MIRA INFORM REPORT

Report Date :

11.06.2012

IDENTIFICATION DETAILS

Name :	TATA JOHNSON CONTROLS AUTOMOTIVE LIMITED
Formerly Known As :	TATA JOHNSON CONTROLS AUTOMOTIVE PRIVATE LIMITED
Registered Office :	Plot No. 1, Survey No. 235/ 245, Hinjewadi, Taluka Mulshi, Pune–411027, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.01.1996
Com. Reg. No.:	25-015038
Capital Investment / Paid-up Capital :	Rs.127.000 Millions
CIN No.: [Company Identification No.]	U34300PN1996PLC015038
TAN No.: [Tax Deduction & Collection Account No.]	PNET01036A
PAN No.: [Permanent Account No.]	AAACT6342D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing of Automotive Seating Systems and Providing Engineering Services.
No. of Employees :	600 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 2500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a joint venture between Tata and Johnson Control Inc, USA. It is an established company having fine track. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be good for normal business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

LOCATIONS

Registered Office/ Manufacturing Division :	Plot No. 1, Survey No. 235/ 245, Hinjewadi, Taluka Mulshi, Pune – 411 027, Maharashtra, India
Tel. No.:	91-20-22932115/ 66738888/ 66738723
Fax No.:	91-20-22932638/ 66738989
E-Mail :	tjc@tacogroup.com umesh_gosavi@tjc.co.in
Website :	http://www.tacogroup.com
Location :	Owned
Factory 1 :	Pune plant and foam unit Plot #1, Survey #235/245, Hinjewadi, Taluka Mulshi, Pune - 411057, Maharashtra, India
Tel. No.:	91-20-22932115
Fax No.:	91-20-22932638
Factory 2 :	Engineering business 301-309, Sohrab Hall, 21, Sasoon Road, Behind Pune Railway Station, Pune 411 001, India
Tel. No.:	91-20-26000100
Fax No.:	91-20-26059104
Factory 3:	Chennai plant Plot #2, Ford India Supplier Park, SP Koil Post, Chengalpattu, Chennai – 603 204, Tamilnadu, India
Tel No:	91-44-27452811
Fax No:	91-44-27453011
Factory 4 :	Engineering Division 301, 3^rd Floor, Panchshil Tech Park, S.No.19, 20, Hinjewadi, Taluka Mulshi, Pune – 411 057, Maharashtra, India
Tel. No.:	91-20-66757777
Fax No.:	91-20-66757788
Overseas Office 1 :	Tata Johnson Systems Engineering 49200 Halyard Drive, Post Office Box 8010, Plymouth, MI 48170, USA
Overseas Office 2 :	Tata Johnson Controls Automotive Limited C/o Johnson Controls GmbH, Main Building, Room No. 009 – 0046 Industries Tresses 20-30 51399, Burscheid, Germany
Corporate Office:	Taco House, Damle Path, Off Law College Road, Pune – 411 004, Maharashtra, India
Fax No:	91-20-66085034/ 66085102
Representative Office 1:	2792 Alisop Place Suite #207, Troy MI 48084, US
Tel No:	1-248-205-7853
Fax No:	1-248-404-9533
Representative Office 2:	3403 Shanghai Information Tower, 211 Century Avenue, Pudong, Shanghai-200120, China
Tel No:	86-21-58781986
Fax No:	86-21-58784667

DIRECTORS

AS ON 26.09.2011

Name :	Mr. Rajendra R. Bhinge
Designation :	Chairman cum Managing Director
Address :	Flat No. 3501, Tower 2, Planet Godrej, Keshavrao Khadye Road, Mumbai- 400011, Maharashtra, India
Date of Birth/Age :	29.05.1952
Date of Appointment :	25.07.1996
DIN No.:	00036557

