MIRA
INFORM REPORT
|
Report Date : |
19.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
CLARK DIAMONDS LTD. |
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Formerly Known as: |
Clark Diamonds
(Birmingham) Ltd. |
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Registered Office : |
62 Tenby Street North, Birmingham, B1 3EG |
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Country : |
United Kingdom |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
06.09.1984 |
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Com. Reg. No.: |
01846352 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Suppliers of loose polished
diamonds to the manufacturing and retail trader. |
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No. of Employees |
15 (30.06.2013) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 Ł375 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 |
Company name & address
Clark Diamonds Ltd.
62 Tenby Street North
Birmingham, B1 3EG
United Kingdom
(Trading Address)
Tel:
0121 236 1724
Synthesis
Employees:
15
Company Type:
Private Independent
Quoted Status: Non-quoted Company
Incorporation Date: 06-Sep-1984
Auditor:
Baker Tilly Audit
Ltd.
Financials in: USD
(Millions)
Fiscal Year End: 30-Jun-2013
Reporting Currency: British
Pound Sterling
Annual Sales:
18.5 1
Net Income: 0.6
Total Assets: 8.6
Business
Description
Suppliers of loose polished
diamonds to the manufacturing and retail trader.
Industry
Industry Miscellaneous
Wholesale
ANZSIC 2006:
3739 - Other Goods Wholesaling Not Elsewhere Classified
ISIC Rev 4:
4690 - Non-specialized wholesale trade
NACE Rev 2:
4690 - Non-specialised wholesale trade
NAICS 2012:
423990 - Other Miscellaneous Durable Goods Merchant Wholesalers
UK SIC 2007:
4690 - Non-specialised wholesale trade
US SIC 1987:
5099 - Durable Goods, Not Elsewhere Classified
Key Executives
Name Title
Lynn Christina Richardson Secretary
Simon Ian Barrows Director
Michael James Barrows Director
Mark Coleman Barrows Director
David Kimberley Director
Financial Summary
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1 - Profit & Loss Item Exchange Rate: USD 1 =
GBP 0.6376709
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP
0.6557335
Corporate
Overview
Location
62 Tenby Street North
Birmingham, B1 3EG
West Midlands County
United Kingdom
Tel: 0121 236 1724
Sales GBP(mil): 11.8
Assets GBP(mil): 5.7
Employees: 15
Fiscal Year End: 30-Jun-2013
Industry: Miscellaneous Capital Goods
Registered Address:
62 Tenby Street North
Birmingham, B1 3EG
United Kingdom
Incorporation Date: 06-Sep-1984
Company Type: Private Independent
Quoted Status: Not Quoted
Previous Name: Clark Diamonds (Birmingham) Ltd.
Registered No.(UK): 01846352
Director: Mark Coleman Barrows
Industry Codes
ANZSIC 2006 Codes:
3739 - Other Goods Wholesaling Not Elsewhere
Classified
ISIC Rev 4 Codes:
4690 - Non-specialized wholesale trade
NACE Rev 2 Codes:
4690 - Non-specialised wholesale trade
NAICS 2012 Codes:
423990 - Other Miscellaneous Durable Goods
Merchant Wholesalers
US SIC 1987:
5099 - Durable Goods, Not Elsewhere
Classified
UK SIC 2007:
4690 - Non-specialised wholesale trade
Business Description
Suppliers of loose polished
diamonds to the manufacturing and retail trader.
