MIRA
INFORM REPORT
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Report Date : |
28.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
L AND T FINANCE LIMITED |
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Registered Office : |
L&T House, Ballard Estate, Mumbai-400 001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.11.1994 |
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Com. Reg. No.: |
083147 |
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CIN No.: [Company
Identification No.] |
U65990MH1994PLC083147 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMLO4806E |
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PAN No.: [Permanent
Account No.] |
AAACL1079R |
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Legal Form : |
A closely held Public Limited Liability Company |
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Line of Business : |
Subject is a Non Banking Finance Company Providing Leasing and hire purchase
services. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 15108000 |
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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 and a part of Larsen
and Tourbo Group. The company is progressing well. Directors are reported as experienced
and respectable businessmen. Trade relations are reported as fair. Business
is active. Payments are usually correct and as per commitments. Fundamentals are strong and healthy. The company can be considered normal for business dealings at usual
trade terms and conditions. The company can be regarded as promising business partner in a medium
to long-run. |
LOCATIONS
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Registered Office : |
Ballard Estate, Mumbai;400001, Maharashtra, India |
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E-Mail : |
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Corporate Office : |
3B, Laxmi Towers, C-25, 'G'
Block, Bandra-Kurla Complex, Bandra (E), Mumbai -400 051. |
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Tel. No.: |
91-22- 67569800 |
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Fax No.: |
91-22-67569898 |
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Account Office : |
"H" Wing, 1st Floor, Tex Cetre, Off Saki Vihar Road,
Chandivali, Andheri (E), Mumbai - 400 072. |
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Tel. No.: |
91-22-2847 4400 |
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Fax No.: |
91-22 2847 0404 |
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Back office : |
802, Swastik Chambers, 8 th Floor, CST Road, Chembur, Mumbai -400 071 |
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Tel. No.: |
91-22- 5575 2700 |
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Fax No.: |
91-22-2527 2210 |
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Branches : |
Located at: Ahmedabad, Ambala, Bangalore, Barbil, Bhopal,
Bhubaneshwar, Calicut, Chandigarh, Chennai, Coimbatore, Durgapur, Goa,
Guwahati, Hazira, Hubli, Hyderabad, Jaipur, Jalandhar, Kansbahal(Rourkela),
Karimnagar, Kochi, Kolkata, Latur, Lucknow, Madurai, Nagpur, Nashik, Nellore,
New Delhi, Pune, Raipur, Rajkot, Rourkela, Salem, Sambalpur, Sindhanpur,
Surat, Trichy, Trivandrum, Vadodara, Vidisha, Vijayawada, Vishakhapatnam. |
DIRECTORS
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Name : |
Mr. R Shankar Raman |
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Designation : |
Director |
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Name : |
Mr. Y M Deosthalee |
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Designation : |
Director |
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Name : |
Mr. N Sivaraman |
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Designation : |
Director |
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Name : |
Mr. S Raghavan |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. S Krishna Kumar |
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Designation : |
Secretary |
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Name: |
Mr. Dinanath Dubhashi |
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Designation : |
VP- Retail Financing and Distribution Group |
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E-mail : |
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Name: |
Mr. V Ramesh |
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Designation : |
VP –Enterprise Finance Group |
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E-mail : |
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Name: |
Mr. Anil Kalra |
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Designation : |
General Manager – HRD (Financial Services) |
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E-mail: |
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Name: |
Mr. V Rajagopalan |
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Designation : |
Treasurer (Financial Services) |
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E-mail: |
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Name: |
Mrs. Dipti Advani |
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Designation : |
VP-Credit, Research and Functional Training |
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E-mail: |
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Name : |
Mr. Suresh Vishwanathan |
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Designation : |
VP-Audit and Compliance |
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E-mail : |
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Name: |
Ms. Raji Vishwanathan |
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Designation : |
Chief Legal Advisor – Financial Services |
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E-mail : |
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Name : |
Mr. Anil Vaidya |
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Designation : |
AVP- Retail Financing and Distribution |
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E-mail: |
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Name: |
Mr. G K Shettigar |
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Designation : |
AVP-Treasury |
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E-mail: |
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Name: |
Mr. Pramod Pradhan |
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Designation : |
AVP – Administration |
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E-mail : |
BUSINESS DETAILS
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Line of Business : |
