|
Report No. : |
303441 |
|
Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
BELFORD INTERNATIONAL NV |
|
|
|
|
Registered Office : |
Rijfstraat 2-Bus 242, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
30.04.2014 |
|
|
|
|
Date of Incorporation : |
30.01.1998 |
|
|
|
|
Com. Reg. No.: |
462514707 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Diamonds and
Other Precious Stones |
|
|
|
|
No. of Employee : |
01 |
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 |
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 462514707
Branche Unit Number 2085437840
Company name BELFORD
INTERNATIONAL NV
Address RIJFSTRAAT 2-BUS
242
2018 ANTWERPEN
Number of staff 0
Date of establishment 30/01/1998
The business was established over 16 years ago.
The business has 1 employees.
The business has been at the address for over 2 years.
Net Worth increased by 23% during the latest trading period.
A 40% decline in Total Assets occurred during the latest trading period.
The business saw an increase in their Cash Balance of 168% during the
latest trading period.
ACCOUNTS
|
DATE
OF LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
30/04/2014 |
30,852,401 |
89,704 |
312,625 |
1,098,101 |
|
30/04/2013 |
|
77,981 |
252,848 |
2,383,369 |
|
30/04/2012 |
|
98,881 |
176,617 |
2,318,895 |
|
|
|
|
|
|
|
ACCOUNTS |
|
|
|
|
|
DATE
OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
30/04/2014 |
3,711,532 |
0 |
75,000 |
59,806 |
|
30/04/2013 |
6,199,231 |
0 |
75,000 |
76,261 |
|
30/04/2012 |
8,768,164 |
0 |
75,000 |
98,911 |
|
Past
payments |
|
Payment
expectation days |
28.83 |
|
Industry
average payment expectation days |
123.86 |
Industry
average day sales outstanding |
140.10 |
|
Day
sales outstanding |
2.79 |
|
|
|
BANKRUPTCY DETAILS |
||||
|
Court action type PROTESTED
BILLS |
No |
|
|
|
|
Bill amount |
- |
|
|
|
|
NSSO DETAILS |
||||
|
Date of summons |
- |
|
|
|
|
Business number |
462514707 |
Company name |
BELFORD INTERNATIONAL NV |
|
Fax number |
-- |
Date founded |
30/01/1998 |
|
Company status |
active |
Company type |
Public Limited Liability Company (BE) |
|
Currency |
Euro (€) |
Date of latest accounts |
30/04/2014 |
|
Activity code |
46761 |
Liable for VAT |
Yes |
|
Activity description |
Wholesale of diamonds and other precious
stones |
VAT Number |
BE.0462.514.707 Check VAT number |
|
Belgian Bullettin of Acts |
moniteur belge |
|
|
Significant Events
Event Date 29/09/2011
Event Description re-appointment of
director(s)
Event Details Commentaar
29-09-2011: Herbenoemd als bestuurders tot na de algemene vergadering van 2017:
Paras Kumarbhai, Patel Samir (tevens gedelegeerd bestuurder) en Patel
Simabahen.
Event Date 29/09/2011
Event Description re-appointment of
director(s)
Event Details Commentaar
29-09-2011: Herbenoemd als bestuurders tot na de algemene vergadering van 2017:
Paras Kumarbhai, Patel Samir (tevens gedelegeerd bestuurder) en Patel
Simabahen.
