MIRA
INFORM REPORT
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Report Date : |
22.03.2011 |
IDENTIFICATION DETAILS
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Name : |
ROYAL DIAMONDS CO LTD |
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Registered Office : |
Shimada Bldg 3F, 3-34-5 Taito Taitoku |
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Country : |
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Financials (as on) : |
31.05.2010 |
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Date of Incorporation : |
March
1998 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import, wholesale of diamonds, jewelry |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
company Name and address
ROYAL DIAMONDS CO LTD
REGD NAME: Royal
Diamonds YK
MAIN OFFICE: Shimada
Bldg 3F, 3-34-5 Taito Taitoku
Tel: 03-3839-6005
URL: N/A
ACTIVITIES
Import, wholesale
of diamonds, jewelry
BRANCHES
Nil
FACTORIES
(subcontracted)
OFFICER(S)
BAVESH SHAH, PRES
(Indian resident)
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 800 M
PAYMENTS REGULAR CAPITAL Yen
130 M
TREND SLOW WORTH Yen
153 M
STARTED 1998 EMPLOYES 10
COMMENT
IMPORTER AND
WHOLESALER SPECIALIZING IN DIAMONDS
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS
HIGHLIGHTS
The subject company
was established by Bavesh Shah, an Indian resident, in order to make most of
his experience in the subject line of business.
This is a trading firm specializing in importing and wholesaling
diamonds and diamond jewelry. Goods are
imported from
FINANCIAL INFORMATION
Financials are
only partially disclosed. The net
profits are not disclosed and they are only estimated.
The sales volume
for May/2010 fiscal term amounted to Yen 800 million, a 36% sharp down from Yen
1,250 million in the previous term, as affected substantially by the global
economic downturn. Consumer spending was
sluggish and down pressed, particularly for luxuries and things that are not
for immediate needs. High priced jewels
were averted. High Yen hurt
import/export revenues in Yen terms. The
net profit is believed declined to a minimum amount post-taxes, compared with
Yen 3 million a year ago. .
For the current
term ending May 2011 the net profit is projected at Yen 1 million, on a 4% rise
in turnover, to Yen 830 million.
Consumer spending is still sluggish, but in some areas there is seen
demand is recovering. High Yen continues
to hurt income in Yen terms.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements.
REGISTRATION
Date Registered: Mar 1998
Legal Status: Private Limited Company
(Yugen Kaisha)
Regd Capital: Yen 130 million
Major
shareholders (%): Bavesh Shah (100)
Nothing
detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and
wholesales diamonds & jewelry (--100%)
Clients: [Jewel
processors, jewelers] Sanghavi Jewellery Tokyo, Kyocera Corp, other
No. of accounts:
300
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Imports from
Payment record: Regular
Location: Business area in
Bank References:
SMBC (Asakusa)
Mizuho Bank (Ueno)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
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31/05/2011 |
31/05/2010 |
31/05/2009 |
31/05/2008 |
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Annual
Sales |
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830 |
800 |
1,250 |
1,300 |
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Recur.
Profit |
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Net
Profit |
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1 |
0 |
3 |
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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153 |
153 |
150 |
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Capital,
Paid-Up |
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130 |
130 |
130 |
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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 |
3.75 |
-36.00 |
-3.85 |
-16.07 |
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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 |
0.12 |
0.00 |
0.24 |
0.38 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 31/05/2011fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.05 |
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1 |
Rs.73.05 |
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Euro |
1 |
Rs.63.81 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.