MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
S & S JEWELRY CORP. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
02.12.1993 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales 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: |
S & S
Jewelry Corp. |
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Address: |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (212)
593-2750 NA 1717740 Mehul Shah,
President |
Date founded: |
02/12/1993 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
HSBC Bank
BUSINESS
Industry Overview:
S & S Jewelry Corp. is
a private company located in
S & S Jewelry Corp's line
of business is a wholesaler of jewelry and precious stones.
The company is pretty well
established on market.
The company is located at
the same location with the company Shivani diamonds.
Industry Overview:
The
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
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Mehul Shah, President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company S
& S Jewelry Corp. 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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3,800,000 |
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Operating
Profit |
564,000 |
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Net
Income |
490,000 |
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Net
Worth |
1,000,000 |
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Liabilities |
200,000 |
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LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
2 UCC Filings in 2005 by
HSBC Bank
RATING
Local credit bureau gave a good 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 Large.
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Payments are made on a 38 days basis.
Our final opinion
This is a small Company working on the global market.
The company presents very satisfying financial figures compared to its
size.
A credit line may be considered.
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.48.83 |
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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%)