|
Report No. : |
302057 |
|
Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIAMINE BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 226, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.03.2004 |
|
|
|
|
Com. Reg. No.: |
863820434 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones. |
|
|
|
|
No. of Employee : |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 863820434
Company name DIANINE BVBA
Address HOVENIERSSTRAAT
30-BUS 226, 2018 ANTWERPEN
Number of staff 2
Date of establishment 02/03/2004
Telephone number 032060530
Fax number 032263854
The business was established over 10 years ago.
The business has 1 employees.
Number of employees in the latest trading period increased 100% on the
previous trading period.
The business has been at the address for over 7 years.
Operating Result in the latest trading period decreased 24% on the
previous trading period.
Net Worth increased by 149% during the latest trading period.
Pre-tax profits decreased by 105% compared to the previous trading
period.
The business saw an increase in their Cash Balance of 198% during the
latest trading period.
Turnover in the latest trading period increased 63% on the previous
trading period.
|
ACCOUNTS |
|
|
|
|
|
DATE
OF LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2013 |
22,748,632 |
-4,084 |
624,554 |
913,028 |
|
31/12/2012 |
13,920,710 |
80,833 |
250,116 |
338,579 |
|
31/12/2011 |
13,894,725 |
30,407 |
228,624 |
504,496 |
|
|
|
|
|
|
|
ACCOUNTS |
|
|
|
|
|
DATE
OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
9,115,291 |
2 |
438,600 |
87,509 |
|
31/12/2012 |
7,735,130 |
1 |
102,600 |
45,741 |
|
31/12/2011 |
4,701,651 |
0 |
102,600 |
47,272 |
|
Past
payments |
|
Payment
expectation days |
101.92 |
|
Industry
average payment |
124.14 |
Industry average
day sales |
140.29 |
|
expectation
days |
|
outstanding |
|
|
Day
sales outstanding |
110.28 |
|
|
|
BANKRUPTCY DETAILS |
||||
|
Court action type PROTESTED
BILLS |
No |
|
|
|
|
Bill amount |
- |
|
|
|
|
NSSO DETAILS |
||||
|
Date of summons |
- |
|
|
|
|
Business
number |
863820434 |
Company
name |
DIANINE BVBA |
|
Fax number |
032263854 |
Date
founded |
02/03/2004 |
|
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.0863.820.434 Check VAT number |
|
Belgian
Bullettin of Acts |
moniteur belge |
|
|
JIC Code 218
Description Additional national
joint committee for the employees
Category
JIC Code 323
Description Joint committee for
the doorkeepers off appartments
Category
Significant Events
Event Date 12/05/2011
Event Description
Event Details Op de
kapitaalverhoging wordt volledig ingeschreven in geld door : Gandi Dharmesh,
Gandhi Ratnesh en Gandhi Ramesh.
|
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 |
704,874 |
-6.52 |
754,003 |
287 |
194,381 |
5.05 |
185,043 |
9.71 |
168,658 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed assets |
704,424 |
-6.52 |
753,553 |
288 |
193,931 |
5.06 |
184,593 |
9.74 |
168,208 |
|
Land & building |
644,009 |
-6.98 |
692,322 |
496 |
116,117 |
-3.24 |
120,010 |
-0.44 |
120,544 |
|
Plant & machinery |
15,768 |
200 |
5,247 |
76.80 |
2,968 |
-37.20 |
4,725 |
-39.38 |
7,795 |
|
Furniture & Vehicles |
44,647 |
-20.25 |
55,984 |
-25.20 |
74,846 |
25.04 |
59,857 |
50.13 |
39,869 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial fixed assets |
450 |
0 |
450 |
0 |
450 |
0 |
450 |
0 |
450 |
|
Total current assets |
8,410,417 |
20.47 |
6,981,127 |
54.89 |
4,507,270 |
29.55 |
3,479,076 |
65.83 |
2,098,014 |
|
Inventories |
1,444,618 |
11.92 |
1,290,707 |
38.14 |
934,342 |
547 |
144,322 |
64.24 |