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
U01110MH1990PLC057600	Oriental Floratech India Limited	Director	16/04/1991	16/04/1991	26/05/2009	Active	NO
U84200MH1992PLC066138	Itel Industries Limited	Director	27/03/1992	27/03/1992	28/08/2008	Active	NO
U74999MH1993PLC072118	Oriental Seritech Limited	Director	25/05/1993	25/05/1993	7/08/2009	Active	NO
U34300PN1996PLC015038	Tata Johnson Controls Automotive Limited	Director	25/07/1996	25/07/1996	-	Active	NO
L32200MH1940PLC003164	Nelco Limited	Director	29/08/2003	29/08/2003	-	Active	NO
U34100MH1995PLC093733	Tata Autocomp Systems Limited	Director	30/07/2004	30/07/2004	-	Active	NO
U31900MH2005PLC158120	Infiniti Retail Limited	Director	16/12/2005	16/12/2005	-	Active	NO
U51900MH2006PLC159776	Computational Research Laboratories Limited	Director	6/08/2007	14/07/2006	-	Active	NO
U67120MH1987PLC044351	Tatanet Services Limited	Director	14/09/2011	14/09/2011	-	Active	NO

Name :	Mr. Ajay Hari Tandon
Designation :	Director
Address :	Rose Land Residency, Row House No. 93, Gate No. 3, Pimple Saudagar, Pune- 411027, Maharashtra, India
Date of Birth/Age :	07.01.1959
Date of Appointment :	12.04.2008
DIN No.:	00128667

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
U32109PN2005PTC020334	Trimble Mobility Solutions India Private Limited	Director	29/12/2008	10/04/2008	14/12/2010	Active	NO
U74999MH1998PLC112992	Tata Ficosa Automotive Systems Limited	Director	29/09/2008	10/04/2008	-	Active	NO
U31902PN2005PTC020905	Visteon Automotive (India) Private Limited	Additional director	10/04/2008	10/04/2008	15/02/2010	Active	NO
U34300PN1996PLC015038	Tata Johnson Controls Automotive Limited	Director	29/09/2008	12/04/2008	-	Active	NO
U32109PN2007PLC129527	Taco Sasken Automotive Electronics Limited	Director	16/07/2008	29/04/2008	25/12/2008	Under liquidation	NO
U29299PN2008PLC132935	Isri Tjc Automotive Seating Limited	Director	8/04/2009	16/10/2008	-	Active	NO
U28910TN1997PLC047905	Sungwoo Gestamp Hitech (Chennai) Limited	Nominee director	25/12/2008	25/12/2008	4/02/2009	Active	NO
U29299PN2005PTC020907	Visteon Engineering Center (India) Private Limited	Director	4/09/2009	1/09/2009	15/02/2010	Active	NO
U34300PN2000PLC015253	Taco Composites Limited	Director	6/06/2010	4/05/2010	-	Active	NO
L28932PN1990PLC016314	Automotive Stampings and Assemblies Limited	Additional director	27/07/2011	27/07/2011	-	Active	NO

Name :	Mr. Rameshwar Singh Thakur
Designation :	Director
Address :	Flat No. 205, Burlington, Hiranandani Estate, patlipada Thane West, Mumbai- 400607, Maharashtra, India
Date of Birth/Age :	06.09.1948
Date of Appointment :	29.09.2009
DIN No.:	00020126

