MIRA
INFORM REPORT
|
Report Date : |
06.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
TATA CAPITAL LIMITED |
|
|
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Registered
Office : |
One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai – 400001, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.03.1991 |
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Com. Reg. No.: |
11-60670 |
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CIN No.: [Company Identification
No.] |
U65990MH1991PLC060670 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP08794C |
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PAN No.: [Permanent Account No.] |
AADCP9147C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject Offers Fund and Fee-Based Financial Services. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 87000000 |
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|
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Tata Sons Limited. Its 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Saheb |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-22-65251585 |
|
Date : |
05.01.2011 |
LOCATIONS
|
Registered Office : |
One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai – 400001, |
|
Tel. No.: |
91-22-67459000 |
|
Fax No.: |
91-22-66106722 |
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E-Mail : |
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|
Website : |
DIRECTORS
(AS ON 06.09.2010)
|
Name : |
Mr. Farrokh Kaikhushru Kavarana |
|
Designation : |
Director |
|
Address : |
CCI Chambers, 5th Floor, |
|
Date of Birth/Age : |
17.03.1944 |
|
Date of Appointment : |
13.04.2007 |
|
|
|
|
Name : |
Mr. Ishaat Rayasat hussain |
|
Designation : |
Director |
|
Address : |
222-A, NCPA Apartments, Nariman Point, Mumbai – 400021, |
|
Date of Birth/Age : |
02.09.1947 |
|
Date of Appointment : |
13.04.2007 |
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|
|
|
Name : |
Mr. Farokh Nariman Subedar |
|
Designation : |
Director |
|
Address : |
1, |
|
Date of Birth/Age : |
24.09.1955 |
|
Date of Appointment : |
11.03.1997 |
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|
|
|
Name : |
Mr. Hoshang Noshirwan Sinor |
|
Designation : |
Director |
|
Address : |
764-F, |
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Date of Birth/Age : |
05.12.1944 |
|
Date of Appointment : |
17.06.2008 |
|
Email : |
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|
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|
Name : |
Mrs. Janki Amarnath Ballabh |
|
Designation : |
Director |
|
Address : |
Flat No.605, Versova Vinayak CHS., Near Versova, Telephone Exchange,
Versova, Andheri (West), Mumbai – 400053, |
|
Date of Birth/Age : |
24.10.1942 |
|
Date of Appointment : |
17.06.2008 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Praveen Purshottam Kadle |
|
Designation : |
Director |
|
Address : |
224, NCPA Apartment, Nariman Point, Mumbai – 400021, |
|
Date of Birth/Age : |
21.01.1957 |
|
Date of Appointment : |
13.04.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Shailesh Harishchandra Rajadhyaksha |
|
Designation : |
Company Secretary |
|
Address : |
Hill View, 1st Floor, |
|
Date of Birth/Age : |
04.11.1951 |
|
Date of Appointment : |
02.01.2008 |
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|
|
Name : |
Mr. Saheb |
|
Designation : |
Finance Controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 06.09.2010)
|
Names of Shareholders |
No. of Shares |
Nominal Value
(Rs.) |
Total Paid –up
Value of Shares Held (Rs.) |
|
EQUITY SHARES |
|
|
|
|
Tata Sons Limited |
1605030020 500000000 |
10 10 (Rs.2/- Paid
up) |
16050300200 1000000000 |
|
Tata sons Limited J/w Mr. Manoj Kumar CV |
110 |
10 |
1100 |
|
Tata sons Limited J/w Mr. F. N. Subedar |
110 |
10 |
1100 |
|
Tata sons Limited J/w Mr. K R Bhagat |
110 |
10 |
1100 |
|
Tata sons Limited J/w Mr. E. N. Kapadia |
105 |
10 |
1050 |
|
Tata sons Limited J/w Mr. F K Kavarana |
110 |
10 |
1100 |
|
Tata sons Limited J/w Mr. Ishaat Hussain |
105 |
10 |
1050 |
|
Tata Investment Corporation Limited |
65000000 |
10 |
650000000 |
|
Trustees of TCL Employee Welfare Trust |
50678174 |
10 |
506781740 |
|
Employees |
12721826 |
10 |
127218260 |
|
|
|
|
|
|
Total |
2233430670 |
|
