MIRA
INFORM REPORT
|
Report Date : |
03.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
TURBO ENERGY
LIMITED |
|
|
|
|
Formerly Known As : |
ASTRA TEL –
DIVISION OF TURBO ENERGY LIMITED |
|
|
|
|
Registered Office : |
67, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
03.05.1982 |
|
|
|
|
Com. Reg. No.: |
18-9363 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U40107TN1982PLC009363 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHET00565F/CHET06281C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACT2916R |
|
|
|
|
Legal Form : |
Closely held public limited liability company. |
|
|
|
|
Line of Business : |
Manufacturer of Turbo Chargers, Components and parts of Turbo
Chargers. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
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 3000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having fine track.
Available information indicates high financial responsibility of the company.
Financial position is good. Payments are correct and as per commitments. The
company can be considered good for any normal business dealings. It can be regarded as a promising business partner in a medium to
long-run. |
LOCATIONS
|
Registered Office : |
No. 67, |
|
Tel. No.: |
91-44-26257286/24322408/24322034 |
|
Fax No.: |
91-44-26257010/24343492/24325640 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
·
Sriperumbudur – 602 105, Tamilnadu Tel. 91-4111-232375/232253/232283/232251 Fax. 91-4111-232994 ·
Cheyyar Taluk – 604 410, Tamilnadu Tel. 91-4111-242291 Fax. 91-4111-242163 ·
|
|
|
|
|
Branches : |
Located at :- 110, Chateau Dampa Complex, Basement Aminkjikarai, Chennai – 600 029, Tamilnadu Tel. 91-44-23741303/23741174/23742691 Fax. 91-44-23741272 |
DIRECTORS
|
Name : |
Mr. R. Ramanujam |
|
Designation : |
Director |
|
Address : |
17, |
|
Date of Birth/Age : |
29.07.1936 |
|
Date of Appointment : |
03.05.1982 |
|
|
|
|
Name : |
Mr. Ananth Ramanujam |
|
Designation : |
Director |
|
Address : |
17, |
|
Date of Birth/Age : |
26.08.1964 |
|
Date of Appointment : |
25.09.1995 |
|
|
|
|
Name : |
Mr. Johann
Christoph Rabe |
|
Designation : |
Director |
|
Address : |
Am Wasserturn 21
65207, |
|
Date of Birth/Age : |
26.01.1956 |
|
Date of Appointment : |
12.03.2004 |
|
|
|
|
Name : |
Mr. Hans Werner
Heyne |
|
Designation : |
Director |
|
Address : |
Anebosstrasse 6 D
– 67240, Bobenheim – |
|
Date of Birth/Age : |
24.05.1945 |
|
Date of Appointment : |
12.03.2004 |
|
|
|
|
Name : |
Mr. F. Lee Wilson |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. G. K. Raman |
|
Designation : |
Director |
|
Address : |
10, 12th
Cross Street, Indira Nagar, Chennai – 600020, Tamilnadu |
|
Date of Birth
: |
09.09.1931 |
|
Date of
Appointment : |
07.06.1999 |
|
|
|
|
Name : |
Mr. Mantosh Sondhi |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. T. T. Rangaswamy |
|
Designation : |
Director |
|
Address : |
9, Kasturi
Estates, |
|
Date of Birth
: |
21.02.1924 |
|
Date of
Appointment : |
20.11.2002 |
|
|
|
|
Name : |
Mr. Udo Schwerdel |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. M. Sivaramasubramonian |
|
Designation : |
Company Secretary |
|
Address : |
24 [Plot No. 1023], |
|
Date of Birth
: |
09.07.1955 |
|
Date of
Appointment : |
02.05.2001 |
|
|
|
|
Name : |
Mr. Roger J. Wood |
|
Designation : |
Director |
|
Address : |
3692, |
|
Date of
Appointment : |
02.12.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Mr. T. T.
Rangaswamy |
320 |
|
Mr. K.
Balagangadharan |
320 |
|
Mr. Prema
Ramanujam |
16960 |
|
Ms. Gita Ram |
8000 |
|
Mr. Chitra Viji |
8000 |
|
Brakes India
Limited |
1280000 |
|
Sundaram Finance
Limited |
1280000 |
|
Mr. T. S.
