|
Report No. : |
302257 |
|
Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
JEWELEX ANTWERP NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 191, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.03.1988 |
|
|
|
|
Com. Reg. No.: |
433849425 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
|
|
|
|
No. of Employees : |
3 |
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 : |
No Complaints |
|
|
|
|
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 |
|
|
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 433849425
Branche Unit Number 2038714920
Company name JEWELEX ANTWERP NV
Address HOVENIERSSTRAAT
30-BUS 191
2018 ANTWERPEN
Number of staff 3
Date of establishment 22/03/1988
Telephone number 034011919
Fax number 034011920
The business was established over 26 years ago.
The business has 1 employees.
The business has been at the address for over 23 years.
The business saw a decrease in their Cash Balance of 94% during the
latest trading period.
Turnover in the latest trading period increased 24% on the previous
trading period.
Accounts
DATE OF LATEST TURNOVER PROFIT BEFORE NET WORTH WORKING
CAPITAL
ACCOUNTS TAX
31/12/2013 107,050,067 480,725 9,518,949 13,031,853
31/12/2012 86,082,722 451,742 9,569,207 9,461,292
31/12/2011 141,225,725
916,995 12,164,580 11,815,503
DATE OF LATEST BALANCE TOTAL NUMBER CAPITAL CASHFLOW
ACCOUNTS OF
EMPLOYEES
31/12/2013 35,910,168 3 6,888,450 395,148
31/12/2012 31,184,959 3 7,200,050 380,339
31/12/2011 48,917,821 0 9,500,000 703,715
Past payments
Payment expectation days 52.29
Industry average payment
expectation days 124.14
Industry average day sales
Outstanding 140.29
Day sales outstanding 93.88
BANKRUPTCY DETAILS
Court action type No
PROTESTED BILLS
Bill amount -
NSSO DETAILS
Date of summons -
|
Business
number |
433849425 |
Company name |
JEWELEX
ANTWERP NV |
|
|
Fax number |
034011920 |
Date founded |
22/03/1988 |
|
|
Company status |
active |
Company type |
Public
Limited Liability Company (BE) |
|
|
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.0433.849.425 Check
VAT number |
|
|
Belgian Bullettin of Acts
Publications |
|
|
|
JOINT INDUSTRIAL COMMITTEE (JIC)
Significant Events
Event Date 18/07/2012
Event Description
Event Details Rechtzetting akte
dd. 05-06-2012: met ingang van 30/06/2012 wordt de heer Shah Jitendra benoemd
als gedelegeerd bestuurder, de benoeming van de heer Jogani Virat als
gedelegeerd bestuurder werd verkeerdelijk vermeld.
Assets
|
Annual accounts |
31-12-2013 |
% |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
% |
31-12-2009 |
|
Weeks |
52 |
|
52 |
|
51 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
|
|||||||||
|
Total fixed assets |
283,252 |
-9.38 |
312,557 |
-51.94 |
650,393 |
34.83 |
482,374 |
2.79 |
469,299 |
|
|
|||||||||
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
Tangible fixed assets |
280,005 |
-9.43 |
309,163 |
-29.06 |
435,811 |
35.34 |
322,016 |
0.46 |
320,553 |
|
Land & building |
246,479 |
-12.54 |
281,808 |
-30.20 |
403,731 |
29.25 |
312,365 |
1.42 |
307,997 |
|
Plant & machinery |
6,674 |
49.24 |
4,472 |
141 |
1,854 |
4.22 |
1,779 |
-11.62 |
2,013 |
|
Furniture & Vehicles |
26,852 |
17.34 |
22,883 |
-24.29 |
30,226 |
283 |
7,872 |
-25.33 |
10,543 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
Financial fixed assets |
3,247 |
-4.33 |
3,394 |
-98.42 |
214,582 |
33.81 |
160,359 |
7.81 |
148,746 |
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets |
35,626,916 |
15.40 |
30,872,402 |
-36.04 |
