MIRA
INFORM REPORT
|
Report Date : |
20.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
BARSAMIAN DIAMONDS NV |
|
|
|
|
Registered Office : |
Pelikaanstraat 62, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.02.1961 |
|
|
|
|
Com. Reg. No.: |
404932537 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and other precious stones |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
belgium ECONOMIC OVERVIEW
This modern, open, and
private-enterprise-based economy has capitalized on its central geographic
location, highly developed transport network, and diversified industrial and
commercial base. Industry is concentrated mainly in the more heavily-populated
region of Flanders in the north. With few natural resources, Belgium imports
substantial quantities of raw materials and exports a large volume of
manufactures, making its economy vulnerable to volatility in world markets.
Roughly three-quarters of Belgium's trade is with other EU countries, and
Belgium has benefited most from its proximity to Germany. In 2011 Belgian GDP
grew by 1.8%, the unemployment rate decreased slightly to 7.2% from 8.3% the
previous year, and the government reduced the budget deficit from a peak of 6%
of GDP in 2009 to 4.2% in 2011 and 3.3% in 2012. Fourth quarter GDP growth in 2012
was at -0.1%, the third consecutive quarter of negative growth. This brought
economic growth for the whole of 2012 to negative 0.2%. It also left Belgium on
the brink of a possible recession at the end of 2012. However, at year's end,
the government appeared close to meeting its 2012 budget deficit goal of 3% of
GDP. Despite the relative improvement in Belgium's budget deficit, public debt
hovers around 100% of GDP, a factor that has contributed to investor
perceptions that the country is increasingly vulnerable to spillover from the
euro-zone crisis. Belgian banks were severely affected by the international
financial crisis in 2008 with three major banks receiving capital injections
from the government, and the nationalization of the Belgian retail arm of a
Franco-Belgian bank.
|
Source : CIA |
REGISTERED NAME & COMPANY
SUMMARY
|
Business
number |
404932537 |
||
|
Company
name |
BARSAMIAN DIAMONDS NV |
||
|
Address |
PELIKAANSTRAAT 62 |
||
|
|
2018 ANTWERPEN |
||
|
Number
of staff |
12 |
||
|
Date of
establishment |
01/02/1961 |
||
|
Telephone
number |
033452324 |
||
|
Fax
number |
032342668 |
||
|
Business
number |
404932537 |
Company
name |
BARSAMIAN DIAMONDS NV |
|
Fax
number |
032342668 |
Date
founded |
01/02/1961 |
|
Company
status |
active |
Company
type |
Public Limited Liability Company (BE) |
|
Currency |
Euro (€) |
Date
of latest accounts |
31/12/2012 |
|
Activity
code |
46761 |
liable
for VAT |
yes |
|
Activity
description |
Wholesale of diamonds and other precious
stones |
VAT
Number |
BE.0404.932.537 |
|
Belgian
Bullettin of Acts Publications |
|
|
|
DIRECTORS/MANAGEMENT
Current director
details
|
Name |
|
|
Position
|
Director |
|
Start Date
|
28/07/2008 |
|
Date
of birth |
10/04/1950 |
|
Street
|
4 KOMEDIEPLAATS ANTWERPEN |
|
Post
code |
2000 |
