MIRA INFORM REPORT
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Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
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Name : |
DOLPHINS BISUTERIA SA |
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Registered Office : |
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Country : |
Spain |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.12.1992 |
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Legal Form : |
Joint-stock Company |
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Line of Business : |
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No. of Employees
: |
7 |
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 : |
No Complaints |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Spain |
A2 |
A2 |
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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 |
Identification
DOLPHINS BISUTERIA SA
CIF/NIF: A80495021
Company situation: Active
Answer to the data in your request
In relation to your petition, we would like to indicate that it has not been possible to update the information requested in your petition, as the people in charge of the firm are on holidays.
EXECUTIVE SUMMARY
Identification
Current Business Name: DOLPHINS BISUTERIA SA
Other names: NO
Current Address: CALLE AMPARO, 2
Telephone number: 915288679
Trade Risk
Incidents: NO
R.A.I.: NO
EXPERIAN BUREAU EMPRESARIAL Bank and Multi - sectorial Defaults of
Payment: NO
Financial Information
Balance sheet latest sales (2010): 996.578,09 € (Mercantile Register)
Result: 2.027,6 €
Total Assets: 773.624,18 €
Share capital: 60.101,21 €
Employees: 7
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 23/12/1992
Activity: Wholesale of jewellery articles
(jewels, watches, etc.)
NACE 2009 CODE: 4648
International Operations: No business relationships registered
Corporate Structure
Administrator:
Other Complementary Information
Latest filed accounts in the Mercantile Register: 2010
Latest act published in BORME: 06/10/2011 Annual Filed Accounts
Latest press article: No press articles registered for this
company
Bank Entities: There are not
The date when this report was last updated is 31/07/2012.
Rating Explanation
Financial situation
The company’s financial situation is normal.
The company’s financial situation evolution has been negative.
The sales evolution and results has been negative.
Company Structure
The company’s capitalization degree determines that its structure
is normal.
The company’s size is very small depending on its sales
volume.
The employees evolution has been negative.
Performance and Incidences
The available information indicates that the company does not have
payment incidences.
He have detected no recent legal actions or claims from the
Administration against this company.
Accounts Filing
The company files regularly its accounts.
Reasons of the last outstanding calculation in the note
|
DATE |
CHANGE |
RESULTING NOTE |
EVENT |
|
16/11/2011 |
Reduction |
12 |
New financial statements have been uploaded. |
INCIDENTS
Summary
AFFECTED BY: No significant element.
R.A.I.
COMPANY NOT REGISTERED IN THE R.A.I.
This company is not registered in the Disputed Bills register (R.A.I.)
DATE AND TIME OF THE CONSULTATION
25/07/2012 13:07:03
Information from the Registro de Aceptaciones Impagados (RAI)- Disputed
Bills register.
It can only be used for information legitimate needs of the consulting
party, in accordance with its social or business activity, in order to grant a
credit or the monitoring or control of the already granted credits and can not
be transmitted or communicated to thirds, nor copied, duplicated, reproduced
nor implemented to any database , owned or external, or reused it in anyway, direct
or indirectly.
FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE
FINANCIAL ELEMENTS
Figures given in €
|
|
31/12/2010 (12) BALANCE SHEET |
% ASSETS |
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
31/12/2008 (12) BALANCE SHEET |
% ASSETS |
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ASSETS |
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A) NON CURRENT ASSETS |
479,59 |
0,06 |
479,59 |
0,06 |
479,59 |
0,08 |
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B) CURRENT ASSETS |
773.144,59 |
99,94 |
776.335,41 |
99,94 |
608.940,41 |
99,92 |
|
LIABILITIES |
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|
A) NET WORTH |
157.510,22 |
20,36 |
155.482,62 |
20,02 |
152.851,66 |
25,08 |
|
B) NON CURRENT LIABILITIES |
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|
|
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|
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C) CURRENT LIABILITIES |
616.113,96 |
79,64 |
621.332,38 |
79,98 |
456.568,34 |
74,92 |
Profit and loss account analysis
Figures given in €
|
|
31/12/2010 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2008 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
996.578,09 |
|
1.154.510,94 |
|
941.007,67 |
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GROSS MARGIN |
275.416,83 |
27,64 |
326.526,98 |
28,28 |
355.018,08 |
37,73 |
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EBITDA |
6.352,55 |
0,64 |
8.687,35 |
0,75 |
2.541,81 |
0,27 |
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EBIT |
6.352,55 |
0,64 |
8.687,35 |
0,75 |
2.541,81 |
0,27 |
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NET RESULT |
2.027,60 |
0,20 |
2.630,96 |
0,23 |
334,40 |
0,04 |
|
EFFECTIVE TAX RATE (%) |
21,00 |
0,00 |
20,00 |
0,00 |
25,00 |
0,00 |
COMPARATIVE SECTOR ANALYSIS
Values table
Figures expressed in %
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COMPANY (2010) |
SECTOR |
DIFFERENCE |
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BALANCE SHEET ANALYSIS: % on the total assets |
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ASSETS |
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A) NON CURRENT ASSETS |
0,06 |
29,74 |
-29,68 |
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A) CURRENT ASSETS |
99,94 |
70,26 |
29,68 |
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LIABILITIES |
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A) NET WORTH |
20,36 |
38,54 |
-18,18 |
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B) NON CURRENT LIABILITIES |
|
18,98 |
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|
|
|
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C) CURRENT LIABILITIES |
79,64 |
42,48 |
37,16 |
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COMPANY (2010) |
SECTOR |
DIFFERENCE |
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PROFIT AND LOSS ACCOUNT ANALYSIS: % on the total operating income |
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SALES |
100,00 |
98,66 |
1,34 |
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GROSS MARGIN |
27,64 |
42,93 |
-15,29 |
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EBITDA |
0,64 |
3,66 |
-3,03 |
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EBIT |
0,64 |
2,27 |
-1,63 |
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NET RESULT |
0,20 |
0,30 |
-0,10 |
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Sector Composition
Compared sector (NACE 2009): 4648
Number of companies: 187
Size (sales figure): 0 - 2,800,000.00 Euros
OTHER DATA FROM THE ANNUAL FINANCIAL REPORT
Results Distribution
Source: annual financial report 2010
Figures given in €
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DISTRIBUTION BASE |
APPLICATION A |
||
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Profit and Loss Account Balance |
2.027,60 |
Legal Reserve |
0,00 |
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Carry over |
0,00 |
Goodwill reserve |
0,00 |
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Voluntary reserves |
0,00 |
Special reserves |
0,00 |
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Other reserves disposable at will |
0,00 |
Voluntary reserves |
2.027,60 |
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Total of Amounts to be distributed |
2.027,60 |
Dividends |
0,00 |
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Carry over and others |
0,00 |
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Compensation of previous exercises losses |
0,00 |
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Application total |
2.027,60 |
ADDRESSES
Current Legal Seat Address:
CALLE AMPARO, 2
28012 MADRID
Characteristics of the current address
Type of establishment: store
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
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Distribution of the administration board |
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Governing body : 2 members (latest change:
21/11/2007) Non-current positions : 2 (latest change: 30/11/2001) |
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Main Board members, Directors and Auditor
Governing body
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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ADMINISTRATOR |
HAMDAN HAMDAN, GHASSAN |
21/11/2007 |
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ADMINISTRATOR |
HAMDAN RODRIGUEZ, LAURA |
21/11/2007 |
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Board members remuneration
Source: Annual financial report 2010
Board members
remuneration: 0,00 €
POTENTIAL LINKS
Search Criterion: ”DOLPHINS BISUTERIA SL”
URL: madrid.infoisinfo.es
Colgantes En Madrid Bisuteria Eclypse Import Export S.L. ·
Bisuteria ... El Duende Bisuteria Complementos Bolsos Y Regalos S.L.. C/
Vinaroz, 2 ... Dolphins Bisuteria S.A.. C / Amparo ...
