MIRA
INFORM REPORT
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Report Date : |
07.02.2012 |
IDENTIFICATION DETAILS
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Name : |
GEMAS DE INDIA 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 : |
01.02.1989 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
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No. of Employees : |
RATING & COMMENTS
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MIRAs 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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
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 |
Company name
GEMAS DE INDIA SA
CIF/NIF: A78879749
Company situation: Active
INFORMATION OF THE REQUEST
Data of your request
|
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Registered Name GEMAS DE INDIA
SA Complete Address GENERAL
MOSCARDO, 1 Request reason max
credit |
EXECUTIVE SUMMARY
Identification
Current Business Name: GEMAS DE INDIA SA
Other names: NO
Current Address: CALLE GENERAL MOSCARDO, 1
Telephone number: 915544500 Fax: 915547943
Corporate e-mail: gedin27@hotmail.com
Trade Risk
Incidents: YES
R.A.I.: NO
Financial Information
Balance sheet latest sales (2010): 962.513,92 (Commercial Registry)
Result: 38.298,74
Total Assets: 2.966.364,65
Share capital: 60.101,21
Employees: 3
Listed on a Stock Exchange: NO
Commercial Information
Incorporation date: 01/02/1989
Activity: Wholesale of jewellery articles
(jewels, watches, etc.)
NACE 2009 CODE: 4648
International Operations: Imports and Exports
Corporate Structure
Sole Administrator:
Other Complementary Information
Latest filed accounts in the Commercial Registry: 2010
Latest act published in BORME: 17/10/2011 Annual Filed Accounts
Latest press article: 31/05/2005 MARCA (LEGAL
ANNOUNCEMENTS)
Bank Entities: There are
The date when this report was last updated is 06/02/2012.
The information contained in this report has been investigated and
contrasted on 06/02/2012
Financial Situation
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Exercise:2010 |
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Treasury |
Excellent |
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Indebtedness |
Important |
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Profitability |
Average |
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Balance |
Excellent |
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Performance
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Incidents |
Exceptional |
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Business
Trajectory |
Good |
Financial Situation
The companys financial situation is good.
The sales evolution and results has
been positive.
Company Structure
The companys capitalization degree determines that
its structure is normal.
The companys size is very
small depending on its sales volume.
The employees evolution has been stable.
Performance and Incidences
The available information indicates that the
company does have some barely significant 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 |
|
31/01/2012 |
Equal |
16 |
There has been a variation in the affected
parties of the companys non-payments information. |
|
05/12/2011 |
Equal |
16 |
There has been a variation in the affected
parties of the companys non-payments information. |
|
11/11/2011 |
Increase |
16 |
New financial statements have been uploaded. |
|
07/11/2011 |
Equal |
12 |
There has been a variation in the affected
parties of the companys non-payments information. |
|
17/10/2011 |
Equal |
12 |
There has been a change in the formula version.
Obsolescence of the available financial
information. |
Summary
LEGAL ACTIONS: No legal actions
ADMINISTRATIVE CLAIMS: 1 ( Last:30/01/2006 )
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With the Social Security: |
0 |
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With the Tax Authorities: |
0 |
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With Other Official bodies: |
1 |
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AFFECTED BY: No significant element.
Latest Administrative
Claims
figures expressed in
WITH OTHER OFFICIAL BODIES.
Seizures
|
DATE |
ORGANIZATION |
AMOUNT |
|
30/01/2006 |
TOWN/ CITY HALL DE MADRID |
|
Detail of the Latest Administrative Claims
figures expressed in
Seizures
WITH OTHER OFFICIAL BODIES.
Phase: SEIZURE
Organization: TOWN/ CITY HALL DE MADRID
Concept: Taxes
Date of the claim: 30/01/2006
Source: Published in the Gazette of MADRID Appendix 01, on 20/02/2006, page 91
Summary
All the unpaid contracts of the company are in a
friendly collection situation.
