MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
ROYAL DIAMOND CO LTD |
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Registered Office : |
Ohmiya Bldg 2F, 5-13-9 Ueno Taitoku |
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Country : |
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Financials (as on) : |
31.05.2007 |
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Date of Incorporation : |
March 1998 |
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Com. Reg. No.: |
( |
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Legal Form : |
Private Limited Company (Yugen Kaisha) |
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Line of Business : |
Import, Wholesale of 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 : |
-- |
name & address
ROYAL DIAMOND CO
LTD
REGD NAME: Royal
MAIN OFFICE: Ohmiya Bldg 2F, 5-13-9 Ueno Taitoku
Tel: 03-3839-6005
Fax: 03-3839-2237
URL: N/A
ACTIVITIES
Import, wholesale of diamonds
BRANCHES
FACTORY(IES)
(subcontracted)
OFFICERS
NAVNIT MEHTA, PRES
Shah M Davesh, s/mgn dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,549 M
PAYMENTS REGULAR CAPITAL Yen 130 M*
TREND SLOW WORTH Yen 162 M
STARTED 1998 EMPLOYES 10
*
Capital increased in Apr/2007
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Navnit Mehta, a
resident Indian business man, in order to utilize his business networks in the
subject line of business. This is a
trading firm specializing in importing and wholesaling polished diamonds and
other gem stones. Goods are supplied
steadily from Sanghavi Exports,
FINANCIAL INFORMATION
The subject firm does not disclose financials and the
following figures have been provided from outside sources.
The sales volume for May/2007 fiscal term amounted to Yen
1,549 million, an 18% down from Yen 1,890 million in the previous term. Consumer spending remained sluggish for
luxuries. The net profit remained
similar at Yen 5 million. The firm
increased the Capital to Yen 130 million in Apr/2007.
For the term that ended May 2008 the net profit was
projected at Yen 5 million, on a 7% rise in turnover, to Yen 1,650
million. Weaker Yen may have contributed
to the sales growth. Final results have
not been available.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
REGISTRATION
Date
Registered: Mar
1998
Regd
No: (
Legal
Status: Private Limited Company (Yugen Kaisha)
Regd
Capital: Yen
130 million (increased in Apr/2007)
Major
shareholders (%): Navnit Mehta (50), Shah M Davesh (50)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports and wholesales polished diamonds, other gemstones (--100%).
Goods are imported from Sanghavi Exports,
Clients
[Jewelry processors, Jewelers] Kyocera Corp, Nagahori Corp, Gosho Jewel, Sanghavi Jewell, other.
No. of accounts: 200
Domestic areas of activities: Centered in greater-Tokyo,
extending into
Suppliers
[Mfrs, wholesalers]
Imports centrally from Sanghavi Exports Pvt Ltd (
Payment record: Regular
Location:
Business area in
Bank References
SMBC (Asakusa)
Asahi Shinkin Bank (H/O)
Relations: Satisfactory.
FINANCES: (In Million Yen)
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Terms Ending: |
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31/05/2008 |
31/05/2007 |
31/05/2006 |
31/05/2005 |
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Annual
Sales |
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1,650 |
1,549 |
1,890 |
1,900 |
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Recur.
Profit |
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Net
Profit |
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5 |
5 |
5 |
5 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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162 |
27 |
22 |
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Capital,
Paid-Up |
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130 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.52 |
-18.04 |
-0.53 |
35.71 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.30 |
0.32 |
0.26 |
0.26 |
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Note: Financials are not openly disclosed, and these figures
have been provided from outside sources.
Also partially collected from the treasurer.
Forecast (or estimated) for the 31/05/2008 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.29 |
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1 |
Rs.80.40 |
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Euro |
1 |
Rs.63.35 |
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%)