Santhanam |
18560 |
|
Ms. Padma
Santhanam |
12800 |
|
Ms. Nivedita Ram |
6400 |
|
Mr. Srivats Ram |
19200 |
|
Mr. S. Viji |
12800 |
|
Ms. Harsha Viji |
6400 |
|
Mr. Sriram Viji |
6400 |
|
Mr. R. Ramanujam |
13120 |
|
Mr. Ananth
Ramanujam |
3840 |
|
Ms. Reeta Sondhi
& Mr. Vipin Sondhi |
1920 |
|
Shikara Holdings
Private Limited |
640 |
|
Borgwarner Turbo
Systems Worldwide Headquarters GmbH |
1304320 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Turbo Chargers, Components and parts of Turbo
Chargers. |
|
|
|
|
Products : |
Item Code No. : Product Description 84148030 Turbochargers 84149090 Turbochargers
Parts ·
Turbochargers ·
Components and Parts
Turbochargers The company has technical collaboration
with :- * Borg Warner Turbo Systems |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Turbochargers |
Nos. |
Delicenced |
330000 |
201792 |
|
Components &
parts of Turbochargers |
Nos. |
Delicenced |
4000000 |
1304107 |
GENERAL INFORMATION
|
No. of Employees : |
250 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Bankers : |
v Bank of v
State Bank of |
||||||||||||||||
|
|
|
||||||||||||||||
|
Facilities : |
|
||||||||||||||||
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Sundaram & Srinivasan Chartered Accountants, |
|
Address : |
Chennai – 600018, Tamilnadu |
|
|
|
|
Associates/Subsidiaries : |
v Brakes India
Limited Padi, Chennai – 600 050, Tamilnadu Tel. 91-44-26258161 Fax. 91-44-26257010/26257844 E-mail. bitvs@md2.vsnl.net.in Website. http://www.brakesindia.com v Sundram
Polymers Division Plot No. 3A, KIADB Industrial Area,
Nanjangud – 571 302 Tel. 91-8221-24056/24057 Fax. 91-8221-26672 E-mail. binspl@vsnl.com v Harita Finance
Limited Jayalakshmi Estates 8, Channai – 600 006, Tamilnadu Tel. 91-44-28277155 Fax. 91-44-28232296 v India Japan
Lighting Limited 272, Anna Salai, Teynampet, Chennai – 600
018, Tamilnadu v 21, Tel. 91-44-28523996/28524097 Fax. 91-44-28523009 Telex. (041) 6494 E-mail. impalmds@vsnl.com v Tel. 91-44-28111200 Fax. 91-44-28115624 E-mail. inel.padi@lucastvs.springintrpg.ems.vsnl.net.in v Irizar TVS
(Private) Limited 7B, v Lakshmi Auto
Components Limited Post Box No. 4, Harita, Hosur – 635 109,
Dharmapuri District, Tamilnadu Tel. 91-4344-276780/4 Fax. 91-4344-276017/276016 v Lucas Indian
Service 272, Anna Salai Teynampet, Chennai – 600
018, Tamilnadu Tel. 91-44-24340513/24340536/24341460 Fax. 91-44-24342108 E-mail. lishead@satyam.net.in v Lucas TVS
Limited Padi, Chennai – 600 050, Tamilnadu Tel. 91-44-26258211/26257273 Fax.
