MIRA
INFORM REPORT
|
Report Date : |
17.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TATA
SONS LIMITED |
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Registered Office : |
Bombay House No. 24, East Entrance, Opposite Nanavati Mahalaya, Homi
Mody Street, Fort, Mumbai – 400 001, Maharastra, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
08.11.1917 |
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Com. Reg. No.: |
11-478 |
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CIN No.: [Company
Identification No.] |
U99999MH1917PLC000478 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT07803F |
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Legal Form : |
Closely
Held Public Limited Liability Company |
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Line of Business : |
Investment,
Finance, Computer Consultancy, New Projects, Project Consultancy, Market
Research and Surveys. It also undertakes Property Development. To
carry on and provide consultancy services in the areas of computer management
and engineering covering computerized information systems, feasibility
studies, systems design and development computer based management information
systems, on line real time systems, process control, distribution computing,
data base design and implementation, operation systems, stimulators, design
or compliers, studies on computer architecture, software development,
surveying and survey data systems, industrial engineering applications and
all other related area of computer technology and to establish, provide
maintain and conduct data processing facilities including provision of
maintenance systems for minimicro and large computer systems and to act as
dealers and / or agents for any computer manufacturers. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aaa |
|
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 |
|
Maximum Credit Limit : |
USD
375000000 |
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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 reputed company of Tata Group, Country’s premier
Industrial House. Subject is doing exceedingly well. Its trade relations are
fair. Payments are always correct and as per commitments. Subject
can be considered good for business dealings at usual trade terms and
conditions. Subject’s credit worthiness is very high. |
LOCATIONS
|
Registered Office : |
Bombay House No. 24, East Entrance, Opposite Nanavati Mahalaya, Homi
Mody Street, Fort, Mumbai – 400 001, Maharastra, India |
|
Tel. No.: |
91-22-22049131/22821266 |
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Fax No.: |
91-22-22048187 |
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E-Mail : |
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Website : |
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Corporate
Office : |
Air
India Building, 11th Floor, Nariman Point, Mumbai – 400 021,
Maharashtra, India |
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Tel.
No.: |
91-22-22022427 |
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Fax
No.: |
91-22-22040711 |
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E-Mail
: |
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Branches
: |
Located at :
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Overseas Offices : |
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Marketing Offices : |
Located
at :
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DIRECTORS
|
Name : |
Mr.
Ratan Naval Tata |
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Designation : |
Chairman
|
|
Address : |
Flat
12, Bakhtawar, Opp Colaba Post Office, Colaba, Mumbai – 400 005, Maharashtra,
India |
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Date of Birth/Age : |
28.12.1937 |
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Date of Appointment : |
21.08.1974 |
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|
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Name : |
Mr.
Noshir Adi Soonawala |
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Designation : |
Vice
Chairman |
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Address : |
29,
Hampton Court, Opp Colaba Post Office, Colaba, Mumbai – 400 005, Maharashtra,
India |
|
Date of Birth/Age : |
27.06.1935 |
|
Date of Appointment : |
01.02.1989 |
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|
|
|
Name : |
Mr.
Arunkumar Ramanlal Gandhi |
|
Designation : |
Executive
Director |
|
Address : |
10, Sudama,
214, Walkeshwar Road, Mumbai – 400 006, Maharashtra, India |
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Date of Birth/Age : |
15.03.1943 |
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Date of Appointment : |
18.08.2003 |
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Name : |
Mr.
Farrokh Kaikhushru Kavarana |
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Designation : |
Non
Executive Director |
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Address : |
CCI
Chambers, 5th Floor, Dinshaw Vachha Road, Mumbai – 400 020,
Maharashtra, India |
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Date of Birth/Age : |
17.03.1944 |
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Date of Appointment : |
01.02.1991 |
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|
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|
Name : |
Mr.
Ishaat Hussain |
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Designation : |
Whole
Time Director – Finance |
|
Address : |
222-A,
NCPA Apartments, Nariman Point, Mumbai – 400 021, Maharashtra, India |
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Date of Birth/Age : |
02.09.1947 |
|
Date of Appointment : |
24.11.1998 |
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|
|
|
Name : |
Mr. J
J Irani |
|
Designation : |
Non
Executive Director |
|
Address : |
H No.
3, C Road (East), Northern Town, Bistupur East Singhbhum, Jamshedpur – 831
001, Jharkhand, India |
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Date of Birth/Age : |
02.06.1936 |
|
Date of Appointment : |
19.06.1997 |
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|
|
|
Name : |
Mr.
Richard Alan Rosling |
|
Designation : |
Executive
Director |
|
Address : |
9 Hill
Park, Malabar Hill, Mumbai – 400 006, Maharashtra, India |
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Date of Birth/Age : |
16.08.1962 |
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Date of Appointment : |
15.01.2004 |
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|
Name : |
Mr.