It has not fulfilled its contract obligations with
financial entities and a varied series of companies. It has to be stressed
that 100,00% of the unpaid amount corresponds to contracts with the
financial system.
The 100,00% of the non-fulfilment of
payment obligations have more than 3 months. The 50,00% of the
non-fulfilment of payment obligations have more than 6 months reaching
the non-fulfilment of payment obligation, regarding the total unpaid debt, with
more than 6 months 71,37% .
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CHARACTERISTICS OF THE OPERATION |
NON-PAYMENT CHARACTERISTICS |
||||||
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Creditor Type |
Product |
Amount of the operations |
Situation |
Number of non-payments |
Non-payment amount |
Date of the first non-payment |
Date of the last non-payment |
|
Bank |
Current Account Overdraft |
- |
> 180 days from the first expired default |
- |
1.332,42 |
04/08/2011 |
04/08/2011 |
|
Bank |
Current Account Overdraft |
- |
Between 90 and 120 days from the 1st expired default |
- |
534,59 |
18/10/2011 |
18/10/2011 |
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1.867,01 |
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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
31/01/2012 10:01:55
Information from the Registro de Aceptaciones Impagados (RAI)- Disputed
Bills register.
FINANCIAL ELEMENTS AND SECTORIAL COMPARATIVE
FINANCIAL ELEMENTS
Figures given in
|
|
31/12/2010 (12) BALANCE SHEET |
% ASSETS |
31/12/2009 (12) BALANCE SHEET |
% ASSETS |
|
ASSETS |
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|
A) NON CURRENT ASSETS |
599.874,38 |
20,22 |
636.490,39 |
24,43 |
|
B) CURRENT ASSETS |
2.366.490,27 |
79,78 |
1.968.909,68 |
75,57 |
|
LIABILITIES |
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A) NET WORTH |
587.700,66 |
19,81 |
549.401,92 |
21,09 |
|
B) NON CURRENT LIABILITIES |
871.099,35 |
29,37 |
857.822,08 |
32,92 |
|
C) CURRENT LIABILITIES |
1.507.564,64 |
50,82 |
1.198.176,07 |
45,99 |
Profit and Loss Account
Analysis 
Figures given in
|
|
31/12/2010 (12) BALANCE SHEET |
% NET TURNOVER |
31/12/2009 (12) BALANCE SHEET |
% NET TURNOVER |
|
SALES |
962.513,92 |
|
707.048,54 |
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GROSS MARGIN |
461.602,28 |
47,96 |
417.739,98 |
59,08 |
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EBITDA |
145.524,43 |
15,12 |
120.154,98 |
16,99 |
|
EBIT |
106.268,42 |
11,04 |
89.130,88 |
12,61 |
|
NET RESULT |
38.298,74 |
3,98 |
-9.107,40 |
-1,29 |
|
EFFECTIVE TAX RATE (%) |
20,26 |
0,00 |
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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 |
20,22 |
29,74 |
-9,51 |
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A) CURRENT ASSETS |
79,78 |
70,26 |
9,51 |
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LIABILITIES |
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A) NET WORTH |
19,81 |
38,54 |
-18,73 |
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B) NON CURRENT LIABILITIES |
29,37 |
18,98 |
10,38 |
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C) CURRENT LIABILITIES |
50,82 |
42,48 |
8,35 |
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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 |
47,96 |
42,93 |
5,03 |
