|
Report No. : |
307424 |
|
Report Date : |
11.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHINTAMANI BVBA |
|
|
|
|
Registered Office : |
Schupstraat 9-/11, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
28.04.2005 |
|
|
|
|
Com. Reg. No.: |
873540329 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of Diamonds and other Precious Stones. |
|
|
|
|
No. of Employees : |
5 |
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 : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Belgium |
A2 |
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 |
873540329 |
|
Branche
Unit Number |
2147106975 |
|
Company
Name |
CHINTAMANI BVBA |
|
Address |
SCHUPSTRAAT 9-/11 |
|
|
2018 ANTWERPEN |
|
Number
of staff |
5 |
|
Date
of establishment |
28/04/2005 |
|
Telephone
number |
032334474 |
|
Fax
number |
032334474 |
|
Company Name |
Company
Number |
|
CHINTAMANI DMCC |
- |
The business was established over 9 years ago.
The business has 5 employees.
The business is part of a group.
The business has been at the address for over 11 months.
Operating Result in the latest trading period increased 76% on the
previous trading period.
A 33% growth in Total Assets occurred during the latest trading period.
Pre-tax profits increased by 41% compared to the previous trading
period.
The business saw an increase in their Cash Balance of 1312% during the
latest trading period.
Turnover in the latest trading period increased 24% on the previous
trading period.
|
DATE
OF LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2013 |
72,438,738 |
90,264 |
3,059,861 |
8,002,736 |
|
31/12/2012 |
58,290,722 |
63,681 |
2,977,889 |
8,135,470 |
|
31/12/2011 |
69,084,436 |
69,902 |
2,905,678 |
8,216,458 |
|
ACCOUNTS |
|
|
|
|
|
DATE
OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
24,248,073 |
5 |
2,597,892 |
94,873 |
|
31/12/2012 |
18,132,980 |
5 |
2,597,892 |
85,644 |
|
31/12/2011 |
17,564,159 |
5 |
2,597,892 |
83,948 |
|
Past
payments |
|
Payment
expectation days |
34.08 |
|
Industry
average payment expectation
days |
125.17 |
Industry
average day sales outstanding |
186.86 |
|
Day
sales outstanding |
97.01 |
|
|
BANKRUPTCY DETAILS
Court action type No
PROTESTED BILLS
Bill amount -
NSSO DETAILS
Date of summons -
|
Business
number |
873540329 |
Company
name |
CHINTAMANI BVBA |
|
Fax number |
032334474 |
Date
founded |
28/04/2005 |
|
Company
status |
active |
Company type |
Private Limited Company |
|
|
|
|
(BL/LX) |
|
Currency |
Euro (€) |
Date
of latest accounts |
31/12/2013 |
|
Activity
code |
46761 |
Liable
for VAT |
yes |
|
Activity
description |
Wholesale of diamonds and other precious stones |
VAT Number |
BE.0873.540.329 Check VAT Number |
|
Belgian
Bullettin of Acts Publications |
Moniteur Belge |
|
|
CONTRACTOR DETAILS
|
Registered
contractor number |
- |
|
Contractor
description Date
struck off register |
- |
PERSONNEL (NSSO CLASSIFICATION)
|
Code |
- |
|
Description |
- |
|
JOINT
INDUSTRIAL COMMITTEE (JIC) |
|
|
JIC Code |
218 |
|
Description
category |
Additional national joint committee for
the employees |
|
|
