|
Report No. : |
303427 |
|
Report Date : |
20.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
KARP IMPEX NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 120, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.06.1988 |
|
|
|
|
Com. Reg. No.: |
434647003 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones |
|
|
|
|
No. of Employee : |
03 |
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 – 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 434647003
Branche Unit Number 2039128654
Company name KARP IMPEX NV
Address HOVENIERSSTRAAT
30-BUS 120
2018 ANTWERPEN
Number of staff 3
Date of establishment 22/06/1988
Telephone number 032265820
Fax number 032333668
The business was established over 26 years ago.
The business has 1 employees.
The business has been at the address for over 14 years.
Net Worth increased by 42% during the latest trading period.
The business saw a decrease in their Cash Balance of 91% during the
latest trading period.
ACCOUNTS
|
DATE OF
LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2013 |
167,202,859 |
197,103 |
7,108,502 |
15,219,108 |
|
31/12/2012 |
141,686,980 |
189,153 |
4,998,912 |
13,499,372 |
|
31/12/2011 |
204,318,501 |
237,841 |
4,944,788 |
13,562,273 |
|
|
|
|
|
|
|
ACCOUNTS |
|
|
|
|
|
DATE
OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
50,343,034 |
3 |
6,163,350 |
184,690 |
|
31/12/2012 |
53,981,406 |
3 |
4,168,450 |
226,588 |
|
31/12/2011 |
64,051,194 |
3 |
4,250,950 |
222,794 |
|
Past
payments |
|
Payment
expectation days |
7.20 |
|
Industry
average payment expectation days |
123.86 |
Industry
average day sales outstanding |
140.10 |
|
Day
sales outstanding |
99.36 |
|
|
|
BANKRUPTCY DETAILS |
||||
|
Court action type PROTESTED
BILLS |
No |
|
|
|
|
Bill amount |
- |
|
|
|
|
NSSO DETAILS |
||||
|
Date of summons |
- |
|
|
|
|
Business number |
434647003 |
Company
name |
KARP IMPEX NV |
|
Fax number |
032333668 |
Date
founded |
22/06/1988 |
|
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.0434.647.003 Check VAT Number |
|
Belgian
Bullettin of Acts |
moniteur belge |
|
|
JIC Code 218
Description Additional national
joint committee for the employees
Category
Significant Events
Event Date 23/07/2014
Event Details Publicatie
overeenkomstig art. 556 W.Venn.
|
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 |
176,848 |
9.25 |
161,878 |
-27.26 |
222,536 |
-19.57 |
276,667 |
-12.14 |
314,894 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed assets |
176,848 |
12.73 |
156,878 |
-27.70 |
216,969 |
-20.02 |
271,276 |
-12.46 |
309,894 |
|
Land & building |
137,377 |
-9.11 |
151,153 |
-18.03 |
184,393 |
-11.92 |
209,355 |
-6.02 |
222,754 |
|
Plant & machinery |
37,764 |
1802 |
1,985 |
-18.28 |
2,429 |
-30.44 |
3,492 |
-22.31 |
4,495 |
|
Furniture & Vehicles |
1,706 |
-54.37 |
3,739 |
-87.60 |
30,147 |
-48.40 |
58,429 |
-29.30 |
82,645 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other tangible assets |
1 |
0 |
1 |
- |
0 |
- |
0 |
- |
0 |
|
Financial fixed assets |
- |
- |
5,000 |
-10.19 |
5,567 |
3.26 |
5,391 |
7.82 |
5,000 |
|
Total current assets |
50,166,186 |
-6.79 |
53,819,528 |
-15.68 |