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executive report
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Board
of Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Secretary |
Company Secretary |
`. |
Directors and
Shareholders Report
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Main Office Address: |
Tel: 0121
236 1724 |
Annual Return Date: 19
Jan 2014 |
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Individual Directors |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
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|
Current |
12 Apr 1984 |
62 Tenby Street North, Birmingham, |
01 Jul 2013 |
NA |
Current:1 |
||
|
Current |
24 Jun 1973 |
62 Tenby Street North, Birmingham, |
01 Jul 2013 |
NA |
Current:1 |
||
|
Current |
24 Apr 1982 |
493 Chester Road South, |
01 Jul 2013 |
NA |
Current:5 |
||
|
Current |
24 Mar 1954 |
Redhill House, Bromsgrove Road, |
19 Jan 1993 |
NA |
Current:1 |
||
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Previous |
18 May 1941 |
34 Sharrat Field, Four Oaks, |
19 Jan 1993 |
31 Mar 2004 |
Current:0 |
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Corporate Directors |
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There are no corporate directors for this company. |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
||
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Current |
NA |
33 Doveridge Road, Hall Green, |
01 Nov 2003 |
NA |
Current:4 |
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Previous |
24 Mar 1954 |
Redhill House, Bromsgrove Road, |
19 Jan 1993 |
01 Nov 2003 |
Current:1 |
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Corporate Secretaries |
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There are no corporate secretaries for this company. |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
|
Mark Coleman Barrows |
1200 A Ordinary GBP 1.00 |
A Ordinary |
1,200 |
1.00 |
1,200.00 |
40.00 |
|
Michael James Barrows |
900 B Ordinary GBP 1.00 |
B Ordinary |
900 |
1.00 |
900.00 |
30.00 |
|
Simon Alan Barrows |
900 B Ordinary GBP 1.00 |
B Ordinary |
900 |
1.00 |
900.00 |
30.00 |
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Corporate Shareholders |
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There are no corporate shareholders for this company. |
Annual Profit
& Loss
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
30-Jun-2013 |
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
|
|
Period
Length |
52
Weeks |
52
Weeks |
52
Weeks |
52
Weeks |
52
Weeks |
|
Filed
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange
Rate (Period Average) |
0.637671 |
0.631353 |
0.629106 |
0.633607 |
0.627423 |
|
Consolidated |
No |
No |
No |
No |
No |
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|
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|
Total Turnover |
18.5 |
17.7 |
15.5 |
14.6 |
- |
|
Cost of Sales |
15.2 |
15.2 |
12.4 |
12.0 |
- |
|
Gross Profit |
3.2 |
2.5 |
3.1 |
2.6 |
2.1 |
|
Depreciation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Expenses |
1.9 |
2.4 |
2.1 |
2.0 |
1.7 |
|
Operating Profit |
1.4 |
0.1 |
- |
0.6 |
0.4 |
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Paid |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
- |
0.0 |
0.0 |
|
Profit Before Taxes |
1.4 |
0.1 |
1.0 |
0.6 |
0.4 |
|
Tax Payable / Credit |
0.3 |
0.0 |
0.3 |
0.1 |
0.1 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
0.5 |
0.5 |
0.5 |
0.5 |
0.5 |
|
Profit After Taxes |
0.6 |
-0.4 |
0.3 |
0.0 |
-0.2 |
|
Minority Interests (Profit & Loss) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Audit Fees |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Number of Employees |
15 |
14 |
13 |
11 |
11 |
|
Wages |
1.2 |
1.4 |
1.3 |
1.3 |
1.1 |
|
Social Security Costs |
0.1 |
0.2 |
0.2 |
0.2 |
0.1 |
|
Other Pension Costs |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Employees Remuneration |
1.5 |
1.7 |
1.7 |
1.5 |
1.4 |
|
Directors Remuneration |
0.2 |
0.4 |
0.4 |
0.5 |
0.5 |
|
Highest Paid Director |
0.2 |
0.4 |
0.4 |
0.5 |
0.5 |
Annual Balance Sheet
Financials in: USD (mil)
|
30-Jun-2013 |
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
|
|
Filed
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange
Rate |
0.655734 |
0.64529 |
0.622878 |
0.668405 |
0.60722 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
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|
Land & Buildings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Tangible Fixed Assets |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Fixed Assets |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Stocks |
4.6 |
4.2 |