Ramabadran Gopalakrishnan |
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Designation : |
Executive
Director |
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Address : |
101
Baug E Abbas, 21-A, Cuffe Parade, Mumbai – 400 005, Maharashtra, India |
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Date of Birth/Age : |
25.12.1945 |
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Date of Appointment : |
24.11.1998 |
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|
Name : |
Mr.
Krishna Kumar Rayaroth Kuttambally |
|
Designation : |
Non
Executive Director |
|
Address : |
213-B,
NCPA Apartments, Nariman Point, Mumbai – 400 021, Maharashtra, India |
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Date of Birth/Age : |
24.12.1945 |
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Date of Appointment : |
22.01.2002 |
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|
|
|
Name : |
Mr.
Syamal Gupta |
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Designation : |
Non
Executive Director |
|
Address : |
19,
Commonwealth, Madam Cama Road, Mumbai – 400 021, Maharashtra, India |
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Date of Birth/Age : |
15.04.1934 |
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Date of Appointment : |
12.05.1995 |
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|
|
|
Name : |
Mr.
Cyrus Pallonji Mistry |
|
Designation : |
Additional
Director |
|
Address : |
Sterling
Bay, 103, Walkeshwar Road, Mumbai – 400 006, Maharashtra, India |
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Date of Birth/Age : |
04.07.1968 |
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Date of Appointment : |
10.08.2006 |
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Other Directorships : |
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KEY EXECUTIVES
|
Name
: |
Mr.
Farokh Nariman Subedar |
|
Designation
: |
Company
Secretary |
|
Address
: |
1,
Wadia Building, Ground Floor, 6, Babulnath Road, Mumbai – 400 007,
Maharashtra, India |
|
Date
of Birth/Age : |
24.09.1955 |
|
Date
of Appointment : |
01.01.1996 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr.
Purshotam J Hiranandani |
|
10 |
|
Mr.
Narendra P Hiranandani |
|
10 |
|
Ms.
Pushpa P Hiranandani |
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10 |
|
Ms.
Bindu Narang |
|
10 |
|
Mr.
Anil Narang |
|
10 |
|
Ms.
Nita V Narsinghani |
|
10 |
|
Mr.
Behram B Dubash and Ms. Bakhtawar B Dubash
|
|
40000 |
BUSINESS DETAILS
|
Line of Business : |
Investment,
Finance, Computer Consultancy, New Projects, Project Consultancy, Market
Research and Surveys. It also undertakes Property Development. To
carry on and provide consultancy services in the areas of computer management
and engineering covering computerized information systems, feasibility
studies, systems design and development computer based management information
systems, on line real time systems, process control, distribution computing,
data base design and implementation, operation systems, stimulators, design
or compliers, studies on computer architecture, software development,
surveying and survey data systems, industrial engineering applications and
all other related area of computer technology and to establish, provide
maintain and conduct data processing facilities including provision of
maintenance systems for minimicro and large computer systems and to act as
dealers and / or agents for any computer manufacturers. |
GENERAL
INFORMATION
|
Customers : |
Some of the major customers of the company are as under :
