|
Report Date : |
30.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Formerly Known as: |
SOLOMADE LIMITED |
|
|
|
|
Registered Office : |
7 Merseyway, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
21.06.1979 |
|
|
|
|
Com. Reg. No.: |
01432090 |
|
|
|
|
Legal Form : |
Private limited with
Share Capital |
|
|
|
|
Line of Business : |
Retail Jewellers |
|
|
|
|
No of Employees : |
828 (
31.03.2013) |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED KINGDOM - ECONOMIC OVERVIEW
The UK, a leading trading power
and financial center, is the second largest economy in Europe after Germany.
Over the past two decades, the government has greatly reduced public ownership
and contained the growth of social welfare programs. Agriculture is intensive,
highly mechanized, and efficient by European standards, producing about 60% of
food needs with less than 2% of the labor force. The UK has large coal, natural
gas, and oil resources, but its oil and natural gas reserves are declining and
the UK became a net importer of energy in 2005. Services, particularly banking,
insurance, and business services, account by far for the largest proportion of
GDP while industry continues to decline in importance. After emerging from
recession in 1992, Britain's economy enjoyed the longest period of expansion on
record during which time growth outpaced most of Western Europe. In 2008,
however, the global financial crisis hit the economy particularly hard, due to
the importance of its financial sector. Sharply declining home prices, high
consumer debt, and the global economic slowdown compounded Britain's economic
problems, pushing the economy into recession in the latter half of 2008 and
prompting the then BROWN (Labour) government to implement a number of measures
to stimulate the economy and stabilize the financial markets; these include
nationalizing parts of the banking system, temporarily cutting taxes,
suspending public sector borrowing rules, and moving forward public spending on
capital projects. Facing burgeoning public deficits and debt levels, in 2010
the CAMERON-led coalition government (between Conservatives and Liberal
Democrats) initiated a five-year austerity program, which aimed to lower
London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In
November 2011, Chancellor of the Exchequer George OSBORNE announced additional
austerity measures through 2017 because of slower-than-expected economic growth
and the impact of the euro-zone debt crisis. The CAMERON government raised the value
added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation
tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset
purchase program of up to £375 billion (approximately $605 billion) as of
December 2012. During times of economic crisis, the BoE coordinates interest
rate moves with the European Central Bank, but Britain remains outside the
European Economic and Monetary Union (EMU). In 2012, weak consumer spending and
subdued business investment weighed on the economy. GDP fell 0.1%, and the
budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued
to increase.
|
Source
: CIA |
|
WARREN JAMES (JEWELLERS) LIMITED |
Telephone |
+44 014 8443 5006 |
|
7 MERSEYWAY |
Fax |
- |
|
STOCKPORT |
Website |
|
|
SK1 1PN |
||
|
United Kingdom |
|
Operating
Address Unit No. 12, Gregory Way, Reddish,
Stockport, Manchester S K 5 7ST, England, United Kingdom |
|
|
|
|
Company Number:
Foundation: |
01432090 21/06/1979 |
Status: |
Active - Accounts Filed |
No exact match CCJs are recorded
against the company.
Net Worth increased by 14.8% during the latest trading period.
A 4.3% growth in Total Assets occurred
during the latest
trading period.
Pre-tax profits increased by 7.7% compared to the
previous trading period.
The audit report contains
no adverse comments.
Sales in the latest trading period decreased 0.7% on the previous trading period. The company saw a decrease in their Cash Balance of 41% during the latest trading period.
There has been no significant change in the company’s
credit rating. No recent changes in directorship are recorded. The company
is part of a group. The company was established over 34 years ago.
Legal form
Private limited with Share Capital
Foundation
21/06/1979
Company No.
