MIRA
INFORM REPORT
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Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
VISHAL DIAMONDS INC. |
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Registered Office : |
550 S Hill Street Suite 1250
Los Angeles CA 90013 |
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Country : |
United States |
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Date of Incorporation : |
31.08.1987 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales Precious
Stones and Jewellery |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
VISHAL DIAMONDS INC. |
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Address: |
550 S Hill
Street Suite 1250 Los Angeles CA
90013 USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (213) 624-9702 NA C1416723 California Vijay Masani, President |
Date founded: |
Aug 31, 1987
Corporation for Profit N.A. N.A. 5 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesales precious stones and jewellery |
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BANKS
Leumi Bank
Citibank
BUSINESS
Business & Operations:
Vishal Diamonds Inc. is a private company located in Los Angeles, California.
Vishal Diamonds Inc's line of business is wholesaler of precious stones and
jewelry.
Industry Overview:
The US jewelry industry generates annual revenues of about $25 billion from
30,000 specialty stores. Large companies include Zale, Tiffany, and Sterling
Jewelers. The industry is fragmented: the top 50 jewelry chains hold less than
half of the market.
Jewelry sales depend partly on consumer income. Small jewelers can
effectively compete with large chains because price isn't the main factor
determining sales.
Profitability depends on merchandising and effective marketing. Average
industry revenue per worker is about $160,000.
Jewelry is also sold in department and discount stores, and by mass
merchants. Because regular gross margins are very high, often 50 percent, mass
merchants have been able to cut prices and take market share. Wal-Mart is the
largest jewelry retailer in the US.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Vijay Masani, President.
He is also one of the main
shareholders
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Vishal Diamonds Inc. does not publish any
financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
16,300,000 |
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Operating Profit |
4,300,000 |
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Net Income |
3,700,000 |
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Net Worth |
7,000,000 |
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Liabilities |
300,000 |
LEGALS
1 Suit in 2004 by J & R
Diamond Enhansed. Reason: NA Amount:
$5,000
1 Judgment in 2004 in
favour of J & R Diamond Enhansed
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
0 UCC Filings
RATING
Local credit bureau gave a very satisfying credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
Payments are made on a 37
days basis (monitored during the past 12 months).
The cash is large.
Our final opinion:
This is a small company
working
in the US.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Large Controlled Large |
PUBLIC PAYMENTS |
None Regular |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.28 |
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UK Pound |
1 |
Rs.82.79 |
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Euro |
1 |
Rs.65.69 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)