1. Summary Information
|
|
|
Country |
|
|
Company Name |
LUCAS TVS LIMITED |
Principal Name 1 |
Mr. Tirumala
Kumara Balaji |
|
Status |
Good |
Principal Name 2 |
Mr. Suresh
Krishna |
|
|
|
Registration # |
18-004678 |
|
Street Address |
6, (New No. 11,
13) |
||
|
Established Date |
20.12.1961 |
SIC Code |
-- |
|
Telephone# |
91-44-28110063/28115624/28111200
/26258211 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-44-26257215/26257863/26258227 |
Business Style 2 |
Exporters |
|
Homepage |
Product Name 1 |
Starter Motors |
|
|
# of employees |
2945 (approximately) |
Product Name 2 |
Alternators |
|
Paid up capital |
Rs.
118,800,000/- |
Product Name 3 |
Small Motors |
|
Shareholders |
Nationalised or other banks - 13.89% Bodies corporate - 86.11% |
Banking |
Bank
of |
|
Public Limited Corp. |
No |
Business Period |
50 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
A (69) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company: |
- |
T.V. Sundram Iyengar and Sons Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,789,780,000 |
Current Liabilities |
1,572,772,000 |
|
Inventories |
1,260,587,000 |
Long-term Liabilities |
1,241,368,000 |
|
Fixed Assets |
2,795,920,000 |
Other Liabilities |
265,882,000 |
|
Deferred Assets |
0 |
Total Liabilities |
3,080,022,000 |
|
Invest& other Assets |
1,036,914,000 |
Retained Earnings |
4,684,379,000 |
|
|
|
Net Worth |
4,803,179,000 |
|
Total Assets |
7,883,201,000 |
Total Liab. & Equity |
7,883,201,000 |
|
Total Assets (Previous Year) |
7,125,786,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
10,689,051,000 |
Net Profit |
542,340,000 |
|
Sales(Previous yr) |
8,441,234,000 |
Net Profit(Prev.yr) |
217,019,000 |
MIRA
INFORM REPORT
|
Report Date : |
31.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
LUCAS TVS LIMITED |
|
|
|
|
Registered Office : |
6, (New No. 11, 13) |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
20.12.1961 |
|
|
|
|
Com. Reg. No.: |
18-004678 |
|
|
|
|
Paid-up Capital : |
Rs. 118.800 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U35999TN1961PLC004678 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEL00043B |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers, Exporters and Importers of the most
comprehensive range of Auto Electricals |
|
|
|
|
No. of Employees : |
2945 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 19000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company and a part of TVS
Group. The company is progressing well. Directors are reported as experienced
and respectable businessmen. Trade relations are fair. Business is active.
Payments are usually correct and as per commitments. Fundamentals are strong and healthy. The company can be considered normal for business dealings at usual
trade terms and conditions. The company can be regarded as a promising business partners in a
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 : |
6, (New No. 11, 13) |
|
Tel. No.: |
91-44-28110063/28115624/28111200 /26258211 |
|
Fax No.: |
91-44-26257215/26257863/26258227 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Aalim Centre, 82, Dr. Radhakrishnan Salai Mylapore, Chennai -600 004, Tamil Nadu. |
|
Tel. No.: |
91-44-28110063/28110074 |
|
Fax No.: |
91-44-28115624 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Lucas-TVS REWARI
PLANT |
|
Tel. No.: |
91-1274-240754 |
|
Fax No.: |
91-1274-240753 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Lucas-TVS CHAKAN
PLANT B-1/1, MIDC
Industrial Area, Village Nicoghe, Khed Taluk, Chakan, Pune - 410 501, |
|
Tel. No.: |
91-2135 327707 |
|
Fax No.: |
91-2135 259149 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Lucas-TVS
PUDUCHERRY PLANT |
