1. Summary Information
|
|
|
Country |
|
|
Company Name |
T V SUNDRAM IYENGAR AND SONS LIMITED |
Principal Name 1 |
Mr. Suresh Krishna |
|
Status |
Good |
Principal Name 2 |
Mr. Krishna Ramesh |
|
|
|
Registration # |
18-2973 |
|
Street Address |
TVS Building,
7-B, |
||
|
Established Date |
11.10.1929 |
SIC Code |
---- |
|
Telephone# |
91-452-4356400 |
Business Style 1 |
Dealers |
|
Fax # |
91-452-2341587 |
Business Style 2 |
---- |
|
Homepage |
Product Name 1 |
Automobile Vehicles |
|
|
# of employees |
Approximately 6000 |
Product Name 2 |
Spare Parts |
|
Paid up capital |
Rs.
114,400,000/- |
Product Name 3 |
Petroleum Products |
|
Shareholders |
Directors or relatives of
directors (88%) Bodies Corporate(6%) Otehrs (6%) |
Banking |
UCO Bank |
|
Public Limited Corp. |
NO |
Business Period |
82 Years |
|
IPO |
NO |
International Ins. |
---- |
|
Public |
NO |
Rating |
Aa (78) |
|
Related
Company |
|||
|
Relation
|
Country ---- |
Company
Name |
CEO |
|
Subsidiary |
|
Sundaram Industries Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3,890,342,000 |
Current Liabilities |
249,152,000 |
|
Inventories |
2,631,736,000 |
Long-term Liabilities |
2,263,948,000 |
|
Fixed Assets |
917,917,000 |
Other Liabilities |
2,406,442,000 |
|
Deferred Assets |
6,700,000 |
Total Liabilities |
4,919,542,000 |
|
Invest& other Assets |
989,314,000 |
Retained Earnings |
3,402,067,000 |
|
|
|
Net Worth |
3,516,467,000 |
|
Total Assets |
8,436,009,000 |
Total Liab. & Equity |
8,436,009,000 |
|
Total Assets (Previous Year) |
6,650,118,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales and Services |
41,846,428,000 |
Net Profit |
1,161,000,000 |
|
Sales(Previous yr) |
35,740,398,000 |
Net Profit(Prev.yr) |
387,000,000 |
MIRA
INFORM REPORT
|
Report Date : |
10.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
T .V. SUNDRAM IYENGAR AND SONS LIMITED |
|
|
|
|
Registered Office : |
TVS Building, 7-B, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
11.10.1929 |
|
|
|
|
Com. Reg. No.: |
18-2973 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U34101TN1929PLC002973 |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company. |
|
|
|
|
Line of Business : |
Dealers in Automobile
Vehicles, Spare Parts and Accessories and Petroleum Products/ Lubricants. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (78) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 14000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and a reputed company of T.V.S group a
trusted and reliable industrial house of southern The company can be considered normal for business dealings at usual
trade terms and conditions. It can be regarded as a promising business partner in medium to long
run. |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
TVS Building, 7-B, |
|
Tel. No.: |
91-452-4356400 |
|
Fax No.: |
91-452-2341587 |
|
E-Mail : |
tvsco@tvssons.com b.ganapathisarma@tvssons.com |
|
Website : |
|
|
|
|
|
Branch Office : |
58, |
|
Tel. No.: |
91-44-66793222 |
|
Fax No.: |
91-44-66793035 |
|
|
|
|
TVS Division: |
Madurai, Tirunelveli,
Tiruchirapalli, Pudukottai, Salem, Coimbatore, Dharmapuri, Villupuram,
Namakkal, Thiruvananthapuram, Ernakulam, Kottayam, Kannur, Kozhikode, Kollam,
Palakkad, Thrissur, Malappuram, Pondicherry, Indore, Bhopal, Rewa, Ratlam,
Gwalior, Raipur, Jabalpur, Kanpur, Lucknow, Bareilly, Haldwani, Meerut and
`Bangalore. |
|
|
|
|
Sundaram Motors Division: |
Chennai, Poonamallee,
Vellore, Bangalore, Shimoga, Mysore, Mangalore, Hubli, Gulbarga, Belgaum, Bellary,
Yeshwantpur, Secunderabad, Visakhapatnam, Vijayawada, Nellore, Kakinada,
Cuddapah, Hyderabad, Pondicherry, Ponda (Goa), Kolhapur, Pune, Mumbai,
Nagpur, Cuttack, Berhampur and Ahmedabad. |
|
|
|
|
|
Chennai, Salem, Coimbatore,
Erode, Vellore, Tiruchirapalli, Bangalore, Shimoga, Mysore, Hubli, Mangalore,
Bellary, Belagum, Margoa, Visakhapatnam, Kurnool, Nellore, Hyderabad,
Rajahmundry, Ernakulam, Kottayam, Kannur, Kozhikode, Thrissur, Kolhapur,
Pune, Nagpur, Aurangabad, Bhopal, Raipur and Indore. |
DIRECTORS
