MIRA INFORM REPORT
|
Report Date : |
16.05.2013 |
|
|
|
|
Tel. No.: |
+4926079743178 |
IDENTIFICATION DETAILS
|
Name : |
DIAMONDGROUP GMBH |
|
|
|
|
Registered Office : |
Kastorbachstr. 14, D 56330 Kobern-Gondorf |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
26.08.2009 |
|
|
|
|
Com. Reg. No.: |
HRB 21759 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of jewelry and related articles (except imitation
jewelry) |
|
|
|
|
No. of Employees : |
02 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 6.5% in 2012. GDP contracted 5.1% in 2009 but grew
by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a
reflection of low investment spending due to crisis-induced uncertainty and the
decreased demand for German exports from recession-stricken periphery
countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and
tax cuts introduced in Chancellor Angela MERKEL's second term increased
Germany's total budget deficit - including federal, state, and municipal - to
4.1% in 2010, but slower spending and higher tax revenues reduced the deficit
to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. 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 though
the target was already reached in 2012. By 2014, the federal government wants
to balance its budget. 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 electricity generating capacity and 46% of its base-load electricity
production.
|
Source : CIA |
DiamondGroup GmbH
Kastorbachstr. 14
D 56330 Kobern-Gondorf
Telephone: 02607/9743178
Telefax: 02607/9743176
E-mail: anke-schmidt@dg-jewelery.de
DE266491614
active
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 26.08.2009
Shareholders'
agreement: 26.08.2009
Registered on: 21.09.2009
Commercial Register: Local
court 56068 Koblenz
under: HRB 21759
Share capital:
EUR 100,000.00
Frank Heringer
Hauptstr. 14a
D 55767 Siesbach
born: 04.04.1969
Share: EUR 80,000.00
Shareholder:
Anke Schmidt
D 56330 Kobern-Gondorf
born: 25.05.1978
Share: EUR 20,000.00
Frank Heringer
Hauptstr. 14a
D 55767 Siesbach
having sole power of representation
born: 04.04.1969
Marital status: married
Manager:
Anke Schmidt
D 56330 Kobern-Gondorf
having sole power of representation
born: 25.05.1978
Further
functions/participations of Frank Heringer (Manager)
Shareholder:
BHL
Schmuck GmbH
Hauptstr. 14
D
55767 Siesbach
Legal
form: Private limited company
insolvent
Share
capital: EUR 30,677.52
Share: EUR 15,338.76
Registered
on: 14.10.1996
Reg.
data: 55543 Bad Kreuznach, HRB 10922
Manager:
BHL
Schmuck GmbH
Hauptstr. 14
D
55767 Siesbach
Legal form: Private
limited company
insolvent
Share
capital: EUR 30,677.52
Registered
on: 14.10.1996
Reg. data: 55543 Bad Kreuznach, HRB 10922
Main industrial
sector
3212 Manufacture of
jewelry and related articles (except imitation jewelry)
Secondary
industrial sector
4648 Wholesale of clocks
and watches and jewelry
Payment experience: within
periods customary in this trade
Negative information: We
have no negative information at hand.
Balance sheet year: 2011
Type of ownership: Tenant
Address Kastorbachstr. 14
D 56330 Kobern-Gondorf
Real Estate of: Frank
Heringer
Type of ownership: proprietor
Share: 100.00 %
Address Hauptstr.
14
D 55767 Siesbach
Type of real estate: residential and business location
Land register documents were not available.
VOLKSBANK HUNSRÜCK-NAHE, SIMMERN, HUNSRÜCK
Sort. code: 56061472, Account no.: 6764466, BIC: GENODED1KHK
Turnover: 2011 EUR 2,500,000.00
2012 EUR 2,400,000.00
Profit: 2011 EUR 689,327.00
further business figures:
Equipment: EUR 16,000.00
Ac/ts receivable: EUR 2,525,855.00
Liabilities: EUR 2,860,414.00
Total numbers of vehicles: 1
-
Passenger cars:
1
Total value of vehicles: EUR 48,000.00
-
Passenger cars:
EUR 48,000.00
Employees:
2
The aforementioned business figures may partly be estimated information
based on average values in the line of business.
Balance sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 34.01
Liquidity ratio: 1.14
Return on total capital [%]: 13.46
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 35.21
Liquidity ratio: 1.12
Return on total capital [%]: 22.88
Balance sheet ratios 26.08.2009 - 31.12.2009
Equity ratio [%]: 27.88
Liquidity ratio: 0.97
Return on total capital [%]: 10.48
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: 01.01.2011 - 31.12.2011
ASSETS EUR 5,120,741.10
Fixed assets
EUR 162,092.00
Intangible assets EUR 1,854.00
Other / unspecified intangible assetsEUR 1,854.00
Tangible assets
EUR 160,238.00
Other / unspecified tangible assets
EUR 160,238.00
Current assets
EUR 4,930,055.68
Stocks
EUR 1,888,914.00
Accounts receivable
EUR 2,525,855.36
Other debtors and assets
EUR 2,525,855.36
Liquid means
EUR 515,286.32
Remaining other assets
EUR 28,593.42
Accruals (assets)
EUR 28,593.42
LIABILITIES EUR 5,120,741.10
Shareholders' equity
EUR 1,615,017.80
Capital
EUR 100,000.00
Subscribed capital (share capital)
EUR 100,000.00
Balance sheet profit/loss (+/-)
EUR 1,515,017.80
Profit / loss brought forward
EUR 825,691.14
Annual surplus / annual deficit
EUR 689,326.66
Provisions
EUR 645,309.20
Liabilities EUR 2,860,414.10
Other liabilities
EUR 2,860,414.10
Unspecified other liabilities
EUR 2,860,414.10
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2010 - 31.12.2010
ASSETS EUR 3,007,027.51
Fixed assets
EUR 91,492.00
Intangible assets
EUR 3,165.00
Other / unspecified intangible assetsEUR 3,165.00
Tangible assets
EUR 88,327.00
Other / unspecified tangible assets
EUR 88,327.00
Current assets
EUR 2,898,495.76
Stocks EUR 1,218,085.61
Accounts receivable
EUR 1,297,696.00
Other debtors and assets
EUR 1,297,696.00
Liquid means
EUR 382,714.15
Remaining
other assets EUR 17,039.75
Accruals (assets)
EUR 17,039.75
LIABILITIES EUR 3,007,027.51
Shareholders' equity
EUR 925,691.14
Capital
EUR 100,000.00
Subscribed capital (share capital)
EUR 100,000.00
Balance sheet profit/loss (+/-)
EUR 825,691.14
Profit / loss brought forward
EUR 137,979.13
Annual surplus / annual deficit
EUR 687,712.01
Provisions
EUR 406,823.27
Liabilities
EUR 1,674,513.10
Other liabilities EUR 1,674,513.10
Unspecified other liabilities
EUR 1,674,513.10
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.54.78 |
|
UK Pound |
1 |
Rs.83.38 |
|
Euro |
1 |
Rs.70.72 |
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.