Shukra Jewellery Ltd. Company History and Annual Growth Details

SHUKRA DIAMOND EXPORTS LIMITED (SDEL) in a short span of two years has achieved significant corporate and business milestones which have enabled the company to develop inherent strengths and look ahead with optimism.

Shukra Diamond Exports Ltd. was incorporated as a Public Limited Company on 13th December, 1991 in the State of Maharashtra with Registrar of Companies at Bombay. The Company obtained its certificate to commence business on 24th February, 1992. The company is engaged in cutting and Polishing and exports of Polished Diamonds to various countries like U.S.A,Japan, Belgium, Hongkong, Thailand, Singapore and Switzerland.The company has set up a diamond cutting and polishing unit at Ruby Industrial Estate, Vasai, District Thane, Maharashtra.

The company made a public issue of 24 lacs Equity shares of Rs.10/- each for cash at par aggregating Rs.240 lacs in February, 1993, to part finance the project of diamond cutting and polishing unit and to meet long term requirements of working capital. The paid up Equity Share Capital of the Company is Rs.340 lacs, divided into 3,40,000 Equity shares of Rs.10/- each. The Equity Shares of the company are listed at the Bombay, Delhi, Baroda and Ahmedabad Stock Exchanges.

PROMISES VIS PERFORMANCE

A comparison of the projections made in the Prospectus of the Company dated 7th January, 1993 and the actual performance for the year ended 31st March,1994 is given below:

(Rs.in Lacs)

1993-94 1993-94
[Actual] [Projected
as per
prospectus)

Sales (Exports) 812.69 800.00
(Local) - -
Other Income 6.70 -
Profit before interest
Depreciation and Taxation 219.69 75.00
Interest 1.91 -

Depreciation 2.18 3.00
Profit before taxation 215.60 72.00
Profit after taxation 215.60 72.00
Paid-up capital 324.38 340.00
Dividend 20% 10%
Earning per share 6.34 2.20
Book value (in Rs.) 13.71 11.20

DETAILS OF INVESTORS COMPLAINTS

No. of Complaints received 1546
No. of Complaints resolved 1520
No. of Complaints pending 26

Nature of Complaints :

Endorse of allotment money and non-receipt of Share Certificate etc.

SUBSIDIARY OF THE COMPANY

The Company has no subsidiaries.

In the year 1996-97, in accordance with the resolutions passed in the last Annual General Meeting of the Company, the name of the Company has been changed to SHUKRA JEWELLERY LIMITED. Also the Company's registered office has been shifted to its factory premises situate at Daman. This being the backward area, the Company will enjoy 100% tax holiday for the next five years.

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