48,267,428 |
34.14 |
35,982,982 |
9.58 |
32,836,048 |
|
Inventories |
8,072,975 |
-4.88 |
8,486,747 |
-61.72 |
22,168,714 |
52.71 |
14,517,221 |
-21.46 |
18,483,470 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
8,072,975 |
-4.88 |
8,486,747 |
-61.72 |
22,168,714 |
52.71 |
14,517,221 |
-21.46 |
18,483,470 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
|||||||||
|
Trade debtors |
27,533,037 |
23.52 |
22,290,459 |
-13.13 |
25,659,041 |
20.66 |
21,266,284 |
54.47 |
13,767,609 |
|
Other amounts receivable |
15,342 |
73.02 |
8,867 |
-14.54 |
10,376 |
319 |
2,474 |
-94.72 |
46,892 |
|
|
|||||||||
|
Cash |
5,026 |
-94.14 |
85,796 |
-79.94 |
427,776 |
117 |
197,003 |
-63.32 |
537,102 |
|
|
|||||||||
|
Miscellaneous current assets |
536 |
0.56 |
533 |
-64.96 |
1,521 |
- |
0 |
-100 |
975 |
|
Total Assets |
35,910,168 |
15.15 |
31,184,959 |
-36.25 |
48,917,821 |
34.15 |
36,465,356 |
9.49 |
33,305,347 |
Liabilities
|
Total shareholders equity |
9,518,949 |
-0.53 |
9,569,207 |
-21.34 |
12,164,580 |
41.37 |
8,604,966 |
12.97 |
7,616,827 |
|
Issued share capital |
6,888,450 |
-4.33 |
7,200,050 |
-24.21 |
9,500,000 |
33.62 |
7,109,800 |
7.81 |
6,594,900 |
|
Share premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|||||||||
|
Revaluation reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|||||||||
|
Reserves |
2,630,499 |
11.03 |
2,369,157 |
-11.09 |
2,664,580 |
78.21 |
1,495,166 |
46.31 |
1,021,927 |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
|||||||||
|
Deffered taxes |
24,644 |
-6.50 |
26,358 |
-25.89 |
35,568 |
30.72 |
27,210 |
5.51 |
25,789 |
|
|
|
|
|
|
|
|
|
|
|
|
Creditors |
26,366,575 |
22.13 |
21,589,394 |
-41.20 |
36,717,673 |
31.92 |
27,833,179 |
8.46 |
25,662,732 |
|
|
|||||||||
|
Other long term loans |
3,771,512 |
2015 |
178,284 |
-32.91 |
265,748 |
16.51 |
228,094 |
-8.52 |
249,351 |
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
-100 |
1 |
100 |
-1 |
|
Total long term debts |
3,796,156 |
1755 |
204,642 |
-32.08 |
301,316 |
18.02 |
255,305 |
-7.21 |
275,139 |
|
|
|
|
|
|
|
|
|
|
|
|
Current portion of long term debt |
24,556 |
4.60 |
23,476 |
-17.46 |
28,442 |
33.88 |
21,244 |
4.64 |
20,302 |
|
Financial debts |
7,355,404 |
-9.89 |
8,162,328 |
-52.31 |
17,114,748 |
97.59 |
8,661,922 |
-29.31 |
12,252,583 |
|
Trade creditors |
15,173,499 |
14.95 |
13,200,128 |
-29.52 |
18,729,324 |
1.16 |
18,514,689 |
44.89 |
12,778,021 |
|
Amounts Payable for Taxes, |
41,604 |
65.24 |
25,178 |
-82.34 |
142,595 |
104 |
69,722 |
74.50 |
39,955 |
|
Remuneration & Social Security |
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Miscellaneous current liabilities |
0 |
- |
0 |
-100 |
436,816 |
29.42 |
337,508 |
4.65 |
322,520 |
|
Total current liabilities |
22,595,063 |
5.53 |
21,411,110 |
-41.26 |
36,451,925 |
32.05 |
27,605,085 |
8.62 |
25,413,381 |
|
Total Liabilities |
35,910,168 |
15.15 |
31,184,959 |
-36.25 |
48,917,821 |
34.15 |
36,465,356 |
9.49 |
33,305,347 |
|
Ratio Analysis |
|||||||||
|
TRADING PERFORMANCE |
|||||||||
|
Profit Before Tax |
0.45 |
-13.46 |
0.52 |
-20.0 |
0.65 |
38.30 |
0.47 |
235 |
0.14 |
|
Return on capital employed |
3.61 |
-21.86 |
4.62 |
-37.23 |
7.36 |
52.07 |
4.84 |
490 |
0.82 |
|
Return on total assets employed |
1.34 |
-7.59 |
1.45 |
-22.46 |
1.87 |
58.47 |
1.18 |
521 |
0.19 |
|
Return on net assets employed |
5.05 |
6.99 |
4.72 |
-37.40 |
7.54 |
51.41 |
4.98 |
485 |
0.85 |
|
Sales / net working capital |
8.21 |
-9.78 |
9.10 |
-23.85 |
11.95 |
10.34 |
10.83 |
67.91 |
6.45 |
|
|
|||||||||