BUSINESS INFORMATION
Incorporation date: 23/12/1992
Code: 1619300
Activity: Wholesale of jewellery articles (jewels, watches,
etc.)
NACE 2009 CODE: 4648
NACE 2009 Activity: Wholesale of watches and jewellery
Business: COMERCIO AL POR MAYOR Y DETALL DE BISUTERIA
ORDINARIA, GENEROS DE PUNTO, ROPA INTERIOR Y EXTERIOR DE SENORA, CABALLERO Y
NINO, COMPLEMENTOS PARA EL VESTIDO Y TOCADO.
Latest employees figure: 7 (2010)
% of fixed employees: 85,71%
% of temporary employees: 14,29%
No bank branches registered
Constitution Data
Register Date: 23/12/1992
Register town: Madrid
Announcement number: 66266
Legal form: Joint-stock Company
Share capital: 60.101,21 €
Paid-up capital: 60.101,21 €
Obligation to fill in Financial Statements: YES
Chamber census: YES (2010)
B.O.R.M.E.
(OFFICIAL GAZETTE OF THE MERCANTILE REGISTER)
Acts on activity: 0
Acts on administrators: 5 (Last: 21/11/2007, first:
24/02/1993)
Acts on capital: 0
Acts on creation: 1 (Last: 24/02/1993)
Acts on filed accounts: 18 (Last: 06/10/2011, first:
02/09/1994)
Acts on identification: 0
Acts on Information: 1 (Last: 30/11/2001)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
|
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Annual Filed Accounts (2010) |
06/10/2011 |
727259 |
Madrid |
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|
|
Filed Accounts date: September from 2011 Exercise to which the accounts belong: 2010 Filed Accounts type: Individual Filed accounts available online: DOWNLOAD (+1.0 unit)
ZIPThis product is out of the fee for OPEN contracts63872012010PDFThis
product is out of the fee for OPEN contracts63872012010TIFFThis product is
out of the fee for OPEN contracts63872012010 Publication Data:
Register Madrid, Gazette 191, Page
55471, Announcement 727259 (06/10/2011) |
|||
Other acts
|
ACT |
DATE |
NOTICE NUM. |
MERCANTILE REGISTER |
|
Annual Filed Accounts (2009) |
25/11/2010 |
1106069 |
Madrid |
|
Annual Filed Accounts (2008) |
05/10/2009 |
583926 |
Madrid |
|
Annual Filed Accounts (2007) |
22/09/2008 |
608536 |
Madrid |
|
Annual Filed Accounts (2006) |
05/12/2007 |
1139286 |
Madrid |
|
Re-elections |
21/11/2007 |
575842 |
Madrid |
|
Annual Filed Accounts (2005) |
17/10/2006 |
766559 |
Madrid |
|
Annual Filed Accounts (2004) |
07/12/2005 |
1014004 |
Madrid |
|
Annual Filed Accounts (2003) |
24/08/2004 |
239436 |
Madrid |
|
Annual Filed Accounts (2002) |
22/10/2003 |
683692 |
Madrid |
There are 25 acts registered
Complementary Information
Financial Information
El balance cerrado a 31/12/2009 (Deposito 2009) esta disponible en, pero
existen datos en los nuevos estados contables incorrectamente presentados.
El balance cerrado a 31/12/2008 (Deposito 2008) esta disponible en, pero
existen datos en los nuevos estados contables incorrectamente presentados.
FINANCIAL INFORMATION
The information on the last Individual Filed Accounts contained in this
report is extracted from the Mercantile Register file of the legal address of
the Company and dated 16/11/2011.