Event Date 30/12/2012
Event Description proposal to change
address filed
Event Details
Event Date 30/12/2012
Event Description proposal to change
address filed
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
Annual accounts |
30-04-2014 |
% |
30-04-2013 |
% |
30-04-2012 |
% |
30-04-2011 |
% |
30-04-2010 |
|
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
|
Total
fixed assets |
14,524 |
7021 |
204 |
-12.82 |
234 |
-11.37 |
264 |
-10.21 |
294 |
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Tangible
fixed assets |
50 |
-37.50 |
80 |
-27.27 |
110 |
-21.43 |
140 |
-17.65 |
170 |
|
|
Land
& building |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Plant
& machinery |
50 |
-37.50 |
80 |
-27.27 |
110 |
-21.43 |
140 |
-17.65 |
170 |
|
|
Furniture
& Vehicles |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Leasing
& Other Similar Rights |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Financial
fixed assets |
14,474 |
11577 |
124 |
0 |
124 |
0 |
124 |
0 |
124 |
|
|
Total
current assets |
3,697,008 |
-40.36 |
6,199,027 |
-29.30 |
8,767,930 |
298 |
2,202,356 |
-4.02 |
2,294,684 |
|
|
Inventories |
3,020,585 |
802 |
334,686 |
-46.67 |
627,600 |
210 |
202,156 |
0 |
202,156 |
|
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Work
in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Finished
goods |
3,020,585 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
|
Other
stocks |
0 |
-100 |
334,686 |
-46.67 |
627,600 |
210 |
202,156 |
0 |
202,156 |
|
|
Trade debtors |
235,841 |
-95.82 |
5,647,170 |
-28.61 |
7,909,949 |
358 |
1,723,438 |
-7.42 |
1,861,481 |
|
|
Other amounts receivable |
394,279 |
97.23 |
199,905 |
5.78 |
188,979 |
7.26 |
176,192 |
-1.72 |
179,279 |
|
|
Cash |
46,303 |
168 |
17,265 |
-58.03 |
41,133 |
197 |
13,810 |
-24.82 |
18,370 |
|
|
Miscellaneous current assets |
0 |
- |
0 |
-100 |
269 |
-99 |
86,759 |
159 |
33,397 |
|
|
Total Assets |
3,711,532 |
-40.13 |
6,199,231 |
-29.30 |
8,768,164 |
298 |
2,202,620 |
-4.02 |
2,294,978 |
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
312,625 |
23.64 |
252,848 |
43.16 |
176,617 |
127 |
77,736 |
6.00 |
73,338 |
|
Issued share capital |
75,000 |
0 |
75,000 |
0 |
75,000 |
0 |
75,000 |
0 |
75,000 |
|
Share premium account |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Revaluation reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Reserves |
237,625 |
33.61 |
177,848 |
75.02 |
101,617 |
3614 |
2,736 |
164 |
-1,662 |
|
Provisions for Liabilities &
Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered taxes |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Creditors |
3,398,907 |
-42.84 |
5,946,383 |
-30.79 |
8,591,547 |
304 |
2,124,884 |
-4.36 |
2,221,640 |
|
Other long term loans |
- |
- |
2,130,724 |
-0.55 |
2,142,512 |
5.96 |
2,022,064 |
-4.34 |
2,113,839 |
|
Long term group loans |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Other long term liabilities |
800,000 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total long term debts |
800,000 |
-62.45 |
2,130,724 |
-0.55 |
2,142,512 |
5.96 |
2,022,064 |
-4.34 |
2,113,839 |
|
Current portion of long term
debt |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Financial debts |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Trade creditors |
2,443,656 |
-35.93 |
3,813,909 |
-40.64 |
6,425,014 |
6822 |
92,820 |
-7.00 |
99,801 |
|
Amounts Payable for Taxes,
Remuneration & Social Security |
30,041 |
1616 |
1,750 |
8233 |
21 |
- |
- |
- |
- |
|
Miscellaneous
current liabilities |
125,210 |
- |
0 |
-100 |
24,000 |
140 |
10,000 |
25.00 |
8,000 |
|
Total current liabilities |
2,598,907 |
-31.89 |
3,815,659 |
-40.83 |
6,449,035 |
