MIRA
INFORM REPORT
|
Report Date : |
20.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAMIR GEMS NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 30
2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.04.1982 |
|
|
|
|
Com. Reg. No.: |
423673729 |
|
|
|
|
Legal Form : |
Public Limited Liability
Company |
|
|
|
|
Line of Business : |
Wholesale of
diamonds and precious stones |
|
|
|
|
No. of Employees : |
02 |
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 : |
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) |
|
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 |
423673729 |
|
Company name |
SAMIR GEMS NV |
|
Address |
HOVENIERSSTRAAT 30 |
|
|
2018 ANTWERPEN |
|
Number of staff |
2 |
|
Date of
establishment |
01/04/1982 |
|
Telephone number |
032275853 |
|
Fax number |
032264549 |
|
Business number |
423673729 |
Company name |
SAMIR GEMS NV |
|
Fax number |
032264549 |
Date founded |
01/04/1982 |
|
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.0423.673.729 |
|
Belgian Bullettin
of Acts Publications |
|
|
DIRECTORS/MANAGEMENT
Current director
details
|
Name |
|
|
Position |
Director |
|
Start Date |
27/04/2013 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Managing Director |
|
Start Date |
27/04/2013 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Managing Director |
|
Start Date |
28/04/2007 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Chairman of the
Board |
|
Start Date |
27/03/1996 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Director |
|
Start Date |
27/03/1996 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
Former director details
|
Name |
|
|
Position |
Director |
|
Start Date |
28/04/2007 |
|
End Date |
31/12/2010 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Director |
|
Start Date |
28/04/2007 |
|
End Date |
28/04/2013 |
|
Street |
5 FLAMINGOLAAN
ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
|
|
Position |
Director |
|
Start Date |
28/04/2007 |
|
End Date |
27/04/2013 |
|
Street |
102 BELGIËLEI
ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
NEGATIVE INFORMATION
../../SCARLET_BACK-UPREPORTSservicescompany_searchcourt_data.aspx?CompanyNumber=423673729Court
data summary
|
Bankruptcy details |
|
|
Court action type |
no |
|
Protested bills |
|
|
Bill amount |
- |
|
NSSO details |
|
|
Date of summons |
- |
Personnel (NSSO
classification)
|
Code |
- |
|
Description |
FROM 1 TO 4
EMPLOYEES |
Joint Industrial
Committee (JIC)
|
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 |
|
Significant Events
|
Event Date |
15/05/2013 |
|
Event Description |
|
|
Event Details |
De heer Samir
Bhansali schrijft in op 61 nieuwe aandelen en de heer Anjal Bhansali schrijft
in op 671 nieuwe aandelen. |
NSSO details
|
Business number |
423673729 |
|
Name of
defendant |
- |
|
Legal form of
defendant |
- |
|
Date of summons |
- |
|
Labour court |
- |
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 |
Individual
Shareholders
|
Shareholder Name |
|||
|
Forename |
Anjal |
Middle name |
- |
|
Surname |
Bhansali |
|
|
|
Shareholder
Details |
|||
|
Start date |
03/06/2013(estimated) |
End date |
- |
|
Percentage owned |
- |
|
|
|
Shareholder
Address |
|||
|
Street name |
Flamingolaan |
House number |
5 |
|
Minor town |
Wilrijk |