|
Stock turnover ratio |
7.54 |
-23.53 |
9.86 |
-37.20 |
15.70 |
-1.88 |
16.00 |
-58.56 |
38.61 |
|
|
|||||||||
|
Creditor days |
52.29 |
-7.97 |
56.82 |
15.63 |
49.14 |
-35.00 |
75.60 |
-23.67 |
99.04 |
|
Debtor days |
93.88 |
-0.67 |
94.51 |
42.51 |
66.32 |
-22.47 |
85.54 |
-18.52 |
104.98 |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current ratio |
1.58 |
9.72 |
1.44 |
9.09 |
1.32 |
1.54 |
1.30 |
0.78 |
1.29 |
|
|
|||||||||
|
Liquidity ratio / acid ratio |
1.22 |
16.19 |
1.05 |
45.83 |
0.72 |
-7.69 |
0.78 |
39.29 |
0.56 |
|
|
|||||||||
|
Current debt ratio |
2.37 |
5.80 |
2.24 |
-25.33 |
3.00 |
-6.54 |
3.21 |
-3.89 |
3.34 |
|
Liquidity ratio reprocessed |
|
|
|
|
|
|
|
|
|
|
Cashflow |
395,148 |
3.89 |
380,339 |
-45.95 |
703,715 |
67.05 |
421,259 |
376 |
88,348 |
|
Net worth |
9,518,949 |
-0.53 |
9,569,207 |
-21.34 |
12,164,580 |
41.37 |
8,604,966 |
12.97 |
7,616,827 |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
117.15 |
34.02 |
87.41 |
-38.92 |
143.11 |
38.19 |
103.56 |
-37.01 |
164.40 |
|
|
|||||||||
|
Equity in percentage |
26.51 |
-13.62 |
30.69 |
23.40 |
24.87 |
5.38 |
23.60 |
3.19 |
22.87 |
|
|
|||||||||
|
Total debt ratio |
2.77 |
22.57 |
2.26 |
-25.17 |
3.02 |
-6.79 |
3.24 |
-3.86 |
3.37 |
|
|
|||||||||
|
Working capital |
13,031,853 |
37.74 |
9,461,292 |
-19.92 |
11,815,503 |
41.03 |
8,377,897 |
12.87 |
7,422,667 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT & LOSS |
|
|
|
|
|
|
|
|
|
|
Operating Income Turnover |
107,051,236 107,050,067 |
24.36 24.36 |
86,083,773 86,082,722 |
-39.05 -39.05 |
141,228,192 141,225,725 |
55.63 55.63 |
90,744,298 90,742,780 |
89.56 89.56 |
47,870,551 47,869,926 |
|
Total operating expenses |
105,919,062 |
24.92 |
84,791,404 |
-39.05 |
139,115,235 |
55.63 |
89,387,258 |
89.82 |
47,090,696 |
|
Gross Operating Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|||||||||
|
Operating Charges |
105,920,231 |
24.92 |
84,792,454 |
-39.05 |
139,117,702 |
55.63 |
89,388,776 |
89.82 |
47,091,320 |
|
Employee costs |
152,945 |
17.58 |
130,072 |
-28.06 |
180,811 |
17.31 |
154,131 |
10.05 |
140,058 |
|
Wages and salary |
122,553 |
18.54 |
103,382 |
- |
- |
- |
120,577 |
12.12 |
107,545 |
|
Employee pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social security contributions |
27,661 |
9.16 |
25,340 |
- |
- |
- |
31,228 |
4.40 |
29,911 |
|
Other employee costs |
2,731 |
102 |
1,350 |
- |
0 |
-100 |
2,326 |
-10.57 |
2,601 |
|
Director remuneration |
79,800 |
-30.98 |
115,624 |
- |
- |
- |
145,002 |
- |
- |
|
Amortization and depreciation |
31,275 |
1.98 |
30,668 |
-17.01 |
36,953 |
32.89 |
27,808 |
3.61 |
26,838 |
|
Operating result Total financial income |
1,131,005 13,200 |
-12.41 -21.31 |
1,291,318 16,774 |
-38.81 50.60 |
2,110,490 11,138 |
55.70 224 |
1,355,522 3,431 |
73.96 1143 |
779,230 276 |
|
|
|
|
|
|
|
|
|
|
|
|
Total financial expenses |
663,480 |
-22.52 |
856,350 |
-28.91 |
1,204,633 |
29.52 |
930,107 |
30.12 |
714,802 |
|
Results on ordinary
operations before taxation |
480,725 |
6.42 |
451,742 |
-50.74 |
916,995 |
113 |
428,847 |
562 |
64,704 |
|
Extraordinary Income |
- |
- |
- |
- |
1,774 |
- |
- |
- |
|
|
|
|||||||||
|
Extraordinary Charges |
- |
- |
- |
- |
- |
- |
16,956 |
- |
- |
|
Extraordinary items |
0 |
- |
0 |
-100 |
1,774 |
10.46 |
-16,956 |
- |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
Results for the Year Before
Taxation |
480,725 |
6.42 |
451,742 |
-50.83 |
918,769 |
123 |
411,891 |
536 |
64,704 |
|
|
|||||||||