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
L35911GA1980PLC000400	Automobile Corporation Of Goa Limited	Director	30/07/2002	30/07/2002	6/07/2010	Active	NO
U24110MH1972PLC015561	Concorde Motors (India) Limited	Director	21/10/2004	21/10/2004	21/01/2008	Active	NO
U29120MP1995PLC009773	Tata Precision Industries (India) Limited	Director	16/12/2005	16/12/2005	24/10/2007	Active	NO
U50300MH1997PLC149349	Tata Motors Insurance Broking And Advisory Services Limited	Director	27/04/2006	27/04/2006	21/01/2008	Active	NO
U29100PN2000PLC130290	Tal Manufacturing Solutions Limited	Director	7/07/2007	17/07/2006	-	Active	NO
U34101MH2006PLC164771	Tata Marcopolo Motors Limited	Nominee director	25/06/2007	20/09/2006	1/07/2010	Active	NO
U34100MH1995PLC093733	Tata Autocomp Systems Limited	Managing director	9/12/2010	28/12/2007	-	Active	NO
U31300PN2005PLC021394	Tata Autocomp Gy Batteries Limited	Director	21/06/2010	9/04/2008	-	Active	NO
U34300PN2003PTC021545	Knorr-Bremse Systems For Commercial Vehicles India Private Limited	Additional director	9/04/2008	9/04/2008	26/08/2008	Active	NO
U28910TN1997PLC047905	Sungwoo Gestamp Hitech (Chennai) Limited	Nominee director	9/04/2008	9/04/2008	4/02/2009	Active	NO
U29130PN2006PTC128649	Taco Hendrickson Suspensions Private Limited	Director	21/07/2008	10/04/2008	26/08/2008	Active	NO
L28932PN1990PLC016314	Automotive Stampings and Assemblies Limited	Director	27/06/2008	29/04/2008	-	Active	NO
U34300PN1999PLC014564	Mubea Suspension India Limited	Director	25/09/2008	6/05/2008	26/12/2008	Active	NO
U34300PN2000PLC015253	Taco Composites Limited	Director	30/12/2008	6/05/2008	-	Active	NO
U34300PN1997PLC015436	Tata Yazaki Autocomp Limited	Director	23/09/2009	8/07/2008	-	Active	NO
U63000MH2008PLC180593	Tml Distribution Company Limited	Additional director	11/07/2008	11/07/2008	17/11/2008	Active	NO
U32109PN2007PLC129527	Taco Sasken Automotive Electronics Limited	Director	14/07/2009	25/12/2008	-	Under liquidation	NO
U34300PN1996PLC015038	Tata Johnson Controls Automotive Limited	Director	29/09/2009	5/01/2009	-	Active	NO
U72900MH2000PLC126195	Drive India Enterprise Solutions Limited	Director	8/08/2011	30/09/2010	-	Active	NO
U99999PN1997PLC110139	Tata Toyo Radiator Limited	Additional director	1/09/2011	1/09/2011	-	Active	NO

Name :	Mr. Jurgen Kemper
Designation :	Director
Address :	394, Laurel Wood Ave, 275980, Singapore- 275980
Date of Birth/Age :	24.04.1971
Date of Appointment :	29.09.2009
DIN No.:	02631685
Name :	Mr. Chetan P. Tolia
Designation :	Director
Address :	Flat No. C 302, Plot No. 47, Viman Nagar, Pune- 411014, Maharashtra, India
Date of Birth/Age :	02.10.1963
Date of Appointment :	29.09.2009
DIN No.:	00457784

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
U45200JH2003PLC010315	Jamshedpur Utilities and Services Company Limited	Director	25/08/2003	25/08/2003	15/11/2007	Active	NO
U45209PN2005PLC020270	Tata Bluescope Steel Limited	Managing director	20/10/2005	20/10/2005	1/08/2008	Active	NO
U31300PN2005PLC021394	Tata Autocomp Gy Batteries Limited	Director	17/07/2009	30/12/2008	21/08/2009	Active	NO
U34300PN1996PLC015038	Tata Johnson Controls Automotive Limited	Director	29/09/2009	5/01/2009	-	Active	NO
U34300PN2005PTC021693	Shriniwas Engineering Auto Components Private Limited	Nominee director	21/03/2011	21/03/2011	1/08/2011	Active	NO

Name :	Mr. Mitul Rustagi
Designation :	Director
Address :	L 411, 2^nd Floor, Sarita Vihar, New Delhi-110076, India
Date of Birth/Age :	01.09.1968
Date of Appointment :	18.02.2011
DIN No.:	03379848
Name :	Mr. Paul Chawla
Designation :	Director
Address :	1007-B, Aralias, DLF Golda Links, Phase V, DLF City Gurgaon-122009, Haryana, India
Date of Birth/Age :	01.09.1965
Date of Appointment :	08.04.2011
DIN No.:	03486146

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U34300PN1996PLC015038	Tata Johnson Controls Automotive Limited	Additional director	08-04-11	08-04-11	Active	NO
2	U33130MH1995PTC111247	Johnson Controls (India) Private Limited	Director	30-09-11	21-06-11	Active	NO
3	U29191PN2000PLC015669	York India Limited	Director	30-09-11	21-06-11	Active	NO

Name :	Mr. Stevens David Mark
Designation :	Director
Address :	237, Arcadia Road, 09-03, Block- B, Singapore- 289844
Date of Birth/Age :	25.05.1961
Date of Appointment :	26.09.2007
DIN No. :	01764752
Name :	Mr. Bruce William Fry
Designation :	Director
Address :	46758, Creeks BND, Canton, MI 48188 2383, Michigan
Date of Birth/Age :	21.08.1965
Date of Appointment :	26.08.2011
DIN No. :	03541692
Name :	Mr. Atam Prakash Arya
Designation :	Director
Address :	G-1-B, NIldih Road, Nildih Golmuri Post, Jamshedpur-831003, Jharkhand, India
Date of Birth/Age :	15.10.1947
Date of Appointment :	26.08.2011
DIN No. :	00020001

