MIRA
INFORM REPORT
|
Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
T.V SUNDARAM IYENGAR AND SONS LIMITED |
|
|
|
|
Registered
Office : |
TVS Building, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.10.1929 |
|
|
|
|
Com. Reg. No.: |
18-002973 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.114.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34101TN1929PLC002973 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT0159K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged primarily in the business of trading in Automobile vehicles,
spare parts, fuel and other related services. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 19000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a part of TVS Group. It is a well-established company
having fine track record. The management has failed to file its financial with government department
for the year 2013. As per available financial of 2012, financial position of the company
appears to be strong. Over all fundamentals of the company appears to be
sound and healthy. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered 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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn Rs.400000
million from the bandwidth auction set for January. The merger and acquisition
guidelines, cleared by a group of ministers, will be out before the auction
begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans : AA+ |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
February 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based facilities: A1+ |
|
Rating Explanation |
Very strange degree of safety and lowest 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, West Veli Street, Madurai – 625001, Tamil Nadu, India |
|
Tel. No.: |
91-452-4356400 |
|
Fax No.: |
91-452-2341587 |
|
E-Mail : |
tvsco@tvssons.com b.ganapathisarma@tvssons.com |
|
Website : |
http://www.tvsiyengar.com |
|
|
|
|
Chennai Office : |
58, |
|
Tel. No.: |
91-44-66793222 91-44-28349650 |
|
Fax No.: |
91-44-66793035 |
|
|
|
|
TVS Division: |
Madurai, Tirunelveli, Tiruchirapalli, Pudukottai, Salem, Coimbatore, Dharmapuri,
Villupuram, Namakkal, Thiruvananthapuram, Ernakulam, Kottayam, Kannur,
Kozhikode, Kollam, Palakkad, Thrissur, Malappuram, Pondicherry, Indore,
Bhopal, Rewa, Ratlam, Gwalior, Raipur, Jabalpur, Kanpur, Lucknow, Bareilly,
Haldwani, Meerut and `Bangalore. |
|
|
|
|
Sundaram Motors Division: |
Chennai, Poonamallee, Vellore, Bangalore, Shimoga, Mysore, Mangalore,
Hubli, Gulbarga, Belgaum, Bellary, Yeshwantpur, Secunderabad, Visakhapatnam, Vijayawada,
Nellore, Kakinada, Cuddapah, Hyderabad, Pondicherry, Ponda (Goa), Kolhapur,
Pune, Mumbai, Nagpur, Cuttack, Berhampur and Ahmedabad. |
|
|
|
|
Madras Auto Services Division: |
Chennai, Salem, Coimbatore, Erode, Vellore, Tiruchirapalli, Bangalore,
Shimoga, Mysore, Hubli, Mangalore, Bellary, Belagum, Margoa, Visakhapatnam,
Kurnool, Nellore, Hyderabad, Rajahmundry, Ernakulam, Kottayam, Kannur,
Kozhikode, Thrissur, Kolhapur, Pune, Nagpur, Aurangabad, Bhopal, Raipur and
Indore. |
DIRECTORS
As on 25.10.2012
|
Name : |
Mr. Suresh Krishna |
|
Designation : |
Director |
|
Address : |
79, Poes Garden, Chennai – 600 086, Tamilnadu, India |
|
Date of Birth/Age : |
24.12.1936 |
|
Date of Appointment : |
25.12.1970 |
|
DIN No.: |
00046919 |
|
PAN No.: |
AABPK3154E |
|
|
|
|
Name : |
Mr. Krishna Ramesh |
|
Designation : |
Director |
|
Address : |
No. 18, Jawahar Raod, Chkkikulam, Madurai – 625 002, Tamilnadu, India |
|
Date of Birth/Age : |
17.02.1939 |
|
Date of Appointment : |
25.12.1970 |
|
DIN No.: |
00556922 |
|
PAN No.: |
AASPR9993K |
|
|
|
|
Name : |
Mr. Santhanam Ram |
|
Designation : |
Director |
|
Address : |
Old No. 29, New No. 57, Prithvi Avenue, Chennai – 600 018, Tamilnadu,
India |
|
Date of Birth/Age : |
27.04.1940 |
|
Date of Appointment : |
25.12.1970 |
|
DIN No.: |
00018309 |
|
|
|
|
Name : |
Mr. Krishna Mahesh |
|
Designation : |
Whole-time Director |
|
Address : |
New no. 81, old No. 39, First Main Road, Raja
Annamali Puram, Chennai – 600 028, Tamilnadu, India |
|
Date of Birth/Age : |
11.10.1943 |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
00051438 |
|
PAN No.: |
AFZPM3304H |
|
|
|
|
|
|
|
Name : |
Mr. Santhanam Viji |
|