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|
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|
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No. of Employees : |
Around
11000 |
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|
|
|
Bankers : |
v
Standard
Chartered Grindlays Bank Limited v
Citibank
N.A. v
The
National Bank of Bahrain v
ABN
Amro, U.S.A. v
Credit
Suisse, Switzerland v
Bank
Tejarat, Iran v
Nepal
Arab Bank Limited, Nepal v
ABN
Amro, Malaysia v
UNI
Bank, Denmark v
CIBC
Bank, Canada v
DBS,
Singapore |
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|
|
|
Banking Relations : |
Good |
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|
|
|
Auditors : |
A. F.
Ferguson and Company Chartered
Accountants |
|
Address : |
Maker
Tower E, Cuffe Parade, Mumbai – 400 005, Maharashtra, India |
|
|
|
|
Associates : |
v
The
Tata Engineering & Locomotive Company Limited v
Tata
Infomedia Limited v
Tata
Investment Corporation Limited v
The
Tata Iron & Steel Company Limited v
Tata
Power Company Limited v
Trent
Limited v
Tata
AIG Risk Management Services Limited v
Tata
TD Waterhouse Asset Management Private Limited v
Tata
Trustee Company Limited v
Tata
Industries Limited v
Associated
Building Company Limited v
Tata
International Limited v
Niskalp
Investment & Trading Company Limited v
Videsh
Sanchar Nigam Limited v
Voltas
Limited v
Technopolis
Knowledge Park Limited v
Rentbazaar
(India) Limited v
Tata
Consultancy Services, Belgium SA v
Tata
Consultancy Services, Deutschland GmbH v
Tata
Consultancy Services, Netherlands BV v
Tata
Consultancy Services, Sverige AB v
Tata
Consultancy Services. France SA v
Titan
Marketing International Limited v
Titan
International Investments v
TKM
Overseas Transport Limited v
TKM
Overseas Transport Inc v
TKM
Overseas Transport (Europe) GmbH v
TKM
Logistic Pte Limited v
Tata
Consulting Engineers International AG v
Tata
Precision Industries (Pte) Limited v
Airline
Financial Support Services Limited v
Aviation
Software Development Consultancy India Limited v
Conscripti
(Pty) Limited v
Engineering
Analysis Centre of Excellence Private Limited v
Intelenet
Global Services Private Limited |
|
|
|
|
Subsidiaries : |
v
Ewart
Investments Limited v
Tata
Infotech Limited v
Orchid
Print India Limited v
Primal
Investment & Finance Limited v
Tata
AIG General Insurance Company Limited v
Tata
AIG Life Insurance Company Limited v
TCE
Consulting Engineers Limited v
TCS
Ibero America, SA v
Tata
Housing Development Company Limited v
Concept
Marketing & Advertising Limited v
Tata
International AG, Zug. v
Tata
AG, Zug. v
Tata
Limited, London v
Pamatone
Finvest Limited v
CMC
Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13500000 |
Equity
Shares |
Rs. 1000/- |
Rs. 13500.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1065146 |
Equity
Shares |
Rs. 1000/- |
Rs. 1065.146 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1065.100 |
1065.100 |
565.100 |
|
|
2] Reserves & Surplus |
92368.500 |
79286.000 |
49815.000 |
|
|
NETWORTH |
93433.600 |
80351.100 |
50380.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8755.000 |
8585.000 |
15757.700 |
|
|
2] Unsecured Loans |
14436.700 |
12819.800 |
20801.700 |
|
|
TOTAL BORROWING |
23191.700 |
21404.800 |
36559.400 |
|
|
|
|
|
|
|
|
TOTAL |
116625.300 |
101755.900 |
86939.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
342.600 |
363.400 |
5470.400 |
|
|
Capital work-in-progress |
0.200 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
118408.700 |
102001.600 |
70202.800 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
3159.700 |
|
|
Sundry Debtors |
1646.700
|
1127.200 |
10463.500 |
|
|
Cash & Bank Balances |
24.900
|
23.500 |
1098.800 |
|
|
Other Current Assets |
1285.100
|
686.600 |
0.000 |
|
|
Loans & Advances |
7152.600
|
7894.300 |
18445.400 |
|
Total Current Assets |
10109.300
|
9731.600 |
33167.400 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
3282.700
|
1694.800 |
7117.800 |
|
|
Provisions |
8952.800
|
8645.900 |
14783.300 |
|
Total Current Liabilities |
12235.500
|
10340.700 |
21901.100 |
|
|
Net Current Assets |
(2126.200)
|
(609.100) |
11266.300 |
|
|
|
|
|
|
|
|
TOTAL |
116625.300 |
101755.900 |
86939.500 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
18675.700 |
6857.300 |
65307.500 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
16536.400 |
4253.500 |
13734.600 |
|
Provision
for Taxation |
0.000 |
0.000 |
815.000 |
|
Profit/(Loss)
After Tax |
16536.400 |
4253.500 |
12919.600 |
|
|
|
|
|
|
Total
Expenditure |
2139.300 |
2603.800 |
51572.900 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
88.54
|
62.03 |
19.78 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
88.54
|
62.03 |
21.03 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
12.83
|
3.77 |
12.62 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.05 |
0.27 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
1.38
|
0.16 |
2.16 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
0.82
|
0.94 |
1.51 |
LOCAL AGENCY
FURTHER INFORMATION
History
Subject
was incorporated on 8th November, 1917 at Mumbai in Maharashtra
having Company Registration Number 478.
A
successor to the first trading company founded by Jamshedji Tata, Tata Sons
Limited promoted and managed all key Tata Group Companies until 1970.
The
company was established in 1968 and is the largest operating division of Tata
Sons Limited. It provides a wide range
of services in the areas of information technology and management consultancy.
Tata
Sons Limited has also promoted and established subsidiary companies abroad such
as Tata Limited, London and Tata International AG, Zug.
Tata
Sons Limited is the proprietor of the TATA marks, which are registered as
trademarks in various classes for a variety of goods. These marks are licensed to operational Tata Companies for use in
relation to their products and/or services. Under the Tata Brand Equity and
Business Promotion Scheme, Tata Sons Limited centrally promotes and protects a
unified TATA mark, both in domestic and international market.
Tata
Consultancy Services, a Division of Tata Sons Limited has emerged as a largest
exporter of computer software in the country. Besides Tata Consultancy
Services, the company also has one more Division viz., Tata Consulting
Engineers.
The
company has a global network of 54 offices all over the world.
software products
v
QUARTZ
– Software for the European Banks
v
E.X.