18334306700 |
|
|
|
|
|
|
0.1% Non
cumulative Compulsorily Convertible Class A Preference Shares: |
|
|
|
|
Travorto Holdings Limited |
317587500 |
10 |
3175875000 |
|
|
|
|
|
|
Total |
317587500 |
|
3175875000 |
|
|
|
|
|
|
Total Paid-Up
Capital |
2551018170 |
|
21510181700 |
(AS ON 15.09.2010)
|
Names of Allottes |
|
No. of Shares
Allotted |
|
|
|
|
|
Travorto Holdings Limited, |
|
317587500 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
96.55 |
|
Directors or relatives of directors |
|
0.05 |
|
Other top fifty shareholders |
|
3.07 |
|
Others |
|
0.33 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject Offers Fund and Fee-Based Financial Services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged by the Management. |
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Bankers : |
§
Reserve Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
§
IL and FS Trust Company Limited IL and FS Financial Centre, Plot No.C-22 G Block, Bandra Kurla
Complex, Bandra east, Mumbai – 400051, Maharashtra, India |
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
12, |
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Tel. No.: |
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Holding Company : |
§
Tata Sons Limited CIN No.: U99999MH1917PLC000478 |
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|
Associates : |
§
e-Nxt Financials
Limited §
Hemisphere
Properties India Limited §
Quikjet Cargo
Airlines Private Limited §
Tata AutoComp
Systems Limited §
Precision Camshafts
Limited §
Tata Capital Special
Situation Fund |
|
|
|
|
Subsidiaries : |
§ Tat Capital Markets Limited U65923MH2007PLC176158 § Tata Securities Limited U67120MH1994PLC080918 § Tata Capital Housing Finance Limited U67190MH2008PLC187552 § TC Travel and Services Limited U63040MH2008PLC187559 § T Sec Commodities Broking Limited U51109MH2009PLC189466 §
Tata Capital Pte. Limited ( §
Tata Capital Advisors Pte. Limited ( § Tata Capital Markets Pte. Limited § Tata Capital Plc (w.e.f. November 10, 2009) § T Sec Commodities Broking Limited, (w.e.f. October 26, 2009) |
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|
|
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Fellow Subsidiaries : |
§
Tata Sky Limited §
Tata Teleservices ( §
Tata Teleservices Limited §
Tata Consultancy Services Limited §
Tata AIG General Insurance Company
Limited §
Tata AIG Life Insurance Company
Limited §
Wireless TT and Info Services Limited §
Tata Housing Development Company
Limited §
Infiniti Retail Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2010)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000000 |
Equity Share |
Rs.10/- each |
Rs.47500.000 Millions |
|
2500000 |
Redeemable Non-cumulative Preference Shares |
Rs.10000/- each |
Rs.2500.000 Millions |
|
3000000000 |
Compulsorily Convertible Preference Shares |
Rs.10/- each |
Rs.30000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.80000.000
Millions |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2233505070 |
Equity Share |
Rs.10/- each |
Rs.22335.100
Millions |
|
317587500 |
0.1% Compulsory Convertible Non-cumulative Preference Shares |
Rs.10/- each |
Rs.3175.900
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.25511.000 Millions |
Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2233430670 |
Equity Share |
Rs.10/- each |
Rs.22334.300
Millions |
|
317587500 |
0.1% Compulsory Convertible Non-cumulative Preference Shares |
Rs.10/- each |
Rs.3175.900
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.25510.200 Millions |
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1733430670 |
Equity Share |
Rs.10/- each |
Rs.17334.300
Millions |
|
|
Less: Loan given to “TCL Employees welfare Trust” |
|
Rs.575.300
Millions |
|
|
|
|
Rs.16759.000
Millions |
|
500000000 |
Equity Shares Paid up Rs.2 per shares |
Rs.10/- each |
Rs.1000.000 Millions
|
|
317587500 |
0.1% Compulsory Convertible Non-cumulative Preference Shares |
Rs.10/- each |
Rs.3175.900
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.20934.900 Millions |
NOTE:
1) Of the above 160,50,30,020 equity shares of Rs.10 each fully
paid and 50,00,00,000 equity shares of
Rs.10 each, paid up Rs.2 per share are held by Tata Sons Limited (Holding
Company) and its nominees.