Designation : |
Director |
|
Address : |
Old No. 33, New No. 71, poes
Garden, Chennai – 600 086, Tamilnadu, India |
|
Date of Birth/Age : |
07.06.1946 |
|
Date of Appointment : |
30.08.1976 |
|
DIN No.: |
00139043 |
|
|
|
|
Name : |
Mr. Venu Srinivasan |
|
Designation : |
Director |
|
Address : |
3 Adyar Club Gate Road, R A Puram, Chennai – 600 028, Tamilnadu, India |
|
Date of Birth/Age : |
11.12.1952 |
|
Date of Appointment : |
29.06.1979 |
|
DIN No.: |
00051523 |
|
|
|
|
Name : |
Mr. Gopal Srinivasan |
|
Designation : |
Director |
|
Address : |
West Side House, 3 Adyar Club Gate Road, Chennai – 600028, Tamilnadu,
India |
|
Date of Appointment : |
31.08.1979 |
|
DIN No.: |
00177699 |
|
|
|
|
Name : |
Mr. Balaji Kumara Thirumala |
|
Designation : |
Director |
|
Address : |
34 Poes Garden, Chennai – 600 086, Tamilnadu, India |
|
Date of Birth/Age : |
12.07.1948 |
|
Date of Appointment : |
31.08.1979 |
|
DIN No.: |
00002010 |
|
|
|
|
Name : |
Mr. Haresh Ramachandhran |
|
Designation : |
Managing Director |
|
Address : |
16 Jawahar Road, Chokkikulam, Madurai – 625 002, Tamilnadu, India |
|
Date of Birth/Age : |
29.11.1954 |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
00363096 |
|
PAN No.: |
AADPH3169A |
|
|
|
|
Name : |
Mr. Ramchandran Dinesh |
|
Designation : |
Managing Director |
|
Address : |
16 Jawahar Road, Chokkikulam, Madurai – 625 002, Tamilnadu, India |
|
Date of Birth/Age : |
25.02.1965 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00363300 |
|
PAN No.: |
AAJPD2850Q |
|
|
|
|
Name : |
Mr. Srinath Ratnam Rajam |
|
Designation : |
Director |
|
Address : |
27 (Old No. 11), Sathyanarayana Avenue Boat Club Road, Chennai –
600028, Tamilnadu, India |
|
Date of Birth/Age : |
30.01.1957 |
|
Date of Appointment : |
16.06.2005 |
|
DIN No.: |
00054758 |
|
|
|
|
Name : |
Mr. Srivats Ram |
|
Designation : |
Director |
|
Address : |
Old No. 29, New No. 57, prithvi
Avenue, Chennai – 600 018, Tamilnadu, India |
|
Date of Birth/Age : |
20.02.1970 |
|
Date of Appointment : |
16.06.2005 |
|
DIN No.: |
00063415 |
|
|
|
KEY EXECUTIVES
|
Name : |
Mr. Balasubramanian Iyer Ganapathi Sharma |
|
Designation : |
Company Secretary |
|
Address : |
TVS Building 5, Besant Road, Chokkikulam, Madurai – 625002, Tamilnadu,
India |
|
Date of Birth/Age : |
24.08.1935 |
|
Date of Appointment : |
15.01.1986 |
|
PAN No.: |
ACKPG3871B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.10.2012
SHAREHOLDING DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
As on: 25.10.2012
|
Category |
Percentage |
|
Bodies corporate |
6.00 |
|
Directors or relatives of Directors |
88.00 |
|
Other |
6.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged primarily in the business of trading in Automobile
vehicles, spare parts, fuel and other related services. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
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|
Bankers : |
Ř
ICICI Bank Limited, landmarkrace Course Circle,
Alkapuri, baroda-390015, Gujarat, India |
||||||||||||||||||
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Facilities : |
|
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|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Sundaram and Srinivasan Chartered Accountants |
|
Address : |
111/250 P T Rajan Road, Chokkikulam, Madurai – 625 002, Tamil Nadu,
India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFS8812J |
|
|
|
|
Subsidiary company: |
·
Sundaram Industries Limited, India CIN: U65991TN1943PLC002656 ·
Southern Roadways Limited, India CIN: U60221TN1946PLC002582 ·
Sundaram Textiles Limited, India CIN: U17111TN1960PLC004340 ·
The Associated Auto Parts Limited, India CIN: U51220MH1944PLC004124 ·
Lucas TVS Limited, India CIN: U35999TN1961PLC004678 ·
Lucas Indian Service Limited, India CIN: U35999TN1930PLC005705 ·
TVS Logistics Services Limited,, CIN: U63011TN2004PLC054655 ·
TVS Interconnect Systems Limited, India CIN: U72300TN1997PLC039110 ·
TVS Automobile Solutions Limited, India CIN: U34100TN2009PLC071439 |
|
|
|
|
Fellow
Subsidiary company: |
·
TVS Dynamic Global Freight Services Limited,
India CIN: U63010TN2007PLC064282 ·
TVS Commutation Solutions Limited, India CIN: U60200TN2008PLC068631 ·
Sundaram -Clayton Limited, India CIN: L35999TN1962PLC004792 ·