As on 22.09.2010
|
Name : |
Mr. Suresh Krishna |
|
Designation : |
Director |
|
Address : |
79, |
|
Date of Birth/Age : |
24.12.1936 |
|
Date of Appointment : |
25.12.1970 |
|
|
|
|
Name : |
Mr. Krishna Ramesh |
|
Designation : |
Director |
|
Address : |
No. 18, Jawahar Raod, Chkkikulam, |
|
Date of Birth/Age : |
17.02.1939 |
|
Date of Appointment : |
25.12.1970 |
|
|
|
|
Name : |
Mr. Santhanam Ram |
|
Designation : |
Director |
|
Address : |
Old No. 29, New No. 57, |
|
Date of Birth/Age : |
27.04.1940 |
|
Date of Appointment : |
25.12.1970 |
|
|
|
|
Name : |
Mr. Krishna Mahesh |
|
Designation : |
Whole Time Director |
|
Address : |
New no. 81, old No. 39, First Main Road, Raja
Annamali Puram, Chennai – 600 028, Tamil Nadu |
|
Date of Birth/Age : |
11.10.1943 |
|
Date of Appointment : |
30.08.1976 |
|
|
|
|
Name : |
Mr. Santhanam Viji |
|
Designation : |
Director |
|
Address : |
Old No. 33, New No. 71, |
|
Date of Birth/Age : |
07.06.1946 |
|
Date of Appointment : |
30.08.1976 |
|
|
|
|
Name : |
Mr. Venu Srinivasan |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
11.12.1952 |
|
Date of Appointment : |
29.06.1979 |
|
|
|
|
Name : |
Mr. Gopal Srinivasan |
|
Designation : |
Director |
|
Address: |
Westside House, |
|
Date of Birth/ Age: |
04.08.1958 |
|
Date of Appointment: |
31.08.1979 |
|
|
|
|
Name : |
Mr. Thirumala K Balaji |
|
Designation : |
Director |
|
Address : |
34 Poes Garden, Chennai – 600 086, Tamil Nadu |
|
Date of Birth/Age : |
12.07.1948 |
|
Date of Appointment : |
31.08.1979 |
|
|
|
|
Name : |
Mr. Ramachandhran Haresh |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
29.11.1954 |
|
Date of Appointment : |
30.09.1980 |
|
|
|
|
Name : |
Mr. Ramchandran Dinesh |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
25.02.1965 |
|
Date of Appointment : |
27.05.1998 |
|
E-Mail: |
r.dinesh@tvssons.com |
|
|
|
|
Name : |
Mr. Srinath R Rajam |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
30.01.1957 |
|
Date of Appointment : |
16.06.2005 |
|
|
|
|
Name : |
Mr. Srivats Ram |
|
Designation : |
Director |
|
Address : |
Old No. 29, New No. 57, |
|
Date of Birth/Age : |
20.02.1970 |
|
Date of Appointment : |
16.06.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Balasubramanian Iyer Ganapathi Sharma |
|
Designation : |
Company Secretary |
|
Address : |
TVS Building 7B |
|
Date of Birth/Age : |
24.08.1935 |
|
Date of Appointment : |
15.01.1986 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Srinath R Rajam |
|
50848 |
|
Anita R Ratnam |
|
6184 |
|
Pritha Ratnam |
|
41280 |
|
Indu Ramchandran |
|
19000 |
|
R Haresh |
|
30866 |
|
R Naresh |
|
29164 |
|
Shobhana Ramachandran |
|
20664 |
|
R Dinehs |
|
32884 |
|
Saroja Ravindran |
|
3574 |
|
R Haresh |
|
51536 |
|
Suresh Krishna |
|
47707 |
|
Preethi Krishna |
|
17095 |
|
Arathi Krishna |
|
17095 |
|
Arundathi Krishna |
|
17095 |
|
Usha Krishna |
|
11206 |
|
K Ramesh |
|
31300 |
|
Soumini Ramesh |
|
14884 |
|
Mridula Ramesh |
|
16014 |
|
Mala Ramesh |
|
12640 |
|
Urmila Ramesh |
|
13062 |
|
K Mahesh |
|
21310 |
|
Shripriya Mahesh |
|
16648 |
|
Shrimathi Mahesh |
|
16648 |
|
|
|
16648 |
|
Shrikirti Mahesh |
|
16648 |
|
S Ram |
|
10357 |
|
Gita Ram |
|
8947 |
|
Nivedita Ram |
|
18325 |
|
Srivats Ram |
|
24441 |
|
Vijaya Rangarajan |
|
16027 |
|
Arjun Rangarajan |
|
45196 |
|
|
|
26162 |
|
Chitra Viji |
|
11602 |
|
Harsha Viji |
|
10873 |
|
Shriram Viji |
|
13961 |
|
R Ramanujam |
|
524 |
|
Prema Ramanujam |
|
6175 |
|
Srikanth Ramanujam |
|
7946 |
|
Ananth Ramanujam |
|
7943 |
|
Sumanth Ramanujam |
|
400 |
|
Raghuvamsa Holding Private Limited, |
|
12126 |
|
Athreya Harsha Holding Private Limited, |
|
4876 |
|
Uthirattadhisriram Holdings Private Limited, |
|
6500 |
|
Padmalakshmi Holdings Private Limited, |
|
9126 |
|
Maham Holdings Private Limited, |
|
18500 |
|
Rohini Holdings Private Limited, |
|
3250 |
|
Allegro Holdings Private Limited, |
|
3250 |
|
Silver Oak Holdings Private Limited, |
|
6500 |
|
Srikanth Ramanujam Ananth Ramanujam |
|
7539 |
|