6172 |
102,820 |
-4.62 |
107,801 |
|
Total Liabilities |
3,711,532 |
-40.13 |
6,199,231 |
-29.30 |
8,768,164 |
298 |
2,202,620 |
-4.02 |
2,294,978 |
|
Ratio
Analysis |
|
|
|
|
|
|
|
|
|
|
Trading
Performance |
|
|
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.29 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Return
on capital employed |
8.06 |
146 |
3.27 |
-23.24 |
4.26 |
1928 |
0.21 |
- |
0.00 |
|
Return
on total assets employed |
2.42 |
92.06 |
1.26 |
11.50 |
1.13 |
465 |
0.20 |
- |
0.00 |
|
Return
on net assets employed |
28.69 |
-6.97 |
30.84 |
-44.92 |
55.99 |
889 |
5.66 |
4716 |
-0.12 |
|
Sales
/ net working capital |
28.10 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Stock
turnover ratio |
9.79 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Creditor days |
28.83 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Debtor days |
2.79 |
- |
- |
- |
- |
- |
- |
- |
- |
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current ratio |
1.42 |
-12.35 |
1.62 |
19.12 |
1.36 |
-93.65 |
21.42 |
0.61 |
21.29 |
|
Liquidity ratio / acid ratio |
0.26 |
-83.12 |
1.54 |
22.22 |
1.26 |
-93.52 |
19.45 |
0.21 |
19.41 |
|
Current debt ratio |
8.31 |
-44.93 |
15.09 |
-58.67 |
36.51 |
2665 |
1.32 |
-10.20 |
1.47 |
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
|
- |
- |
- |
|
Cashflow |
59,806 |
-21.58 |
76,261 |
-22.90 |
98,911 |
2133 |
4,428 |
7428 |
-60 |
|
Net worth |
312,625 |
23.64 |
252,848 |
43.16 |
176,617 |
127 |
77,736 |
6.00 |
73,338 |
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
- |
- |
842.69 |
-30.53 |
1,213.08 |
-53.36 |
2,601.20 |
-9.75 |
2,882.33 |
|
Equity in percentage |
8.42 |
106 |
4.08 |
102 |
2.01 |
-43.06 |
3.53 |
10.31 |
3.20 |
|
Total debt ratio |
10.87 |
-53.78 |
23.52 |
-51.65 |
48.65 |
78.01 |
27.33 |
-9.77 |
30.29 |
|
Working capital |
1,098,101 |
-53.93 |
2,383,369 |
2.78 |
2,318,895 |
10.45 |
2,099,537 |
-3.99 |
2,186,883 |
|
Profit & Loss |
|
|
|
|
|
|
|
|
|
|
Operating Income |
30,856,278 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Turnover |
30,852,401 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Total operating expenses |
30,941,042 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Gross Operating Margin |
- |
- |
-90,943 |
-242 |
63,830 |
18.95 |
53,659 |
-23.32 |
69,979 |
|
Operating Charges |
30,944,918 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Employee costs |
- |
- |
- |
- |
- |
- |
- |
- |
9,066 |
|
Wages and salary |
- |
- |
- |
- |
- |
- |
- |
- |
7,604 |
|
Employee pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social security contributions |
- |
- |
- |
- |
- |
- |
- |
- |
1,462 |
|
Other employee costs |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Director remuneration |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Amortization and depreciation |
30 |
0 |
30 |
0 |
30 |
0 |
30 |
0 |
30 |
|
Operating result |
-88,641 |
97.03 |
-91,352 |
-244 |
63,331 |
18.65 |
53,375 |
-12.04 |
60,683 |
|
Total financial income |
804,401 |
-8.90 |
883,030 |
27.85 |
690,683 |
676 |
88,973 |
28700880 |
0 |
|
Total financial expenses |
626,055 |
-12.28 |
713,697 |
8.94 |
655,133 |
374 |
137,950 |
126 |
60,773 |
|
Results on ordinary operations
before taxation |
89,704 |
15.03 |
77,981 |
-21.14 |
98,881 |
2148 |
4,398 |
4908 |
-90 |
|
Extraordinary Income |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary Charges |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Extraordinary items |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Results for the Year Before
Taxation |
89,704 |
15.03 |
77,981 |
-21.14 |
98,881 |
2148 |
4,398 |
4908 |
-90 |