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U34101JH1993PLC005546	Tata Cummins Limited	Director	25-09-96	25-09-96	23-07-07	Active	NO
2	U29113PN1994FLC139153	Cummins Technologies India Limited	Director	18-06-99	18-06-99	27-02-07	Active	NO
3	U34100MH2000PLC124874	TML Drivelines Limited	Director	27-02-01	27-02-01	22-08-07	Active	NO
4	U29130MH2000PLC124872	Hv Transmissions Limited	Director	27-02-01	27-02-01	22-08-07	Amalgamated	NO
5	U29100PN2000PLC130290	Tal Manufacturing Solutions Limited	Managing director	12-07-07	17-05-07	-	Active	NO
6	U85110KA1989PLC013224	Tata Advanced Materials Limited	Director	26-09-08	26-11-07	-	Active	NO
7	U99999PN1997PLC110139	Tata Toyo Radiator Limited	Director	25-07-09	30-12-08	17-08-11	Active	NO
8	U34300PN1996PLC015038	Tata Johnson Controls Automotive Limited	Additional director	26-08-11	26-08-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Umesh M. Gosavi
Designation :	Company Secretary
Address :	Vasant, 61B, Rambaug Colony, Paud Road, Pune-411038, Maharashtra, India
Date of Birth/Age :	07.02.1963
Date of Appointment :	14.03.2000
PAN No. :	AAWPG9241R
Name :	Mr. Belani Ashok Kumar
Designation :	Manager
Address :	Flat No. 1412, Building No. 1, Clover Highlands, Near Nimba Road, Pune- 411048, Maharashtra, India
Date of Birth/Age :	01.05.1960
Date of Appointment :	01.04.2008
PAN No. :	AAAPB0812B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2011

Names of Shareholders	No. of Shares
Tata Autocomp Systems Limited, India	6349700
Tata Autocomp Systems Limited, India	150
Johnson Controls Internationals, Netherlands	6350000
Tata Autocomp Systems Limited, India	50
Tata Autocomp Systems Limited, India	50
Tata Autocomp Systems Limited, India	25
Tata Autocomp Systems Limited, India	25
Total	12700000

AS ON 26.09.2011

Equity Shares Break Up	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Automotive Seating Systems and Providing Engineering Services.

Products :

· Automobile Sealing Systems

· Accessories (Seat Covers) for automotive seating systems

· Seating Systems and Components

Item Code No. (ITC Code)	94012000
Product Description	Automotive Seating Systems and Components

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Automotive Seating Systems	Sets	1160000	1160000	880701
	Nos.	--	--	8098
Floor Consoles	Sets.	15000	15000	4818
	Nos.	--	--	11767
Other Automotive Components	Sets	--	--	17199
	Nos.	--	--	2769

Notes:

(1) The licensed capacity is as per the Industrial Enter pruner Memorandum (IEM) filed/to be filed with the Ministry of Commerce and Industry, the Secretariat for Industrial Assistance.

(2) The installed capacity has been certified by the CEO and relied upon by the auditors without verification, this being a technical matter.

(3) Other automotive components are manufactured out of the capacity for automotive seating systems.

(4) Accessories and Components are not earmarked for sale as such. The Company considers a component as 'meant for sale' only when it is actually sold and hence no stocks/purchases are indicated. The cost of such accessories and components sold is included in consumption of raw materials and components. It is not practicable to furnish quantitative information in respect of sales of accessories and components in view of considerable number of items diverse in size and nature.

(5) Production includes third party manufacturing on behalf of the Company.

(6) Sales excludes 1,922 Nos. (478 Nos.) given as samples/warranty/consumed for testing.