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|||||||||
|
Taxation |
117,426 |
14.37 |
102,670 |
-59.39 |
252,797 |
1228 |
19,032 |
408 |
3,744 |
|
Results on
ordinary operations after taxation |
363,299 |
4.08 |
349,072 |
-47.44 |
664,198 |
62.07 |
409,815 |
572 |
60,960 |
|
|
|||||||||
|
Net result |
363,873 |
4.06 |
349,671 |
-47.56 |
666,762 |
69.47 |
393,451 |
539 |
61,510 |
|
Profit (Loss) for the Year to
be appropiated |
364,987 |
4.03 |
350,835 |
-47.50 |
668,298 |
69.36 |
394,601 |
530 |
62,576 |
|
|
|||||||||
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social Balance Sheet |
Total |
|
|
|
During the reporting year ended 31-12-2013 |
|||
|
Full-time Employees |
3 |
|
|
|
Part-time Employees |
1 |
|
|
|
Total Fte Employees |
4 |
|
|
|
|
|||
|
Number of hours worked |
|||
|
Full-time Employees |
5,618 |
|
|
|
Part-time Employees |
606 |
|
|
|
Total |
6,224 |
|
|
|
|
|||
|
Personnel Charges |
|||
|
Full-time Employees |
138,054 |
|
|
|
Part-time Employees |
14,891 |
|
|
|
Total |
152,945 |
|
|
|
|
|
|
|
|
Benefits In Addition To Wages - |
|||
|
|
|||
|
During the previous reporting year |
|||
|
Average number employees in Fte |
3 |
|
|
|
Actual working hours |
4,969 |
|
|
|
Personnel Charges |
124,442 |
|
|
|
Benefits In Addition To Wages - |
|||
|
|
|
|
j |
|
|
|||
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration Contracts |
3 |
1 |
3 |
|
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 |
1 |
- |
1 |
|
Higher education (non university) |
1 |
- |
1 |
|
Higher education (university) |
- |
- |
- |
|
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
1 |
0 |
|
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 |
- |
1 |
0 |
|
Other |
- |
- |
- |
|
New staff and leavers |
Full-Time |
Part-Time |
Total Fte |
|
New Starters |
1 |
- |
1 |
|
Leavers |
1 |
- |
1 |
|
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 -
Details -
Payment expectations
|
Payment expectation days |
52.29 |
|
|
Day sales outstanding |
93.88 |
|
|
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 |
|
Industry quartile analysis
Payment expectations
Company result 52.29
Lower 122.25
Median 74.61
Upper 45.81
Day sales outstanding
Company result 93.88
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
Companies that match this address
No Companies Match this address
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
Current director details
Name VIRAT JOGANI
Position Director
Start Date 30/06/2012
Street 142 MECHELSESTEENWEG
ANTWERPEN
Post code 2018
Country Belgium
Name JITENDRA RATILAL SHAH
Position Managing
Director
Start Date 30/06/2012
Street 6 ANGELUS RONCALLILAAN
ANTWERPEN
Post code 2610
Country Belgium
Position Director
Start Date 01/06/2009
Street 6 ANGELUS RONCALLILAAN
ANTWERPEN
Post code 2610
Country Belgium
Name NUTAN
SHREYASH KOTHARI
Position Managing
Director
Start Date 12/09/2006
Street 22 FAZANTENLAAN
ANTWERPEN
Post code 2610
Country Belgium
Name HEMAL V. MODY
Position Director
Start Date 04/06/2007
Street 2 GOUNODSTRAAT
ANTWERPEN
Post code 2018
Country Belgium
Name VINITA SHAH
Position Director
Start Date 01/06/2009
Street --
Post code --
Country --
Name ALPA KOTHARI
Position Director
Start Date 04/06/2007
Street --
Post code --
Country --
Former director details
Name VIRAT JOGANI
Position Managing
Director
Start Date 30/06/2012
End Date Unknown
date
Street 142 MECHELSESTEENWEG
ANTWERPEN
Post code 2018
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.63.39 |
|
|
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.