MIRA
INFORM REPORT
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
TVS LOGISTICS SERVICES LIMITED |
|
|
|
|
Registered
Office : |
TVS Building, 7-B, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.11.2004 |
|
|
|
|
Com. Reg. No.: |
18-054655 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.187.622
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63011TN2004PLC054655 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRIT01242D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT1412E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing
logistics
services including aftermarket warehouse, in-plant warehouse, global supply
chain management services, domestic supply chain management services and
material handling services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5090000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a subsidiary of ‘T.V. Sundram Iyengar and Sons Limited’. It is a well established company having a fine track record. Trade
relations are reported as decent. Business is active. Payments are reported
to be regular and as per commitments. The company can be considered good 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 |
ICRA |
|
Rating |
Short term rating: A1 |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
February, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating: A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
February, 2013 |
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 : |
TVS Building, 7-B, |
|
Tel. No.: |
91-452-2356400 |
|
Fax No.: |
91-452-2341587 |
|
E-Mail : |
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|
Website : |
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|
|
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|
Corporate Office : |
58, Eldams Road, TK Kumarasamy Road, Teynampet, Chennai-600015,
Tamilnadu, India |
|
Tel. No.: |
91-44-66793222 |
|
Fax No.: |
91-44-66793127 |
|
E-Mail : |
|
|
|
|
|
Regional Office : |
Survey No. 461/2c, S and D Warehouse, Ambattur-Puzhai Road, Puzhai,
Chennai-600066, Tamilnadu, India |
|
|
|
|
Branch Office : |
AVA Towers, No. 152 and 150, TNEB Avenue, Annasalai, Chennai,
Tamilnadu, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Suresh Krishna |
|
Designation : |
Director |
|
Address : |
79, Poes Gorden, Chennai-600086, Tamilnadu, India |
|
Date of Birth/Age : |
24.12.1936 |
|
Date of Appointment : |
16.11.2004 |
|
DIN No.: |
00046919 |
|
|
|
|
Name : |
Mr. Santhanam Ram |
|
Designation : |
Director |
|
Address : |
Old No.29, New No.57, Prithvi Avenue, Chennai-600018, Tamilnadu, India
|
|
Date of Birth/Age : |
27.04.1940 |
|
Date of Appointment : |
16.11.2004 |
|
DIN No.: |
00018309 |
|
|
|
|
Name : |
Mr. Ramachandran Dinesh |
|
Designation : |
Director |
|
Address : |
16, Jawahar Road, Chokki Kulam, Madurai-625002, Tamilnadu, India |
|
Date of Birth/Age : |
25.02.1965 |
|
Date of Appointment : |
01.09.2008 |
|
PAN No.: |
AAJPD2850Q |
|
DIN No.: |
00363300 |
|
|
|
|
Name : |
Mr. Gopal Srinivasan |
|
Designation : |
Director |
|
Address : |
Old No.2, New No.3, West Side Houses, Adyar Club, Gate Road
Chennai-600028, Tamilnadu, India |
|
Date of Birth/Age : |
04.08.1958 |
|
Date of Appointment : |
05.08.2005 |
|
DIN No.: |
00177699 |
|
|
|
|
Name : |
Mr. Tarun Khanna |
|
Designation : |
Director |
|
Address : |
66, Druid Hill road, Newton, United States of America-02461 |
|
Date of Birth/Age : |
09.05.1966 |
|
Date of Appointment : |
21.11.2007 |
|
DIN No.: |
01760700 |
|
|
|
|
Name : |
Mr. Sanjeev Kishen Mehra |
|
Designation : |
Director |
|
Address : |
44, Mayfair Lane, Greenwich, United States of America-06831 |
|
Date of Birth/Age : |
07.01.1959 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
02195545 |
|
|
|
|
Name : |
Ms. Lavanya Ashok |
|
Designation : |
Alternate Director |
|
Address : |
139/6-2, Domlur Layout, Bangalore-560071, |
|
Date of Birth/Age : |
11.07.1982 |
|
Date of Appointment : |
26.03.2013 |
|
DIN No.: |
03453279 |
|
|
|
|
Name : |
Heramb Ravindra Hajarnavis |
|
Designation : |
Director |
|
Address : |
61, Apsara Bhojwani Nargis Dutt Road, Pali Hill, Near Dilip Kumar
