MIRA INFORM REPORT

 

 

Report No. :

510413

Report Date :

24.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

PG DIAM BVBA

 

 

Registered Office :

Pelikaanstraat 62 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

15.09.2006

 

 

Com. Reg. No.:

883899731

 

 

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 :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Moderate

 

 

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

(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. 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

883899731

Branche  Unit  Number

2156507859

Company  name

PG  DIAM  BVBA

Address

PELIKAANSTRAAT  62

2018 ANTWERPEN

Date  of  establishment

15/09/2006

Telephone  number

3232314657

Mobile  number

32478519343

Fax  number

-

Liable  for  VAT

yes

VAT  Number

BE.0883.899.731  Check  VAT  number

 

 

Commentary

 

The  business  was  established  over  11  years  ago.

No  employees  are  recorded  for  this  business.

The  business  has  been  at  the  address  for  over  2  years.

Operating  Result  in  the  latest  trading  period  increased  334%  on  the  previous  trading  period.

Net  Worth  increased  by  149%  during  the  latest  trading  period.

Pre-tax  profits  increased  by  403%  compared  to  the  previous  trading  period.

The  business  saw  an  increase  in  their  Cash  Balance  of  297%  during  the  latest  trading  period.

 

 

Annual  accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

 

137,259

201,180

196,583

31/12/2015

 

27,275

80,659

76,534

31/12/2014

 

18,008

62,302

62,166

 

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

2,273,008

-

18,600

121,123

31/12/2015

2,673,762

-

18,600

18,629

31/12/2014

3,781,887

-

18,600

13,983

 

 

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

202.68

Industry  average  day  sales

211.90

expectation  days

 

outstanding

 

Day  sales  outstanding

-

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

 

PROTESTED  BILLS

Bill  amount

-

 

NSSO  DETAILS

Date  of  summons

-

 

 

Company  information

 

Business  number

883899731

Company  name

PG  DIAM  BVBA

Fax  number

-

Date  founded

15/09/2006

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

28/09/2012

Event  Description

resignation-appointment  of  director(s)

Event  Details

Commentaar  01-10-2013:  Ontslag  als  zaakvoerder  met  ingang  van  30/09/2013  van  PG  International

 

(HK)  LTD.  Benoeming  als  zaakvoerder  met  ingang  van  01/10/2013  van  Rakesh  Nayani.

Event  Date

15/09/2006

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

4,596

11.42

4,125

2929

136

-54.79

301

-35.37

466

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

2,596

22.17

2,125

1460

136

-54.79

301

-35.37

466

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

2,596

22.17

2,125

1460

136

-54.79

301

-35.37

466

Furniture  &  Vehicles

0

-

0

-

0

-

0

-

0

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

2,000

0

2,000

-

0

-

0

-

0

Total  current  assets

2,268,411

-15.03

2,669,637

-29.41

3,781,751

30.24

2,903,684

73.19

1,676,562

Inventories

1,319,721

-37.88

2,124,543

-40.31

3,559,483

27.35

2,795,071

68.68

1,656,987

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

1,319,721

-37.88

2,124,543

-40.31

3,559,483

27.35

2,795,071

68.68

1,656,987

Trade  debtors

909,370

71.67

529,727

151

210,474

108

101,106

1278

7,334

Other  amounts  receivable

4,205

-35.67

6,536

211

2,097

151

834

-18.00

1,017

Cash

35,115

297

8,830

-8.93

9,697

45.31

6,673

-40.55

11,224

Miscellaneous  current  assets

0

-

0

-

0

-

0

-

0

Total  Assets

2,273,008

-14.99

2,673,762

-29.30

3,781,887

30.23

2,903,985

73.16

1,677,028

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

201,180

149

80,659

29.46

62,302

28.50

48,484

95.85

24,756

Issued  share  capital

18,600

0

18,600

0

18,600

0

18,600

0

18,600

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

182,580

194

62,059

42.00

43,702

46.24

29,884

385

6,156

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

2,071,828

-20.10

2,593,103

-30.29

3,719,585

30.26

2,855,501

72.82

1,652,272

Other  long  term  loans

0

-

0

-

0

-

0

-

0

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

0

-

0

-

0

-

0

-

0

Trade  creditors

1,214,881

-31.41

1,771,165

-40.73

2,988,189

13.54

2,631,842

61.62

1,628,438

Amounts  Payable  for  Taxes,

19,717

74.53

11,297

165

4,259

-44.17

7,628

3549

209

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

837,230

3.28

810,641

11.48

727,137

236

216,031

814

23,625

Total  current  liabilities

2,071,828

-20.10

2,593,103

-30.29

3,719,585

30.26

2,855,501

72.82

1,652,272

Total  Liabilities

2,273,008

-14.99

2,673,762

-29.30

3,781,887

30.23

2,903,985

73.16

1,677,028

 

