MIRA INFORM REPORT
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Report Date : |
21.04.2012 |
IDENTIFICATION DETAILS
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Name : |
S.R. DIAMOND BVBA |
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Registered Office : |
62, Pelikaanstraat, Antwerpen |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
03.01.2008 |
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Com. Reg. No.: |
894975250 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesale of diamonds and other precious stones |
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No. of Employees : |
0 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Slow |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Belgium |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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company details |
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Company Number |
894975250 |
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Name |
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Address |
62, PELIKAANSTRAAT, ANTWERPEN |
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Post Code |
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Telephone Number |
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Fax Number |
-- |
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Establishment Date |
03-01-2008 |
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Company Status |
ACTIVE |
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Company Type |
Private limited liability company |
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Number of Employees |
0 |
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Activity Description |
Wholesale of diamonds and other precious stones |
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Activity Code |
46761 |
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Liable For Vat |
yes |
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Currency |
Euro (€) |
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Latest Branch Details |
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Street |
-- |
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House Number |
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City |
-- |
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Postal Code |
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Trade Registered Number |
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Trade Registered Entry Date |
-- |
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Contractor Details |
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Registration Number |
-- |
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Contractor Description |
-- |
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Striking Off Date |
-- |
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Latest Event |
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Serial Number |
25833 |
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Event Description |
Appointment |
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Limit |
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Credit Information |
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Purchase Limit (€) |
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Industry Comparison |
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Payment Expectations |
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Payment Expectations |
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Payment Expectation Days |
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Day Sales Outstanding |
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Industry Comparison |
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Activity Code |
4676 |
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Activity Description |
Wholesale of other intermediate products |
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Industry Average
Day Sales Outstanding |
124.66 |
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Industry Average Payment Expectation Days |
137 |
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Industry Quartile Analysis |
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Payment Expectations - Lower |
41.25 |
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Payment Expectations - Median |
90.32 |
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Payment Expectations - Upper |
162.53 |
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Day Sales Outstanding - Lower |
31.52 |
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Day Sales Outstanding - Median |
75.21 |
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Day Sales Outstanding - Upper |
158.58 |
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Company Shareholder Holding |
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Period |
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Accounts End Date |
31-12-2009 |
31-12-2008 |
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Currency |
EUR |
EUR |
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Weeks |
52 |
52 |
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Profit & Loss |
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Turnover |
- |
- |
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Total Operating Expenses |
- |
- |
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Operating Result |
6,735 |
3,501 |
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Total Financial Income |
1 |
3 |
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Total Financial Expenses |
1,053 |
500 |
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Results on Ordinary Operations Before Tax |
5,683 |
3,003 |
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Taxation |
1,227 |
722 |
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Results on Ordinary Operations After Tax |
4,456 |
2,281 |
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Extraordinary Items |
0 |
0 |
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Net Result |
4,457 |
2,281 |
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Other Information |
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Dividends |
- |
- |
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Director Remuneration |
- |
- |
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Employee Costs |
0 |
0 |
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- Wages & Salaries |
- |
- |
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- Employee Pension Costs |
- |
- |
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- Social Security Contributions |
- |
- |
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- Other Employee Costs |
- |
- |
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Amortization & Depreciation |
- |
- |
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Balance Sheet |
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Intangible Fixed Assets |
0 |
0 |
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Tangible Fixed Assets |
0 |
0 |
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- Land And Buildings |
0 |
0 |
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- Plant And Machinery |
0 |
0 |
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- Other Tangible Assets |
0 |
0 |
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Financial Fixed Assets |
967 |
0 |
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Total Fixed Assets |
967 |
0 |
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Inventories |
908,351 |
420,047 |
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- Raw Materials & Consumables |
0 |
0 |
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- Work in Progress |
0 |
0 |
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- Finished Goods |
0 |
0 |
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- Other Stocks |
908,351 |
420,047 |
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Trade Debtors |
503,918 |
460,055 |
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Cash |
465,016 |
157,588 |
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- Miscellaneous Current Assets |
2,192 |
0 |
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Total Current Assets |
1,882,388 |
1,037,690 |
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Current Liabilities |
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- Trade Creditors |
1,112,041 |
707,221 |
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- Short Term Group Loans |
0 |
0 |
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- Other Short Term Loans |
0 |
0 |
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- Miscellaneous Current Liabilities |
745,140 |
309,588 |
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Total Current Liabilities |
1,857,181 |
1,016,809 |
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Long Term Debts |
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- Long Term Group Loans |
0 |
0 |
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- Other Long Term Loans |
0 |
0 |
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- Other Long Term Liabilities |
836 |
0 |
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Total Long Term Debts |
836 |
0 |
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Shareholders Equity |
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- Issued Share Capital |
18,600 |
18,600 |
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- Share Premium Account |
0 |
0 |
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- Reserves |
6,738 |
2,281 |
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- Revaluation Reserve |
0 |
0 |
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Total Shareholders Equity |
25,338 |
20,881 |
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Working Capital |
25,207 |
20,881 |
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Net Worth |
25,338 |
20,881 |
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Ratio Analysis |
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Trading Performance |
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Results on Ordinary Operations Before Taxation Margin |
- |
- |
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Return On Capital Employed |
21.71 |
14.38 |
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Return On Total Assets Employed |
0.30 |
0.29 |
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Return On Net Assets Employed |
22.55 |
14.38 |
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Sales / Net Working Capital |
- |
- |
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Operating Efficiency |
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Stock Turnover Ratio |
- |
- |
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Debtor Days |
- |
- |
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Creditor Days |
- |
- |
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Short Term Stability |
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Current Ratio |
1.01 |
1.02 |
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Liquidity Ratio / Acid Ratio |
0.52 |
0.61 |
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Current Debt Ratio |
73.30 |
48.70 |
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Long Term Stability |
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Gearing |
0 |
0 |
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Equity In Percentage |
0.01 |
0.02 |
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Total Debt Ratio |
0 |
0 |
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Protested Bills |
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Drawee Name |
-- |
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Drawee Address |
-- |
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Bill Amount |
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Bill Currency |
-- |
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Maturity of Bill (month) |
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Name of Drawer |
-- |
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City of Drawer |
-- |
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NSSO Details |
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Name of Defendant |
-- |
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Legal Form of Defendant |
-- |
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Date of Summons |
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Labour Court |
-- |
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Directors |
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Company Director |
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Full Name |
MITESHKUMAR DAHYABHA SHAH |
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Birth Date |
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Position Description |
Manager |
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Address |
6 ATITHYA NAG TALAUDI NAVSARI GUJARAT |
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Country |
India |
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Postal Code |
0 |
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Birth Date |
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DIAMOND INDUSTRY –
INDIA
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.99 |
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UK Pound |
1 |
Rs.83.54 |
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Euro |
1 |
Rs.63.40 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.