01432090
Previous Names
31/12/1979 SOLOMADE LIMITED
Shareholders
|
Name |
Currency |
Number of Shares |
Share type |
Nominal value |
|
WJH LTD |
GBP |
100,000 |
ORDINARY |
1 |
|
|
|
|
|
|
|
Total Share Capital |
|
|
|
GBP 100,000 |
Directors
|
Name |
Address: |
Date of Birth |
Nationality |
Appointment date |
|
Ms Ann Jones |
7 Merseyway, Stockport, Cheshire SK1 1PN |
02/02/1954 |
British |
14/11/1991 |
|
Mr John Coulter |
7 Merseyway, Stockport, Cheshire SK1 1PN |
21/11/1951 |
British |
14/11/1991 |
Company Secretary
|
Name |
Address: |
Appointment date |
|
Ms Ann Jones |
7 Merseyway, Stockport, Cheshire SK1 1PN |
14/11/1991 |
Other Known Addresses
1 Abingdon Street,
Blackpool, Lancashire FY1 1DG
1 Clarence Walk,
Gloucester, Gloucestershire GL1 1HD
1 Denmark Centre, South
Shields, Tyne and Wear NE33 2LR
10 Mercian Mall,
Ladysmith Centre, Ashton-under-lyne, Lancashire OL6 7JH
10 Standish
Gallery, The Galleries, Wigan, Lancashire WN1 1AT
10 The Gallery,
Meadowhall Centre, Sheffield, South Yorkshire S9 1ER
10 Whitewalls,
Swansea, West Glamorgan SA1 3AA
102-104 The
Horsefair, Bristol, Avon BS1 3JX
10A Cameron Walk,
Metrocentre, Gateshead, Tyne and Wear NE11 9YR
11 Grapes Lane,
Lanes Shopping Centre, Carlisle, Cumbria CA3 8NH
11 South Walk,
Cwmbran, Gwent NP44 1PU
11B Aberafan
Centre, Port Talbot, West Glamorgan SA13 1PB
12 Bradford Mall,
Saddlers Centre, Walsall, West Midlands WS1 1YT
12-14 Horsemarket
Street, Warrington, Cheshire WA1 1XL
13 St. Marys
Arcade, St. Helens, Merseyside WA10 1AR
134northend, Croydon,
Surrey CR0 1UE
14 New Market
Walk, St. Tydfil Square Shopping Centre, Merthyr Tydfil, Mid Glamorgan CF47 8EL
147 High Street,
Bromley, Kent BR1 1JD
15 Westgate Mall,
Kirkgate Centre, Bradford, West Yorkshire BD1 1QR
159 Whitgift
Centre, Croydon, Surrey CR0 1UT
16 Crown Walk,
Milton Keynes, Buckinghamshire MK9 3AH
16 Pack Horse
Walk, Huddersfield, West Yorkshire HD1 2RT
16 South Mall,
Frenchgate Centre, Doncaster, South Yorkshire DN1 1TT
16thepalatine,
Newstrandshoppingcentre, Bootle, Merseyside L20 4SW
17 Albert Road,
Widnes, Cheshire WA8 6JA
17 Broad Marsh
Centre, Nottingham, Nottinghamshire NG1 7LE
17 Stephenson Way,
Stockton-on-tees, Cleveland TS18 1AN
174 Arndale
Centre, Manchester, Lancashire M4 2HU
18 Charter Place,
Watford, Hertfordshire WD17 2RS
186 High Street,
Southend-on-sea, Essex SS2 5SG
19A St. Johns
Centre, Leeds, West Yorkshire LS2 8LQ
2 Tower Ramparts
Centre, Tavern Street, Ipswich, Suffolk IP1 3BB
20 Middle
Pavement, Chesterfield, Derbyshire S40 1PA
21 The Galleries,
Washington Centre, Washington, Tyne and Wear NE38 7SA
22 St. James
Centre, Edinburgh, Midlothian EH1 3SR
22 The Idlewells,
Sutton-in-ashfield, Nottinghamshire NG17 1BN
23 Friargate Walk,
St. Georges Shopping Centre, Preston, Lancashire PR1 2NQ
24 Southgate,
Halifax, West Yorkshire HX1 1DL
24 The Bridges,
Sunderland, Tyne and Wear SR1 3LB
24 The Pentagon,
Chatham, Kent ME4 4HP
25 Powis Street,
London, London SE18 6HZ
25 Queen Street,
Darlington, County Durham DL3 6SH
25cookelane, Airedalecentre,
Keighley, West Yorkshire BD21 3PF
26whitecrossway,
Eldonsquare, Newcastle-upon-tyne, Tyne and Wear NE1 7XA
28 Borough
Pavement, Grange Precinct, Birkenhead, Merseyside CH41 2XX
28 Briar Hill Way,
Salford, Lancashire M6 5FD
295 High Street, Lincoln,
Lincolnshire LN2 1AH
3 Minden Parade, Bury, Lancashire BL9 0QG
305 Dukes Walk,
Chequers Centre, Maidstone, Kent ME15 6AS
32 Castle Walk,
Newcastle, Staffordshire ST5 1AN
