1. Summary Information

		Country	India
Company Name	SUNDARAM AUTO COMPONENTS LIMITED	Principal Name 1	Mr. Chundi Narasimha Prasad
Status	Good	Principal Name 2	Mr. Kunnath Narayanan Radhakrishnan
		Registration #	18-051417
Street Address	Jaya Lakshmi Estates, No. 29(8), Haddows Road, Chennai – 600006, Tamilnadu, India
Established Date	10.06.1992	SIC Code	--
Telephone#	91-44-28272233/ 27173524	Business Style 1	Manufacturer
Fax #	91-44-28257121	Business Style 2	--
Homepage	www.sundaramautocomponents.com	Product Name 1	Air Brakes Hoses
# of employees	350 (Approximately)	Product Name 2	rubber Moulded Components
Paid up capital	Rs.74,000,000/-	Product Name 3	plastics Moulded Component
Shareholders	Bodies corporate-100%	Banking	State bank of India
Public Limited Corp.	NO	Business Period	20 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ba (50)
Related Company
Relation	Country	Company Name	CEO
Holding Company	India	TVS Motor Company Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	646,187,000	Current Liabilities	845,898,000
Inventories	383,124,000	Long-term Liabilities	483,815,000
Fixed Assets	854,313,000	Other Liabilities	64,415,000
Deferred Assets	0,000	Total Liabilities	1,394,128,000
Invest& other Assets	2,200,000	Retained Earnings	417,696,000
		Net Worth	491,696,000
Total Assets	1,885,824,000	Total Liab. & Equity	1,885,824,000
Total Assets (Previous Year)	1,824.418,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	7,451,871,000	Net Profit	82,239,000
Sales(Previous yr)	7,782,382,000	Net Profit(Prev.yr)	98,077,000

MIRA INFORM REPORT

Report Date :

08.08.2012

IDENTIFICATION DETAILS

Name :	SUNDARAM AUTO COMPONENTS LIMITED
Registered Office :	Jaya Lakshmi Estates, No. 29(8), Haddows Road, Chennai – 600006, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	10.06.1992
Com. Reg. No.:	18-051417
Capital Investment / Paid-up Capital :	Rs.74.000 Millions
CIN No.: [Company Identification No.]	U29249TN1992PLC051417
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Air Brakes Hoses, rubber Moulded Components, plastics Moulded Component and Two Wheelers.
No. of Employees :	Approximately 350 [In Office – 80 and In Factory – 270]

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1970000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of TVS Motor Company Limited. It is a well established company having good track. Profitability of the company appears to be low. However, networth appears to be good. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	A (Long term rating)
Rating Explanation	Having adequate degree of safety regarding timely servicing of financial obligation it carry low credit risk.
Date	February 2012

Rating Agency Name	CARE
Rating	A1 (Short term rating)
Rating Explanation	Very strong degree of safety regarding timely payment of financial obligation it carry lowest credit risk.

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	Jaya Lakshmi Estates, No. 29(8), Haddows Road, Chennai – 600006, Tamilnadu, India
Tel. No.:	91-44-28272233/ 27173524
Fax No.:	91-44-28257121
E-Mail :	corpsec@scl.co.in
Website :	www.sundaramautocomponents.com
Plant 1 :	Thally Road, Belagondapalli, hosur – 635 114, Tamilnadu, India
Plant 2 :	Plot B-11, Sipcot Industrial growth Centre, Oragadam, Sriperumbathur Taluk, Kanchipuram District - 602 105, Tamilnadu, India
Plant 3 :	Byathahalli Village, Kadakola Post, Mysore – 571311, Karnataka, India

DIRECTORS

As on 12.09.2011

Name :

Mr. Harihara Iyer Lakshmanan

Designation :

Director

Address :

P No. 1822, IIIrd Floor, 13^th Main Road, Anna Nagar West, Chennai – 600040, Tamilnadu, India

Date of Birth/Age :

14.08.1933

Date of Appointment :

01.02.2003

DIN No.:

00057973

Other Directorship :

