MIRA INFORM REPORT

 

 

 

Report Date :

14.08.2008

 

IDENTIFICATION DETAILS

 

Name :

AROMATIC LABORATORIES (PVT) LTD

 

 

Registered Office :

# 120/03, Aramaya Road, Colombo 09

 

 

Country :

Sri Lanka

 

 

Financials (as on) :

31.03.2005

 

 

Date of Incorporation :

01.02.1985

 

 

Com. Reg. No.:

N (PVS) 1611

 

 

Legal Form :

Private Limited Liability Company   

 

 

Line of Business :

Manufactures, Imports and Exports of all kinds of Pharmaceutical, Medical, Cosmetic and Toilet Requisites   

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

GENERAL - Basic information at a glance

     

Name of Subject of Inquiry

:

 

AROMATIC LABORATORIES (PVT) LTD

 

Legal Form  & Status

:

Private Limited Liability Company    (In operation)

Managing Director

:

Mr. Mohamed Raffi Masoor

Primary Line of Business

:

Manufactures, Imports and Exports of all kinds of Pharmaceutical, Medical, Cosmetic and Toilet Requisites   

Head Office

&

Place of Business

 

:

 

# 120/03, Aramaya Road,

Dematagoda,

Colombo 09.

 

Tel. No: (00 94 11) 269 1816

Fax No: (00 94 11) 268 3278

 

No. of Employees

:

Approximately  30

 

        

COMPANY DETAILS  - Registration and Shareholder Details

 

Registration No

:

N (PVS) 1611

Date of Registration

:

01st February 1985

Registered Office

:

# 120/03, Aramaya Road, Colombo 09

Board Of Directors

As At

14th March 2008

:

Mohamed Raffi Masoor

Director

Mohamed Azad Faiz

Director

W. P. Mohamed

Director

N. Asharanissa Wadood

Director

S. F. Faiz

Director

Authorised Share Capital

:

Rs.        3,000,000.00

Issued Share Capital

:

Rs.        2,100,000.00

Nominal Value of Share

:

Rs.        10.00

Share Holders

As At

14th March 2008

:

 Share Holders

No of Shears

Mohamed Raffi Masoor

202,000

Mohamed Azad Faiz

2,000

W. P. Mohamed

2,000

N. Asharanissa Wadood

2,000

S. F. Faiz

2,000

Secretaries

:

Ceylon Secretarial Services Ltd

Auditors

:

M/S Gunawardena

Bankers

:

Commercial Bank, HNB

 

 

FINANCIAL DETAILS - Most recent available Financial Information

 

  

 

Year ended

31st March 2005

‘Rs’

Year ended

31st March 2004

‘Rs’

 

Revenue

:

14,986,046.94

15,594,410.00

 Cost of Sales

:

(11,362,327.08)

(12,344,458.00)

Gross Profit

:

3,623,719.86

3,249,952.00

Other Income

:

-

-

Administration Expenses

:

(2,794,152.43)

(2,238,333.00)

Distribution Expenses

:

-

-

Financing (cost)/Income

:

(782,194.39)

(840,751.00)

Net Profit / (Loss) before Tax

:

47,373.04

170,868.00

Income Tax (expenses)/  

Release                                                                                                                    

:

-

(486,313.00)

Net Profit / (Loss) After Tax:

:

47,373.04

(315,445.00)

                                      

 

As At

31st March 2005

‘Rs’

As At

31st March 2004

‘Rs’

Non-current Assets

:

2,360,815.73

2,613,646.00

 

Investment

:

-

-

 

Current Assets

:

15,502,103.66

13,060,359.00

 

Current Liability

:

8,186,724.42

6,045,183.00

 

Non-current liability

:

-

-

 

Total Liabilities

:

8,186,724.42

6,045,183.00

 

Total Assets

:

17,862,919.39

15,674,005.00

 

 

Net Worth

 

:

9,676,194.97

9,628,822.00

 

                                                                


 

current investigation

 

·         History.

 

The Subject Company AROMATIC LABORATORIES (PVT) LTD is a Private    Limited   liability Company incorporated in 01st February 1985.

 

·         Location.

 

                 The Subject Company is located at the client given address # 120/03, Aramaya Road,                             Dematagoda, Colombo 09

 

·         Operations Details.

 

General

 The subject company primary line of business is Manufactures, Imports and Exports of all kinds of Pharmaceutical, Medical, Cosmetic and Toilet Requisites   

Products

Pharmaceutical, Medical, Cosmetic and Toilet Requisites   

 

Country

Malaysia and European Countries

 

Employees

                 Approximately 30

 

·         Financial Data

Received from non-formal sources.

 

·         General Comments

 

When the Subject Company was contacted they were very cooperative and polite in providing the information given in this report, however they were reluctant to provide financial and any other background information that would have been useful to enhance this report.

                

·         Trade references

 

                  The subject company did not provide any trade reference referrals

 

·         Credit Recommendations

 

No computerised data bases exist to make checks whether the partners or the company has any legal action or lawsuit initiated against any of them but informal (but not in-depth) checks do not indicate any such cases in the public knowledge.

 

 

ANALYSIS & RATING - Appraisal and Rating of Subject Company

 

Rating:

a) Business Scale         

Medium

b) Business Trend

Growing

c) Management Capability

Average

d) Commercial Morality

Average

e) Reputation

Average

f) Market Situation

Very Competitive

                       


           

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.82

UK Pound

1

Rs.80.01

Euro

1

Rs.63.83

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions