MIRA
INFORM REPORT
|
Report Date : |
07.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
TVS LOGISTICS SERVICES LIMITED |
|
|
|
|
Registered
Office : |
TVS Building, 7-B, West Veli Street, Madurai – 625001, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.11.2004 |
|
|
|
|
Com. Reg. No.: |
18-054655 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.174.122
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63011TN2004PLC054655 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRIT01242D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Logistic Services |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Raghuvanth Ravi |
|
Designation : |
Company Secretary |
|
Date : |
06.12.2011 |
LOCATIONS
|
Registered Office : |
TVS Building, 7-B, West Veli Street, Madurai – 625001, Tamilnadu,
India |
|
Tel. No.: |
91-452-2356400 |
|
Fax No.: |
91-452-2341587 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
58, Eldams Road, TK Kumarasamy Road, Teynampet, Chennai – 600015,
Tamilnadu, India |
|
Tel. No.: |
91-44-66793222 |
|
Fax No.: |
91-44-66793127 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Suresh Krishna |
|
Designation : |
Director |
|
Address : |
79, Poes Gorden, Chennai-600 086, |
|
Date of Birth/Age : |
24.12.1936 |
|
Date of Appointment : |
16.11.2004 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
L35999TN1962PLC004943 |
SUNDRAM FASTENERS LIMITED |
Managing director |
01/07/2011 |
26/08/1964 |
- |
Active |
NO |
|
2 |
U34101TN1929PLC002973 |
T.V. SUNDRAM IYENGAR &
SONS LIMITED |
Director |
25/12/1970 |
25/12/1970 |
- |
Active |
NO |
|
3 |
U27209TN1962PLC004760 |
TVS SEWING NEEDLES LIMITED |
Director |
26/06/1975 |
26/06/1975 |
- |
Active |
NO |
|
4 |
U35999TN1961PLC004678 |
LUCAS TVS LIMITED |
Director |
02/02/1979 |
02/02/1979 |
- |
Active |
NO |
|
5 |
L35999TN1962PLC004792 |
SUNDARAM -CLAYTON LIMITED |
Director |
23/07/2008 |
23/05/1979 |
- |
Active |
NO |
|
6 |
L27100MH1907PLC000260 |
TATA STEEL LIMITED |
Director |
02/03/1994 |
02/03/1994 |
- |
Active |
NO |
|
7 |
U40108TN1994PLC029132 |
SUNDRAM NON-CONVENTIONAL
ENERGY SYSTEMS LIMITED |
Director |
04/11/1994 |
04/11/1994 |
- |
Active |
NO |
|
8 |
U63011TN2004PLC054655 |
TVS LOGISTICS SERVICES
LIMITED |
Director |
16/11/2004 |
16/11/2004 |
- |
Active |
NO |
|
9 |
U65991TN1992PLC022619 |
UPASANA ENGINEERING
LIMITED |
Director |
20/08/2008 |
16/04/2008 |
- |
Active |
NO |
|
Name : |
Mr. Santhanam Ram |
|
Designation : |
Director |
|
Address : |
Old No.29, New No.57, |
|
Date of Birth/Age : |
27.04.1940 |
|
Date of Appointment : |
16.11.2004 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U34101TN1929PLC002973 |
T.V. SUNDRAM IYENGAR &
SONS LIMITED |
Director |
25/12/1970 |
25/12/1970 |
- |
Active |
NO |
|
2 |
U65991TN1943PLC002656 |
SUNDARAM INDUSTRIES
LIMITED |
Director |
14/06/1972 |
14/06/1972 |
- |
Active |
NO |
|
3 |
L35921TN1960PLC004175 |
WHEELS INDIA LIMITED |
Whole-time director |
01/05/2010 |
28/05/1974 |
- |
Active |
NO |
|
4 |
U60221TN1946PLC002582 |
SOUTHERN ROADWAYS LIMITED |
Director |
24/04/1975 |
24/04/1975 |
- |
Active |
NO |
|
5 |
U27209TN1981PLC008630 |
AXLES INDIA LIMITED |
Managing director |
15/11/2008 |
18/02/1981 |
- |
Active |
NO |
|
6 |
L65191TN1954PLC002429 |
SUNDARAM FINANCE LIMITED |
Director |
27/09/1988 |
27/09/1988 |
- |
Active |
NO |
|
7 |
U35202TN1998PLC041466 |
IRIZAR TVS LIMITED |
Director |
05/02/2001 |
05/02/2001 |
- |
Active |
NO |
|
8 |
U63011TN2004PLC054655 |
TVS LOGISTICS SERVICES
LIMITED |
Director |
16/11/2004 |
16/11/2004 |
- |
Active |
NO |
|
9 |
L65991TN1954PLC000958 |
INDIA MOTOR PARTS &
ACCESSORIES LIMITED |
Director |
24/01/2006 |
24/01/2006 |
- |
Active |
NO |
|
Name : |
Mr. Ramachandran Dinesh |
|
Designation : |
Director |
|
Address : |
16, |
|
Date of Birth/Age : |
25.02.1965 |
|
Date of Appointment : |
01.09.2008 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U34101TN1929PLC002973 |
T.V. SUNDRAM IYENGAR &
SONS LIMITED |
Managing director |
01/07/2009 |
27/05/1998 |
- |
Active |
NO |
|
2 |
U72300TN1997PLC039110 |
TVS INTERCONNECT SYSTEMS
LIMITED |
Director |
28/09/1998 |
28/09/1998 |
- |
Active |
NO |
|
3 |
U35202TN1998PLC041466 |
IRIZAR TVS LIMITED |
Director |
23/11/1998 |
23/11/1998 |
- |
Active |
NO |
|
4 |
U63011TN2004PLC054655 |
TVS LOGISTICS SERVICES
LIMITED |
Managing director |
01/09/2008 |
16/11/2004 |
- |
Active |
NO |
|
5 |
U72900TN2007PLC063049 |
India Telecom Infra
Limited |
Director |
09/04/2007 |
09/04/2007 |
04/03/2008 |
Active |
NO |
|
6 |
U65921TN2007PLC063294 |
NSM Holdings Limited |
Director |
27/04/2007 |
27/04/2007 |
- |
Active |
NO |
|
7 |
U45200MH2005PLC154628 |
TVS Infrastructure Limited |
Director |
24/09/2007 |
30/04/2007 |
- |
Active |
NO |
|
8 |
U63010TN2007PLC064282 |
TVS DYNAMIC GLOBAL FREIGHT
SERVICES LIMITED |
Director |
19/07/2007 |
19/07/2007 |
- |
Active |
NO |
|
9 |
U60200TN2008PLC068631 |
TVS COMMUTATION SOLUTIONS
LIMITED |
Director |
21/07/2008 |
21/07/2008 |
- |
Active |
NO |
|
10 |
U51220MH1944PLC004124 |
THE ASSOCIATED AUTO PARTS
LIMITED |
Director |
29/09/2008 |
01/09/2008 |
- |
Active |
NO |
|
11 |
U50102MH2009PTC195226 |
FIXALL AUTOMOTIVE SERVICES
PRIVATE LIMITED |
Director |
25/08/2009 |
25/08/2009 |
- |
Active |
NO |
|
12 |
U60100TN2010PLC074341 |
TVS GMR AVIATION LOGISTICS
LIMITED |
Director |
22/01/2010 |
22/01/2010 |
- |
Active |
NO |
|
13 |
U34100TN2009PLC071439 |
TVS AUTOMOBILE SOLUTIONS
LIMITED |
Director |
13/12/2010 |
12/11/2010 |
- |
Active |
NO |
|
14 |
U60200TN2009PLC071624 |
TVS RHR FINISHED VEHICLES
LOGISTICS SOLUTIONS LIMITED |
Director |
29/09/2011 |
29/12/2010 |
- |
Active |
NO |
|
15 |
U65100TN2011PTC083208 |
DINRAM HOLDINGS PRIVATE
LIMITED |
Director |
18/11/2011 |
18/11/2011 |
- |
Active |
NO |
|
Name : |
Mr. Gopal Srinivasan |
|
Designation : |
Director |
|
Address : |
Old No.2, New No.3, West Side Houses, Adyar Club, Gate Road
Chennai-600 028, Tamilnadu, India |
|
Date of Birth/Age : |
04.08.1958 |
|
Date of Appointment : |
05.08.2005 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U34101TN1929PLC002973 |
T.V. SUNDRAM IYENGAR &
SONS LIMITED |
Director |
31/08/1979 |
31/08/1979 |
- |
Active |
NO |
|
2 |
U65991TN1943PLC002656 |
SUNDARAM INDUSTRIES
LIMITED |
Director |
31/08/1979 |
31/08/1979 |
- |
Active |
NO |
|
3 |
L35999TN1962PLC004792 |
SUNDARAM -CLAYTON LIMITED |
Director |
18/08/2008 |
29/11/1985 |
- |
Active |
NO |
|
4 |
U65191TN1994PLC028851 |
TVS INVESTMENTS LIMITED |
Managing director |
26/04/2010 |
25/05/1995 |
- |
Active |
NO |
|
5 |
U35999TN1961PLC004678 |
LUCAS TVS LIMITED |
Director |
28/03/1996 |
28/03/1996 |
- |
Active |
NO |
|
6 |
U30007TN1997PTC038151 |
HARITA ELECTRONICS PRIVATE
LIMITED |
Director |
09/05/1997 |
09/05/1997 |
- |
Active |
NO |
|
7 |
U65191TN1998PLC039853 |
TVS FINANCE AND SERVICES
LIMITED |
Director |
19/01/1999 |
19/01/1999 |
- |
Active |
NO |
|
8 |