87,874 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
1,444,618 |
11.92 |
1,290,707 |
38.14 |
934,342 |
- |
0 |
- |
0 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
-100 |
144,322 |
64.24 |
87,874 |
|
Trade debtors |
6,873,500 |
21.47 |
5,658,709 |
63.97 |
3,450,985 |
7.43 |
3,212,328 |
66.75 |
1,926,378 |
|
Other amounts receivable |
9,405 |
139 |
3,929 |
-47.00 |
7,413 |
-1.74 |
7,544 |
152 |
2,990 |
|
Cash |
82,895 |
198 |
27,783 |
-75.74 |
114,530 |
-0.31 |
114,882 |
42.23 |
80,772 |
|
Miscellaneous current assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Assets |
9,115,291 |
17.84 |
7,735,130 |
64.52 |
4,701,651 |
28.32 |
3,664,119 |
61.65 |
2,266,672 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
624,554 |
149 |
250,116 |
9.40 |
228,624 |
86.87 |
122,341 |
23.20 |
99,302 |
|
|
|
Issued share capital |
438,600 |
327 |
102,600 |
0 |
102,600 |
451 |
18,600 |
0 |
18,600 |
|
|
|
Share premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
Revaluation reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
Reserves |
185,954 |
26.06 |
147,516 |
17.05 |
126,024 |
21.48 |
103,741 |
28.55 |
80,702 |
|
|
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
|
Deffered taxes |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
Creditors |
8,490,737 |
13.44 |
7,485,014 |
67.34 |
4,473,027 |
26.29 |
3,541,778 |
63.41 |
2,167,370 |
|
|
|
Other long term loans |
993,347 |
17.91 |
842,466 |
79.15 |
470,253 |
185 |
164,751 |
8.79 |
151,436 |
|
|
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
|
Total long term debts |
993,347 |
17.91 |
842,466 |
79.15 |
470,253 |
185 |
164,751 |
8.79 |
151,436 |
|
|
|
Current portion of long term debt |
44,751 |
0.01 |
44,745 |
108 |
21,448 |
0.85 |
21,268 |
35.85 |
15,655 |
|
|
|
Financial debts |
1,096,303 |
2.74 |
1,067,067 |
844 |
113,004 |
- |
- |
- |
- |
|
|
|
Trade creditors |
6,310,084 |
29.10 |
4,887,853 |
52.48 |
3,205,613 |
24.06 |
2,583,990 |
88.30 |
1,372,277 |
|
|
|
Amounts Payable for Taxes, Remuneration
& Social Security |
31,357 |
30.39 |
24,049 |
108 |
11,514 |
-7.24 |
12,412 |
-6.46 |
13,269 |
|
|
|
Miscellaneous
current liabilities |
14,894 |
-97.59 |
618,834 |
-4.97 |
651,194 |
-14.24 |
759,356 |
23.53 |
614,732 |
||
|
Total current liabilities |
7,497,389 |
12.87 |
6,642,548 |
65.95 |
4,002,774 |
18.53 |
3,377,026 |
67.52 |
2,015,934 |
||
|
Total Liabilities |
9,115,291 |
17.84 |
7,735,130 |
64.52 |
4,701,651 |
28.32 |
3,664,119 |
61.65 |
2,266,672 |
||
|
Ratio
Analysis |
|
|
|
|
|
|
|
|
|
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit Before Tax |
-0.02 |
-103 |
0.58 |
163 |
0.22 |
- |
- |
- |
- |
|
Return on capital employed |
-0.25 |
-103 |
7.40 |
70.11 |
4.35 |
-63.60 |
11.95 |
42.43 |
8.39 |
|
Return on total assets employed |
-0.04 |
-103 |
1.05 |
61.54 |
0.65 |
-30.85 |
0.94 |
1.08 |
0.93 |
|
Return on net assets employed |
-0.65 |
-102 |
32.32 |
143 |
13.30 |
-52.57 |
28.04 |
32.33 |
21.19 |
|
Sales / net working capital |
24.92 |
-39.40 |
41.12 |
49.31 |
27.54 |
- |
- |
- |
- |
|
Stock turnover ratio |
6.35 |
-31.50 |
9.27 |
37.95 |
6.72 |
- |
- |
- |
- |
|
Creditor days |
101.92 |
-21.61 |
130.01 |
54.59 |
84.10 |
- |
- |
- |
- |
|
Debtor days |
110.28 |
-25.67 |
148.37 |
63.67 |
90.65 |
- |
- |
- |
- |
|
Short Term
Stability |
|
|
|
|
|
|
|
|
|
|
Current ratio |
1.12 |
6.67 |
1.05 |
-7.08 |
1.13 |
9.71 |
1.03 |
-0.96 |
1.04 |
|
Liquidity ratio / acid ratio |
0.93 |
8.14 |
0.86 |
-3.37 |
0.89 |
-10.10 |
0.99 |
-1.00 |
1.00 |
|
Current debt ratio |
12.00 |
-54.82 |
26.56 |
51.68 |
17.51 |
-36.56 |
27.60 |
35.96 |
20.30 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cashflow |
