MIRA
INFORM REPORT
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Report Date : |
06.10.2007 |
IDENTIFICATION DETAILS
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Name : |
TATA AUTOCOMP
SYSTEMS LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
17.10.1995 |
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Com. Reg. No.: |
11-93733 |
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CIN No.: [Company
Identification No.] |
U34100MH1995PLC093733 |
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Legal Form : |
A Closely Held Public Limited Liability
Company |
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Line of Business : |
Subject
is engaged in the business of Moduling & Painting of Plastic components
& assemblies for Automotive Industry |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 12000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
member company of Tata Group. It is not
faring well and reported to have substantial accumulated losses. The company can
be considered normal for business dealing as it is a Tata Group Company,
country’s premiere industrial house |
LOCATIONS
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Registered
Office : |
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Tel. No.: |
91-22-22049131/56658282 |
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Fax No.: |
91-22-22845523/56658160 |
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E-Mail : |
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Website : |
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Corporate
Office : |
1ST
Floor, Beck House, Damle Path, Off |
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Tel. No.: |
91-20-25438500 |
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Fax No.: |
91-20-25438499 |
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E-Mail : |
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Factory 1 : |
Muttha Chambers,
3rd Floor, |
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Tel. No.: |
91-20-25672782 /
25660691 |
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Fax No.: |
91-20-25660699 |
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Cell No. : |
91-9822094703 |
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Factory 2 : |
Plot 28, Bidadi
Industrial Area, Ramnagar, |
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Overseas
Office : |
35488 Crescent Court, |
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Tel. No.: |
1-248-4744607 |
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Fax No.: |
1-248-4744668 |
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Branches : |
Located at:- v
v
Vadodara,
v
Mumbai,
v
Pune,
v
v
v
Chennai,
Tamilnadu |
DIRECTORS
|
Name : |
Mr. Ratan Naval Tata |
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Designation : |
Chairman and Managing Director |
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Address : |
202 A, |
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Date of Birth/Age : |
28.12.1937 |
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Date of Appointment : |
29.05.1997 |
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Name : |
Mr. Satish Bhaskar Pradhan |
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Designation : |
Director |
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Address : |
NCPA |
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Date of Birth/Age : |
04.01.1955 |
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Date of Appointment : |
03.05.2002 |
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Name : |
Mr. Richard Alan Normal Derek Rosling |
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Designation : |
Director |
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Address : |
9 Hill Park, A G |
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Date of Birth/Age : |
16.08.1962 |
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Date of Appointment : |
03.05.2002 |
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Name : |
Mr. Devender S. Gupta |
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Designation : |
Managing Director |
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Address : |
Panarama Co-operative Housing Society, Ground Floor, 203, |
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Date of Birth/Age : |
19.03.1950 |
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Date of Appointment : |
14.04.1997 |
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Name : |
Mr. Kishor Anant Chaukar |
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Designation : |
Director |
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Address : |
21-A, The Peregrine Apartments, |
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Date of Birth/Age : |
01.08.1947 |
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Date of Appointment : |
30.09.1999 |
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Name : |
Mr. R Gopalkrishnan |
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Designation : |
Director |
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Address : |
Baug – E, Abbas Flat No. 101, Captain Prakash peth Marg, 21/A, Cuffe
Parade, Mumbai – 400005, |
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Date of Birth/Age : |
25.12.1945 |
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Date of Appointment : |
27.06.2001 |
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Name : |
Mr. Rajendra Ramdas Bhinge |
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Designation : |
Director |
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Address : |
83 Land Mark, |
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Date of Birth/Age : |
04.11.1951 |
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Date of Appointment : |
30.07.2004 |
KEY EXECUTIVES
|
Name : |
Mr. T. A. Ramkumar |
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Designation : |
Company Secretary |
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Address : |
C-11, Maurya Co-operative Housing Society, |
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Date of Birth/Age : |
29.12.1965 |
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Date of Appointment : |
11.10.1996 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Equity
Shares |
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Tata Industries
Limited |
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57704086 |
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Dilip S. Pendse |
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50 |
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Farookh K.