U72200MH1989PLC166901 |
ICICI VENTURE FUNDS
MANAGEMENT COMPANY LIMITED |
Director |
12/07/1999 |
12/07/1999 |
28/07/2008 |
Active |
NO |
|
9 |
L35921TN1992PLC022845 |
TVS MOTOR COMPANY LIMITED |
Director |
27/01/2000 |
27/01/2000 |
14/08/2008 |
Active |
NO |
|
10 |
U30006TN1996PLC035418 |
HARITA TECHSERV LIMITED |
Director |
05/12/2001 |
05/12/2001 |
- |
Active |
NO |
|
11 |
L30007TN1995PLC032941 |
TVS ELECTRONICS LIMITED |
Nominee director |
23/10/2008 |
18/07/2003 |
- |
Active |
NO |
|
12 |
U65993TN2004PLC054696 |
SUNDARAM INVESTMENT
LIMITED |
Director |
22/11/2004 |
22/11/2004 |
- |
Active |
NO |
|
13 |
U72900MH2001NPL133410 |
MEDIA LAB ASIA |
Director |
28/12/2004 |
28/12/2004 |
24/03/2011 |
Active |
NO |
|
14 |
U63011TN2004PLC054655 |
TVS LOGISTICS SERVICES
LIMITED |
Director |
05/08/2005 |
05/08/2005 |
- |
Active |
NO |
|
15 |
U80301TN2004NPL052529 |
GREAT LAKES INSTITUTE OF
MANAGEMENT |
Director |
19/01/2007 |
19/01/2007 |
03/05/2011 |
Active |
NO |
|
16 |
U72500TN2007PLC063540 |
TVS-E SERVICETEC LIMITED |
Director |
29/08/2008 |
17/05/2007 |
- |
Active |
NO |
|
17 |
U72200TN2007PLC064091 |
HARITA ACADEMY LIMITED |
Director |
28/08/2008 |
25/06/2007 |
- |
Active |
NO |
|
18 |
U65991TN2007PLC064133 |
TVS CAPITAL FUNDS LIMITED |
Managing director |
06/06/2008 |
28/06/2007 |
- |
Active |
NO |
|
19 |
U67190MH2005PLC153819 |
MILESTONE CAPITAL ADVISORS
LIMITED |
Director |
28/06/2007 |
28/06/2007 |
20/04/2009 |
Active |
NO |
|
20 |
U72900TN2007FTC065500 |
GrandTech India Private Limited |
Director |
26/11/2007 |
26/11/2007 |
21/09/2011 |
Active |
|
|
21 |
U74140TN2004PTC052667 |
CROSS CREEK CHANNEL INVESTMENT
ADVISORS PRIVATE LIMITED |
Director |
05/08/2009 |
10/05/2008 |
- |
Active |
NO |
|
22 |
U22300DL2007PTC167650 |
NINE DOT NINE MEDIAWORX
PRIVATE LIMITED |
Nominee director |
10/10/2008 |
10/10/2008 |
12/05/2010 |
Active |
NO |
|
23 |
U70109MH2006PLC160918 |
LANDMARK LIMITED (PART IX) |
Director |
17/08/2010 |
04/11/2009 |
- |
Active |
NO |
|
24 |
U93000KA2008PTC046355 |
NEXTWEALTH ENTREPRENEURS
PRIVATE LIMITED |
Director |
11/02/2010 |
11/02/2010 |
- |
Active |
NO |
|
25 |
U85110TN2010PTC075352 |
MEDFORT HOSPITALS PRIVATE
LIMITED |
Additional director |
22/11/2010 |
22/11/2010 |
19/01/2011 |
Active |
NO |
|
26 |
U15499DL2005PTC139631 |
OM PIZZAS AND EATS INDIA
PRIVATE LIMITED |
Director |
24/12/2010 |
24/12/2010 |
- |
Active |
NO |
|
27 |
U55101MH2010PTC209517 |
Indian Cookery Private
Limited |
Nominee director |
01/03/2011 |
01/03/2011 |
- |
Active |
NO |
|
28 |
U74900TN2011PLC083371 |
SUNDARAM ENGINEERING
PRODUCTS SERVICES LIMITED |
Director |
01/12/2011 |
01/12/2011 |
- |
Active |
NO |
|
Name : |
Mr. Tarun Khanna |
|
Designation : |
Director |
|
Address : |
66, Druid Hill road, |
|
Date of Birth/Age : |
09.05.1966 |
|
Date of Appointment : |
21.11.2007 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U63011TN2004PLC054655 |
TVS LOGISTICS SERVICES
LIMITED |
Director |
22/09/2008 |
21/11/2007 |
- |
Active |
NO |
|
2 |
L65999AP2003PLC041732 |
SKS MICROFINANCE LIMITED |
Director |
07/08/2008 |
01/02/2008 |
- |
Active |
NO |
|
3 |
U74999AP2000PTC035826 |
GVK BIOSCIENCES PRIVATE
LIMITED |
Director |
03/07/2009 |
19/07/2008 |
- |
Active |
NO |
|
Name : |
Mr. Sanjeev kishen Mehra |
|
Designation : |
Director |
|
Address : |
44, |
|
Date of Birth/Age : |
07.01.1958 |
|
Date of Appointment : |
25.08.2010 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
