|
Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
M. RAJESH EBVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30 2018 Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
11.02.1994 |
|
|
|
|
Com. Reg. No.: |
452095224 |
|
|
|
|
Legal Form : |
One Person Private
Limited Company (BE) |
|
|
|
|
Line of Business : |
Wholesale of diamonds and
other precious stones |
|
|
|
|
No. of Employees |
2 |
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 |
|
Payment Behaviour : |
Slow but Correct |
|
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) |
|
Belgium |
A1 |
A2 |
|
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 2013 Belgian GDP grew by 0.1%, the
unemployment rate increased to 8.8% from 7.6% the previous year, and the
government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%.
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 |
Business number 452095224
Company name M. RAJESH EBVBA
Address HOVENIERSSTRAAT
30
2018 ANTWERPEN
Number of staff 2
Date of establishment 11/02/1994
Telephone number 032320122
Fax number 032327108
|
The business was
established over 20 years ago. |
|
|
The business has 2
employees. |
|
|
The business has been at
the address for over 4 years. |
|
|
The credit rating for
this business has increased from 60 to 69. |
|
|
The credit limit for this
business has increased from €890000 to €1000000. |
|
|
Pre-tax profits increased
by 35% compared to the previous trading period. |
|
|
The business saw a
decrease in their Cash Balance of 96% during the latest trading period. |
|
|
Turnover in the latest
trading period increased 27% on the previous trading period. |
|
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2012 |
90,473,961 |
710,807 |
5,092,564 |
5,430,662 |
|
31/12/2011 |
70,803,580 |
526,432 |
4,584,178 |
5,068,235 |
|
31/12/2010 |
46,993,748 |
158,888 |
1,437,059 |
3,604,418 |
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
19,988,715 |
2 |
4,217,250 |
541,559 |
|
31/12/2011 |
16,728,825 |
2 |
4,217,250 |
394,263 |
|
31/12/2010 |
11,914,830 |
1 |
1,200,000 |
143,750 |
Payment
expectations
|
|||
|
Past
payments |
|
Payment
expectation days |
56.46 |
|
Industry
average payment |
164.01 |
Industry
average day sales |
119.76 |
|
expectation
days |
|
outstanding |
|
|
Day sales outstanding |
60.75 |
||
|
Court data
summary |
|||
|
BANKRUPTCY
DETAILS |
|||
|
Court
action type |
no |
||
|
PROTESTED
BILLS |
|||
|
Bill
amount |
457422.37 |
||
|
NSSO
DETAILS |
|||
|
Date of
summons |
- |
||
|
Business
number |
452095224 |
Company
name |
M. RAJESH
EBVBA |
|
Fax number |
032327108 |
Date
founded |
11/02/1994 |
|
Company
status |
active |
Company
type |
One Person Private Limited 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.0452.095.224 |
|
Belgian
Bullettin of Acts Publications |
moniteur
belge |
|
|
|
Contractor
details |
|
|
Check Article 30 Bis |
|
Registered contractor number |
- |
|
|
|
Contractor
description |
- |
||
|
Date
struck off register |
|
||
|
Social
Balance Sheet |
Total |
|||
|
During the
reporting year ended 31-12-2012 |
|
|||
|
Full-time
Employees |
2 |
|||
|
Part-time
Employees |
- |
|||
|
Total Fte
Employees |
2 |
|||
|
|
|
|||
|
Number of
hours worked |
|
|||
|
Full-time
Employees |
3,557 |
|||
|
Part-time
Employees |
- |
|||
|
Total |
3,557 |
|||
|
|
|
|||
|
Personnel
Charges |
|
|||
|
Full-time
Employees |
109,070 |
|||
|
Part-time
Employees |
- |
|||
|
Total |
109,070 |
|||
|
Benefits
In Addition To Wages |
- |
|||
|
|
|
|||
|
During the