|
Tel. No.: |
91-413-2699131 |
|
Fax No.: |
91-413-2699002 |
|
E-Mail : |
|
|
|
|
|
Factory 4 : |
Lucas-TVS
UTTARKHAND PLANT Sector 11, Plot
No. 55, |
|
Tel. No.: |
91-5944 250244 |
|
Fax No.: |
91-5944 250243 |
|
E-Mail : |
|
|
|
|
|
Factory 5 : |
Lucas-TVS
PUDUCHERRY PLANT 10, |
|
Tel. No.: |
91-413-2641095 |
|
Fax No.: |
91-413-2641096 |
|
E-Mail : |
|
|
|
|
|
Factory 6 : |
INDRAD AUTO
COMPONENTS, MARAIMALAI NAGAR PLANT A1 - F5,
Industrial Estate, Maraimalai Nagar, Dist. Kancheepuram, |
|
Tel. No.: |
914427451853/27453365 |
|
E-Mail : |
|
|
|
|
|
Sales Enquiry : |
Padi, Chennai - 600 050, |
|
Tel. No.: |
91-44-2625 8211, 2625 4376 (Marketing) |
|
Fax No.: |
91-44-2624 7441, 2625 7322 (Marketing) |
|
E-Mail : |
DIRECTORS
As On 26.08.2010
|
Name : |
Mr. Tirumala Kumara Balaji |
|
Designation: |
Managing Director |
|
Address : |
New No.75 (Old No.34), |
|
Date of Birth/Age : |
12.07.1948 |
|
Date of
Appointment : |
24.08.1979 |
|
DIN No.: |
00002010 |
|
|
|
|
Name : |
Mr. Suresh Krishna |
|
Designation: |
Chairman |
|
Address : |
New No.44 (Old No.79), |
|
Date of Birth/Age : |
24.12.1936 |
|
Date of
Appointment : |
02.02.1979 |
|
DIN No.: |
00046919 |
|
|
|
|
Name : |
Mr. Venu Srinivasan |
|
Designation: |
Director |
|
Address : |
Westside House, New No.3 (Old No.2), |
|
Date of Birth/Age : |
11.12.1952 |
|
Date of
Appointment : |
16.04.1991 |
|
DIN No.: |
00051523 |
|
|
|
|
Name : |
Mr. Gopal Srinivasan |
|
Designation: |
Director |
|
Address : |
New No.3 (Old No.2), |
|
Date of Birth/Age : |
04.08.1958 |
|
Address : |
Westside House, |
|
Date of
Appointment : |
28.03.1996 |
|
DIN No.: |
00177699 |
|
|
|
|
Name : |
Mr. Arvind Balaji |
|
Designation: |
Managing Director |
|
Address : |
1B, Rangaprasad Apartments, 14-15/9, Binny Road, Chennai – 600 086, |
|
Date of Birth/Age : |
08.12.1974 |
|
Date of
Appointment : |
18.04.2008 |
|
DIN No.: |
00557711 |
|
|
|
|
Name |
Mr. Kalathur Seshadri |
|
Designation |
Director |
|
Date of Birth/Age : |
03.10.1933 |
|
Address |
38, |
|
Date of
Appointment : |
20.07.2009 |
|
DIN No.: |
00301839 |
KEY EXECUTIVES
|
Name : |
Mrs. Nambi Rajan Narayanan |
|
Designation : |
Company Secretary |
|
Address : |
“Sriniketam”, 1, State Bank Officers’ Colony, |
|
Date of Birth/Age : |
09.04.1967 |
|
Date of
Appointment : |
20.12.2004 |
|
Date of
Cessation : |
18.03.2010 |
|
Pan No.: |
AABPN8032C |
|
|
|
|
Name : |
C |
|
Designation : |
Company Secretary |
|
Address : |
62, |
|
Date of Birth/Age : |
20.03.1962 |
|
Date of
Appointment : |
29.06.2010 |
|
Pan No.: |
AAAPA4133G |
|
|
|
|
Name : |
Mr. A. S. Ravi |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 26.08.2010
|
Names of
Shareholders |
No. of shares |
|
T. V. Sundaram Iyengar and Sons Limited – |
267984 |
|
Sundaram Industries Limited – |
270425 |
|
Southern Roadways Limited – |
91367 |
|
Sundaram Finance Limited – |
63224 |
|
Life Insurance Corporation of |
82501 |
|
General Insurance Corporation of |
41249 |
|
United India Insurance Company Limited – |
41249 |
|
Hastham Swathi Private Limited – |
116325 |
|
Punarvasu Swasthi Private Limited – |
116325 |
|
|
97351 |
|
Total |
1188000 |
As On 26.08.2010
|
Category |
Percentage |
|
Nationalised or other banks |
13.89 |
|
Bodies corporate |
86.11 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Exporters and Importers of the most
comprehensive range of Auto Electricals |
||||||||
|
|
|
||||||||
|
Products : |
Indian Market: ·
Starter Motor ·
Alternator ·
Headlamp ·
Small Motor ·
Dynamo Regulator ·
Dynamo ·
Ignition Coil ·
Distributor ·
Diesel Fuel Injection US/ European
Market: ·
Starter Motor ·
Alternator ·
Small Motor ·
Dynamo Regulator ·
Dynamo ·
Auto Electricals.
