|
Report No. : |
339326 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
CLARK DIAMONDS LIMITED |
|
|
|
|
Formerly Known As : |
CLARK DIAMONDS (BIRMINGHAM) LIMITED |
|
|
|
|
Registered Office : |
62 Tenby Street Northbirminghamwest
Midlandsb1 3EG |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
06.09.1984 |
|
|
|
|
Com. Reg. No.: |
01846352 |
|
|
|
|
Legal Form : |
Private Limited With Share Capital |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
15 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED KINGDOM ECONOMIC
OVERVIEW
The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. In 2008, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated an austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 20% by 2015. However, the deficit still remains one of the highest in the G7, standing at 5.8% in 2013. The Bank of England (BoE) implemented an asset purchase program of �375 billion (approximately $586 billion) as of December 2014. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.8%, accelerating unexpectedly because of greater consumer spending and a recovering housing market.
|
Source
: CIA |
|
Registered
Address |
62
TENBY STREET NORTH |
Trading
Address |
62 Tenby
Street North |
|
Website
Address |
http://www.clarkdiamonds.co.uk |
|
|
|
Telephone
Number |
01212361724 |
Fax Number |
-- |
|
TPS |
Yes |
FPS |
No |
|
Incorporation
Date |
06/09/1984 |
|
|
|
Previous
Name |
CLARK DIAMONDS (BIRMINGHAM) LIMITED |
Type |
Private limited with Share Capital |
|
FTSE Index |
- |
Date of
Change |
08/11/1993 |
|
Filing Date
of Accounts |
09/11/2013 |
Currency |
GBP |
|
Share
Capital |
£3,000 |
SIC07 |
46900 |
|
Charity
Number |
-- |
|
|
|
SIC07
Description |
NON-SPECIALISED
WHOLESALE TRADE |
||
|
Principal
Activity |
A
diamond merchants |
||
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder |
Funds Employees |
|
30/06/2013 |
£11,779,006 |
£882,094 |
£3,109,132 |
15 |
|
30/06/2012 |
£11,154,404 |
£45,969 |
£2,729,169 |
14 |
|
30/06/2011 |
£9,752,185 |
£644,409 |
£3,004,018 |
13 |
Total Mortgage 2
Outstanding 2
Satisfied 0
Total Number of
Documented Trade 6
Total Value of
Documented Trade £418,369
|
This company has been treated as a Medium
company in respect of the rating/limit generated. |
|
This company's ratio of total liabilities to
total assets indicates the presence of moderate equity funding. |
|
This company's return on total assets
employed ratio indicates a highly efficient use of assets. |
|
The company has more cash than short term
bank borrowings. |
|
This company trades in an industry with a
lower level of corporate failures. |
|
Total Number of Exact CCJs - |
0 |
Total Value of Exact CCJs - |
|
|
Total Number of Possible CCJs - |
0 |
Total Value of Possible CCJs - |
|
|
Total Number of Satisfied CCJs - |
0 |
Total Value of Satisfied CCJs - |
|
|
Total Number of Writs - |
- |
|
Total Current Directors |
4 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company
Secretaries |
2 |
|
Name |
Mark Coleman
Barrows |
Date of Birth |
24/03/1954 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present
Appointments |
2 |
Function |
Director |
|
Appointment Date |
19/01/1993 |
||
|
Address |
Redhill House,
Bromsgrove Road, Hunnington, West Midlands, B62 0JS |
||
|
Name |
David Kimberley |
Date of Birth |
24/06/1973 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
01/07/2013 |
||
|
Address |
62 Tenby Street North, Birmingham, West
Midlands, B1 3EG |
||
|
Name |
Michael James Barrows |
Date of Birth |
