Suashish Diamonds has received an approval for the proposed amalgamation of Suashish Jewelry India, a wholly owned subsidiary of the company, with the company. The company has received an approval for amalgamation at its board meeting held on July 05, 2011. The amalgamation would be subject to the approvals of all requisite authorities and High Court of Bombay.
Recently, Credit rating agency, CARE had assigned ‘A-’ rating to Rs 525 crore long term bank facilities of Suashish Diamonds. The rating derives strength from the long and established track record of the company. The rating was further strengthened by the low working capital cycle and strong liquidity considering negative adjusted net debt position.
The business of Suashish Diamonds can be grouped under two segments - Studded Jewellery (11% of revenues in FY10) and Diamonds (89% of revenues in FY10). Exports form majority of the company’s revenues (about 84% in FY10) which are mainly to Hong Kong, UAE, Belgium and USA.
Company Name | CMP |
---|---|
Titan Co | 3589.15 |
Kalyan Jewell.India | 414.95 |
Rajesh Exports | 318.35 |
Sagar Diamonds | 32.00 |
Senco Gold | 941.40 |
View more.. |