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EBITDA |
15,12 |
3,66 |
11,45 |
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EBIT |
11,04 |
2,27 |
8,77 |
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NET RESULT |
3,98 |
0,30 |
3,68 |
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Sector Composition
Compared sector (NACE 2009): 4648
Number of companies: 187
Size (sales figure): 0 - 2,800,000.00 Euros
ADDRESSES
Current Legal Seat Address:
CALLE GENERAL MOSCARDO, 1
28020 MADRID
Previous Seat Address:
CALLE MELCHOR FERNANDEZ ALMAGRO 20
28029 MADRID
Characteristics of the current address
Type of establishment: office
Local Situation: main
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STREET |
POSTAL CODE |
TOWN |
PROVINCE |
|
CALLE CAPITAN HAYA, 19 |
28020 |
MADRID |
Madrid |
CORPORATE STRUCTURE
ADMINISTRATIVE LINKS
Governing body : 1 member (latest change:
11/02/2009)
Other Positions : 1 (latest change: 17/11/1999)
Operative Board Members : 2 (latest change: 29/05/2008)
Non-current positions : 8 (latest change: 25/02/1994)
Main Board members, Directors and Auditor
Governing body
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POSITION |
NAME AND SURNAME |
DATE APPOINTMENT |
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SOLE ADMINISTRATOR |
MANGHNANI SAJAN, RAGHU |
11/02/2009 |
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POSITION |
NAME AND SURNAME |
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Manager |
MANGHNANI SAJAN, RAGHU |
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Financial Manager |
MANGHNANI SAJAN, RAGHU |
FINANCIAL LINKS
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|
BUSINESS NAME |
TAX NUMBER/COUNTRY |
% |
SOURCE |
DATE REP. |
|
|
MANGHNANI SAJAN RAGHU |
|
Indef. |
OWN SOURCES |
06/02/2012 |
POTENTIAL LINKS
Search for Link by Administrator
Search Criterion: RAGHU MANGHNANI SAJAN
|
COMPANY |
POSITION |
PROVINCE |
|
GOLD DIAM S.L. |
Administrador Ϊnico |
MADRID |
In case you need more information you can request:Board Members
Monitoring
BUSINESS INFORMATION
Incorporation date: 01/02/1989
NACE 2009 CODE: 4648
NACE 2009 Activity: Wholesale of watches and jewellery
Business: IMPORTACION, EXPORTACION, FABRICACION, TENENCIA,
DISTRIBUCION, COMPRA, VENTA Y COMERCIALIZACION, AL POR MAYOR Y MENOR, DE TODA
CLASE DE PRODUCTOS, DERECHOS Y EQUIPOS RELATIVOS A LA TELEFONIA. INCLUSO
TARJETAS DE OPERADOR
Activity description: Comercio al por mayor de artνculos de
joyeria y piedras preciosas.
Latest employees figure: 3 (2012)
% of fixed employees: 100,00%
Employees evolution
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ENTITY |
BRANCH |
ADDRESS |
TOWN OR CITY |
PROVINCE |
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BANCO DE CAJA ESPAΡA INVER. SALAMANCA Y SORIA,S.A. |
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LEGAL STRUCTURE
Constitution Data
Register Date: 01/02/1989
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 COMMERCIAL REGISTRY)
Acts on activity: 1 (Last: 05/07/2005)
Acts on administrators: 7 (Last: 11/02/2009, first:
10/12/1992)
Acts on capital: 1 (Last: 10/12/1992)
Acts on creation: 0
Acts on filed accounts: 17 (Last: 17/10/2011, first:
19/01/1994)
Acts on identification: 2 (Last: 28/05/2004, first:
29/09/1995)
Acts on Information: 2 (Last: 25/02/1994, first:
10/12/1992)
Latest acts in B.O.R.M.E.
