MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIAROUGH NV |
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Registered Office : |
Hoveniersstraat 30, 2018
Antwerpen |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
01.01.1975 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale Business in (Un)Polished Diamonds; Processing of Diamonds, Including Grinding, Polishing Etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Name & address
Diarough Nv
Hoveniersstraat 30
2018 Antwerpen
Tel.:+32
(0)3-2342424
Fax.:+32
(0)3-2323931
Legal status
-
Founded
01/01/1975 as P.l.c.
Trade register
99200233
Capital
nominal EUR 10.778.000,--
issued and paid up EUR 10.778.000,--
Management
-Pradeep Taksali, Hagedoornlaan 5, 2020
Antwerpen.
Nishit Parikh, Kastanjelaan 8, 2020
Antwerpen
-Saurin Parikh, Hagedoornlaan 5, 2020
Antwerpen.
Activity
Wholesale business in (un)polished diamonds;
processing of diamonds, including grinding, polishing etc.
Staff
20 employees
Turnover
Net turnover:
2006
Euro 391.480.000
2005
Euro 388.018.000
2004
Euro 341.400.000
Real estate
The business premises at the mentioned
address has been rented by the company, as far as we know.
Finances
See balance sheet
Remarks
Net result:
2006 Euro 176.000
2005 Euro 1.900.000
2004 Euro 527.000
The
shareholders equity was as of:
31/12/2006 Euro 35.980.000
31/12/2005 Euro 15.853.000
31/12/2004 Euro 13.951.000
The
working capital was as of:
31/12/2006 Euro 30.467.000
31/12/2005 Euro 8.480.000
31/12/2004 Euro 5.159.000
Kindly note that the processing of diamonds
is actually contracted out.
Subsidairies and participations, acc. to the
2006 accounts:
-Diarough japan Co Ltd, Japan (50%)
-Diarough Hong Kong, Hong-Kong (90%)
-Sports Cluib of India, Belgium (11,8%)
-Diarough European Sales, Antwerpen (25%)
-Uni Design Jewellery PVT LTD, Mumbai, India
(87,8%)
Website: www.diarough.com/
Full address:
Hoveniersstraat 30 Antwerp Diamond House
11th Floor,
2018 Antwerp
Banks
ABN-AMRO NV
VAT-nr.
BE414865337
Mode of payment
Within terms
Credit demand
No objections against entering into a business relationship.
The following
financial data is retrieved from the corporate balance sheet of
Diarough
NV
BALANCE SHEET
Corporate in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Intangible assets 113 102
Tangible assets 3.514 4.026
Financial assets 6.402 3.763
Miscellaneous
fixed assets 0 0
Total fixed assets 10.029 7.891
Stock 49.156 104.686
Receivables 42.991 48.665
Shares 0 0
Liquid assets 2.286 288
Miscellaneous
current assets 173 173
Total current assets 94.606 153.812
Shareholders equity 15.853 35.980
Provisions 0 0
Long-term
liabilities 2.575 2.275
Current
liabilities 86.126 123.345
Minority interests 0 0
Miscellaneous
liabilities 81 103
Total liabilities 104.635 161.703
PROFIT & LOSS ACCOUNT
Corporate in Euro(x
1.000) Euro(x 1.000)
---31-12-2005--- ------31-12-2006---
Turnover 388.018 391.480
Other income 1.553 1.343
Total expenses 383.827 372.088
Operating profit 5.744 20.735
Balance financial
P/L -2.681 -481
Net profit/loss 1] 3.063 20.254
Taxation 1.169 1.305
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] 1.894 18.949
Balance
extraordinary P/L 6 1.178
Taxation 0 0
Extraordinary P/L
2] 6 1.178
Res. sub.
companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 -19.951
Net result 1.900 176
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Legend : 1]
= Before tax
2]
= After tax
FINANCIAL RATIOS
-----2005----- -----2006-----
EQUITY %
Equity gearing 15,2 22,3
Equity/outside
capital 17,9 28,6
LIQUIDITY
Current ratio 1,1 1,2
Acid test 0,5 0,4
RATES OF RETURN %
Total assets 2,9 12,5
Shareholders equity 19,3 56,3
Pre tax
margin % 0,8 5,2
Turnover rate 370,8 242,1
(x
1.000) (x 1.000)
-------------------- --------------------
Working capital 8.480 30.467
Shareholders equity + Equalization acc. 15.853 35.980
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)