previous reporting year |
|
|||
|
Average
number employees in Fte |
2 |
|||
|
Actual
working hours |
2,964 |
|||
|
Personnel
Charges |
87,861 |
|||
|
Benefits
In Addition To Wages |
- |
|||
|
Type of
Contract |
Full-Time |
Part-Time |
Total Fte |
|
|
Unlimited Duration Contracts |
2 |
- |
2 |
|
|
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 |
2 |
- |
2 |
|
|
Higher education (non university) |
- |
- |
- |
|
|
Higher education (university) |
- |
- |
- |
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education |
- |
- |
- |
|
|
Secondairy
education |
- |
- |
- |
|
|
Higher education (non university) |
- |
- |
- |
|
|
Higher
education (university) |
- |
- |
- |
|
|
|
||||
|
Working
Category |
Full-Time |
Part-Time |
Total Fte |
|
|
Management |
- |
- |
- |
|
|
White
collar worker |
2 |
- |
2 |
|
|
Blue
collar worker |
- |
- |
- |
|
|
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 |
- |
- |
|
|
Personnel (NSSO
classification)
|
Code |
- |
|
Description |
- |
|
Joint
Industrial Committee (JIC) |
|
|
JIC Code |
218 |
|
Description |
Additional national joint committee for the employees |
|
category |
|
|
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
90,473,961 |
27.78 |
70,803,580 |
50.67 |
46,993,748 |
46,537,630 |
94.41 |
|
|
|
Total
operating expenses |
89,295,559 |
28.17 |
69,670,315 |
50.45 |
46,307,681 |
46,145,645 |
93.51 |
|
|
Operating
result |
1,178,401 |
3.98 |
1,133,265 |
65.18 |
686,067 |
147,590 |
698 |
|
|
Total
financial income |
2 |
93.65 |
1 |
79.00 |
6 |
97,743 |
-99 |
|
Total
financial expenses |
467,596 |
22.94 |
606,834 |
15.11 |
527,185 |
204,361 |
128 |
|
|
|
Results on
ordinary operations before taxation |
710,807 |
35.02 |
526,432 |
231 |
158,888 |
32,848 |
2063 |
|
|
Taxation |
202,421 |
22.26 |
165,563 |
332 |
38,311 |
20,918 |
867 |
|
|
Results on
ordinary operations after taxation |
508,386 |
40.88 |
360,869 |
199 |
120,577 |
18,016 |
2721 |
|
|
Extraordinary
items |
0 |
- |
0 |
0 |
-8,653 |
-4,395 |
0 |
|
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0 |
- |
- |
|
|
Net result |
508,386 |
40.88 |
360,869 |
222 |
111,924 |
13,640 |
3627 |
|
OTHER
INFORMATION |
||||||||
|
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
|
Director
remuneration |
- |
- |
- |
- |
- |
114,302 |
- |
|
|
Employee
costs |
109,070 |
24.14 |
87,861 |
88.02 |
46,729 |
125,948 |
13.40 |
|
|
Wages and salary |
82,984 |
28.73 |
64,465 |
75.07 |
36,823 |
105,678 |
21.47 |
|
|
Employee pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
|
Social security contributions |
18,491 |
21.29 |
15,246 |
82.08 |
8,373 |
26,585 |
30.45 |
|
|
Other employee costs |
7,595 |
-6.81 |
8,150 |
431 |
1,533 |
4,360 |
74.21 |
|
|
Amortization
and depreciation |
33,173 |
-0.66 |
33,394 |
4.93 |
31,826 |
17,895 |
85.38 |
|
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
1,553 |
-100 |
|
|
Tangible
fixed assets |
385,857 |
2.91 |
374,949 |
-7.75 |
406,443 |
185,189 |
108 |
|
|
Land & building |
313,819 |
-6.10 |
334,215 |
-5.75 |
354,612 |
362,988 |
13.55 |
|
|
Plant & machinery |
1,735 |
-6.88 |
1,863 |
44.59 |
3,362 |
22,664 |
92.35 |
|
|
Furniture & Vehicles |
70,303 |
80.87 |
38,870 |
19.80 |
48,469 |
17,327
5,364 |
305 |
|
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
142,153
32,369 |
- |
|
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
7,634 |
-100 |
|
|
Financial
fixed assets |
- |
- |
- |
- |
- |
307,703 |
- |
|
|
Total
fixed assets |
385,857 |
2.91 |
374,949 |
-7.75 |
406,443 |
396,856 |