Most relevant acts of the last twelve months
|
|
ACT |
DATE |
NOTICE NUM. |
COMMERCIAL REGISTRY |
|
Annual Filed Accounts (2010) |
17/10/2011 |
808134 |
Madrid |
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Other acts
|
ACT |
DATE |
NOTICE NUM. |
COMMERCIAL REGISTRY |
|
Annual Filed Accounts (2009) |
08/11/2010 |
1004113 |
Madrid |
|
Annual Filed Accounts (2008) |
15/12/2009 |
1013172 |
Madrid |
|
Re-elections |
11/02/2009 |
74610 |
Madrid |
|
Annual Filed Accounts (2007) |
22/10/2008 |
939276 |
Madrid |
|
Annual Filed Accounts (2006) |
21/11/2007 |
1051539 |
Madrid |
|
Annual Filed Accounts (2005) |
07/12/2006 |
965461 |
Madrid |
|
Annual Filed Accounts (2004) |
15/11/2005 |
925583 |
Madrid |
|
Registered activity enlargement |
05/07/2005 |
304443 |
Madrid |
|
Annual Filed Accounts (2003) |
10/12/2004 |
924332 |
Madrid |
Press summary by type of information (last five years)
Legal notices: 0
Structural Data: 0
Informative data: 0
Financial Information: 0
Negative information: 0
Business lines: 0
Historical press releases: 3 (Last: 31/05/2005, first: 10/02/1994)
Latest press article published
31/05/2005 MARCA - LEGAL ANNOUNCEMENTS
ON BOARD GRAL. HELD ON
18/05/05 RESOLVED UNANIMOUSLY AMENDMENT OF CORPORATE PURPOSE ADDING THE FOLLOWING ACTIVITIES: THE IMPORT, EXPORT, MANUFACTURE, POSSESSION, DISTRIBUTION, BUYING, SELLING AND MARKETING,
WHOLESALE AND RETAIL OF ALL KINDS OF
PRODUCTS, RIGHTS AND EQUIPMENT
FOR THE PHONE,
THE IMAGE, THE SOUND,
THE TELEVISION AND
AUDIOVISUAL AND OTHER
MEDIA TELECOMMUNICATIONS, AND IN GENERAL,
THE ELECTRONIC.
29/01/2004 LA GACETA - LEGAL ANNOUNCEMENTS
GRAL BOARD. THIS SDAD.,
HELD ON 02/01/04, agreed to move the
headquarters to LA C / GENERAL MOSCARDO
N.1, 28020 MADRID.
10/02/1994 LA GACETA - LEGAL ANNOUNCEMENTS
CIA. PROCEED THE CHANGE
OF HIS ADDRESS C
/ Capitan Haya, N.19, MADRID, THE C / Melchor
Fernandez Almagro, N.20 MADRID,
BY AGREEMENT OF
GENERAL MEETING 02/01/94 UNIVERSAL.
FINANCIAL INFORMATION
The information on the last Individual Filed Accounts contained in this
report is extracted from the Commercial Registry file of the legal address of
the Company and dated 08/11/2011.
SITUATION BALANCE-SHEET
Assets
Figures given in
|
|
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
|
A) NON CURRENT ASSETS |
599.874,38 |
20,22 |
636.490,39 |
24,43 |
|
I. Intangible assets |
39.577,58 |
1,33 |
36.937,58 |
1,42 |
|
II. Tangible fixed assets |
560.296,80 |
18,89 |
599.552,81 |
23,01 |
|
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 |
|
|
|
|
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B) CURRENT ASSETS |
2.366.490,27 |
79,78 |
1.968.909,68 |
75,57 |
|
I. Non-current assets maintained for sale |
|
|
|
|
|
II. Stocks |
1.391.464,80 |
46,91 |
1.501.466,91 |
57,63 |
|
III. Trade Debtors and other receivable accounts |
975.025,47 |
32,87 |
467.442,77 |
17,94 |
|
1. Clients |
695.333,43 |
23,44 |
263.749,33 |
10,12 |
|
