Asian Star Company Share price

Asian Star Company was registered as a partnership firm in1971 by the Shah family and Kothari family. In 1990 inview of the growing business both families mutually agreedto amicably separate the business and continue theirbusiness in diamonds. The Kothari family continued businessunder the name of R D. Kothari & Co. and Asian Star Companycame under the control of Shah family. Asian Star Companyhas since established itself as a diamond processor engagedin the import of rough diamonds and the export of cut andpolished diamonds. In four years it has secured 31stposition of among the too 100 exporters (10th position inthe diamond industry) in India for the year 1994-95according to the report by Federation of Indian ExportOrganisation New Delhi dated September 18 1995. InMarch 1995 the firm changed its status from a partnershipfirm to a public limited company by registering itselfunder Part IX of the Act. The Company has been asightholder of Diamond Trading Company (DTC) since 1973.After the separation of the business in 1990 from theKothori family the Company lost its DTC sightholderstatus. This is a common practice followed by the DTC whena change occurs in the management and status of sightholdercompany. However in January 1993 on the basis of theCompany''s performance DTC reconfirmed the Company as a''Sightholder''. PRESENT BUSINESS OF THE COMPANY The Company''s main activities are importing rough diamondscutting and polishing them and exporting of cut andpolished diamonds. The Company is carrying out itsprocessing activities from its facilities at GoregaonMumbai; Mandvi and Gopipura in Surat & Thala (Chikhli) inGujarat. It also gets work done on a job work basis fromcontractors in Mumbai and Surat.The total processing capacity per annum of the Company forthe year ended March 31 1995 are as below: Manufacturing Job-Work TotalPieces (Approx.) 455000 4645000 5100000Rough Carats 71000 440000 511000Polished Carats 23100 132100 155200The Company has four offices in Mumbai which apart fromserving as the corporate and administrative offices arealso utilised to carry out activities of assortment andmarketing of diamonds. Three of these offices have beenacquired on a rough diamonds gems and precious stones andto act as Government recognised Trading House Company.