Subject is a Non Banking Finance company Providing Leasing and hire
Purchase Services. |
GENERAL
INFORMATION
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No. of Employees : |
305 |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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124191500 |
Equity Shares |
Rs.10/- each |
Rs.1241.915
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1241.900 |
991.900 |
866.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2535.200 |
1159.100 |
472.700 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3777.100 |
2151.000 |
1339.600 |
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LOAN FUNDS |
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1] Secured Loans |
12092.800 |
5787.00 |
2772.200 |
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2] Unsecured Loans |
13350.400 |
5518.500 |
4420.700 |
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TOTAL BORROWING |
25443.200 |
11305.500 |
7192.900 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
29220.300 |
13456.500 |
8532.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3408.000 |
1995.800 |
1240.400 |
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Capital work-in-progress |
302.700 |
236.100 |
269.700 |
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INVESTMENT |
457.200 |
116.100 |
623.500 |
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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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Other Current Assets |
904.000
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616.500
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527.600 |
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Loans & Advances |
25895.400
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11439.900
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6571.500 |
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Total
Current Assets |
26799.400
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12056.400
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7099.100 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1747.000
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947.900
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700.200 |
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Provisions |
0.000
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0.000
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0.000 |
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Total
Current Liabilities |
1747.000
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947.900
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700.200 |
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Net Current Assets |
25052.400
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11108.500
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6398.900 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
29220.300 |
13456.500 |
8532.500 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
2687.300 |
1447.400 |
1095.900 |
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Other Income |
66.500 |
67.100 |
4.500 |
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Total Income |
2753.800 |
1214.500 |
1100.400 |
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Profit/(Loss) Before Tax |
770.500 |
427.000 |
260.300 |
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Provision for Taxation |
144.300 |
75.700 |
20.000 |
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Profit/(Loss) After Tax |
626.200 |
351.300 |
240.300 |
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Expenditures : |
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Administrative Expenses |
295.300 |
185.200 |
234.600 |
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Interest |
1355.900 |
708.100 |
471.00 |
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Depreciation & Amortization |
332.100 |
194.200 |
134.500 |
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Total Expenditure |
1983.300 |
1087.500 |
840.100 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
22.73 |
28.92 |
21.83 |
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Net Profit Margin (PBT/Sales) |
(%) |
28.67 |
29.50 |
23.75 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.87 |
3.54 |
3.66 |
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Return on Investment (ROI) (PBT/Networth) |
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0.20 |
0.19 |
0.19 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.46 |
0.44 |
0.52 |
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Current Ratio (Current Asset/Current Liability) |
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14.33 |
11.71 |
9.13 |
LOCAL AGENCY
FURTHER INFORMATION
Operations:
The last twelve months witnessed substantial
growth in income, profits and assets. Excellent growth in GDP, buoyant stock
market conditions and improved corporate performance has spurred business for
the company during the year.
The company registered significant growth in
disbursements all its business segments and is confident of continuing to show
growth in its operations during the coming years.
RE-CLASSIFICATION OF THE COMPANY AS AN “ASSET FINANCE COMPANY (AFC)”:
Based on the revised regulatory framework
prescribed by Reserve Bank of India (RBI) for NBFCs, the company was
re-classified under the category “Asset Finance Company-Non Deposit Taking”. A
fresh certificate of registration has been obtained from RBI.
Resources:
During the year under review, Larsen and
Toubro (L&T), the holding company, had subscribed to 25000000 Equity Shares
of Rs.10/- each, at a premium of Rs.30/- per Share. This resulted in increase
of equity share capital and share premium by Rs. 250.000 Millions and
Rs.750.000 Millions, respectively.
The company has borrowed on different
instruments from various sources for varying tenors. The total debt raised and
repaid during the year were Rs. 68080.000 Million and Rs.53930.000 Millions
respectively. The quantum of long-term loans raised during the year was
Rs.8440.000Millions
History:
Subject is one of the wholly owned subsidiaries of Larsen and Toubro. It
was incorporated as a Non Banking Finance Company in November 1994.
Through, Subject L and T aim at making a strong foray in the
ever-increasing financial services sector. Subject offers a spectrum of
financial products and services for trade, industry and agriculture. The
company’s focus segments are corporate products, construction equipment, CVs
and tractors.