|
Country
|
Belgium |
|
|
|
|
Name |
|
|
Position
|
Director |
|
Start
Date |
01/10/2012 |
|
End
Date |
28/05/2014 |
|
Street
|
68 RUE D'ANGOUSSART WAVER |
|
Post
code |
1301 |
|
Country
|
Belgium |
|
|
|
|
Name |
|
|
Position
|
Director |
|
Start
Date |
01/10/2012 |
|
End Date
|
28/05/2014 |
|
Street
|
68 RUE D'ANGOUSSART WAVER |
|
Post
code |
1301 |
|
Country
|
Belgium |
|
|
|
|
Name |
|
|
Position
|
Director |
|
Start
Date |
28/05/2008 |
|
End Date
|
28/05/2014 |
|
Date
of birth |
25/02/2002 |
|
Street
|
62 PELIKAANSTRAAT ANTWERPEN |
|
Post
code |
2018 |
|
Country
|
Belgium |
|
|
|
|
Name |
|
|
Position
|
Legal Representative |
|
Start
Date |
28/05/2008 |
|
Date
of birth |
25/02/2002 |
|
Street
|
62 PELIKAANSTRAAT ANTWERPEN |
|
Post
code |
2018 |
|
Country
|
Belgium |
|
|
|
|
Name |
|
|
Position
|
Managing Director |
|
Start
Date |
28/05/2008 |
|
Date
of birth |
14/05/1952 |
|
Street
|
42 RUE DES TEMPLIERS WAVER |
|
Post
code |
1301 |
|
Country
|
Belgium |
|
|
|
|
Name |
|
|
Position
|
Director |
|
Start
Date |
13/01/2003 |
|
Date
of birth |
14/05/1952 |
|
Street
|
42 RUE DES TEMPLIERS WAVER |
|
Post
code |
1301 |
|
Country
|
Belgium |
|
|
|
|
Name |
|
|
Position
|
Chairman of the Board |
|
Start
Date |
20/12/2002 |
|
Date
of birth |
14/05/1952 |
|
Street
|
42 RUE DES TEMPLIERS WAVER |
|
Post
code |
1301 |
|
Country
|
Belgium |
|
|
|
|
Name |
|
|
Position
|
Director |
|
Start
Date |
28/07/2008 |
|
Street
|
82 VIA DELLA DRONA,30011 ALBERONI , |
|
Post
code |
30175 |
|
Country
|
Italy |
NEGATIVE INFORMATION
Court data summary
|
Bankruptcy
details |
|
|
Court
action type |
no |
|
Protested
bills |
|
|
Bill
amount |
- |
|
NSSO
details |
|
|
Date
of summons |
- |
Personnel (NSSO
classification)
|
Code |
- |
|
Description |
10 EMPLOYEES |
NSSO details
|
Business number |
404932537 |
Bankruptcy details
|
There is no bankruptcy data against this
company |
|
court data
|
there is no data for this company |
SHARE & SHARE CAPITAL
INFORMATION
Minority Shareholders
|
No minority shareholders found |
Minority Interests
|
No minority interests found |
PAYMENT INFORMATION
Payment expectations
|
Past
payments |
|
Payment expectation
days |
74.99 |
|
Industry
average payment expectation days |
165.68 |
Industry
average day sales outstanding |
116.68 |
|
Day
sales outstanding |
100.60 |
||
Industry comparison
|
Activity code |
46761 |
|
Activity
description |
Wholesale of diamonds and other precious
stones |
Payment expectations
|
Payment
expectation days |
74.99 |
|
Day sales
outstanding |
100.60 |
Industry comparison
|
Activity code |
46761 |
|
Activity
description |
Wholesale of diamonds and other precious
stones |
|
Industry
average payment expectation days |
165.68 |
|
Industry
average day sales outstanding |
116.68 |
Industry quartile
analysis
|
Payment
expectations |
|
|
Company result |
74.99 |
|
Lower |
134.58 |
|
Median |
84.97 |
|
Upper |
45.29 |
|
Day sales
outstanding |
|
|
Company result |
100.60 |
|
Lower |
113.11 |
|
Median |
59.42 |
|
Upper |
28.58 |
GROUP STRUCTURE & AFFILIATED
COMPANIES
Group Structure
|
No group structure