SITUATION BALANCE-SHEET
Assets
Figures given in €
|
|
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
479,59 |
0,06 |
479,59 |
0,06 |
479,59 |
0,08 |
|
I. Intangible assets |
|
|
|
|
|
|
|
II. Tangible fixed assets |
479,59 |
0,06 |
479,59 |
0,06 |
479,59 |
0,08 |
|
III. Real-estate investments |
|
|
|
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|
|
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IV. Long term investments in associated and affiliated companies |
|
|
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V. Long Term Financial Investments |
|
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VI. Assets by deferred taxes |
|
|
|
|
|
|
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VII. Non current commercial debts |
|
|
|
|
|
|
|
B) CURRENT ASSETS |
773.144,59 |
99,94 |
776.335,41 |
99,94 |
608.940,41 |
99,92 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Stocks |
729.000,00 |
94,23 |
648.000,00 |
83,42 |
598.000,00 |
98,13 |
|
III. Trade Debtors and other receivable accounts |
11.077,63 |
1,43 |
103.216,96 |
13,29 |
2.031,44 |
0,33 |
|
1. Clients |
11.077,63 |
1,43 |
103.216,96 |
13,29 |
|
|
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b) Clients for sales and short term services
rendering |
11.077,63 |
1,43 |
103.216,96 |
13,29 |
|
|
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3. Other debtors |
|
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|
2.031,44 |
0,33 |
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IV. Short term investments in associated and affiliated companies |
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V. Short term financial investments |
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VI. Short term periodifications |
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VII. Cash and equivalents |
33.066,96 |
4,27 |
25.118,45 |
3,23 |
8.908,97 |
1,46 |
|
TOTAL ASSETS (A + B) |
773.624,18 |
100,00 |
776.815,00 |
100,00 |
609.420,00 |
100,00 |
Net Worth and Liabilities
Figures given in €
|
|
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
31/12/2008 (12) |
% ASSETS |
|
A) NET WORTH |
157.510,22 |
20,36 |
155.482,62 |
20,02 |
152.851,66 |
25,08 |
|
A-1) Equity |
157.510,22 |
20,36 |
155.482,62 |
20,02 |
152.851,66 |
25,08 |
|
I. Capital |
60.101,21 |
7,77 |
60.101,21 |
7,74 |
60.101,21 |
9,86 |
|
1. Authorized capital |
60.101,21 |
7,77 |
60.101,21 |
7,74 |
60.101,21 |
9,86 |
|
II. Issue premium |
|
|
|
|
|
|
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III. Reserves |
95.381,41 |
12,33 |
92.750,45 |
11,94 |
92.416,05 |
15,16 |
|
IV. (Net worth own shares and participations) |
|
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V. Results from previous years |
|
|
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VI. Other loans from partners |
|
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VII. Exercise Result |
2.027,60 |
0,26 |
2.630,96 |
0,34 |
334,40 |
0,05 |
|
VIII. (Interim dividend) |
|
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IX. Other net worth instruments |
|
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A-2) Value changes adjustments |
|
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A-3) Received legacies, grants and subventions |
|
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B) NON CURRENT LIABILITIES |
|
|
|
|
|
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I. Long term provisions |
|
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|
|
|
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II. Long term debts |
|
|
|
|
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III. Long term debts with associated and affiliated companies |
|
|
|