(NGN) – The friendliest business accounting package on Windows 95 / NT
v
RTWO
– A proactive intelligent information software
v
Y2
– Apparel industry software
v
ISBS
– Integrated Standard Banking System
v
IBS
– Integrated Broking System
v
FIDAC
– Fixed Deposit Accounting System
v
PCMS
– Patient Care Management System
v
SUCCESS
PLANNED ! – A Project management tool
The company is a distributor of the
following software products :
Oracle,
Avalon, Unigraphics II, GDS, Lotus Notes, PC Docs, Ansys C-Mold, Coryphaeus and
entire range of products form Sunsoft on Intel
software projects and services
Computer Consultancy
Information
Systems and Technology planning, Greenfield & customised application
software, System software, Software Re-engineering, System Migration, System
Integration, Distributed Data Processing, Database Designing, Data
Communication & Networking, Telecommunication, Office Automation,
CAD/CAM/CAE, Web Server Applications
Management Consultancy
Corporate
Strategy, Planning, Organisation Structures, Business Process Re-engineering,
Human Resource Management, Facilities Management, Operation Management and
Manufacturing System.
The
company has obtained a re-affirmation of the credit-rating from The Credit
Rating Information Services of India Limited (CRISIL) as under :-
v
Acceptance
of Fixed Deposits : “FAAA” (pronounced “F triple A”)
v
Issue
of Deventured : “AAA” (pronounced “Triple A”)
It may
be noted that the above ratings are highest in their respective categories.
Subject
offers a dynamic blend of strategy consulting and system integration services
to help organisations, architect and build their business in the economy.
Some of the academic institutions
closely involved in training programs at various levels include :
v
USA
University of Florida
University of Wisconsin
Arizona State University
Syracuse University
University of Maryland
v
canada
University of Waterloo
v
india
The Indian Institutes of Technology – Chennai, Mumbai and Kharagpur
The Indian Institute of Science, Bangalore
Software
development is an engineering process. The Sholinganallur, Qwest, Ambattur,
GEDC & HP centers at Chennai, the Seepz Center at Mumbai, the Noida and
Gurgaon II centers at Delhi and the Kolkata, Bangalore, Hyderabad, Lucknow and
Ahmedabad centers have been assessed at Level 5 of the SEI CMM scale. More than
8000 consultants work at this level, the largest number in any organisation in
the world.
Nearly
35 lead auditors qualified to lead ISO 9001 certification audits and over 170
internal auditors (the largest pool of auditors among software companies in
this part of the world) ensure that the quality management system is
implemented in each one of projects.
Over 675 consultants qualified as Certified Quality Analysts at the
division, the largest number in a single company in the world.
v
Areas of
Research Engineering
Process
Modelling and Simulation
Minerals and Material Processing
Rural Technology
v
System
Engineering
Formal Methods
Systems Engineering and Cybernetics
v
Tools and
Technologies
Artificial Intelligence
Language Processing
The
TRDDC software tools foundry is now one of the most advanced in the world,
capable of generating tools within weeks and reaches out to the global software
market with its industry-specific software products and applications.
TRDDC's
inter-disciplinary team of consultants is supported by reputed scientists from
academic institutions and research laboratories all over the world.
|
Indian Institute of Technology (IIT) at Mumbai, Chennai and Kharagpur |
Research
on VLSI Design, Intelligent Internet |
|
Indian Institute of Science (IISc),
Bangalore, University of California, San Diego |
Multimedia
Technologies |
|
University of Humberside, UK |
Systems
Engineering and Cybernetics |
|
University of Wisconsin, Milwaukee |
Component
Based Technologies |
|
University of California, Riverside |
Internet
Technologies |
|
University of Waterloo, Canada |
Data
Communications and Networking |
offshore development centers
New
Delhi, Gurgaon, Noida and Gulab Bhawan
Mumbai
Seepz,
Malad and Air India Building (i3 Micro Technology)
Chennai
Ambattur,
Shollinganallur, Qwest Center and GEDC
Kolkata,
Pune, Bangalore, Secunderabad / Hyderabad and Lucknow.
Profile
This premier promoter company of the Tatas was established as a trading enterprise by Group founder Jamsetji Tata in 1868. It is the promoter of all key companies of the Tata Group and holds the bulk of shareholding in these companies. The chairman of Tata Sons has traditionally been the chairman of the Tata Group.
Tata Sons is the owner of the Tata name and the Tata trademark, which are registered in India and several other countries. These are used by various Tata companies in relation to their products and services. The terms of use of the Group mark and logo by Tata companies are governed by the Brand Equity and Business Promotion Agreement, which is signed by Tata Sons and individual Group companies.
About 66 per cent of the equity capital of
Tata Sons is held by philanthropic trusts endowed by members of the Tata
family. The biggest two of these trusts are the Sir Dorabji
Tata Trust and the
Sir Ratan Tata Trust, which were created by the families of the sons
of Jamsetji Tata.