|
|
JIC Code |
324 |
|
Description |
Joint committee for the industry
and the trade in diamant |
SIGNIFICANT
EVENTS
|
Event Date |
17/12/2014 |
|
Event
Description |
|
|
Event
Details |
De vennootschap van het racht van
de staat Dubai Chintamani DMCC schrijft in op 675 nieuwe aandelen. |
|
Assets |
|
|
|
|
|
|
|
|
|
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Total fixed assets |
41,232 |
-20.78 |
52,046 |
12.58 |
46,229 |
-24.40 |
61,146 |
-22.94 |
79,347 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed assets |
33,040 |
-24.66 |
43,854 |
14.69 |
38,237 |
-28.47 |
53,453 |
-30.81 |
77,260 |
|
Land & building |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Plant & machinery |
16,255 |
-26.95 |
22,250 |
84.23 |
12,077 |
-32.54 |
17,904 |
-9.91 |
19,874 |
|
Furniture & Vehicles |
16,785 |
-22.30 |
21,604 |
-17.41 |
26,159 |
-26.42 |
35,550 |
-38.05 |
57,386 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial fixed assets |
8,192 |
0 |
8,192 |
2.50 |
7,992 |
3.89 |
7,693 |
268 |
2,086 |
|
Total current assets |
24,206,841 |
33.88 |
18,080,934 |
3.21 |
17,517,930 |
-39.26 |
28,839,105 |
80.89 |
15,943,155 |
|
Inventories |
4,060,819 |
15.72 |
3,509,121 |
45.49 |
2,411,992 |
-72.41 |
8,743,558 |
1701 |
485,348 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
4,060,819 |
15.72 |
3,509,121 |
45.49 |
2,411,992 |
-72.41 |
8,743,558 |
1701 |
485,348 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade debtors |
19,252,573 |
33.38 |
14,434,256 |
3.39 |
13,961,108 |
-30.14 |
19,985,648 |
33.66 |
14,952,790 |
|
Other amounts receivable |
139,416 |
170 |
51,448 |
28.89 |
39,916 |
37.69 |
28,989 |
-88.37 |
249,227 |
|
Cash |
718,046 |
1312 |
50,853 |
-95.30 |
1,082,947 |
1272 |
78,902 |
-68.44 |
249,982 |
|
Miscellaneous current assets |
35,989 |
2.08 |
35,255 |
60.49 |
21,967 |
994 |
2,008 |
-65.43 |
5,808 |
|
Total Assets |
24,248,073 |
33.72 |
18,132,980 |
3.24 |
17,564,159 |
-39.22 |
28,900,251 |
80.37 |
16,022,502 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
3,059,861 |
2.75 |
2,977,889 |
2.49 |
2,905,678 |
2.19 |
2,843,486 |
67.44 |
1,698,253 |
|
Issued share capital |
2,597,892 |
0 |
2,597,892 |
0 |
2,597,892 |
0 |
2,597,892 |
71.07 |
1,518,600 |
|
Share premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Revaluation reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Reserves |
461,969 |
21.57 |
379,997 |
23.46 |
307,786 |
25.32 |
245,594 |
36.70 |
179,653 |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered taxes |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Creditors |
21,188,213 |
39.81 |
15,155,091 |
3.39 |
14,658,480 |
-43.74 |
26,056,766 |
81.91 |
14,324,250 |
|
Other long term loans |
4,984,108 |
-4.33 |
5,209,628 |
-2.75 |
5,357,008 |
35.52 |
3,952,889 |
-15.51 |
4,678,569 |
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
0 |
-1 |
|
Total long term debts |
4,984,108 |
-4.33 |
5,209,628 |
-2.75 |
5,357,008 |
35.52 |
3,952,889 |
-15.51 |
4,678,568 |
|
Current portion of long term debt |
- |
- |
- |
- |
- |
- |
11,070 |
-39.00 |
18,148 |
|
Financial debts |
9,436,215 |
60.57 |
5,876,774 |
-9.27 |
6,477,225 |
6.65 |
6,073,085 |
8.36 |
5,604,366 |
|
Trade creditors |
6,703,334 |
67.15 |
4,010,449 |
44.07 |
2,783,726 |
-82.57 |
15,970,643 |
300 |
3,983,779 |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
51,037 |
-6.92 |
54,832 |
42.92 |
38,365 |
-19.50 |
47,655 |
46.33 |
32,567 |
|
Miscellaneous current liabilities |
13,519 |
296 |
3,408 |
58.02 |
2,157 |
51.54 |
1,423 |
-79.13 |
6,821 |
|
Total current liabilities |
16,204,105 |
62.93 |
9,945,463 |
6.92 |
9,301,472 |
-57.92 |
22,103,877 |
129 |
9,645,681 |
|
Total Liabilities |
24,248,073 |
33.72 |
18,132,980 |
3.24 |
17,564,159 |
-39.22 |
28,900,251 |
80.37 |
16,022,502 |
|
Ratio Analysis |
|
|
|
|
|
|
|
|
|
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit Before Tax |
0.12 |
9.09 |
0.11 |
10.0 |
0.10 |
-16.67 |
0.12 |
-20.0 |
0.15 |
|
Return on capital employed |
1.12 |
43.59 |
0.78 |
-8.24 |
0.85 |
-28.57 |
1.19 |
6.25 |
1.12 |
|
Return on total assets employed |
0.37 |
5.71 |
0.35 |
-12.50 |
0.40 |
42.86 |
0.28 |
-36.36 |
0.44 |
|
Return on net assets employed |
2.95 |
37.85 |
2.14 |
-11.20 |
2.41 |
-15.44 |
2.85 |
-31.98 |
4.19 |
|
Sales / net working capital |
9.05 |
26.22 |
7.17 |
-14.74 |
8.41 |
-19.37 |
10.43 |
39.44 |
7.48 |
|
Stock turnover ratio |
5.61 |
-6.81 |
6.02 |
72.49 |
3.49 |
-71.97 |
12.45 |
1108 |
1.03 |
|
Creditor days |
34.08 |
34.86 |
25.27 |
70.51 |
14.82 |
-82.29 |
83.69 |
168 |
31.17 |
|
Debtor days |
97.01 |
7.34 |
90.38 |
22.53 |
73.76 |
-29.00 |
103.89 |
-10.32 |
115.84 |
|
SHORT
TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current ratio |
1.49 |
-18.13 |
1.82 |
-3.19 |
1.88 |
44.62 |
1.30 |
-21.21 |
1.65 |
|
Liquidity ratio / acid ratio |
1.24 |
-15.65 |
1.47 |
-9.26 |
1.62 |
78.02 |
0.91 |
-43.12 |
1.60 |
|
Current debt ratio |
5.30 |
58.68 |
3.34 |
4.38 |
3.20 |
-58.82 |
7.77 |
36.80 |
5.68 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cashflow |
94,873 |
10.78 |
85,644 |
2.02 |
83,948 |
-13.87 |
97,466 |
27.58 |
76,394 |
|
Net worth |
3,059,861 |
2.75 |
2,977,889 |
2.49 |
2,905,678 |
2.19 |
2,843,486 |
67.44 |
1,698,253 |
|
LONG TERM
STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
471.27 |
26.59 |
372.29 |
-8.59 |
407.28 |
15.38 |
352.98 |
-41.81 |
606.57 |
|
Equity in percentage |
12.62 |
-23.14 |
16.42 |
-0.73 |
16.54 |
68.09 |
9.84 |
-7.17 |
10.60 |
|
Total debt ratio |
6.92 |
35.95 |
5.09 |
0.99 |
5.04 |
-44.98 |
9.16 |
8.66 |
8.43 |
|
Working capital |
8,002,736 |
-1.63 |
8,135,470 |
-0.99 |
8,216,458 |
21.99 |
6,735,228 |
6.95 |
6,297,474 |
|
Profit & loss |
|
|
|
|
|
|
|
|
|
|
Operating Income |
72,470,064 |
24.26 |
58,320,605 |
-15.60 |
69,096,237 |
-1.60 |
70,219,349 |
49.04 |
47,113,182 |
|
Turnover |
72,438,738 |
24.27 |
58,290,722 |
-15.62 |
69,084,436 |
-1.62 |
70,218,568 |
49.04 |
47,113,182 |
|
Total operating expenses |
71,785,625 |
23.94 |
57,919,793 |
-15.50 |
68,545,241 |
-1.59 |
69,652,830 |
49.30 |
46,654,087 |
|
Gross Operating Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Charges |
71,816,950 |
