|
Report Date : |
30.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
STARGEMS BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 111, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.02.1990 |
|
|
|
|
Com. Reg. No.: |
440106618 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and other precious stones. |
|
|
|
|
No of Employees : |
01 (31.12.2013) |
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 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Belgium |
A2 |
A2 |
|
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 440106618
Company name STARGEMS BVBA
Address HOVENIERSSTRAAT
30-BUS 111
2018 ANTWERPEN
Number of staff 01
(31.12.2013)
Date of establishment 02/02/1990
Telephone number 032336804
Fax number 032334450
The business was established over 24 years ago.
The business has 1 employees.
The business has been at the address for over 14 years.
Net Worth increased by 21% during the latest trading period.
The business saw a decrease in their Cash Balance of 97% during the
latest trading period.
|
ACCOUNTS |
||||
|
DATE
OF LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2013 |
119,923,710 |
301,557 |
18,702,310 |
18,664,918 |
|
31/12/2012 |
110,128,634 |
340,529 |
15,437,528 |
15,379,290 |
|
31/12/2011 |
133,701,499 |
277,222 |
12,919,513 |
12,855,049 |
|
|
|
|
|
|
|
ACCOUNTS |
|
|
|
|
|
DATE
OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
48,901,621 |
1 |
17,397,391 |
326,332 |
|
31/12/2012 |
54,239,567 |
0 |
14,394,864 |
359,943 |
|
31/12/2011 |
45,988,824 |
0 |
11,993,092 |
300,443 |
|
Payment
expectations |
||||
|
Past
payments |
|
Payment expectation days |
11.36 |
|
|
Industry
average payment expectation days |
124.16 |
Industry
average day sales outstanding |
141.16 |
|
|
Day
sales outstanding |
127.92 |
|
|
|
|
Court
data summary |
||||
|
BANKRUPTCY
DETAILS |
||||
|
Court
action type |
no |
|
|
|
|
PROTESTED
BILLS |
||||
|
Bill
amount |
||||
|
NSSO
DETAILS |
||||
|
Date
of summons |
08/05/2001 |
|
|
|
|
Business number |
440106618 |
Company name |
STARGEMS BVBA |
|
Fax number |
032334450 |
Date founded |
02/02/1990 |
|
Company status |
active |
Company type |
Private Limited Company (BL/LX) |
|
Currency |
Euro (€) |
Date of latest accounts |
31/12/2013 |
|
Activity code |
46761 |
Liable for VAT |
Yes |
|
Activity description |
Wholesaler of diamonds and other
precious stones |
VAT Number |
BE.0440.106.618 Check VAT |
|
Belgian Bullettin of Acts |
moniteur belge |
|
|
Significant Events
Event Date 31/12/2013
Event Description
Event Details De 1501 nieuwe
aandelen worden toegekend aan de vennootschap Stargems Holding Limited.
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
|
Total
fixed assets |
116,921 |
-17.29 |
141,363 |
-24.83 |
188,063 |
26.63 |
148,511 |
75.45 |
84,645 |
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Tangible
fixed assets |
116,921 |
-17.29 |
141,363 |
-24.83 |
188,063 |
26.63 |
148,511 |
75.45 |
84,645 |
|
|
Land
& building |
72,857 |
-8.55 |
79,665 |
-27.41 |
109,747 |
28.20 |
85,603 |
3.62 |
82,616 |
|
|
Plant
& machinery |
10,788 |
-15.69 |
12,796 |
-2.91 |
13,180 |
903 |
1,313 |
-35.29 |
2,029 |
|
|
Furniture
& Vehicles |
33,276 |
-31.95 |
48,901 |
-24.92 |
65,136 |
5.75 |
61,594 |
- |
- |
|
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Other
tangible assets |
0 |
-100 |
1 |
- |
0 |
-100 |
1 |
- |
0 |
|
|
Financial
fixed assets |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Total
current assets |
48,784,700 |
-9.82 |
54,098,204 |
18.12 |
45,800,761 |