Bunglows, Bandra (West), Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
13.09.1974 |
|
Date of Appointment : |
11.05.2012 |
|
DIN No.: |
01680435 |
KEY EXECUTIVES
|
Name : |
Mr. Raghunatha Rao Raghunath Ravi |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.4, 1st Floor, Rite Choice Swamyvas Apartment,
Anandapuram, Mylapore, Chennai-600004, Tamilnadu, India |
|
Date of Birth/Age : |
20.10.1954 |
|
Date of Appointment : |
08.09.2006 |
|
Pan No.: |
AAEPR7332Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
Note: Major Shareholder’s details file attached
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
43.09 |
|
Bodies corporate |
49.25 |
|
Directors or relatives of Directors |
5.00 |
|
Other top fifty shareholders |
2.65 |
|
Others |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing
logistics
services including aftermarket warehouse, in-plant warehouse, global supply
chain management services, domestic supply chain management services and material
handling services. |
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
City Union Bank ·
State Bank of India |
||||||||||||||||||
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|
||||||||||||||||||
|
Facilities : |
Footnotes (A) Cash credit from State Bank of India is secured by first charge on the entire receivables and other current assets and second charge on fixed assets acquired out of the term loan obtained from State Bank of India. The above short term borrowings carry interest ranging between 7.50% - 14.00% p.a. (B) Cash credit from State Bank of India is secured by first charge on the entire receivables and other current assets and second charge on fixed assets acquired out of the term loan obtained from State Bank of India. The above short term borrowings carry interest ranging between 7.50% - 14.00% p.a. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Sundaram Finance Limited, 21 Patullos Road, Chennai - 600002, Tamilnadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
KPMG House, No.10, Mahatma Gandhi Road, Nungambakkam High
Road, Chennai, Tamilnadu, India |
|
PAN No.: |
AAIFB7355D |
|
|
|
|
Holding Company : |
·
T V Sundram Iyengar and Sons Limited, India CIN No.:
U34101TN1929PLC002973 |
|
|
|
|
Subsidiaries : |
·
TVS Dynamic Global Freight Services Limited,
India CIN No.: U63010TN2007PLC064282 ·
TVS GMR Aviation Logistics Limited, India CIN No.: U60100TN2010PLC074341 ·
TVS Commutation Solutions Limited, India CIN No.: U60200TN2008PLC068631 ·
TVS RHR Finished Vehicles Logistics Solutions
Limited (formerly RHR Car Transportation Solutions Limited), India CIN No.:
U60200TN2009PLC071624 · FLEXOL Packaging (India) Limited, India CIN No.: U74990TN2010PLC076131 ·
TVS America Inc, ·
TVS Automotive Europe Limited, ·
TVS Logistics Siam Limited, ·
TVS Logistics Investment UK Limited, ·
TVS Logistics Investments USA Inc, USA |
|
|
|
|
Step down subsidiaries : |
· Yelestre Holdings Limited, UK · Multipart (Holdings) Limited, UK · TVS Supply Chain Solutions Limited, UK · (formerly Multipart Solutions Limited, UK) · MSys Software Solutions Limited, UK · Multipart Limited,UK · (formerly IH Crick Property Co Limited) · Globe Dynamics Limited, UK · (formerly Globe Transport Products Limited, UK) · Globe Transport Products Limited, UK · (Globe Dynamics Limited, UK) · TVS CJ Components Limited, UK · TVS Logistics Iberia S.L., Spain · TVS Autoserv GmbH, Germany · Manufacturers Equipment and Supply Company, USA |
|
|
|
|
Fellow Subsidiaries : |
·
Lucas TVS Limited, India CIN No.: U35999TN1961PLC004678 ·
Sundaram Industries Limited, India CIN No.: U65991TN1943PLC002656 ·
TVS Motor Company Limited, India CIN No.: L35921TN1992PLC022845 ·
Sundaram Clayton Limited, India CIN No.:
L35999TN1962PLC004792 ·
Lucas Indian Service Limited, India CIN No.:
U35999TN1930PLC005705 ·
TVS Net Technologies Limited, India CIN No.:
U72900TN2004PLC054575 |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
·
TVS Infrastructure Limited, India CIN No.:
U45200MH2005PLC154628 |
|
|
|
|
Other Related Parties : |
· TVS Supply Chain Solutions Limited, UK · TVS C J Components Limited, UK |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28800000 |