63,828,658 |
34.74 |
47,371,742 |
11.48 |
42,494,881 |
|
Inventories |
4,471,513 |
-0.28 |
4,483,925 |
-75.15 |
18,045,542 |
94.56 |
9,275,153 |
54.46 |
6,005,059 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
4,471,513 |
-0.28 |
4,483,925 |
-75.15 |
18,045,542 |
94.56 |
9,275,153 |
54.46 |
6,005,059 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade debtors |
45,517,978 |
-6.66 |
48,767,299 |
6.70 |
45,704,817 |
20.39 |
37,963,639 |
16.13 |
32,689,680 |
|
Other amounts receivable |
1,770 |
-60.54 |
4,485 |
2870 |
151 |
- |
- |
- |
- |
|
Cash |
46,332 |
-91.11 |
521,037 |
1507 |
32,415 |
-67.33 |
99,221 |
-97.38 |
3,784,978 |
|
Miscellaneous current assets |
128,593 |
200 |
42,782 |
-6.45 |
45,733 |
35.59 |
33,729 |
122 |
15,164 |
|
Total Assets |
50,343,034 |
-6.74 |
53,981,406 |
-15.72 |
64,051,194 |
34.42 |
47,648,409 |
11.30 |
42,809,775 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
7,108,502 |
42.20 |
4,998,912 |
1.09 |
4,944,788 |
212 |
1,583,079 |
136 |
668,664 |
|
Issued share capital |
6,163,350 |
47.86 |
4,168,450 |
-1.94 |
4,250,950 |
304 |
1,050,814 |
274 |
280,495 |
|
Share premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Revaluation reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Reserves |
945,152 |
13.81 |
830,462 |
19.69 |
693,838 |
30.36 |
532,265 |
37.12 |
388,169 |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered taxes |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Creditors |
43,234,532 |
-11.73 |
48,982,494 |
-17.13 |
59,106,406 |
28.31 |
46,065,330 |
9.31 |
42,141,111 |
|
Other long term loans |
8,287,454 |
-4.33 |
8,662,338 |
-2.01 |
8,840,021 |
2.85 |
8,595,260 |
44.97 |
5,928,810 |
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total long term debts |
8,287,454 |
-4.33 |
8,662,338 |
-2.01 |
8,840,021 |
2.85 |
8,595,260 |
44.97 |
5,928,810 |
|
Current portion of long term debt |
- |
- |
8,300 |
-75.78 |
34,263 |
-4.83 |
36,001 |
11.87 |
32,182 |
|
Financial debts |
31,464,438 |
12.10 |
28,068,849 |
-15.55 |
33,237,327 |
58.21 |
21,008,413 |
-7.76 |
22,775,228 |
|
Trade creditors |
3,271,267 |
-72.91 |
12,074,494 |
-27.76 |
16,715,317 |
2.97 |
16,233,779 |
22.59 |
13,241,846 |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
49,525 |
47.36 |
33,609 |
-73.76 |
128,071 |
-10.36 |
142,868 |
63.70 |
87,273 |
|
Miscellaneous current liabilities |
161,848 |
19.97 |
134,904 |
-10.90 |
151,407 |
208 |
49,009 |
-35.32 |
75,772 |
|
Total current liabilities |
34,947,078 |
-13.33 |
40,320,156 |
-19.79 |
50,266,385 |
34.15 |
37,470,070 |
3.47 |
36,212,301 |
|
Total Liabilities |
50,343,034 |
-6.74 |
53,981,406 |
-15.72 |
64,051,194 |
34.42 |
47,648,409 |
11.30 |
42,809,775 |
|
Ratio
Analysis |
|
|
|
|
|
|
|
|
|
|||
|
Trading
Performance |
|
|
|
|
|
|
|
|
|
|||
|
Profit Before Tax |
0.12 |
-7.69 |
0.13 |
8.33 |
0.12 |
-25.00 |
0.16 |
23.08 |
0.13 |
|||
|
Return on capital employed |
1.28 |
-7.25 |
1.38 |
-20.23 |
1.73 |
-9.90 |
1.92 |
-4.00 |
2.00 |
|||
|
Return on total assets employed |
0.39 |
11.43 |
0.35 |
-5.41 |
0.37 |
-9.76 |
0.41 |
32.26 |
0.31 |
|||
|
Return on net assets employed |
2.77 |
