MIRA INFORM REPORT

Report No. :	487516
Report Date :	20.01.2018

IDENTIFICATION DETAILS

Name :	DIAROUGH
Registered Office :	Hoveniersstraat 30, Bus 211, 2018 Antwerpen
Country :	Belgium
Financials (as on) :	2015
Date of Incorporation :	04.02.1975
Legal Form :	Societe Anonyme (Corporation – Profit)
Line of Business :	The Company manufactures, imports, exports, trades fine diamonds, jewelry and related products.
No. of Employees :	22

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
Belgium	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

BELGIUM - ECONOMIC OVERVIEW

Belgium’s central geographic location and highly developed transport network have helped develop a well-diversified economy, with a broad mix of transport, services, manufacturing, and high tech. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. Belgium is 100% reliant on foreign sources of fossil fuels, and the planned closure of its seven nuclear plants by 2025 should increase its dependence on foreign energy. Its role as a regional logistical hub makes its economy vulnerable to shifts in foreign demand, particularly with EU trading partners. Roughly three-quarters of Belgium's trade is with other EU countries.

Belgium’s GDP grew by 1.4% in 2016, unemployment at yearend was 8.4%, and the budget deficit was 2.7% of GDP. The economy largely recovered from the March 2016 terrorist attacks, which mainly impacted the Brussels region tourist and hospitality industry. Prime Minister Charles MICHEL's center-right government has pledged to further reduce the deficit in response to EU pressure to decrease Belgium's high public debt of about 107% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and higher inflation promise to curtail a more robust recovery in private consumption.

The government has pledged to pursue a reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes have generally made Belgian wages more competitive regionally, but risk worsening tensions with trade unions and triggering extended strikes.

Source : CIA

Company Name and Summary

Company name: DIAROUGH

Address: Hoveniersstraat 30, Bus 211, 2018 Antwerpen - Bengium

Telephone: +32 03 234-2424

Fax: +32 03 232 3931

Website: diarough.com

TVA: 0414.865.337

Judicial form: Societe Anonyme (Corporation – Profit)

Date incorporated: February 4, 1975

Stock Value: EUR. 15,190980=

Name of manager: Pradeep TSAKALI

ACTIVITIES & OPERATIONS

IST

Business:

The Company manufactures, imports, exports, trades fine diamonds, jewelry and related products.

Staff: 22

Operations & branches:

At the headquarters, we find a workshop, showroom and office.

SHAREHOLDERS & MANAGERS

Shareholders:

DIAROUGH EUROPEAN SALES

Hoveniersstraat 30, Bus 211, 2018 Antwerpen

Incorporated on 07-15-1996

TVA: 0458.427.938

Management:

Pradeep TAKSALI is the President, Director and CEO.

Nishit PARIKH is Director and represents the parent Company.

Subsidiaries and partnership:

None

FINANCIALS

In USD	2015	2014
Sales	683,528,035	878,268,986
Net profit	469,212	821,003

Banks: HSBC Bank

LEGAL FILINGS

Legal filings & complaints:

As of today date, there is no legal filing pending with the Courts.

Secured debts summary:

None

COMPANY CREDIT HISTORY

Trade references:

Date reported: June 2017

High credit: EUR 15,000

Now owing: 0

Past due: 0

Last purchase: May 2017

Line of business: Office supply

Paying status: On terms

Date reported: June 2017

High credit: EUR 100,000

Now owing: 0

Past due: 0

Last purchase: May 2017

Line of business: Payroll

Paying status: As agreed

Date reported: June 2017

High credit: EUR 280

Now owing: 0

Past due: 0

Last purchase: May 2017

Line of business: Telecommunications

Paying status: On terms

Domestic credit history:

National Credit Bureaus gave a satisfying.

According to our credit analysts, during the last 6 months, domestic payments were made on due date.

Other comments:

The group is present in several Countries including USA, India, Thailand, China, Hong Kong…

The Company maintains its business.

The Company is in good standing.

This means that all taxes were paid on due date.

The risk is low.

Our opinion:

A business connection may be conducted.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.72
UK Pound	1	INR 88.64
Euro	1	INR 78.14
EURO	1	INR 78.03

Note: Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.