for this company. |
FINANCIAL INFORMATION
Accounts
|
Date
of latest accounts |
Turnover |
Profit
Before Tax |
Net
worth |
Working
capital |
|
31/12/2012 |
72,257,777 |
-5,060 |
11,848,536 |
11,533,654 |
|
31/12/2011 |
74,862,062 |
335,020 |
11,841,575 |
11,529,046 |
|
31/12/2010 |
61,862,421 |
173,884 |
11,685,311 |
11,387,414 |
Accounts
|
Date
of latest accounts |
Balance
Total |
Number
of Employees |
Capital |
Cashflow |
|
31/12/2012 |
39,200,910 |
10 |
11,000,000 |
95,875 |
|
31/12/2011 |
37,954,661 |
14 |
11,000,000 |
248,341 |
|
31/12/2010 |
36,883,824 |
14 |
11,000,000 |
203,789 |
Social Balance Sheet Details
|
Social
Balance Sheet |
Total |
|
During
the reporting year |
|
|
Full-time
Employees |
12 |
|
Part-time
Employees |
2 |
|
Total
Fte Employees |
13 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
20,284 |
|
Part-time
Employees |
1,150 |
|
Total |
21,434 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
514,621 |
|
Part-time
Employees |
29,176 |
|
Total |
543,797 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
14 |
|
Actual
working hours |
23,914 |
|
Personnel
Charges |
550,983 |
|
Benefits
In Addition To Wages |
- |
|
Type
of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
Unlimited
Duration Contracts |
12 |
1 |
12 |
|
Limited
Duration Contracts |
- |
- |
- |
|
Contracts
For Specific Work |
- |
- |
- |
|
Contracts
Regarding Substitution |
- |
- |
- |
|
Gender
and Education Level |
|
|
|
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy
education |
2 |
- |
2 |
|
Higher
education (non university) |
4 |
- |
4 |
|
Higher
education (university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy
education |
5 |
- |
5 |
|
Higher
education (non university) |
1 |
1 |
1 |
|
Higher
education (university) |
- |
- |
- |
|
Working
Category |
Full-Time |
Part-Time |
Total
Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
12 |
1 |
12 |
|
Blue
collar worker |
- |
- |
- |
|
Other |
- |
- |
- |
|
Temporary
personnel |
Total |
|
Average
number of temporary staff |
- |
|
Actual
working hours |
- |
|
Cost of
temporary staff |
- |
|
New
staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
|
New
Starters |
1 |
- |
1 |
|
Leavers |
3 |
- |
3 |
|
Total
of formal continuing vocational training initiatives for workers paid by the
employer |
Male |
Female |
|
Number
of employees |
- |
- |
|
Number
of training hours |
- |
- |
|
Net
costs for enterprise |
546 |
459 |
|
Total
of less formal and informal continuing vocational training initiatives for
workers paid by the employer |
Male |
Female |
|
Number
of employees |
- |
- |
|
Number
of training hours |
- |
- |
|
Net
costs for enterprise |
- |
- |
|
Total
of initial training initiatives at the expense of the employer |
Male |
Female |
|
Number
of employees |
- |
- |
|
Number
of training hours |
- |
- |
|
Net costs
for enterprise |
- |
- |
Profit & loss
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover
|
72,257,777 |
-3.48 |
74,862,062 |
21.01 |
61,862,421 |
47,072,785 |
53.50 |
|
Total
operating expenses |
71,757,449 |
-3.07 |
74,028,937 |
20.61 |