TVS Motor Company Limited, India CIN: L35921TN1992PLC02845 ·
Sundaram Auto Components Limited, India CIN: U29249TN1992PLC051417 ·
TVS RHR Finished Vehicles Logistics Solutions
Limited, India CIN: U60200TN2009PLC071624 ·
TVS Logistics Iberia S L |
|
|
|
|
Associate: |
·
Sundram Fasteners Limited, India CIN: L35999TN1962PLC004943 ·
Wheels India Limited, India CIN: L35921TN1960PLC004175 ·
Brakes India Limited, India CIN: U35999TN1962PLC004928 ·
Delphi-TVS Diesel Systems Limited, India CIN: U24117TN1952PLC005704 ·
Sundaram Brake Linings Limited, India CIN: L34300TN1974PLC006703 ·
TVS Infrastructure Limited, India CIN: U45200MH2005PLC154628 ·
India Motor Parts and Accessories Limited, India CIN: L65991TN1954PLC000958 ·
TVS Srichakra Limited, India CIN: L25111TN1982PLC009414 ·
TVS Sewing Needles Limited, India CIN: U27209TN1962PLC004760 ·
Irizar TVS Limited, India CIN: U35202TN1998PLC041466 ·
TVS Lanka Private Limited ·
TVS Charities |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs. 100/-each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1144000 |
Equity Shares |
Rs. 100/-each |
Rs. 114.400 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
114.400 |
114.400 |
|
(b) Reserves & Surplus |
|
4515.825 |
4204.033 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
4630.225 |
4318.433 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
132.556 |
136.167 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
22.699 |
21.685 |
|
(d) long-term provisions |
|
40.681 |
32.660 |
|
Total Non-current Liabilities (3) |
|
195.936 |
190.512 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
2196.294 |
2206.535 |
|
(b) Trade payables |
|
3914.974 |
3532.078 |
|
(c) Other current
liabilities |
|
941.158 |
635.606 |
|
(d) Short-term provisions |
|
282.022 |
344.295 |
|
Total Current Liabilities (4) |
|
7334.448 |
6718.514 |
|
|
|
|
|
|
TOTAL |
|
12160.609 |
11227.459 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1346.082 |
1057.627 |
|
(ii) Intangible Assets |
|
14.184 |
12.322 |
|
(iii) Capital
work-in-progress |
|
54.693 |
38.461 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1523.389 |
1753.121 |
|
(c) Deferred tax assets (net) |
|
3.991 |
6.700 |
|
(d) Long-term Loan and Advances |
|
415.673 |
341.507 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
3358.012 |
3209.738 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3984.637 |
4092.082 |
|
(c) Trade receivables |
|
2547.667 |
2155.618 |
|
(d) Cash and cash
equivalents |
|
790.947 |
702.004 |
|
(e) Short-term loans and
advances |
|
1382.617 |
1023.383 |
|
(f) Other current assets |
|
96.729 |
44.634 |
|
Total Current Assets |
|
8802.597 |
8017.721 |
|
|
|
|
|
|
TOTAL |
|
12160.609 |
11227.459 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
114.400 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
3402.067 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
3516.467 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1632.610 |
|
|
2] Unsecured Loans |
|
|
631.338 |
|
|
TOTAL BORROWING |
|
|
2263.948 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5780.415 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
917.917 |
|
|
Capital work-in-progress |
|
|
11.254 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
978.060 |
|
|
DEFERRED TAX ASSETS |
|
|
6.700 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2631.736 |
|
|
Sundry Debtors |
|
|
1519.331 |
|
|
Cash & Bank Balances |
|
|
884.281 |
|
|
Other Current Assets |
|
|
51.155 |
|
|
Loans & Advances |
|
|
2282.842 |
|
Total
Current Assets |
|
|
7369.345 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1190.911 |
|
|
Other Current Liabilities |
|
|
1300.601 |
|
|
Provisions |
|
|
1011.349 |
|
Total
Current Liabilities |
|
|
3502.861 |
|
|
Net Current Assets |
|
|
3866.484 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5780.415 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
64134.853 |
57509.349 |
42477.917 |
|
|
|
Other Income |
620.521 |
451.377 |
783.266 |
|
|
|
TOTAL (A) |
64755.374 |
57960.726 |
43261.183 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of stock in trade |
58616.510 |
53715.218 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(179.241) |
(1183.854) |
|
|
|
|
Employee benefit expense |
1916.436 |
1590.560 |
|
|
|
|
Other expenses |