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
U65993TN1982PLC009626	Anusha Investments Limited	Whole-time director	14/08/2011	4/08/1993	-	Active	NO
U65191TN1994PLC028851	TVS Investments Limited	Director	7/10/1994	7/10/1994	-	Active	NO
L27209TN1996PLC035293	Harita Seating Systems Limited	Director	24/04/2011	24/04/1996	-	Active	NO
U30006TN1996PLC035418	Harita Techserv Limited	Director	30/09/2009	9/05/1996	-	Active	NO
U65191TN1998PLC039853	TVS Finance and Services Limited	Director	9/02/1998	9/02/1998	-	Active	NO
U93090TN1983GAT009829	Sundram Clayton Senior Officers Welfare Foundation Private Limited	Director	20/03/1998	20/03/1998	1/07/2008	Active	NO
U24293TN1999PLC042327	Harita-Nti Limited	Director	22/04/1999	22/04/1999	-	Active	NO
L35921TN1992PLC022845	TVS Motor Company Limited	Director	26/04/2002	24/04/2000	-	Active	NO
U99999TN1992PLC022842	Sundaram Auto Components Limited	Director	1/02/2003	1/02/2003	-	Not Available for eFiling	NO
U29249TN1992PLC051417	Sundaram Auto Components Limited	Director	19/04/2010	1/02/2003	-	Active	NO
L30007TN1995PLC032941	Tvs Electronics Limited	Director	18/07/2003	18/07/2003	-	Active	NO
U72200TN2003PTC052121	Harita Properties Private Limited	Director	11/12/2003	11/12/2003	-	Active	NO
L34103TN2004PLC054667	Wabco India Limited	Director	18/11/2004	18/11/2004	30/07/2009	Active	NO
U65993TN2004PLC054696	Sundaram Investment Limited	Director	22/11/2004	22/11/2004	22/04/2009	Active	NO
U70200TN2002PLC049497	Sravanaa Properties Limited	Director	27/03/2006	27/03/2006	11/10/2007	Active	NO
U72200TN2007PLC064091	Harita Academy Limited	Director	28/08/2008	25/06/2007	17/03/2009	Active	NO
U65991TN2007PLC064133	TVS Capital Funds Limited	Director	20/08/2008	28/06/2007	-	Active	NO
U34300TN2003PLC050368	Auto (India) Engineering Limited	Director	28/09/2007	3/07/2007	-	Amalgamated	NO
U34300TN2008PTC068511	Harita Interiors Private Limited	Director	9/07/2008	9/07/2008	-	Active	NO
U40109TN2008PLC069101	TVS Energy Limited	Director	1/09/2008	1/09/2008	-	Active	NO
U65920TN2008PLC069758	TVS Credit Services Limited	Director	4/09/2009	5/11/2008	17/02/2010	Active	NO
U50404TN2009PLC071075	TVS Motor Services Limited	Director	23/03/2009	23/03/2009	-	Active	NO
U93090TN1983GAT009948	TVS Motor Harita Employees Welfare Foundation Private Limited	Director	31/08/2009	18/05/2009	-	Active	NO
U25200TN2008PLC068513	Harita Fehrer Limited	Director	8/09/2010	24/08/2009	-	Active	NO
U70101TN2010PLC075027	TVS Housing Limited	Director	22/03/2010	22/03/2010	-	Active	NO
U80302TN2010PLC075028	TVS Training and Services Limited	Additional director	6/12/2011	22/03/2010	-	Active	NO
U70200TN2010PTC078102	Harita Housing Constructions Private Limited	Director	18/11/2010	18/11/2010	-	Active	NO
U40105TN2011PLC078729	TVS Wind Power Limited	Director	6/01/2011	6/01/2011	16/02/2011	Active	NO
U40109TN2011PLC078719	TVS Wind Energy Limited	Director	6/01/2011	6/01/2011	16/02/2011	Active	NO
U74999TN2011PLC081397	Sundram Services Limited	Director	7/07/2011	7/07/2011	6/12/2011	Active	NO
U74910TN2006PTC060188	Lakson Technology Private Limited	Additional director	11/09/2011	11/09/2011	-	Active	NO
U40101TN2011PTC083427	TVS Greentech Power Private Limited	Director	5/12/2011	5/12/2011	-	Active	NO

Name :

Mr. Vangipuram Navanitham Venkatanathan

Designation :

Director

Address :

No. 34, Nachiappan Street, Mahalingappuram, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

07.08.1945

Date of Appointment :

10.06.1992

DIN No.:

