|
Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIABEX
NV |
|
|
|
|
Registered Office : |
Hoveniersstraat
2 2018 Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.03.1997 |
|
|
|
|
Com. Reg. No.: |
460287962 |
|
|
|
|
Legal Form : |
Public
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale
of diamonds and other precious stones |
|
|
|
|
No. of Employees |
01 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. 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 |
|
Business number |
460287962 |
|
Company name |
DIABEX NV |
|
Address |
HOVENIERSSTRAAT
2 |
|
|
2018
ANTWERPEN |
|
Number of staff |
1 |
|
Date of establishment |
18/03/1
997 |
|
Telephone number |
032014878 |
|
Fax number |
032014878 |
The
business was established over 17 years ago. The business has 1 employees.
The
business has been at the address for over 3 years.
Operating Result
in the latest trading period increased 70% on the previous trading period.
A 23%
growth in Total Assets occurred during the latest trading period.
Pre-tax
profits increased by 614% compared to the previous trading period.
The business saw a decrease in their Cash Balance of 95% during the latest
trading period
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2012 |
94,787,654 |
410,851 |
9,654,506 |
12,711,501 |
|
31/12/2011 |
125,599,260 |
57,493 |
9,247,152 |
12,481,815 |
|
31/12/2010 |
137,944,504 |
172,735 |
8,976,218 |
12,692,856 |
|
DATE OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
49,208,751 |
1 |
8,560,410 |
485,164 |
|
31/12/2011 |
39,980,721 |
2 |
8,560,410 |
322,297 |
|
31/12/2010 |
38,265,352 |
2 |
8,560,410 |
236,041 |
Past payments Payment
expectation days 92.46
Industry average payment
expectation days 129.58 Industry average day sales
outstanding 131.83
Day sales outstanding
106.21
|
Business
number |
460287962 |
Company
name |
DIABEX NV |
|
Fax number |
032014878 |
Date
founded |
18/03/1997 |
|
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.0460.287.962
Check VAT number |
|
Social
Balance Sheet |
Total |
|
During the
reporting year |
|
|
ended
31-12-2012 |
|
|
Full-time
Employees |
2 |
|
Part-time
Employees |
1 |
|
Total Fte
Employees |
2 |
|
|
|
|
Number of
hours worked |
|
|
Full-time
Employees |
3,124 |
|
Part-time
Employees |
521 |
|
Total |
3,645 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
70,963 |
|
Part-time
Employees |
8,693 |
|
Total |
79,656 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During the
previous reporting year |
|
|
Average
number employees in Fte |
2 |
|
Actual
working hours |
3,782 |
|
|
|
|
|
----------- K |
|
Type of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
|
Unlimited
Duration Contracts |
1 |
2 |
2 |
|
|
Limited Duration
Contracts |
- |
- |
- |
|
|
Contracts For
Specific Work |
- |
- |
- |
|
|
Contracts
Regarding Substitution |
- |
- |
- |
|
|
|
|
|
|
|
|
|
||||
|
Gender and
Education Level |
|
|
|
\. |
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
|
Primary education |
- |
1 |
0 |
|
|
Secondairy
education |
- |
- |
- |
|
|
Higher
education (non university) |
- |
- |
- |
|
|
Higher
education (university) |
- |
- |
- |
|
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
|
Primary education |
- |
- |
- |
|
|
Secondairy
education |
1 |
1 |
1 |
|
|
Higher
education (non university) |
- |
- |
- |
|
|
Higher
education (university) |
- |
- |
- |
|
|
|
|
|
|
|
|
|
||||
|
Working Category |
Full-Time |
Part-Time |
Total
Fte |
\. |
|
Management |
- |
- |
- |
|
|
White collar
worker |
1 |
1 |
2 |
|
|
Blue collar
worker |
- |
1 |
0 |
|
|
Other |
- |
- |
- |
|
|
|
|
|
|
|
|
|
||||
|
Temporary
personnel |
|
Total |
|
\. |
|
Average number of
temporary staff |
- |
|
|
|
|
Actual working
hours |
|
- |
|
|
|
Cost of temporary
staff |
|
- |
|
|