Despite the turbulence in the financial services markets over the past
few years, subject has adapted well to the changing market dynamics to remain
consistently profitable. Like the rest of the companies in Land T Group,
subject is also professionally managed.
Subject shares the professional values and ethos of its parent company,
and has acquired and maintained a reputation for reliability, transparency of
operations and absolute integrity. A steady growth rate validates the trust
that industry has reposed in the company.
BRANCHES:
Ahmedabad
608, Sakar-III, Opp. Old High Court, Behind C U Shah College,
Off Ashram Road, Near Income Tax Crossroad, Ahmedabad,
Tel : 91-79-66066510
Fax : 91-79-66066500
Mr. Arvind Handa
E-mil : arvindhanda@ltfinance.com
Ambala
2nd Floor, Showrrom No. 10,
Mahesh Nagar, Main Road,
Ambala Cantonment,
Haryana-133 001
Tel : 91-171-2652882
Mr. Rajesh Kumar Pahuja
E-mail : rajeshkumar@ltfinance.com
Bangalore
4th Floor, Prestige Complex,
No. 2, Church Street,
Bangalore-560 001,
Tel: 91-80-40340000
Fax : 91-80-40340206
Ms. Amrita Peshin
E-mail: amritapeshin@ltfinance.com
Barbil
Panchabati,
Barbil-Joda Highway,
Near Utkal Automobiles Limited,
Barbil-758 035, Dist – Keonjhar,
Orissa
Mr. Balaram Barick
E-mail: balaramvbarick@ltfinance.com
Bhopal
C/o Larsen & Toubro Ltd.,
131/1, Zone -11, M.P. Nagar,
Bhopal – 462 011.
Madhya Pradesh
Tel No: 91-755-527 7587
Fax No: 91-755-527 7587
Mr. Jayesh Towari
E-mail: jayesh@ltfinance.com
Bhubaneshwar
C/O Larsen and Turbo Limited
559, Lewis Road,
Bhubaneshwar- 751 014
Tel: 91-674-2537707
Fax: 91-674-2537307
Mr. Debasish Banerjee
E-mail: dbanerjee@ltfinance.com
Calicut
IIIrd Floor, Parco Complex,
18/194, Kallai Road,
Calicut-673 002
Mr. M Madhusudhanan
E-mail: mmadhusudhanan@ltfinance.com
Chandigarh
S.C.O. 32, Sector 26 D,
Madhya Marg, Chandigarh-160 019
Tel: 91-172-2790509 / 2794184
Fax: 91-172-2792764 / 2790509
Mr. Rajesh Kumar Pahuja
E-mail: rajeshkumar@ltfinance.com
Chennai
No. 9, Adwave Towers,
T Nagar, Chennai-600 017
Tel: 91-44-42129076
Fax: 91-44-42129078
Mr. T Venkatasubramanian
E-mail: venkatasubramanian@ltfinance.com
Chennai
No.10, Club House Road,
Anna Salai, Chennai-600 002,
Tel: 91-44-28462172
Fax: 91-44-28462329
Mr. R Sathyanarayanan
E-mail: rsathya@ltfinance.com
Coimbatore
Kovai Towers, 2nd Floor, 44,
Balasundaram Road (R T O Office Road),
Coimbatore-641 018
Mr. V S Prabhakaran
E-mail: vsprabhakaran@ltfinance.com
Durgapur
A 1/11, Astraunaut Avenue,
Bidhan Nagar,
Durgapur – 713 212.
Tel. No. 91-343-2536778
Fax. 91-343-253 6493
Mr. Ashesh Saha
e-mail: ashesaha@ltfinance.com
Goa
Naik Villa, 5th Floor,
Dr. Dada Vaidya Road,
Opp. Sakhardande Appt.