b) Clients for sales and short term services
rendering |
695.333,43 |
23,44 |
263.749,33 |
10,12 |
|
3. Other debtors |
279.692,04 |
9,43 |
203.693,44 |
7,82 |
|
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 |
|
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|
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TOTAL ASSETS (A + B) |
2.966.364,65 |
100,00 |
2.605.400,07 |
100,00 |
Net Worth and Liabilities
Figures given in
|
|
31/12/2010 (12) |
% ASSETS |
31/12/2009 (12) |
% ASSETS |
|
A) NET WORTH |
587.700,66 |
19,81 |
549.401,92 |
21,09 |
|
A-1) Equity |
587.700,66 |
19,81 |
549.401,92 |
21,09 |
|
I. Capital |
60.101,21 |
2,03 |
60.101,21 |
2,31 |
|
1. Authorized capital |
60.101,21 |
2,03 |
60.101,21 |
2,31 |
|
II. Issue premium |
|
|
|
|
|
III. Reserves |
402.039,50 |
13,55 |
402.039,50 |
15,43 |
|
IV. (Net worth own shares and participations) |
|
|
|
|
|
V. Results from previous years |
87.261,21 |
2,94 |
96.368,61 |
3,70 |
|
VI. Other loans from partners |
|
|
|
|
|
VII. Exercise Result |
38.298,74 |
1,29 |
-9.107,40 |
-0,35 |
|
VIII. (Interim dividend) |
|
|
|
|
|
IX. Other net worth instruments |
|
|
|
|
|
A-2) Value changes adjustments |
|
|
|
|
|
A-3) Received legacies, grants and subventions |
|
|
|
|
|
B) NON CURRENT LIABILITIES |
871.099,35 |
29,37 |
857.822,08 |
32,92 |
|
I. Long term provisions |
|
|
|
|
|
II. Long term debts |
871.099,35 |
29,37 |
857.822,08 |
32,92 |
|
1. Debts with bank entities |
637.299,76 |
21,48 |
648.634,49 |
24,90 |
|
3. Other long term debts |
233.799,59 |
7,88 |
209.187,59 |
8,03 |
|
III. Long term debts with associated and affiliated companies |
|
|
|
|
|
IV. Liabilities by deferred taxes |
|
|
|
|
|
V. Long term periodifications |
|
|
|
|
|
VI. Non current trade creditors |
|
|
|
|
|
VII. Long term debts with special characteristics |
|
|
|
|
|
C) CURRENT LIABILITIES |
1.507.564,64 |
50,82 |
1.198.176,07 |
45,99 |
|
I. Liabilities related with non-current assets maintained for sale |
|
|
|
|
|
II. Short term provisions |
|
|
|
|
|
III. Short term debts |
731.382,31 |
24,66 |
559.116,07 |
21,46 |
|
3. Other short term debts |
731.382,31 |
24,66 |
559.116,07 |
21,46 |
|
IV. Short term debts with associated and affiliated companies |
|
|
|
|
|
V. Trade creditors and other payable accounts |
769.607,31 |
25,94 |
639.060,00 |
24,53 |
|
1. Suppliers |
651.720,51 |
21,97 |
444.480,02 |
17,06 |
|
b) Short term suppliers |
651.720,51 |
21,97 |
444.480,02 |
17,06 |
|
2. Other creditors |
117.886,80 |
3,97 |
194.579,98 |
7,47 |
|
VI. Short term periodifications |
6.575,02 |
0,22 |
|
|
|
VII. Short term debts with special characteristics |
|
|
|
|
|
TOTAL NET WORTH AND LIABILITIES (A + B + C) |
2.966.364,65 |
100,00 |
2.605.400,07 |
100,00 |
PROFIT AND LOSS ACCOUNT
Figures given in
|
|
31/12/2010 (12) |
%OPERATING INCOME |
31/12/2009 (12) |
%OPERATING INCOME |
|
1. Net Turnover |
962.513,92 |
100,00 |
707.048,54 |
