MIRA INFORM
REPORT
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Report Date : |
30.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SHREE LAXMI JEWELLERY LLC |
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Registered Office : |
Royal Diamond
Building, 2nd Floor, Suite 203, Umer Ibn Al Khattab Street, Al Daghaya,
Deira, P O Box 171759, Dubai |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
05.04.2005 |
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Com. Reg. No.: |
73249, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesaler and retailer of gold, jewellery, loose diamonds and precious stones |
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 : |
No Complaints |
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Litigation : |
Clear |
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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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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 |
SUMMARY
Company Name : SHREE LAXMI JEWELLERY LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 5th April 2005
Commercial Registration Number : 73249,
Trade Licence Number : 567756
Chamber Membership Number : 96147
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Wholesale and retail of gold, jewellery, loose diamonds and precious stones
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sanjay Kumar, Sales Manager
COMPANY NAME
SHREE LAXMI
JEWELLERY LLC
company ADDRESS
Registered & Physical Address
Building :
Street :
Area : Al Daghaya, Deira
PO Box : 171759
Town :
Country :
Telephone : (971-4) 2353112 / 2353117
Facsimile : (971-4) 2522642 / 2353118
Email : dubai@laxmijewel.com
/ dubai@laxmijewellery.com
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Gajira
Rakish Girdalal Indian Managing
Director
·
Mohamed
Ali Rashed Sowalem Al Agtobe Emirati Director
·
Shaker
Redy - Commercial
Manager
·
Sanjay
Kumar - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 5th
April 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 73249,
Trade Licence No. : 567756
(Expires 04/04/2011)
Chamber Member No. : 96147
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Mohamed
Ali Rashed Sowalem Al Agtobe 51%
·
Gajira
Rakish Girdalal 49%
AFFILIATED COMPANIES
·
Laxmi
Jewellery Export Pvt Ltd
Mumbai
OPERATIONS
Activities: Engaged in the wholesale and retail of
gold, jewellery, loose diamonds and precious stones.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 5 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/08: Year
Ending 31/12/09:
Total Sales UAE Dh 13,550,000 UAE Dh 14,700,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Sanjay Kumar, Sales Manager
BANKERS
·
Emirates
Bank International Ltd
Deira
PO Box: 2923
Tel: (971-4) 2256256 / 2256900
Fax: (971-4) 2268005 / 2267718
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.67 |
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|
1 |
Rs.71.63 |
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Euro |
1 |
Rs.63.09 |
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 |
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.