MIRA INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHRI GEMS LTD |
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Registered Office : |
Bian Okachimachi Bldg 305, 3-17-9 Taito Taitoku Tokyo 110-0016 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
April, 1999 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Import, Wholesale of Polished Diamonds, Jewelry
Products |
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 |
Name
SHRI GEMS LTD
REGD NAME
YK Shri Gems
MAIN OFFICE
Bian Okachimachi Bldg 305, 3-17-9 Taito Taitoku Tokyo 110-0016 JAPAN
Tel: 03-3839-5991 Fax:
03-3839-59992
URL: N/A
ACTIVITIES
Import, wholesale of polished diamonds, jewelry products
BRANCHES
Nil
FACTORY(IES)
(Subcontracted)
OFFICERS
SHRIKANT SHAM, PRES (Indian resident)
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 530 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND STEADY WORTH Yen 39 M
STARTED 1999 EMPLOYES 5
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN
POLISHED DIAMONDS. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Shrikant Shah, Indian
resident businessman, in order to make most of his experience in the subject line
of business, utilizing his business networks in India. This is a trading firm
specializing in import and wholesale of polished, precut diamonds and diamond jewelry, from
India exclusively. Diamonds are
partially subcontracted mfg to local jewelry processors into jewelry products.
Clients are local jewelry processors, jewelry stores, other.
FINANCIAL INFORMATION
The subject firm
does not release its financial details and the following figures have been
provided from outside sources. And
partially based on phone conversation with the owner and figures are not too
far apart from the real results.
The sales volume
for Dec/2007 fiscal term amounted to Yen 530 million, an 18% up from Yen 450
million in the previous term. Client’s
networks expanded. The net profit was
posted at Yen 11 million, up from Yen 10 million a year ago.
For the current
term ending Dec 2008 the net profit is projected at Yen 12 million, on a 4%
rise in turnover, to Yen 550 million.
Business continues on the upswing.
Material prices hiked.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements.
REGISTRATION
Date Registered: Apr 1999
Legal Status: Private
Limited Company (Yugen Gaisha)
Regd Capital: Yen
3 million
Major
shareholders (%): Shrikant Shah (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and
wholesales polished, precut diamonds, and jewelry products, all from India
(--100%).
Stones are partially subcontracted mfg to local processors into jewelry
products.
Clients
Jewelry processors, jewelry wholesalers, jewelry stores, other.
No. of accounts: 200
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from India exclusively.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
Asahi Shinkin Bank (Ueno)
Relations: Satisfactory.
FINANCES: (In Million
Yen)
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Terms Ending: |
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31/12/2008 |
31/12/2007 |
31/12/2006 |
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Annual
Sales |
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550 |
530 |
450 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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12 |
11 |
10 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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40 |
29 |
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Capital,
Paid-Up |
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3 |
3 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.77 |
17.77 |
12.50 |
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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 |
2.18 |
2.20 |
2.22 |
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Notes: Financials are not disclosed and the above figures have been
provided from outside sources.
Forecast (or estimated) for the 31/12/2008 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.42.47 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
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%)