MIRA
INFORM REPORT
|
Report Date : |
25.04.2011 |
Note : Registered Office
of the company has been shifted from Sion Trombay Road, Gowandi, Mumbai-400088,
Maharashtra, India to the present address w.e.f. 01.04.2010
IDENTIFICATION DETAILS
|
Name : |
ORIENTAL AEROMATICS LIMITED |
|
|
|
|
Registered Office : |
Jehangir Building, 133, Mahatma Gandhi Road, Fort, Mumbai-400001,
Maharashtra |
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Country : |
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|
Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
14.03.1973 |
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Com. Reg. No.: |
11-16382 |
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CIN No.: [Company
Identification No.] |
u24240MH1973PLC016382 |
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|
|
TAN No.: (Tax
Deduction & Collection Account No.) |
MUMO02787B |
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|
|
PAN No.: (Permanent
Account No.) |
AAAF00349L |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Manufacturer of Industrial Fragrances and Flavours. |
RATING & COMMENTS
|
MIRA’s Rating : |
A ( 63 ) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4000000 |
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|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and a reputed company with good track.
Financials of the company appears to be strong. Directors are reported to be
experienced and respectable businessmen. Trade relations are fair. Business is active. Payments are regular and
as per commitments. The company can be considered good for normal business dealings under
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Jehangir Building, 133, Mahatma Gandhi Road, Fort, Mumbai-400001,
Maharashtra, India |
|
Tel. No.: |
91-22-66556000 |
|
Fax No.: |
91-22-66556099 |
|
E-Mail : |
kirit@orientalaromatics.com accounts@orientalaromatics.com sales@orientalaromatics.com |
|
Website : |
http://orientalaromatics.com |
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|
Factory 1 : |
Plot No. 48 and 50, GDDIC Industrial Estate, Somnath, Dabhel, Daman –
396 210, |
|
Tel. No.: |
91-260-2241195 / 2244965 |
|
Fax No.: |
91-260-2244669 |
|
E-Mail : |
sales@orientalaromatics.com |
|
Location : |
Leased |
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|
Factory 2 : |
Plot No. 133, Malanpur Industrial Area, Malanpur - 477116,
Behind, Madhya Pradesh, India |
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|
EOU Unit : |
Located at Baikampady,
Mangalore |
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|
Branches : |
Located at ·
· Chennai ·
· Kolkata ·
· Ahmedabad ·
·
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|
|
Overseas Office
: |
·
Tel. No.: (973) 227-0400/ (888)
611-2727 Fax No.: (973) 227-9940 E-Mail : sales@orientalaromatics.com ·
P. T. Djasula Wangi, JI Garuda 99, Tel. 00-62-21-4244173/4204229 E-mail. djsula@cbn.net.id Contact Person – Mr. Soesanto
·
Texchem Limited, Tel. 00-254-4440890/4440891 Fax. 00-254-2-4447140 E-mail. info@tex-chem.com Website. http://www.tex-chem.com Contact Person – Dr. G. C. Hess / Mr. Anant Whavale
·
Metmin Services, SA DE CV. Homero 109-1202,
Col. Polanco, Tel. 00-525-55-2502888 Fax. 00-525-55-2507888 Contact Person – Mr. Jaime Israel
· Paramount Trading and Industries (Nigeria) Limited, 22, Chief Nwobudoze, Street A, Jao Estate, Apakum, Oshodi, Lagos, Nigeria Tel. 00-234-4522017/4522551 Fax. 00-234-2005728 E-mail. paramount@hyperia.com Contact Person – Mr. Laxman Tulsiani / Mr. Amit Tulsiani
· Delta Technologies, No. 50, 1st Lane, Kandy Road, Wedamulla, Kelaniya, Sri Lanka Tel. 00-94-1-905275/905276 Fax. 00-94-074812186/907868/905706 E-mail. delta@igo.lk Contact Person – Mr. Royestan Abhayawardhana / Mr. Mohan
· Univa Aromatics Pte. Limited, 89, Kaki Bukit Industrial Terrace, Singapore – 416 169 Tel. 00-65-67495210/3155 Fax. 00-65-67421609 E-mail. univa@singnet.com.sg Contact Person – Ms. Mary / Ms. Roselind
·
Tel. 00-84-8-8243057/8275422 Fax. 00-84-8-8228075/8227460 E-mail. 1. canopus@hcm.vnn.vn Contact Person –
Mr. Ramesh Anand / Mr. Sasidaran |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mr. Anil Keshavlal Bodani |
|
Designation : |
Managing Director |
|
Address : |
51 Elcid 5th Floor, |
|
Date of Birth/Age : |
24.08.1940 |
|
Date of Appointment : |
14.03.1973 |
|
DIN No : |
00617909 |
|
|
|
|
Name : |
Mr. Shyamlal Anil Bodani |
|
Designation : |
Director |
|
Address : |
51 Elcid 5th Floor, |
|
Date of Birth/Age : |
22.01.1980 |
|
Date of Appointment : |
01.04.2004 |
|
DIN No : |
00617950 |
|
|
|
|
Name : |
Ms Chandrika Anil Bodani |
|
Designation : |
Director |
|
Address : |
51 Elcid 5th Floor, |
|
Date of Birth/Age : |
26.09.1942 |
|
Date of Appointment : |
01.07.1997 |
|
DIN No : |
00618298 |
|
|
|
|
Name : |
Mr. Ashwin Jayantkumar Ahya |
|
Designation : |
Director |
|
Address : |
F 44 Maitri park, |
|
Date of Birth/Age : |
05.11.1949 |
|
Date of Appointment : |
06.12.1997 |
|
DIN No : |
00618321 |
|
|
|
|
Name : |
Mr. Dharmil Anil Bodani |
|
Designation : |
Director |
