|
Report No. : |
335206 |
|
Report Date : |
31.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ABHIDIMON BVBA |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 144 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
09.01.1997 |
|
|
|
|
Com. Reg. No.: |
459870763 |
|
|
|
|
Legal Form : |
Private Limited Company (BL/LX) |
|
|
|
|
Line of Business : |
Wholesale of diamonds and other precious stones. |
|
|
|
|
No. of Employee : |
1 |
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the the budget deficit was 3.2% of GDP. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.
|
Source
: CIA |
Business
number 459870763
Branche
Unit Number 2080401065
Company
name ABHIDIMON BVBA
Address
HOVENIERSSTRAAT 30-BUS 144
2018 ANTWERPEN
Number
of staff 1
Date
of establishment 09/01/1997
Telephone
number 032263989
Fax number 032265356
The business was established over 18 years ago.
The business has 1 employees.
The business has been at the address for over 11 years.
Operating Result in the latest trading period decreased 43% on the previous trading period.
Pre-tax profits decreased by 42% compared to the previous trading period.
The business saw an increase in their Cash Balance of 46% during the latest trading period.
Turnover in the latest trading period decreased 45% on the previous trading period.
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX NET WORTH |
WORKING
CAPITAL |
|
|
31/12/2013 |
16,578,212 |
52,951 6,176,189 |
5,555,706 |
|
|
31/12/2012 |
30,213,776 |
91,554 6,137,681 |
5,488,470 |
|
|
31/12/2011 |
42,963,632 |
130,496 6,068,823 |
5,380,808 |
|
|
ACCOUNTS |
||||
|
DATE OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER OF EMPLOYEES CAPITAL |
CASHFLOW |
|
|
31/12/2013 |
20,977,558 |
1 18,592 |
68,772 |
|
|
31/12/2012 |
21,507,591 |
1 18,592 |
112,258 |
|
|
31/12/2011 |
21,766,733 |
1 18,592 |
127,906 |
|
Profitability
Liquidity
Net worth
|
Past payments |
|
Payment expectation days |
53.13 |
|
Industry average payment expectation days |
104.86 |
Industry average day sales outstanding |
181.75 |
|
Day sales outstanding |
267.08 |
|
|
BANKRUPTCY
DETAILS
Court action type No
PROTESTED
BILLS
Bill amount --
NSSO
DETAILS
Date of summons --
|
Business number |
459870763 |
Company name |
ABHIDIMON BVBA |
|
Fax number |
032265356 |
Date founded |
09/01/1997 |
|
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.0459.870.763
Check VAT number |
|
Belgian Bullettin of Acts Publications |
|
|
Registered
contractor
Number --
Contractor
description --
Date
struck off register
PERSONNEL
(NSSO CLASSIFICATION)
Code
--
Description
–
JOINT
INDUSTRIAL COMMITTEE (JIC)
JIC
Code 218
Description
Additional national joint
committee for the employees
category
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 |
620,484 |
-4.42 |
649,211 |
-5.64 |
688,015 |
2.17 |
673,422 |
-4.16 |
702,630 |
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible
fixed assets |
620,084 |
-4.43 |
648,811 |
-5.64 |
687,615 |
2.17 |
673,022 |
-4.16 |
702,230 |
|
Land
& building |
588,795 |
-2.90 |
606,383 |
-4.63 |
635,800 |
-4.42 |
665,218 |
-4.23 |
694,635 |
|
Plant
& machinery |
6,657 |
-6.15 |
7,094 |
86.49 |
3,804 |
-1.37 |
3,857 |
130 |
1,674 |
|
Furniture
& Vehicles |
24,632 |
-30.29 |
35,334 |
-26.40 |
48,011 |
1116 |
3,947 |
-33.34 |
5,921 |
|
Leasing
& Other Similar
Rights |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial
fixed assets |
400 |
0 |
400 |
0 |
400 |
0 |
400 |
0 |
400 |
|
Total
current assets |
20,357,075 |
-2.40 |
20,858,380 |
-1.05 |
21,078,718 |
-3.04 |
21,740,262 |
13.27 |
19,192,498 |
|
Inventories |
5,466,639 |
-0.51 |
5,494,682 |
-26.93 |
7,520,058 |
-2.28 |
7,695,702 |
1.81 |
7,558,591 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Work
in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished
goods |
5,466,639 |
-0.51 |
5,494,682 |
-26.93 |
7,520,058 |
-2.28 |
7,695,702 |
1.81 |
7,558,591 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade
debtors |
12,130,717 |
-14.71 |
14,222,315 |
12.29 |
12,665,440 |
-7.25 |
13,655,791 |
35.01 |
10,114,978 |
|
Other
amounts receivable |
512,702 |
14651 |
3,476 |
-6.97 |
3,736 |
7.73 |
3,468 |
17.44 |
2,953 |
|
Cash |
1,661,033 |
46.62 |
1,132,878 |
28.27 |
883,208 |
129 |
385,301 |
-74.57 |
1,515,283 |
|
Miscellaneous
current assets |
5,904 |
17.37 |
5,030 |
-19.86 |
6,277 |
- |
0 |
-100 |
693 |
|
Total
Assets |
20,977,558 |
-2.46 |
21,507,591 |
-1.19 |
21,766,733 |
-2.89 |
22,413,684 |
12.66 |
19,895,128 |
LIABILITIES
|
Total
shareholders equity |
6,176,189 |
0.63 |
6,137,681 |
1.13 |
6,068,823 |
1.47 |
5,981,086 |
0.94 |
5,925,657 |
|
Issued
share capital |
18,592 |
0 |
18,592 |
0.00 |
18,592 |
0 |
18,592 |
0 |
18,592 |
|
Reserves |
6,157,597 |
0.63 |
6,119,089 |
1.14 |
6,050,231 |
1.47 |
5,962,494 |
0.94 |
5,907,065 |
|
Provisions for
Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered
taxes |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Creditors |
14,801,369 |
-3.70 |
15,369,910 |
-2.09 |
15,697,910 |
-4.47 |
16,432,598 |
17.63 |
13,969,471 |
|
Other
long term loans |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Long
term group loans |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Other
long term liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total
long term debts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Current
portion of long term debt |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Financial
debts |
11,445,982 |
-1.70 |
11,643,465 |
14.43 |
10,174,756 |
-4.58 |
10,663,032 |
10.58 |
9,643,046 |
|
Trade
creditors |
2,381,181 |
-12.16 |
2,710,683 |
-37.06 |
4,306,960 |
-6.12 |
4,587,612 |
48.31 |
3,093,253 |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
5,050 |
-53.40 |
10,838 |
-77.22 |
47,582 |
466 |
8,404 |
-56.66 |
19,390 |
|
Miscellaneous
current liabilities |
969,156 |
-3.56 |
1,004,924 |
-14.01 |
1,168,612 |
-0.42 |
1,173,550 |
-3.31 |
1,213,782 |
|
Total
current liabilities |
14,801,369 |
-3.70 |
15,369,910 |
-2.09 |
15,697,910 |
-4.47 |
16,432,598 |
17.63 |
13,969,471 |
|
Total
Liabilities |
20,977,558 |
-2.46 |
21,507,591 |
-1.19 |
21,766,733 |
-2.89 |
22,413,684 |
12.66 |
19,895,128 |
RATIO ANALYSIS
TRADING PERFORMANCE
|
Profit Before Tax |
0.32 |
6.67 |
0.30 |
0 |
0.30 |
0 |
0.30 |
25.00 |
0.24 |
|
Return on capital employed |
0.86 |
-42.28 |
1.49 |
-30.70 |
2.15 |
32.72 |
1.62 |
88.37 |
0.86 |
|
Return on total assets employed |
0.25 |
-41.86 |
0.43 |
-28.33 |
0.60 |
39.53 |
0.43 |
65.38 |
0.26 |
|
Return on net assets employed |
0.86 |
-42.28 |
1.49 |
-30.70 |
2.15 |
32.72 |
1.62 |
88.37 |
0.86 |
|
Sales / net working capital |
2.98 |
-45.82 |
5.50 |
-31.08 |
7.98 |
31.68 |
6.06 |
46.73 |
4.13 |
|
Stock turnover ratio |
32.97 |
81.25 |
18.19 |
3.94 |
17.50 |
-26.87 |
23.93 |
-31.73 |
35.05 |
|
Creditor days |