00059273

Other Directorship :

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
U29249TN1992PLC051417	Sundaram Auto Components Limited	Director	10/06/1992	10/06/1992	-	Active	NO
U99999TN1992PLC022842	Sundaram Auto Components Limited	Director	10/06/1992	10/06/1992	-	Not Available for eFiling	NO
U65191TN1994PLC028851	TVS Investments Limited	Director	7/10/1994	7/10/1994	23/10/2008	Active	NO
U71309TN1995PLC030473	Harita Limited	Director	13/03/1995	13/03/1995	20/04/2009	Active	NO
U67190TN1995PTC032701	Goodwill Financial Services Private Limited	Director	25/08/1995	25/08/1995	-	Active	NO
U65993TN1981PTC008775	Harita Sheela Private Limited	Director	5/09/1995	5/09/1995	-	Active	NO
U65993TN1981PTC009002	Harita Balaji Private Limited	Director	5/09/1995	5/09/1995	-	Active	NO
U25209TN1996PLC034688	Sundaram Plastics Limited	Director	1/03/1996	1/03/1996	-	Active	NO
U67190TN1996PLC035318	Harita Financial Services Limited	Director	25/04/1996	25/04/1996	20/04/2009	Active	NO
U30006TN1996PLC035418	Harita Techserv Limited	Director	9/05/1996	9/05/1996	23/10/2008	Active	NO
U65191TN1998PLC039853	TVS Finance and Services Limited	Director	9/02/1998	9/02/1998	-	Active	NO
U67190TN1998PTC039855	Harita Investment Holdings Private Limited	Director	9/02/1998	9/02/1998	-	Strike off	NO
U93090TN1983GAT009829	Sundram Clayton Senior Officers Welfare Foundation Private Limited	Director	20/03/1998	20/03/1998	1/08/2008	Active	NO
U72300TN1998PLC040612	South Asia Electronics Limited	Director	4/06/1998	4/06/1998	16/11/2010	Active	NO
U65993TN1982PTC009429	Harita Srinivasan Private Limited	Director	19/01/1999	19/01/1999	-	Active	NO
U65993TN1981PTC008791	Harita Gopal Private Limited	Director	19/01/1999	19/01/1999	-	Active	NO
U65993TN1981PTC008722	Harita Venu Private Limited	Director	19/01/1999	19/01/1999	-	Active	NO
U93090TN1981PTC008769	Harita Malini Private Limited	Director	19/01/1999	19/01/1999	-	Active	NO
U74130TN1999PTC042335	Neological Consultancy Private Limited	Director	22/04/1999	22/04/1999	-	Active	NO
U40109TN1987PLC014913	Tvs Power Limited	Director	29/09/2001	29/09/2001	-	Active	NO
U25190TN1979PLC007933	Harita Rubber Products Limited	Director	21/05/2002	21/05/2002	-	Active	NO
U72200TN2003PTC052121	Harita Properties Private Limited	Director	11/12/2003	11/12/2003	-	Active	NO
U65993TN2004PLC054696	Sundaram Investment Limited	Director	22/11/2004	22/11/2004	22/04/2009	Active	NO
U65993TN1982PLC009626	Anusha Investments Limited	Director	27/09/2006	24/08/2006	-	Active	NO
U01132TN2006PLC061095	Emerald Haven Estates Limited	Director	13/09/2006	13/09/2006	-	Active	NO
U70200TN2002PLC049497	Sravanaa Properties Limited	Director	18/08/2008	11/10/2007	-	Active	NO
U34300TN2008PTC068511	Harita Interiors Private Limited	Director	9/07/2008	9/07/2008	-	Active	NO
U25200TN2008PLC068513	Harita Fehrer Limited	Director	9/07/2008	9/07/2008	24/08/2009	Active	NO
U40109TN2008PLC069101	TVS Energy Limited	Director	1/09/2008	1/09/2008	3/12/2009	Active	NO
U65920TN2008PLC069758	TVS Credit Services Limited	Director	4/09/2009	5/11/2008	17/02/2010	Active	NO
U01400TN2009PTC070420	Harita Greens Private Limited	Director	9/01/2009	9/01/2009	-	Active	NO
U40104TN2009PTC070419	Harita Arvind Energy Private Limited	Director	9/01/2009	9/01/2009	-	Active	NO
U50404TN2009PLC071075	TVS Motor Services Limited	Director	23/03/2009	23/03/2009	22/04/2009	Active	NO
U80302TN2010PLC075028	TVS Training and Services Limited	Director	22/03/2010	22/03/2010	-	Active	NO
U74140TN2010PTC075022	Harita Athreya Consultancy Services Private Limited	Director	22/03/2010	22/03/2010	-	Active	NO
U70101TN2010PLC075027	TVS Housing Limited	Director	22/03/2010	22/03/2010	3/06/2011	Active	NO
U45200TN2010PLC075953	Emerald Haven Realty Limited	Director	2/06/2010	2/06/2010	-	Active	NO
U80301TN2010PTC077665	Dayananda Rural Edu Tech Private Limited	Director	12/10/2010	12/10/2010	-	Active	NO
U70200TN2010PTC078102	Harita Housing Constructions Private Limited	Director	18/11/2010	18/11/2010	-	Active	NO
U74999TN2011PLC081397	Sundram Services Limited	Director	7/07/2011	7/07/2011	-	Active	NO
U34100WB2011PLC164616	Neo Strategic Motors Limited	Director	7/07/2011	7/07/2011	-	Active	NO
U62200TN2011PLC083370	Emerald Haven Aviation Services Limited	Director	1/12/2011	1/12/2011	-	Active	NO
U40101TN2011PTC083427	TVS Greentech Power Private Limited	Director	5/12/2011	5/12/2011	-	Active	NO

