades

MIRA INFORM REPORT

Report No. :	498171
Report Date :	19.03.2018

IDENTIFICATION DETAILS

Name :	SARA DIAMONDS BVBA

Registered Office :	BELGIËLEI 25-BUS 5, 2018 ANTWERPEN

Country :	Belgium

Date of Incorporation :	30.03.2012

Com. Reg. No.:	845059149

Legal Form :	Private limited liability company

Line of Business :	Wholesale of diamonds and other precious stones

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate

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

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	845059149
Branche Unit Number	2208558950
Company name	SARA DIAMONDS BVBA
Address	BELGIËLEI 25-BUS 5
	2018 ANTWERPEN
Date of establishment	30/03/2012
Telephone number	3232817156
Mobile number	-
Fax number	-
Liable for VAT	yes
VAT Number	BE.0845.059.149 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 5 years.

Operating Result in the latest trading period decreased 22% on the previous trading period.

A 32% growth in Total Assets occurred during the latest trading period.

The business saw an increase in their Cash Balance of 24% during the latest trading period.

Annual accounts

DATE OF LATEST ACCOUNTS	TURNOVER	PROFIT BEFORE TAX	NET WORTH	WORKING CAPITAL
31/12/2016		17,171	74,816	74,816
31/12/2015		16,015	74,499	74,499
31/12/2014		40,043	63,400	63,269
Accounts
DATE OF LATEST ACCOUNTS	BALANCE TOTAL	NUMBER OF EMPLOYEES	CAPITAL	CASHFLOW
31/12/2016	2,636,905	-	18,600	317
31/12/2015	-	-	18,600	11,230
31/12/2014	2,265,362	-	18,600	23,071

Payment expectations

Past payments		Payment expectation days	-
Industry average payment	201.61	Industry average day sales outstanding	211.13
expectation days
Day sales outstanding	-

Court data summary

BANKRUPTCY DETAILS

Court action type

PROTESTED BILLS

Bill amount

NSSO DETAILS

Date of summons

Financials

Company accounts

Assets
Annual accounts	31-12-2016	%	31-12-2015	%	31-12-2014	%	31-12-2013
Weeks	52		52		52		92
Currency	EUR		EUR		EUR		EUR
Total fixed assets	0	-	0	-100	131	-85.71	918
Intangible fixed assets	0	-	0	-	0	-	0
Tangible fixed assets	0	-	0	-100	131	-85.71	918
Land & building	0	-	0	-	0	-	0
Plant & machinery	0	-	0	-100	131	-85.71	918
Furniture & Vehicles	0	-	0	-	0	-	0
Leasing & Other Similar Rights	0	-	0	-	0	-	0
Other tangible assets	0	-	0	-	0	-	0
Financial fixed assets	0	-	0	-	0	-	0
Total current assets	2,636,905	32.27	1,993,606	-11.99	2,265,231	9.29	2,072,599
Inventories	1,355,908	120	614,533	-20.42	772,206	-22.71	999,119
Raw materials & consumables	0	-	0	-	0	-	0
Work in progress	0	-	0	-	0	-	0
Finished goods	0	-	0	-	0	-	0
Other stocks	1,355,908	120	614,533	-20.42	772,206	-22.71	999,119
Trade debtors	558,419	-30.12	799,104	-45.49	1,466,015	45.66	1,006,434
Other amounts receivable	1,591	12.30	1,416	-62.33	3,760	63.73	2,297
Cash	720,987	24.62	578,552	2388	23,249	-63.66	63,980
Miscellaneous current assets	0	-	0	-	0	-100	769
Total Assets	2,636,905	32.27	1,993,606	-12.00	2,265,362	9.25	2,073,517

Liabilities
Total shareholders equity	74,816	0.43	74,499	17.51	63,400	54.20	41,116
Issued share capital	18,600	0	18,600	0	18,600	0	18,600
Share premium account	0	-	0	-	0	-	0
Revaluation reserve	0	-	0	-	0	-	0
Reserves	56,216	0.57	55,899	24.77	44,800	98.97	22,516
Provisions for Liabilities & Charges	0	-	0	-	0	-	0
Deffered taxes	0	-	0	-	0	-	0
Creditors	2,562,089	33.50	1,919,107	-12.85	2,201,962	8.34	2,032,401
Other long term loans	0	-	0	-	0	-	0
Other long term liabilities	0	-	0	-	0	-	0
Total long term debts	0	-	0	-	0	-	0
Current portion of long term debt	0	-	0	-	0	-	0
Financial debts	0	-100	225	-	0	-100	16,445
Trade creditors	1,065,503	-14.91	1,252,213	-35.27	1,934,629	-3.94	2,013,987
Amounts Payable for Taxes, Remuneration & Social Security	16,650	375	3,500	-70.83	12,000	509	1,969
Miscellaneous current liabilities	1,479,935	123	663,168	159	255,333	-	0
Total current liabilities	2,562,089	33.50	1,919,107	-12.85	2,201,962	8.34	2,032,401
Total Liabilities	2,636,905	32.27	1,993,606	-12.00	2,265,362	9.25	2,073,517

