MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CHEMICAL AND FRAGRANCE CORPORATION |
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Registered Office : |
D-16, Minerva Premises, 2nd Floor, Bunder, Mumbai-400015, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1981 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC14244G |
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PAN No.: [Permanent
Account No.] |
AAAFC4840Q |
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Legal Form : |
Partnership Concern with an unlimited liability of the partner |
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Line of Business : |
Trader, Exporter, Importer of essential Oils, Fruit Oils, Speciality
Chemicals, Incense sticks, Fragrances, Aroma Chemicals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD2400 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small and established concern having steady business.
Trade relations are fair. General financial position is satisfactory.
Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
D-16, Minerva Premises, 2nd Floor, Bunder, Mumbai-400015, |
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Tel. No.: |
91-22-24100888/ 24172039 |
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Fax No.: |
91-22-24172039 |
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E-Mail : |
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Area : |
750sq.ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. B. N. Hemani |
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Designation : |
Partner |
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Date of Birth/Age : |
64 years |
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Qualification : |
Graduate |
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Experience : |
40 years |
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Name : |
Mr. J. B. Hemani |
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Designation : |
Partner |
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Date of Birth/Age : |
32 years |
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Qualification : |
Post Graduate |
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Experience : |
8 years |
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Name : |
Mr. M. B. Hemani |
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Designation : |
Partner |
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Date of Birth/Age : |
36 years |
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Qualification : |
B.Com, MBA |
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Experience : |
12 years |
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Name : |
Mrs. N. B. Shah |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Trader, Exporter, Importer of essential Oils, Fruit Oils, Speciality
Chemicals, Incense sticks, Fragrances, Aroma Chemicals |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Credit |
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Purchasing : |
Cash, Credit (60 days) |
GENERAL INFORMATION
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Customers : |
Wholesaler, Retailer, End Users |
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No. of Employees : |
3 |
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Bankers : |
Citi Bank, NA, Mumbai Bank of |
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Facilities : |
The concern |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.600 million |
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Borrowed : |
-- |
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Total : |
Rs. 0.600 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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10.000 |
7.000 |
Expected Sales (2007-08) : Rs.12.500 Millions
LOCAL AGENCY FURTHER INFORMATION
Profile
A professionally managed organization, Chemicals and Fragrance Corporation
has established itself as one of the reliable sources of all kinds of Aroma
Chemicals and Essential Oils processed from the synergy of technology and
expertise.
Established. in 1981 Chemical & Fragrance Corporation.
(CFC) started with dealing in raw materials for the fragrance &
flavor industries. Over the years the company has gained the reputation of one
of the most reliable source of all kinds of aroma chemicals & essential
oils in
Our Products
The company has met with a huge success rate as it always believed in
catering best products to the market by competitively pricing them. The vast
product range THEY offer, includes:-
Our Strengths
Quality
Even when sourced externally, our raw materials undergo stringent quality checks
to ensure total reliability. The state-of-the-art facility is designed to
accommodate large bulk orders as easily as small batches, even at short notice.
From sourcing raw materials to the final product, the entire range of Extracts
are subjected to clinical trials and quality test measures at every stage of
operation.
Our products are manufactured to meet client specification and strictly
adhere to recognized international standards and quality tests. A practice that
has, over time, given the company an edge in optimizing processes and
developing new products - enabling us to develop and export an impressive and
wide range of products.
Research and Development
The company has a well defined Research and Development policy. The company's history is one of innovation through research. It takes pride on being one of the completely research oriented company. It is because of this practice that the company has been able to produce safe, efficacious and consistent herbal extracts and products using ayurvedic principles.
The department is focused on product development, quality control and
standardization. Our products represent commitment to continuous investment in
research, practices and technology.
Trade Reference:
Hemani Forgances 24124605 – Girish Hemani
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered
forfeited for violation of money laundering or international anti-terrorism
laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.84 |
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1 |
Rs.80.47 |
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Euro |
1 |
Rs.54.32 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
NO |
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TOTAL |
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44 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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