Name :

Mr. Chundi Narasimha Prasad

Designation :

Director

Address :

P No. 1822, IIIrd Floor, 13^th Main Road, Anna Nagar West, Chennai – 600040, Tamilnadu, India

Date of Birth/Age :

01.07.1947

Date of Appointment :

06.05.2009

DIN No.:

01950656

Other Directorship :

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
U34300TN2003PLC050368	Auto (India) Engineering Limited	Director	2/07/2008	24/12/2007	-	Amalgamated	NO
L34103TN2004PLC054667	Wabco India Limited	Director	17/06/2009	28/03/2008	12/05/2011	Active	NO
L27209TN1996PLC035293	Harita Seating Systems Limited	Director	7/08/2008	23/04/2008	-	Active	NO
U25200TN2008PLC068513	Harita Fehrer Limited	Director	9/07/2008	9/07/2008	-	Active	NO
U29249TN1992PLC051417	Sundaram Auto Components Limited	Director	17/08/2009	6/05/2009	-	Active	NO
U24293TN1999PLC042327	Harita-Nti Limited	Director	29/09/2010	21/09/2009	-	Active	NO
U40109TN2008PLC069101	TVS Energy Limited	Director	30/07/2010	3/12/2009	-	Active	NO
U70101TN2010PLC075027	TVS Housing Limited	Additional director	21/06/2010	21/06/2010	3/06/2011	Active	NO
U40105TN2011PLC078729	TVS Wind Power Limited	Director	6/01/2011	6/01/2011	-	Active	NO
U40109TN2011PLC078719	TVS Wind Energy Limited	Director	6/01/2011	6/01/2011	-	Active	NO
U45200TN2010PLC075953	Emerald Haven Realty Limited	Director	30/09/2011	3/06/2011	-	Active	NO
U99999DL1959PLC176013	Automotive Component Manufacturers Association of India	Director	6/09/2011	6/09/2011	-	Active	NO

Name :

Mr. Kunnath Narayanan Radhakrishnan

Designation :

Director

Address :

“Shoba Aster”, Apartment No.1022, 113/3 Bilekahalli Village, Vijaya Bank Colony, Bangalore – 560076, Karnataka, India

Date of Birth/Age :

15.07.1962

Date of Appointment :

16/07/2010

DIN No.:

02599393

Other Directorship :

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
U50404TN2009PLC071075	TVS Motor Services Limited	Director	30/07/2010	22/04/2009	-	Active	NO
U65920TN2008PLC069758	TVS Credit Services Limited	Director	23/06/2010	17/02/2010	-	Active	NO
U29249TN1992PLC051417	Sundaram Auto Components Limited	Director	8/09/2010	16/07/2010	-	Active	NO
U34100WB2011PLC164616	Neo Strategic Motors Limited	Director	7/07/2011	7/07/2011	-	Active	NO

Name :

Mr. Seeplaputhur Ganapathiramaswamy Murali

Designation :

Director

Address :

Plot No. 8, “Shruthi” 515 Housing Colony, H. A. L. III Stage, Bangalore – 560 075, Karnataka, India

Date of Birth/Age :

26.09.1950

Date of Appointment :

16/07/2010

DIN No.:

00348902

Other Directorship :

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
U93090TN1983GAT009948	TVS Motor Harita Employees Welfare Foundation Private Limited	Director	21/11/2002	21/11/2002	-	Active	NO
U50404TN2009PLC071075	TVS Motor Services Limited	Director	30/07/2010	22/04/2009	-	Active	NO
U29249TN1992PLC051417	Sundaram Auto Components Limited	Director	8/09/2010	16/07/2010	-	Active	NO
U40109TN2011PLC078719	TVS Wind Energy Limited	Director	27/06/2011	16/02/2011	-	Active	NO
U40105TN2011PLC078729	TVS Wind Power Limited	Director	27/06/2011	16/02/2011	-	Active	NO
U70101TN2010PLC075027	TVS Housing Limited	Director	12/08/2011	3/06/2011	-	Active	NO
U34100WB2011PLC164616	Neo Strategic Motors Limited	Director	7/07/2011	7/07/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Bashyam Sundaram Prayagai
Designation :	Manager
Address :	Block II, Type III, Door No. 3, Central Excise Housing, Thally Road, Hosur – 635109, Tamilnadu, India
Date of Birth/Age :	10.02.1955
Date of Appointment :	16/07/2010
Pan No.:	AEHPB8334D
Name :	Mr. Kalyanasundaram Dharmarajan
Designation :	Secretary
Address :	C-14, Ground Floor, TVS Nagar, Hosur – 635109, Tamilnadu, India
Date of Birth/Age :	04.05.1960
Date of Appointment :	13/03/2008
Pan No.:	ACYPD7722N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 12.09.2011

Names of Shareholders	No. of Shares
TVS Motor Company Limited, India	11549994
C Mukundhan (Nominee of TVS Motor Company Limited)	1
V N Venkatanathan (Nominee of TVS Motor Company Limited)	1
K Gopala Desikan (Nominee of TVS Motor Company Limited)	1
H Lakshmanan (Nominee of TVS Motor Company Limited)	1
C Narsimhan (Nominee of TVS Motor Company Limited)	1
Sujatha Balaji (Nominee of TVS Motor Company Limited)	1
Total	11550000

Equity Share Break up (Percentage of Total Equity)

As on 12.09.2011

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Air Brakes Hoses, rubber Moulded Components, plastics Moulded Component and Two Wheelers.

Products :

Item Code No. (ITC Code)	Product Description
4009.00	Air Brake Hoses
4016.99	Rubber Moulded Components
8714.00	Plastics Molded Components
8711.00	Automobiles

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Actual Production
Rubber Moulded Components	Nos.	47737774
Plastic Moulded Components	Nos.	47305706
Automobiles	Nos.	136414*

**Purchases

GENERAL INFORMATION

No. of Employees :

Approximately 350 [In Office – 80 and In Factory – 270]

Bankers :

· State bank of India, Industrial Finance Branch, 155 Anna Salai, Chennai -600 002, Tamilnadu, India

· The Bank of Nova Scotia - Coimbatore Branch, Classic Towers, 1547, Tiruchi Road, Coimbatore - 641 018, Tamilnadu, India

· ICICI Bank Limited, Tambaram Branch, Chennai, Tamilnadu, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee Term Loans	169.375	269.375
Working Capital Loans	33.562	0.000
Total	202.937	269.375
Notes: From banks: (a) Term loan Secured by equitable mortgage created by way of deposit of lease deeds of leasehold lands from SIPCOT admeasuring about 9.35 acres situated at Oragadam, Kancheepuram District, Tamil Nadu 60.000 (b) Term loan Secured by charge on specific plant and machinery situated at Chennai, Hosur and Himachal Pradesh Units 109.375 Total 169.375 Cash credit facility secured by hypothecation of entire current assets Viz, investment and receivables both present and future
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Working Capital Loans	29.132	17.970
Others Debts	251.746	85.021
Total	280.878	102.991