64.79 |
27,793,968 |
-11.36 |
31,356,608 |
|
|
Inventories |
6,378,790 |
-10.16 |
7,100,547 |
-8.99 |
7,801,675 |
202 |
2,579,861 |
-15.62 |
3,057,394 |
|
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Work
in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Finished
goods |
6,378,790 |
-10.16 |
7,100,547 |
-8.99 |
7,801,675 |
202 |
2,579,861 |
-15.62 |
3,057,394 |
|
|
Other
stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Trade
debtors |
42,028,461 |
-6.28 |
44,846,203 |
19.45 |
37,543,718 |
49.96 |
25,035,009 |
-11.19 |
28,189,146 |
|
|
Other
amounts receivable |
324,457 |
29.18 |
251,175 |
10.26 |
227,797 |
132 |
97,937 |
152 |
38,715 |
|
|
Cash |
49,922 |
-97.37 |
1,896,348 |
733 |
227,571 |
197 |
76,598 |
7.75 |
71,088 |
|
|
Miscellaneous
current assets |
3,070 |
-21.90 |
3,931 |
- |
0 |
-100 |
4,563 |
1617 |
266 |
|
|
Total
Assets |
48,901,621 |
-9.84 |
54,239,567 |
17.94 |
45,988,824 |
64.58 |
27,942,479 |
-11.13 |
31,441,253 |
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
18,702,310 |
21.15 |
15,437,528 |
19.49 |
12,919,513 |
109 |
6,168,531 |
11.17 |
5,548,853 |
|
|
Issued
share capital |
17,397,391 |
20.86 |
14,394,864 |
20.03 |
11,993,092 |
111 |
5,682,670 |
7.81 |
5,270,784 |
|
|
Share
premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Revaluation
reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Reserves |
1,304,919 |
25.15 |
1,042,664 |
12.55 |
926,421 |
90.68 |
485,861 |
74.73 |
278,069 |
|
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Deffered
taxes |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Creditors |
30,199,311 |
-22.17 |
38,802,040 |
17.34 |
33,069,311 |
51.88 |
21,773,950 |
-15.91 |
25,892,400 |
|
|
Other
long term loans |
- |
- |
- |
- |
13,919 |
-36.46 |
21,906 |
-32.54 |
32,472 |
|
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Other
long term liabilities |
79,529 |
-4.33 |
83,125 |
-24.21 |
109,680 |
-85.49 |
755,644 |
7.81 |
700,875 |
|
|
Total
long term debts |
79,529 |
-4.33 |
83,125 |
-32.75 |
123,599 |
-84.10 |
777,550 |
6.03 |
733,347 |
|
|
Current
portion of long term debt |
- |
- |
11,710 |
-18.82 |
14,425 |
36.51 |
10,567 |
5.52 |
10,015 |
|
|
Financial
debts |
26,338,131 |
-10.05 |
29,280,042 |
24.05 |
23,603,670 |
40.26 |
16,828,916 |
-18.99 |
20,772,677 |
|
|
Trade
creditors |
3,683,006 |
-59.66 |
9,129,383 |
13.32 |
8,056,332 |
285 |
2,087,698 |
-51.10 |
4,269,569 |
|
|
Amounts
Payable for Taxes, Remuneration & Social
Security |
6,243 |
-24.65 |
8,285 |
96.09 |
4,225 |
-9.84 |
4,686 |
-83.42 |
28,260 |
|
|
Miscellaneous current
liabilities |
92,402 |
-68.08 |
289,494 |
-77.15 |
1,267,060 |
-38.63 |
2,064,532 |
2528 |
78,532 |
|
|
Total current
liabilities |
30,119,782 |
-22.21 |
38,718,914 |
17.52 |
32,945,712 |
56.91 |
20,996,399 |
-16.55 |
25,159,053 |
|
|
Total Liabilities |
48,901,621 |
-9.84 |
54,239,567 |
17.94 |
45,988,824 |
64.58 |
27,942,480 |
-11.13 |
31,441,253 |
|
Ratio Analysis |
|
|
|
|
|
|
|
|
|
|||||
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
|
|||||
|
Profit
Before Tax |
0.25 |
-19.35 |
0.31 |
47.62 |
0.21 |
-34.38 |
0.32 |
88.24 |
0.17 |
|||||
|
Return
on capital employed |
1.61 |
-26.48 |
2.19 |
2.82 |
2.13 |
-23.38 |
2.78 |
105 |
1.35 |
|||||
|
Return
on total assets employed |
0.62 |
-1.59 |
0.63 |
5.00 |
0.60 |
-13.04 |
0.69 |
155 |
0.27 |
|||||
|
Return
on net assets employed |
1.61 |
-27.15 |
2.21 |
2.79 |
2.15 |
-31.31 |
3.13 |
105 |
1.52 |
|||||
|
Sales
/ net working capital |
6.43 |
-10.20 |
7.16 |
-31.15 |