91-44-26257215/26259642/26257863/26250306 E-mail. mktg.padi@lucastv.co.in Website. http://www.lucas-tvs.com v Southern
Roadways Limited Tel. 91-452-2381281 v Sundaram Brake
Linings Limited Padi, Chennai – 600 050, Tamilnadu Tel. 91-44-26258111 Fax. 91-44-26257572 E-mail. sbl@giasmd01.vsnl.net.in v Sundaram
Clayton Limited Jayalakshmi Estates, 8, Tamilnadu Tel. 91-44-28272233 Fax. 91-44-28257121 Website. http://www.sundaram-clayton.com v Sundaram
Dynacast Limited P. O. Box No. 17, Padi, Chennai – 600 050,
Tamilnadu Tel. 91-44-26259169/26258161 Fax. 91-44-26259168 E-mail. sundyn@md3.vsnl.net.in v Sundaram
Fasterners Limited Padi, Chennai – 600 050, Tamilnadu Tel. 91-44-26258460 Fax. 91-44-26257493/26257728 Website. http://www.sundram.com v Sundaram
Industries Limited Tel. 91-452-2382801/4 Fax. 91-452-2381240 |
|
|
v |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 50.000 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 |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
40.000 |
40.000 |
40.000 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
760.581 |
529.395 |
372.000 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
800.581 |
569.395 |
412.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
25.041 |
74.321 |
16.000 |
|
|
2] Unsecured
Loans |
273.646 |
0.000 |
130.600 |
|
TOTAL
BORROWING
|
298.687 |
74.321 |
146.600 |
|
|
DEFERRED TAX
LIABILITIES |
8.689 |
9.309 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1107.957 |
653.025 |
558.600 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
404.141 |
248.526 |
135.500 |
|
Capital work-in-progress
|
27.404 |
9.026 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
269.777 |
106.389 |
147.000 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
376.772
|
146.785
|
109.500 |
|
|
Sundry Debtors
|
260.001
|
225.224
|
261.600 |
|
|
Cash & Bank Balances
|
12.606
|
63.015
|
13.900 |
|
|
Other Current Assets
|
3.881
|
3.844
|
0.000 |
|
|
Loans & Advances
|
106.764
|
114.042
|
26.800 |
Total Current Assets
|
760.024
|
552.91 |
411.800 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
353.389
|
223.826
|
135.700 |
|
|
Provisions
|
0.000
|
40.000
|
0.000 |
Total Current Liabilities
|
353.389
|
263.826
|
135.700 |
|
Net
Current Assets
|
406.635
|
289.084
|
276.100 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1107.957 |
653.025 |
558.600 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
2416.641 |
1668.505 |
1121.200 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
455.407 |
305.974 |
211.600 |
Provision for Taxation
|
156.380 |
103.401 |
83.000 |
Profit/(Loss) After Tax
|
299.027 |
202.573 |
128.600 |
|
|
|
|
|
|
Export Value |
588.652 |
314.125 |
N.A. |
|
|
|
|
|
Import Value
|
948.351 |
593.824 |
N.A. |
|
|
|
|
|
Total Expenditure
|
1961.234 |
1362.531 |
909.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
12.37
|
12.14 |
11.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.84
|
18.33 |
18.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
39.11
|
38.17 |
38.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.56
|
0.53 |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.81
|
0.59 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15
|
2.09 |
3.03 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The sales during
the financial year increased by 45% and Profit & Loss before depreciation,
interest and taxes increased by 54.18% over last year. The company has been able to contain interest
and expenses at reasonable levels despite increase in several input costs. The depreciation has increased from Rs.
54.900 millions to Rs. 103.200 millions due to addition to plant and machinery
to meet increased sales and the indigenization programme.
REVIEW OF BUSINESS PROSPECTS OF THE COMPANY
The Government
policy on upgrading the emission norms to Euro II has been introduced from
April 2005. But there are several delays
expected in the provisioning of correct fuel as a result of which
implementation will be happening in a staggered manner. The company is generally expected to increase
its customer base progressively in respect of Mahindra & Mahindra, Eicher,
Swaraj Mazda and General Motors.
DIVIDEND, APPROPRIATION & ADJUSTMENTS
Taking into account
the carried forward profit of Rs. 34.700 millions, the total amount available
for appropriation is Rs. 333.700 millions.
During the year,
two interim dividends totaling to 150% involving a dividend pay out of Rs. 60
millions [excluding applicable taxes on distributed profits, amounting to Rs.
7.800 millions] have already been paid.
The directors are not recommending any further dividend. The interim dividends already paid are to be
confirmed as dividend for the year.
A sum of Rs. 200
millions is proposed to be transferred to General Reserve and the balance sum
of Rs. 65.900 millions in the Profit and Loss Account is proposed to be carried
forward to the next financial year.
It is in trade terms with :
Ø
Ashok
Leyland
Ø
BorgWarner
Turbo Systems
Ø
Bajaj
Tempo Limited
Ø
Swaraj
Mazda
Ø
Mahindra
Ø
Eicher
Ø
FIXED ASSETS
v
Land
v
Buildings
v
Plant
& Machinery
v
Furniture
v
Vehicles
WEBSITE DETAILS :
ABOUT US
Turbo Energy Limited
(TEL) with a sales turnover exceeding INR. 2,500 million, is
TEL has been able to achieve customer satisfaction by being able to provide
products and services of high quality at globally competitive prices.
The company has made a remarkable impression in the automotive industry within
a short span of time.
