MIRA
INFORM REPORT
|
Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIAMOND - TRENDS S.R.L. |
|
|
|
|
Registered Office : |
Piazza G. Ambrosoli, 13, 15100 –
Alessandria (AL) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
19.02.1998 |
|
|
|
|
Com. Reg. No.: |
AL-1998-11573 of Alessandria |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesaler of clocks, watches and
jewellery |
|
|
|
|
No. of Employees : |
from 01 to 05 |
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 |
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|
|
|
Payment Behaviour : |
Slow but Correct |
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|
|
|
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) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
italy ECONOMIC OVERVIEW
Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is high. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level.
|
Source : CIA |
Company name & address
Diamond - Trends S.r.l.
Piazza G. Ambrosoli, 13
15100 - Alessandria (AL) -IT-
Summary
|
Fiscal Code |
: |
01783780065 |
|
Legal Form |
: |
Limited liability company |
|
start of Activities |
: |
01/05/1998 |
|
Equity |
: |
500.000 |
|
Turnover Range |
: |
3.750.000/5.000.000 |
|
Number of Employees |
: |
from 1 to 5 |
Activity
Wholesale of clocks, watches and jewellery
Legal Data
Legal Form : Limited liability company
|
Fiscal Code : 01783780065 |
|
Chamber of Commerce no. : 199758 of
Alessandria since 14/04/1998 |
|
Firms' Register : AL-1998-11573 of
Alessandria |
|
V.A.T. Code : 01783780065 |
|
R. E. C. no. : 38552 of Alessandria since
23/04/1998 |
|
Establishment date |
: 19/02/1998 |
|
|
Start of Activities |
: 01/05/1998 |
|
|
Legal duration |
: 30/06/2050 |
|
|
Nominal Capital |
: 30.600 |
|
|
Subscribed Capital |
: 30.600 |
|
|
Paid up Capital |
: 30.600 |
|
Members
|
|
Canepari |
Davide |
|
|
|
Born in Alessandria |
(AL) |
on 21/03/1976 |
- Fiscal Code : CNPDVD76C21A182C |
|
|
|
Residence: |
|
29 Aprile |
, 42 |
- 15048 |
Valenza |
(AL) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Sole Director |
12/05/1999 |
|
|
|
|
No Prejudicial
events are reported |
|
|
No Protests
registered |
Companies connected to members *
*checkings have been performed on a national
scale.
In this module are listed the companies in
which members hold or have holded positions.
|
|
Canepari |
Davide |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Canepari Davide |
Valenza (AL) - IT - |
CNPDVD76C21A182C |
Proprietor |
Withdrawn |
Ceased |
The indication "REGISTERED" as Firm
Status could refer to Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we
advise to request further investigations.
Capital Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
Canepari Davide |
Valenza - IT - |
CNPDVD76C21A182C |
229 .Eur |
0,75 |
|
Spriano Mariella |
|
SPRMLL54H61A182L |
229 .Eur |
0,75 |
|
Shah Hemang Rajendra |
|
SHHHNG83R29Z222D |
30.141 .Eur |
98,50 |
Direct Participations
The Company under review has no
participations in other Companies.
Firm's location and structure
In order to carry out its activities the
firm uses the following locations:
|
- |
Registered
office |
|
|
|
|
|
|
G. Ambrosoli |
, 13 |
- 15100 |
- Alessandria |
(AL) |
- IT - |
|
- |
Operative seat |
since 01/05/1998 |
|
|
|
|
|
|
Xxix Aprile |
, 42 |
- 15048 |
- Valenza |
(AL) |
- IT - |
|
|
|
|
PHONE |
: 0131954899 |
|
|
|
|
PHONE |
: 0131923328 |
|
|
|
|
FAX |
: 0131923334 |
|
|
|
|
Employees |
: 2 |
|
Fittings and Equipment for a value of
72.000 |
Eur |
|
Stocks for a value of 1.200.000 |
Eur |
|
|
Protests
Protests checking on the subject firm has
given a negative result.