Kavarana |
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150 |
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Devender S. Gupta |
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50 |
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Noshir Jal Driver |
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50 |
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Tata Motors Limited |
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83867086 |
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Tata Investment Corporation Limited
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2266712 |
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Tata Sons Limited |
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23896332 |
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Names of Shareholders |
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No. of
Preference Shares |
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Tata Investment Corporation Limited
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15000000 |
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Tata Motors Limited |
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21000000 |
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Syamal Gupta Joint With Chandra Gupta |
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500000 |
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Trent Limited |
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500000 |
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Ratan Tata |
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3000000 |
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R K Krishnakumar |
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500000 |
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Noshir Soonawala |
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2000000 |
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Simone Tata |
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500000 |
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Ramabadran Gopalkrishnan Joint With Geeta Gopalkrishnan |
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500000 |
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Tata Iron and Steel Company Limited |
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7000000 |
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Tata Infotech Limited |
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5000000 |
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Wadia Neville Nusli |
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5000000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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99.99 |
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Directors or relatives of directors |
|
0.01 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject
is engaged in the business of Moduling & Painting of Plastic components
& assemblies for Automotive Industry |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Bankers : |
State Bank of Industrial Finance Branch, Tara Chambers, Wakadewadi, Pune – 411003, |
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Banking Relations
: |
Satisfactory |
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Financial Institution : |
Housing Development Finance Corporation Limited HDFC House, 1500 Shivajinagar, |
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Auditors : |
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Name : |
Ratan S. Mama and
Company Chartered Accountants |
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Address : |
Ambit RSM House, 449, Senapati Bapat Marg, Lower Parel, Mumbai –
400013, |
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Associates : |
» Tata Johnson Controls In colaboration with Johnson Control Inc., -
for manufacturing
seating systems and engineering seating systems design systems » Tata Auto Plastic Systems In colaboration with -
for
manufacturing plastic interiors, plastic exterior air vents » Tata Toyo Radiator In colaboration with Toyo Radiator, -
for
manufacturing engine cooling » Tata Yazaki Automotive In colaboration with Yazaki Corporation, -
for
manufacturing wiring harness » Tata Ficosa Autocomp In colaboration with Ficosa International, -
for manufacturing
mirrors, control cables, sunvisors, gear shifters, windshield washer systems » Tata Nifco Fasteners In colaboration with -
for
manufacturing plastic fasteners » JBM Tools Limited In colaboration with JBMT, -
for
manufacturing sheet metal, exhaust system » JBM Sungwoo Limited In colaboration with -
for
manufacturing sheet metal stampings and assemblies » TC Springs Limited In colaboration with Chuo Hatsuo Kabushiki Kaishya, -
for
manufacturing suspension springs » Automotive Composite Systems International In colaboration with Owens Corning, USA -
for
manufacturing SMC Components » Tata Yutaka In colaboration with Yutaka Giken Company Limited, -
for
manufacturing Exhaust systems » Knorr Bremse Systems for Commercial
Vehicles In colaboration with -
for
manufacturing air breaking systems |
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Subsidiaries : |
v
Tata