GENERAL INFORMATION

No. of Employees :

600 (Approximately)

Bankers :

· Corporation Bank, Aditi Commerce Centre, Camp Branch, Pune Camp, Pune – 411 001, Maharashtra, India

· HSBC Bank

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee Term Loans Secured
Rupee term loans banks secured	140.829	216.100
Total	140.829	216.100
Notes: (A) Includes: HSBC Bank Rs 70.900 Millions (Above loan from bank is secured by pari passu charge, with existing lenders, over movable plant and machinery (both present and future)) Corporation Bank RS 69.929 Millions (Above loan from bank is secured by hypothecation of stocks, book debts and pari passu first charge on movable fixed assets and also by an equitable mortgage by deposit of title deeds of land and buildings.) (B) Includes: HSBC Bank Rs 141.800 Millions (Above loan from bank is secured by pari passu charge, with existing lenders, over movable plant and machinery (both present and future)) Corporation Bank Rs. 74.3300 Millions (Above loan from bank is secured by hypothecation of stocks, book debts and pari passu first charge on movable fixed assets and also by an equitable mortgage by deposit of title deeds of land and buildings.)

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	706, B Wing, 7^th Floor, ICC Tower, Senapati Bapat Road, Pune- 411016, Maharashtra, India
Tel. No.:	91-20-66244600
Fax No.:	91-20-56244605
Joint Venture :	ISRI TJC Automotive Seating Limited
Subsidiaries :	Tata Johnson Systems Engineering LLC
Venture in the Company :	· Johnson Controls International B.V. · Tata Autocomp Systems Limited

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
12700000	Equity Shares	Rs.10/- each	Rs.127.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12700000	Equity Shares	Rs.10/- each	Rs. 127.000 Millions

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		127.000	127.000	127.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		513.577	364.302	266.067
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		640.577	491.302	393.067
LOAN FUNDS
1] Secured Loans		140.829	216.100	212.700
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		140.829	216.100	212.700
DEFERRED TAX LIABILITIES		14.000	5.000	5.000
TOTAL		795.406	712.402	610.767
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		756.821	576.280	579.699
Advance on Capital Account		0.000	0.000	11.284
Capital work-in-progress		8.328	86.797	68.063
INVESTMENT		23.319	23.319	33.405
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	216.562	213.883	206.573
	Sundry Debtors	773.828	535.831	449.128
	Cash & Bank Balances	276.906	492.641	265.921
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	279.926	319.018	252.240
Total Current Assets		1547.222	1561.373	1173.862
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1125.498	1218.264	908.568
	Other Current Liabilities	160.413	66.272	93.605
	Provisions	254.373	250.831	253.373
Total Current Liabilities		1540.284	1535.367	1255.546
Net Current Assets		6.938	26.006	(81.684)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		795.406	712.402	610.767

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales (Net)	6846.710	4403.238	3496.556
		Engineering Services	0.000	882.743	1261.194
		Other Income	70.515	87.633	54.933
		TOTAL (A)	6917.225	5373.614	4812.683
Less	EXPENSES
		Consumption of Raw Materials and Components	4827.642	3541.621	2866.116
		(Increase)/ Decrease in Finished Goods and work-in-progress stocks	0.000	1.427	(1.223)
		Manufacturing Service Cost	181.959	0.000	0.000
		Employees Cost	758.965	743.578	771.423
		Other Expenses	470.483	535.149	685.942
		TOTAL (B)	6239.049	4821.775	4322.258
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		678.176	551.839	490.425
Less	FINANCIAL EXPENSES (D)		9.973	22.334	34.034
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		668.203	529.505	456.391
Less/ Add	DEPRECIATION/ AMORTISATION (F)		129.696	102.627	109.803
	PROFIT BEFORE TAX (E-F) (G)		538.507	426.878	346.588
Less	TAX (H)		163.620	147.371	95.378
	PROFIT AFTER TAX (G-H) (I)		374.887	279.507	251.210
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		232.983	162.699	61.420
Less	APPROPRIATIONS
		Interim Dividend	96.012	72.000	31.750
		Proposed Dividend	97.790	82.940	74.930
		Tax on Dividend	31.810	26.332	18.130
		Transfer to General Reserve	37.489	27.951	25.121
	BALANCE CARRIED TO THE B/S		344.769	232.983	162.699
	EARNINGS IN FOREIGN CURRENCY
		Income from Engineering Services	832.392	845.243	1207.483
		FOB Value of Exports	34.631	33.337	33.737
		Recovery for employee deputation	3.876	4.055	6.393
		Others	15.353	3.519	0.000
	TOTAL EARNINGS		886.252	886.154	1247.613
	IMPORTS
		Raw Materials	213.875	226.249	429.444
		Capital Goods	36.638	28.087	17.996
		Spare Parts	4.952	0.603	2.354
		Others	0.000	1.923	1.513
	TOTAL IMPORTS		255.465	256.862	451.307
	Earnings Per Share (Rs.)		29.52	22.01	19.78