S Ram and S Viji as Trustee of Sri T S Santhanam Testamentary Trust, |
|
5454 |
|
Venu Srivinasan |
|
66358 |
|
Mallika Srinivasan |
|
6500 |
|
Lakshmi Venu |
|
23502 |
|
Sudarshan Venu |
|
22566 |
|
Gopal Srinivasan |
|
118944 |
|
T K Balaji |
|
2304 |
|
T K Arvind Balaji |
|
7660 |
|
T K Priyamvada Balaji |
|
7660 |
|
Sheela Balaji |
|
6492 |
|
Malini Srinivasan |
|
24014 |
|
Total |
|
1144000 |
Equity Share
Breakup (Percentage of Total Equity)
AS ON : 30.09.2010
|
Category |
|
Percentage of
Holding |
|
|
|
|
|
Bodies Corporate |
|
6.00 |
|
Directors or relatives of directors |
|
88.00 |
|
Other top fifty shareholders |
|
6.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealers in Automobile
Vehicles, Spare Parts and Accessories and Petroleum Products/ Lubricants. |
GENERAL INFORMATION
|
Suppliers : |
·
Ashok Leyland
Limited, Chennai ·
The Premier Automobiles
Limited, Pune ·
Mahindra and
Mahindra Limited, Mumbai ·
Lucas TVS Limited,
Chennai ·
Honda Motors, |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
·
Maruti Udyog ·
·
TATA Engineering
and Locomotive Company ·
General Motors ·
Ford ·
Daewoo Motors Company
Limited ·
·
Hyundai Motors ·
Bajaj Tempo ·
Mahindra and
Mahindra ·
Swaraj Mazda ·
Eicher Motors ·
Escorts ·
HMT ·
·
L and T Tractors ·
Greaves Tractors |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Approximately 6000 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of ·
UCO Bank ·
State Bank of ·
State Bank of Saurashtra ·
State Bank of Travancore ·
State Bank of ·
ICICI Bank Limited, ·
HDFC
Bank Limited, HDFC Bank Housenapati Bapat Marg, Lower parel (West), Mumbai – 400 013, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Banking
Relations : |
Good |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Auditors : |
|
||||||||||||||||||||||||
|
Name : |
Sundaram and Srinivasan Chartered Accountants |
||||||||||||||||||||||||
|
Address : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Associates: |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Subsidiaries : |
·
Sundaram Industries Limited U65991TN1943PLC002656 ·
Southern Roadways Limited U60221TN1946PLC002582 ·
TVS Interconnect Systems Limited U72300TN1997PLC039110 ·
TVS Logistics Services Limited U63011TN2004PLC054655 ·
The Associated Auto Parts Limited U51220MH1944PLC004124 ·
Lucas-TVS Limited U35999TN1961PLC004678 ·
Lucas Indian Service Limited U35999TN1930PLC005705 ·
TVS Automotive Systems Limited U50101TN2005PLC057476 ·
Sundaram Textiles Limited U17111TN960PLC004340 ·
TVS Dynamic Global Freight Services Limited U63010TN2007PLC064282 ·
TVS Communication Solutions Limited U60200TN2008PLC068631 ·
NSM Holdings Limited U65921TN2007PLC063294 ·
Iranian Automotive Systems, ·
TVSNet Technologies Limited ·
TOR Projects and Services Limited ·
NK Telecom Products Limited ·
NK Tele Systems Limited ·
TVS Automotive Europe Limited, ·
TVS CJ Components Limited, ·
TVS Logistics ·
TVS Logistics Siam Limited, ·
TVS Autoserve ·
TVS Logistics Investment UK Limited, ·
Ylestre Holdings Limited, ·
Multipart (Holdings) Limited, ·
Multipart Solutions Limited, ·
IF Crick Property Company Limited, ·
Msys Software Solutions Limited, ·
Globe Dynamics Limited, ·
Sundaram Clayton Limited ·
Anusha Investments Limited ·
TVS Motor Company Limited ·
Sundaram Auto Components Limited ·
TVS Motor ( ·
PT. TVS Motor Company Idonesia ·
TVS Energy Limited ·
TVS Investments Limited ·
TVS Electronics Limited ·
Tumkur Property Holdings Limited ·
Prime Property Holdings Limited ·
TVS-E SErvicetec Limited ·
TVS-E Servicetec Limited ·
TVS Capital Funds Limited ·
Sravanaa Properties Limited ·
TVS Finance and Services Limited |
CAPITAL STRUCTURE
(As on 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs. 100/- each |
Rs. 250.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24776 |
Equity Shares (Issued for Cash) |
Rs.100/-
each |
Rs. 2.478
millions |
|
10209 |
Equity Shares (Issued for consideration other than cash) |
Rs.100/-
each |
Rs. 1.021
millions |
|
1109015 |
Equity Shares (issued as bonus Shares by capitalization
