MIRA
INFORM REPORT
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Report Date : |
29.12.2008 |
IDENTIFICATION DETAILS
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Name : |
MODI IMPEX CO LTD |
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Registered Office : |
Miyama Bldg 6F, 1-21-1 Higashi-Ueno Taitoku |
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Country : |
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Financials (as on) : |
30.06.2008 |
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Date of Incorporation : |
July 2004 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Diamonds |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
MODI IMPEX CO LTD
REGD NAME: KK
Modi Impex
MAIN OFFICE: Miyama
Bldg 6F, 1-21-1 Higashi-Ueno Taitoku
Tel: 03-3833-5505
Fax: 03-3833-5505
URL: N/A
ACTIVITIES
Import,
wholesale of diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
JAIN
PANKAG, PRES (Indian resident)
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 450 M
PAYMENTS REGULAR CAPITAL Yen 23 M
TREND UP
WORTH Yen 48 M
STARTED 2004 EMPLOYES 2
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS FROM
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was
established by Jain Pankag in order to make most of his experience in the
subject line of business. This is a
trading firm specializing in import, export and wholesale of diamonds and
jewelry products. Diamonds are imported
from
FINANCIAL INFORMATION
Financials are only partially disclosed in rounded-off
numbers.
The sales volume for Jun/2008 fiscal term amounted to Yen
450 million, a 29% sharp rise from Yen 200 million in the previous term. Business expanded with clients networks
increased. Higher diamond prices also
contributed. The net profit remained
similar at Yen 10 million.
For the term ending Jun 2009 the net profit is projected at
Yen 8 million, on a similar turnover, at Yen 450 million. The owner is confident this figures will be
achieved, but in view of the recent financial crisis and depressed consumer
confidence, with consumer spending seen on the downturn, this figures could be
revised downward. Department store sales
are reported down nearly 20% in November from the previous month.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
REGISTRATION
Date Registered: Jul
2004
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 460 shares
Sum: Yen 23 million
Major shareholders (%)
Modi Pankag (100)
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and
wholesales polished diamonds centrally from
Clients
Jewelry
stores, jewelry processors, other.
No. of
accounts: 200
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers
[Mfrs,
wholesalers] Imports from
Payment record:
Regular
Location:
Business area in
Bank References
Asahi
Shinkin Bank (Nishimachi)
Relations:
Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/06/2009 |
30/06/2008 |
30/06/2007 |
30/06/2006 |
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Annual
Sales |
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450 |
450 |
350 |
350 |
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Recur.
Profit |
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Net
Profit |
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8 |
10 |
10 |
10 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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48 |
38 |
28 |
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Capital,
Paid-Up |
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23 |
23 |
23 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
0.00 |
28.57 |
0.00 |
75.00 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
1.78 |
2.22 |
2.86 |
2.86 |
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Note: Financials
are only partially disclosed.
Forecast
(or estimated) for the 30/06/2009 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.76 |
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1 |
Rs.71.68 |
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Euro |
1 |
Rs.69.17 |
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%)