Postal town |
Antwerpen |
|
Post code |
2610 |
Country |
Belgium |
|
Shareholder Name |
|||
|
Forename |
Samir |
Middle name |
- |
|
Surname |
Bhansali |
|
|
|
Shareholder
Details |
|||
|
Start date |
03/11/1999(estimated) |
End date |
- |
|
Percentage owned |
- |
|
|
|
Shareholder
Address |
|||
|
Street name |
Flamingolaan |
House number |
5 |
|
Minor town |
Wilrijk |
Postal town |
Antwerpen |
|
Post code |
2610 |
Country |
Belgium |
PAYMENT INFORMATION
expectations
|
Past payments |
|
Payment
expectation days |
24.18 |
|
Industry average
payment expectation days |
166.75 |
Industry average
day sales outstanding |
118.14 |
|
Day sales
outstanding |
105.05 |
||
Industry
comparison
|
Activity code |
46761 |
|
Activity
description |
Wholesale of diamonds
and other precious stones |
|
industry average
credit rating |
64.48 |
|
Industry average
credit limit |
140177.31 |
Suspension of
payments / moratorium history
|
Amount |
- |
|
Details |
- |
Payment
expectations
|
Payment
expectation days |
24.18 |
|
Day sales
outstanding |
105.05 |
Industry
comparison
|
Activity code |
46761 |
|
Activity
description |
Wholesale of
diamonds and other precious stones |
|
Industry average
payment expectation days |
166.75 |
|
Industry average
day sales outstanding |
118.14 |
Industry quartile
analysis
|
Payment
expectations |
|
|
Company result |
24.18 |
|
Lower |
134.36 |
|
Median |
84.93 |
|
Upper |
44.86 |
|
Day sales
outstanding |
|
|
Company result |
105.05 |
|
Lower |
112.73 |
|
Median |
58.56 |
|
Upper |
28.58 |
GROUP STRUCTURE & AFFILIATED
COMPANIES
Ultimate holding
company
|
Company name |
|
Company Number |
View linked
companies from outside this company's group structure |
|
- |
|
- |
No linked companies
have been found. |
Summary
|
Group - Number of
Companies |
0 |
|
Linkages - Number
of Companies |
0 |
|
Number of
Countries |
0 |
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 |
191,552,565 |
330,932 |
24,995,866 |
26,673,403 |
|
31/12/2011 |
174,837,311 |
295,488 |
24,800,692 |
26,911,703 |
|
31/12/2010 |
113,159,559 |
159,690 |
24,609,401 |
26,660,445 |
Accounts
|
Date of latest
accounts |
Balance Total |
Number of
Employees |
Capital |
Cashflow |
|
31/12/2012 |
93,805,441 |
2 |
20,000,000 |
293,861 |
|
31/12/2011 |
67,971,294 |
2 |
20,000,000 |
292,956 |
|
31/12/2010 |
47,948,150 |
2 |
20,000,000 |
178,367 |
Social Balance
Sheet Details
|
Social Balance
Sheet |
Total |
|
During the
reporting year |
|
|
Full-time
Employees |
2 |
|
Part-time
Employees |
1 |
|
Total Fte
Employees |
3 |
|
|
|
|
Number of hours
worked |
|
|
Full-time
Employees |
2,690 |
|
Part-time
Employees |
1,040 |
|
Total |
3,730 |
|
|
|
|
Personnel Charges |
|
|
Full-time
Employees |
52,525 |
|
Part-time
Employees |
20,890 |
|
Total |
73,416 |
|
Benefits In
Addition To Wages |
- |
|
|
|
|
During the previous
reporting year |
|
|
Average number
employees in Fte |
3 |
|
Actual working
hours |
4,824 |
|
Personnel Charges |
85,382 |
|
Benefits In
Addition To Wages |
- |
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration
Contracts |
2 |
1 |
3 |
|
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 |
- |
- |
- |
|
Higher education
(non university) |
- |
- |
- |
|
Higher education
(university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondairy
education |
2 |
1 |
3 |
|
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 |
- |
1 |
|
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 |
- |
- |
- |
|
Leavers |
- |
- |
- |
|
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 |
- |
- |
|
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 |
191,552,565 |
9.56 |
174,837,311 |
54.51 |
113,159,559 |
46,188,124 |
314 |
|
|
Total operating
expenses |
189,863,922 |
9.62 |
173,199,565 |
54.59 |
112,040,485 |
45,792,277 |
314 |
|
|
1,688,643 |
3.11 |
1,637,746 |
46.35 |
1,119,074 |
149,257 |
1031 |
|
|
|
1,153 |
-65.76 |
3,367 |
-24.10 |
4,436 |
98,814 |
-98.83 |
|
|
|
1,358,864 |
0.98 |
1,345,625 |
39.61 |
963,820 |
206,175 |
559 |
|
|
|
330,932 |
11.99 |
295,488 |
85.04 |
159,690 |
33,122 |
899 |
|
|
|
135,758 |
30.29 |
104,197 |
96.34 |
53,070 |
20,980 |
547 |
|
|
|
195,174 |
2.03 |
191,291 |
79.41 |
106,620 |
18,209 |
971 |
|
|
|
0 |
- |
0 |
- |
0 |
-4,771 |
0 |
|
|
|
0.00 |
- |
0.00 |
- |
0 |
- |
- |
|
|
|
195,174 |
2.03 |
191,291 |
79.41 |
106,620 |
13,454 |
1350 |
|
|
|
other information |
|||||||
|
|
- |
- |
- |
- |
- |
172,177 |
- |
|
|
|
102,036 |
-8.85 |
111,938 |
4.70 |
106,913 |
114,096 |
-10.57 |
|
|
|
73,416 |
-14.01 |
85,382 |
7.00 |
79,793 |
129,010 |
-43.09 |
|
|
|
59,601 |
-16.46 |
71,344 |
8.65 |
65,666 |
107,733 |
-44.68 |
|
|
|
- |
- |
- |
- |
- |
14,428 |
- |
|
|
|
12,212 |
-7.88 |
13,256 |
7.70 |
12,308 |
27,134 |
-55.00 |
|
|
|
1,603 |
104 |
782 |
-57.00 |
1,819 |
4,472 |
-64.16 |
|
|
|
98,687 |
-2.93 |
101,664 |
41.70 |
71,747 |
17,629 |
459 |
|
|
|
||||||||
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 |
1,614 |
-100 |
|
|
|
3,299,814 |
-1.62 |
3,354,002 |
-2.76 |
3,449,242 |
179,841 |
1734 |
|
|
|
3,158,060 |
-0.86 |
3,185,433 |
-2.09 |
3,253,334 |
351,498 |
798 |
|
|
|
11,501 |
-19.98 |
14,372 |
-21.51 |
18,311 |
22,362 |
-48.57 |
|
|
|
130,254 |
-15.53 |
154,196 |
-13.18 |
177,597 |
17,390 5,364 |
649 |
|
|
|
- |
- |
- |
- |
- |
142,153 32,369 |
- |
|
|
|
0 |
- |
0 |
- |
0 |
7,932 |
-100 |
|
|
|
262,264 |
2038 |
12,264 |
0.00 |
12,264 |
297,220 |
-11.76 |
|
|
|
3,562,078 |
5.82 |
3,366,266 |
-2.75 |
3,461,506 |
384,269 |
826 |
|
|
|
33,947,904 |
47.29 |
23,047,918 |
49.94 |
15,371,592 |
3,089,287 |
998 |
|
|
|
- |
- |
- |
- |
- |
7,209,884 |
- |
|
|
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,497 |
-100 |
|
|
33,947,904 |
47.29 |
23,047,918 |
49.94 |
15,371,592 |
1,967,160 |
1625 |
|
|
|
0 |
- |
0 |
- |
0 |
580,371 |
-100 |
|
|
|
55,129,437 |
34.84 |
40,885,500 |
42.48 |
28,694,915 |
4,142,083 |
1230 |
|
|
|
Cash |
901,577 |
188 |
312,953 |
180 |
111,570 |
224,018 |
302 |
|
|
263,895 |
-26.42 |
358,657 |
16.23 |
308,567 |
185,620 |
42.17 |
|
|
|
550 |
- |
0 |
- |
0 |
18,072 |
-96.96 |
|
|
|
90,243,362 |
39.68 |
64,605,028 |
45.22 |
44,486,644 |
7,184,048 |
1156 |
|
|
|
93,805,441 |
38.01 |
67,971,294 |
41.76 |
47,948,150 |
7,536,892
1,449,923 |
1144 |
|
|
|
current
liabilities |
|||||||
|
|
12,576,255 |
122 |
5,659,278 |
221 |
1,758,047 |
3,014,509 |
317 |
|
|
|
- |
- |
- |
- |
- |
- |
- |
|
|
|
50,669,461 |
59.52 |
31,764,694 |
100 |
15,830,264 |
4,243,150 189,666 |
1094 |
|
|
|
139,689 |
-13.22 |
160,962 |
-13.14 |
185,308 |
108,910 15,032 |
28.26 |
|
|
|
127,404 |
231 |
38,460 |
314 |
9,286 |