of General Reserve) |
Rs.100/-
each |
Rs. 110.901
millions |
|
|
|
Total
|
Rs. 114.400 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
1SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
114.400 |
114.400 |
114.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3402.067 |
2669.190 |
2508.931 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3516.467 |
2783.590 |
2623.331 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1632.610 |
1417.686 |
867.965 |
|
|
2] Unsecured Loans |
631.338 |
372.660 |
79.889 |
|
|
TOTAL BORROWING |
2263.948 |
1790.346 |
947.854 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5780.415 |
4573.936 |
3571.185 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
917.917 |
976.698 |
824.567 |
|
|
Capital work-in-progress |
11.254 |
8.735 |
88.403 |
|
|
|
|
|
|
|
|
INVESTMENT |
978.060 |
636.078 |
742.159 |
|
|
DEFERREX TAX ASSETS |
6.700 |
6.700 |
6.700 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2631.736
|
2386.940
|
3351.970
|
|
|
Sundry Debtors |
1519.331
|
1346.250
|
2374.001
|
|
|
Cash & Bank Balances |
884.281
|
736.231
|
404.084
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
1486.730
|
552.486
|
578.978
|
|
Total
Current Assets |
6522.078
|
5021.907
|
6709.033 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
249.152
|
2014.805
|
4679.046 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000 |
|
|
Provisions |
2406.442
|
61.377
|
120.631 |
|
Total
Current Liabilities |
2655.594
|
2076.182
|
4799.677 |
|
|
Net Current Assets |
3866.484
|
2945.725
|
1909.356 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5780.415 |
4573.936 |
3571.185 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
41846.428 |
35740.398 |
44857.929 |
|
|
|
Operating Income |
644.370 |
591.512 |
521.329 |
|
|
|
Other Income |
744.927 |
319.259 |
227.026 |
|
|
|
TOTAL |
43235.725 |
36651.169 |
45606.284 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
38652.117 |
33009.849 |
41973.478 |
|
|
|
Expenses |
3017.406 |
3005.002 |
2936.924 |
|
|
|
TOTAL |
41669.523 |
36014.851 |
44910.402 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1566.202 |
636.318 |
695.882 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
140.443 |
134.203 |
140.714 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1425.759 |
502.115 |
555.168 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
264.759 |
115.115 |
178.398 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1161.000 |
387.000 |
376.770 |
|
|
Add |
Tax refunds
relating to prior year |
1.164 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
701.165 |
579.607 |
440.400 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
116.100 |
38.700 |
36.800 |
|
|
|
Interim Dividend paid |
236.808 |
152.152 |
86.944 |
|
|
|
Interim Dividend Payable |
140.712 |
53.768 |
84.656 |
|
|
|
Tax on Dividend |
51.767 |
20.822 |
29.163 |
|
|
BALANCE CARRIED TO
THE B/S |
1317.942 |
701.167 |
579.607 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
2.355 |
0.216 |
|
|
TOTAL EARNINGS |
NA |
2.355 |
0.216 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
0.000 |
14.552 |
|
|
|
Others |
NA |
92.488 |
90.707 |
|
|
TOTAL IMPORTS |
NA |
92.488 |
105.259 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1014.86 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.69 |
1.06 |
0.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.41 |
1.40 |
1.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.16 |
8.37 |
7.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.18 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.40 |
1.39 |
2.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.46 |
2.42 |
1.40 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS REVIEW
The Turnover of the company rose by 17.08% from Rs. 35740.000 Millions to
Rs. 41840.000 Millions in the year. After having undergone challenging times
earlier, the year 2009-10 brought a note of satisfaction with significant
growth in business and profits. The ongoing momentum in economy is expected to