61,380,654 |
46,675,644 |
53.74 |
|
500,328 |
-39.95 |
833,125 |
72.93 |
481,767 |
150,471 |
232 |
|
|
98,020 |
30.12 |
75,330 |
-54.34 |
164,967 |
98,373 |
-0.36 |
|
|
603,408 |
5.23 |
573,434 |
21.27 |
472,849 |
206,992 |
191 |
|
|
-5,060 |
-101 |
335,020 |
92.67 |
173,884 |
33,249 |
-115 |
|
|
-56,090 |
-134 |
164,969 |
215 |
52,261 |
21,145 |
-365 |
|
|
51,030 |
-69.99 |
170,051 |
39.82 |
121,623 |
18,193 |
180 |
|
|
-44,069 |
-219 |
-13,788 |
- |
0 |
-4,641 |
-849 |
|
|
0.00 |
- |
0.00 |
- |
0 |
- |
- |
|
|
6,961 |
-95.55 |
156,264 |
28.48 |
121,623 |
13,571 |
-48.71 |
|
|
other
information |
|||||||
|
- |
- |
- |
- |
- |
172,177 |
- |
|
|
139,262 |
10.30 |
126,256 |
0.92 |
125,105 |
114,526 |
21.60 |
|
|
543,797 |
-1.30 |
550,983 |
3.49 |
532,417 |
128,695 |
322 |
|
|
425,233 |
-2.30 |
435,246 |
4.07 |
418,231 |
107,319 |
296 |
|
|
- |
- |
- |
- |
- |
14,428 |
- |
|
|
107,449 |
5.36 |
101,986 |
-0.23 |
102,217 |
27,055 |
297 |
|
|
11,115 |
-19.17 |
13,752 |
14.90 |
11,968 |
4,458 |
149 |
|
|
88,914 |
-3.44 |
92,077 |
12.06 |
82,166 |
17,877 |
397 |
|
balance sheet
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency
|
EUR |
|
EUR |
|
EUR |
|
|
|
0 |
- |
0 |
- |
0 |
1,596 |
-100 |
|
|
397,253 |
-16.21 |
474,078 |
-7.70 |
513,648 |
185,178 |
114 |
|
|
- |
- |
- |
- |
- |
359,116 |
- |
|
|
22,482 |
28.24 |
17,531 |
23.70 |
14,173 |
23,025 |
-2.36 |
|
|
142,100 |
31.28 |
108,242 |
-23.39 |
141,289 |
17,541 5,457 |
710 |
|
|
- |
- |
77,050 |
11.20 |
69,288 |
142,153 32,369 |
- |
|
|
232,670 |
-14.22 |
271,254 |
-6.11 |
288,898 |
7,841 |
2867 |
|
|
16,181 |
5.20 |
15,381 |
0.00 |
15,381 |
293,802 |
-94.49 |
|
|
413,434 |
-15.53 |
489,459 |
-7.48 |
529,029 |
386,621 |
6.94 |
|
|
18,454,259 |
29.85 |
14,211,763 |
-21.92 |
18,200,962 |
3,124,254 |
490 |
|
|
- |
- |
- |
- |
- |
7,209,884 |
- |
|
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,469 |
-100 |
|
18,454,259 |
29.85 |
14,211,763 |
-21.92 |
18,200,962 |
2,005,001 |
820 |
|
|
0 |
- |
0 |
- |
0 |
575,173 |
-100 |
|
|
19,916,366 |
-13.07 |
22,909,892 |
34.28 |
17,061,322 |
4,223,178 |
371 |
|
|
Cash |
360,869 |
5.45 |
342,220 |
-68.02 |
1,070,223 |
223,371 |
61.56 |
|
55,000 |
- |
0 |
-100 |
22,288 |
184,709 |
-70.22 |
|
|
981 |
-26.04 |
1,327 |
- |
0 |
18,016 |
-94.55 |
|
|
38,787,476 |
3.53 |
37,465,202 |
3.05 |
36,354,795 |
7,295,191 |
431 |
|
|
39,200,910 |
3.28 |
37,954,661 |
2.90 |
36,883,824 |
7,650,696 1,454,122 |
412 |
|
|
current
liabilities |
|||||||
|
14,742,165 |
-0.29 |
14,785,576 |
-1.49 |
15,009,077 |
3,082,205 |
378 |
|
|
- |
- |
- |
- |
- |
- |
- |
|
|
11,996,225 |
12.43 |
10,669,499 |
11.77 |
9,545,932 |
4,285,403 195,315 |
179 |
|
|
61,456 |
-21.59 |
78,376 |
8.42 |
72,288 |
108,524 15,189 |
-43.37 |
|
|
103,182 |
-40.45 |
173,271 |
66.39 |
104,133 |
9,398 - |
201 |
|
|
350,794 |
52.90 |
229,433 |
-2.76 |
235,951 |
16.09 |
- - |
|
|
27,253,822 |
5.08 |
25,936,156 |
3.88 |
24,967,381 |
5,411,387 |
403 |
|
|
Long
term debts and liabilities |
|||||||
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other
long term loans |
98,552 |
-44.30 |
176,930 |