The subsidiaries and
divisions of Tata Sons are:
v
TCE
Consulting Engineers: Offers multi-disciplinary solutions for
projects in the fields of water supply and wastewater, industry, power and
chemicals.
v
THDC: Services include identification
of land, project conceptualisation, designing, construction, marketing and
management of residential and commercial complexes.
v
Tata Quality
Management Services:
Helps Tata companies
achieve their high levels of excellence through the Tata Business Excellence
Model.
v
Tata
Financial Services:
In-house financial
consultancy which carries out long- and short-term financial planning for Tata
companies.
v
Tata Economic Consultancy Services: Specialises in investment banking
and strategy consulting services.
v
Tata Petrodyne: Engaged in the exploration and
production of crude oil and natural gas.
v
SerWizSol: Providies
voice- and data-based BPO services.
corporate profile
The
company is at the vanguard of the effort that has made the Indian software
industry a globally recognised entity. Its’ transitional character and reach,
they expertise and acumen had made better than ever before, and capable of
thinking and delivering more than the obvious.
Subject
is the world leading information technology consulting, services and business
process outsourcing organisation that envisioned and pioneered the adoption of
the flexible global business practices that today enable companies to operate
more efficiently and produce more value.
They
achieved this by creating and perfecting the global deployment and delivery of
high quality, high value services and products in IT consulting and business
process outsourcing that have helped reshape business and deliver competitive
advantage.
More
than 75% of customers reward reliability, passion, creativity, and unique
ability to handle the broadest range of their IT needs by continually extending
and deepening their partnerships with us. With over 28,000 of the world's best
trained IT consultants located in 32 countries, we are uniquely positioned to
deliver flexible world class services seamlessly to any location.
TCS is a
division of Tata Sons, the holding company of the $13 billion Tata group,
India's best known and respected business conglomerate, which is also a leader
and pioneer in a variety of industry segments and corporate social
responsibility.
Varied offerings
The
company’s services offerings are varied, and straddle many different
industries, such as finance and banking, insurance, telecommunications,
transportation, retail, manufacturing, pharmaceuticals and utilities. There
clients include small, medium and large companies, and our consulting
engagements vary from a few person-months to hundreds of person-years in
effort.
There
work had spanned a range of activities, from strategy consulting and system
integration services to offshore development centres for some of the most
sophisticated software development in the world. Consider these facts about :-
·
Projects
for over 1000 clients in more than 55 countries. Our clients get measurable
business results, which is why many Fortune 500 companies prefer us.
·
More
than 100,000 person years of experience in diverse business domains and technology areas.
·
Knowledge
accumulation through collaborative
research with industry and academia, and partnerships with global technology
leaders.
·
Over
28,000 consultants, a range of world-class products, proven offshore
development capabilities, and multiple SEI CMM Level 5 centres.
·
Total
revenues
of Rs. 50120 millions ($ 1.04 billion) in the year ended March 31, 2003.
·
TCS
believes that IT is a key factor for social change and is committed to several community development ventures.
They had
engineered some of the world's most complex applications and next-generation IT
infrastructure. We do this by combining knowledge of business domains with our expertise
across various technologies. Our unique 'web of
participation' structure enables to maximise the benefits of our
depth, diversity and delivery capability to offer the most innovative solutions
in every business and technology domain.
The
house of company was founded by Sir Jamsetji Tata in the latter part of the
19th century. It started with textiles and went on to steel, electric power,
automobiles, chemicals and more. The group later diversified further, and it
now has interests in financial services, hotels, telecommunications and
information technology. The Tata Group comprises over 80 companies and is
trusted by over 2 million shareholders. Its business operations are a byword
for ethical and socially responsible corporate governance.
joint ventures
Aviation Software Development
Consultancy India Limited
Chennai
is engaged in development and maintenance of software for the aviation industry
and operates from a 10,000-sq-ft development centre in Chennai. The company
renders IT services and solutions to several airlines and aviation-related
companies, both on-site and off-site, it's main client being Singapore Airlines.
The company was originally a joint venture between TCS and Singapore Airlines
but TCS acquired Singapore Airlines' residual 51 per cent stake in the company
in March 2004.)
Airline Financial Support
Services (India) Private Limited
Mumbai (SEEPZ). AFSL renders revenue
accounting services to various European airlines. It has diversified its
services into Qualiflyer support services, distribution support services,
navigation support, etc. The company acquired Swissair's stake in this former
joint venture in May 2003)
Intelenet Global Services
Limited
With
Housing Development Finance Corporation (HDFC) to provide IT-enabled services
to global clientele.
eAsiaFinance, Singapore, an Internet banking solutions
company with Ankar Capital, New York, Sakndinaviska Enskilda Banken (SEB),
Sweden, and Compass Venture Capital (the venture capital arm of McKinsey &
Co). eAsiaFinance will be based in Singapore and will offer a comprehensive
range of wealth management products and services to leading banks and financial
institutions in 13 Asian countries.