4.6 |
4.3 |
3.5 |
|
Work in Progress |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Stocks Work In Progress |
4.6 |
4.2 |
4.6 |
4.3 |
3.5 |
|
Trade Debtors |
3.5 |
3.0 |
2.6 |
2.5 |
2.6 |
|
Inter-Company Debtors |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Debtors |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Debtors |
3.6 |
3.1 |
2.7 |
2.5 |
2.6 |
|
Cash and Equivalents |
0.4 |
1.5 |
1.4 |
0.9 |
1.3 |
|
Other Current Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Assets |
8.6 |
8.8 |
8.7 |
7.7 |
7.4 |
|
Total Assets |
8.6 |
8.9 |
8.7 |
7.7 |
7.5 |
|
Trade Creditors |
2.2 |
3.1 |
2.1 |
1.8 |
1.6 |
|
Bank Overdraft |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inter-Company Creditors |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Current Liability) |
1.2 |
1.2 |
1.1 |
0.9 |
0.5 |
|
Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Finance Lease (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Short Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Current Liability) |
0.0 |
0.0 |
0.0 |
0.4 |
0.4 |
|
Social Security/VAT |
0.2 |
0.3 |
0.4 |
0.3 |
0.2 |
|
Corporation Tax |
0.3 |
0.0 |
0.3 |
0.1 |
0.1 |
|
Dividends (Current Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Current Liabilities |
3.9 |
4.6 |
3.9 |
3.5 |
2.9 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Long Term Liabilities |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
4.7 |
4.2 |
4.8 |
4.2 |
4.6 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
4.7 |
4.2 |
4.8 |
4.2 |
4.6 |
|
Net Worth |
4.7 |
4.2 |
4.8 |
4.2 |
4.6 |
Annual Cash Flows
Financials in: USD (mil)
|
30-Jun-2013 |
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
|
|
Period
Length |
52
Weeks |
52
Weeks |
52
Weeks |
52
Weeks |
52
Weeks |
|
Filed
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange
Rate (Period Average) |
0.637671 |
0.631353 |
0.629106 |
0.633607 |
0.627423 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Net Cash Flow From Operating Activities |
-0.5 |
0.9 |
1.1 |
0.3 |
0.6 |
|
Net Cash Flow from ROI and Servicing of Finance |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Taxation |
0.0 |
-0.3 |
-0.1 |
-0.1 |
-0.3 |
|
Capital Expenditures |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Acquisitions and Disposals |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Paid Up Equity |
-0.5 |
-0.5 |
-0.5 |
-0.5 |
-0.5 |
|
Management of Liquid Resources |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Cash Flow From Financing |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Increase in Cash |
-1.1 |
0.1 |
0.4 |
-0.3 |
-0.2 |
Annual Ratios
Financials in: USD (mil)
|
30-Jun-2013 |
30-Jun-2012 |
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
|
|
Period
Length |
52
Weeks |
52
Weeks |
52
Weeks |
52
Weeks |
52
Weeks |
|
Filed
Currency |
GBP |
GBP |
GBP |
GBP |
GBP |
|
Exchange
Rate |
0.655734 |
0.64529 |
0.622878 |
0.668405 |
0.60722 |
|
Consolidated |
No |
No |
No |
No |
No |
|
|
|
|
|
|
|
|
Current Ratio |
2.20 |
1.90 |
2.23 |
2.19 |
2.60 |
|
Liquidity Ratio |
1.02 |
0.99 |
1.05 |
0.97 |
1.37 |
|
Stock Turnover |
3.89 |
4.09 |
3.41 |
3.26 |
- |
|
Credit Period (Days) |
71.40 |
64.09 |
61.59 |
64.88 |
- |
|
Working Capital by Sales |
26.16% |
24.20% |
30.45% |
30.01% |
- |
|
Trade Credit by Debtors |
0.63 |
1.02 |
0.79 |
0.74 |
0.64 |
|
Return on Capital |
28.37% |
1.68% |
21.45% |
13.81% |
8.69% |
|
Return on Assets |
15.56% |
0.80% |
11.87% |
7.56% |
5.38% |
|
Profit Margin |
7.49% |
0.41% |
6.61% |
4.20% |
- |
|
Return on Shareholders Funds |
28.37% |
1.68% |
21.45% |
13.81% |
8.69% |
|
Borrowing Ratio |
24.98% |
27.42% |
22.61% |
20.19% |
11.83% |
|
Equity Gearing |
54.84% |
47.72% |
55.35% |
54.72% |
61.88% |
|
Interest Coverage |
- |
- |
- |
- |
4,902.06 |
|
Sales by Tangible Assets |
41,660.00 |
37,755.00 |
27,995.00 |
26,322.00 |
- |
|
Average Remuneration per Employee |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Profit per Employee |
0.1 |
0.0 |
0.1 |
0.1 |
0.0 |
|
Sales per Employee |
1.2 |
1.2 |
1.2 |
1.3 |
- |
|
Capital Employed per Employee |
0.3 |
0.3 |
0.4 |
0.4 |
0.4 |
|
Tangible Assets per Employee |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets per Employee |
0.6 |
0.6 |
0.7 |
0.7 |
0.7 |
|
Employee Remuneration by Sales |
8.03% |
9.62% |
10.75% |
10.57% |
- |
|
Creditor Days (Cost of Sales Based) |
54.93 |
76.26 |
60.39 |
58.22 |
- |
|
Creditor Days (Sales Based) |
45.31 |
65.66 |
48.35 |
47.76 |
- |
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.60.95 |
|
UK Pound |
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
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.