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|
|
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IV. Liabilities by deferred taxes |
|
|
|
|
|
|
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V. Long term periodifications |
|
|
|
|
|
|
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VI. Non current trade creditors |
|
|
|
|
|
|
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VII. Long term debts with special characteristics |
|
|
|
|
|
|
|
C) CURRENT LIABILITIES |
616.113,96 |
79,64 |
621.332,38 |
79,98 |
456.568,34 |
74,92 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
|
|
III. Short term debts |
600.000,00 |
77,56 |
600.000,00 |
77,24 |
433.000,00 |
71,05 |
|
3. Other short term debts |
600.000,00 |
77,56 |
600.000,00 |
77,24 |
433.000,00 |
71,05 |
|
IV. Short term debts with associated and affiliated companies |
|
|
|
|
|
|
|
V. Trade creditors and other payable accounts |
16.113,96 |
2,08 |
21.332,38 |
2,75 |
23.568,34 |
3,87 |
|
2. Other creditors |
16.113,96 |
2,08 |
21.332,38 |
2,75 |
23.568,34 |
3,87 |
|
VI. Short term periodifications |
|
|
|
|
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
773.624,18 |
100,00 |
776.815,00 |
100,00 |
609.420,00 |
100,00 |
PROFIT AND LOSS ACCOUNT
Figures given in €
|
|
31/12/2010 (12) |
%OPERATING INCOME |
31/12/2009 (12) |
%OPERATING INCOME |
31/12/2008 (12) |
%OPERATING INCOME |
|
1. Net Turnover |
996.578,09 |
100,00 |
1.154.510,94 |
100,00 |
941.007,67 |
100,00 |
|
2. Variation in stocks of finished goods and work in progress |
|
|
|
|
|
|
|
3. Works for its own assets |
|
|
|
|
|
|
|
4. Supplies |
-721.161,26 |
-72,36 |
-827.983,96 |
-71,72 |
-585.989,59 |
-62,27 |
|
5. Other operating income |
|
|
|
|
|
|
|
6. Labour cost |
-195.522,13 |
-19,62 |
-228.625,04 |
-19,80 |
-229.520,44 |
-24,39 |
|
7. Other operating costs |
-73.542,15 |
-7,38 |
-89.214,59 |
-7,73 |
-122.955,83 |
-13,07 |
|
8. Amortization of fixed assets |
|
|
|
|
|
|
|
9. Allocation of subventions on non financial investments and other |
|
|
|
|
|
|
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10. Provisions excess |
|
|
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
|
|
|
|
|
|
|
12. Negative difference of business combinations |
|
|
|
|
|
|
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13. Other results |
|
|
|
|
|
|
|
A) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12
+ 13) |
6.352,55 |
0,64 |
8.687,35 |
0,75 |
2.541,81 |
0,27 |
|
14. Financial income |
|
|
182,47 |
0,02 |
|
|
|
b) Other financial income |
|
|
182,47 |
0,02 |
|
|
|
15. Financial expenses |
-3.785,97 |
-0,38 |
-5.581,13 |
-0,48 |
-2.230,95 |
-0,24 |
|
16. Reasonable value variation on financial instruments |
|
|
|
|
|
|
|
17. Exchange differences |
|
|
|
|
135,00 |
0,01 |
|
18. Deterioration and result for disposal of financial instruments |
|
|
|
|
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
|
|
B) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-3.785,97 |
-0,38 |
-5.398,66 |
-0,47 |
-2.095,95 |
-0,22 |
|
C) RESULT BEFORE TAXES (A + B) |
2.566,58 |
0,26 |
3.288,69 |
0,28 |
445,86 |
0,05 |
|
20. Taxes on profits |
-538,98 |
-0,05 |
-657,73 |
-0,06 |
-111,46 |
-0,01 |
|
D) EXERCISE RESULT (C + 20) |
2.027,60 |
0,20 |
2.630,96 |
0,23 |
334,40 |
0,04 |
NET WORTH CHANGES STATUS
Status of recognized income and expenses
For the financial statements presented under the SME’s model (PYMES),
the ‘Net Worth Changes Status’ is formed by a single table. For the rest of the
cases there would be shown the two tables corresponding to the mentioned status
with the exception of the company not having operations reflected in the
‘Status of recognized income and expenses’ and that, for this reason, it has no
data.