continue to be positive and they expect to keep up the momentum going forward.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:-
|
|
31.03.2010 (Rs.
in Millions) |
|
To Banks – On Counter
Guarantees |
267.987 |
|
On Letters of Credit |
2.392 |
|
Uncalled Liability on Partly paid shares |
0.004 |
|
Estimated amount of contracts remaining to be executed on capital
account not provided for |
10.400 |
|
Claims against the Company not acknowledged as debts |
0.033 |
|
Disputed Tax Liability |
22.763 |
|
Disputed Service Tax Liability |
6.682 |
|
Dispute VAT Liability |
4.245 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U34101TN1929PLC002973 |
|
Name of the
company |
T V SUNDRAM
IYENGAR AND SONS LIMITED |
|
Address of the
registered office or of the principal place of business in |
TVS Building, 7-B, |
|
This form is for |
Modification of
Charge |
|
Charge identification
number of the charge to be modified |
80013767 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of |
|
Nature of instrument
creating charge |
Agreement for
hypothecation of goods- Form No. 9 Dated 09.01.2010 Agreement fro
Cash Credit – Form No. 10 dated 29.01.2010 |
|
Date of
instrument Creating the charge |
29.01.2010 |
|
Amount secured by
the charge |
Rs. 80.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 10.75% Terms of
Repayment Repayable on
demand and remain in force until closed by the bank Margin For Vehicles :
10% For Stores/
Spares/ Accessories: 20% For Receivables:
30% |
|
Date of
instrument modifying the charge |
18.10.2004 |
|
Particulars of
the present modification |
The overall CC
Limit is increased from Rs. 70.000 Millions to Rs. 80.000 Millions |
|
Corporate identity
number of the company |
U34101TN1929PLC002973 |
|
Name of the
company |
T V SUNDRAM
IYENGAR AND SONS LIMITED |
|
Address of the
registered office or of the principal place of business in |
TVS Building, 7-B, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
· Book Debts · Floating Charge · Movable Property (Not Being pledge) |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank Housenapati Bapat Marg, Lower parel (West), Mumbai – 400 013, Maharashtra E-mail: srinivasan.balasubramanian@hdfcbank.com |
|
Nature of
instrument creating charge |
Hypothecation of
stock and book debts for Rs. 200.000 millions for fund and non fund limits. |
|
Date of instrument
Creating the charge |
30.07.2009 |
|
Amount secured by
the charge |
Rs. 200.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest: Cash Credit – PLR
– 4.000% or as stipulated by bank from time to time WCDL – As per
Market Non Fund Limits –
As per market Terms of Repayment: Cash Credit – On
demand WCDL – Upto 90 or
as stipulated by bank from time to time Letter of Credit
– Upto 180 days or as stipulated by bank from time to time Bank Guarantee –
Upto 2 years (including Claim period) or as stipulated by bank from to time. Margin: As per multiple
Arrangement or as stipulated by bank from time to time Extent and operation of charge: hypothecation by way of first charge on pari passu
basis on stock and book debts of the company both present and future |
|
Short particulars
of the property charged (Including location of the property) |
hypothecation by way of first charge on pari passu
basis on stock and book debts of the company both present and future |
Fixed Assets:
·
·
·
Building Sites
·
Occupancy Rights
·
Plant and Machinery
·
Furniture, Fittings and
Equipments
·
Transport Vehicles
·
Aircraft
·
Patent Rights and
Patterns
WEB DETAILS
Profile
The TVS Group is one of
The largest automobile distribution company in
·
TVS
·
Sundaram Motors
·
Business
Being the
trading and distribution arm of the group, the business activities of TVS and
Sons include Dealerships for automobile vehicles, Distribution of spares for
after-market, Sales and service support for Garage Equipment, Sales and Service
of Products for Special applications like construction and Material handling
and providing Customer Centric Services for Car customer under the brand
“MyTVS".
