MIRA
INFORM REPORT
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Report Date : |
29.11.2014 |
IDENTIFICATION DETAILS
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Name : |
DIAM.ORO DI ASHISH JAIN |
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Registered Office : |
Via Del Castagnone, 7, 15048 - Valenza ( |
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Country : |
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Date of Incorporation : |
13.07.2006 |
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Legal Form : |
Sole proprietorship
Concern |
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Line of Business : |
· Wholesaler of clocks, watches and jewellery Retail
sale of watches and jewellery in specialised stores |
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No of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Italy |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
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 higher. 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 133% of GDP in 2013, but investor
concerns about Italy and the broader euro-zone crisis eased in 2013, bringing
down Italy's borrowing costs on sovereign government debt from euro-era. The
government still faces pressure from investors and European partners to sustain
its efforts to address Italy's long-standing structural impediments to growth,
such as labor market inefficiencies and widespread tax evasion. In 2013
economic growth and labor market conditions deteriorated, with growth at -1.8%
and unemployment rising to 12.4%, with youth unemployment around 40%. Italy's
GDP is now 8% below its 2007 pre-crisis level.
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Source : CIA |
Concern name & address
Diam.oro Di Ashish Jain
Via Del Castagnone, 7
15048 - Valenza (AL) -IT-
Summary
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Fiscal Code |
: |
JNASSH79L20Z222M |
|
Legal Form |
: |
Sole proprietorship |
|
start of Activities |
: |
13/07/2006 |
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Turnover Range |
: |
375.000/500.000 |
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Number of Employees |
: |
1 |
Activity
· Wholesaler of clocks, watches and jewellery
Retail
sale of watches and jewellery in specialised stores
Legal Data
Legal Form : Sole proprietorship
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Fiscal Code : JNASSH79L20Z222M |
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Chamber of Commerce no. : 229405 of
Alessandria since 31/07/2006 |
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Firms' Register : AL-2006-22303 of Alessandria
since 01/08/2006 |
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V.A.T. Code : 02133840062 |
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Start of Activities |
: 13/07/2006 |
Members
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Jain |
Ashish |
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Born in Shivpuri |
( ) |
on 20/07/1979 |
- Fiscal Code : JNASSH79L20Z222M |
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Residence: |
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Pisani Dossi Carlo Alberto |
, 33 |
- 20134 |
Milano |
(MI) |
- IT - |
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Position |
Since |
Shares Amount |
% Ownership |
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Proprietor |
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No Prejudicial
events are reported |
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No Protests
registered |
Companies connected to members *
*checkings have been performed on a national
scale.
In this module the companies in which
members hold/held positions are listed.
The Members of the subject firm are not
reported to be Members in other companies.
Direct Participations
The Concern 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:
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- |
Legal and
operative seat |
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Del Castagnone |
, 7 |
- 15048 |
- Valenza |
(AL) |
- IT - |
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Trading Style: DIAM.ORO |
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PHONE |
: 0131950201 |
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PHONE |
: 0131927942 |
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Employees |
: 1 |
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Assistants |
: 1 |
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Fittings and Equipment for a value of
8.000 |
Eur |
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Stocks for a value of 65.000 |
Eur |
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Data Base Prejudicial Events
Search
Search performed on a National Scale
|
|
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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 subject has been operating for many
years. At present it does
not show financial difficulties.
Concern's liquidity is adequate to allow a
regular economical and
financial management.
Current financial attitude is normal and
allows regular settlements.
Debts stand on normal position. Modest use
of supplier and bank
credit.
Correct trade relations. No meaningful remark
is expressed by
usual suppliers.
Financial Data
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Estimated
Financial Data |
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Item Type |
Value |
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Sales |
400.000 |
Market / Territory Data
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Population living in the province |
: |
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Population living in the region |
: |
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Number of families in the region |
: |
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429.080Monthly family expenses average in the region
(in Eur..) :
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- per food products |
: |
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- per non food products |
: |
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- per energy consume |
: |
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Sector Data
The values are calculated on a base of 2.211
significant companies.
The companies cash their credits on an
average of 26 dd.
The average duration of suppliers debts is
about 153 dd.
The sector's profitability is on an average
of 2,62%.
The labour cost affects the turnover in the
measure of 10,29%.
Goods are held in stock in a range of 159
dd.
The difference between the sales volume and
the resources used to realize it is about 1,10.
The employees costs represent the 10,25% 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
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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.
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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.
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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.
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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.
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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.
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Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-concern 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.
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Excerpts from Times of India dated 30th October 2010 is as
under –
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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.
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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.61.97 |
|
UK Pound |
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
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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 |
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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 |
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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 |
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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.