Background

Asian Star Company Ltd (Asian Star), established as a partnership firm in 1971, is involved in cutting and polishing of diamonds and manufacturing of jewellery. It was listed on the Bombay Stock Exchange (BSE) in 1996. In 2001, it ventured into manufacturing of jewellery. As on March 31, 2009, Asian Star Co. had a market capitalisation of Rs. 11.6 bn. The company operates in the diamond and jewellery segment.

Company Profile

Asian Star Co’s business comprises of diamond manufacturing, jewellery manufacturing and retailing. It manufactures and markets gold and platinum diamond studded jewellery like rings, earrings, pendants, bracelets, bangles, necklaces etc for the domestic and international market. In May 2008, the company launched its first jewellery store 'Shagun Jewels' at Hyderabad

and also plans to expand its retail presence in other Indian cities. The company has two manufacturing units, one in Mumbai and in Surat. The unit in Surat is a technologically advanced manufacturing set-up which measures about 65,000 sq ft. The company employs over 1700 professionals & skilled workers. Asian Star has a strong global presence with 23 marketing arms spread across 3 continents - Asia, Europe and North America including two wholly owned subsidiaries in New York, USA and in Dubai, UAE.

The company registered revenue of Rs 125.4 bn in FY09. For the third quarter ended Dec 09, the company posted a 7.12% (y-o-y) rise in net revenues to Rs 3.15 bn. Asian Star is also engaged in wind power generation and operates three windmills in Maharashtra, Kerala and Tamil Nadu respectively with total installed capacity of 4,300 KW. The company has a global presence in Canada, US, Belgium, China, UAE, Hongkong, Malaysia, Thailand and Singapore.