TVS and Sons have grown into a
leading logistics solution provider and has set up state-of-the-art warehouses
all over the country.
The Global
business operation of the company includes managing Joint Ventures in
Dealers Located at
Honda
·
Chennai
·
Secunderabad
·
Fiat
·
Chennai
·
·
Ford
·
Secunderabad
·
Mercedes Benz
·
·
Chennai
·
Spare parts
·
Ahmedabad
·
·
Bellari
·
·
Chennai
·
Cuddapah
·
·
·
·
Hubli
·
·
Mangalore
·
·
·
·
New Mumbai
·
·
Pune
·
·
Secunderabad
·
Shimoga
·
·
·
Ashok Leyland
·
·
·
BijaPUR
·
Hubli
·
·
Shimoga
·
Distributor
Companies
|
|
Distributors
of automotive components |
|
Lucas Indian
Service Limited |
Distributors
of auto electrical and auto components, Fuel Injection Equipment, LISPART and
Batteries. |
|
T V Sundaram
Iyengar and Sons Limited |
Distributors
of passenger cars, commercial vehicles, automotive spare parts |
Press Releases
TVS Logistics TVS Logistics Services Limited to raise Rs. 1000 millions through Private Equity to facilitate reaching Rs. 10000 millions turnover by 2010 - Announces new joint ventures and investment initiatives.
Friday, 11 Apr, 2008
Chennai, April 11, 2008 T V Sundram Iyengar & Sons Limited
had spun off its logistics business in to a separate company in 2004. This
company has now grown in
To fund these growth plans, Goldman Sachs has invested nearly Rs.1000 millions
for a significant minority stake. This is the first time a Private Equity
investment has been made in a TVS Group Company. The company will also leverage
the contact and reach of Goldman Sachs to further speed up its growth.
TVS Logistics has recently taken 50% stake in Greenarches Ltd (based in Mumbai)
and renamed it as TVS Infrastructure Ltd. This company will create Logistics
Parks and propose to invest nearly Rs.5000 millions by itself and through
special purpose vehicles (SPV) for building up warehousing and other required
infrastructure.
This company already owns 20 acres in Pune and 10 acres in Chennai with plans to
build up land bank around 200 acres in centers of automotive importance namely
Hosur, Gurgaon, Halol,
TVS Dynamic Global Freight Services Limited is a new company formed by TVS
Logistics Services and Dynamic Freight Forwarding Service which has combined
the freight forwarding business of both the entities. TVS Logistics has 75%
stake in the newly formed company. TVS Dynamic Global Freight Services Limited
will focus on auto and non-auto segment and is expected to reach Rs.2500
millions turnover in 3 years time.
TVS Logistics has plans to enter finished goods transportation (CBU) through
forming joint venture with operators and also through merger and
acquisitions. These joint ventures are expected to contribute around
Rs.1000 millions during this fiscal.
TVS Logistics Services also recently entered the commutation solutions for
corporate staff transportation, and has plans to expand its current fleet
strength from 200 buses’ to 1000 buses with in the next two year’s.
The company is also further examining expanding its operations in overseas
joint ventures especially in
The company has got an excellent relationship with its existing customers and
will build on this to grow further.
TVS Logistics has put in place a new customized ERP solution which provides
Just in Time (JIT) tracking solutions with several unique features.
These plans will result in company’s employee strength going up from 3000 to
5000. In order to retain and develop the talent of its employees, the company
has started training academies in Chennai and
The company has already built up an enviable client list which includes major
OEMs in
With all needed inputs like funds, infrastructure and global presence through
joint ventures and well trained employees, the Company is confident of
surpassing the expectations of all the business stakeholders.
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 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.45.37 |
|
|
1 |
Rs.70.04 |
|
Euro |
1 |
Rs.58.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--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 |
Yes |
|
--AFFILIATION |
YES/NO |
Yes |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
78 |
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.