53.13 |
60.17 |
33.17 |
-9.94 |
36.83 |
-30.06 |
52.66 |
-0.45 |
52.90 |
|
Debtor days |
267.08 |
55.45 |
171.81 |
59.67 |
107.60 |
-30.58 |
154.99 |
-9.47 |
171.20 |
|
SHORT TERM STABILITY |
|||||||||
|
Current ratio |
1.38 |
1.47 |
1.36 |
1.49 |
1.34 |
1.52 |
1.32 |
-3.65 |
1.37 |
|
Liquidity ratio / acid ratio |
1.01 |
1.00 |
1.00 |
16.28 |
0.86 |
1.18 |
0.85 |
2.41 |
0.83 |
|
Current debt ratio |
2.40 |
-4.00 |
2.50 |
-3.47 |
2.59 |
-5.82 |
2.75 |
16.53 |
2.36 |
|
Liquidity ratio reprocessed |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Cashflow |
68,772 |
-38.74 |
112,258 |
-12.23 |
127,906 |
45.19 |
88,098 |
20.04 |
73,391 |
|
Net worth |
6,176,189 |
0.63 |
6,137,681 |
1.13 |
6,068,823 |
1.47 |
5,981,086 |
0.94 |
5,925,657 |
LONG TERM STABILITY
|
Gearing |
185.32 |
-2.31 |
189.70 |
13.15 |
167.66 |
-5.96 |
178.28 |
9.56 |
162.73 |
|
Equity in percentage |
29.44 |
3.15 |
28.54 |
2.37 |
27.88 |
4.50 |
26.68 |
-10.41 |
29.78 |
|
Total debt ratio |
2.40 |
-4.00 |
2.50 |
-3.47 |
2.59 |
-5.82 |
2.75 |
16.53 |
2.36 |
|
Working capital |
5,555,706 |
1.23 |
5,488,470 |
2.00 |
5,380,808 |
1.38 |
5,307,664 |
1.62 |
5,223,027 |
PROFIT & LOSS
|
Operating Income |
16,604,012 |
-45.09 |
30,239,177 |
-29.64 |
42,976,417 |
33.58 |
32,173,106 |
49.14 |
21,572,795 |
|
Turnover |
16,578,212 |
-45.13 |
30,213,776 |
-29.68 |
42,963,632 |
33.59 |
32,159,672 |
49.13 |
21,565,495 |
|
Total operating expenses |
16,359,905 |
-45.15 |
29,825,752 |
-30.12 |
42,680,150 |
34.22 |
31,798,292 |
48.99 |
21,342,054 |
|
Gross Operating Margin |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Operating Charges |
16,385,705 |
-45.11 |
29,851,153 |
-30.08 |
42,692,936 |
34.21 |
31,811,726 |
49.01 |
21,349,354 |
|
Employee costs |
38,634 |
2.97 |
37,520 |
6.01 |
35,394 |
5.63 |
33,507 |
-0.69 |
33,740 |
|
Wages and salary |
31,419 |
5.16 |
29,877 |
5.57 |
28,300 |
4.13 |
27,178 |
-0.22 |
27,239 |
|
Employee pension costs |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
|
Social security contributions |
6,620 |
-2.31 |
6,776 |
7.03 |
6,331 |
11.01 |
5,703 |
-2.45 |
5,846 |
|
Other employee costs |
596 |
-31.30 |
867 |
13.67 |
763 |
21.88 |
626 |
-4.43 |
655 |
|
Director remuneration |
- |
- |
148,800 |
0 |
148,800 |
0 |
148,800 |
0 |
148,800 |
|
Amortization and depreciation |
30,263 |
-30.27 |
43,400 |
8.04 |
40,169 |
22.96 |
32,669 |
-12.85 |
37,484 |
|
Operating result |
218,308 |
-43.74 |
388,024 |
36.88 |
283,482 |
-21.56 |
361,380 |
61.73 |
223,441 |
|
Total financial income |
32,622 |
2471268 |
1 |
-99 |
93,044 |
112001 |
83 |
-99 |
136,567 |
|
Total financial expenses |
197,978 |
-33.22 |
296,471 |
20.50 |
246,029 |
-7.03 |
264,646 |
-14.33 |
308,906 |
|
Results on ordinary operations before taxation |
52,951 |
-42.16 |
91,554 |
-29.84 |
130,496 |
34.79 |
96,817 |
89.46 |
51,102 |
|
Extraordinary Income |
- |
- |
9,000 |
- |
- |
- |
- |
- |
- |
|
Extraordinary Charges |
- |
- |
- |
- |
- |
- |
17,207 |
- |
- |
|
Extraordinary items |
0 |
-100 |
9,000 |
- |
0 |
0 |
-17,207 |
- |
0 |
|
|
|
|
|
|
|
|
|
|
|
|
Results for the Year Before Taxation |
52,951 |
-47.34 |
100,554 |
-22.94 |
130,496 |
63.92 |
79,610 |
55.79 |
51,102 |
|
Other appropriations |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Taxation |
14,443 |
-54.43 |
31,696 |
-25.87 |
42,759 |
76.83 |
24,181 |
59.14 |
15,195 |
|
Results on ordinary operations after taxation |