100,00 |
|
2. Variation in stocks of finished goods and work in progress |
|
|
|
|
|
3. Works for its own assets |
|
|
|
|
|
4. Supplies |
-500.911,64 |
-52,04 |
-289.308,56 |
-40,92 |
|
5. Other operating income |
|
|
|
|
|
6. Labour cost |
-145.211,41 |
-15,09 |
-122.030,01 |
-17,26 |
|
7. Other operating costs |
-170.866,44 |
-17,75 |
-175.554,99 |
-24,83 |
|
8. Amortization of fixed assets |
-39.256,01 |
-4,08 |
-31.024,10 |
-4,39 |
|
9. Allocation of subventions on non financial investments and other |
|
|
|
|
|
10. Provisions excess |
|
|
|
|
|
11. Deterioration and result for fixed assets disposal |
|
|
|
|
|
12. Negative difference of business combinations |
|
|
|
|
|
13. Other results |
|
|
|
|
|
A) OPERATING RESULT (1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 + 11 + 12
+ 13) |
106.268,42 |
11,04 |
89.130,88 |
12,61 |
|
14. Financial income |
61,86 |
0,01 |
2.144,00 |
0,30 |
|
b) Other financial income |
61,86 |
0,01 |
2.144,00 |
0,30 |
|
15. Financial expenses |
-58.301,09 |
-6,06 |
-100.382,28 |
-14,20 |
|
16. Reasonable value variation on financial instruments |
|
|
|
|
|
17. Exchange differences |
|
|
|
|
|
18. Deterioration and result for disposal of financial instruments |
|
|
|
|
|
19. Other financial income and expenses |
|
|
|
|
|
B) FINANCIAL RESULT (14 + 15 + 16 + 17 + 18 + 19) |
-58.239,23 |
-6,05 |
-98.238,28 |
-13,89 |
|
C) RESULT BEFORE TAXES (A + B) |
48.029,19 |
4,99 |
-9.107,40 |
-1,29 |
|
20. Taxes on profits |
-9.730,45 |
-1,01 |
|
|
|
D) EXERCISE RESULT (C + 20) |
38.298,74 |
3,98 |
-9.107,40 |
-1,29 |
NET WORTH CHANGES
STATUS
Status of recognized income and expenses
Figures given in
|
NET WORTH CHANGES (1/3) |
31/12/2010 (12) |
31/12/2009 (12) |
|
A) PROFIT AND LOSS ACCOUNT RESULT |
38.298,74 |
-9.107,40 |
|
INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH |
|
|
|
I. For valuation of financial instruments |
|
|
|
II. Cash flow coverage |
|
|
|
III. Received legacies, grants and subventions |
|
|
|
IV. For actuarial profits and losses and other adjustments |
|
|
|
V. Non-current assets and related liabilities, maintained for sale |
|
|
|
VI. Conversion differences |
|
|
|
VII. Tax effect |
|
|
|
B) TOTAL INCOME AND EXPENSES ALLOCATED DIRECTLY TO NET WORTH (I + II +
III + IV +V+VI+VII) |
|
|
|
PROFIT AND LOSS ACCOUNT TRANSFERS |
|
|
|
VIII. For valuation of financial instruments |
|
|
|
IX. Cash flow coverage |
|
|
|
X. Received legacies, grants and subventions |
|
|
|
XI. Non-current assets and related liabilities, maintained for sale |
|
|
|
XII. Conversion differences |
|
|
|
XIII. Tax effect |
|
|
|
C) TOTAL TRANSFERS TO THE PROFIT AND LOSS ACCOUNT (VIII + IX + X + XI+
XII+ XIII) |
|
|
|
TOTAL INCOME AND EXPENSES RECOGNIZED (A + B + C) |
38.298,74 |
-9.107,40 |
Total net worth changes status
Figures given in
|
NET WORTH CHANGES ( 2 /3) |
AUTHORIZED CAPITAL |
RESERVES |
RESULTS FROM PREVIOUS EXERCISES |