|
Address : |
51 Elcid 5th Floor, |
|
Date of Appointment : |
01.10.1996 |
|
DIN No : |
00618333 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Anil Bodani |
|
110 |
|
Anil Bodani Jt. Chandrika Anil Bodani |
|
1199890 |
|
Chandrika Anil Bodani Jt. Anil Bodani |
|
1200000 |
|
Dharmil Bodani |
|
89750 |
|
Shyamlal Anil Bodani |
|
89950 |
|
Dharmil Bodani Jt. Anil Bodani |
|
710050 |
|
Shyamlal Anil Bodani Jt. Anil Bodani |
|
710050 |
|
Yuvraj Bodani Jt. Dharmil Bodani |
|
100 |
|
Veer Bodani Jt. Dharmil Bodani |
|
100 |
|
Total |
|
4000000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Industrial Fragrances and Flavours. |
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Products : |
|
PRODUCTION STATUS (As On : 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Perfumery Compound, Fragrances, Flavours and Synthetic Essential Oil |
Tons |
1000 |
NA |
NA |
|
Aromatic Chemicals |
Tones |
500 |
NA |
NA |
GENERAL INFORMATION
|
No. of Employees : |
75 (Approximately) |
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Bankers : |
·
The Hongkong and Shanghai Banking Corporation
Limited, 52/60, Mahatma Gandhi Road, P. O. Box 128, Mumbai-400001,
Maharashtra, India |
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Facilities : |
Notes : (The company has also taken Overdraft facility during the year. All
loans facilities are secured against exclusive charge on existing and future current
assets and movable fixed assets of the company) |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
N V Varma and Associates Chartered Accountants |
|
Address : |
4th Floor, Mittal Towers,
C – Wing, Nariman point,
Mumbai – 400 021, |
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|
|
|
Subsidiaries : |
Oriental Aromatics INC Camphor and Allied Products Limited |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
40.000 |
40.000 |
40.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
972.806 |
929.641 |
855.974 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1012.806 |
969.641 |
895.974 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
37.500 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
37.500 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.621 |
0.552 |
0.508 |
|
|
|
|
|
|
|
|
TOTAL |
1013.427 |
1007.693 |
896.482 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
43.684 |
46.336 |
52.395 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
634.687 |
656.304 |
537.529 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.001 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
221.576
|
180.283 |
198.734
|
|
|
Sundry Debtors |
83.412
|
92.627 |
89.476
|
|
|
Cash & Bank Balances |
41.311
|
49.315 |
20.730
|
|
|
Other Current Assets |
0.360
|
0.231 |
0.176
|
|
|
Loans & Advances |
56.254
|
21.918 |
19.580
|
|
Total
Current Assets |
402.913
|
344.374 |
328.696 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
63.489
|
37.138 |
16.940 |
|
|
Other Current Liabilities |
1.969
|
0.726 |
1.463
|
|
|
Provisions |
2.399
|
1.458 |
3.735
|
|
Total
Current Liabilities |
67.857
|
39.322 |
22.138 |
|
|
Net Current Assets |
335.056
|
305.052 |
306.558
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1013.427 |
1007.693 |
896.481 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
619.972 |
523.512 |
503.842 |
|
|
|
Profit on Sale of Investments |
0.000 |
2.107 |
38.509 |
|
|
|
Dividend On Shares |
4.440 |
4.440 |
0.231 |
|
|
|
Dividend on Mutual Fund Units |
0.136 |
1.264 |
10.630 |
|
|
|
Other Income |
2.967 |
1.755 |
0.945 |
|
|
|
Profit on Sale of Assets |
0.000 |
0.000 |
0.116 |
|
|
|
Gain on Sale of Derivatives |
0.053 |
0.000 |
2.952 |
|
|
|
TOTAL (A) |
627.568 |
533.078 |
557.225 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
484.819 |
393.935 |
347.107 |
|
|
|
Increase/(Decrease) in Finished Goods |
0.001 |
(0.901) |
0.000 |
|
|
|
Administrative Expenses |
45.006 |
33.775 |
42.985 |
|
|
|
TOTAL (B) |
529.826 |
426.809 |
390.092 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
97.742 |
106.269 |
167.133 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.374 |
6.992 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
97.368 |
99.277 |
167.133 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.235 |
6.599 |
6.357 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
91.133 |
92.678 |
160.776 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.324 |
19.014 |
31.527 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
65.089 |
73.664 |
129.249 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
880.274 |
806.610 |
677.361 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
6.600 |
0.000 |
0.000 |
|
|
|
Dividend |
20.000 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
2.644 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
916.839 |
880.274 |
806.610 |
|
|
|
|
|
|
|
|
|
|
Export Value |
58.083 |
48.950 |
58.213 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
206.529 |
133.940 |
170.138 |
|
|
TOTAL IMPORTS |
206.529 |
133.940 |
170.138 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.45 |