23.93 |
57,949,676 |
-15.47 |
68,557,042 |
-1.57 |
69,653,611 |
49.30 |
46,654,087 |
|
Employee costs |
163,459 |
2.43 |
159,584 |
-0.41 |
160,246 |
67.00 |
95,955 |
52.41 |
62,957 |
|
Wages and salary |
132,673 |
2.70 |
129,189 |
-4.15 |
134,779 |
70.80 |
78,911 |
53.00 |
51,576 |
|
Employee pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social security contributions |
29,547 |
7.01 |
27,612 |
13.17 |
24,398 |
53.00 |
15,947 |
45.48 |
10,961 |
|
Other employee costs |
1,239 |
-55.48 |
2,782 |
160 |
1,069 |
-2.54 |
1,097 |
161 |
419 |
|
Director remuneration |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Amortization and depreciation |
12,901 |
-3.97 |
13,434 |
-38.25 |
21,755 |
-30.99 |
31,525 |
1.70 |
30,999 |
|
Operating result |
653,113 |
76.08 |
370,929 |
-31.21 |
539,195 |
-4.69 |
565,738 |
23.23 |
459,095 |
|
Total financial income |
5,902 |
217 |
1,857 |
-61.68 |
4,846 |
23.00 |
3,940 |
98390 |
4 |
|
Total financial expenses |
568,752 |
84.00 |
309,105 |
-34.81 |
474,139 |
-2.97 |
488,642 |
25.96 |
387,946 |
|
Results on ordinary operations before
taxation |
90,264 |
41.74 |
63,681 |
-8.90 |
69,902 |
-13.74 |
81,035 |
13.89 |
71,153 |
|
Extraordinary Income |
- |
- |
12,413 |
- |
- |
- |
- |
- |
- |
|
Extraordinary Charges |
0 |
- |
- |
- |
4,130 |
- |
- |
- |
- |
|
Extraordinary items |
0 |
-100 |
12,413 |
300 |
-4,130 |
- |
0 |
- |
0 |
|
Results for the Year Before Taxation |
90,264 |
18.62 |
76,093 |
15.69 |
65,772 |
-18.84 |
81,035 |
13.89 |
71,153 |
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
8,292 |
113 |
3,883 |
8.48 |
3,579 |
-76.29 |
15,094 |
-41.40 |
25,758 |
|
Results on ordinary operations after
taxation |
81,972 |
37.08 |
59,798 |
-9.84 |
66,322 |
0.58 |
65,941 |
45.26 |
45,395 |
|
Net result |
81,972 |
13.52 |
72,210 |
16.11 |
62,193 |
-5.68 |
65,941 |
45.26 |
45,395 |
|
Profit (Loss) for the Year
to be Appropriated |
81,972 |
13.52 |
72,210 |
16.11 |
62,193 |
-5.68 |
65,941 |
45.26 |
45,395 |
|
Dividend |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social
Balance Sheet Details |
|
|
|
|
Social
Balance Sheet |
|
Total |
|
|
During the reporting year ended 31-12-2013 |
|
|
|
|
Full-time Employees |
|
5 |
|
|
Part-time Employees |
|
- |
|
|
Total Fte Employees |
|
5 |
|
|
|
|
|
|
|
Number of hours worked |
|
|
|
|
Full-time Employees |
|
8,755 |
|
|
Part-time Employees |
|
- |
|
|
Total |
|
8,755 |
|
|
|
|
|
|
|
Personnel Charges |
|
|
|
|
Full-time Employees |
|
163,459 |
|
|
Part-time Employees |
|
- |
|
|
Total |
|
163,459 |
|
|
Benefits In Addition To Wages |
|
- |
|
|
|
|
|
|
|
During the previous reporting year |
|
|
|
|
Average number employees in Fte |
|
5 |
|
|
Actual working hours |
|
8,816 |
|
|
Personnel Charges |
|
159,584 |
|
|
Benefits In Addition To Wages |
|
- |
|
|
Type
of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
Unlimited Duration Contracts |
5 |
- |
5 |
|
Limited Duration Contracts |
- |
- |
- |
|
Contracts For Specific Work |
- |
- |
- |
|
Contracts Regarding Substitution |
- |
- |
- |
Gender and
Education Level