Total net worth changes status
Figures given in €
|
NET WORTH CHANGES ( 1 /1) |
AUTHORIZED
CAPITAL |
RESERVES |
EXERCISE RESULT |
TOTAL |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2007) |
60.101,21 |
52.979,09 |
9.230,15 |
122.310,45 |
|
I. Adjustments by change of criteria in the exercise (2007) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2007) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2008) |
60.101,21 |
52.979,09 |
9.230,15 |
122.310,45 |
|
I. Total recognized income and expenses |
|
|
334,40 |
334,40 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
9.230,15 |
-9.230,15 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
60.101,21 |
62.209,24 |
-8.895,75 |
113.414,70 |
|
I. Adjustments by change of criteria in the exercise (2008) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2008) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2009) |
60.101,21 |
62.209,24 |
334,40 |
122.644,85 |
|
I. Total recognized income and expenses |
|
|
2.630,96 |
2.630,96 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
334,40 |
-334,40 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
60.101,21 |
92.750,45 |
2.630,96 |
155.482,62 |
|
I. Adjustments by change of criteria in the exercise (2009) |
|
|
|
|
|
II. Adjustments by errors in the exercise (2009) |
|
|
|
|
|
ADJUSTED ACCOUNT BALANCE, BEGINNING OF EXERCISE (2010) |
60.101,21 |
92.750,45 |
2.630,96 |
155.482,62 |
|
I. Total recognized income and expenses |
|
|
2.027,60 |
2.027,60 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
2.630,96 |
-2.630,96 |
|
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
60.101,21 |
95.381,41 |
2.027,60 |
157.510,22 |
RATIOS
|
|
31/12/2010 (12) |
CHANGE % |
31/12/2009 (12) |
CHANGE % |
31/12/2008 (12) |
|
BALANCE RATIOS |
|||||
|
Working Capital (€) |
157.030,63 |
1,31 |
155.003,03 |
1,73 |
152.372,07 |
|
Working capital ratio |
0,20 |
0,00 |
0,20 |
-20,00 |
0,25 |
|
Soundness Ratio |
328,43 |
1,30 |
324,20 |
1,72 |
318,71 |
|
Average Collection Period (days) |
4 |
-87,64 |
32 |
4.350,00 |
1 |
|
Average Payment Period (days) |
7 |
-13,04 |
8 |
-30,30 |
12 |
|
LIQUIDITY RATIOS |
|||||
|
Current Ratio (%) |
125,49 |
0,43 |
124,95 |
-6,31 |
133,37 |
|
Quick Ratio (%) |
5,37 |
32,92 |
4,04 |
107,18 |
1,95 |
|
DEBT RATIOS |
|||||
|
Borrowing percentage (%) |
77,56 |
0,41 |
77,24 |
8,71 |
71,05 |
|
External Financing Average Cost |
0,01 |
0,00 |
0,01 |
0,00 |
0,00 |
|
Debt Service Coverage |
295,92 |
29,76 |
228,05 |
-82,39 |
1.294,86 |
|
Interest Coverage |
1,68 |
7,69 |
1,56 |
36,84 |
1,14 |
|
GENERAL AND ACTIVITIES RATIOS |
|||||
|
Auto financing generated by sales (%) |
0,20 |
-13,04 |
0,23 |
475,00 |
0,04 |
|
Auto financing generated by Assets (%) |
0,26 |
-23,53 |
0,34 |
466,67 |
0,06 |
|
Breakdown Point |
1,01 |
0,00 |
1,01 |
1,00 |
1,00 |
|
Average Sales Volume per Employee |
142.368,30 |
4,82 |
135.824,82 |
-13,40 |
156.834,61 |
|
Average Cost per Employee |
27.931,73 |
3,85 |
26.897,06 |
-29,69 |
38.253,41 |
|
Assets Turnover |
1,29 |
-13,42 |
1,49 |
-3,25 |
1,54 |
|
Inventory Turnover (days) |
364 |
29,12 |
282 |
-23,24 |
367 |
|
RESULTS RATIOS |
|||||
|
Return on Assets (ROA) (%) |
0,82 |
-26,79 |
1,12 |
166,67 |
0,42 |
|
Operating Profitability (%) |
0,82 |
-26,79 |
1,12 |
166,67 |
0,42 |
|