Equity Shares |
Rs.10/- each |
Rs. 288.000 Millions |
|
1200000 |
Preference Shares |
Rs.10/- each |
Rs. 12.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 300.000
Millions |
Issued and Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22886413 |
Equity Shares |
Rs.10/- each |
Rs. 228.864 Millions |
|
1114203 |
Preference Shares |
Rs.10/- each |
Rs. 11.142 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 240.886
Millions |
Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21909413 |
Equity Shares |
Rs.10/- each |
Rs. 219.094 Millions |
|
977000 |
Equity Shares |
Rs. 2/- each |
Rs. 1.954 Millions |
|
1114203 |
Preference Shares |
Rs.10/- each |
Rs. 11.142 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 232.190
Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 300.000
Millions |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12150000 |
Equity Shares (at par) |
Rs.10/- each |
Rs. 121.500 Millions |
|
5066800 |
Equity Shares (at a premium of Rs. 185.72 per share) |
Rs.10/- each |
Rs. 50.668 Millions |
|
390800 |
Equity Shares (at a premium of Rs. 185 per share) |
Rs.10/- each |
Rs. 3.908 Millions |
|
275800 |
Equity Shares (at a premium of Rs. 65 per share) |
Rs.10/- each |
Rs. 2.758 Millions |
|
1660400 |
Equity Shares |
Rs.10/- each |
Rs. 16.604 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 195.438
Millions |
Called, Subscribed and Paid up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18566800 |
Equity Shares |
Rs.10/- each |
Rs. 185.668 Millions |
|
977000 |
Equity Shares (Rs. 2 per share paid up) |
Rs.10/- each |
Rs. 1.954 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 187.622
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
187.622 |
187.622 |
174.122 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1085.398 |
1087.699 |
1056.526 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1273.020 |
1275.321 |
1230.648 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
958.231 |
363.698 |
478.881 |
|
|
2] Unsecured Loans |
638.629 |
280.000 |
100.307 |
|
|
TOTAL BORROWING |
1596.860 |
643.698 |
579.188 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2869.880 |
1919.019 |
1809.836 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
647.867 |
513.060 |
466.970 |
|
|
Capital work-in-progress |
15.356 |
0.000 |
14.897 |
|
|
|
|
|
|
|
|
INVESTMENT |
700.205 |
606.574 |
430.724 |
|
|
DEFERREX TAX ASSETS |
12.144 |
29.001 |
12.912 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14.251
|
6.197
|
2.613
|
|
|
Sundry Debtors |
900.388
|
503.525
|
791.075
|
|
|
Cash & Bank Balances |
17.840
|
43.741
|
200.340
|
|
|
Other Current Assets |
125.782
|
308.852
|
22.422 |
|
|
Loans & Advances |
1283.050
|
551.520
|
494.748
|
|
Total
Current Assets |
2341.311
|
1413.835
|
1511.198 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
558.741
|
400.351
|
292.309
|
|
|
Other Current Liabilities |
234.612
|
194.908
|
300.021
|
|
|
Provisions |
53.650
|
48.192
|
34.535
|
|
Total
Current Liabilities |
847.003
|
643.451
|
626.865 |
|
|
Net Current Assets |
1494.308
|
770.384
|
884.333
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2869.880 |
1919.019 |
1809.836 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4114.957 |
3922.577 |
2736.553 |
|
|
|
Other Income |
108.725 |
28.072 |
25.803 |
|
|
|
TOTAL (A) |
4223.682 |
3950.649 |
2762.356 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
1287.770 |
|
2574.694 |
|
|
|
Other expenses |
2637.987 |
2750.085 |
|
|
|
|
TOTAL (B) |
3925.757 |
3672.998 |
2574.694 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
297.925 |
277.651 |
187.662 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
161.038 |
99.657 |
56.616 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
136.887 |
177.994 |
131.046 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
114.981 |
87.629 |
66.449 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
21.906 |
90.365 |
64.597 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.583 |
39.567 |
24.431 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