InnovaTV, San Diego, California
Formed
between TCS America and the head of the multimedia department, University of
California, San Diego. InnovaTV, a subsidiary of the company, undertakes
research and development in streaming video.
CMC Limited
Subject
is a 51 per cent stakeholder in CMC, one of India's leading computer
networking, facilities management, and maintenance companies. The company had
management control of the company.
The successor to the first trading company
founded by Jamsetji Tata, Tata Sons Limited promoted and managed all key Tata
Group companies until 1970.
Adhering to the trusteeship concept of management, about 66 per cent of the
company’s capital is held by philanthropic trusts endowed by Jamsetji’s sons,
Sir Dorab Tata and Sir Ratan Tata, and other charitable trusts. These trusts
have sponsored and promoted a number of public institutions in the fields of
science, technology, medicine, social service, rural welfare and the performing
arts.
Subject is the principal investment holding company of the Tata Group and has
the following operating divisions:
·
Tata
Consultancy Services
·
Tata
Economic Consultancy Services
·
Tata
Financial Services
·
Tata
Quality Management Services
Established in 1968, the company is the largest operating division of Tata Sons
Limited. It provides a wide range of services in the areas of information
technology and management consultancy.
The company has also promoted and established subsidiary companies abroad, such
as Tata Limited, London, and Tata International AG, Zug.
The
company’s proprietor of the TATA marks, which are registered as trademarks in
various classes for a variety of goods. These marks are licensed to operational
Tata companies for use in relation to their products and/or services. Under the
Tata Brand Equity and Business Promotion Scheme, Tata Sons Limited. centrally
promotes and protects a unified TATA mark, both in domestic and international
markets.
The company’s Board is made up of the chairmen or CEOs of major operating Tata
Group companies, and the elected chairman of the Board of company is recognised
as the Group Chairman.
The
company’s fixed assets of important value include Freehold & Leasehold
Land, Freehold & Leasehold Buildings, Plant & Machinery, Motor
Vehicles, Furniture & Fittings and Office Equipments.
Subject
has been accredited with ISO 9001 Certification.
Notes
Advinus Therapeutics inaugurates
state-of-the-art Drug Discovery Facility in Pune
Date : August 3 2006
Pune
Mr. Ratan Tata, Chairman, Tata Sons, inaugurated the state-of-the-art drug discovery facility
of Advinus Therapeutics at a function held in Pune. Advinus Therapeutics
is the drug discovery and development company
catering to the pharmaceutical and agrochemical industries promoted by the Tata
Group with Dr. Rashmi Barbhaiya. The CEO and Managing Director of Advinus, Dr. Barbhaiya is an
internationally reputed pharmaceutical scientist with vast experience in drug discovery and development. Also present at the function were Mr. R
Gopalakrishnan, Chairman, Advinus
along with the senior management including Dr. Kasim Mookhtiar, CSO and head of
drug discovery, Dr. Nimish Vachharajani, Head of Pharmaceutical
Research and Rajiv Malik, Head of Business and Corporate Development.
Located in the Biotech park at Hinjewadi, Pune and spread over an area of 20,000 sq.ft, the discovery arm of Advinus Therapeutics will undertake novel drug discovery and
generating IP primarily in the area of Metabolic Diseases and Inflammation. The
facility in Pune currently has 55 scientists in
various streams initially and with a plan to ramp up over a period of time. The
centre in Pune is equipped with
state-of-art automated biological testing equipments using multiple platforms,
molecular, cell biology and recombinant DNA technology, mass detected
purification system and parallel synthesis for medicinal chemistry, 400 MZ NMR,
API 4000 LC MS/MS.
Speaking at the inauguration, Mr. Ratan Tata, Chairman, Tata Sons said,
“Looking ahead into the future, the Group is committed to being in new high
technology and knowledge-based industries and Pharma is one such area. Backed
by its strong team and infrastructure, we believe that Advinus will partner global majors in creating value from their
research efforts and improve the quality of life.”
Description :
Also present at the function, Mr. R Gopalakrishnan, Executive Director, Tata
Sons and Chairman, Advinus Therapeutics said, “The Tata Group has
partnered with a technocrat in an entrepreneurial venture, which is uncommon.
We believe that such a business model backed by the combined experience of the
team led by Dr. Rashmi Barbhaiya as CEO & Managing Director and shareholder
holds tremendous potential. TCS which is already in the bio-informatics and
life-sciences space will complement the pioneering efforts of Advinus.