Toyo Radiator Limited [CIN No.: U99999MH1997PTC110139] v
Tata
Auto Plastic Systems Limited v
Taco
Mobiapps Telematics Limited [CIN No.: U32109PN2005PLC020334] v
Taco
Holding [ v
Taco
Kunststoffechnik GMBH v
Taco
Grundstuckverwaltungs GmBH v
Automotive
Composite Systems (International) Limited [CIN No.: U34300PN2000PLC015253] v
Automotive
Stampings and Assemblies Limited [CIN No.: L28932PN1990PLC016314] |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
170,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1700.000 millions |
|
70,000,000 |
Preference Shares
|
Rs. 10/- each |
Rs. 700.000 millions |
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Total
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Rs. 2400.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
167,734,516 |
Equity Shares |
Rs. 10/- each |
Rs. 1677.345 Millions |
|
70,000,000 |
Preference Shares
|
Rs. 10/- each |
Rs. 700.000 millions |
|
|
Total |
|
Rs. 2377.345 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2377.345 |
2377.345 |
1480.010 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
671.588 |
356.354 |
70.978 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
(291.250) |
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NETWORTH |
3048.933 |
2733.699 |
1259.738 |
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LOAN FUNDS |
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|
|
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1] Secured Loans |
734.525 |
509.941 |
447.583 |
|
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2] Unsecured Loans |
380.000 |
0.000 |
423.466 |
|
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TOTAL BORROWING |
1114.525 |
509.941 |
871.049 |
|
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DEFERRED TAX LIABILITIES |
72.110 |
34.215 |
0.000 |
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TOTAL |
4235.568 |
3277.855 |
2130.787 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1201.132 |
749.394 |
123.015 |
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Capital work-in-progress |
213.048 |
235.378 |
19.505 |
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INVESTMENT |
2150.436 |
1801.367 |
1757.491 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
428.610
|
221.530 |
63.451 |
|
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Sundry Debtors |
307.304
|
357.408 |
126.101 |
|
|
Cash & Bank Balances |
144.892
|
255.147 |
34.103 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
651.960
|
354.279 |
129.690 |
|
Total
Current Assets |
1532.766
|
1188.364 |
353.345 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Current Liabilities |
750.887
|
640.917 |
117.839 |
|
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Provisions |
110.927
|
56.630 |
4.729 |
|
Total
Current Liabilities |
861.814
|
697.547 |
122.568 |
|
|
Net Current Assets |
670.952
|
490.817 |
230.777 |
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.899 |
0.000 |
|
|
|
|
|
|
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TOTAL |
4235.568 |
3277.855 |
2130.787 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
2440.189 |
2367.368 |
441.985 |
|
|
Other Income |
254.167 |
206.114 |
113.268 |
|
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Total Income |
2694.356 |
2573.482 |
555.253 |
|
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|
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Profit/(Loss) Before Tax |
445.306 |
346.065 |
93.869 |
|
|
Provision for Taxation |
77.333 |
39.303 |
22.257 |
|
|
Profit/(Loss) After Tax |
367.973 |
306.762 |
71.612 |
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Earnings in Foreign Currency : |
|
|
|
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Total Earnings |
NA |
241.812 |
42.867 |
|
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Imports : |
|
|
|
|
|
|
Raw Materials |
NA |
60.695 |
|
|
|
Stores & Spares |
NA |
14.995 |
2.893 |
|
|
Capital Goods |
NA |
14.982 |
|
|
Total Imports |
NA |
90.672 |
2.893 |
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Expenditures : |
|
|
|
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|
|
Raw Material Consumed |
1069.721 |
914.230 |
0.000 |
|
|
Increase/(Decrease) in Finished Goods |
[187.368] |
9.600 |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
315.585 |
249.741 |
0.000 |
|
|
Payment to Auditors |
1.492 |
2.116 |
0.000 |
|
|
Interest |
44.774 |
96.796 |
64.856 |
|
|
Insurance Expenses |
7.490 |
10.060 |
0.000 |
|
|
Power & Fuel |
51.027 |
46.456 |
0.000 |
|
|
Depreciation & Amortization |
122.641 |
95.119 |
16.107 |
|
|
Other Expenditure |
823.688 |
803.299 |
380.420 |
|
Total Expenditure |
2249.050 |
2227.417 |
461.383 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
13.66
|
11.92 |
12.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.25
|
14.62 |
21.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.29
|
17.86 |
19.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.13 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.65
|
0.44 |
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78
|
1.70 |
2.88 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges Report as per Registry
|
Name of the
company |
TATA AUTOCOMP SYSTEMS LIMITED |
|
Presented By |
Mr. T. A.