18.42 |
32.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
10.37
|
13.82 |
23.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.70
|
17.70 |
31.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.41
|
23.72 |
42.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.10 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.07
|
0.08 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.94
|
8.76 |
14.85 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate
identity number of the company |
u24240MH1973PLC016382 |
|
Name of the company
|
ORIENTAL AEROMATICS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Jehangir Building, 133, Mahatma Gandhi Road, Fort, Mumbai-400001,
Maharashtra, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
The Hongkong and Shanghai Banking Corporation Limited, 52/60, Mahatma
Gandhi Road, P. O. Box 128, Mumbai-400001, Maharashtra, India |
|
Nature of
instrument creating charge |
Amendment Agreement to the deed of Hypothecation dated
17Mar2011 |
|
Date of
instrument Creating the charge |
17.03.2011 |
|
Amount secured by
the charge |
Rs. 10.000 millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest
shall be payable by the Company on the banking facilities as per Banks tariff
subject however that the Bank shall have the right to change the rate of
interest after giving notice to the comp Terms of
repayment In
Consideration of Banking facilities sanctioned/to be sanctioned by the bank
to the company, the company has hypothecated and charged to the bank by way of first pari passu charge
on stocks and receivables and movable fixed assets both present and future as
a continuing security, as mentioned in Principal Deed of Hypothecation /
Amendment Agreement to secure the repayments of the advances together with
interest cost and all other charges. Margin The
company shall maintain such margin as may be specified by the Bank from time
to time Extent and
operation of the charge In
case the Company fails to fulfill its obligations under the agreement , the bank
shall be entitled to take possession of the hypothecated properties and sell
them by public auction or private contract and utilize the proceeds in full
or part settlement of its claims |
|
Short particulars
of the property charged (Including location of the property) |
First
pari passu charge on stocks and receivables and movable fixed assets both
present and future |
|
Charge
identification number of the charge to be modified |
10260205 |
|
Particulars of
the present modification |
At the
request of the Company, The Hongkong and Shanghai Banking Corporation Limited
has agreed to include charge on stocks and receivables and movable fixed
assets including furniture and fixture both present and future for INR
10,000,000 in the manner and on the terms and conditions hereinafter
contained in Principal Deed of Hypothecation /Amendment Agreement to the Deed
of Hypothecation and the same is filed under charge ID 10260205 |
Fixed
assets
·
· Building at Malanpur
· Building at Mumbai
· Plant & Machinery
· Technical know how
· Motor Cars
· Office Equipments
· Furniture & Fixtures
· Borewell
· Computers
· Books
· Dies and Moulds
websites details:-
History
Founded
by Mr Keshavlal Bodani’s inspiring vision in 1955, Oriental Aromatics is a
family owned and managed company, an heirloom that has been nurtured and passed
down to three generation of Bodani’s.
Since
the year of their inception they have successfully grown our business in India
by establishing two world class manufacturing units. The first one in Daman
with a focus on the local market, and second one in Mangalore which is their
100% EOU catering to the demands of the international market.
As
an Indian company with a global vision, they began to expand our operations to
match their ambitions. They started by setting up Oriental Aromatics Inc., New
Jersey, in 2003, a wholly owned subsidiary, and a true reflection of their
focused commitment and dedication to international business growth.
In
2008, their company took another successful leap forward by backward
integrating and manufacturing its own Aroma Chemicals. They did this by
acquiring a share holding majority in Camphor and Allied Products Limited, a
public limited company which is listed on the Bombay Stock Exchange since 1961.
it is one of India’s largest manufacturers of Specialty Chemicals.
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 records 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.30 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
yes |
|
--LITIGATION |
YES/NO |
no |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
no |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
no |
|
--EXPORT ACTIVITIES |
YES/NO |
no |
|
--AFFILIATION |
YES/NO |
no |
|
--LISTED |
YES/NO |
no |
|
--OTHER MERIT FACTORS |
YES/NO |
yes |
|
TOTAL |
|
63 |
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
|
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 |
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 |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.