10.40 |
17.91 |
8.82 |
12.50 |
7.84 |
|||||
|
Stock
turnover ratio |
5.32 |
-17.52 |
6.45 |
10.45 |
5.84 |
35.81 |
4.30 |
-31.64 |
6.29 |
|||||
|
Creditor
days |
11.36 |
-62.92 |
30.64 |
37.96 |
22.21 |
72.71 |
12.86 |
-60.48 |
32.54 |
|||||
|
Debtor
days |
127.92 |
-13.93 |
148.63 |
45.02 |
102.49 |
-32.72 |
152.34 |
-28.06 |
211.76 |
|||||
|
SHORT
TERM STABILITY |
|
|
|
|
|
|
|
|
|
|||||
|
Current
ratio |
1.62 |
15.71 |
1.40 |
0.72 |
1.39 |
5.30 |
1.32 |
5.60 |
1.25 |
|||||
|
Liquidity
ratio / acid ratio |
1.41 |
16.53 |
1.21 |
5.22 |
1.15 |
-4.17 |
1.20 |
7.14 |
1.12 |
|||||
|
Current
debt ratio |
1.61 |
-35.86 |
2.51 |
-1.57 |
2.55 |
-25.00 |
3.40 |
-24.94 |
4.53 |
|||||
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||||
|
Cashflow |
326,332 |
-9.34 |
359,943 |
19.80 |
300,443 |
55.64 |
193,043 |
159 |
74,485 |
|
||||
|
Net
worth |
18,702,310 |
21.15 |
15,437,528 |
19.49 |
12,919,513 |
109 |
6,168,531 |
11.17 |
5,548,853 |
|
||||
|
LONG TERM
STABILITY |
|
|
|
|
|
|
|
|
|
|
||||
|
Gearing |
140.83 |
-25.78 |
189.74 |
3.73 |
182.92 |
-33.08 |
273.35 |
-27.13 |
375.13 |
|
||||
|
Equity
in percentage |
38.24 |
34.36 |
28.46 |
1.32 |
28.09 |
27.22 |
22.08 |
25.10 |
17.65 |
|
||||
|
Total
debt ratio |
1.61 |
-35.86 |
2.51 |
-1.95 |
2.56 |
-27.48 |
3.53 |
-24.41 |
4.67 |
|
||||
|
Working
capital |
18,664,918 |
21.36 |
15,379,290 |
19.64 |
12,855,049 |
89.11 |
6,797,569 |
9.68 |
6,197,556 |
|
||||
|
PROFIT &
LOSS |
|
|
|
|
|
|
|
|
|
|
||||
|
Operating
Income |
119,924,454 |
8.89 |
110,131,225 |
-17.63 |
133,703,216 |
122 |
59,983,631 |
23.38 |
48,617,930 |
|
||||
|
Turnover |
119,923,710 |
8.89 |
110,128,634 |
-17.63 |
133,701,499 |
122 |
59,983,631 |
23.45 |
48,587,549 |
|
||||
|
Total
operating expenses |
118,337,090 |
8.80 |
108,764,507 |
-17.84 |
132,380,062 |
123 |
59,261,757 |
23.73 |
47,895,909 |
|
||||
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
||||
|
Operating
Charges |
118,337,834 |
8.80 |
108,767,098 |
-17.84 |
132,381,779 |
123 |
59,261,758 |
23.65 |
47,926,291 |
|
||||
|
Employee
costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
||||
|
Wages
and salary |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
||||
|
Employee
pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
||||
|
Social
security contributions |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
||||
|
Other
employee costs |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
||||
|
Director
remuneration |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
||||
|
Amortization
and depreciation |
18,953 |
-2.37 |
19,414 |
-16.39 |
23,221 |
232 |
6,982 |
80.89 |
3,860 |
|
||||
|
Operating
result |
1,586,620 |
16.31 |
1,364,127 |
3.23 |
1,321,437 |
83.06 |
721,874 |
4.37 |
691,640 |
|
||||
|
Total
financial income |
91,576 |
-9.63 |
101,331 |
-94.98 |
2,017,653 |
696 |
253,409 |
315 |
60,969 |
|
||||
|
Total
financial expenses |
1,376,639 |
22.38 |
1,124,929 |
-63.26 |
3,061,868 |
291 |
782,098 |
17.06 |
668,102 |
|
||||
|
Results
on ordinary operations before taxation |
301,557 |
-11.44 |
340,529 |
22.84 |
277,222 |
43.50 |
193,184 |
128 |
84,506 |
|
||||
|
Extraordinary
income |
6,286 |
- |
- |
- |
- |
- |
1,187 |
- |
- |
|
||||
|
Extraordinary
charges |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
||||
|
Extraordinary
items |
6,286 |
- |
- |
- |
- |
- |
1,187 |
- |
- |
|
||||
|
Results
for the year before taxations |
307,843 |
-9.60 |
340,529 |
22.84 |
277,222 |
42.63 |
194,371 |
130 |
84,506 |
|
||||