Ratio  analysis

                                                                                                                                                       

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

68.23

101

33.82

17.02

28.90

165

10.88

-46.85

20.47

Return  on  total  assets  employed

6.04

492

1.02

112

0.48

166

0.18

-40.0

0.30

Return  on  net  assets  employed

68.23

101

33.82

17.02

28.90

165

10.88

-46.85

20.47

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.09

5.83

1.03

0.98

1.02

0

1.02

0.99

1.01

Liquidity  ratio  /  acid  ratio

0.46

119

0.21

250

0.06

50.0

0.04

300

0.01

Current  debt  ratio

10.30

-67.96

32.15

-46.15

59.70

1.36

58.90

-11.75

66.74

Cashflow

121,123

550

18,629

33.22

13,983

-41.47

23,892

368

5,096

Net  worth

201,180

149

80,659

29.46

62,302

28.50

48,484

95.85

24,756

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

-

-

-

-

Equity  in  percentage

8.85

193

3.02

83.03

1.65

-1.20

1.67

12.84

1.48

Total  debt  ratio

10.30

-67.96

32.15

-46.15

59.70

1.36

58.90

-11.75

66.74

Working  capital

196,583

156

76,534

23.11

62,166

29.02

48,183

98.36

24,290

 

 

Profit  &  loss

                                                                                                                                                             

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

142,817

316

34,260

50.06

22,831

211

7,327

29.46

5,660

Operating  Charges

0

-

-

-

-

-

-

-

-

Employee  costs

304

433

57

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

304

433

57

-

-

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

602

121

272

65.06

165

0

165

469

29

Operating  result

140,411

334

32,322

51.53

21,331

276

5,671

15.84

4,895

Total  financial  income

5

749

1

-98.15

31

102766

0

-99

331

Total  financial  expenses

3,157

-37.46

5,048

50.51

3,354

749

395

149

158

Results  on  ordinary  operations  before  taxation

137,259

403

27,275

51.46

18,008

241

5,276

4.12

5,067

Extraordinary  Income

-

-

-

-

-

-

22,601

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

-

-

-

-

-

-

22,601

-

0

Results  for  the  Year  Before  Taxation

137,259

403

27,275

51.46

18,008

-35.40

27,877

450

5,067

Taxation

16,739

87.69

8,918

112

4,189

0.95

4,150

-

-

Results  on  ordinary  operations  after  taxation

120,520

556

18,357

32.84

13,818

1127

1,126

-77.78

5,067

Net  result

120,520

556

18,357

32.84

13,818

-41.76

23,727

368

5,067

Profit  (Loss)  for  the  Year  to  be  appropiated

120,520

556

18,357

32.84

13,818

-41.76

23,727

368

5,067

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2016

 

Full-time  Employees

-

Part-time  Employees

-

Total  Fte  Employees

-

Number  of  hours  worked

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

-

Actual  working  hours

-

Personnel  Charges

-

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

-

-

-

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

Substitution

 

 

 

 

 

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

-

-

-

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

-

Day  sales  outstanding

-

 

Industry  comparison          

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment expectation  days

202.68

Industry  average  day  sales outstanding

211.90

 

 

Industry  quartile  analysis

Payment  expectations

Company  result

-

Lower

132.91

Median

58.70

Upper

25.03

 

Day  sales  outstanding 

Company  result

-

Lower

136.36

Median

81.15

Upper

44.49

 

 

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

01/10/2013

Street

60 LANGE  HERENTALSESTRAAT  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Rakesh  Nayani

 

Former  director  details

 

Name

KHIMJI  GADHIYA

Position

Permanent  representative  legal  entity

Start  Date

01/09/2007

End  Date

30/09/2013

Street

 

Post  code

 

Country

 

Name

VINUBHAI  GADHIYA

Position

Permanent  representative  legal  entity

Start  Date

01/09/2007

End  Date

30/09/2013

Street

 

Post  code

 

Country

 

Name

PG  INTERNATIONAL  LIMITED  BO

Position

Manager

Start  Date

01/09/2007

End  Date

30/09/2013

Street

 

Post  code

 

Country

 

Name

Jitendra  Bagadia

Position

Manager

Start  Date

15/09/2006

End  Date

31/08/2007

Street

 

Post  code

 

Country

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.21

UK Pound

1

INR 91.43

Euro

1

INR 80.24

Euro

1

INR 80.09

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

TRU

                                                


 

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)

 

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