87,509 |
91.31 |
45,741 |
-3.24 |
47,272 |
9.64 |
43,114 |
29.37 |
33,327 |
|
Net worth |
624,554 |
149 |
250,116 |
9.40 |
228,624 |
86.87 |
122,341 |
23.20 |
99,302 |
|
Long
Term Stability |
|
|
|
|
|
|
|
|
|
|
Gearing |
341.75 |
-56.26 |
781.35 |
195 |
264.50 |
73.96 |
152.05 |
-9.64 |
168.27 |
|
Equity in percentage |
6.85 |
112 |
3.23 |
-33.54 |
4.86 |
45.51 |
3.34 |
-23.74 |
4.38 |
|
Total debt ratio |
13.59 |
-54.59 |
29.93 |
52.94 |
19.57 |
-32.40 |
28.95 |
32.62 |
21.83 |
|
Working capital |
913,028 |
169 |
338,579 |
-32.89 |
504,496 |
394 |
102,050 |
24.33 |
82,080 |
|
Profit
& loss |
|
|
|
|
|
|
|
|
|
|
Operating Income |
22,821,868 |
63.68 |
13,942,762 |
0.21 |
13,913,244 |
- |
- |
- |
- |
|
Turnover |
22,748,632 |
63.42 |
13,920,710 |
0.19 |
13,894,725 |
- |
- |
- |
- |
|
Total operating expenses |
22,597,722 |
64.68 |
13,722,090 |
-1.37 |
13,912,040 |
- |
- |
- |
- |
|
Gross Operating Margin |
- |
- |
- |
- |
- |
- |
146,882 |
34.08 |
109,550 |
|
Operating Charges |
22,670,957 |
64.95 |
13,744,142 |
-1.34 |
13,930,559 |
- |
- |
- |
- |
|
Employee costs |
77,163 |
127 |
33,897 |
139 |
14,130 |
-28.13 |
19,662 |
-4.32 |
20,549 |
|
Wages and salary |
62,242 |
126 |
27,468 |
141 |
11,351 |
-29.00 |
15,987 |
-12.60 |
18,293 |
|
Employee pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social security contributions |
13,023 |
117 |
5,999 |
219 |
1,877 |
-39.33 |
3,094 |
73.70 |
1,781 |
|
Other employee costs |
1,898 |
341 |
430 |
-52.38 |
902 |
55.47 |
580 |
22.02 |
476 |
|
Director remuneration |
55,200 |
0 |
55,200 |
-5.05 |
58,138 |
- |
- |
- |
- |
|
Amortization and depreciation |
49,071 |
102 |
24,249 |
-2.96 |
24,989 |
24.48 |
20,075 |
12.69 |
17,814 |
|
Operating result |
150,911 |
-24.02 |
198,620 |
1147 |
-17,315 |
-117 |
100,919 |
50.60 |
67,009 |
|
Total financial income |
888 |
- |
- |
- |
95,556 |
3526 |
2,635 |
597 |
378 |
|
Total financial expenses |
155,882 |
32.34 |
117,787 |
146 |
47,834 |
-30.92 |
69,247 |
49.43 |
46,341 |
|
Results on ordinary operations before taxation |
-4,084 |
-105 |
80,833 |
165 |
30,407 |
-11.37 |
34,307 |
63.01 |
21,046 |
|
Extraordinary Income |
97,174 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary Charges |
37,397 |
10.28 |
33,910 |
- |
- |
- |
987 |
- |
- |
|
Extraordinary items |
59,776 |
176 |
-33,910 |
- |
0 |
0 |
-987 |
- |
0 |
|
Results for the Year Before Taxation |
55,693 |
18.69 |
46,923 |
54.32 |
30,407 |
-8.75 |
33,320 |
58.32 |
21,046 |
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
17,254 |
-32.15 |
25,431 |
213 |
8,124 |
-20.98 |
10,281 |
85.81 |
5,533 |
|
Results on ordinary operations after taxation |
-21,338 |
-138 |
55,402 |
148 |
22,282 |
-7.26 |
24,026 |
54.88 |
15,513 |
|
Net result |
38,438 |
78.85 |
21,492 |
-3.55 |
22,282 |
-3.28 |
23,039 |
48.52 |
15,513 |
|
Profit (Loss) for the Year to be
appropriated |
38,438 |
78.85 |
21,492 |
-3.55 |
22,282 |
-3.28 |
23,039 |
48.52 |
15,513 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social
Balance Sheet Details |
|
|
Social
Balance Sheet |
Total |
|
During
the reporting year |
|
|
ended 31-12-2013 |
|
|
Full-time
Employees |
2 |
|
Part-time
Employees |
1 |
|
Total
Fte Employees |
2 |
|
Number
of hours worked |
|
|
Full-time
Employees |
2,747 |
|
Part-time
Employees |
1,208 |
|
Total |
3,955 |
|
Personnel
Charges |
|
|
Full-time Employees |
53,597 |
|
Part-time
Employees |
23,566 |
|
Total |
77,163 |
|
Benefits
In Addition To Wages |
- |
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
1 |
|
Actual
working hours |
1,521 |
|
Personnel
Charges |
33,897 |
|
Benefits
