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Report Date : |
19.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ROSY BLUE LTD |
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Registered Office : |
Jewelry Mart 3F, 1-10-6 Higashiueno Taitoku |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
February 1978 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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LINE OF BUSINESS : |
IMPORT, WHOLESALE OF ROUGH DIAMONDS, POLISHED & PRECUT
DIAMONDS |
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No. of Employees : |
40 |
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 : |
No Complaints |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
ROSY BLUE LTD
REGD NAME: KK
Rosy Blue
MAIN OFFICE: Jewelry
Mart 3F, 1-10-6 Higashiueno Taitoku
Tel:
03-3836-7088 Fax: 03-3836-7099
E-Mail address: Tokyo@rosyblue.com
Import, wholesale
of rough diamonds, polished & precut diamonds
Nil
(subcontracted)
ATUL JHAVERI, PRES
(Indian resident)
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,500 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
33 M
TREND UP WORTH Yen 344 M
STARTED 1978 EMPLOYES 40
IMPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS, JAPAN BRANCH OF ROSY
BLUE GROUP, BELGIUM.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was established
originally in 1974 as a marketing office in Japan by Rosy Blue Group, founded
1973 in Belgium as satellite office for B Arunkumar & Co, India, for
procurement of rough & polished diamonds.
The subject firm was incorporated in 1978. The subject specializes in importing and
wholesaling diamonds, from rough to polished & precut ones. Also handles jewelry products. Goods are imported widely from mining
companies in Canada, Russia, S Africa, S America, etc, including those from
group firms in 15 global networks.
Diamonds are subcontracted mfg into fine jewelry products. Clients are major jewelry wholesalers,
jewelry processors, chain stores, other.
Financials are only partially
disclosed.
The sales volume for Dec/2011 fiscal
term is reported amounted to Yen 56,500 million, a 16% up from Yen 5,600
million in the previous term. Price
hikes of diamonds contributed to the sales growth. The net profit was posted at Yen 15 million,
compared with Yen 10 million a year ago.
For the current term ending Dec 2012 the net
profit is projected at Yen 20 million, on a 3% rise in turnover, to Yen 6,700
million.
The financial situation is considered RATHER
WEAK but should be good for MODERATE business engagements.
Date Registered:
Feb 1978
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 2,640 shares
Issued:
660 shares
Sum: Yen 33 million
Major shareholders (%): Rosy Blue
Finance, Atul Jhaveri & relatives (--100)
No. of shareholders: 5
Nothing detrimental
is known as to the commercial morality of executives.
Activities: Imports and
wholesales rough diamonds, polished, precut diamonds (--90%),
fine jewelry, other jewelry products
(--10%).
Partially retails them, too.
Goods are imported from Belgium, Hong Kong, Israel, South Africa, Switz,
India, China, and other group
firms in 15 locations worldwide.
Rough diamonds include: sawables, makeables,
cleavages, industrials, crystals, etc.
Polished diamonds include: stars, full cuts,
melees, pointers, caraters, larger specials, ideal cuts, certificate goods,
princess cuts, fancies
Clients: Local jewelers, jewelry processors, jewelry
mfrs, chain stores, consumers, other
No. of accounts:
500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, mining
firms, wholesalers] Rosy Blue NV (Belgium), Rosy Blue India Pri- vate Ltd (India), DTC (De Beers), BHP
(Australia), Rio Tinto, Alrosa, other from Hong Kong, Israel, South Africa, Switz, India, China, UAE, Russia,
Luxemburg, Sri Lanka, Thailand, USA,
etc.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
SMBC (Ueno)
MUFG (Ueno-Chuo)
Relations:
Satisfactory
(In Million Yen)
|
|
|
31/12/2012 |
31/12/2011 |
31/12/2010 |
31/12/2009 |
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Annual
Sales |
|
6,700 |
6,500 |
5,600 |
6,000 |
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Recur.
Profit |
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Net
Profit |
|
20 |
15 |
10 |
10 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
|
|
344 |
334 |
327 |
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Capital,
Paid-Up |
|
|
33 |
33 |
33 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.08 |
16.07 |
-6.67 |
0.00 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.30 |
0.23 |
0.18 |
0.17 |
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Notes: Financials
are only partially disclosed.
Forecast (or estimated)
figures for the 31/12/2012 fiscal term.
DIAMOND INDUSTRY –
INDIA
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From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of diamonds
but history says that in the remote past, diamonds were mined only in India.
Diamond production in India can be traced back to almost 8th Century
B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.59 |
|
|
1 |
Rs.87.34 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
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 |
-- |
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.