-26.72 |
3.78 |
-21.41 |
4.81 |
-60.96 |
12.32 |
-37.62 |
19.75 |
|||
|
Sales / net working capital |
10.99 |
4.67 |
10.50 |
-30.33 |
15.07 |
18.66 |
12.70 |
-19.11 |
15.70 |
|||
|
Stock turnover ratio |
2.67 |
-15.51 |
3.16 |
-64.21 |
8.83 |
19.65 |
7.38 |
21.18 |
6.09 |
|||
|
Creditor days |
7.20 |
-77.07 |
31.40 |
4.42 |
30.07 |
-36.79 |
47.57 |
-3.72 |
49.41 |
|||
|
Debtor days |
99.36 |
-20.91 |
125.63 |
53.86 |
81.65 |
-25.93 |
110.23 |
-8.86 |
120.95 |
|||
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
|
|||
|
Current ratio |
1.44 |
8.27 |
1.33 |
4.72 |
1.27 |
0.79 |
1.26 |
7.69 |
1.17 |
|||
|
Liquidity ratio / acid ratio |
1.31 |
7.38 |
1.22 |
34.07 |
0.91 |
-10.78 |
1.02 |
0.99 |
1.01 |
|||
|
Current debt ratio |
4.92 |
-39.03 |
8.07 |
-20.65 |
10.17 |
-57.03 |
23.67 |
-56.30 |
54.16 |
|||
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
||
|
Cashflow |
184,690 |
-18.49 |
226,588 |
1.70 |
222,794 |
16.28 |
191,596 |
23.22 |
155,493 |
|
||
|
Net worth |
7,108,502 |
42.20 |
4,998,912 |
1.09 |
4,944,788 |
212 |
1,583,079 |
136 |
668,664 |
|
||
|
Long Term Stability |
|
|
|
|
|
|
|
|
|
|
||
|
Gearing |
559.22 |
-23.91 |
734.95 |
-13.70 |
851.64 |
-54.51 |
1,872.28 |
-56.43 |
4,297.55 |
|
||
|
Equity in percentage |
14.12 |
52.48 |
9.26 |
19.95 |
7.72 |
132 |
3.32 |
112 |
1.56 |
|
||
|
Total debt ratio |
6.08 |
-37.96 |
9.80 |
-17.99 |
11.95 |
-58.93 |
29.10 |
-53.82 |
63.02 |
|
||
|
Working capital |
15,219,108 |
12.74 |
13,499,372 |
-0.46 |
13,562,273 |
36.97 |
9,901,672 |
57.61 |
6,282,580 |
|
||
|
Profit
& Loss |
|
|
|
|
|
|
|
|
|
|||||
|
Operating
Income |
167,239,706 |
18.00 |
141,730,215 |
-30.63 |
204,325,156 |
62.52 |
125,725,862 |
27.44 |
98,657,301 |
|||||
|
Turnover |
167,202,859 |
18.01 |
141,686,980 |
-30.65 |
204,318,501 |
62.54 |
125,706,873 |
27.43 |
98,651,214 |
|||||
|
Total
operating expenses |
165,745,077 |
18.09 |
140,350,231 |
-30.83 |
202,894,733 |
62.88 |
124,570,673 |
27.34 |
97,826,602 |
|||||
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||||
|
Operating
Charges |
165,781,925 |
18.08 |
140,393,466 |
-30.81 |
202,901,388 |
62.86 |
124,589,662 |
27.35 |
97,832,689 |
|||||
|
Employee
costs |
109,974 |
-8.73 |
120,498 |
11.89 |
107,697 |
41.49 |
76,118 |
29.82 |
58,635 |
|||||
|
Wages
and salary |
75,273 |
-12.20 |
85,732 |
6.67 |
80,373 |
36.42 |
58,916 |
24.69 |
47,251 |
|||||
|
Employee
pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||||
|
Social
security contributions |
27,027 |
-3.80 |
28,095 |
55.77 |
18,036 |
59.19 |
11,330 |
18.59 |
9,554 |
|||||
|
Other
employee costs |
7,674 |
15.04 |
6,671 |
-28.17 |
9,287 |
58.16 |
5,872 |
220 |
1,830 |
|||||
|
Director
remuneration |
57,226 |
-1.25 |
57,952 |
-9.53 |
64,056 |
- |
- |
- |
- |
|||||
|
Amortization
and depreciation |
15,932 |
-72.32 |
57,551 |
-8.92 |
63,187 |
0.56 |
62,835 |
4.35 |
60,217 |
|||||
|
Operating
result |
1,457,782 |
9.05 |
1,336,749 |
-6.11 |
1,423,768 |
25.31 |
1,136,200 |
37.79 |
824,612 |
|||||
|
Total
financial income |
134,777 |
470 |
23,616 |
-83.86 |
146,285 |
-91.76 |
1,775,994 |
660 |
233,568 |
|||||
|
Total
financial expenses |
1,395,455 |