L24223PB1988PLC008031 |
MAX INDIA LIMITED |
Director appointed in
casual vacancy |
30/07/2010 |
30/07/2010 |
- |
Active |
NO |
|
2 |
U63011TN2004PLC054655 |
TVS LOGISTICS SERVICES
LIMITED |
Director |
29/09/2010 |
25/08/2010 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Raghuvanth Ravi |
|
Designation : |
Company Secretary |
|
Address : |
B4, Vaigai Vilas, |
|
Date of Birth/Age : |
20.10.1954 |
|
Date of Appointment : |
08.09.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
T V Sundram Iyengar and
Sons Limited |
12000000 |
|
Ms Indu Ramachandhran |
25000 |
|
Sri R Haresh |
41600 |
|
Sri R Naresh |
39400 |
|
Ms Shobhana Ramachandhran |
28200 |
|
Sri R Dinesh |
44300 |
|
Sri R Haresh |
67600 |
|
Sri Srinath R Rajam |
66660 |
|
Ms Anita R Ratnam |
8120 |
|
Ms Pritha Ratnam |
54120 |
|
Sri Suresh Krishna |
125000 |
|
Sri K Ramesh |
125000 |
|
Sri K Mahesh |
125000 |
|
Sri S Ram |
23250 |
|
Ms Gita Ram |
23500 |
|
Ms Nivedita Ram |
23500 |
|
Sri Srivats Ram |
23500 |
|
Sri S Viji |
31250 |
|
Sri Harsha Viji |
31250 |
|
Sri Sriram Viji |
31250 |
|
Ms Vijaya Rangarajan |
46750 |
|
Sri Arjun Rangarajan |
47000 |
|
Sri Srikanth Ramanujam |
31250 |
|
Sri Ananth Ramanujam |
31250 |
|
Sri Srikanth Ramanujam
& Sri Ananth Ramanujam |
31250 |
|
Ms Lakshmi Venu |
46880 |
|
Sri Sudarshan Venu |
46870 |
|
Sri Gopal Srinivasan |
93750 |
|
Dr Malini Srinivasan |
93750 |
|
Sri T K Arvind Balaji |
46870 |
|
Ms Sheela Balaji |
46880 |
|
G S Logistics Holdings
Limited |
4825530 |
|
TVS Shriram Growth Fund I |
241270 |
|
Sri R Dinesh |
385800 |
|
Sri S Murali |
7000 |
|
Sri Muthukumaran S |
2500 |
|
Sri Shukla Anay Prabhakar |
10000 |
|
Sri Harinath Chakravarthy
C |
2500 |
|
Sri R B Chandran |
1500 |
|
Sri V Shankar |
5000 |
|
Sri S V Nana Rau |
2000 |
|
Sri Balraj Vasudevan |
5000 |
|
Sri J Arun |
6000 |
|
Sri T Srinivasan |
2000 |
|
Sri S Santhanagopalan |
4000 |
|
Sri N Krishnamoorthy |
4000 |
|
Sri K V Balasubramanian |
2000 |
|
Sri Raghunath Ravi |
103456 |
|
Mr Mohr Holger |
3922 |
|
Mr David Martinez Balsa |
3922 |
|
Ms Sandra Juani Solans |
2500 |
|
Sri S Ravichandran |
195400 |
|
Sri Thangaraj Chinnadurai |
15000 |
|
Sri Subramanian M V |
20000 |
|
Sri Sundaramoorthy P |
10000 |
|
Sri Tapan Roy |
20000 |
|
Sri H Janaarduna Iyer |
20000 |
|
Sri B Ganapathi Sarma |
20000 |
|
Sri Raghunath Ravi |
10000 |
|
Sri J Shyamsunder |
7500 |
|
Sri B Subramanian |
7000 |
|
Sri N Nagesh |
7000 |
|
Sri Ramesh Padmanabhan |
7000 |
|
Ms Nirmala Devi J |
6000 |
|
Sri Balaji C S |
6000 |
|
Sri Murali V |
6000 |
|
Sri Karthikeyan S |
6000 |
|
Sri Nagendra Prasad V |
10000 |
|
Sri Ramesh V |
10000 |
|
Sri Ramaswamy V |
4000 |
|
Sri Giridharan V |
4000 |
|
Sri Ranjith Kumar T S |
2000 |
|
Sri Ramakanth R V |
2000 |
|
Col. Neeraj |
5000 |
|
Sri Purushothama Reddy K
G |
2000 |
|
Sri Sundaravelu P |
2000 |
|
Sri Aravind Sairam PK |
1500 |
|
Ms Swarna S |
1500 |
|
Sri Sriraman Sundaresan |
1500 |
|
Sri Ajay Kumar Sandil |
1500 |
|
Sri Rajagopal R |
3000 |
|
Sri Sree Kumar A S |
3000 |
|
Sri Ramachandran R |
3000 |
|
Sri Sachin Taparia |
5000 |
AS ON 29.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
25.74 |
|
Bodies
corporate |
|
65.24 |
|
Directors
or relatives of directors |
|
5.89 |
|
Other
top fifty shareholders |
|
3.12 |
|
Other
|
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Logistic Services |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