2) 0.1% Compulsory Convertible Non-Cumulative Preference
Shares are convertible at any time after the issuance date into equity shares
at par at the option of the holder or compulsorily convertible into equity
shares at par on March 18, 2018.
3) 2,50,00,000 0.1% Non-Cumulative Compulsorily Convertible
Preference Shares of Rs.10 each were converted into Equity Shares in the ratio
of 1:1 on August 24, 2009.
4) 4,00,00,000 0.1% Non-Cumulative Compulsorily Convertible
Preference Shares of Rs.10 each were converted into Equity Shares in the ratio
of 1:1 on February 4, 2010.
5) 62,50,00,000 0.1% Non-Cumulative Compulsorily Convertible
Preference Shares of Rs.10 each were converted into Equity Shares in the ratio
of 1:1 on February 8, 2010.
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 |
20934.932 |
20876.182 |
19876.182 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
750.049 |
228.828 |
193.152 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
21684.981 |
21105.010 |
20069.334 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
65669.352 |
70147.458 |
11878.558 |
|
|
2] Unsecured Loans |
32709.605 |
24038.907 |
10894.335 |
|
|
TOTAL BORROWING |
98378.957 |
94186.365 |
22772.893 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
120063.938 |
115291.375 |
42842.227 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1741.978 |
1158.980 |
866.804 |
|
|
Capital work-in-progress |
87.903 |
62.398 |
43.477 |
|
|
|
|
|
|
|
|
INVESTMENT |
18117.475 |
29586.557 |
7340.563 |
|
|
DEFERREX TAX ASSETS |
71.425 |
22.538 |
22.128 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
108.895
|
265.432 |
0.000 |
|
|
Cash & Bank Balances |
237.657
|
5141.552 |
217.760 |
|
|
Other Current Assets |
2435.656
|
1583.762 |
480.788 |
|
|
Loans & Advances |
101583.435
|
81079.887 |
34360.570 |
|
Total
Current Assets |
104365.643
|
88070.633 |
35059.118 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1332.400
|
1182.500 |
367.200 |
|
|
Other Current Liabilities |
3454.003
|
2980.709 |
140.545 |
|
|
Provisions |
23.684
|
28.176 |
16.602 |
|
Total
Current Liabilities |
4810.087
|
4191.385 |
524.347 |
|
|
Net Current Assets |
99555.556
|
83879.248 |
34534.771 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
489.601 |
581.654 |
34.484 |
|
|
|
|
|
|
|
|
TOTAL |
120063.938 |
115291.375 |
42842.227 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13232.300 |
8569.700 |
1779.800 |
|
|
|
Other Income |
560.300 |
370.000 |
59.800 |
|
|
|
TOTAL (A) |
13792.600 |
8939.700 |
1839.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Costs |
1254.600 |
787.700 |
276.800 |
|
|
|
Other Operating Expenses |
2975.600 |
1913.600 |
535.100 |
|
|
|
Amortization of shares/ debenture issue expenses |
247.100 |
47.400 |
7.700 |
|
|
|
TOTAL (B) |
4477.300 |
2748.700 |
819.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9315.300 |
6191.000 |
1020.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8424.500 |
6067.500 |
940.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
890.800 |
123.500 |
80.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
138.000 |
62.400 |
6.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
752.800 |
61.100 |
73.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
239.700 |
13.700 |
(18.800) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
513.100 |
47.400 |
92.100 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
86.000 |
97.800 |
30.900 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Special Reserve |
102.600 |
9.500 |
18.400 |
|
|
|
Transfer to Debenture Redemption Reserve |
410.500 |
37.900 |
-- |
|
|
|
Dividend on Preference Shares |
-- |
-- |
6.200 |
|
|
|
Proposed Dividend on Preference Shares |
3.700 |
11.800 |
0.600 |
|
|
|
Excess
provision for preference share dividend (including tax there on) reversed |
(0.300) |
-- |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
82.600 |
86.000 |
97.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.43 |
0.06 |
0.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.72
|
0.53 |
5.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
56.89
|
0.71 |
4.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.71
|
0.07 |
0.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.76
|
4.66 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
21.70
|
21.01 |
66.86 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY
CREDITORS DETAILS:
|
Particulars
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
(Rs. In Millions) |
||
|
Sundry
Creditors |
|
|
|
|
- Payable to
Micro and Small Enterprises |
-- |
-- |
-- |
|
- Others |
1332.400 |
1182.500 |
367.200 |
|
|
|
|
|
|
Total |
1332.400 |
1182.500 |
367.200 |
BACKGROUND
Tata Capital Limited (the “Company” or “Tata Capital”), a subsidiary of Tata Sons Limited (“TSL”), is a Non-Banking Financial Company (“NBFC”) registered with the Reserve Bank of India (“RBI”) as a Systemically Important Non Deposit Accepting NBFC. Tata Capital offers fund and fee-based financial services to its customers and is a trusted customer-centric, one-stop financial services provider, catering to the diverse needs of retail, corporate and institutional customers, directly or indirectly through its subsidiaries, across various areas of business, namely Corporate Finance (which includes Commercial and Infrastructure Finance), Consumer Finance and Advisory Business, Securities Business, Investment Banking, Private Equity, Housing Finance and Travel related services.