19.15 |
1,171,212 |
-12.09 |
1,332,212 |
-50.97 |
2,717,186 |
193 |
926,131 |
|||||
|
Results on ordinary operations before taxation |
197,103 |
4.20 |
189,153 |
-20.47 |
237,841 |
21.96 |
195,008 |
47.68 |
132,049 |
|||||
|
Extraordinary Income |
- |
- |
- |
- |
- |
- |
- |
- |
3,406 |
|||||
|
Extraordinary Charges |
- |
- |
- |
- |
- |
- |
3,246 |
- |
- |
|||||
|
Extraordinary items |
0 |
- |
0 |
- |
0 |
0 |
-3,246 |
-195 |
3,406 |
|||||
|
Results for the Year Before Taxation |
197,103 |
4.20 |
189,153 |
-20.47 |
237,841 |
24.03 |
191,762 |
41.57 |
135,454 |
|||||
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||||
|
Taxation |
28,346 |
40.92 |
20,115 |
-74.29 |
78,234 |
24.18 |
63,000 |
56.80 |
40,178 |
|||||
|
Results on ordinary operations after taxation |
168,757 |
-0.17 |
169,038 |
5.91 |
159,607 |
20.91 |
132,008 |
43.69 |
91,871 |
|||||
|
Net Result |
168,758 |
-0.17 |
169,037 |
5.91 |
159,607 |
23.96 |
128,761 |
35.14 |
95,277 |
|||||
|
Profit (Loss) for the year to be appropriated |
168,758 |
-0.17 |
169,037 |
5.91 |
159,607 |
23.96 |
128,761 |
35.14 |
95,277 |
|||||
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|||||
|
Social
Balance Sheet |
Total |
|
During
the reporting year |
|
|
ended
31-12-2013 |
|
|
Full-time
Employees |
2 |
|
Part-time
Employees |
2 |
|
Total
Fte Employees |
4 |
|
Number
of hours worked |
|
|
Full-time
Employees |
3,504 |
|
Part-time
Employees |
2,594 |
|
Total |
6,098 |
|
Personnel
Charges |
|
|
Full-time
Employees |
67,423 |
|
Part-time
Employees |
42,550 |
|
Total |
109,974 |
|
Benefits
In Addition To Wages |
- |
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
3 |
|
Actual
working hours |
5,933 |
|
Personnel
Charges |
115,283 |
|
Benefits
In Addition To Wages |
- |
|
Type
of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
Unlimited Duration
Contracts |
2 |
2 |
4 |
|
Gender
and Education |
|
|
|
|
Level |
|
|
|
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
Higher
education (non -university) |
- |
1 |
1 |
|
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
Secondairy
education |
1 |
1 |
2 |
|
Higher
education (non -university) |
1 |
- |
1 |
|
Working
Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
2 |
2 |
4 |
Activity code 46761
Activity description Wholesale of
diamonds and other precious stones
Payment Information Summary
Total number of Invoices available
Total number of Invoices paid
within or up to 30 days after the due date
Total number of Invoices paid
more than 30 days after the due date
Total number of Invoices currently
outstanding where the due date has not yet been reached
Total number of Invoices currently
outstanding beyond the due date
Payment expectation days 7.20
Day sales outstanding 99.36
Activity code 46761
Activity description Wholesale of
diamonds and other precious stones
Industry average payment
expectation days 123.86
Industry average day sales
Outstanding 140.10
Payment expectations
Company result 7.20
Lower 120.92
Median 74.35
Upper 45.81
Day sales outstanding
Company result 99.36
Lower 101.92
Median 54.07
Upper 23.99
Group Structure
No group structure for this company.
