MIRA
INFORM REPORT
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Report Date : |
19.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SND GEMS, INC. |
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Registered Office : |
1715 Sugarloaf Club Dr, Duluth, GA 30097-7457 |
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Country : |
United States |
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Date of Incorporation : |
5.16.1996 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesale Jewellery |
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 : |
Small Company |
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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: |
SND GEMS, INC. |
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Address: |
1715 Sugarloaf
Club Dr, Duluth, GA
30097-7457, United
States |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (678) 640-2991 NA K616947 Georgia Kalpana Sipani, Chief
Executive Officer |
Date founded: |
5/16/1996 Corporation for Profit N.A. N.A. 3 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesale jewellery |
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BANKS
Bank of America
BUSINESS
Business & Operations:
Snd Gems, Inc. is a private company located in
Duluth, Georgia. Snd Gems, Inc's line of business is wholesaler of 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 directors of the
company are:
Kalpana Sipani, Chief
Executive Officer,
Dham Raj Sipani, Chief
Financial Officer.
They are also two of the
main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Snd Gems, 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 |
410,000 |
RATING
Local credit bureau gave a correct 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
regular basis (monitored during the past 12 months).
The cash is correct.
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 |
Correct Controlled Correct |
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.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)