2478.570 |
1813.305 |
|
|
|
|
TOTAL (B) |
62832.275 |
55935.229 |
41492.366 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1923.099 |
2025.497 |
1768.817 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
516.237 |
276.691 |
202.615 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1406.862 |
1748.806 |
1566.202 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
215.006 |
158.720 |
140.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1191.856 |
1590.086 |
1425.759 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
330.925 |
204.948 |
263.595 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
860.931 |
1385.138 |
1162.164 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1111.508 |
1317.942 |
701.165 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
116.000 |
1008.400 |
116.100 |
|
|
|
Interim Dividend paid |
549.139 |
236.808 |
236.808 |
|
|
|
Interim Dividend Payable |
0.000 |
289.432 |
140.712 |
|
|
|
Tax on Dividend |
0.000 |
56.932 |
51.767 |
|
|
BALANCE CARRIED
TO THE B/S |
1307.300 |
1111.508 |
1317.942 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
27.206 |
66.126 |
|
|
|
|
Capital Goods |
6.042 |
176.400 |
|
|
|
TOTAL IMPORTS |
33.248 |
242.526 |
38.439 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
752.56 |
1210.78 |
1014.86 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.33
|
2.39 |
2.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.86
|
2.76 |
3.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.27
|
16.86 |
17.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.37 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.50
|
0.54 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.19 |
2.10 |
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 |
-- |
|
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 |
No |
|
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 |
BUSINESS REVIEW
During the year, despite
challenging business environment the Company has achieved a turnover of
Rs.62890.000 Millions, (Previous Year Rs.56710.000 Millions) showing an
increase of 11% over the previous year. The fiscal measures and monetary
policies of the Government should resuscitate the faltering growth on account
of slow down. However, the Company continues to strive on operational
improvements to enable satisfy its customers and other stakeholders.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Deposits from shareholders |
21.88 |
0.500 |
|
Public deposits |
90.676 |
95.667 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
600.000 |
500.000 |
|
|
|
|
|
Total |
712.556 |
596.167 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10386787 |
25/10/2012 |
300,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJ ARAT - 390015, INDIA |
B62163696 |
|
2 |
10334446 |
12/01/2012 |
300,000,000.00 |
DAIMLER FINANCIAL SERVICES INDIA PRIVATE
LIMITED |
UNIT 202, 2ND FLOOR,
CAMPUS 3B,RMZ MILLENNIA, BUS |
B31630494 |
|
3 |
10171751 |
01/03/2013 * |
650,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B71368096 |
|
4 |
10169516 |
30/06/2009 |
15,000,000.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS
ROAD, CHENNAI, TAMIL NADU - 600002, IN |
A66720590 |
|
5 |
10170920 |
30/06/2009 |
265,000,000.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS
ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A66723206 |
|
6 |
80017962 |
01/03/2013 * |
4,270,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
6A WEST VELI STREET, MADURAI, TAMIL NADU - 625001, INDIA |
B71325484 |
|
7 |
80013767 |
01/03/2013 * |
200,000,000.00 |
STATE BANK OF MYSORE |
41 WHITES ROAD,
ROYAPETTAH, CHENNAI, TAMIL NADU - 600014, INDIA |
B71423008 |
|
8 |
80017961 |
01/03/2013 * |
80,000,000.00 |
STATE BANK OF TRAVANCORE |
CHENNAI MAIN
BRANCH, UNITED INDIA BUILDING ESPLANADE, CHENNAI, TAMIL NADU - 600108, INDIA |
B71158208 |
* Date of charge modification
FIXED ASSETS:-
Tangible Assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Aircrafts helicopters
·
Computer equipments
Intangible assets
·
Computer software
·
Patents
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.06 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
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 |
|
65 |
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.