32 College Street,
Rotherham, South Yorkshire S65 1AG
32 The Priory
Centre, Worksop, Nottinghamshire S80 1JR
32-34trinitystreetarcade,
Leeds., Leeds, West Yorkshire LS1 6QN
35 All Saints
Walk, The Ridings Centre, Wakefield, West Yorkshire WF1 1US
36 Bradshawgate,
Leigh, Lancashire WN7 4LA
37 The Parade,
Swindon, Wiltshire SN1 1BB
38 Wulfrun Way,
Wolverhampton, West Midlands WV1 3HG
39 Kings Mall,
King Street, London, London W6 0QB
3B The Vicarage
Field Shopping Cent, Ripple Road, Barking, Essex IG11 8DG
3eastgatecentre,
Basildon, Essex SS14 1AE
4 Dunkerque Mall,
Hill Street Shopping Centre, Middlesbrough, Cleveland TS1 1TA
4 East Mall, Upper
Mall Level, Crystal Peaks, Sheffield, South Yorkshire S20 7PQ
4 Queensgate
Centre, Peterborough, Cambridgeshire PE1 1NH
4 Southgate,
Scunthorpe, South Humberside DN15 6SU
4 The Forum
Shopping Centre, Northgate Street, Chester, Cheshire CH1 2BY
4-6 Mill Street,
Macclesfield, Cheshire SK11 6LY
44 Cheapside,
Barnsley, South Yorkshire S70 1RU
44townwall,
Stdavid’scentre, Cardiff, South Glamorgan CF10 2DQ
49 Castle Mall,
Norwich, Norfolk NR1 3DD
49 King Edward
Street, Hull, North Humberside HU1 3RW
5 Copecastle
Square, Derby, Derbyshire DE1 2NQ
5 Flottergate
Mall, Grimsby, South Humberside DN31 1QX 5-
7 Parliament Row,
Stoke-on-trent, Staffordshire ST1 1PW 52
Mercer Walk,
Ellesmere Port, Merseyside CH65 0AP
53 Four Seasons
Centre, Mansfield, Nottinghamshire NG18 1SX
55 St. Stephens
Street, Norwich, Norfolk NR1 3QR
57 Southwater,
Town Centre, Telford, Shropshire TF3 4DE
59 Houghton
Street, St. Johns Precinct, Liverpool, Merseyside L1 1LP
6 Bull Street,
Birmingham, West Midlands B4 7LB
6 The Forum,
Market Hall Street, Cannock, Staffordshire WS11 1EB
60B Queensway,
Stevenage, Hertfordshire SG1 1EE
65 Rochdale
Exchange Shopping Centr, Newgate, Rochdale, Lancashire OL16 1EA
67broadstreetmall,
Reading, Berkshire RG1 7QE
7 Charles Mall,
Haymarket Centre, Leicester, Leicestershire LE1 3YE
7 Merseyway,
Stockport, Cheshire SK1 1PN
71 Taff Street,
Pontypridd, Mid Glamorgan CF37 4SU
74 Kings Square,
Sandwell Centre, West Bromwich, West Midlands B70 7NW
8 Guildhall
Shopping Centre, Exeter, Devon EX4 3HP
80 High Street,
Solihull, West Midlands B91 3TA
81 Lord Street,
Liverpool, Merseyside L2 6PG
85themoor,
Rotherham, South Yorkshire S1 4PG
9 Crompton Place,
Bolton, Lancashire BL1 1EA
9 Market Way,
Blackburn, Lancashire BB1 7JF
9 Shelton Square,
Coventry, West Midlands CV1 1DG
94 Thurrock
Lakeside Shopping Centr, West Thurrock, Grays, Essex RM20 2ZG
97 High Street,
Sutton, Surrey SM1 1JF
97 Middleton
Grange Shopping Centre, Hartlepool, Cleveland TS24 7RF
97A Cornwall Street, Plymouth, Devon PL1 1NX
Chandosmall, 28
Queensmere, Slough, Berkshire SL1 1DB
Charterwalkshoppingcentre,
60 The Mall, Burnley, Lancashire BB11 1BA
Coopersquare, 12
Swan Walk, Burton-on-trent, Staffordshire DE14 1DD
Kingsway Centre Town
Centre, Newport, Gwent NP20 1ED
The Pavillion
Centre, 12 Market Square, Uxbridge, Middlesex UB8 1LH
Thearndalecentre,
12 The Mall, Luton, Bedfordshire LU1 2TE
Thegrosvenorcentre,
33 Princes Walk, Northampton, Northamptonshire NN1 2EL
Therhiwcentre, 11
The Rhiw, Bridgend, Mid Glamorgan CF31 3BL
Town Centre, 5
Copecastle Square, Derby, Derbyshire DE1 2NQ
Unit 16,
Kingfisher Walk, Kingfisher Shopping Centre, Redditch, Worcestershire B97 4EY
Unit 25,
Woodgreenshoppingcity, London N22 6YA
Unit 3, Blackburnlane,
Carltonshoppingcentere, Castleford, West Yorkshire WF10 1AD