State Bank of India, Commercial Branch, 6A, West Veli Street, Madurai - 625001,
Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
|
|
|
|
|
Holding Company: |
· T V Sundram Iyengar and Sons Limited |
|
|
|
|
Subsidiaries (including step down subsidiaries) : |
·
TVS Dynamic Global Freight Services
Limited ·
TVS Commutati n Solutions Limited ·
TVS Automotive Europe Limited, ·
TVS Logistics Siam Limited, ·
TVS Logistics Investment UK Limited, ·
Yelestre Holdings Limited, ·
Multipart (Holdings) Limited, ·
Multipart Solutions Limited, ·
MSys Software Solutions Limited, ·
IH Crick Property Co Limited, ·
Globe Dynamics Limited, ·
Globe Transport Products Limited, ·
TVS CJ Components Limited, ·
TVS Logistics ·
TVS Autoser V |
|
|
|
|
Fellow subsidiaries : |
·
Sundaram Industries Limited ·
Lucas TVS Limited ·
Lucas Indian Service Limited ·
Southern Roadways Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity shares |
Rs.10/- Each |
Rs.300.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12150000 |
Equity shares |
Rs.10/- Each |
Rs.121.500
millions |
|
5066800 |
Equity shares |
Rs.10/- Each |
Rs.50.668
millions |
|
390800 |
Equity shares |
Rs.10/- Each |
Rs.3.908
Millions |
|
275800 |
Equity shares |
Rs.10/- Each |
Rs.2.758
millions |
|
310400 |
Equity shares |
Rs.10/- Each |
Rs.3.104
millions |
|
|
|
|
|
|
|
Total |
|
Rs.181.938 Millions |
Called, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17216800 |
Equity shares |
Rs.10/- Each |
Rs.172.168
Millions |
|
977000 |
Equity shares |
Rs.2/- Each |
Rs.1.954
millions |
|
|
|
|
|
|
|
Total |
|
Rs.174.122 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
174.122 |
174.122 |
172.168 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1056.526 |
1030.573 |
1003.709 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1230.648 |
1204.695 |
1175.877 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
478.881 |
356.886 |
112.322 |
|
|
2] Unsecured Loans |
100.000 |
101.760 |
219.661 |
|
|
TOTAL BORROWING |
578.881 |
458.646 |
331.983 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1809.529 |
1663.341 |
1507.860 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
466.970 |
409.013 |
163.907 |
|
|
Capital work-in-progress |
0.000 |
58.941 |
54.478 |
|
|
|
|
|
|
|
|
INVESTMENT |
430.724 |
215.756 |
183.983 |
|
|
DEFERREX TAX ASSETS |
12.912 |
12.032 |
8.571 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.613
|
2.583 |
0.000 |
|
|
Sundry Debtors |
792.934
|
527.496 |
601.737 |
|
|
Cash & Bank Balances |
201.255
|
367.835 |
569.800 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
424.024
|
370.268 |
222.962 |
|
Total
Current Assets |
1420.826
|
1268.182 |
1394.499 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
429.156
|
258.102 |
266.469 |
|
|
Other Current Liabilities |
58.212
|
22.165 |
22.212 |
|
|
Provisions |
34.535
|
20.316 |
8.897 |
|
Total
Current Liabilities |
521.903
|
300.583 |
297.578 |
|
|
Net Current Assets |
898.923
|
967.599 |
1096.921 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1809.529 |
1663.341 |
1507.860 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2736.553 |
2429.900 |
2241.554 |
|
|
|
Other Income |
18.627 |
26.785 |
2.492 |
|
|
|
TOTAL (A) |
2755.180 |
2456.685 |
2244.046 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee costs |
560.198 |
448.519 |
288.949 |
|
|
|
Operating, Administrative and other Expenses |
2010.411 |
1855.392 |
1821.023 |
|
|
|