Dr. Rashmi Barbhaiya, Managing Director and CEO of Advinus states, “Post my leaving Ranbaxy, the easiest option for
me was to go back to the US. But I had come to India with a mission and
creation of Advinus Therapeutics offers an opportunity to
leverage the India-advantage to discover and develop novel drugs with speed and
cost-effectiveness. At Advinus,
we will focus on creating cutting-edge research facilities with an estimated
workforce of 550 employees by 2010 comprising of some of the best available
talent pool from across the globe. It is a great privilege for me and every
employee of Advinus that the
company is promoted by a reputed group such as Tata”
Advinus also has a large
operation in Bangalore, set over an 8 acre campus with over 180,000 sq. ft of
built up space, where it offers end to end pharmaceutical R&D services in
the preclinical and early clinical part of the R&D value chain. This
end-to-end platform is the only one of its kind in India. Advinus also offers extensive
capabilities in the agro-chemical and chemical development areas. Advinus is exploring opportunities in
companies based in the US and Europe which are looking at cost-effective,
high-quality solutions for their R&D programmes. The company aims to become
a leading discovery organisation
in India through its leadership and people, discovery programmes, partnerships, productivity as judged by INDs
filings and successful out-licensing.
Advinus set for Rs 220 Millions expansion in Bangalore
Madhumathi D.S.
Scouting for land for
second facility
Through Advinus, the Tata
group hopes to tap the exponentially growing drug R&D outsourcing trend.
Bangalore , March 30
Advinus Therapeutics, the Tata Group-promoted drug
discovery and contract research entity, is in an expansion mode in Bangalore
and looking for a large, second site to set up its drug development facility,
it is understood.
The investment in the new facility could be nearly Rs
220 Millions ($5 million). Advinus' present land requirement could be of the
order of 0.2 Millions sq ft, according to sources familiar with the
development.
The new facility is most likely to be located around
the existing unit at Peenya, from where a former agro-chemical venture of the
Tatas — the erstwhile Rallis Research Centre - once functioned.
The old Rallis site and operations were acquired for
Rs 260 Millions only a year ago when Advinus was formed.
Through Advinus, the Tata group hopes to tap the
exponentially growing drug R&D outsourcing trend, in which pharma majors
have been globally spending around $65 billion (over Rs 280000 Millions).
The domestic contract research sector alone is worth
around Rs 4800 Millions and set to grow at 80 per cent as estimated by TCS,
another Tata arm that offers clinical trials software, the sources said.
Advinus is the Tatas' recent foray into emerging
pharma R&D area; the group has an undisclosed majority equity share in the
year-old joint venture with Dr Rashmi Barbhaiya, former R&D chief at
Ranbaxy.
Once an active pharma manufacturing player, the Tata
group had exited this business a few years ago, by selling Merind to Wockhardt
and Rallis to Shreya.
Tata group honcho, Mr R. Gopalakrishnan, is its
Chairman while Dr Barbhaiya is its CEO & Managing Director.
The R&D venture focuses on drug discovery,
contract research and pharmaceutical development services.
Its aim is to discover small therapeutic, licensable
molecules to treat a whole range of diseases - including diabetes, obesity,
chronic asthma, osteoporosis, rheumatoid arthritis, and neglected third-world
diseases such as kala azar, dengue, TB, leprosy and malaria.
Advinus has identified Bangalore, with its research
centres and talent pool, as its hub. It also has smaller scale research
operations at Pune.
It also offers support to biotechnology, agro-chemical
companies in global registration, besides pre-clinical and early clinical
development for potential or candidate drugs that are being developed by
companies.
Bankers
Charges Report as per Registry
Name of the Company : Tata Sons Limited
Presented by : -- Tata Sons Limited
|
1.
Date and description of the instrument creating or evidencing the charge
|
Facility-cum-Hypothecation
agreement dated 17.02.2003 |
|
2.
Amount secured by the charge /amount
owing on security of the charge |
Rs.
10000.000 millions |
|
3.
Short Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
|
First
charge on all the present and future foreign book debts and all other movable
assets of the borrower’s Tata Consultancy Services Division including
outstanding moneys, receivable including receivables by way of cash
assistance and / or cash incentives under the cash incentive scheme or any
other scheme including claims by way of refund of customs / excise duties
under the Duty Drawback Credit Scheme or any other scheme, bills, invoice
documents, contracts, insurance policies, guarantees, engagements,
(hereinafter referred to as “the hypothecated assets”) ranking pari passu
with subsisting charges in favour of ABN Amro Bank NV, Standard Chartered
Bank and Bank of America without any preference or priority to one over the
other or others who have agreed to cede pari passu charge to State Bank of
India. |
|
4.