Data Base Prejudicial Events
Search
Search performed on a National Scale
|
|
|
Prejudicial
Events Search Result: NEGATIVE |
Search performed on a specialized data base.
Legal Procedures
None reported, standing to the latest
received edition of the Official Publications.
Financial and Economical Analysis
The company is active since 1998
An eco-fin analysis has been made on the
base od the b/s fo the years 2010, 2011 and 2012.
Unstable economic results mark the company's
financial state of affairs. anyway in 2012 a positive result was achieved
(r.o.e. 93,14%). The turnover is growing in the last financial year (+66,52%).
The operating result was positive in the
last financial year (2,4%) and in line with the sector's average.
The amount of the operating result for the
year 2012 is of Eur. 275.973 showing an upward trend 21,21% compared to the
previous financial year.
The gross operating margin of the latest
financial year is of Eur. 283.708 with a 21,85% growth.
Financial condition is not balanced as own
capitals do not cover debts, indebtedness level is in fact high (25,51) which
tends downward.
The equity capital is equal to Eur. 424.665
with a growth of 1358,17% in 2012.
Total indebtedness was equal to Eur.
10.889.491 (Eur. 18.670 was the value of m/l term debts) , rising as opposed to
the previous year (+20,81%).
Liquidity is good.
The financial management generated a cash
flow of Eur. 403.277.
Labour cost expenses amount to Eur. 68.560 ,
representing 1,7% on the total of production costs. , whereas the incidence of
such costs on sales revenues is equal to 1,48%.
The financial charges are lower than the
financial incomes.
Financial Data
|
|
|
Complete balance-sheet for the year |
31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.621.018 |
|
Profit (Loss) for the period |
395.542 |
|
|
|
Complete balance-sheet for the year |
31/12/2011 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
2.775.038 |
|
Profit (Loss) for the period |
-38.251 |
|
|
|
Complete balance-sheet for the year |
31/12/2010 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.682.688 |
|
Profit (Loss) for the period |
19.756 |
|
|
|
Complete balance-sheet for the year |
31/12/2009 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.219.812 |
|
Profit (Loss) for the period |
-180.212 |
|
|
|
Complete balance-sheet for the year |
31/12/2008 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
1.719.452 |
|
Profit (Loss) for the period |
-11.639 |
Balance Sheets
From our constant monitoring of the relevant
Public Administration offices, no more recent balance sheets result to have
been filed.
|
- Balance Sheet as
at 31/12/2012 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1 |
|
- Balance Sheet
as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1 |
|
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|
RATIOS |
Value
Type |
as at 31/12/2012 |
as at 31/12/2011 |
as at 31/12/2010 |
Sector Average |
|
COMPOSITION ON
INVESTMENT |
|
|
|
|
|
|
Rigidity Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,09 |
|
Elasticity Ratio |
Units |
1,00 |
1,00 |
1,00 |
0,89 |
|
Availability of stock |
Units |
0,10 |
0,16 |
0,17 |
0,26 |
|
Total Liquidity Ratio |
Units |
0,89 |
0,83 |
0,83 |
0,54 |
|
Quick Ratio |
Units |
0,00 |
0,01 |
0,00 |
0,03 |
|
COMPOSITION ON
SOURCE |
|
|
|
|
|
|
Net Short-term indebtedness |
Units |
25,51 |
305,29 |
109,98 |
3,95 |
|
Self Financing Ratio |
Units |
0,04 |
0,00 |
0,01 |
0,17 |
|
Capital protection Ratio |
Units |
0,00 |
1,26 |
0,25 |
0,62 |
|
Liabilities consolidation quotient |
Units |
0,00 |
0,00 |
0,00 |
0,10 |
|
Financing |
Units |
25,64 |
309,48 |
110,23 |
4,85 |
