MIRA
INFORM REPORT
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Report Date : |
21.01.2012 |
IDENTIFICATION DETAILS
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Name : |
royal family srl |
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Registered Office : |
Via Di Saponara 662 Roma, 00125 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
28.07.1987 |
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Com. Reg. No.: |
08049760583 |
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Legal Form : |
Private Independent |
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Line of Business : |
Manufacture of jewellery and related articles not elsewhere classified |
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No. of Employees : |
14 |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Italy |
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 and address
Royal Family SRL
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Business
Description
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Royal Family SRL is primarily engaged in production of worked pearls;
production of precious and semi-precious stones in the worked state. Included
is the working of industrial quality stones and synthetic or reconstructed
precious or semi-precious stones; working of diamonds; manufacture of
jewellery of precious metal or of base metals clad with precious metals, or
precious or semi-precious stones, or of combinations of precious metal and
precious or semi-precious stones or of other materials; manufacture of
goldsmithsβ articles of precious metals or of base metals clad with
precious metals (dinnerware, flatware, hollow-ware, toilet articles, office
or desk articles, articles for religious use, etc.). This class also
includes: personalised engraving on objects of precious metals. |
Industry
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Industry |
Jewelry and Silverware |
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ANZSIC 2006: |
2591 - Jewellery and Silverware
Manufacturing |
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NACE 2002: |
3622 - Manufacture of jewellery and
related articles not elsewhere classified |
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NAICS 2002: |
339911 - Jewelry (except Costume)
Manufacturing |
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UK SIC 2003: |
3622 - Manufacture of jewellery and
related articles not elsewhere classified |
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US SIC 1987: |
3914 - Silverware, Plated Ware, and
Stainless Steel Ware |
Key Executives
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News
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1 - Profit & Loss
Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporte Overview
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Executives Report
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Annual Profit
& Loss
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
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Consolidated |
No |
No |
No |
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Total income |
4.9 |
5.4 |
6.8 |
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Net sales |
4.6 |
5.2 |
6.6 |
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Other operating income |
0.2 |
0.2 |
0.3 |
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Raw materials and consumables employed |
1.6 |
1.4 |
2.3 |
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Other expenses |
0.7 |
0.8 |
0.9 |
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Total payroll costs |
0.7 |
0.8 |
0.9 |
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Fixed asset depreciation and amortisation |
0.2 |
0.3 |
0.6 |
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Other operating costs |
0.8 |
0.9 |
1.1 |
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Net operating income |
0.7 |
1.4 |
1.2 |
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Total financial income |
0.0 |
0.1 |
0.1 |
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Total expenses |
0.0 |
0.0 |
0.1 |
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Profit before tax |
0.7 |
1.4 |
1.2 |
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Profit after extraordinary items and before tax |
0.7 |
1.4 |
1.7 |
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Total taxation |
0.2 |
0.5 |
0.5 |
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Net profit |
0.5 |
1.0 |
1.2 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Total stockholders equity |
14.3 |
14.7 |
13.3 |
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Provision for pensions |
0.1 |
0.1 |
0.1 |
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Trade creditors |
0.3 |
0.3 |
- |
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Other current liabilities |
-4.3 |
-4.2 |
0.3 |
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Total current liabilities |
-4.0 |
-3.9 |
0.3 |
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Total liabilities (including net worth) |
10.3 |
10.9 |
13.7 |
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Intangibles |
0.0 |
0.1 |
0.2 |
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Total tangible fixed assets |
2.2 |
2.4 |
2.5 |
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Total non-current assets |
2.2 |
2.5 |
2.7 |
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Net stocks and work in progress |
0.4 |
0.3 |
0.2 |
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Trade debtors |
4.2 |
5.0 |
- |
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Other receivables |
0.4 |
0.1 |
8.1 |
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Cash and liquid assets |
2.6 |
2.3 |
1.9 |
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Accruals |
0.5 |
0.6 |
0.7 |
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Total current assets |
8.1 |
8.4 |
11.0 |
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Total assets |
10.3 |
10.9 |
13.7 |
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Annual Ratios |
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Financials in:
USD (mil) |
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31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
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Consolidated |
No |
No |
No |
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Current ratio |
- |
-2.20 |
33.50 |
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Quick ratio |
- |
-2.10 |
32.80 |
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Current liabilities to net worth |
- |
0.00% |
- |
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Sales per employee |
- |
0.37 |
0.26 |
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Average wage per employee |
- |
0.06 |
0.03 |
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Net worth |
14.3 |
14.7 |
13.3 |
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 |
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US Dollar |
1 |
Rs.50.33 |
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1 |
Rs.77.97 |
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Euro |
1 |
Rs.65.31 |
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 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.