|
|
|
|
|
J |
|
|
||||
|
New staff and
leavers |
Full-Time |
Part-Time |
Total
Fte |
|
|
New Starters |
- |
- |
- |
|
|
Leavers |
- |
- |
- |
|
JIC Code 218
Description Additional
national joint committee for the employees
category
JIC Code 324
Description Joint committee
for the industry and the trade in diamant
Category
Event Date 14/10/2011
Event Description
Event Details De 25870 bestaande
aandelen aan toonder om te zetten in aandelen op naam. 8623 van de 25870
bestaande aandelen worden omgezet in aandelen zonder stemrecht en behoren
thans aan Shah Dipak
|
Annual
accounts |
31-12-2012 |
|
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
94,787,654 |
-24.53 |
125,599,260 |
-8.95 |
137,944,504 |
40,445,514 |
134 |
|
Total operating
expenses |
93,854,938 |
-24.95 |
125,051,634 |
-8.90 |
137,261,078 |
40,129,325 |
133 |
|
Operating
result |
932,717 |
70.32 |
547,625 |
-19.87 |
683,425 |
128,804 |
624 |
|
Total
financial income |
42,113 |
33.12 |
31,635 |
940 |
3,039 |
92,610 |
-54.53 |
|
Total
financial expenses |
563,979 |
8.09 |
521,767 |
1.56 |
513,729 |
183,71 9 |
206 |
|
Results on ordinary operations before taxation |
410,851 |
614 |
57,493 |
-66.72 |
172,735 |
28,651 |
1333 |
|
Taxation |
562 |
199 |
188 |
-15.93 |
223 |
21,126 |
-97.34 |
|
Results on ordinary operations after taxation |
410,289 |
615 |
57,305 |
-66.78 |
172,512 |
13,941 |
2843 |
|
Extraordinary
items |
-4,548 |
-102 |
216,049 |
1273 |
15,726 |
-3,844 |
-18.31 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result OTHER INFORMATION |
405,741 |
48.43 |
273,354 |
45.22 |
188,237 |
10,119 |
3909 |
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
50,531 |
- |
|
Dividends |
- |
- |
- |
- |
- |
168,887 |
- |
|
Director
remuneration |
- |
- |
84,452 |
5.08 |
80,371 |
108,143 |
- |
|
Employee
costs |
79,656 |
1.26 |
78,666 |
7.72 |
73,031 |
137,902 |
-42.24 |
|
Wages and salary |
60,683 |
-1.57 |
61,649 |
3.31 |
59,675 |
118,594 |
-48.83 |
|
Employee pension costs |
- |
- |
- |
- |
- |
12,737 |
- |
|
Social security contributions |
11,676 |
5.31 |
11,088 |
37.55 |
8,061 |
29,295 |
-60.14 |
|
Other employee costs |
7,298 |
23.08 |
5,929 |
11.96 |
5,296 |
4,861 |
50.13 |
|
Amortization
and depreciation |
79,424 |
62.28 |
48,942 |
2.38 |
47,803 |
18,054 |
339 |
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
807 |
- |
2,420 |
- |
0 |
1,197 |
-32.61 |
|
Tangible
fixed assets |
1,118,298 |
5.03 |
1,064,717 |
147 |
430,252 |
188,724 |
492 |
|
Land & building |
618,090 |
2.24 |
604,530 |
61.59 |
374,120 |
372,714 |
65.83 |
|
Plant & machinery |
403,330 |
14.29 |
352,912 |
3571 |
9,612 |
25,397 |
1488 |
|
Furniture & Vehicles |
96,879 |
-9.69 |
107,276 |
130 |
46,519 |
16,918
5,029 |
472 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
139,170 30,812 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
11,599 |
-100 |
|
Financial
fixed assets |
347 |
-94.53 |
6,347 |
6419 |
97 |
234,444 |
-99 |
|
Total
fixed assets |
1,119,452 |
4.28 |
1,073,484 |
149 |
430,349 |
343,083 |
226 |
|
Inventories |
19,972,558 |
49.88 |
13,325,981 |
43.33 |
9,297,461 |
2,721,405 |
633 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
7,018,491 |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,513 |
-100 |
|
Finished goods |
19,972,558 |
49.88 |
13,325,981 |
43.33 |
9,297,461 |
1,752,867 |
1039 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
456,148 |
-100 |
|
Trade
debtors |
27,580,921 |
12.68 |
24,477,129 |
-12.98 |
28,128,310 |
3,673,672 |
650 |
|
Cash |
29,591 |
-95.30 |
629,241 |
2249 |
26,786 |
207,138 |
-85.71 |
|
other
amounts receivable |
444,428 |
9.25 |
406,809 |
27.05 |
320,205 |
211,968 |
109 |
|
Miscellaneous
current assets |
61,799 |
-9.22 |
68,076 |
9.38 |
62,241 |
14,803 |
317 |
|
Total
current assets |