|
Permanent Indebtedness Ratio |
Units |
0,04 |
0,01 |
0,01 |
0,29 |
|
M/L term Debts Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,07 |
|
Net Financial Indebtedness Ratio |
Units |
n.c. |
n.c. |
n.c. |
1,04 |
|
CORRELATION |
|
|
|
|
|
|
Fixed assets ratio |
Units |
23,56 |
2,66 |
12,54 |
2,37 |
|
Current ratio |
Units |
1,06 |
1,02 |
1,03 |
1,18 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
0,94 |
0,85 |
0,86 |
0,80 |
|
Structure's primary quotient |
Units |
21,47 |
1,07 |
10,23 |
1,48 |
|
Treasury's primary quotient |
Units |
0,00 |
0,01 |
0,00 |
0,04 |
|
Rate of indebtedness ( Leverage ) |
% |
2706,59 |
31657,69 |
11384,11 |
602,26 |
|
Current Capital ( net ) |
Value |
601.599 |
203.212 |
233.915 |
191.984 |
|
RETURN |
|
|
|
|
|
|
Return on Sales |
% |
8,73 |
-1,19 |
0,46 |
2,03 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
93,14 |
-131,34 |
29,32 |
6,31 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
106,77 |
134,32 |
205,09 |
17,00 |
|
Return on Investment ( R.O.I. ) |
% |
2,40 |
2,47 |
5,61 |
4,18 |
|
Return/ Sales |
% |
5,97 |
8,20 |
9,19 |
3,46 |
|
Extra Management revenues/charges incid. |
% |
143,33 |
-16,80 |
4,59 |
27,96 |
|
Cash Flow |
Value |
403.277 |
-33.094 |
21.531 |
44.823 |
|
Operating Profit |
Value |
275.973 |
227.666 |
430.119 |
74.603 |
|
Gross Operating Margin |
Value |
283.708 |
232.823 |
431.894 |
111.383 |
|
MANAGEMENT |
|
|
|
|
|
|
Credits to clients average term |
Days |
n.c. |
n.c. |
n.c. |
113,70 |
|
Debts to suppliers average term |
Days |
n.c. |
n.c. |
n.c. |
118,14 |
|
Average stock waiting period |
Days |
93,83 |
195,77 |
99,76 |
72,90 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,40 |
0,30 |
0,61 |
1,25 |
|
Rate of stock return |
Units |
3,84 |
1,84 |
3,61 |
4,88 |
|
Labour cost incidence |
% |
1,48 |
1,73 |
0,81 |
8,14 |
|
Net financial revenues/ charges incidence |
% |
3,94 |
-5,71 |
-4,65 |
-1,38 |
|
Labour cost on purchasing expenses |
% |
1,70 |
1,74 |
0,83 |
8,25 |
|
Short-term financing charges |
% |
n.c. |
1,76 |
2,93 |
2,76 |
|
Capital on hand |
% |
248,73 |
332,24 |
163,79 |
79,85 |
|
Sales pro employee |
Value |
2.310.509 |
2.775.038 |
4.682.688 |
397.742 |
|
Labour cost pro employee |
Value |
34.280 |
48.063 |
37.858 |
33.267 |
Market / Territory Data
|
Population living in the province |
: |
|
|
Population living in the region |
: |
|
|
Number of families in the region |
: |
|
429.080Monthly family expenses average in the
region (in Eur..) :
|
- per food products |
: |
429 |
|
- per non food products |
: |
1.789 |
|
- per energy consume |
: |
|
SectOr Data
The values are calculated on a base of 9.175
significant companies.
The companies cash their credits on an
average of 114 dd.
The average duration of suppliers debts is
about 118 dd.
The sector's profitability is on an average
of 2,03%.
The labour cost affects the turnover in the
measure of 8,14%.
Goods are held in stock in a range of 73 dd.
The difference between the sales volume and
the resources used to realize it is about 1,25.
The employees costs represent the 8,25% of
the production costs.
Statistical Detrimental Data
Statistically the trade activity shows
periods of crisis.
The area is statistically considered
moderately risky.
In the region 27.019 protested subjects are
found; in the province they count to 2.105.
The insolvency index for the region is 0,63,
, while for the province it is 0,50.
Total Bankrupt companies in the province :
1.755.
Total Bankrupt companies in the region :
14.165.
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.62.18 |
|
UK Pound |
1 |
Rs.102.31 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.