From holding company - TVS Motor Company Limited

Banking Relations :	--
Auditors :
Name :	Sundaram and Srinivasan Chartered Accountants
Address :	New No. 4, Old No. 23, Sir C P Ramaswamy Road, Alwarpet – 600 018, Tamilnadu, India
PAN No.:	AAAFS88124J
Holding company :	TVS Motor Company Limited, Chennai CIN No.: L35921TN1992PLC022845
Ultimate holding Companies :	Sundaram - Clayton Limited, ChennaiT V Sundram Iyengar & Sons Limited, Chennai CIN No.: L35999TN1962PLC004792
Joint Venture :	TVS Global Automobile Traders FZCO, Dubai
Fellow Subsidiaries :	· Anusha Investments Limited, Chennai · TVS Motor (Singapore) Pte Limited, Singapore · TVS Motor Company (Europe) B.V, Amsterdam · PT. TVS Motor Company Indonesia, Jakarta · TVS Energy Limited, Chennai · TVS Housing Limited, Chennai · TVS Wind Power Limited, Chennai · TVS Wind Energy Limited, Chennai · TVS Investments Limited, Chennai · Sundaram Investment Limited, Chennai · TVS Electronics Limited, Chennai CIN No.: L30007TN1995PLC032941 · Tumkur Property Holdings Limited, Chennai · Prime Property Holdings Limited, Chennai · TVS-E Access (India) Limited, Chennai · TVS-E Servicetec Limited, Chennai CIN No.: U72500TN2007PLC063540 · TVS Capital Funds Limited, Chennai · Sravanaa Properties Limited, Chennai · Southern Roadways Limited, Madurai · Sundaram Industries Limited, Madurai · The Associated Auto Parts Limited, Mumbai · TVS Interconnect Systems Limited, Madurai · TVS Logistics Services Limited, Madurai · Lucas-TVS Limited, Chennai · Sundaram Textiles Limited, Madurai · TVS Automobile Solutions Limited, Madurai · Sundaram Lanka Tyres Limited, Srilanka · NSM Holdings Limited, Madurai · TVSNet Technologies Limited, Madurai · TOR Projects & Services Limited, Madurai · NK Telecom Products Limited, Madurai · NK Telesystems Limited, Madurai · TVS Automotive Europe Limited, UK · TVS C J Components Limited, UK · TVS Logistics Iberia S.L., Spain · TVS Logistics Siam Limited, Thailand · TVS Autoserv GmbH, Germany · TVS Logistics Investment UK Limited, UK · YeleStre Holdings Limited, UK · Multipart (Holdings) Limited, UK · Multipart Solutions Limited, UK · Multipart Limited, UK (formerly known as IH Crick Property Company Limited, UK) · Msys Software Solutions Limited, UK · Globe Dynamics Limited, UK · Globe Transport Products Limited, UK · TVS Logistics Investments USA Inc., USA · TVS America Inc., USA · Manufacturers Equipment and Supply Company, USA · TVS Dynamic Global Freight Services Limited, Chennai · TVS Commutation Solutions Limited, Madurai · TVS RHR Finished Vehicles Logistics Solutions Limited, Chennai (formerly RHR Car Transportation Solutions Limited, Chennai) · TVS GMR Aviation Logistics Limited, Madurai · Lucas Indian Service Limited, Chennai · TVS Automotive Systems Limited, Chennai · Iranian Automotive Systems, Iran

CAPITAL STRUCTURE

As on 12.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs.120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11550000	Equity Shares	Rs.10/- each	Rs.115.500 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7400000	Equity Shares	Rs.10/- each	Rs.74.000 Millions

Of the above:-

(I) 24,50,000 Equity shares were allotted for consideration other than in cash.