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.42	5.20	5.22
Net Profit Margin (PBT/Sales)	(%)	7.87	9.69	9.91
Return on Total Assets (PBT/Total Assets}	(%)	23.37	19.97	19.76
Return on Investment (ROI) (PBT/Networth)		0.84	0.87	0.88
Debt Equity Ratio (Total Liability/Networth)		2.65	3.56	3.73
Current Ratio (Current Asset/Current Liability)		1.00	1.02	0.93

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1. Year of Establishment	Yes
2. Locality of the firm	Yes
3. Constructions 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	Yes
21. Market information	------
22. Litigations that the firm / promoter involved	------
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

REVIEW OF OPERATION

The Company’s earnings increased by 34.97% for manufacturing operations and 2.32% for Engineering Services compared to the previous financial year. The net profit for the year has increased by 34.12% compared to the previous financial year.

FORM 8

Corporate identity number of the company	U34300PN1996PLC015038
Name of the company	TATA JOHNSON CONTROLS AUTOMOTIVE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 1, Survey No. 235/ 245, Hinjewadi, Taluka Mulshi, Pune – 411 027, Maharashtra, India E-Mail: umesh_gosavi@tjc.co.in
This form is for	Modification of charge
Charge identification number of the modified	90084668
Type of charge	Immovable Property Book Debts Movable Property Others (Plant and Machinery, Furniture and Fixture, Other Movables)
Particular of charge holder	Corporation Bank, Aditi Commerce Centre, Camp Branch, Pune Camp, Pune – 411 001, Maharashtra, India E-Mail: cb132@corpbank.co.in
Nature of description of the instrument creating or modifying the charge	1. Sixth supplemental common deed of hypothecation of movable/assets/debts (for additional security) 2. Letter of continuity Both constitute a single charge
Date of instrument Creating the charge	29.03.2010
Amount secured by the charge	Rs.303.900 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: As per the sanctioned letter dated 25.01.2010 and supplemental deed of hypothecation dated 29.03.2010 Terms of Repayment: As per the sanctioned letter dated 25.01.2010 and supplemental deed of hypothecation dated 29.03.2010 Margin: As per the sanctioned letter dated 25.01.2010 and supplemental deed of hypothecation dated 29.03.2010 Extent and Operation of the charge: First charge on current assets and immovable fixed assets and movable fixed assets
Short particulars of the property charged	All the present and future stocks of goods, Book Debts (Receivables) and on inventory owned by the company situated at the Plot No 1, Sy No. 235/245, Village Hinjewadi, Taluka Mulshi, Pune 411027 Hypothecation of Fixed Movable Security namely Plant and Machinery, Furniture and Fixtures and Licensed Software etc. Immovable property of the Company situated at Plot No.1 comprising of land S No.235 and S No. 245 at Village Hinjewadi, Taluka Mulsi, Pune 411 027 as continuing security Lease hold rights located at Village Kilkarani, Taluka Chingalput, District Kanchepuram, in Tamil Nadu along with the building existing thereon.
Date of latest modification prior to the present modification	31/10/2006
Particulars of the present modification	By way this modification the Credit Facility has been increased by Rs. 89.300 millions from Rs. 220.000 millions to Rs. 309.300 millions. Now the existing credit facilities stands are as under : 1)Cash Credit- PCL/PCFC-FDBN/FDBP/FDBD - Rs.180.000 millions 2)Import/Inland LC cum BG - Rs.55.000 millions (increased by Rs.15.000 millions) 3)Term Loan - Rs.74.300 millions (New Facility)

FIXED ASSETS:

v Freehold Land

v Leasehold Land

v Buildings

v Plant and Machinery

v Furniture and Fixtures

v Infrastructure Development Costs

v Motor Vehicles

v Improvement to Leased Premises

v Licensed Software

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. 55.36
UK Pound	1	Rs. 85.63
Euro	1	Rs. 69.21

INFORMATION DETAILS

Information Gathered by :	--
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		52

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.