38,508 |
-35.67 |
59,858 |
-31.78 |
87,737 |
20.79 |
72,636 |
102 |
35,907 |
|
|
|
|
|
|
|
|
|
|
|
|
Net result |
38,508 |
-44.08 |
68,858 |
-21.52 |
87,737 |
58.29 |
55,429 |
54.37 |
35,907 |
|
|
|
|
|
|
|
|
|
|
|
|
Profit (Loss) for the Year to be appropiated |
38,508 |
-44.08 |
68,858 |
-21.52 |
87,737 |
58.29 |
55,429 |
54.37 |
35,907 |
|
Social Balance Sheet |
Total |
|
|
During the reporting year
ended 31-12 2013 |
||
|
Full-time Employees |
1 |
|
|
Part-time Employees |
- |
|
|
Total Fte Employees |
1 |
|
|
Number of hours worked |
||
|
Full-time Employees |
1,756 |
|
|
Part-time Employees |
- |
|
|
Total |
1,756 |
|
|
Personnel Charges |
||
|
Full-time Employees |
38,352 |
|
|
Part-time Employees |
- |
|
|
Total |
38,352 |
|
|
Benefits In Addition To
Wages |
- |
|
|
During the previous reporting
year |
||
|
Average number employees
in Fte |
1 |
|
|
Actual working hours |
1,740 |
|
|
Personnel Charges |
37,520 |
|
|
Benefits In Addition To
Wages |
- |
|
|
Type of Contract |
Full-Time |
Part-Time |
Total Fte |
|
Unlimited Duration Contracts |
1 |
- |
1 |
|
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 |
- |
- |
- |
|
Higher education (non
university) |
- |
- |
- |
|
Higher education
(university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
Primary education |
- |
- |
- |
|
Secondairy education |
1 |
- |
1 |
|
Higher education (non
university) |
- |
- |
- |
|
Higher education
(university) |
- |
- |
- |
|
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
Management |
-- |
-- |
-- |
|
White collar
worker |
1 |
-- |
1 |
|
Blue collar worker |
-- |
-- |
-- |
|
Other |
-- |
-- |
-- |
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 |
53.13 |
|
|
Day sales outstanding |
267.08 |
|
|
INDUSTRY COMPARISON |
|
|
|
Activity code |
46761 |
|
|
Activity description |
Wholesale of diamonds and
other precious stones |
|
|
Industry average payment
expectation days |
104.86 |
|
|
Industry average day sales
outstanding |
181.75 |
|
PAYMENT
EXPECTATIONS
Company
result 53.13
Lower
118.08
Median
75
Upper
45.40
DAY SALES
OUTSTANDING
Company
result 267.08
Lower
102.33
Median
55.28
Upper
25.06
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
|
Forename |
Jayesh |
Middle name |
- |
|
|
Surname |
Jhaveri |
|
|
|
|
SHAREHOLDER DETAILS |
||||
|
Start date |
25/07/2015(estimated) |
End date |
- |
|
|
Percentage owned |
- |
|
|
|
|
SHAREHOLDER ADDRESS |
|
|
|
|
|
Street name |
- |
House number |
- |
|
|
Minor town |
- |
Postal town |
- |
|
|
Post code |
- |
Country |
Hong Kong |
|
|
SHAREHOLDER NAME |
||||
|
Forename |
Jayesh |
Middle name |
- |
|
|
Surname SHAREHOLDER DETAILS |
Jhaveri |
|
|
|
|
Start date |
25/07/2015(estimated) |
End date |
- |
|
|
Percentage owned -SHAREHOLDER
ADDRESS |
||||
|
Street name |
- |
House number |
- |
|
|
Minor town |
- |
Postal town |
- |
|
|
Post code |
- |
Country |
Hong Kong |
|
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 JAYESH MEHTA
Position Principal Manager
Start Date 09/09/2010
Street 143 BELGIELEI ANTWERPEN
Post code 2018
Country Belgium
Name ATULKUMAR
RAJNIKANT MEHTA
Position Principal Manager
Start Date 09/09/2010
Street 40 ANGELUS RONCALLILAAN ANTWERPEN
Post code 2610
Country Belgium
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 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.64.01 |
|
|
1 |
Rs.99.83 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.