MIRA
INFORM REPORT
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Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHREE CREATIONS INC |
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Registered Office : |
15 W 47th Street, Suite 1202, New York, NY 10036 |
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Country : |
United States |
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Date of Incorporation : |
15.09.1997 |
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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 : |
Satisfactory |
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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: |
Shree Creations Inc. Dba SCI |
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Address: |
15 W 47th
Street, Suite 1202, New York,
NY 10036, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (212) 869-2702 NA 2180354 New York Darshan Jariwala, President |
Date founded: |
Sept 15,
1997
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
JP Morgan Chase Bank
BUSINESS
Business & Operations:
Shree Creations Inc. also does business as Sci.
Shree Creations Inc. is a private company located in New York. Sci's
line of business is wholesaler of precious stones and jewelry.
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.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Darshan Jariwala,
President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company, Shree
Creations Inc. does not publish any financials.
However our source provide us with the following information :
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Fiscal Year USD |
12/31/2007 |
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Turnover
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720,000 |
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LEGALS
0 Suits
0 Judgments
3 Liens in 2006 by NYS Tax
Board. Reason State Tax Total Amount $2,176
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2007 by JP
Morgan Chase Bank securing Inventory.
Amount: NA
All previous UCC Filings
have been cleared
RATING
Local credit bureau gave a
correct credit rate.
The Company is in “good
standing”.
This means only that all
local and federal taxes were paid on due date.
Payments are made on a
regular basis.
The cash is correct.
Our final opinion:
This is small business
working in the US.
The company presents
acceptable financial figures.
A credit line may be
considered.
A business connection may
be conducted.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See above Regular |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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%)