Prior Period Items |
0.000 |
14.513 |
0.000 |
|
|
|
TOTAL (B) |
2570.609 |
2318.424 |
2109.972 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
184.571 |
138.261 |
134.074 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.525 |
46.231 |
56.922 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
131.046 |
92.030 |
77.152 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
66.449 |
31.708 |
22.605 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
64.597 |
60.322 |
54.547 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
24.431 |
28.389 |
23.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.166 |
31.933 |
30.959 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
103.017 |
81.347 |
67.594 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.016 |
3.193 |
3.136 |
|
|
|
Interim Dividend Paid |
0.000 |
0.000 |
6.000 |
|
|
|
Proposed Dividend |
12.188 |
6.043 |
6.026 |
|
|
|
Tax on Dividend |
2.024 |
1.027 |
2.044 |
|
|
BALANCE CARRIED
TO THE B/S |
124.955 |
103.017 |
81.347 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
28.542 |
12.345 |
6.880 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
1.073 |
49.420 |
48.005 |
|
|
|
Capital Goods |
0.353 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
1.426 |
49.420 |
48.005 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
2.31 |
1.85 |
2.57 |
|
|
|
Diluted |
2.06 |
1.72 |
2.57 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.46
|
1.30 |
1.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.36
|
2.48 |
2.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.42
|
3.60 |
3.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.05 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.89
|
0.63 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.72
|
4.22 |
4.69 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND
Subject
was incorporated on 16 November 2004 and is in the business of providing
logistic services. The Company has been providing the entire basket of
logistics services including aftermarket warehouse, in-plant warehouse, global
supply chain management services, domestic supply chain management services and
material handling services. The registered office of the Company is situated at
TVS Building, 7-B,
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U63011TN2004PLC054655 |
|
Name of the company |
TVS LOGISTICS
SERVICES LIMITED |
|
Address of the registered office or of the
principal place of business in |
TVS Building, 7-B, West Veli Street, Madurai-625 001, |
|
This form is for |
Modification of charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of charge holder |
STATE BANK OF INDIA |
|
Nature of instrument creating charge |
1. Supplemental Agreement of loan for
increase in the overall limit - Form C1A dated 20.12.2010 2. Supplemental agreement of Hypothecation
of goods and assets for increase in the overall limit - Form C2A dated
20.12.2010 3. Letter regarding the grant of
individual limits within the overall limit - Form C5 dated 20.12.2010 |
|
Date of instrument Creating the charge |
20/12/2010 |
|
Amount secured by the charge |
Rs.960.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Cash Credit - 4.00% above Base rate
(presently 12.00% p.a.) Term Loan - 4.50% above Base rate (presently
12.50% p.a.) Terms of Repayment 1. Cash Credit of Rs.400.000 Millions and
BG (WC) of Rs 50.000 Millions and LOC of Rs 210.000 Millions - Repayable on
