Asian Star Company Limited
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BSE Code:
531847
NSE Code:
ASTAR
Business Profile
Business Profile
Asian Star Company was established in 1971 and is headquartered in Mumbai. The company is primarily into the import of rough diamonds and export of cut and polished diamonds. The company has its processing facilities at Goregaon in Mumbai, Mandvi and Gopipura in Surat and Thala (Chikhli) in Gujarat. Internationally, Asian Star has a manufacturing set-up at Shanghai in China and Antwerp in Belgium. The company has marketing arms and subsidiaries across US and Canada, Europe, Middle East and Asia. Asian Star`s important markets are USA, Belgium, Japan, Hong Kong, UK, Israel, Switzerland, UAE, Singapore, France and Korea. Jewel Art, a group company of Asian Star, caters exclusively to the international markets. Jewel Art has its manufacturing operations spread over 18,000 sq. ft. at SEEPZ in Mumbai with a production capacity of 240,000 pieces per annum.
A`Star Jewellery is a group company catering to major retailers and retail chains in the domestic and Indian markets. A`Star Jewellery has a production capacity of 150,000 pieces per annum.
Financials
Asian Star Company registered a steep drop of 29.05% in net profits to Rs 62.49 million for the quarter ended March, 2007 from a profit of Rs 88.07 million for the quarter ended March, 2006. Net Sales for the quarter rose 6.21% to Rs 3408.46 million for the quarter ended March, 2007 from Rs 3209.20 million for the quarter ended March, 2006. Total income rose 6.68% to Rs 3424.8 million for the quarter ended March, 2007, from Rs 3210.33 million for the quarter ended March, 2006. The earnings per share (EPS) of the company stood at Rs 5.86 in the quarter ended March, 2007.
Recent Developments
09-MAY-07
Asian Star has withdrawn from the joint venture (JV) agreement with Peacock Jewellery and agreed to sell its entire shareholding of 49.75% in Carbon Accessories (a JV company) to Peacock Jewellery.