In line with the corporate commitments of the TVS Group, TEL has a firm
commitment towards its stakeholders, thereby ensuring sustained growth of the
organization. TEL also recognizes its vendors as partners in progress.
In tune with the corporate ethics and the specific requirements of the
Automotive Industry TEL ensures a fair deal to its Stakeholders, enabling thereby
to add new clients to its ever widening clientele.
Emphasizing team
work, trust and care among the employees, TEL always strives for higher
standards of performance.
PROFILE
TEL was established
in 1982. A joint venture between Brakes 
nle,
K
pp
& Kausch), thereby being part of the TVS conglomerate, TEL is today a
leading Turbocharger supplier to all OEMs operating in
They have a
comprehensive product range which caters to the requirements of passenger cars,
commercial vehicles, off-highway vehicles and stationary engines. Their range of turbochargers is suitable for
engines with displacement from 1.4 lt To 24 lt.
PRODUCTS
In exhaust gas
turbo charging, part of exhaust gas energy, which would normally be wasted is
used to drive a turbine. The turbine shaft is connected to a compressor, which
draws in combustion air, compresses it, and then supplies it to the engine. The
increased air supply enables more fuel to be burnt, hence the engine develops
higher power. Increased air availability improves combustion of fuel, thus
leading to lower fuel consumption and less emission.
The advantages
of modern turbocharged engine, compared to naturally aspirated engines of
identical power output are as follows:
Better Power and
Torque characteristics
Lower emission
Lower weight and a
smaller engine package
Lower fuel
consumption
Lower engine noise
Reduced power loss
at high altitude
As a result, turbochargers
contribute significantly to the protection of the environment and the better
utilization of energy resources.
Construction and Function of a
Turbocharger
A turbocharger comprises of a compressor and a turbine. The turbine and
compressor wheels are mounted on a common shaft. This sub-assembly is known as
the rotor. The rotor is supported by journals housed in the central housing.
The turbocharger turbine consists of the turbine wheel and turbine housing. The
engine exhaust gases are directed to the turbine wheel via. Turbine housing.
The energy available in the exhaust gas is converted into kinetic energy by the
turbine housing and is used for driving the turbine wheel and compressor wheel
as both are mounted on common shaft.
The compressor consists of the compressor wheel and compressor housing.
Whenever the compressor wheel rotates, the air is drawn axially, and delivered
radically at a higher pressure to the intake manifold. Increase in pressure
also results in increase in temperature. To reduce the compressed air
temperature, some of the turbocharged engines use an after cooler.
For reasons of improved drivability, a smaller turbine size is chosen
such that sufficient boost pressure is available at low speeds. In such cases,
part of the exhaust gas is by-passed once the required boost pressure is
reached. This is achieved by opening a valve operated by a spring-loaded
diaphragm (actuator assembly).
Quality System
TEL is a QS – 9000 certified company by Bureau Veritas Quality International.
TEL ensures stringent quality norms are followed so as to deliver the best
products to its customers. This spirit is reflected in the sound quality policy
followed by the company.
Quality Policy
They, at Turbo Energy Limited are committed to total quality. They shall
achieve this by identifying and meeting customer needs which should include his
expectations on quality, delivery and price. They will strive to help preserve
environment through our products.
R % D Centre
One of the key areas of focus for TEL is its sound R&D facilities.
An exclusive Research and Development Centre for manufacturing and developing
the Turbochargers for Internal Combustion Engines is in operation, in Chennai,
Highlights of the centre:
Equipped with two Gas Stands to test the complete characteristics of the
Turbocharger On-line Data Acquisition System to measure, store and analyze all
requisite parameters like Pressures, Temperatures, Air Flow, Oil Flow and
Blow-by. This will ensure error-free acquisition of data
The equipments are capable of handling flow up to 0.8 m3/s and Pressure
Ratio of 4.5:1 with a highly sophisticated Oil-Free Screw Compressor
R & D Centre is also capable of Engine testing and matching the
requisite turbocharger based on customer requirement. The facility has Eddy
Current Dynamometers capable of testing Engines up to 350 kW. This facility
helps in matching the Turbochargers with Engines within the shortest possible
time
Equipped with state of the art Noise Vibration Harshness (NVH)
facilities analysis of the Noise and Vibration aspects of the Turbochargers
Specially built Test Rigs are used for conducting validation and endurance
tests for Turbocharger and its components under cold and hot environment
conditions(-65º C to 800º C)
CADD Centre is equipped with resources to handle various modeling soft
wares like Pro-E, Catia and Unigraphics and AutoCAD 2D. These are used in
preparing 3D models and 2D drawings to help development and manufacturing
R&D Centre is also equipped with ANSYS, a Finite Element Analysis
(FEA) package foe carrying out Static and Dynamic Analysis of Turbocharger
components.
