MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
PAYAL
DIAMOND INC. |
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Registered Office : |
10 West 46th Street Suite 1701, New York, NY 10012 |
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Country : |
United States |
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Date of Incorporation : |
31.07.1998 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesaler of 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: |
Payal Diamond Inc. |
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Address: |
10 West 46th
Street Suite 1701, New York,
NY 10012, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (212) 944-2561 NA 2284722 New York Hitesh Munjani, President |
Date founded: |
July 31, 1998
N.A. N.A. 2
employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesales jewellery. |
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BANKS
Bank of America
BUSINESS
Business & Operations:
Payal Diamond Inc. is a private company located in New York.
The company is specialized
in the wholesaling of jewellery.
Payal Diamond Inc. is working worldwide.
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 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 director of the company
is:
Hitesh Munjani, President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company, Payal
Diamond 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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310,000 |
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LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
0 UCC Filings
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.
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The cash flow is correct.
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Payments are made on a regular basis.
Our final opinion
This is a small company working worldwide.
The company presents correct financial figures.
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 |
No Regular |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.74 |
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UK Pound |
1 |
Rs.85.19 |
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Euro |
1 |
Rs.66.12 |
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%)