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||||
|
Taxation |
464 |
- |
- |
- |
- |
- |
8,310 |
-40.13 |
13,881 |
|||||
|
Results on
ordinary operations after taxation |
301,093 |
-11.58 |
340,529 |
22.84 |
277,222 |
49.95 |
184,874 |
161 |
70,625 |
|||||
|
Net result |
307,379 |
-9.73 |
340,529 |
22.84 |
277,222 |
49.00 |
186,061 |
163 |
70,625 |
|||||
|
Profit (Loss)
for the Year to be appropriated |
307,379 |
-9.73 |
340,529 |
22.84 |
277,222 |
49.00 |
186,061 |
163 |
70,625 |
|||||
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesaler
of diamonds and other precious stones |
|
Payment
expectations |
|
|
Payment
expectation days |
11.36 |
|
Day
sales outstanding |
127.92 |
|
|
|
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesaler
of diamonds and other precious stones |
|
Industry
average payment expectation days |
124.16 |
|
Industry
average day sales outstanding |
141.16 |
|
|
|
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
11.36 |
|
Lower |
122.34 |
|
Median |
75.64 |
|
Upper |
46.53 |
|
Day
sales outstanding |
|
|
Company
result |
127.92 |
|
Lower |
102.84 |
|
Median |
54.51 |
|
Upper |
24.07 |
Group Structure
No group structure for this company
Minority
Shareholders
|
Business number |
Company
name |
% |
Date of |
|
|
|
|
accounts |
|
- |
STERLING STAR TRADING (L.L.C) |
16.11 |
- |
Minority
Interests
No minority interest found
Individual Shareholders
Shareholder Name
|
Forename |
Shailesh |
Middle name |
- |
|
Surname |
Javeri |
|
|
|
|
|
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
11/12/2009 (estimated) |
End date |
- |
|
Percentage
owned |
8.09% |
|
|
|
|
|
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
Fazantenlaan |
House number |
24 |
|
Minor town |
Wilrijk |
Postal town |
Antwerpen |
|
Post code |
2610 |
Country |
Belgium |
|
|
|
|
|
|
SHAREHOLDER
NAME |
|
|
|
|
Forename |
Karan |
Middle name |
- |
|
Surname |
Javeri |
|
|
|
|
|
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
10/05/2011(estimated) |
End date |
- |
|
Percentage
owned |
7.25% |
|
|
|
|
|
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
- |
House number |
- |
|
Minor town |
- |
Postal town |
- |
|
Post code |
- |
Country |
United Arab Emirates |
|
|
|
|
|
|
SHAREHOLDER
NAME |
|
|
|
|
Forename |
Bhavesh |
Middle name |
- |
|
Surname |
Javeri |
|
|
|
|
|
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
11/12/2009(estimated) |
End date |
- |
|
Percentage
owned |
68.55% |
|
|
|
|
|
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
- |
House number |
- |
|
Minor town |
- |
Postal town |
- |
|
Post code |
- |
Country |
United Arab Emirates |
|
Summons |
|
|
Legal event type |
Social Security Summons |
|
Event date |
08/05/2001 |
|
|
|
|
Court type |
Court name |
|
Creditor's name |
3rd party type |
Summons
There is no data for this company
Protested Bills
There is no data for this company
Bankruptcy and other legal events
There is no data for this company
CURRENT DIRECTOR
DETAILS
|
Name |
SHAILESH JAVERI |
|
Position |
Principal Manager |
|
Start Date |
27/10/2010 |
|
Date of birth |
09/11/1956 |
|
Street |
24 FAZANTENLAAN ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
FORMER
DIRECTOR DETAILS |
|
|
Former mandates in other companies |
|
|
Name |
Starchems In vereffening BVBA |
|
Business number |
478805460 |
|
Position |
Principal Manager |
|
Start Date |
07/11/2002 |
|
End Date |
Unknown date |
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.63.65 |
|
|
1 |
Rs.99.14 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.