Infrastructure
TEL has a world-class manufacturing facility on a 75 acres complex, 100
km west of Chennai.
Highlights
In this facility, TEL has installed the capability to machine most of
the important and critical components of the turbocharger like compressor
housing, turbine housing, bearing housing, back plate, compressor wheel and
turbine wheel. These installed facilities are capable of machining these
components to Micron accuracies on granite bed CNC machines. Advanced features
are provided in these machines with which variation are avoided in the
components due to atmospheric changes
TEL manufacturing unit has a metrology lab equipped with destructive,
non-destructive, non-contact laser equipments to check/measure the components
To meet the high level of cleanliness standards, the components are
washed in high-pressure systems and preserved with the Rust protective
solutions
TEL has developed a full fledged CAD center. The centre works with
various platforms like CATIA, PRO-E, Unigraphics and mechanical desktop
The entire manufacturing facility is connected by the fibre-optic cables
to transfer data from the machines to the various locations
The critical components are stored in automatic storage system
which ensure first in first out. The storage system is directly connected to
the central network. The stock levels are maintained and the reordering is done
automatically
The assembly of the turbocharger is done in a controlled and dust free
atmosphere. Sensors and controls are provided to ensure proper assembly of the
turbocharger
Cell Concept
The manufacturing facility is arranged in the latest cell-concept. Each
machine and the stations are provided with Poke-Yoke facility to approach a
target of 0 PPM. To ensure excellent performance at high speeds, the turbochargers
are balanced in three stages, the turbine and compressor wheels are balanced
first, and then the assembly is balanced to reach their specified norms.
On time delivery
With the strong manufacturing base TEL exports over 5 million
turbocharger components to European and American markets annually. The
products are delivered just-in-time to the customers from the warehouses
established in both the continents.
Technical Training center
The manufacturing facility is fully supported by the well -trained
workforce. The group runs a school and a technical training centre for the
benefit of employees. The employee’s skill sets are constantly upgraded by
regularly training at the technical school.
Communication and connectivity
Communication is accorded the utmost importance in TEL, and the
manufacturing facility is connected to the outside world by separate broadband
cable, satellite connection which provide the Video and audio conferencing
facility with the rest of the world. Further,
Information System
TEL uses Information Technology
commensurate with Business Needs.
IT Facilities have been provided in all the
manufacturing units and offices.
They are using Lease Line as Primary link and PAMA V-SAT
Technology as a Secondary link, this links the Manufacturing sites with the
Corporate Office. A secured VPN Network through a service provider links all
the Regional Offices.
This Value Added Network with Internet Service,
facilitates e-mail, quick transfer of data, design drawings, stock details,
despatch and payment particulars from any location to another across the Globe.
Customer Support
Customer support at TEL involves education and training, which will
prevent failures/complaints and also extends to provide product service.
The TEL Advantages:
Strong access to world-class technology through collaboration with BWTS
In-house manufacturing and development capability
Ensures swift customer response
These factors enable TEL to offer the best turbo solutions to its customers.
Key feature of TEL in offering excellent customer support is to provide
responsive after market support.
Regional offices in
The after-sales service throughout the country backs up this customer support
network.
Authorised Service Centres:
TEL has a wide network of Trained and Authorised service centres to support the after market requirement of customers. TEL ASC network currently covers all major centres in the country and is growing.
ASC are established and monitored by TEL, they are equipped with all the
necessary tools and equipment's, the technicians are TEL trained and have stock
of TEL genuine parts required for providing quality, efficient, timely and cost
effective service to the customers.
Distribution Network:
A network of 4 Distributors with over 130 branches provides the largest
distribution channel for spares requirement in the after market. These branches
are located in all major towns and potential areas in the Country.
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.41.18 |
|
|
1 |
Rs.82.02 |
|
Euro |
1 |
Rs.56.07 |
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 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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 |
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 |
|