Return on Equity (ROE) (%) |
1,63 |
-23,11 |
2,12 |
631,03 |
0,29 |
SECTORIAL ANALYSIS
Balance Sheet and Financial Balance
Figures expressed in %
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
BALANCE SHEET ANALYSIS: % on the total assets |
|
|
|
|
ASSETS |
|||
|
A) NON CURRENT ASSETS |
0,06 |
29,74 |
-29,68 |
|
A) CURRENT ASSETS |
99,94 |
70,26 |
29,68 |
|
LIABILITIES |
|||
|
A) NET WORTH |
20,36 |
38,54 |
-18,18 |
|
B) NON CURRENT LIABILITIES |
|
18,98 |
|
|
C) CURRENT LIABILITIES |
79,64 |
42,48 |
37,16 |
|
|
|
|
|
Results Analytical Account
Figures given in %
|
|
COMPANY (2010) |
SECTOR |
DIFFERENCE |
|
Net Turnover |
100,00 |
98,66 |
1,34 |
|
Other operating income |
|
1,34 |
|
|
OPERATING INCOME |
100,00 |
100,00 |
0,00 |
|
Supplies |
-72,36 |
-57,96 |
-14,40 |
|
Variation in stocks of finished goods and work in progress |
|
0,89 |
|
|
GROSS MARGIN |
27,64 |
42,93 |
-15,29 |
|
Other operating costs |
-7,38 |
-18,91 |
11,53 |
|
Labour cost |
-19,62 |
-20,89 |
1,27 |
|
GROSS OPERATING RESULT |
0,64 |
3,13 |
-2,49 |
|
Amortization of fixed assets |
|
-2,03 |
|
|
Deterioration and result for fixed assets disposal |
|
0,62 |
|
|
Other expenses / income |
|
0,54 |
|
|
NET OPERATING RESULT |
0,64 |
2,27 |
-1,63 |
|
Financial result |
-0,38 |
-1,76 |
1,38 |
|
RESULT BEFORE TAX |
0,26 |
0,50 |
-0,24 |
|
Taxes on profits |
-0,05 |
-0,20 |
0,15 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
0,20 |
0,30 |
-0,10 |
|
Exercise result coming from discontinued operations net of taxes |
|
0,00 |
|
|
NET RESULT |
0,20 |
0,30 |
-0,10 |
|
Amortization of fixed assets |
|
-2,03 |
|
|
Deterioration and provisions variation |
|
0,63 |
|
|
|
0,20 |
1,70 |
-1,50 |
Main Ratios
Figures given in €
|
|
COMPANY (2010) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital (€) |
157.030,63 |
21.863,24 |
106.568,57 |
282.447,51 |
|
Working capital ratio |
0,20 |
0,09 |
0,28 |
0,47 |
|
Soundness Ratio |
328,43 |
0,68 |
1,87 |
5,24 |
|
Average Collection Period (days) |
4 |
14 |
55 |
116 |
|
Average Payment Period (days) |
7 |
76 |
133 |
224 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
125,49 |
117,02 |
151,74 |
227,99 |
|
Quick Ratio (%) |
5,37 |
4,65 |
15,36 |
48,57 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
77,56 |
11,58 |
30,71 |
51,75 |
|
External Financing Average Cost |
0,01 |
0,02 |
0,04 |
0,08 |
|
Debt Service Coverage |
295,92 |
0,00 |
5,34 |
11,45 |
|
Interest Coverage |
1,68 |
-0,10 |
1,51 |
4,37 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
0,20 |
0,48 |
2,99 |
5,59 |
|
Auto financing generated by Assets (%) |
0,26 |
0,76 |
2,62 |
5,60 |
|
Breakdown Point |
1,01 |
1,00 |
1,03 |
1,06 |
|
Average Sales Volume per Employee |
142.368,30 |
67.476,54 |
107.900,23 |
171.134,69 |
|
Average Cost per Employee |
27.931,73 |
17.490,17 |
23.246,93 |
30.134,70 |
|
Assets Turnover |
1,29 |
0,57 |
0,90 |
1,33 |
|
Inventory Turnover (days) |
364 |
127 |
317 |
600 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
0,82 |
-0,26 |
2,67 |
5,73 |
|
Operating Profitability (%) |
0,82 |
0,98 |
4,80 |
8,43 |
|
Return on Equity (ROE) (%) |
1,63 |
-4,30 |
4,13 |
14,51 |
-
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.55.78 |
|
|
1 |
Rs.86.75 |
|
Euro |
1 |
Rs.68.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.