Panjim, Goa-403 001
Tel: 91-832-2422719
Fax: 91-832-2422720
Mr. Venunath Kanonkar
E-mail: venunath@ltfinance.com
Guwahati
Larsen and Toubro Limited
Milanpur Road, Bamuni Maidan
Guwahati-781 021
Tel: 91-361-2653673
Fax: 91-361-2551308
E-mail: Karen@ltfinance.com
Hazira
HED – Hazira Works. Administration
ADM Block, Ground Floor, Surat, Hazira Road,
P O Bhatha, Dist Surat – 394 510, Gujarat
Tel: 91-261-2860345-360 Extn: 5573
Fax: 91-261-2862114 / 2861997
Mr. Mohd Dhupli
E-mail: mohammeds@ltfinance.com
Hubli
W B Plaza, 2nd Floor,
New Cotton Market,
Hubli-580 029,
Mr. Kushal Mathad
E-mail: kushalmathad@ltfinance.com
Hyderabad
502, 5th Floor, Dega Towers,
Rajbhavan Road, Somajiguda,
Hyderbad-500 082
Tel: 91-40-40034121
Fax: 91-40-23394394
Mr. Kishore Mangalvedhe
E-mail: kishorem@ltfinance.com
Jaipur
D-24, Prithvi Raj Road,
C-scheme, Jaipur
Tel: 91-141-4027888 / 5102802
Fax: 91-141-2373280
Mr. Abhay Singh
E-mail: abhaysingh@ltfinance.com
Jalandhar
Second Floor, S C O 3 Puda,
Near Bus Stand, G T Road, Jalandhar,
Punjab-1144001
Tel: 91-181-2226744
Fax: 91-181-2226744
Mr Naresh Kumar Thakur
E-mail: nareshthakur@ltfinance.com
Kansbahal(Rourkela)
C/O- Larsen and Toubro Limited
At & Po Kansbahal, Near Water Tank,
Dist. Sundergarh, Orissa-770017
Tel: 91-6624-280241 / 280573 (ext. 5179)
Fax: 91-6624-280243
Mr. Tushar Agrawal
E-mail: tusharagrawal@ltfinance.com
Karimnagar
H No. 8-6-300/1,
First Floor, Patel Complex, Hyderabad Road
Kothirampur, Karimanagar-505 001
Tel: 91-878-6450994
Fax: 91-878-2277660
Mr. Srinivas Reddy S
E-mail: srinivasreddy@ltfinance.com
Kochi
Skybright Buildings, M G Road,
Ravipuram Junction, Ernakulam, Kochi-682 016,
Tel: 91-484-301335
Fax: 91-484-3013358
Mr. P Rajesh Kumar
E-mail: prajesh@ltfinance.com
Kolkata
Larsen and Toubro Limited
3 B, Shakespeare Sarani,
Kolkata – 700 071.
Tel. No. 91-33- 2282 3551
Fax. 91-33- 2282 7419
Mr. Arkaprabha Chakrabarty
E-mail: arka@ltfinance.com
Latur
1st Floor, Behind Hotel Panchvati,
Tilaknagar, Latur (M S)-413 512
Tel: 91-2382-251158
Fax: 91-2382-251158
Mr. Ashish Agrawal
E-mail: ashishagrawal@ltfinance.com
Lucknow
C/o Larsen & Toubro Ltd.,
A-28, Indira Nagar, Faizabad
Road,
Lucknow – 226 016.
Tel: 91-522-4001472
Fax: 91-522-2311671
Mr. Anupam Sukhija
E-mail: anupamsukhija@ltfinance.com
Madurai
# 489, Vinayaga Nagar Colony,
K K Nagar, Madurai-625 020
Mr. M Muthukumasran
E-mail: mmuthukumaran@ltfinance.com
Nagpur
C/o Larsen & Toubro Ltd.,
8 B Farmland, Ramdaspeth,
Nagpur – 440 010.
Tel. No. 91-712-242 0649/ 242 0634
Fax. 91-712-242 0618
Mr. Giri Ayyar
E-mail: vgiri@ltfinance.com
Nashik
Shop No. 10, Kapadia Commercial Complex,
Opp. Janlaxmi Bank (H O), Old Agra Road,
Nashik-422 001
Tel: 91-253-6611791
Fax: 91-253-6611792
Mr. Uday Dhote
E-mail: udaydhote@ltfinance.com
Nellore
26-II-1375, 2nd Floor,
Upstairs of Bhagyalaxmi Automobiles,
Venkata Reddy Nagar, Vedayapalem,
Nellore-524 004
Tel: 91-861-6451253
Fax: 91-861-2332966
Mr. Sudhakar Pujari
E-mail: pujarisudhakar@ltfinance.com
New Delhi
211-213, Ansal Chamber-II
2nd Floor, ,Bhikaji Cama Place,
New Delhi-110 066, India
Tel: 91-11-26164293 / 26164294
Fax: 91-11-26164264
Mr. Biswajit Samant
E-mail: biswajitsamant@ltfinance.com
Pune
C/O Larsen and Toubro Limited
191/1, Dhole Patil Road,
Pune – 411 001.