48,089,298 |
23.60 |
38,907,236 |
2.83 |
37,835,003 |
6,367,592 |
655 |
|
Total
Assets |
49,208,751 |
23.08 |
39,980,721 |
4.48 |
38,265,352 |
6,672,355
1,217,713 |
637 |
|
|
CURRENT LIABILITIES |
|||||||
|
|
Trade creditors |
23,773,704 |
47.76 |
16,089,741 |
9.33 |
14,717,168 |
2,800,774 |
748 |
|
|
Short term group loans |
- |
- |
- |
- |
- |
- |
- |
|
|
Financial debts |
11,255,244 |
12.82 |
9,975,979 |
-1.16 |
10,093,181 |
3,614,307 150,000 |
211 |
|
|
Current portion of long term debt |
27,445 |
-24.69 |
36,442 |
73.15 |
21,047 |
90,305 14,039 |
-69.61 |
|
|
Amounts Payable for Taxes, Remuneration
& Social Security |
25,974 |
25.34 |
20,722 |
7.62 |
19,254 |
8,598- |
-26.35 |
|
|
Miscellaneous current liabilities |
295,431 |
-2.35 |
302,538 |
3.79 |
291,498 |
0.10 |
- - |
|
|
Total current liabilities |
35,377,797 |
33.88 |
26,425,421 |
5.10 |
25,142,147 |
4,732,803 |
647 |
|
|
LONG TERM DEBTS AND LIABILITIES |
|||||||
|
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
|
Other long term loans |
4,175,640 |
-3.02 |
4,305,727 |
3.83 |
4,146,987 |
302 |
- - |
|
|
Deffered taxes |
- |
- |
- |
- |
- |
40,313 31,040 |
- |
|
|
Provisions for Liabilities & Charges |
0 |
-0 |
-0 |
3,964 0 |
-100 |
||
|
|
Other long term liabilities |
0 |
-0 |
-0 |
92,747 |
-100 |
||
|
|
Total long term debts |
4,175,640 |
-3.02 |
4,305,727 |
3.83 |
4,146,987 |
497,055 |
740 |
|
|
SHAREHOLDERS EQUITY |
|||||||
|
|
Issued share capital |
8,560,410 |
0 |
8,560,410 |
0 |
8,560,410 |
869,039 |
885 |
|
|
Share premium account |
- |
- |
- |
- |
- |
89,810 |
- |
|
|
Reserves |
1,094,903 |
58.87 |
689,162 |
65.74 |
415,808 |
541,892 |
102 |
|
|
Revaluation reserve |
- |
- |
- |
- |
- |
927,466 |
- |
|
|
Total shareholders equity |
9,655,313 |
4.39 |
9,249,572 |
3.05 |
8,976,218 |
1,436,956 |
571 |
|
|
Working capital |
12,711,501 |
1.84 |
12,481,815 |
-1.66 |
12,692,856 |
1,634,789 |
677 |
|
|
Cashflow |
485,164 |
50.53 |
322,297 |
36.54 |
236,041 |
24,792 |
1856 |
|
|
Net worth |
9,654,506 |
4.41 |
9,247,152 |
3.02 |
8,976,218 |
1,434,239 |
573 |
|
Annual
accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
% |
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.43 |
760 |
0.05 |
-61.54 |
0.13 |
-10,00 |
4.30 |
|
Return
on capital employed |
2.97 |
607 |
0.42 |
-68.18 |
1.32 |
39,00 |
-92.38 |
|
Return
on total assets employed |
0.83 |
492 |
0.14 |
-68.89 |
0.45 |
-292,00 |
0.28 |
|
Return
on net assets employed |
4.26 |
587 |
0.62 |
-67.71 |
1.92 |
26,00 |
-83.62 |
|
Sales
/ net working capital |
7.46 |
-25.84 |
10.06 |
-7.45 |
10.87 |
64,00 |
-99 |
|
Stock
turnover ratio |
21.07 |
98.59 |
10.61 |
57.42 |
6.74 |
88,00 |
-76.06 |
|
Debtor
days |
106.21 |
49.32 |
71.13 |
-4.43 |
74.43 |
148,00 |
-28.24 |
|
Creditor
days SHORT TERM
STABILITY |
92.46 |
96.89 |
46.96 |
19.98 |
39.14 |
192,00 |
-51.84 |
|
Current
ratio |
1.36 |
-7.48 |
1.47 |
-2.00 |
1.50 |
6,00 |
-87.64 |
|
Liquidity
ratio / acid ratio |
0.79 |
-18.56 |
0.97 |
-14.91 |
1.14 |
4,00 |
-80.25 |
|
Current
debt ratio |
3.66 |
27.97 |
2.86 |
2.14 |
2.80 |
11,00 |
-66.73 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM
STABILITY |
|
|
|
|
|
|
|
|
Gearing |
160.10 |
3.42 |
154.80 |
-2.57 |
158.88 |
259,00 |
-38.19 |
|
Equity
in percentage |
19.62 |
-15.21 |
23.14 |
-1.36 |
23.46 |
-3.364,00 |
0.58 |
|
Total
debt ratio |
4.10 |
23.49 |
3.32 |
1.84 |
3.26 |
12,00 |
-65.83 |
Activity code 46761
Activity description Wholesale of
diamonds and other precious stones
Payment expectation days 92.46
Day sales outstanding 106.21
|
Payment expectations |
|
|
Company result |
92.46 |
|
Lower |
127.33 |
|
Median |
76.80 |
|
Upper |
45.69 |
Company result 106.21
Lower 106.72
Median 55.71
Upper 26.51
Group
Structure
No group structure for this company.