Ramkumar, Secretary |
|
1) Date and
description of instrument creating the change |
Mortgage has been
created by deposit of title documents on 28.08.2000. being an oral equitable
mortgage, no instrument in writing has been executed. Original charge
registered at Sr. No. 22 dated 05.09.2000 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 81.100
Millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Land bearing survey
No. 279, 280, 281 situated at Village Mann, Talluka Mulshi Pune and
Construction thereon present and future. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The principal
amount together with interest and all related dues is payable on or before
31.07.2007. Interest is
payable quarterly at the rate of SBIPLR + 0.75 % |
|
5) Name and
Address and description of the person entitled to the charge. |
Housing
Development Finance Corporation Limited HDFC House, 1500
Shivajinagar, |
|
6) Date and brief description of instrument
modifying the charge |
First
Modification : No Objection
Letter dated January 20, 2004 releasing of charge over 10 acres of land out of
the land bearing S No. 279 situated at Village Mann, Hinjewadi, Pune more
particularly described in the schedule to the No Objection Letter the
repayment of principal amount of loan of Rs. 23.000 Millions thereby reducing
the amount secured by charge to Rs. 58.100 Millions Modification
registered at sr. No. 71 dated 23.04.2004. Second
Modification No Objection
Letter dated May 14, 2004, releasing of charge over 2.75 acres of land out of
the land bearing S No. 279 situated at Village Mann, Hinjewadi, Pune more
particularly described in the schedule to the No Objection Letter the
repayment of principal amount of loan of Rs. 5.638 Millions thereby reducing
the amount secured by charge to Rs. 52.462 Millions Modification
registered at sr. No. 72 dated 23.07.2004. Present
Modification No Objection
Letter dated October 27, 2004, releasing of charge over 2.65 acres of land
out of the land bearing S No. 280 / 281 situated at Village Mann, Hinjewadi,
Pune more particularly described in the schedule to the No Objection Letter
the repayment of principal amount of loan of Rs. 5.638 Millions |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
|
|
This form is for |
Modification / Creation of charge |
|
Corporate
identity number of the company |
U34100MH1995PLC093733 |
|
Name of the
company |
TATA AUTOCOMP
SYSTEMS LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
State Bank of Industrial Finance Branch, Tara Chambers, Wakadewadi, Pune – 411003, |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum for recording creation of mortgage by deposit of title
deeds |
|
Date of
instrument Creating the charge |
11.01.2007 |
|
Amount secured by
the charge |
Rs. 1142.400
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per Sanction
Letter Terms of
repayment As per Sanction
Letter Margin As per Sanction
Letter Extent operation
of the charge First charge
holder : State Bank of Second charge
holder : State Bank of |
|
Short particulars
of the property charged |
|
Website
Details
Overview
A recent
joint study by the Confederation of Indian Industry and McKinsey contends that
TACO is
part of the Tata Group —
TACO
serves every OEM in
The
company has built strong manufacturing facilities in partnership with global
and Indian companies to supply auto components to the Indian and global
automotive industry. It also offers automotive companies in
The
The
shackles have been broken, the potential is being exploited and manufacturing
in
The
reasons for
A
recent joint study by the Confederation of Indian Industry and McKinsey
contends that
An
established raw materials base and growing domestic demand are further factors
that endow
Though
a good amount of media coverage - and investment - is being focused on
Automobiles
and Auto Components are two of the most dynamic manufacturing sectors in
The country today boasts of 12 Commercial & Utility Vehicle Manufacturers,
12 Tractor Manufacturers, 11 Passenger Car Manufacturers, 10 wo wheeler
manufacturers, 3 Three wheeler Manufacturers and nearly 7 Earth Moving
Equipment Manufacturers.
The
Indian auto-components industry is well positioned in terms of diversification,
skills, price and quality to cater to global supply chains. Approvals for
foreign direct investments in the industry are automatic and exports from the
country are exempt from tax. The industry already exports close to 50 per cent
of its production and is aiming at reaching much greater heights.
Simply
put, having come of age and found its feet, manufacturing in
Milestones
2002 March Joint Venture Agreement for
Tata Knorr Bremse
2002 February Date of SOP for Tata Yutaka
Autocomp Limited
2001
March Date of SOP for Automotive Composite
Systems (International) Private Limited
2000 December Joint Venture Agreement
for Tata Yutaka Autocomp Limited
2000 January Date of SOP for Tata Yutaka Autocomp
Limited
2000 January Date of SOP for Tata Toyo
Radiator Limited
1999
January Date of SOP for Tata Auto Plastic Systems
Limited – Moulding Shop
1999 May Joint Venture Agreement
for Automotive Composite Systems (International) Private Limited
1999 June
Date of SOP for Tata Auto Plastic
Systems Limited –Paint Shop
1999 July Date
of SOP for Tata Auto Plastic Systems Limited
1999 July Date of SOP for Tata
Ficosa Automotive Systems Limited - Mirrors
1998 September Date
of SOP for Tata Ficosa Automotive Systems Limited - Cables
1998 December Joint
Venture Agreement for Tata Chuo Springs Limited
1998 June Joint Venture Agreement for
JBM Tools Limited
1998 August Joint
Venture Agreement for Tata Toyo Radiator Limited
1998 August Joint
Venture Agreement for JBM Sungwoo Limited
1997 August Joint
Venture Agreement for Tata Yazaki Autocomp Limited
1997 October Joint
Venture Agreement for Tata Ficosa Automotive Systems Limited
1997 November Joint Venture Agreement for Tata Nifco Fasteners
Limited
1996 October Date
of SOP for Tata Johnson Controls Automotive Limited
1995 December Joint Venture Agreement for Tata Johnson
Controls Automotive Limited
Subject is a
technology company in the automotive sector and has built its base through
partnerships with global component and vehicle manufacturers.