(II) All the above shares are held by the holding company viz., TVS Motor Company Limited, Chennai and by its six nominees.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		74.000	74.000	74.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		417.696	361.258	293.483
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		491.696	435.258	367.483
LOAN FUNDS
1] Secured Loans		202.937	269.375	471.919
2] Unsecured Loans		280.878	102.991	4.927
TOTAL BORROWING		483.815	372.366	476.846
DEFERRED TAX LIABILITIES		30.014	22.544	20.244
TOTAL		1005.525	830.168	864.573
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		854.313	694.944	691.829
Capital work-in-progress		0.644	22.941	1.313
INVESTMENT		1.556	1.556	0.170
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	383.124	355.025	209.974
	Sundry Debtors	502.466	559.462	484.404
	Cash & Bank Balances	19.860	81.392	72.751
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	123.861	109.098	65.637
Total Current Assets		1029.311	1104.977	832.766
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	845.898	961.945	657.428
	Current Liabilities	0.000	0.000	0.000
	Provisions	34.401	32.305	4.077
Total Current Liabilities		880.299	994.250	661.505
Net Current Assets		149.012	110.727	171.261
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1005.525	830.168	864.573

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	7451.871	7782.382	4796.864
		Other Income	16.581	10.103	9.784
		TOTAL (A)	7468.452	7792.485	4806.648
Less	EXPENSES
		Consumption materials changes inventories	6357.167	6932.299
		Manufacturing Service costs	327.605	221.561	4683.359
		Employee related expenses	262.852	183.519
		Administrative selling other expenses	248.483	206.465
		TOTAL (B)	7196.107	7543.844	4683.359
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		272.345	248.641	123.289
Less	FINANCIAL EXPENSES (D)		67.061	51.737	76.316
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		205.284	196.904	46.973
Less/ Add	DEPRECIATION/ AMORTISATION (F)		93.213	72.937	67.713
	PROFIT BEFORE TAX (E-F) (G)		112.071	123.967	(20.740)
Less	TAX (H)		29.832	25.890	4.303
	PROFIT AFTER TAX (G-H) (I)		82.239	98.077	(25.043)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6.754	(51.021)	(25.978)
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	10.000	--
		Proposed Dividend		25.900	--
		Dividend Tax Payable		4.402	--
	BALANCE CARRIED TO THE B/S		88.993	6.754	(51.021)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	38.043	15.126	30.292
		Other Earnings	0.931	0.449	1.354
	TOTAL EARNINGS		38.974	15.575	31.646
	IMPORTS
		Raw Materials	282.318	168.462	224.610
		Stores & Spares	0.658	1.085	1.504
		Capital Goods	70.347	34.867	12.125
	TOTAL IMPORTS		353.323	204.414	238.239
	Earnings Per Share (Rs.)		11.11	13.51	(6.87)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.10	1.26	(0.52)
Net Profit Margin (PBT/Sales)	(%)	1.50	1.59	(0.43)
Return on Total Assets (PBT/Total Assets}	(%)	5.95	6.89	(1.36)
Return on Investment (ROI) (PBT/Networth)		0.23	0.28	(0.06)
Debt Equity Ratio (Total Liability/Networth)		2.77	3.12	3.10
Current Ratio (Current Asset/Current Liability)		1.17	1.11	1.26

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

PERFORMANCE

Due to abnormal increase / volatility in price of rubber and the increase in fixed costs, the profitability of the Company was affected, resulting in lower contribution to the extent of 4% during the year 2010-11.

However, the Company has achieved a growth of 44% in the sale of Rubber and plastics components business during the year 2010-11 compared to the previous year 2009-10. The Company has earned a profit after tax of Rs.82.182 Millions during the year 2010-11 as against Rs.99.967 Millions in the previous year.

BUSINESS OUTLOOK

Two Wheeler industry is expected to achieve a growth of about 12% to 14% in the year 2011-12 compared to the previous year. The Company has been making investments for increasing the manufacturing capacity for catering to the needs of its customers.

Prizes / Awards won

During the year, the Company was awarded "National Best Partner for Business Development" by Hyundai Mobis in recognition of the outstanding performance and achievement in India, for the third time in succession.

CONTINGENT LIABILITY NOT PROVIDED FOR:

(a) On counter guarantee given to banks – Rs.4.521 Millions

(b) On letters of credit – Rs.109.283 Millions

(c) On bills of exchange drawn on customers discounted – Rs.95.516 Millions

(d) On import of capital goods under Export Promotion Capital Goods scheme – Rs.3.973 Millions

Fixed assets

· Land

· building

· Plant and Machinery, Tools, dies and Jigs

· Vehicles

· Furniture and Fixtures equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No 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.55.50
UK Pound	1	Rs.86.40
Euro	1	Rs.68.70

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		50

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	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.