In Addition To Wages |
- |
|
Type
of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
Unlimited
Duration Contracts |
1 |
2 |
2 |
Gender and Education Level
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy
education |
1 |
- |
1 |
|
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy
education |
- |
2 |
1 |
|
Working
Category |
Full-Time |
Part-Time |
Total
Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
1 |
2 |
2 |
|
|
|
|
|
|
New
staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
|
New
Starters |
1 |
2 |
2 |
|
Leavers |
1 |
- |
1 |
|
Activity code |
46761 |
|
Activity description |
Wholesale of diamonds and
other precious stones |
Payment INFORMATION
|
|
|
Payment
Expectations Payment expectations days 101.92 Day sales outstanding 110.28 |
|
|
|
|
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesale of diamonds and
other precious stones |
|
Industry
average payment expectation days |
124.14 |
|
Industry average
day sales outstanding |
140.29 |
|
Payment
Expectations |
|
|
Company
result |
101.92 |
|
Lower |
122.25 |
|
Median |
74.61 |
|
Upper |
45.81 |
|
Day
Sales Outstanding |
|
|
Company
result |
110.28 |
|
Lower |
102.27 |
|
Median |
54.08 |
|
Upper |
24.07 |
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
Individual
Shareholders
SHAREHOLDER NAME
|
Forename |
Dharmesh |
Middle name |
- |
|
Surname |
Gandhi |
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
25/05/2011(estimated) |
End date |
- |
|
Percentage
owned |
- |
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
Belgiëlei |
House number |
7 |
|
Minor town |
- |
Postal town |
Antwerpen |
|
Post code |
2018 |
Country |
Belgium |
|
|
|
|
|
|
SHAREHOLDER
NAME |
|
|
|
|
Forename |
Ratnesh |
Middle name |
- |
|
Surname |
Gandhi |
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
25/05/2011(estimated) |
End date |
- |
|
Percentage
owned |
- |
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
Belgiëlei |
House number |
7 |
|
Minor town |
- |
Postal town |
Antwerpen |
|
Post code |
2018 |
Country |
Belgium |
|
|
|
|
|
|
SHAREHOLDER
NAME |
|
|
|
|
Forename |
Ramesh |
Middle name |
- |
|
Surname |
Gandhi |
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
25/05/2011(estimated) |
End date |
- |
|
Percentage
owned |
- |
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
Belgiëlei |
House number |
7 |
|
Minor town |
- |
Postal town |
Antwerpen |
|
Post code |
2018 |
Country |
Belgium |
Companies that match this address
No Companies Match this address
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
CURRENT DIRECTOR DETAILS
|
Name |
DHARMESH RAMESH GANDHI |
|
Position |
Principal Manager |
|
Start Date |
01/04/2010 |
|
Date
of birth |
02/02/1981 |
|
Street |
7 BELGIËLEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
RATNESH RAMESH GANDHI |
|
Position |
Principal Manager |
|
Start Date |
11/08/2010 |
|
Date
of birth |
17/01/1982 |
|
Street |
7 BELGIËLEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Position |
Non Statutory Partner |
|
Start Date |
02/03/2004 |
|
Date
of birth |
17/01/1982 |
|
Street |
7 BELGIËLEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
FORMER
DIRECTOR DETAILS |
|
|
Name |
JAN LEEMANS |
|
Position |
Principal Manager |
|
Start Date |
11/08/2010 |
|
End Date |
31/12/2011 |
|
Country |
United Arab Emirates |
|
|
|
|
Position |
Non Statutory Partner |
|
Start Date |
02/03/2004 |
|
End Date |
31/05/2010 |
|
Country |
United Arab Emirates |
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.63.39 |
|
|
1 |
Rs.96.85 |
|
Euro |
1 |
Rs.75.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.