Subject’s revenue
streams for the year 2003-04 mainly comprised :
- Engineering Services
- Supply Chain Management and Logistics
Services
- Tooling Sales
- Administrative Service Fees from Joint
Venture Companies and
- Dividends from Joint Venture Companies
Subject posted a
net profit of Rs. 71.600 millions, after writing off a deferred tax credit of
Rs. 17.250 millions, which was accounted for in the previous year. The write
off was necessitated due to a new guideline on the interpretation of the
Accounting Standard for treatment of deferred taxes.
Subject believes
that its business model and strategy are unique and ideally placed to be a
global sourcing partner :-
- Strong relationships with global
automakers and Tier I suppliers. It is actively involved in all the global
sourcing activities of both the automakers and Tier I Suppliers.
- An integrated business model of
manufacturing, engineering, tooling, outsourcing and program management.
- The Tata name enjoys a brand image in
the global automotive business, as a leading Indian industrial group and
also as a major auto-maker in
- The Tata Group has a strong presence in
IT, telecom and electronics through TCS, Tata Technologies, CMC, VSNL and
TTSL.
For almost every
customer, the value of the supplies per vehicle from the company’s business
units has been increasing with every new program. Hence, it is a strong
contender for almost all the new programs being launched in
- For the New Honda City, subject has the
radiator, wiring harness, fabricated exhaust manifold, catalytic,
converter, gear shifter and plastic components. In the previous City,
subject only has the radiator business.
- For the GM Tavera, subject has the
wiring harness, sheet metal components, control cables, plastic
components, radiator, coil springs business. This is much higher in value
content per vehicle compared to General Motors previous two programs-Astra
and Corsa.
- Subject is seeing similarly higher
value content per vehicle in the Toyota IMV program compared to the
earlier two programs-Qualis and Corolla.
- Subject has
made progress in a similar way with Ford and Fiat.
Subject has
developed a new Performance Management System and is planning to deploy it in
2004-05. The Leadership system is under development and is expected to be
implemented by the second half of 2005-06.
With the growing
size of operations, subject believes that industrial relations should be
another core focus area. During the year, subject is planning several
initiatives to strengthen its internal communication systems across the shop
floors.
It is in trade
terms with :-
» Johnson Controls,
»
»
» Toyo Radiator,
» Yazaki Corporation,
» CHKK,
» Ficosa International,
»
»
» Krupp Camford,
»
» Owens Corning,
»
The company’s fixed
assets of important value include freehold land, office equipments, furniture,
fittings, and vehicles.
Established in October 1995 by the Tata Group with the aim
of participating in and catalysing the modernisation of the Indian automotive
components industry, the TACO group of companies offers a range of products and
services in the field of auto components to automotive vehicle manufacturers.
TACO's
corporate functions support all business units. The group comprises Tata
AutoComp Systems Limited (TACO), its joint ventures with global auto component
leaders and two subsidiaries in the plastics and stampings product areas.
The
TACO group, with its 24 manufacturing plants, 5 engineering centres and three
export-oriented units, is rapidly expanding its business with vehicle
manufacturers and Tier I suppliers to the automotive industry. Its current OE
customers include DaimlerChrysler, Fiat, Ford, General Motors, Honda, Hyundai,
Mahindra and Mahindra, Piaggio, Tata Motors,
The group has the largest base of engineers doing design
work for global automotive customers. It is using this base to continuously
expand into new product and service areas, and aims to be among the top 100
global auto component companies by 2008 with a turnover of over $1 billion, and
exports comprising 50 per cent of its turnover.
