Asian Star Company Ltd Company History

Asian Star Company was registered as a partnership firm in by the

Shah family and Kothari family. The Promoters of the Company are the

partners of the erstwhile firm, Asian Star Company and hail from North

Gujarat.

The company has processing facilities at Thala, Mandvi and Goregaon

which have been taken on a leave and license basis from associate

firms/group companies.

The Company's main activities are importing rough diamonds, cutting

and polishing them and exporting of cut and polished diamonds. The

Company is carrying out its processing activities from its facilities

at Goregaon, Mumbai; Mandvi and Gopipura in Surat & Thala (Chikhli) in

Gujarat. It also gets work done on a job work basis from contractors

in Mumbai and Surat.

In view of the growing business, both families mutually agreed to

amicably separate the business and continue their business in diamonds.

The Kothari family continued business under the name of P. D. Kothari

& Co. and Asian Star Company has since established itself as a diamond

processor engaged in the import of rough diamonds and the export of cut

and polished diamonds.

The Company has obtained NOC/Clearance Orders from the Pollution

Control Board of Gujarat for the Surat facility vide registration No.

3500, dated 4th October, from the Mandvi Gram Panchayat for the

facility at Mandvi.

The Company is Two Times Award winder for highest exports from Gem

and Jewellery Export Promotion Council under the Non-DTC category for

the year 1991-92 and 1992-93.

The Company is a recipient of National Export Award and Certificates

of Merit from Ministry of Commerce for highest growth in exports in the

year 1991-92 and 1993-94 respectively.

However in January, on the basis of the Company's performance, DTC

reconfirmed the Company as a "Sightholder".

In four year it has secured 31st position of among the top 100

exporters (10th position in the diamond industry) in India for the year

according to the report by Federation of Indian Export Organisation,

New Delhi, dated September 18, 1995.

The Company is formed by registration of the Partnership firm

previously known as Asian Star Company into a Limited Company under

Part IX of the Act on March 2, and was granted Certificate of

Commencement on 7th March.

The Company has entered into contract with M/s. Rahil Agencies to

process rough diamonds at its factories situated at Goregaon, Chikhli

(Valsad) and Mandvi (Surat) as per agreements dated 1st February, for a

period of five years.

The Company was registered as a public limited company under part IX

of the Companies Act on 2nd March.

The Company entered the Capital Market with a Maiden Public Issue of

26,70,000 equity shares of Rs. 10/- each at a premium of Rs. 65/- per

share, which was opened for Public subscription on 13th May.

Indian Diamond Industry had witnessed a bad patch during last year as

a result of uncertain market conditions created by breaking up of

single channel supply, excessive supply in open market, high rate of

interest on Post Shipment finance by Banks.

The Branch office of the Company at Hong Kong and New York was closed

during the year. With due approval of RBI and Government of India a

wholly owned Subsidiary Company under the name of ASIAN STAR COMPANY

LIMITED with a paid-up capital of US$ 500000/- (Rs. 17875000/- approx.)

was incorporated at New York, U.S.A.

1,06,71,200 No. of Equity Shares of Rs. 10/- each of the Company

listed on Ahmedabad Stock Exchange be delisted on and from 1st April

1999.

The Company needs additional funds to meet the working capital it is

therefore proposed to increase the limits as stipulated in the

resolution.

During the year under review Indian Diamond Industry has witnessed a

modest rise of 6% over the previous year despite the recession in most

consuming centers as well as financial crisis in the Far East

Countries.

The company has been awarded ISO : 9002 certification by RWTUV,

ESSEN, West Germany.

Asian Star has recommended a dividend of Rs 4 per share including a special dividend of Rs 2 per share

Asian Star sets up a plant for manufacturing Jewellery

Asian Star has recommended dividend of Rs. 2 per share.

Asian Star Company has recommended Dividend of Rs 2 per share

Asian Star has recommended dividend Rs 2 per share on equity shares of Rs 10/- each.

Asian Star has acquired 100% shares of a Company named "Inter Gems DMCC" situated at Dubai, U A E.

The Company has launched its first jewellery retail outlet named "Shagun Jewels" at Hyderabad.

Mr. Milind Gandhi has been appointed as Additional Director of the Company

Asian Star has proposed dividend on equity at Rs 2/- per share

Asian Star has recommended Dividend of Rs 2/- per share

Asian Star Company has incorporated a Wholly Owned Subsidiary (WOS) in HongKong in the name of Asian Star Trading (Hong Kong) Limited to expand the business of Diamonds and Jewellery in that region.

The Company has recommended Dividend of Rs. 2/- per share

Asian Star has recommended Dividend of Rs. 1.50 (i.e. 15%) per share of Rs. 10/- each

Asian Star has recommended issue of Bonus Shares for the approval of shareholders in the ratio of 1:2

Board recommended a Dividend of Rs. 1.50 (i.e. 15%) per share of Rs. 10/- each

Board recommended a Dividend of Rs. 1.50 (i.e. 15%) per share of Rs. 10/- each

One amongst few to receive Strategic Supply from De Beers.

Approved Manufacturer of CanadaMark and Australian Diamonds.

Ranked 476 in the "Top 500 Corporations of India" in 2019 by Fortune India.

Awarded Certificate of Design Excellence by the Artisan Design Jewellery Awards 2021 as winner under Victorian Jewellery Category.

Ranked 359 in "India's Top 500 Companies" by Dun and Bradstreet.

Approved Programme Participant of De Beers Code of Origin.