24/04/1982 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
5 |
Function |
Director |
|
Appointment Date |
01/07/2013 |
||
|
Address |
62 Tenby Street North, Birmingham, West
Midlands, B1 3EG |
||
|
Name |
Simon Ian Barrows |
Date of Birth |
12/04/1984 |
|
Officers Title |
Mr |
Nationality |
British |
|
Present Appointments |
1 |
Function |
Director |
|
Appointment Date |
01/07/2013 |
||
|
Address |
62 Tenby Street North, Birmingham, West Midlands,
B1 3EG |
||
|
Name |
Lynn Christina Richardson |
Date of Birth |
- |
|
Officers Title |
Mrs |
Nationality |
British |
|
Present Appointments |
4 |
Function |
Company Secretary |
|
Appointment Date |
01/11/2003 |
||
|
Address |
33 Doveridge Road, Hall Green, Birmingham,
West Midlands, B28 0LT |
||
Top 20 Shareholders
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
% of Total Share Count |
|
MARK COLEMAN BARROWS |
GBP |
1,200 |
ORDINARY A |
1 |
40 |
|
SIMON IAN BARROWS |
GBP |
900 |
ORDINARY B |
1 |
30 |
|
MICHAEL JAMES BARROWS |
GBP |
900 |
ORDINARY B |
1 |
30 |
|
Date Of Accounts |
30/06/13 |
(%) |
30/06/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
(%) |
GBP |
|
Consolidated A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
£11,779,006 |
5.6% |
£11,154,404 |
14.4% |
£9,752,185 |
5.1% |
£9,274,971 |
32.9% |
£6,977,312 |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost of Sales |
- |
- |
- |
- |
- |
- |
- |
-100% |
£5,657,851 |
|
Gross Profit |
- |
- |
- |
- |
- |
- |
- |
- |
£1,319,461 |
|
Wages & Salaries |
£945,644 |
-11.9% |
£1,073,406 |
2.4% |
£1,048,213 |
6.9% |
£980,679 |
15.1% |
£852,132 |
|
Directors Emoluments |
£111,014 |
-57.5% |
£261,185 |
-6.5% |
£279,324 |
-15.3% |
£329,775 |
0.3% |
£328,921 |
|
Operating Profit |
£880,693 |
999.9% |
£43,605 |
-93.2% |
£643,147 |
65.2% |
£389,212 |
73.5% |
£224,394 |
|
Depreciation |
£8,562 |
-3.1% |
£8,834 |
-15.4% |
£10,443 |
-1.7% |
£10,621 |
-21.8% |
£13,586 |
|
Audit Fees |
£8,750 |
6.1% |
£8,250 |
1.2% |
£8,150 |
- |
£8,150 |
2.5% |
£7,950 |
|
Interest Payments |
- |
- |
- |
- |
- |
- |
- |
-100% |
£50 |
|
Pre Tax Profit |
£882,094 |
999.9% |
£45,969 |
-92.9% |
£644,409 |
65.5% |
£389,257 |
58.8% |
£245,103 |
|
Taxation |
-£202,131 |
-870.9% |
-£20,818 |
86.9% |
-£158,640 |
-74.4% |
-£90,955 |
-71.9% |
-£52,905 |
|
Profit After Tax |
£679,963 |
999.9% |
£25,151 |
-94.8% |
£485,769 |
62.8% |
£298,302 |
55.2% |
£192,198 |
|
Dividends Payable |
£300,000 |
- |
£300,000 |
- |
£300,000 |
- |
£300,000 |
- |
£300,000 |
|
Retained Profit |
£379,963 |
238.2% |
-£274,849 |
-248% |
£185,769 |
999.9% |
-£1,698 |
98.4% |
-£107,802 |
|
Date Of Accounts |
30/06/13 |
(%) |
30/06/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Tangible Assets |
£28,274 |
-4.3% |
£29,544 |
-15.2% |
£34,836 |
-1.1% |
£35,236 |
-21.2% |
£44,727 |
|
Intangible Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Fixed Assets |
£28,274 |
-4.3% |
£29,544 |
-15.2% |
£34,836 |
-1.1% |
£35,236 |
-21.2% |
£44,727 |
|
Stock |
£3,025,395 |
10.9% |
£2,728,905 |
-4.5% |
£2,857,404 |
0.4% |
£2,845,163 |
33.1% |
£2,137,698 |
|
Trade Debtors |
£2,304,043 |
17.6% |
£1,958,689 |
19% |
£1,645,480 |
-0.2% |
£1,648,590 |
5% |
£1,570,761 |
|
Cash |
£263,706 |
-71.9% |
£939,665 |
10.3% |
£851,725 |
45.3% |
£586,378 |
-24% |
£771,194 |
|
Other Debtors |
£48,145 |
-22.2% |
£61,900 |
63.5% |
£37,863 |
8.2% |
£35,005 |
7.1% |
£32,695 |
|
Miscellaneous Current Assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
£5,641,289 |
-0.8% |
£5,689,159 |
5.5% |
£5,392,472 |
5.4% |
£5,115,136 |
13.4% |
£4,512,348 |
|
Trade Creditors |