Company is headquartered in Mumbai and has a wide network of
physical touch-points spanning all critical markets in
INDUSTRY AND ECONOMIC SCENARIO
FINANCIAL YEAR 2009-10
The Financial Year (“FY”) 2009-10
began with the backdrop of the financial crisis and the three main pillars of
the financial system viz. capital, liquidity and confidence, all badly impacted
during FY 2008-09. While in many ways the financial crisis had similarities to
the
While the impact of the global
headwinds on growth were heavily debated at the beginning of the year, it is
worth noting the growing impact of the tailwinds in play. These include the
co-ordinated response to the crisis including monetary and fiscal stimulus as
well as the collapse in commodity prices. Both these factors enabled some
recovery from the beginning of the second half of FY 2009-10.
The economy is now showing clear
signs of a demand revival, as reflected in both macro and micro level data.
Latest trends in industrial production, non-oil imports and bank credit coupled
with buoyant numbers in auto and cement dispatches indicate that the momentum
is picking up. With the Central Statistical Organization pegging FY 2009-10 GDP
Growth at 7.2%, India has the potential to revert to the 8-9% growth path.
Outlook for Financial
Year 2010-11
Loan growth, which had dipped to a 12 year low of 9.7% in October 2009, has been on an uptrend, with the latest RBI / Ministry of Finance report showing growth of 15.1% year-on-year and is expected to be in the range of 17% in FY 2010 -11. The 10 year government securities yield moved up from approx. 6.6% in March 2009 to over 8% in March 2010. With inflation breaching and sustaining at double-digits and an expected aggressive tightening, yields may edge up to 8.5% levels. The hardening of interest rates may be partially muted on account of a large captive demand for bonds and likely increase in capital flows and the impact on liquidity.
The Union Budget 2010 was a balanced one with a realistic 5.5% deficit financing, indicating a clear and quantified direction towards fiscal consolidation. Several structural reforms were announced as a part of the budget, comprising revised revenue sharing norms between the Centre and States, streamlining of subsidies and a hard time frame for implementation of Goods and Services Tax and Direct Tax Code.
As a result of the improvement in risk appetite, pro investor budget and increase in FII flows, the rupee appreciated significantly against the dollar, recording an increase of approx. 10% over the average exchange rate that prevailed in the month of March 2009.
Overall, the forthcoming Financial Year provides both significant opportunity and challenges for the Company. Return of corporate confidence will provide the Company, a platform to grow its loan book and advisory businesses. The biggest challenge will be to ensure that the Company retains its best people and manages interest cost and risk.
FINANCIAL
RESULTS:
The Company disbursed a total amount of Rs.174390.000 Millions under its various financing schemes as compared to Rs.134250.000 Millions in FY 2008-09. The Company’s Gross Income was Rs.13792.600 Millions and the Profit after Tax was Rs.513.100 Millions. The Company’s Net Worth as on March 31, 2010 stood at Rs.21195.500 Millions as against Rs.20482.300 Millions last year.
