MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
LOTUS COLORS INC. |
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Registered
Office : |
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Country : |
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Date of
Incorporation : |
08.09.2004 |
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Legal Form : |
Corporation for Profit |
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Line of Business
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Manufactures Color Enhanced Diamonds. |
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: |
LOTUS COLORS INC. |
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Address: |
576 5th Avenue,
Suite 1104, New York,
NY 10036, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (212) 730-4323 + 1 (212) 730-8730 3088075 New York Nilesh Jain, President |
Date founded: |
08/09/2004
Corporation for Profit N.A. N.A. 3
employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Manufactures color enhanced diamonds. |
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BANKS
Bank of America
BUSINESS
Business & Operations:
Lotus Colors Inc. is a private company located in New York.
The business has
sisters’ company in Japan, Thailand and Mumbai.
The Lotus group of
companies has a long history in the precious gemstones trade. Their previous
experience with both colored stones and white diamonds has given them the
knowledge they needed.
Lotus’s history
begins with Rajendra Enterprises, a company based in Mumbai, India. It was
founded in the 1970’s as a natural colored gemstone manufacturer and
distributor.
In 1982, Rajendra
Enterprises turned to the manufacturing and sales of white diamonds, in time
becoming one of the first businesses to successfully sell Indian white diamonds
in the United States.
In 1994, they took
on the challenge of manufacturing and distributing color enhanced diamonds, and
this has been their core business ever since.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company is:
Nilesh Jain, President.
He is also one of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS AND FORECAST
As a private company Lotus Colors 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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130,000 |
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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 with worldwide connections.
The company presents small sales.
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.48.83 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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%)