Tel. No. 91-20-26114008
Fax: 91-20-26114008
Mr. Jaideep Sahasrabuddhe
E-mail: sjaideep@ltfinance.com
Raipur
4/91, 2nd Floor, Dr. Naidu Complex,
Jail Road, Raipur (C G)-492 009,
Tel: 91-771-4044496 / 6454881
Fax: 91-771-4044496
Mr. Om Prakash Tiwari
E-mail: omprakash@ltfinance.com
Rajkot
C/O Larsen and Toubro Limited
#701, Aalap – B, Opp. Shastry Maidan,
Limda Chowk, Rajkot-360 001, Gujarat
Tel: 91-281-6620789
Fax: 91-281-2465028
Mr. Satish Chaudary
E-mail: satishchaudary@ltfinance.com
Rourkela
Larsen and Toubro Limited
Sector 19, Rourkela 769 005, Orissa,
Tel:91-661-2648968
Fax: 91-661-2642005
Mr. Jagadish Jana
E-mail: jagadish@ltfinance.com
Salem
8/150-D, Manimegalai Street,
Fairlands, Salem-636 016
Tel: 91-427-4040945
Fax: 91-427-4040945
Mr. B Muthukumar
E-maul: bmuthukumar@ltfinance.com
Sambalpur
Jagadamba Complex
Opp. Professor’s Colony,
Budharaja, Sampbalpur-768 004
Tel:91-663-2520067
Fax: 91-663-2520067
Mr. Alok Bhowmick
E-mail: alokbhowmick@ltfinance.com
Sindhanpur
House No. 6-1-2128 (N),
Sheshasayana Complex, 2nd Floor,
Gangavathi Road, Opp. Indian Oil Petrol Pump,
Po Sindhanpur, Dist-Raichur,
State- Karnataka-584 128
Tel: 91-8535-230074
Mr. Srinivasa Murthy N
E-mail: srinivasamurthy@ltfinance.com
Surat
Larsen and Toubro Limited
3rd Floor, Vishwakarma Chambers, Mahura Gate,
Ring Road, Surat-395 002
Tel: 91-261-2473726 / 2478601
Fax: 91-261-2477078
Mr. Nilay Shah
E-mail: nilayshah@ltfinance.com
Trichy
C-142, Jaishri Towers,
Room No. 2, IIIrd Floor, 6th Cross Road,
Thillai Nagar, Trichy-620 018,
Tel: 91-431-2741061
Mr. B Sridhar
E-mail: bsridhar@ltfinance.com
Trivandrum
Utahardam Properties
3rd Floor, Sation Road,
Thriuvananthapuram-695 001
Mr. P Rajesh Kumar
E-mail: prajesh@ltfinance.com
Vadodara
Larsen and Toubro Limited
Radhadaya Complex, Nr. Manisha Chokdi,
J P Road, Baroda-390 015,
Tel: 91-265-6640318
Fax: 91-265-2336184
Mr. Bhautik Rathod
E-mail: bhautikrathod@ltfinance.com
Vidisha
10, II-Floor, City center,
Ward No. 27, Hospital Road,
Vidisha-434 001
Madhya Pradesh
Tel: 91-7592-408447
Mr. Jitendra Bhadoriya
E-mail: jitendrapratap@ltfinance.com
Vijayawada
Door No. 40-5-6/1, Brindavan Colony,
Tickle Road, Labbipeta, Vijayawada-520 010
Ph. No. 91-866-6668529
Fax: 91-866-2485274
Mr. M S Rao
E-mail: msrao@ltfinance.com
Vishakhapatnam
D No. 48-8-16, Dwarakanagar
Vishakhapatnam-530 016
Tel: 91-891-6620405
Fax: 91-891-6620416
Mr. R Murali Mohan
E-mail: muralimohan@ltfinance.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.39.47 |
|
UK Pound |
1 |
Rs.77.98 |
|
Euro |
1 |
Rs.57.92 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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. |
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 |
|