Gist of the terms and conditions and extent and operation of the charge. |
a) The
hypothecated assets shall also be security for the payment and discharge of
all indebtedness whatsoever or liability of the borrower to the Bank in
respect of any liability undertaken by the bank under any letter of credit
opened or guarantee or indemnity issued by the bank for the borrower or
otherwise in respect of any account at any office of the bank (whether in
India or elsewhere and whether accrued, accruing or contingent and whether
solely or jointly with others) and any bill of exchange promissory notes or
instruments at any time drawn made accepted or endorsed by the borrower
solely or jointly with others which the bank may discount or become
interested in together with all interest discount commission charges costs
(between advocate and client) and expenses payable to or incurred by the bank
in relatin thereto. b) The
borrower shall at all times maintain a ufficient quantity and market value of
goods, book debts, movable assets and other assets given as security, to
provide the margin of security of 25% required by the bank from time to time
and will forthwith whenever necessary provide further goods book debts,
movable assets and other security (approved by the bank) to restore such
margin or pay to the bank the equivalent amount in cash. In respect of letter
of credit opened or guarantees or indemnities issued by the bank on behalf of
borrower, the borrower shall deposit sufficient cash or other security as may
be acceptable to the bank as margin money as stipulated by the bank. The bank
shall be entitled to and shall at its discretion, which shall be final and
binding on the borrower, charge the margins and the borrower shall be bound
by it notwithstanding any margins earlier agreed to by the bank. c)
Rate of Interest : Foreign
Currency: upto 180 days 65 basis point above LIBOR (front end) upto 180 days
70 basis point above LIBOR (back end) Indian
Rupees: as per extant instructions. |
|
5.
Names, address and description of the
persons entitled to charge |
State
Bank of India Corporate
Accounts Group Branch, Voltas House, J N Heredia Marg, Ballard Estate, Mumbai
400001, Maharashtra, India |
|
6.
Date and brief description of instrument modifying the charge |
N A |
|
7.
Particular of modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
N A |
Name of the Company : Tata Sons Limited
Presented by : -- Tata Sons Limited
|
1.
Date and description of the instrument creating or evidencing the charge
|
Hypothecation
of goods, book debts, machinery dated 27.02.1980 |
|
2.
Amount secured by the charge /amount
owing on security of the charge |
Rs.
4.500 millions |
|
3.
Short Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
|
All
book debts (inland and foreign) of the company’s division viz. Tata Consulting
Engineers not exceeding 90 days |
|
4.
Gist of the terms and conditions and extent and operation of the charge. |
Interest
@ 12% plus interest tax |
|
5.
Names, address and description of the
persons entitled to charge |
Bank
of Baroda Opera
House, Opera House Branch, 14, Mama Parmanand Marg, Mumbai – 400 004,
Maharashtra, India |
|
6.
Date and brief description of instrument modifying the charge |
Supplemental
agreement of hypothecation of goods, book debts, etc. dated 13.01.2000 |
|
7.
Particular of modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
The
charge in respect of the cash credit limit has been increased from Rs. 12.500
millions to Rs. 30.000 millions Previous
modification when the charge in respect of cash credit limit was enhanced to
Rs. 12.500 millions was registered on 20.10.1998 at serial no. 559. Original
charge was registered on 02.01.1981 |
Name of the Company : Tata Sons Limited
Presented by : -- Standard Chartered Bank, Fort, Mumbai – 400001, Maharashtra,
India
|
1.
Date and description of the instrument creating or evidencing the charge
|
Agreement
of hypothecation of book debts dated 13.09.2002 |
|
2.
Amount secured by the charge /amount
owing on security of the charge |
Rs.
1500.000 millions a)
Export Finance (Preshipment and Postshipment including Packing Credit in
FCY/INR) b)
Overdraft / Working Capital Demand Loan.
|
|
3.
Short Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
|
Hypothecation
by way of first pari passu charge to the bank on: All
the present and future book debts, outstanding moneys, receivables, claims,
bills which may at any time hereafter during the continuance of this security
become due and owing to the borrower in the course of its business by any
person, firm, company or body corporate or by the Government Department or Office
or Municipal, or Local or Public or Semi Government Bodies or Authority or
any body corporate or undertaking or project whatever in the public sector
(all of which hereinafter collectively referred to as “the said debts”) |
|
4.
Gist of the terms and conditions and extent and operation of the charge. |
Rate
of Interest : as would be determined by the bank from time to time. |
|
5.
Names, address and description of the
persons entitled to charge |
Standard
Chartered Bank, 23-25, M G Road, Fort, Mumbai – 400001, Maharashtra, India |
|
6.
Date and brief description of instrument modifying the charge |
Supplementary
hypothecation agreement of book debts dated 02.05.2003 |
|
7.
Particular of modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
The
original charge was created on dt. 13.09.2002 for Rs. 1500.000 millions. Now
by the present modification dated 02.05.2003 the bank at the request of the
borrower agreed to enhanced the credit facility granted by the bank to the
borrower by way of Overdraft / WCDC, Export Loans/ (INR/ Any foreign
currency)/ FCNR (B)/ Short Term Loan fro Rs. 1500.000 millions to Rs.
3500.000 millions |
Contact
Tata
Sons
Bombay House, 24, Homi Mody Street, Mumbai 400 001, Maharashtra, India
Phone: 91 (22) 6665 8282
Email: media@tata.com
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.09 |
|
UK
Pound |
1 |
Rs.86.59 |
|
Euro |
1 |
Rs.57.92 |
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/normal. |
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 |
|