Unit 3, The
Mercury Mall, Mercury Gardens, Romford, Essex RM1 3EE
Unit 36springwalk,
Cascadecentre, Portsmouth, Hampshire PO1 4RP
Unit 44,
85sovereignarcade, Kinswaycentre, Newport, Gwent NP9 1EP
Unit 5, 14 Queen
Street, Wrexham, Clwyd LL11 1AP
Unit 5, Lewisham
Centre, London, London SE13 7EP
Unit 5, Marlands
Shopping Centre, Civic Centre Road, Southampton, Hampshire SO14 7SJ
Unit 6, St. Enoch
Centre, 55 St. Enoch Square, Glasgow, Lanarkshire G1 4BW
Unit 68, Edgbaston
Road Digbeth, The Pallasades, Birmingham, West Midlands B2 4XJ
Unit L31, Overgate
Centre, Dundee, Angus DD1 1UF
Watkinson Gardens Waterthorpe, 4 East Mall, Upper Mall Level, Crystal
Peaks, Sheffield, South Yorkshire S20 7PQ
|
Name |
Status |
Country |
|
Ultimate parent |
|||
|
5401658 |
WJH LIMITED |
Non Trading |
United Kingdom |
Main activity
Retail Jewellers
Turnover and Employees
|
Date of Appointment |
Turnover |
Employees |
|
31/03/2011 |
GBP 51,214,173 |
761 |
|
31/03/2012 |
GBP 59,039,848 |
795 |
|
31/03/2013 |
GBP 58,606,373 |
828 |
Banks
Bank Name
CO-OPERATIVE BANK PLC
Auditor
Auditor name
RSM TENON AUDIT LIMITED
Company history
|
Date |
Action |
|
11/02/2009 |
New Accounts Filed |
|
18/01/2010 |
Annual Returns |
|
02/02/2010 |
New Accounts Filed |
|
02/02/2010 |
New Accounts Filed |
|
11/12/2010 |
Annual Returns |
|
05/01/2011 |
New Accounts Filed |
|
17/12/2011 |
Annual Returns |
|
27/12/2011 |
New Accounts Filed |
|
05/12/2012 |
Annual Returns |
|
03/01/2013 |
New Accounts Filed |
|
23/12/2013 |
New Accounts Filed |
|
03/01/2014 |
Annual Returns |
|
Charge created |
08/07/1987 |
|
Charge registered |
15/07/1987 |
|
Status |
SATISFIED |
|
Entitled person |
BARCLAYS BANK PLC |
|
Secured amount |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
|
Mortgage detail |
FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL
PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED
CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY |
|
Charge created |
10/11/1993 |
|
Charge registered |
16/11/1993 |
|
Status |
SATISFIED |
|
Entitled person |
THE CO-OPERATIVE BANK PLC |
|
Secured amount |
ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY
ACCOUNT WHATSOEVER |
|
Mortgage detail |
FIXED AND
FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND
FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED
PLANT AND MACHINERY |
(CCJs)
There are no County Court Judgments listed against this company
Profit & Loss
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
|
Turnover |
58,606,373 |
59,039,848 |
51,214,173 |
43,613,327 |
|
|
Export |
0 |
0 |
0 |
0 |
|
|
Cost of Sales |
37,195,227 |
39,145,355 |
36,368,193 |
29,891,761 |
|
|
Gross Profit |
21,411,146 |
19,894,493 |
14,845,980 |
13,721,566 |
|
|
Wages And Salaries |
10,620,830 |
9,875,199 |
9,161,369 |
8,387,581 |
|
|
Directors Emoluments |
323,974 |
269,719 |
269,262 |
265,919 |
|
|
Operating Profit |
16,937,995 |
15,638,719 |
11,835,065 |
11,694,607 |
|
|
Depreciation |
331,096 |
206,485 |
185,812 |
142,916 |
|
|
Audit Fees |
14,500 |
14,500 |
14,500 |
14,500 |
|
|
Interests Payments |
2,120 |
2,823 |
3,429 |
2,024 |
|
|
Pre Tax Profit |
17,109,396 |
15,887,174 |
12,093,855 |
11,922,679 |
|
|
Taxation |
-4,180,487 |
-4,189,231 |
-3,472,031 |
-3,287,789 |
|
|
Profit After Tax |
12,928,909 |
11,697,943 |
8,621,824 |
8,634,890 |
|
|
Dividends Payable |
0 |
0 |
0 |
30,000,000 |
|
|
Retained Profit |
12,928,909 |
11,697,943 |
8,621,824 |