£1,462,062 |
-27.1% |
£2,006,488 |
55.3% |
£1,291,874 |
6.5% |
£1,213,560 |
21.3% |
£1,000,860 |
|
Bank Loans & Overdrafts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Short Term Finance |
£776,652 |
3.8% |
£748,454 |
10.2% |
£679,354 |
19.4% |
£569,024 |
70.6% |
£333,609 |
|
Miscellaneous Current Liabilities |
£321,717 |
37.1% |
£234,592 |
-48.1% |
£452,062 |
-17.7% |
£549,539 |
36.5% |
£402,659 |
|
Total Current Liabilities |
£2,560,431 |
-14.4% |
£2,989,534 |
23.4% |
£2,423,290 |
3.9% |
£2,332,123 |
34.3% |
£1,737,128 |
|
Bank Loans & Overdrafts and LTL |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other Long Term Finance |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Date Of Accounts |
30/06/13 |
(%) |
30/06/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Called Up Share
Capital |
£3,000 |
- |
£3,000 |
- |
£3,000 |
- |
£3,000 |
- |
£3,000 |
|
P & L Account
Reserve |
£3,100,132 |
14% |
£2,720,169 |
-9.2% |
£2,995,018 |
6.6% |
£2,809,249 |
-0.1% |
£2,810,947 |
|
Revaluation
Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry Reserves |
£6,000 |
- |
£6,000 |
- |
£6,000 |
- |
£6,000 |
- |
£6,000 |
|
Shareholder Funds |
£3,109,132 |
13.9% |
£2,729,169 |
-9.1% |
£3,004,018 |
6.6% |
£2,818,249 |
-0.1% |
£2,819,947 |
|
Date Of Accounts |
30/06/13 |
(%) |
30/06/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Net Worth |
£3,109,132 |
13.9% |
£2,729,169 |
-9.1% |
£3,004,018 |
6.6% |
£2,818,249 |
-0.1% |
£2,819,947 |
|
Working Capital |
£3,080,858 |
14.1% |
£2,699,625 |
-9.1% |
£2,969,182 |
6.7% |
£2,783,013 |
0.3% |
£2,775,220 |
|
Total Assets |
£5,669,563 |
-0.9% |
£5,718,703 |
5.4% |
£5,427,308 |
5.4% |
£5,150,372 |
13% |
£4,557,075 |
|
Total Liabilities |
£2,560,431 |
-14.4% |
£2,989,534 |
23.4% |
£2,423,290 |
3.9% |
£2,332,123 |
34.3% |
£1,737,128 |
|
Net Assets |
£3,109,132 |
13.9% |
£2,729,169 |
-9.1% |
£3,004,018 |
6.6% |
£2,818,249 |
-0.1% |
£2,819,947 |
|
Date Of Accounts |
30/06/13 |
(%) |
30/06/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Net Cashflow from
Operations |
-£349,137 |
-163.7% |
£547,936 |
-17.6% |
£664,818 |
293.1% |
£169,124 |
-54.5% |
£371,992 |
|
Net Cashflow before
Financing |
-£675,959 |
-868.7% |
£87,940 |
-66.9% |
£265,347 |
243.6% |
-£184,816 |
-71.8% |
-£107,587 |
|
Net Cashflow from
Financing |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Increase in Cash |
-£675,959 |
-868.7% |
£87,940 |
-66.9% |
£265,347 |
243.6% |
-£184,816 |
-71.8% |
-£107,587 |
|
Date Of Accounts |
30/06/13 |
(%) |
30/06/12 |
(%) |
30/06/11 |
(%) |
30/06/10 |
(%) |
30/06/09 |
|
Contingent
Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital Employed |
£3,109,132 |
13.9% |
£2,729,169 |
-9.1% |
£3,004,018 |
6.6% |
£2,818,249 |
-0.1% |
£2,819,947 |
|
Number of
Employees |
15 |
7.1% |
14 |
7.7% |
13 |
18.2% |
11 |
- |
11 |
|
Auditors |
BAKER TILLY AUDIT
LIMITED |
|
Auditor Comments |
The audit report
contains no adverse comments |
|
Bankers |
HSBC BANK PLC |
|
Bank Branch Code |
40-46-13 |
|
Date Of Accounts |
30/06/13 |
30/06/12 |
30/06/11 |
30/06/10 |
30/06/09 |
|
Pre-tax profit
margin % |
7.49 |
0.41 |
6.61 |
4.20 |
3.51 |
|
Current ratio |
2.20 |
1.90 |
2.23 |
2.19 |
2.60 |
|
Sales/Net Working
Capital |
3.82 |
4.13 |
3.28 |
3.33 |
2.51 |
|
Gearing % |
0 |
0 |
0 |
0 |
0 |
|
Equity in % |
54.80 |
47.70 |
55.40 |
54.70 |
61.90 |
|
Creditor Days |
45.18 |
65.47 |
48.21 |
47.62 |
52.21 |
|
Debtor Days |
71.20 |
63.91 |
61.41 |
64.69 |
81.94 |
|
Liquidity/Acid
Test |
1.02 |
0.99 |
1.04 |
0.97 |
1.36 |
|
Return On Capital