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Individual Shareholders
|
Forename |
Pankajbhai |
Middle
name |
- |
|
Surname |
Virani |
|
|
|
|
|
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
10/12/2013(estimated) |
End
date |
- |
|
Percentage
owned |
- |
|
|
|
|
|
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
Acacialaan |
House
number |
1 |
|
Minor town |
- |
Postal
town |
Antwerpen |
|
Post code |
2020 |
Country |
Belgium |
|
|
|
|
|
|
SHAREHOLDER
NAME |
|
|
|
|
Forename |
Rasila |
Middle
name |
- |
|
Surname |
Virani |
|
|
|
|
|
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
18/01/2011(estimated) |
End
date |
- |
|
Percentage
owned |
- |
|
|
|
|
|
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
Ashley Road |
House
number |
6 |
|
Minor town |
- |
Postal
town |
- |
|
Post code |
xx |
Country |
Hong Kong |
|
|
|
|
|
|
SHAREHOLDER
NAME |
|
|
|
|
Forename |
Rasila |
Middle
name |
- |
|
Surname |
Virani |
|
|
|
|
|
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
18/01/2011(estimated) |
End
date |
- |
|
Percentage
owned |
- |
|
|
|
|
|
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
Ashley Road |
House
number |
6 |
|
Minor town |
- |
Postal
town |
- |
|
Post code |
xx |
Country |
Hong Kong |
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 |
RASILA RAMESH VIRANI |
|
Position |
Director |
|
Start Date |
25/08/2003 |
|
Street |
6 ASHLEY ROAD |
|
Post code |
XX |
|
Country |
Hong Kong |
|
|
|
|
Name |
KARP IMPEX |
|
Position |
Director |
|
Start Date |
01/07/2009 |
|
End Date |
30/06/2015 |
|
Street |
1411 PRASAD CHAMBERS, OPERA HOUSE |
|
Post code |
400 004 |
|
Country |
India |
|
|
|
|
Name |
ANILKUMAR VIRANI |
|
Position |
Legal Representative |
|
Start Date |
25/08/2003 |
FORMER DIRECTOR DETAILS
|
Name |
KARP IMPEX LTD SOC. ETRANGERE |
|
Position |
Director |
|
Start Date |
08/06/2003 |
|
End Date |
Unknown date |
|
Street |
1411 PRASAD CHAMBERS, OPERA HOUSE |
|
Post code |
|
|
Country |
India |
|
|
|
|
Name |
PANKAJBHAI BHIKHABHAI VIRANI |
|
Position |
Managing Director |
|
Start Date |
20/10/2003 |
|
End Date |
Unknown date |
|
Street |
1 ACACIALAAN ANTWERPEN |
|
Post code |
2020 |
|
Country |
Belgium |
|
|
|
|
Position |
Director |
|
Start Date |
20/10/2003 |
|
End Date |
Unknown date |
|
Street |
1 ACACIALAAN ANTWERPEN |
|
Post code |
2020 |
|
Country |
Belgium |
|
|
|
|
Name |
GERDA AERTS |
|
Position |
Principal Manager |
|
Start Date |
31/12/1995 |
|
End Date |
Unknown date |
|
Street |
83 KRUISBEKSTRAAT ANTWERPEN |
|
Post code |
2170 |
|
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.61.70 |
|
|
1 |
Rs.93.41 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.