MIRA INFORM REPORT

Report No. :	307402
Report Date :	11.02.2015

IDENTIFICATION DETAILS

Name :	SAVANI SNEHAL

Registered Office :	Quinten Matsijslei 31-Bus 17 2018 Antwerpen

Country :	Belgium

Date of Incorporation :	17.04.2009

Legal Form :	Proprietorship

Line of Business :	Wholesale of diamonds and other precious stones

No. of Employee :	1

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Unknown

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

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

Company summary

Business number	811207832
Branche Unit Number	2177504302
Company name	SAVANI SNEHAL
Address	QUINTEN MATSIJSLEI 31-BUS 17
	2018 ANTWERPEN
Date of establishment	17/04/2009
Telephone number	037708866
Fax number

Commentary

The business was established over 5 years ago.

The business has 1 employees.

The business has been at the address for over 3 years.

There has been no significant change in the business's credit rating.

There has been no significant change in the business's credit limit.

Accounts

No key Financials Registered

Trends

Profitability	-
Liquidity	-
Net worth	-

Payment expectations

Past payments		Payment expectation days	-
Industry average payment	125.17	Industry average day sales	186.86
expectation days		outstanding

Court data summary

BANKRUPTCY DETAILS

Court action type no

PROTESTED BILLS

Bill amount -

NSSO DETAILS

Date of summons -

Company accounts

Annual accounts

There is no data for this company

SOCIAL BALANCE SHEET DETAILS

INDUSTRY COMPARISON

Activity code 46761

Activity description Wholesale of diamonds and other precious stones

industry average credit

rating 64.48

Industry average credit limit 140177.31

Payment Information

SUSPENSION OF PAYMENTS / MORATORIUM HISTORY

Amount -

Details –

PAYMENT EXPECTATIONS

Payment expectation days -

Day sales outstanding -

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 -

Lower 121.21

Median 74.93

Upper 46.53

Day sales outstanding

Company result -

Lower 102.33

Median 54.26

Upper 24.38

Shareholder Details

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

COMPANIES THAT MATCH THIS ADDRESS

No Companies Match this address

Linked Companies

SUMMARY

Group - Number of Companies 0

Linkages - Number of Companies 0

Number of Countries 0

Summons

There is no data for this company

Protested Bills

There is no data for this company

Bankruptcy and other legal events

there is no data for this company

Director details

Current director details

Name SNEHAL SAVANI

Position Proprietor

Start Date 01/05/2009

Street

Post code

Country

Former director details

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 8^th Century B.C. India, in fact, remained undisputed leader till 18^th 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 30^th 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
UK Pound	1	Rs.94.41
Euro	1	Rs.70.20

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	ANK

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

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MIRA INFORM REPORT

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