17.323 |
50.798 |
40.166 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
151.049 |
124.955 |
103.017 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.732 |
5.079 |
4.016 |
|
|
|
Proposed Dividend |
16.886 |
16.886 |
12.188 |
|
|
|
Tax on Dividend |
2.739 |
2.739 |
2.024 |
|
|
BALANCE CARRIED
TO THE B/S |
147.015 |
151.049 |
124.955 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
60.259 |
118.400 |
28.542 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
16.840 |
14.833 |
0.353 |
|
|
|
Capital Goods |
0.000 |
62.976 |
1.073 |
|
|
TOTAL IMPORTS |
16.840 |
77.809 |
1.426 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
0.92 |
2.91 |
2.31 |
|
|
|
Diluted |
0.90 |
2.79 |
2.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.41
|
1.29
|
1.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.53
|
2.30
|
2.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.73
|
4.69
|
3.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.07
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.25
|
0.50
|
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.76
|
2.20
|
2.41 |
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 |
No |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
CHENNAI COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status: |
Pending |
|
Status Of: |
First Appeal |
|
Case No.: |
341 |
|
Year : |
2012 |
|
Petitioner : |
SOUTHERN FRIEHGT CARRIERS |
|
Respondent : |
TVS LOGISTICS SERVICES LIMITED |
|
Pet's Advocate : |
M/S.R.PONNUSAMY |
|
Res's Advocate : |
M/S.T.K.BHASKAR |
|
Category : |
No category mentioned Last Listed on: No Date Mentioned |
|
Case Updated on : |
July 31 2012 |
COMPANY OVERVIEW
Subject was
incorporated on 16 November 2004 and is in the business of providing logistic
services. The Company has been providing the entire basket of logistics
services including aftermarket warehouse, in-plant warehouse, global supply chain
management services, domestic supply chain management services and material
handling services.
BUSINESS REVIEW
The operating income of the Company for the year amounts to Rs 4114.900 millions as against Rs.3922.500 millions reported in the previous year.
The operating results of the Company and its subsidiaries has been satisfactory However, pressure on margins, coupled with higher finance cost has affected the profits for the year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Term loans from banks |
(A) 59.513 |
0.000 |
|
Loans repayable on demand |
579.116 |
280.000 |
|
Total |
638.629 |
280.000
|
Footnotes
(A) From City Union Bank
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U63011TN2004PLC054655 |
|
Name of the company |
TVS LOGISTICS SERVICES LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
TVS Building, 7-B, West Veli Street, Madurai-625 001, Tamilnadu, India E-mail: raghunath.ravi@tvs.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Others (Loan) |
|
Particular of charge holder |
Sundaram Finance Limited, 21 Patullos Road, Chennai - 600002, Tamilnadu, India E-mail: pv@sundaramfinance.in |
|
Nature of instrument creating charge |
Loan Agreement Dated 21.05.2012 Bearing CONT # HZ319527. |
|
Date of instrument Creating the charge |
21.05.2012 |
|
Amount secured by the charge |
Rs. 16.717 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 13.80%P.A. Terms of Repayment The total amount of Rs.16.717 millions (Finance amount - Rs.12.430 millions + Interest - Rs.4.287 millions) is repayable in 47 instalments Margin NIL Extent and Operation of the charge The total amount of Rs.16.717 millions (Finance amount - Rs.12.430 millions + Interest - Rs.4.287 millions) is repayable in 47 instalments |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Assets located at Ava Tower, New # 150 and 152, Old # 788 and 789,TNEB Avenue, Anna Road,Chennai-600002. |
FIXED ASSETS
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Computer software
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 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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
|
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.