-2.77 |
|
|
Inventories |
4,499,668 |
112 |
2,116,955 |
37.99 |
3,413,994 |
3,093,934 |
45.44 |
|
|
Raw materials & consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
|
Work in progress |
0 |
- |
0 |
- |
0 |
2,399 |
-100 |
|
|
Finished goods |
4,499,668 |
112 |
2,116,955 |
37.99 |
3,413,994 |
1,982,203 |
127 |
|
|
Other stocks |
0 |
- |
0 |
- |
0 |
571,885 |
-100 |
|
|
Trade
debtors |
15,057,999 |
12.48 |
13,387,727 |
66.61 |
8,035,354 |
4,167,122 |
261 |
|
|
Cash |
32,972 |
96.06 |
837,122 |
5933 |
13,874 |
226,208 |
85.42 |
|
|
other
amounts receivable |
5,594 |
0.80 |
5,550 |
84.70 |
36,274 |
185,906 |
96.99 |
|
|
Miscellaneous
current assets |
6,625 |
1.57 |
6,522 |
26.64 |
8,891 |
18,028 |
63.25 |
|
|
Total
current assets |
19,602,858 |
19.87 |
16,353,876 |
42.10 |
11,508,387 |
7,215,183 |
171 |
|
|
Total
Assets |
19,988,715 |
19.49 |
16,728,825 |
40.40 |
11,914,830 |
7,579,247 1,446,080 |
163 |
|
CURRENT
LIABILITIES |
||||||||
|
|
Trade
creditors |
13,812,387 |
48.92 |
9,274,733 |
19.82 |
7,740,386 |
3,040,360 |
354 |
|
|
Short term
group loans |
- |
- |
- |
- |
- |
- |
- |
|
|
Financial
debts |
116,328 |
93.44 |
1,772,389 |
14752 |
11,933 |
4,261,350
189,666 |
97.27 |
|
|
Current
portion of long term debt |
63,346 |
10.84 |
57,149 |
-6.15 |
60,896 |
110,204
15,373 |
42.52 |
|
|
Amounts Payable for Taxes,
Remuneration & Social Security |
178,743 |
15.74 |
154,432 |
268 |
41,860 |
9,709 - |
426 |
|
|
Miscellaneous
current liabilities |
1,393 |
94.83 |
26,939 |
44.90 |
48,894 |
-99 |
- - |
|
|
Total
current liabilities |
14,172,197 |
25.58 |
11,285,642 |
42.78 |
7,903,969 |
5,342,128 |
165 |
|
LONG TERM
DEBTS AND LIABILITIES |
||||||||
|
|
Long term
group loans |
- |
- |
- |
- |
- |
- |
- - |
|
|
Other long
term loans |
723,954 |
15.72 |
859,005 |
66.63 |
2,573,802 |
-34.20 |
- - |
|
|
Deffered
taxes |
- |
- |
- |
- |
- |
37,626
26,358 |
- |
|
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,184 0 |
-100 |
|
|
Other long
term liabilities |
0 |
- |
0 |
- |
0 |
128,672 |
-100 |
|
|
Total long
term debts |
723,954 |
15.72 |
859,005 |
66.63 |
2,573,802 |
559,214 |
29.46 |
|
SHAREHOLDERS
EQUITY |
||||||||
|
|
Issued
share capital |
4,217,250 |
0 |
4,217,250 |
251 |
1,200,000 |
943,974 |
346 |
|
|
Reserves |
875,314 |
138 |
366,928 |
54.78 |
237,059 |
690,619 |
26.74 |
|
|
Revaluation reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
|
Total shareholders equity |
5,092,564 |
11.09 |
4,584,178 |
218 |
1,437,059 |
1,664,274 |
205 |
|
|
Working capital |
5,430,662 |
7.15 |
5,068,235 |
40.61 |
3,604,418 |
1,873,055 |
189 |
|
|
Cashflow |
541,559 |
37.36 |
394,263 |
174 |
143,750 |
28,425 |
1805 |
|
|
Net worth |
5,092,564 |
11.09 |
4,584,178 |
218 |
1,437,059 |
1,661,040 |
206 |
|
|
|
|
|
|
|
|
back to top |
|
|
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
|
|
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
|
Profit Before
Tax |
0.79 |
6.76 |
0.74 |
117 |
0.34 |
-25,00 |
3.16 |
|
|
Return on
capital employed |
12.22 |
26.37 |
9.67 |
144 |
3.96 |
29,00 |
-57.86 |
|
|
Return on
total assets employed |
3.56 |
13.02 |
3.15 |
136 |
1.33 |
-201,00 |
1.77 |
|
|
Return on net
assets employed |
13.96 |
21.60 |
11.48 |
3.80 |
11.06 |
19,00 |
-26.53 |
|
|
Sales /
net working capital |
16.66 |
19.26 |
13.97 |
7.13 |
13.04 |
45,00 |
-99 |
|
|
Stock
turnover ratio |
4.97 |
66.22 |
2.99 |
-58.82 |
7.26 |
111,00 |
-95.52 |
|
|
Debtor
days |
60.75 |
-11.98 |
69.02 |
10.59 |
62.41 |
133,00 |
-54.32 |
|
|
Creditor
days |