TACO's manufacturing business includes partnerships with
global leaders (detailed below) as well as companies that are fully or almost
fully owned by TACO. They are constantly reviewing and reinvigorating their
capabilities in manufacturing, design and engineering and outsourcing to serve
their customers and partners. TACO has also been successful in shifting plant
and equipment from high cost zones like Europe to
|
|
Name of company |
Partners |
Product area |
|
1. |
Automotive Composite Systems International (ACSI) |
Owens |
SMC (sheet moulded composites) |
|
2. |
Automotive Stampings and Assemblies (ASAL) |
TACO-owned |
Stampings and assemblies |
|
3. |
Knorr Bremse Systems for Commercial Vehicles (KBSCV) |
|
Braking systems for commercial vehicles for commercial
vehicles |
|
4. |
TACO Engineering |
TACO-owned |
Automotive systems |
|
5. |
TACO FAURECIA Design Centre (TFDC) |
|
Engineering design services |
|
6. |
TACO Hendrickson Suspension Systems (THSL) |
Hendrickson International, |
Suspension systems |
|
7. |
TACO Interiors and Plastics Division (TACO-IPD) |
|
Plastic interiors & exteriors, air vents |
|
8. |
TACO MobiApps Telematics Limited (TMTL) |
|
Vehicle tracking systems |
|
9. |
TACO Supply Chain Management (TACO SCM) |
TACO-owned |
Automotive components |
|
10. |
TACO Tooling (TTBU) |
TACO-owned |
Different dies used in vehicle exterior and interior
panels |
|
11. |
Tacokunstsofftechnik (TKT) |
TACO-owned |
Plastic interiors and exteriors |
|
12. |
Tata Ficosa Automotive (TF) |
|
Rear view mirrors, control cables, gear shifter, parking
brake system, windshield washer system |
|
13. |
Tata Johnson Controls Automotive Limited (TJCAL) |
Johnson Controls, |
Seating systems |
|
14. |
Tata Toyo Radiator (TTR) |
T.Rad, Japan, Mitsubishi Corporation Non Ferrous (MCNF) |
Intercoolers, heater core, condensors |
|
15. |
Tata Visteon Automotive |
TACO-owned |
High mount stop lamp, rear combination lamp, headlamp,
park turn lamp, fog lamp |
|
15. |
Tata Yazaki Autocomp (TYA) |
Yazaki Corporation, |
Wiring harness |
|
16. |
TC Springs (TCS) |
Chuo |
Coil springs, torsion bars and stabliser bars |
|
17. |
Technical Stampings Automotive Limited (TSAL) |
SungWoo Hi-Tech Company Limited, |
Stampings and assemblies |
TACO's range of engineering services includes:
- Concept design
- Detailed engineering, and
- Product validation
With a
presence in
Details
of engineering services operations are as follows:
Company and partner
- Tata Johnson Controls - Johnson Controls
- TACO Engineering - TACO owned
- TACO Tooling - TACO owned
- TACO FAURECIA Design Centre - Faurecia
- TACO Visteon Engineering Centre - Visteon Corporation
- TACO IPD Technical Centre
Supply chain management business group
This business group provides cost-effective total
procurement services to global automotive companies from
- Development and supply of components with full QCD responsibility,
to global automotive customers, through qualified Indian component
manufacturers.
- End-to-end logistics management
- Vendor development and other component sourcing services for
automotive companies.
Press
Releases
TACO Tech Show staged at Chery Automobile,
1
Feb 2007
TATA
AutoComp Systems Limited had been invited to showcase TACO's technologies and manufacturing
capabilities at Chery Automobile on 26 Jan 2006 in
The Tech show has impressed Chery Automobile and it has
expressed keen interest in TACO's products and technology.
About
Tata AutoComp Systems Limited (TACO)
Tata AutoComp Systems Limited (TACO), promoted by the Tata
Group is amongst
With
23 facilities, including 15 manufacturing plants, four engineering centres and
three export oriented units and operations in Europe, US and
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.39.49 |
|
|
1 |
Rs.80.41 |
|
Euro |
1 |
Rs.55.76 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|