EXERCISE RESULT |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
60.101,21 |
402.039,50 |
87.261,21 |
38.298,74 |
|
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 |
402.039,50 |
87.261,21 |
38.298,74 |
|
I. Total recognized income and expenses |
|
|
|
-9.107,40 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
9.107,40 |
-38.298,74 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
60.101,21 |
402.039,50 |
96.368,61 |
-9.107,40 |
|
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 |
402.039,50 |
96.368,61 |
-9.107,40 |
|
I. Total recognized income and expenses |
|
|
|
38.298,74 |
|
II. Operations with partners or owners |
|
|
|
|
|
III. Other net worth variations |
|
|
-9.107,40 |
9.107,40 |
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
60.101,21 |
402.039,50 |
87.261,21 |
38.298,74 |
|
NET WORTH CHANGES ( 3 /3) |
TOTAL |
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2008) |
587.700,66 |
|
||
|
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) |
587.700,66 |
|
||
|
I. Total recognized income and expenses |
-9.107,40 |
|
||
|
II. Operations with partners or owners |
|
|
||
|
III. Other net worth variations |
-29.191,34 |
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2009) |
549.401,92 |
|
||
|
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) |
549.401,92 |
|
||
|
I. Total recognized income and expenses |
38.298,74 |
|
||
|
II. Operations with partners or owners |
|
|
||
|
III. Other net worth variations |
|
|
||
|
FINAL ACCOUNT BALANCE OF EXERCISE (2010) |
587.700,66 |
|
||
RATIOS
|
|
31/12/2010 (12) |
CHANGE % |
31/12/2009 (12) |
|
BALANCE RATIOS |
|||
|
Working Capital () |
858.925,63 |
11,44 |
770.733,61 |
|
Working capital ratio |
0,29 |
-3,33 |
0,30 |
|
Soundness Ratio |
0,98 |
13,95 |
0,86 |
|
Average Collection Period (days) |
365 |
53,25 |
238 |
|
Average Payment Period (days) |
413 |
-16,65 |
495 |
|
LIQUIDITY RATIOS |
|||
|
Current Ratio (%) |
156,97 |
-4,48 |
164,33 |
|
DEBT RATIOS |
|||
|
Borrowing percentage (%) |
54,02 |
-0,68 |
54,38 |
|
External Financing Average Cost |
0,04 |
-42,86 |
0,07 |
|
Debt Service Coverage |
20,66 |
-68,04 |
64,65 |
|
Interest Coverage |
1,82 |
104,49 |
0,89 |
|
GENERAL AND ACTIVITIES RATIOS |
|||
|
Auto financing generated by sales (%) |
8,06 |
160,00 |
3,10 |
|
Auto financing generated by Assets (%) |
2,61 |
210,71 |
0,84 |
|
Breakdown Point |
1,12 |
-1,75 |
1,14 |
|
Average Sales Volume per Employee |
320.837,97 |
36,13 |
235.682,85 |
|
Average Cost per Employee |
48.403,80 |
19,00 |
40.676,67 |
|
Assets Turnover |
0,32 |
18,52 |
0,27 |
|
Inventory Turnover (days) |
1.000 |
-46,47 |
1.868 |
|
RESULTS RATIOS |
|||
|
Return on Assets (ROA) (%) |
3,58 |
4,68 |
3,42 |
|
Operating Profitability (%) |
4,91 |
6,51 |
4,61 |
|
Return on Equity (ROE) (%) |
8,17 |
592,17 |
-1,66 |
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 |
20,22 |
29,74 |
-9,51 |
|
A) CURRENT ASSETS |
79,78 |
