MIRA INFORM REPORT

 

 

 

Report Date :

10.12.2011

 

IDENTIFICATION DETAILS

 

Name :

DIAM. ORO DI ASHISH JAIN

 

 

Registered Office :

 

Via Del Castagnone,7

15048- Valenza (AL)

 

 

Country :

Italy

 

 

Date of Incorporation :

13.07.2006

 

 

Com. Reg. No.:

AL-2006-22303 since 01/08/2006

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Wholesale of clocks, watches and jewellery

 

 

No. of Employees :

5 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Italy

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

company Name and address

 

Diam. Oro di Ashish Jain

 

Via Del Castagnone,7

15048- Valenza(AL)-IT-

 

 

Summary

 

Fiscal Code

:

JNASSH79L20Z222M

Legal Form

:

Sole proprietorship

start of Activities

:

13/07/2006

Turnover Range

:

750.000/1.000.000 Eur

Number of Employees

:

from 1 to 5

 

 

Activity

 

Wholesale of clocks, watches and jewellery

 

Legal Data

 

Legal Form : Sole proprietorship

Fiscal Code : JNASSH79L20Z222M

 

Chamber of Commerce no. : 229405 of Alessandria since 31/07/2006

 

Firms' Register : AL-2006-22303 since 01/08/2006

 

V.A.T. Code : 02133840062

 

Start of Activities

: 13/07/2006

 

Members

 

 

Jain

Ashish

 

 

 

Born in Shivpuri

on 20/07/1979

- Fiscal Code : JNASSH79L20Z222M

 

 

 

Residence :

Viale

Santuario

, 23

- 15048

Valenza

(AL)

- IT -

 

Position

Since

Shares Amount

% Ownership

Proprietor

 

 

 

 

No Protests registered.

 

Companies connected to members *

 

*checkings have been performed on a national scale.

In this module the companies in which members hold/held positions are listed.

 

The Members of the subject firm are not reported to be Members in other companies.

 

Direct Participations

 

The Company under review has no participations in other Companies.

 

Firm's location and structure

 

In order to carry out its activities the firm uses the following locations:

 

-

Legal and operative seat

 

 

 

 

 

 

Via

Del Castagnone

, 7

- 15048

- Valenza

(AL)

- IT -

 

 

 

 

Trading Style: DIAM.ORO

 

 

 

 

PHONE

: 0131/950201

 

 

 

 

PHONE

: 0131/927942

 

 

 

 

Employees

: 1

 

 

 

 

Assistants

: 1

 

Fittings and Equipment for a value of 8.000

Eur

 

Stocks for a value of 65.000

Eur

 

Legal Procedures

 

None reported, standing to the latest received edition of the Official Publications.

 

Immovables *

 

*Subject to survey.

 

None reported in the name of the Firm.



Financial and Economical Analysis

 

Firm operats since some years.

Thanks to sufficient liquid assets, subject is able to control

exposures towards suppliers and banks.

Payments are settled on agreed terms.

On the whole, total indebtedness is mantained to moderate and

acceptable levels.

No irregularities are registered.

Business relations are marked by sufficient correctness.

No complaints from suppliers are registered.

 

Financial Data

 

 

 

Complete balance-sheet for the year

 

(in Eur

x 1 )

 

Item Type

Value

Sales

850.000

 

 

Market / Territory Data

 

Population living in the province

:

429.080

Population living in the region

:

4.330.172

Number of families in the region

:

1.889.207

 

Monthly family expences average in the region (in Eur.) :

 

- per food products

:

429

- per non food products

:

1.789

- per energy consume

:

135

 

Sector Data

 

The values are calculated on a base of 9.175 significant companies.

 

The companies cash their credits on an average of 121 dd.

The average duration of suppliers debts is about 142 dd.

The sector's profitability is on an average of 2,24%.

The labour cost affects the turnover in the measure of 8,02%.

Goods are held in stock in a range of 65 dd.

The difference between the sales volume and the resources used to realize it is about 1,37.

The employees costs represent the 8,14% of the production costs.

 

Statistical Detrimental Data

 

The area is statistically considered moderately risky.

In the region 27.019 protested subjects are found; in the province they count to 2.105.

The insolvency index for the region is 0,63, , while for the province it is 0,50.

Total Bankrupt companies in the province : 1.755.

Total Bankrupt companies in the region : 14.165.

 

DIAMOND INDUSTRY – INDIA

 

-          From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8th Century B.C.  India, in fact, remained undisputed leader till 18th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

-          The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

-          The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

-          Some of the basic traits of family run business enterprises include spirit of entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

-          Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

-          The diamond jewellery industry in India today may be more than Rs 60000 mil and is rated amongst the fastest growing  in the world. Indi ranks third in the world in domestic diamond consumption.

-          Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

-          Excerpts from Times of India dated 30th October 2010 is as under –

 

DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT

 

This could be the biggest credibility crisis the Indian diamond industry has ever faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months ago, they had not repaid  these dues. Bankers believe many diamantaires borrowed money during the economic downturn two years ago and diverted funds to businesses like real estate and capital markets. Many of themselves made money from these businesses but their diamond companies have gone sick and declared insolvency.

-          Most of the money borrowed from the banks in the name of their diamond business has been diverted in real estate and the share market. The banks are not in a position to seize their properties because in many cases, these were purchased in the name of their relatives and friends.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.23

UK Pound

1

Rs.81.55

Euro

1

Rs.69.60

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

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.