Employed % |
28.37 |
1.68 |
21.45 |
13.81 |
8.69 |
|
Return On Total
Assets Employed % |
15.55 |
0.80 |
11.87 |
7.55 |
5.37 |
|
Current Debt
Ratio |
0.82 |
1.09 |
0.80 |
0.82 |
0.61 |
|
Total Debt Ratio |
0.82 |
1.09 |
0.80 |
0.82 |
0.61 |
|
Stock Turnover
Ratio % |
25.68 |
24.46 |
29.30 |
30.67 |
30.63 |
|
Return on Net
Assets Employed % |
28.37 |
1.68 |
21.45 |
13.81 |
8.69 |
|
There are no notes
to display. |
|
No Status History
found |
|
Description |
|
|
23/01/2015 |
Annual Returns |
|
24/01/2014 |
Annual Returns |
|
18/11/2013 |
New Accounts Filed |
|
03/07/2013 |
New Board Member Mr D. Kimberley appointed |
|
03/07/2013 |
New Board Member Mr S.I. Barrows appointed |
|
03/07/2013 |
New Board Member Mr M.J. Barrows appointed |
|
31/01/2013 |
Annual Returns |
|
30/11/2012 |
New Accounts Filed |
|
30/01/2012 |
Annual Returns |
|
13/01/2012 |
New Accounts Filed |
|
13/01/2012 |
New Accounts Filed |
|
28/01/2011 |
Annual Returns |
|
07/01/2011 |
New Accounts Filed |
|
19/02/2010 |
New Accounts Filed |
|
19/02/2010 |
New Accounts Filed |
|
Date |
Previous Name |
|
08/11/1993 |
CLARK DIAMONDS
(BIRMINGHAM) LIMITED |
|
23/10/1984 |
SKYDREAM
MARKETING LIMITED |
|
No writs found |
|
Group |
- |
|
Linkages |
0 companies |
|
Countries |
In 0 countries |
|
Holding Company |
- |
|
Ownership Status |
|
|
Ultimate Holding
Company |
- |
|
|
No group structure
|
Mortgage Type: |
DEBENTURE |
||
|
Date Charge
Created: |
03/09/03 |
||
|
Date Charge
Registered: |
10/09/03 |
||
|
Date Charge
Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s)
Entitled: |
HSBC BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR
TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
FIXED AND FLOATING
CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE
INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT
AND MACHINERY |
||
|
Mortgage Type: |
CHARGE |
||
|
Date Charge
Created: |
16/11/84 |
||
|
Date Charge
Registered: |
23/11/84 |
||
|
Date Charge
Satisfied: |
- |
||
|
Status: |
OUTSTANDING |
||
|
Person(s)
Entitled: |
MIDLAND BANK PLC |
||
|
Amount Secured: |
ALL MONIES DUE OR
TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER |
||
|
Details: |
FIXED &
FLOATING CHARGE OVERALL BOOK & OTHER DEBTS UNDERTAKING AND ALL PROPERTY
AND ASSETS PRESENT AND FUTURE INCLUDING UNCALLED CAPITAL |
||
|
Total Number |
Total Value |
|
|
Trade Creditors |
0 |
- |
|
No Creditor Data |
||
|
Total Number of
Documented Trade |
Total Value of
Documented Trade |
||
|
Trade Debtors |
6 |
£418,369 |
|
|
Company Name |
Amount |
Statement Date |
|
|
365 Diamond
Limited |
£374,882 |
10/06/2014 |
|
|
M & M
Jewellery Limited |
£29,056 |
25/05/2010 |
|
|
Noble Jewellery
Limited |
£6,829 |
25/01/2012 |
|
|
Jeeves The
Jewellers Limited |
£3,939 |
16/09/2013 |
|
|
Dramer Ltd |
£3,521 |
11/05/2012 |
|
|
The Gold
Connection Ltd |
£142 |
08/12/2011 |
|
|
Name |
Current
Directorships |
Previous
Directorships |
|
Mark Coleman
Barrows |
2 |
4 |
|
Roy Nevil Wetton |
2 |
4 |
|
Average Invoice
Value |
£93.64 |
|
|
Invoices
available |
21 |
|
|
Paid |
21 |
|
|
Outstanding |
0 |
|
|
Trade Payment
Data is information that we collect from selected third party partners who
send us information about their whole sales ledger. |
|
Within
Terms |
0-30
Days |
31-60
Days |
61-90
Days |
91+
Days |
|
|
Paid |
21 |
0 |
0 |
0 |
0 |
|
Outstanding |
0 |
0 |
0 |
0 |
0 |
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.66.23 |
|
|
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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.