|
GENERAL INFORMATION
|
Customers : |
· Tatra Motors · Same · Denso · Arctic Cat · Wabco · Ashok Leyland · Man Forece Truck Private Limited · Mahindra and Mahindra · Maruti Suzuki · Mahindra Renault ·
Fiat ·
Ford · Escorts · TVS Motor Company ·
Royal · Force Motors · Eicher Motors · Swaraj Mazda · Kinetic Engineering ·
IVECO – ·
Inokom – ·
Uzel Tractors – ·
Commercial Vehicle Group – |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
2945 (approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Note: Others a sum of Rs. 45.140 millions falls due for payment during
the year 2010-11 (previous year Rs. Nil)
Of the sum of Rs. 54.001 millions fall due for payment during the year
2010-11 (previous year Rs. 10.575 millions) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Banking Relations
: |
-- |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Auditors : |
|
||||||||||||||||||||||||||||||
|
Name : |
Brahmayya and Company Chartered Accountants |
||||||||||||||||||||||||||||||
|
Address : |
46 and 48, |
||||||||||||||||||||||||||||||
|
Pan No: |
AAAFB2461J |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Holding Company : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Subsidiary Company : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Fellow Subsidiaries : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Associates/Subsidiaries : |
|
||||||||||||||||||||||||||||||
|
|
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 100/- each |
Rs. 500.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1188000 |
Equity Shares |
Rs.100/-
each |
Rs.118.800
millions |
NOTES:
· 134200 shares were issued as fully paid-up for consideration other than cash
· 45500 shares were issued and credited as paid-up to the extent of Rs.3.080 millions for consideration other than cash
· 824000 shares were allotted as fully paid-up Bonus shares by capitalisation of share premium and accumulated profits
· Of the above 1188000 shares, the holding company M/s T.V. Sundram lyengar and Sons Limited, holds 267984 shares directly and another 361792 through its other subsidiaries.
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 |
118.800 |
118.800 |
118.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4684.379 |
4318.647 |
4206.496 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4803.179 |
4437.447 |
4325.296 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
472.154 |
341.440 |
93.501 |
|
|
2] Unsecured Loans |
769.214 |
881.910 |
344.309 |
|
|
TOTAL BORROWING |
1241.368 |
1223.350 |
437.810 |
|
|
DEFERRED TAX LIABILITIES |
265.882 |
249.577 |
229.047 |
|
|
|
|
|
|
|
|
TOTAL |
6310.429 |
5910.374 |
4992.153 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2795.920 |
2474.543 |
2209.980 |
|
|
Capital work-in-progress |
207.827 |
330.981 |
312.684 |
|
|
|
|
|
|
|
|
INVESTMENT |
829.087 |
844.145 |
440.727 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1260.587
|
991.432 |
1017.757
|
|
|
Sundry Debtors |
1832.158
|
1276.989 |
1630.244
|
|
|
Cash & Bank Balances |
44.642
|
240.984 |
59.746
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
912.980
|
966.712 |
960.757
|
|
Total
Current Assets |
4050.367
|
3476.117 |
3668.504
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1273.643
|
983.320 |
1337.868
|
|
|
Other Current Liabilities |
210.145
|
153.497 |
166.283
|
|
|
Provisions |
88.984
|
78.595 |
135.591
|
|
Total
Current Liabilities |
1572.772
|
1215.412 |
1639.742
|
|
|
Net Current Assets |
2477.595
|
2260.705 |
2028.762
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6310.429 |
5910.374 |
4992.153 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10689.051 |
8441.234 |
9582.927 |
|
|
|
Other Income |
161.593 |
159.838 |
132.764 |
|
|
|
TOTAL (A) |
10850.644 |
8601.072 |
9715.691 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
7472.514 |
5920.107 |
6560.359 |
|
|
|
Manufacturing Expenses |
548.259 |
450.393 |
434.028 |
|
|
|
Personnel Expenses |
1228.797 |
1110.234 |
1128.161 |
|
|
|
Selling, Engineering and Administration
Expenses |
399.194 |
359.499 |
388.569 |
|
|
|
Research and Development Expenses |
80.125 |
100.367 |
111.817 |
|
|
|
TOTAL (B) |
9728.889 |
7940.600 |
8622.934 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1121.755 |
660.472 |
1092.757 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
71.844 |
96.552 |
46.146 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1049.911 |
563.920 |