9,397 - |
274 |
|
|
|
57,151 |
-18.28 |
69,931 |
61.53 |
43,294 |
-80.89 |
- - |
|
|
|
63,569,959 |
68.65 |
37,693,325 |
111 |
17,826,199 |
5,309,231 |
1097 |
|
|
|
Long term debts
and liabilities |
|||||||
|
|
Long term group
loans |
- |
- |
- |
- |
- |
- |
- - |
|
|
Other long term
loans |
5,239,615 |
-4.34 |
5,477,276 |
-0.64 |
5,512,550 |
369 |
- - |
|
|
Deffered taxes |
- |
- |
- |
- |
- |
35,141 24,730 |
- |
|
|
Provisions for
Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,241 0 |
-100 |
|
|
Other long term
liabilities |
0 |
- |
0 |
- |
0 |
133,599 |
-100 |
|
|
5,239,615 |
-4.34 |
5,477,276 |
-0.64 |
5,512,550 |
570,351 |
818 |
|
|
|
shareholders
equity |
|||||||
|
|
20,000,000 |
0 |
20,000,000 |
0 |
20,000,000 |
916,311 |
2082 |
|
|
|
- |
- |
- |
- |
- |
109,362 |
- |
|
|
|
4,672,866 |
4.36 |
4,477,692 |
4.46 |
4,286,401 |
699,078 |
568 |
|
|
|
323,000 |
0 |
323,000 |
0 |
323,000 |
934,864 |
-65.45 |
|
|
|
Total shareholders
equity |
24,995,866 |
0.79 |
24,800,692 |
0.78 |
24,609,401 |
1,643,187 |
1421 |
|
|
26,673,403 |
-0.89 |
26,911,703 |
0.94 |
26,660,445 |
1,874,818 |
1322 |
|
|
|
293,861 |
0.31 |
292,956 |
64.24 |
178,367 |
27,969 |
950 |
|
|
|
24,995,866 |
0.79 |
24,800,692 |
0.78 |
24,609,401 |
1,639,845 |
1424 |
|
|
|
||||||||
ratio analysis
|
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average |
% |
|
|
Trading
performance |
|||||||
|
|
Profit Before Tax |
0.17 |
0 |
0.17 |
21.43 |
0.14 |
-27,00 |
0.63 |
|
|
1.09 |
11.22 |
0.98 |
84.91 |
0.53 |
31,00 |
-96.48 |
|
|
|
0.35 |
-18.60 |
0.43 |
30.30 |
0.33 |
-214,00 |
0.16 |
|
|
|
1.32 |
10.92 |
1.19 |
83.08 |
0.65 |
21,00 |
-93.71 |
|
|
|
7.18 |
10.46 |
6.50 |
53.30 |
4.24 |
45,00 |
-99 |
|
|
|
17.72 |
34.45 |
13.18 |
-2.95 |
13.58 |
115,00 |
-84.59 |
|
|
|
105.05 |
23.08 |
85.35 |
-7.79 |
92.56 |
138,00 |
-23.88 |
|
|
|
24.18 |
102 |
11.93 |
108 |
5.73 |
126,00 |
-80.81 |
|
|
|
short term
stability |
|||||||
|
|
1.42 |
-16.96 |
1.71 |
-31.60 |
2.50 |
7,00 |
-84.22 |
|
|
|
0.89 |
-19.09 |
1.10 |
-32.52 |
1.63 |
4,00 |
-77.75 |
|
|
|
2.54 |
67.11 |
1.52 |
111 |
0.72 |
9,00 |
-71.78 |
|
|
|
Liquidity ratio
reprocessed |
- |
- |
- |
- |
- |
- |
|
|
|
long term
stability |
|||||||
|
|
224.23 |
48.68 |
150.81 |
72.39 |
87.48 |
371,00 |
-39.56 |
|
|
|
26.65 |
-26.97 |
36.49 |
-28.91 |
51.33 |
-3.343,00 |
0.80 |
|
|
|
2.75 |
58.05 |
1.74 |
83.16 |
0.95 |
11,00 |
-75.00 |
|
FOREIGN EXCHANGE RATES
Na
ADDITIONAL INFORMATION
Commentary
|
The business was
established over 30 years ago. |
|
|
The business has 1
employees. |
|
|
The business has
been at the address for over 3 years. |
|
|
There has been no
significant change in the business's credit rating. |
|
|
There has been no
significant change in the business's credit limit. |
|
|
A 38% growth in Total
Assets occurred during the latest trading period. |
|
|
The business saw
an increase in their Cash Balance of 188% during the latest trading period. |
|
Trends
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractor details
Check Article 30 Bis
|
Registered
contractor number |
- |
||
|
Contractor
description |
- |
||
|
Date struck off
register |
|
|
|
NOTES & COMMENTS
Na
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.61.35 |
|
|
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.