-21,365,110 |
|
Balance Sheet
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Tangible Assets |
18,147,007 |
14,726,036 |
7,393,445 |
249,725 |
|
Intangible Assets |
0 |
0 |
0 |
0 |
|
Total Fixed Assets |
18,147,007 |
14,726,036 |
7,393,445 |
249,725 |
|
Stock |
10,890,190 |
10,189,772 |
8,611,787 |
7,443,817 |
|
Trade Debtors |
0 |
0 |
0 |
0 |
|
Cash |
13,839,064 |
23,437,283 |
43,299,694 |
38,448,567 |
|
Other Debtors |
70,337,113 |
60,174,193 |
37,135,952 |
51,793,680 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current Assets |
95,066,367 |
93,801,248 |
89,047,433 |
97,686,064 |
|
Trade Creditors |
284,175 |
450,795 |
541,596 |
148,026 |
|
Bank Loans and Overdraft |
0 |
0 |
0 |
0 |
|
Other Short
Term Finance |
10,420,130 |
17,122,561 |
17,981,701 |
27,981,701 |
|
Miscellaneous Current Liabilities |
2,508,849 |
3,882,617 |
2,544,213 |
3,054,518 |
|
Total Current Liabilities |
13,213,154 |
21,455,973 |
21,067,510 |
31,184,245 |
|
Bank Loans and Overdrafts LTL |
0 |
0 |
0 |
0 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
0 |
0 |
0 |
0 |
Capital & Reserves
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Called Up Share
Capital |
100,000 |
100,000 |
100,000 |
100,000 |
|
P and L Account Reserve |
99,900,220 |
86,971,311 |
75,273,368 |
66,651,544 |
|
Revaluation Reserve |
0 |
0 |
0 |
0 |
|
Sundry Reserves |
0 |
0 |
0 |
0 |
|
Shareholders Funds |
100,000,220 |
87,071,311 |
75,373,368 |
66,751,544 |
Other Financial Items
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Net Worth |
100,000,220 |
87,071,311 |
75,373,368 |
66,751,544 |
|
Working Capital |
81,853,213 |
72,345,275 |
67,979,923 |
66,501,819 |
|
Total Assets |
113,213,374 |
108,527,284 |
96,440,878 |
97,935,789 |
|
Total Liabilities |
13,213,154 |
21,455,973 |
21,067,510 |
31,184,245 |
|
Net Assets |
100,000,220 |
87,071,311 |
75,373,368 |
66,751,544 |
Cash Flow
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Net Cash Flow from
Operations |
0 |
0 |
0 |
0 |
|
Net Cash Flow before Financing |
0 |
0 |
0 |
0 |
|
Net Cash Flow from
Financing |
0 |
0 |
0 |
0 |
|
Increase in Cash |
-9,598,219 |
-19,862,411 |
4,851,127 |
22,050,187 |
Miscellaneous
|
|
52 GBP Group: No |
31/03/2012 52 GBP Group: No |
31/03/2011 52 GBP Group: No |
31/03/2010 52 GBP Group: No |
|
Capital Employed |
100,000,220 |
87,071,311 |
75,373,368 |
66,751,544 |
Financial Ratios
|
NAME |
31.03.2013 |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Pre Tax Profit
Margin |
29.19 % |
26.91 % |
23.61 % |
27.34 % |
|
Current Ration |
7.19 |
4.37 |
4.23 |
3.13 |
|
Sales or Net Working
Capital |
0.72 |
0.82 |
0.75 |
0.66 |
|
Gearing |
0.00 % |
0.00 % |
0.00 % |
0.00 % |
|
Equity |
88.33 % |
80.23 % |
78.15 % |
68.16 % |
|
Creditor Days |
1.76 |
2.77 |
3.84 |
1.23 |
|
Debtor Days |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liquidity or Acid test |
6.37 |
3.89 |
3.81 |
2.89 |
|
Return on Capital
Employed |
17.10 % |
18.24 % |
16.04 % |
17.86 % |
|
Return on Total Assets Employed |
15.11 % |
14.63 % |
12.54 % |
12.17 % |
|
Current Debt Ratio |
0.13 % |
0.24 % |
0.27 % |
0.46 % |
|
Total Debt Ratio |
0.13 % |
0.24 % |
0.27 % |
0.46 % |
|
Stock Turnover Ratio |
18.58 % |
17.25 % |
16.81 % |
17.06 % |
|
Return on Net
Assets Employed |
17.10 % |
18.24 % |
16.04 % |
17.86 % |
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. 62.20 |
|
|
1 |
Rs. 103.12 |
|
Euro |
1 |
Rs. 84.96 |
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.