70,26 |
9,51 |
|
LIABILITIES |
|||
|
A) NET WORTH |
19,81 |
38,54 |
-18,73 |
|
B) NON CURRENT LIABILITIES |
29,37 |
18,98 |
10,38 |
|
C) CURRENT LIABILITIES |
50,82 |
42,48 |
8,35 |
|
|
|
|
|
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 |
-52,04 |
-57,96 |
5,92 |
|
Variation in stocks of finished goods and work in progress |
|
0,89 |
|
|
GROSS MARGIN |
47,96 |
42,93 |
5,03 |
|
Other operating costs |
-17,75 |
-18,91 |
1,16 |
|
Labour cost |
-15,09 |
-20,89 |
5,80 |
|
GROSS OPERATING RESULT |
15,12 |
3,13 |
11,99 |
|
Amortization of fixed assets |
-4,08 |
-2,03 |
-2,05 |
|
Deterioration and result for fixed assets disposal |
|
0,62 |
|
|
Other expenses / income |
|
0,54 |
|
|
NET OPERATING RESULT |
11,04 |
2,27 |
8,77 |
|
Financial result |
-6,05 |
-1,76 |
-4,29 |
|
RESULT BEFORE TAX |
4,99 |
0,50 |
4,49 |
|
Taxes on profits |
-1,01 |
-0,20 |
-0,81 |
|
RESULT COMING FROM CONTINUED OPERATIONS |
3,98 |
0,30 |
3,68 |
|
Exercise result coming from discontinued operations net of taxes |
|
0,00 |
|
|
NET RESULT |
3,98 |
0,30 |
3,68 |
|
Amortization of fixed assets |
-4,08 |
-2,03 |
-2,05 |
|
Deterioration and provisions variation |
-4,08 |
0,63 |
-4,71 |
|
|
12,14 |
1,70 |
10,44 |
Main Ratios
Figures given in
|
|
COMPANY (2010) |
PTILE25 |
PTILE50 |
PTILE75 |
|
BALANCE RATIOS |
|
|
|
|
|
Working Capital () |
858.925,63 |
21.863,24 |
106.568,57 |
282.447,51 |
|
Working capital ratio |
0,29 |
0,09 |
0,28 |
0,47 |
|
Soundness Ratio |
0,98 |
0,68 |
1,87 |
5,24 |
|
Average Collection Period (days) |
365 |
14 |
55 |
116 |
|
Average Payment Period (days) |
413 |
76 |
133 |
224 |
|
LIQUIDITY RATIOS |
|
|
|
|
|
Current Ratio (%) |
156,97 |
117,02 |
151,74 |
227,99 |
|
Quick Ratio (%) |
|
4,65 |
15,36 |
48,57 |
|
DEBT RATIOS |
|
|
|
|
|
Borrowing percentage (%) |
54,02 |
11,58 |
30,71 |
51,75 |
|
External Financing Average Cost |
0,04 |
0,02 |
0,04 |
0,08 |
|
Debt Service Coverage |
20,66 |
0,00 |
5,34 |
11,45 |
|
Interest Coverage |
1,82 |
-0,10 |
1,51 |
4,37 |
|
GENERAL AND ACTIVITIES RATIOS |
|
|
|
|
|
Auto financing generated by sales (%) |
8,06 |
0,48 |
2,99 |
5,59 |
|
Auto financing generated by Assets (%) |
2,61 |
0,76 |
2,62 |
5,60 |
|
Breakdown Point |
1,12 |
1,00 |
1,03 |
1,06 |
|
Average Sales Volume per Employee |
320.837,97 |
67.476,54 |
107.900,23 |
171.134,69 |
|
Average Cost per Employee |
48.403,80 |
17.490,17 |
23.246,93 |
30.134,70 |
|
Assets Turnover |
0,32 |
0,57 |
0,90 |
1,33 |
|
Inventory Turnover (days) |
1.000 |
127 |
317 |
600 |
|
RESULTS RATIOS |
|
|
|
|
|
Return on Assets (ROA) (%) |
3,58 |
-0,26 |
2,67 |
5,73 |
|
Operating Profitability (%) |
4,91 |
0,98 |
4,80 |
8,43 |
|
Return on Equity (ROE) (%) |
8,17 |
-4,30 |
4,13 |
14,51 |
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.48.68 |
|
|
1 |
Rs.76.75 |
|
Euro |
1 |
Rs.63.57 |
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 SCs 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.