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Taxation |
29,928 |
1610 |
1,750 |
- |
- |
- |
- |
- |
- |
|
Results on ordinary operations
after taxation |
59,776 |
-21.59 |
76,231 |
-22.91 |
98,881 |
2148 |
4,398 |
4908 |
-90 |
|
Net result |
59,776 |
-21.59 |
76,231 |
-22.91 |
98,881 |
2148 |
4,398 |
4908 |
-90 |
|
Profit (Loss) for the Year
to be appropriated |
59,776 |
-21.59 |
76,231 |
-22.91 |
98,881 |
2148 |
4,398 |
4908 |
-90 |
|
Dividends |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Activity code 46761
Activity description Wholesale of
diamonds and other precious stones
Payment expectations
Payment expectation days 28.83
Day sales outstanding 2.79
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 28.83
Lower 120.92
Median 74.35
Upper 45.81
Day sales outstanding
Company result 2.79
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
|
Business Number |
Company
name |
% |
Date
of Accounts |
|
848061694 |
Annomis Jewellers NV |
23.33 |
30/04/2014 |
|
Individual
Shareholders |
|
|
|
|
SHAREHOLDER
NAME |
|
|
|
|
Forename |
Samir |
Middle
name |
- |
|
Surname |
Patel |
|
|
|
|
|
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
27/07/2000 |
End date |
- |
|
Percentage
owned |
- |
|
|
|
|
|
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
Justitiestraat |
House
number |
4 |
|
Minor town |
- |
Postal
town |
Antwerpen |
|
Post code |
2018 |
Country |
Belgium |
|
|
|
|
|
|
SHAREHOLDER
NAME |
|
|
|
|
Forename |
Pankajbhai |
Middle
name |
- |
|
Surname |
Virani |
|
|
|
|
|
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
27/07/2000 |
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 |
Pradipkumar |
Middle
name |
- |
|
Surname |
Thakkar |
|
|
|
|
|
|
|
|
SHAREHOLDER
DETAILS |
|
|
|
|
Start date |
27/07/2000 |
End date |
- |
|
Percentage
owned |
- |
|
|
|
|
|
|
|
|
SHAREHOLDER
ADDRESS |
|
|
|
|
Street
name |
Juhu Police Street, MUMBAI 56 |
House
number |
- |
|
Minor town |
- |
Postal
town |
- |
|
Post code |
- |
Country |
India |
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 |
SAGAR PATEL |
|
Position |
Managing Director |
|
Start Date |
01/02/2014 |
|
End Date |
26/09/2019 |
|
Street |
17 QUINTEN MATSIJSLEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Position |
Director |
|
Start Date |
01/02/2014 |
|
Street |
17 QUINTEN MATSIJSLEI ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
PARAS KUMARBHAI PATEL |
|
Position |
Director |
|
Start Date |
28/09/2007 |
|
Street |
19 LAGUNA VERDE, COSTA DEL SOL |
|
Post code |
HK |
|
Country |
Hong Kong |
|
|
|
|
CURRENT
MANDATES IN OTHER COMPANIES |
|
|
Name |
Annomis Jewellers NV |
|
Business
number |
848061694 |
|
Position |
Director |
|
Start Date |
16/08/2012 |
|
Business
number |
848061694 |
|
Position |
Legal Representative |
|
Start Date |
16/08/2012 |
FORMER DIRECTOR DETAILS
|
Name |
KISHOR PATEL |
|
Position |
Managing Director |
|
Start Date |
20/10/2005 |
|
End Date |
Unknown date |
|
|
|
|
Position |
Director |
|
Start Date |
27/07/2000 |
|
End Date |
Unknown date |
|
|
|
|
Name |
PRADIPKUMAR CHIMANLAL THAKKAR |
|
Position |
Principal Manager |
|
Start Date |
30/01/1998 |
|
End Date |
Unknown date |
|
Street |
JUHU POLICE STREET, MUMBAI 56 |
|
Country |
India |
|
|
|
|
Name |
SAMIR KISHOR PATEL |
|
Position |
Managing Director |
|
Start Date |
03/12/2007 |
|
End Date |
01/02/2014 |
|
Street |
4 JUSTITIESTRAAT ANTWERPEN |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Position |
Director |
|
Start Date |
29/09/2005 |
|
End Date |
30/04/2013 |
|
Street |
4 JUSTITIESTRAAT 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.61.61 |
|
|
1 |
Rs.93.49 |
|
Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.