Ratio analysis
TRADING PERFORMANCE
Profit Before Tax	-	-	-	-	-	-	-
Return on capital employed	22.95	6.74	21.50	-65.96	63.16	15.34	54.76
Return on total assets employed	0.65	-18.75	0.80	-54.80	1.77	62.39	1.09
Return on net assets employed	22.95	6.74	21.50	-65.96	63.16	15.34	54.76
Sales / net working capital	-	-	-	-	-	-	-
Stock turnover ratio	-	-	-	-	-	-	-
Creditor days	-	-	-	-	-	-	-
Debtor days	-	-	-	-	-	-	-
SHORT TERM STABILITY
Current ratio	1.03	-0.96	1.04	0.97	1.03	0.98	1.02
Liquidity ratio / acid ratio	0.50	-30.56	0.72	5.88	0.68	28.30	0.53
Current debt ratio	34.25	32.96	25.76	-25.83	34.73	-29.74	49.43
Cashflow	317	-97.18	11,230	-51.32	23,071	-3.70	23,958
Net worth	74,816	0.43	74,499	17.51	63,400	54.20	41,116
LONG TERM STABILITY
Gearing	-	-	0.30	-	-	-	40.00
Equity in percentage	2.84	-24.06	3.74	33.57	2.80	41.41	1.98
Total debt ratio	34.25	32.96	25.76	-25.83	34.73	-29.74	49.43
Working capital	74,816	0.43	74,499	17.75	63,269	57.39	40,198
Profit & loss
Operating Income	-	-	-	-	-	-	-
Turnover	-	-	-	-	-	-	-
Total operating expenses	-	-	-	-	-	-	-
Gross Operating Margin	81,299	-22.24	104,557	-16.29	124,901	1700	-7,344
Operating Charges	0	-	-	-	-	-	-
Employee costs	-	-	-	-	-	-	-
Wages and salary	-	-	-	-	-	-	-
Employee pension costs	-	-	-	-	-	-	-
Social security contributions	-	-	-	-	-	-	-
Other employee costs	-	-	-	-	-	-	0
Director remuneration	-	-	-	-	-	-	-
Amortization and depreciation	-	-	131	-83.33	787	-45.45	1,442
Operating result	80,123	-22.35	103,184	-16.17	123,080	1259	-9,772
Total financial income	211,534	-43.23	372,627	-26.97	510,240	113	238,782
Total financial expenses	274,486	-40.30	459,796	-22.50	593,277	187	206,495
Results on ordinary operations before taxation	17,171	7.22	16,015	-60.01	40,043	77.85	22,516
Extraordinary Income	-	-	-	-	-	-	-
Extraordinary Charges	-	-	-	-	-	-	-
Extraordinary items	-	-	-	-	-	-	0
Results for the Year Before Taxation	17,171	7.22	16,015	-60.01	40,043	77.85	22,516
Taxation	16,854	242	4,915	-72.32	17,759	-	-
Results on ordinary operations after taxation	317	-97.14	11,099	-50.19	22,284	-1.03	22,516
Net result	317	-97.14	11,099	-50.19	22,284	-1.03	22,516
Profit (Loss) for the Year to be appropiated	317	-97.14	11,099	-50.19	22,284	-1.03	22,516
Dividends	-	-	-	-	-	-	-

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

Industry comparison
Activity code	46761
Activity description	Wholesale of diamonds and other precious stones
Industry average payment expectation days	201.61
Industry average day sales outstanding	211.13

Industry quartile analysis

Payment expectations

Company result	-
Lower	129.55
Median	58.70
Upper	25.82

Day sales outstanding
Company result	-
Lower	136.36
Median	82.06
Upper	44.75

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	30/03/2012
Street
Post code
Country
Name	Kalpesh Patel

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.87
UK Pound	1	INR 90.49
Euro	1	INR 79.91
Euro	1	INR 79.79

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

INFORMATION DETAILS

Analysis Done by :	VIV

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)

MIRA INFORM REPORT

Company summary

Company information

Financials

Shareholder Details

Linked Companies

Director details

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