An amount of Rs.102.600 Millions is proposed to be transferred to Special Reserve Fund pursuant to Section 45IC of the Reserve Bank of India Act, 1934, Rs.410.500 Millions to the Debenture Redemption Reserve and an amount of Rs.82.600 Millions is being carried forward in the Profit and Loss Account.
SHARE CAPITAL
The paid-up Share Capital of the Company as at March 31, 2010 was Rs.2,1510.200 Millions comprising Rs.1,8334.300 Millions by way of Equity Share Capital and Rs.3175.900 Millions by way of 0.1% Compulsorily Convertible Preference Shares (“CCPS”). TSL held 93%, Tata Investment Corporation Limited (“TICL”) held 3.55% and the TCL Employee Welfare Trust (through its Trustees) held 3.45% of the paid up Equity Share capital of the Company, as at March 31, 2010.
CONTINGENT LIABILITIES AND COMMITMENTS:
i. Claims not acknowledged by the Company relating to cases contested
by the Company and which are not likely to be devolved on the Company relating
to the following areas : (Rs. In Millions)
|
Particulars
|
31.03.2010 |
31.03.2009 |
|
|
|
|
|
Income Tax (Pending before Appellate authorities in respect
of which the Company is in appeal) |
0.400 |
Nil |
ii. Outstanding Letter of credit amounting to Rs.436.900
Millions
iii. Estimated amount of contracts remaining to be executed
on capital account and not provided for Rs.542.200 Millions
iv. The Company has undertaken to provide continued
financial support to its Associate e-Nxt Financials Limited.
v. Commitment to invest in Tata Capital Special Situation
Fund amounting to Rs.7,27.500 Millions
vi. Commitment to invest in Tata Capital Health Care Fund
amounting to Rs.10,00.000 Millions
vii. Commitment to invest in Tata Capital Growth Fund
amounting to Rs.25,00.000 Millions
viii. Commitment to invest in Tata Capital Innovation Fund
amounting to Rs.7,50.000 Millions
FIXED
ASSETS
· Building
· Leasehold Improvement
· Furniture and fixtures
· Computers Equipment
· Office Equipment
·
Vehicles
·
Construction equipment
·
Plant and Machinery
WEBSITE
DETAILS:
OVERVIEW
Subject subsidiary of Tata Sons Limited. The Company is registered
with the Reserve Bank of
A trusted and customer-centric, one-stop financial services
provider, Tata Capital Limited caters to the diverse needs of retail, corporate
and institutional customers, directly or indirectly, through its subsidiaries
across various areas of business namely the Commercial Finance, Investment
Banking, Private Equity, Infrastructure Finance, Securities, Wealth Management,
Consumer Loans, Cards and Travel Related Services.
Tata Capital is headquartered in Mumbai and has a wide
network of over 100 branches spanning all critical markets in
Company
the wide product suite comprises of the following:
Commercial
Finance
With its wide array of products and customized service, the
commercial finance business, helps small, medium and large corporates grow
their business. The team of handpicked professionals offers in-depth expertise
to help customers keep pace with the changing marketplace and offer them
appropriate solutions to meet their ever-growing financial needs. The range of
offerings includes Term Loans, Working Capital Loans, Channel Finance,
Equipment Finance, Lease Rental Discounting, Bill Discounting Letter of Credit*
and Bank Guarantee*
* Offered through the associate banks.
Investment
Banking
Company Investment Banking services help Institutions and Corporates
manage and grow their business via high quality financial advisory services and
capital market solutions. The team of dedicated and experienced professionals
understands the needs of its customers and offers them cost-effective solutions
from a bouquet of services comprising M and A Advisory, PE Syndication and Debt
and Equity Capital Market services*
* Brought to by Tata Capital Markets Limited (TCML), a wholly-owned subsidiary
of Tata Capital Limited. TCML holds a Category I Merchant Banking license from
the Securities and Exchange Board of India.
Private
Equity
Tata Capital’s Private Equity business identifies, funds,
nurtures and profitably exits companies, with significant growth potential. The
team looks to create value in these companies, beyond its role as a financial
investor, by supporting them in areas like strategy, business development,
manufacturing, marketing, technology, treasury and facilitating overall
improvement and growth of the company’s operations. To enable this, the team
leverages the vast business management experience of the Tatas across different
sectors of the economy.