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
Primary
Education |
2 |
- |
2 |
|
Secondairy
Education |
1 |
- |
1 |
|
Higher
education (non university) |
- |
- |
- |
|
Higher education
(university) |
- |
- |
- |
|
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary
education |
1 |
- |
1 |
|
Secondairy
education |
1 |
- |
1 |
|
Higher
education (non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
Working
Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
3 |
- |
3 |
|
Blue
collar worker |
2 |
- |
2 |
|
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 |
- |
- |
- |
|
Activity
Code |
|
46761 |
|
Activity
Description |
|
Wholesale of diamonds and other
precious stones |
|
industry
Average Credit Rating |
|
64.48 |
|
Industry Average
Credit Limits |
|
140177.31 |
Payment
Information Summary
|
Total number of Invoices available |
6 |
|
Total number of Invoices paid
within or up to 30 days after
the due date |
4 |
|
Total number of Invoices paid more
than 30 days after the due date |
1 |
|
Total number of Invoices currently
outstanding where the due date has
not yet been reached |
1 |
|
Total number of Invoices currently
outstanding beyond the due date |
0 |
|
Suspension
of payments / moratorium history |
|
|
Amount |
- |
|
Details |
- |
|
Payment
expectations |
|
|
Payment expectation days |
34.08 |
|
Day sales outstanding |
97.01 |
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesale of diamonds and other
precious stones |
|
Industry
average payment expectation
days |
125.17 |
|
Industry
average day sales outstanding |
186.86 |
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
34.08 |
|
Lower |
121.21 |
|
Median |
74.93 |
|
Upper |
46.53 |
Day Sales Outstanding
|
Company
result |
97.01 |
|
Lower |
102.33 |
|
Median |
54.26 |
|
Upper |
24.38 |
|
Summary |
|
|
|
|
|
Group
- Number of Companies |
2 |
|
|
|
|
Linkages
- Number of Companies |
0 |
|
|
|
|
Number
of Countries |
0 |
|
|
|
Group Structure
|
Company name |
Number |
Latest |
|
- CHINTAMANI DMCC |
|
financials |
|
- CHINTAMANI BVBA |
8735403.29 |
31-12-2013 |
|
|
|
|
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
|
Summary |
|
|
|
|
|
Group
- Number of Companies |
2 |
|
|
|
|
Linkages
- Number of Companies |
0 |
|
|
|
|
Number
of Countries |
0 |
|
|
|
There is no data for this company
There is no data for this company
There is no data for this company
Current director details
|
Name |
CHINTAMANI DMCC |
|
Position |
Principal Manager |
|
Start Date |
05/08/2011 |
|
Street |
3 GROUD FLOOR |
|
Post code |
|
|
Country |
United Arab Emirates |
|
Name |
DUBAI METALS & COMMODITIES CENTRE |
|
Position |
Principal Manager |
|
Start Date |
01/04/2005 |
|
Street |
|
|
Post code |
|
|
Country |
|
Former director
details
|
Name |
MILAN MEHTA |
|
Position |
Legal Representative |
|
Start Date |
01/07/2011 |
|
End Date |
Unknown date |
|
Street |
44 FAZANTENLAAN ANTWERPEN |
|
Post code |
2610 |
|
Country |
Belgium |
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.61.96 |
|
|
1 |
Rs.94.41 |
|
Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.