56.46 |
16.20 |
48.59 |
-20.36 |
61.01 |
122,00 |
-53.72 |
|
SHORT TERM
STABILITY |
||||||||
|
|
Current
ratio |
1.38 |
-4.83 |
1.45 |
-0.68 |
1.46 |
7,00 |
-84.67 |
|
|
Liquidity
ratio / acid ratio |
1.07 |
-15.08 |
1.26 |
23.53 |
1.02 |
4,00 |
-73.25 |
|
|
Current
debt ratio |
2.78 |
13.01 |
2.46 |
-55.27 |
5.50 |
9,00 |
-69.11 |
|
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
|
LONG TERM STABILITY |
|||||||
|
|
Gearing |
17.74 |
-69.75 |
58.65 |
-68.15 |
184.17 |
360,00 |
-95.07 |
|
|
Equity in
percentage |
25.48 |
-7.01 |
27.40 |
127 |
12.06 |
-3.211,00 |
0.79 |
|
|
Total debt
ratio |
2.93 |
10.57 |
2.65 |
-63.65 |
7.29 |
10,00 |
-70.70 |
|
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 |
457.422,37 |
|
Details |
- |
|
Payment
expectations |
|
|
Payment
expectation days |
56.46 |
|
Day sales
outstanding |
60.75 |
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesale of diamonds and other precious stones |
|
Industry
average payment expectation days |
164.01 |
|
Industry average day sales
outstanding |
119.76 |
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
56.46 |
|
Lower |
134.34 |
|
Median |
84.60 |
|
Upper |
45.33 |
|
Day sales
outstanding |
|
|
Company
result |
60.75 |
|
Lower |
112.48 |
|
Median |
58.56 |
|
Upper |
28.09 |
Summary
|
Group -
Number of Companies |
0 |
|
Linkages -
Number of Companies |
0 |
|
Number of
Countries |
0 |
Group Structure
No group structure
for this company
Minority
Shareholders
No minority
shareholders found
Minority Interests
No minority
interests found
Summary
|
Group - Number
of Companies |
0 |
|
Linkages -
Number of Companies |
0 |
|
Number of
Countries |
0 |
|
Drawee
name |
M. RAJESH BVBA |
|
Address |
HOVENIERSSTRAAT 30/231, ANTWERPEN, 2018 |
|
Bill
amount |
457.422,37 |
|
Bill
currency |
EUR |
|
Maturity
of bill |
65 |
|
Name of
drawer |
ANTWERP DIAMOND BANK NV |
|
City of
drawer |
ANTWERPEN |
|
View more |
|
|
NSSO
details |
|
|
Business
number |
452095224 |
|
Name of
defendant |
- |
|
Legal form
of defendant |
- |
|
Date of
summons |
- |
|
Labour
court |
- |
|
Bankruptcy
details |
|
There is no
bankruptcy data against this company
Protested bills
Drawee name M. RAJESH BVBA
Address HOVENIERSSTRAAT 30/231,
ANTWERPEN, 2018
Bill amount 457.422,37
Bill currency EUR
Maturity of bill 65
Name of drawer ANTWERP DIAMOND BANK NV
City of drawer ANTWERPEN
NSSO details
Business number 452095224
Name of defendant -
Legal form of
defendant -
Date of summons -
Labour court –
There is no bankruptcy
data against this company
Bankruptcy Data
|
Legal
event type |
Protested Bill |
||||
|
Legal
event sub type |
Draft |
||||
|
Event date |
07/11/2008 |
Secondary
event date |
|
||
|
Court
number |
101141108101006 |
Registry
body identfier |
|
||
|
Court type |
Commercial Court |
Court name |
Antwerpen |
||
|
3rd party
name |
M. RAJESH |
3rd party
type |
Debtor |
||
|
3rd party
address |
HOVENIERSSTRAAT 30 ANTWERPEN
2018 |
||||
|
|
|||||
|
Legal
event type |
Protested Bill |
||||
|
Legal
event sub type |
Draft |
||||
|
Event date |
07/11/2008 |
Secondary
event date |
|
||
|
Court
number |
101141108101006 |
Registry
body identfier |
|
||
|
Court type |
Commercial Court |
Court name |
Antwerpen |
||
|
3rd party
name |
ANTWERP DIAMOND BANK |
3rd party
type |
Creditor |
||
|
3rd party
address |
PELIKAANSTRAAT 54 ANTWERPEN 2018 |
||||
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.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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.