1046.611 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
339.995 |
307.688 |
243.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
709.916 |
256.232 |
803.083 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
167.576 |
39.213 |
201.447 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
542.340 |
217.019 |
601.636 |
|
|
|
|
|
|
|
|
|
|
Income tax
relating to earlier years – Refund/(paid) |
0.000 |
(2.511) |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
160.759 |
188.608 |
199.008 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
370.000 |
140.000 |
400.000 |
|
|
|
Interim Dividend |
154.440 |
95.042 |
184.140 |
|
|
|
Dividend Distribution Tax |
22.168 |
7.315 |
27.896 |
|
|
BALANCE CARRIED
TO THE B/S |
156.491 |
160.759 |
188.608 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
820.343 |
587.003 |
713.129 |
|
|
|
Net foreign Exchange earned by Export
Product Unit |
436.049 |
313.237 |
313.392 |
|
|
TOTAL EARNINGS |
1256.392 |
900.240 |
1026.521 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
135.187 |
189.901 |
178.645 |
|
|
|
Components |
1304.895 |
951.685 |
1288.487 |
|
|
|
Machinery spares and tools |
41.246 |
40.880 |
23.614 |
|
|
|
Capital Goods |
254.992 |
69.389 |
171.756 |
|
|
TOTAL IMPORTS |
1736.320 |
1251.855 |
1662.502 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.57 |
183 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.99
|
2.52 |
6.19
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.64
|
3.04 |
8.38
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.37
|
4.31 |
19.54
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.06 |
0.19
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.59
|
0.55 |
0.38
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.58
|
2.86 |
2.24
|
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
In the backdrop and slow down in the global economies during the year as a consequence of the global financial melt down in 2008-09, the Indian economy recovered well during the year backed up by the announcement of stimulus measures by the government during late 2008 and early 2009 through a slow of out back in duties, monetary support, incentives and favourable monetary regime. As a result despite a poor monsoon, the economy could achieve a GDP growth of 7.4% during the year 2009-10 against 6.7% in the previous year.
The growth in the industrial sector was significant at 16.3% (10.8% previous year) for the year as a whole and touched 27.5% in the last quarter of the year signaling 2010 as a year of significant growth.
Form: 8
|
Corporate
identity number of the company |
U35999TN1961PLC004678 |
||||||
|
Name of the company
|
LUCAS TVS LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
6 (NEW NO 11, 13)
|
||||||
|
This form is for |
Creation of
charge |
||||||
|
Type of charge |
Movable Property |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
instrument creating charge |
Deed of
Hypothecation |
||||||
|
Date of
instrument Creating the charge |
30.09.2009 |
||||||
|
Amount secured by
the charge |
Rs. 500.000
Millions |
||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- 1.75% below prime lending rate of the bank Terms of
Repayment - 8 Equal successive half yearly installment of Rs.62.500 millions
each, commencing 2 years after the date of first disbursement. Margin - 25% Extent and
Operation of the charge - Specific moveable plant and machinery |
||||||
|
Particulars of
the property charged |
Specific charge
on the moveable plant and machinery situated at company's plant at Uttarkhand
and Rewari, more particularly defined in the annexure to the Hypothecation
Agreement. |
FIXED ASSETS:
- Land
- Land – Leasehold
- Building
- Plant and Machinery
- Electrical Equipment
- Furniture and Office Equipment
- Vehicles
- Technical Knowhow owned
- Technical Knowhow acquired
AS PER WEBSITE DETAILS
PROFILE:
Subject established in 1961 as a joint
venture between Lucas UK and T V Sundram Iyengar and Sons (TVS), India to manufacture
Automotive Electrical Systems. Subject is the Leader in Auto Electricals in
Subject
is a TS16949 and OSHAS 18001 certified company. Subject has bagged the Deming
application price in 2004 from the Japanese Union of Scientists and Engineers
(JUSE).
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. 45.10 |
|
|
1 |
Rs. 74.27 |
|
Euro |
1 |
Rs. 64.35 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
69 |
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.