Classic Diamonds (India) Ltd - Stock Valuation and Financial Performance

Classic Diamond India was incorporated in 1986. It is an India based diamond manufacturing company whose principal activity is to cut, polish and market fully processed, polished and rough diamonds and gold-studded, jewellery.

Classic Diamond is a fully integrated business, buying rough diamonds from the major mining companies, manufacturing it under its direct control, sorting the polished into regular assortment and finally selling to jewellery manufacturers or its own jewellery manufacturing company.

Classic Diamond has manufacturing facilities at Surat in Gujarat and SEEPZ in Mumbai. The company markets its jewellery through its flagship brand Classic Jewels. Classic Diamond recently forayed into retailing with opening up of retail stores in the national capital region (NCR).

With the annual turnover in excess of $100m, Classic Diamond (India) is one of the leading diamond companies in India. Classic Diamond was converted from partnership to a corporate structure in 1986. It is a listed company on the stock exchanges. It is a recognized sight holders of the Aber Group, customer of Alrosa and other South African mines. It is one of the largest Indian manufacture of Stars (2 pointer) with the monthly output of 2500000 million stones.

Classic Diamonds is a fully integrated business, buying its rough diamonds from the major mining companies, manufacturing it under its own control, sorting and polishing into regular assortment and finally selling it to other jewelers or further using it for jewellery.

All of its diamond is manufactured in its own factories each one has state-of-art technology and is ISO certified.

Its has also established its sales office in the United States, Europe, Japan and Hong Kong, Dubai, Antwerp, Isreal to allow better co-ordination and service.

It serves to a long chain of customers ranging from jewellery manufacturers, wholesalers, independents and the major chain stores.

The company’s factory at Surat is spread over 220,000square feet. It accommodates about 5000 workers and produces about 1,500,000 stones per month.

Subsidiaries

It distributes its diamonds through Classic Diamonds India limited, Aarohi Diamond Inc (USA), Aarohi Diamond Israel limited, Aarohi Diamond Limited (Hong Kong),Ankur Diamonds N.V.(Belgium), Armaan D &DMCC (Dubai).

Milestones achieved

• 1986 -incorporation of Classic Diamonds India
• 1989-90, 1990-91-Received 'Export-Award' from Gem & Jewellery Promotion Council
• 1993- Establishment of first Jewellery factory in Seepz Zone
• 1995- Accorded Sight Holder status by Diamond Trading Company (DTC)
• 1998- Established a diamond cutting factory in Ahmedabad
• 2003 -Acquired major stake in Diamond Direct LLC.
• 2004- Received Excellence Award from State Bank of India for outstanding exports performance. Acquired ISO Certification for its showrooms and factory at Surat. Belgian Government bestowed the title of “A Rider in DE Kroonorde”. Launched first International store in Hong Kong
• 2006- Launched fifth Classic Jewels store in New Delhi. Launched sixth Classic Jewels store in Ludhiana

Recent developments

Classic Diamonds India's Board of Directors at its meeting held on May 15, 2009, has decided to allot 750000 Preferential Warrants to the Promoter.