Demand 2. Term Loan of Rs 300.000 Millions -
There is no change in the existing sanction stipulated. Margin Receivables (cover period - 90 days) - 25% BG (WC) - 10% Extent and Operation of the charge CC - First Charge on the entire
receivables and other Current Assets and Second charge on fixed assets
acquired out of term loans; TL - First Charge on fixed assets acquired out of
term loan and second charge on the receivables; BG (WC) - Counter Guarantee
from the company and charge over Current Assets. LC - Counter Guarantee from
the company and extension of charge over current assets and fixed assets
already charged to us. |
|
Short particulars of the property charged |
Current assets (receivables) and Fixed
assets acquired out of term loan |
|
Date of instrument modifying the charge |
06/02/2009 |
|
Particulars of the present modification |
The overall limit is increased to Rs
960.000 Millions. [CC - Rs 400.000 Millions, Term Loan - Rs 300.000 Millions,
Bank Guarantee (WC) - Rs 50.000 Millions, Letter of Comfort - Rs 210.000
Millions]. |
|
This form is for |
Modification of charge
|
|
Charge
identification number of the modified |
80015153 |
|
Corporate
identity number of the company |
U63011TN2004PLC054655 |
|
Name of the
company |
TVS LOGISTICS
SERVICES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
TVS Building, 7-B, West Veli Street, Madurai-625 001, |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
State Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
supplemental
agreement of loan for increase in the overall limit dated 06/02/09 |
|
Date of
instrument Creating the charge |
06.02.2009 |
|
Amount secured by
the charge |
Rs.803.900
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash credit
-12.25% p.a. Term Loan I -
12.25% p.a. Corporate Loan II
- 12.25% p.a. Term Loan II -
12.50% Terms of
Repayment Term
Loan/Corporate Loan repayable in 9 installments and Term Loan - II repayable
in Fifty Seven installments. Margin Cash credit - 25% BG (WC) - 10% Term Loan - II /
LC (CG) - 27.71% Letter of Credit
(CG) - 10% Extent and
Operation of the charge CC-Hypothecation
of receivables &other Current assets and second charge on the Fixed assets
acquired out of Term loan; Term Loan-First charge on the Fixed assets created
out of Term loan and second charge on the receivables; Corporate
Loan-Extension of first charge on Fixed assets acquired out of Term Loan;
LC-Document of title to goods covered by the LC & charge on Fixed assets;
BG (WC)-Counter Guarantee from the Company and charge over Current assets. |
|
Short particulars
of the property charged |
Current assets
(receivables) and Fixed assets to be acquired. |
|
Date of latest
modification prior to the present modification |
15.02.2008 |
|
Particulars of
the present modification |
The overall limit
increased to Rs.803.900 millions. CC-Rs.250.000 millions (sub limit Rs 3.000
millions) Term Loan I-Rs.16.800 millions Corporate Loan I-Rs. 7.100
millions Corporate Loan-Rs 80.000
millions Term Loan II-Rs 300 millions (LC one time Rs 110 millions) LC-Rs 100 millions BG(WC) - Rs 50 millions. |
FIXED ASSETS:
·
Plant and machinery
·
Computers
·
Office equipment
·
Furniture and fixtures including racks
·
Vehicles
·
Software
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.51.39 |
|
|
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.68.92 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.