Minority
Shareholders
No minority shareholders found
Minority
Interests
No
minority interests found
|
Forename |
Rajiv Dinesh |
Middle
name |
- |
|
Surname |
Shah |
|
|
|
SHAREHOLDER
DETAILS |
|||
|
Start date |
22/03/1999 |
End
date |
- |
|
Percentage owned |
33.34% |
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street name |
Prins
Boudewijnlaan |
House
number |
157 |
|
Minor town |
- |
Postal
town |
Edegem |
|
Post code |
2650 |
Country |
Belgium |
|
SHAREHOLDER NAME |
|||
|
Forename |
Dipak |
Middle
name |
- |
|
Surname |
Shah |
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
28/10/2011(estimated) |
End
date |
- |
|
Percentage owned |
- |
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street name |
- |
House
number |
- |
|
Minor town |
- |
Postal
town |
- |
|
Post code |
- |
Country |
United
Arab Emirates |
|
SHAREHOLDER NAME |
|||
|
Forename |
ABHUBHAI |
Middle
name |
- |
|
Surname |
DESAI |
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
22/03/1999 |
End
date |
- |
|
Percentage owned |
33.33% |
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street name |
NORTH-SOUTH ROAD |
House number |
09 |
|
Minor town |
- |
Postal town |
BOMBAY |
|
Post code |
- |
Country |
India |
|
SHAREHOLDER NAME |
|||
|
Forename |
Amit |
Middle
name |
- |
|
Surname |
Shah |
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
22/03/1999 |
End
date |
- |
|
Percentage owned |
33.33% |
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street name |
-- |
House number |
-- |
|
Minor town |
-- |
Postal town |
-- |
|
Post code |
-- |
Country |
-- |
Court Data
There Is No Data For This Company
|
CURRENT DIRECTOR
DETAILS |
||
|
Name |
ANKIT NARESH
MEHTA |
|
|
Position |
Director |
|
|
Start Date |
21/12/1999 |
|
|
Street |
157 PRINS
BOUDEWIJNLAAN EDEGEM |
|
|
Post code |
2650 |
|
|
Country |
Belgium |
|
|
|
|
|
|
Name |
ANKIT NARESH
MEHTA |
|
|
Position |
Managing Director |
|
|
Start Date |
02/05/2006 |
|
|
Street |
157 PRINS
BOUDEWIJNLAAN EDEGEM |
|
|
Post code |
2650 |
|
|
Country |
Belgium |
|
|
|
|
|
|
Name |
KALPEN HARSHAD
SHAH |
|
|
Position |
Director |
|
|
Start Date |
01/04/2011 |
|
|
Street |
157 PRINS
BOUDEWIJNLAAN EDEGEM |
|
|
Post code |
2650 |
|
|
Country |
Belgium |
|
|
Name |
DILIP DESAI |
|
|
Position |
Director |
|
|
Start Date |
26/01/2001 |
|
|
End Date |
18/03/2011 |
|
|
Street |
4 BLAUWMEESLAAN
ANTWERPEN |
|
|
Post code |
2610 |
|
|
Country |
Belgium |
|
|
|
|
|
|
Name |
DILIP DESAI |
|
|
Position |
Managing Director |
|
|
Start Date |
02/05/2006 |
|
|
End Date |
18/03/2011 |
|
|
Street |
4 BLAUWMEESLAAN
ANTWERPEN |
|
|
Post code |
2610 |
|
|
Country |
Belgium |
|
|
|
|
|
|
Name |
NIMESH
PRAVINBHAI SHETH |
|
|
Position |
Director |
|
|
Start Date |
19/04/2005 |
|
|
End Date |
31/08/2007 |
|
|
Street |
94 LANGE
HERENTALSESTRAAT ANTWERPEN |
|
|
Post code |
2018 |
|
|
Country |
Belgium |
|
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.61.87 |
|
|
1 |
Rs.97.69 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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.