-23.45 |
231,132 |
-91.15 |
- - |
|
Deffered
taxes |
- |
- |
- |
- |
- |
37,626 26,358 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,204 0 |
-100 |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
132,058 |
-100 |
|
98,552 |
-44.30 |
176,930 |
-23.45 |
231,132 |
570,907 |
-82.74 |
|
|
shareholders
equity |
|||||||
|
11,000,000 |
0 |
11,000,000 |
0 |
11,000,000 |
912,159 |
1105 |
|
|
- |
- |
- |
- |
- |
109,362 |
- |
|
|
848,536 |
0.83 |
841,575 |
22.80 |
685,311 |
711,673 |
19.23 |
|
|
- |
- |
- |
- |
- |
968,672 |
- |
|
|
Total
shareholders equity |
11,848,536 |
0.06 |
11,841,575 |
1.34 |
11,685,311 |
1,654,216 |
616 |
|
11,533,654 |
0.04 |
11,529,046 |
1.24 |
11,387,414 |
1,883,804 |
512 |
|
|
95,875 |
-61.39 |
248,341 |
21.86 |
203,789 |
28,308 |
238 |
|
|
11,848,536 |
0.06 |
11,841,575 |
1.34 |
11,685,311 |
1,650,900 |
617 |
|
ratio analysis
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average |
% |
|
Trading
performance |
|||||||
|
Profit Before Tax |
-0.01 |
-102 |
0.45 |
60.71 |
0.28 |
-26,00 |
0.04 |
|
-0.04 |
-101 |
2.79 |
91.10 |
1.46 |
30,00 |
-100 |
|
|
-0.01 |
-101 |
0.88 |
87.23 |
0.47 |
-211,00 |
0.00 |
|
|
-0.04 |
-101 |
2.83 |
89.93 |
1.49 |
20,00 |
-100 |
|
|
6.26 |
-3.54 |
6.49 |
19.52 |
5.43 |
45,00 |
-99 |
|
|
25.54 |
34.56 |
18.98 |
-35.49 |
29.42 |
113,00 |
-77.40 |
|
|
100.60 |
-9.94 |
111.70 |
10.96 |
100.67 |
134,00 |
-24.93 |
|
|
74.99 |
2.87 |
72.90 |
-18.32 |
89.25 |
122,00 |
-38.53 |
|
|
short
term stability |
|||||||
|
1.42 |
-1.39 |
1.44 |
-1.37 |
1.46 |
7,00 |
-84.22 |
|
|
0.75 |
-16.67 |
0.90 |
23.29 |
0.73 |
4,00 |
-81.25 |
|
|
2.30 |
5.02 |
2.19 |
2.34 |
2.14 |
9,00 |
-74.44 |
|
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
|
|
long
term stability |
|||||||
|
102.60 |
11.21 |
92.26 |
9.46 |
84.29 |
370,00 |
-72.27 |
|
|
30.23 |
-3.11 |
31.20 |
-1.52 |
31.68 |
-3.305,00 |
0.91 |
|
|
2.31 |
4.52 |
2.21 |
2.31 |
2.16 |
11,00 |
-79.00 |
|
ADDITIONAL INFORMATION
Commentary
|
The business was established over 49 years
ago. |
|
|
The business has 10 employees. |
|
|
The business has been at the address for
over 30 years. |
|
|
Operating Result in the latest trading period
decreased 39% on the previous trading period. |
|
|
Pre-tax profits decreased by 101% compared
to the previous trading period. |
|
Trends
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Significant Events
|
Event
Date |
28/05/2008 |
|
Event
Description |
re-appointment of director(s) |
|
Event
Details |
Commentaar 28-05-2008: Herbenoeming van de
volgende bestuurders voor een periode van 6 jaar Philippe Barsamian (tevens gedelegeerd
bestuurder), Marco Croze en Christian Vrouyr. |
|
Event
Date |
28/07/2010 |
|
Event
Details |
De aandelen van de vennootschap, die
voordien aan toonder waren, worden omgezet in aandelen op naam. |
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.
-
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 –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.38 |
|
UK Pound |
1 |
Rs.102.15 |
|
Euro |
1 |
Rs.85.29 |
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.