MIRA
INFORM REPORT
|
Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HETAL DIAMONDS
INC. |
|
|
|
|
Registered Office : |
20 E 46th St Rm 1201, New York, NY 10017-9246 |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
26.06.1998 |
|
|
|
|
Legal Form : |
Corporation for Profit |
|
|
|
|
Line of Business : |
Wholesaler of Diamonds
and Jewellery |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
REQUIRED CREDIT |
|
MAXIMUM |
GEOPOLITICS
|
POLITICAL DATA |
ECONOMIC DATA |
||
|
FORM OF GOVERNMENT ECONOMIC RISK |
Federal
|
CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
|
Company Name: |
HETAL
DIAMONDS INC. |
||
|
Address: |
20 E 46th St Rm 1201,
New York, NY
10017-9246, United
States |
||
|
Phone: Facsimile: ID: State: Managers: |
+ 1 (212) 944-8144 NA 2273360 New York Rajesh Shah, President |
Date founded: |
June 26, 1998 Corporation for Profit N.A. 6 employees |
|
Legal form: |
|||
|
Stock: |
|||
|
Staff: |
|||
|
Business: |
Wholesaler of diamonds and jewellery |
||
BANKS
Bank of America
BUSINESS
Business & Operations:
Hetal Diamonds Inc. is a private company located in New York. Hetal Diamonds
Inc's line of business is wholesaler of diamonds and jewellery.
Industry Overview:
The US jewelry retail 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 often classified as bridal merchandise (engagement, bridal
and anniversary rings - about 35 percent of the market); fashion jewelry
(rings, bracelets, earrings, pins, gold chains); and watches, silver flatware,
and other giftware. Diamond jewelry and loose diamonds account for the largest
share of total jewelry store sales (46 percent); gold jewelry for 11 percent;
colored gemstone jewelry (rubies, sapphires, emeralds, etc.) 9 percent; and
watches 4 percent.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
director of the company is:
Rajesh
Shah, President.
He
is also one of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Hetal Diamonds Inc. does not publish any financial statement.
However
our financial sources could provide us with the following information:
|
Fiscal Year In USD |
12/31/2007 |
|
Turnover |
1,200,000 |
There are no legal fillings listed with the District Court.
There is no active UCC file listed with the Secretary of State of New York.
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 worldwide.
A credit line may be considered.
SUMMARY
|
FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
||
|
PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
None Regular |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.79 |
|
UK Pound |
1 |
Rs.85.04 |
|
Euro |
1 |
Rs.67.39 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)