Infrastructure
Finance
The Infrastructure Finance business caters to the
specialized needs of the infrastructure sector. With an array of attractive
finance options to suit the varying needs of its customers, both large and
small and backed by a reputation of reliability and trust, it brings a promise
of quality and world class service. The range of offerings includes Equipment
Finance, Project Finance, Equipment Rentals, Working Capital Loans, Bill
Discounting/ Factoring, Refinance, Top Up Loans and Loan Syndication.
Securities
Tata Securities Limited*, a wholly owned subsidiary of Tata
Capital Limited, offers, both institutional and retail customers, quality
products and services like equity trading and research. With a strong research
and execution team, and uncompromising ethical standards, Tata Securities
strives to work in the interest of its customers and has successfully built a
franchise of strong relations.
* Tata Securities Limited Registered Office: Army and
Wealth
Management
Whether it is selecting the right investment opportunity,
growing a financial portfolio or building a retirement nest, their Wealth Management
team guides their customers at every step. Backed with strong research
capabilities and a deep understanding of the customers, the team helps
recommend and execute a customized financial strategy that is just right for
the customers. The spectrum of offerings includes, Financial Planning Services,
Retirement Planning Services, Third party investment products like Portfolio
Management Services, Private Equity/Venture Capital Funds, Structured Products,
Mutual Funds#, Fixed Deposits and Bonds.
# The participation by a company’s customer in mutual fund products is purely
on a voluntary basis.
Consumer
Loans
The wide range of consumer loans helps ensure that the
dreams the customers want to realize today, are not put off for tomorrow. With
a deep understanding of the customers’ needs they are able to guide them at
every step and offer them specific financial solutions. The Consumer Loans
include, Home Loans*, Auto Loans, Personal Loans, Business Loans, Education
Loans, Loans against Property, Loans against Shares#, Loans against Gold#.
* Brought to by Tata Capital Housing Finance Limited, a wholly-owned subsidiary
of Tata Capital Limited.
# Currently available in select cities only.
Tata
Cards
The Tata Card* combines the convenience of a powerful credit
card with a rewarding membership to the Empower program. The credit card allows
customers to earn points and the Empower program,
* Tata Card is the White Label Card issued, established and operated by the
State Bank of
Travel
Related Services
The travel related services* helps cater to a range of travel
needs - from planning customized holiday packages for individual customers to
group travel arrangements for corporate customers. The focus on service quality
and transparency is supplemented by their commitment to optimize the cost,
comfort and convenience for all our customers. The wide range of services
includes Airline ticketing, Visa and passport facilitation, Hotel accommodation
and Cars-hire and surface transport.
* Brought to by TC Travel and Services Limited, a wholly-owned subsidiary of
Tata Capital Limited.
AFFILIATES
e-Nxt Financials Limited is a
BPO and KPO unit specialising in the area of financial services and is owned by
Tata Capital Limited, Tata Sons Limited and others.
Tata Capital Limited also owns around 4% of the equity capital
of Development Credit Bank, a new generation private sector bank with a branch
network of 80 state-of-the-art branches across 10 states and two union
territories.
ALLIANCES
Company’s alliances and partnerships are based on and are an
extension of the Company’s core objects and values. These include:
With Mizuho
Securities Company Limited to foster business cooperation in private
equity, investment banking including cross border mergers and acquisitions, securities
business including broking and distribution, structured finance and other
business areas such as wealth management.
With Mizuho
Corporate Bank Limited (MHCB) to foster business cooperation, enhancing
cross-market value creation capabilities, strengthening competitive advantages
in addition to aiding each other in gaining a deeper understanding of the
Indian and Japanese markets. As part of the understanding, Tata Capital and
MHCB will cooperate in a wide-range of business areas. Some of these include
Ninja Loans, Project and Infrastructure Finance and Treasury Products.
With Mitsubishi UFJ
Securities Company Limited to establish a basis of cooperation in a wide
range of strategic business areas that include cross-border investment banking,
global offering of Indian equities and working towards development of the local
bond market.
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.45.20 |
|
|
1 |
Rs.70.27 |
|
Euro |
1 |
Rs.59.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
|
48 |
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.