MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
K R GEMS & DIAMONDS INTERNATIONAL INC. |
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Registered Office : |
550 S Hill Street, Suite 1490, Los Angeles, CA 90013 |
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Country : |
United States |
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Date of Incorporation : |
04.08.1987 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesaler of Jewelry and
Precious Stones |
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: |
K R Gems
& Diamonds International Inc. |
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Address: |
550 S Hill
Street, Suite 1490, Los Angeles,
CA 90013, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (213) 627-2888 + 1 (213) 627-6636 C1404094 California Kalpesh Jhaveri, President |
Date founded: |
04/08/1987
Corporation for Profit N.A. N.A. 7
employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesales jewelry and precious stones. |
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BANKS
Bancwest
BUSINESS
Business & Operations:
K R Gems & Diamonds International
Inc. is a private company located in Los Angeles, California.
K R Gems & Diamonds
International Inc. is a wholesaler of jewellery and precious stones.
This is a pretty small
company well established on market.
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 director of the company
is:
Kalpesh Jhaveri, President.
He is also among the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company, K R
Gems & Diamonds International 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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1,780,000 |
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Operating
Profit |
376,000 |
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Net
Income |
297,000 |
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Net
Worth |
500,000 |
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Liabilities |
60,000 |
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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
good 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 40
days basis.
The cash is large.
Our final opinion:
This is a small company
worldwide.
The company presents very satisfying
financial figures comparing to its size.
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 |
Large Controlled Large |
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.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
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%)