|
Report Date : |
10.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
DIAMANTRA GMBH |
|
|
|
|
Registered Office : |
Hirschstr. 29, D 70173 Stuttgart |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
24.04.2006 |
|
|
|
|
Com. Reg. No.: |
HRB 721297 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture of jewelry and related articles (exceptimitation jewelry) |
|
|
|
|
No. of Employees : |
03 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
germany - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.
|
Source : CIA |
Diamantra GmbH
Hirschstr. 29
D 70173 Stuttgart
Telephone: 0711/6938242
Telefax:
0711/6938244
Homepage: www.diamantra.com
E-mail:
de@diamantra.com
LEGAL FORM Private limited company
Date of foundation: 24.04.2006
Shareholders'
agreement: 24.04.2006
Registered on: 11.10.2006
Commercial Register: Local court
70190 Stuttgart
under: HRB 721297
Share capital: EUR
25,000.00
Nirav Paresh Mehta
IND
Mumbai
born: 05.12.1978
Share: EUR 25,000.00
Nirav Paresh Mehta
IND
Mumbai
having sole power of representation
born: 05.12.1978
Nationality: Indian
Manager:
Amit Khemani
IND
Mumbai
born: 24.07.1973
Nationality: Indian
24.04.2006 - 21.06.2006 Diamantra
GmbH
Südliche
Auffahrtsallee 29
D 80639
München
Private
limited company
11.10.2006 - 11.10.2006 Diamantra
GmbH
D 70188
Stuttgart
Private
limited company
Sectors
32120 Manufacture of jewelry and
related articles (exceptimitation jewelry)
96090 Other service activities
n. e. c.
Payment experience: within
periods customary in this trade
Negative information: We have no
negative information at hand.
Balance sheet year: 2010
Type of ownership: Tenant
Address Hirschstr. 29
D 70173 Stuttgart
Land register documents were not available.
DEUTSCHE BANK,
STUTTGART
Sort. code: 60070070, BIC: DEUTDESSXXX
Profit: 2010 EUR 25,544.00
Ac/ts
receivable:
EUR 311,924.00
Liabilities: EUR 1,065,386.00
Employees:
3
The aforementioned business figures may partly be estimated information
based on average values in the line of business.
Balance
sheet ratios 01.01.2010 - 31.12.2010
Equity
ratio [%]: 15.34
Liquidity
ratio: 0.43
Return
on total capital [%]: 2.28
Balance
sheet ratios 01.01.2009 - 31.12.2009
Equity
ratio [%]: 21.54
Liquidity
ratio: 0.65
Return
on total capital [%]: 8.92
Balance
sheet ratios 01.01.2008 - 31.12.2008
Equity
ratio [%]: 18.90
Liquidity
ratio: 0.25
Return
on total capital [%]: -3.15
Balance
sheet ratios 01.01.2007 - 31.12.2007
Equity
ratio [%]: 17.37
Liquidity
ratio: 0.22
Return
on total capital [%]: -0.53
Equity ratio
The equity ratio indicates the portion of the equity as compared to the
total capital. The higher the equity ratio, the better the economic stability
(solvency) and thus the financial autonomy of a company.
Liquidity ratio
The liquidity ratio shows the proportion between adjusted receivables
and net liabilities. The higher the ratio, the lower the company's financial
dependancy from external creditors.
Return on total
capital
The return on total capital shows the efficiency and return on the total
capital employed in the company. The higher the return on total capital, the
more economically does the company work with the invested capital.
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 1,125,473.89
Fixed
assets EUR 27,768.00
Tangible assets
EUR 27,768.00
Other / unspecified tangible assets
EUR 27,768.00
Current assets EUR 1,097,705.89
Stocks
EUR 570,000.00
Accounts receivable
EUR 311,924.43
Other debtors and assets
EUR 311,924.43
Liquid means
EUR 215,781.46
LIABILITIES EUR 1,125,473.89
Shareholders' equity EUR
52,627.75
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance sheet profit/loss (+/-)
EUR 27,627.75
Profit / loss brought forward
EUR 2,083.84
Annual surplus / annual deficit
EUR 25,543.91
Provisions EUR 7,460.00
Liabilities EUR 1,065,386.14
Other
liabilities EUR 1,065,386.14
Unspecified other liabilities
EUR 1,065,386.14
Type of balance
sheet: Company balance sheet
Financial year: 01.01.2009 - 31.12.2009
ASSETS EUR 604,174.04
Fixed
assets EUR 22,734.00
Tangible assets
EUR 22,734.00
Other / unspecified tangible assets
EUR 22,734.00
Current assets EUR 579,271.19
Stocks
EUR 217,988.18
Accounts receivable
EUR 199,871.77
Other debtors and assets
EUR 199,871.77
Liquid means EUR 161,411.24
Remaining other assets EUR 2,168.85
Accruals (assets)
EUR 2,168.85
LIABILITIES EUR 604,174.04
Shareholders' equity EUR 27,083.84
Capital
EUR 25,000.00
Subscribed capital (share capital)
EUR 25,000.00
Balance sheet profit/loss (+/-)
EUR 2,083.84
Profit
/ loss brought forward EUR -51,712.72
Annual surplus / annual deficit
EUR 53,796.56
Provisions EUR 5,833.85
Liabilities EUR 571,256.35
Other
liabilities EUR 571,256.35
Unspecified other liabilities
EUR 571,256.35
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND SAGA – DIRTY DOZEN STUCK
WITH 2K CR DEBT
This
could be the biggest credibility crisis the Indian diamond industry has ever
faced. Fifteen banks run the risk of losing Rs 2000 crore lent to a dozen
diamond firms in Surat. Until about two months ago, they had not repaid
these dues. Bankers believe many diamantaires borrowed money during the
economic downturn two years ago and diverted funds to businesses like real
estate and capital markets. Many of themselves made money from these businesses
but their diamond companies have gone sick and declared insolvency.
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.38 |
|
UK Pound |
1 |
Rs.83.99 |
|
Euro |
1 |
Rs.67.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.