MIRA INFORM REPORT
|
Report Date : |
11.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
DRIVE INDIA ENTERPRISE SOLUTIONS LIMITED (w.e.f. 30.03.2007) |
|
|
|
|
Formerly Known
As : |
DRIVEINDIACOM LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Kamla Executive Park, Andheri (East), Mumbai -
400059, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.04.2000 |
|
|
|
|
Com. Reg. No.: |
11-126195 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.51.204 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900MH2000PLC126195 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD12064D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD5823E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
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|
|
|
|
No. of Employees
: |
Information declined by management |
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 2400000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a Tata Group Company. The company is owned by Tata International Limited (50%) and Tata
Industries Limited (50%). It is an established company having satisfactory
track. The company has incurred a huge loss during 2012. External borrowings
appear to be huge and are increasing over previous year. Which may affect the
liquidity position. Ratings also take into consideration the strong financial and
management support from subjects group company i.e Tata Group. Trade relations are fair. Business is active. Payment terms are reported
as usually correct. In view of experienced promoters, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
20 April 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A1 |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
20 April 2012 |
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Vishal Shah |
|
Designation : |
Legal Department |
|
Contact No.: |
91-22-67779000 |
|
Date : |
11.07.2013 |
LOCATIONS
|
Registered/ Corporate Office : |
7th Floor, Kamla Executive Park, Andheri (East),
Mumbai–400059, Maharashtra, India |
|
Tel. No.: |
91-22-67779000 |
|
Fax No.: |
91-22-67779001/ 9002 |
|
E-Mail : |
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|
Website : |
|
|
|
|
|
Regional Office: |
Located at
|
DIRECTORS
As on 29.08.2012
|
Name : |
Mr. Rameshwar Singh Thakur |
|
Designation : |
Additional 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 : |
30.09.2010 |
|
DIN No.: |
00020126 |
|
|
|
|
Name : |
Mr. Noel Naval Tata |
|
Designation : |
Additional Director |
|
Address : |
Windmere Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1956 |
|
Date of Appointment : |
01.11.2010 |
|
DIN No.: |
00024713 |
|
|
|
|
Name : |
Mr. Ajay Murlidhar Ponkshe |
|
Designation : |
Director |
|
Address : |
Flat No.3 1st Floor, Yashodhan, Sahayog Mandir Path,
Naupada Thane – 400 601, |
|
Date of Birth/Age : |
27.02.1960 |
|
Date of Appointment : |
16.07.2007 |
|
DIN No.: |
01663073 |
|
|
|
|
Name : |
Mr. Kanwar Rameshwar Singh Jamwal |
|
Designation : |
Additional Director |
|
Address : |
73-A, Maker Towers, Chsl, Cuffe Parade, Mumbai-400005, Maharashtra,
India |
|
Date of Birth/Age : |
11.10.1965 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
03129908 |
KEY EXECUTIVES
|
Name : |
Mr. M G Subramaniam |
|
Designation : |
Secretary |
|
Date of Birth/Age : |
03.05.1959 |
|
Date of Appointment : |
18.01.2012 |
|
PAN No.: |
ACLPM6816F |
|
|
|
|
Name : |
Mr. Vishal Shah |
|
Designation : |
Legal Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Tata Industries Limited, |
|
10 |
|
Tata Industries Limited, India Jointly With K K Bhatt |
|
10 |
|
Tata Industries Limited, India Jointly With Dhirendrasingh Kushwah |
|
10 |
|
Tata Industries Limited, |
|
10 |
|
Tata Industries Limited, India Jointly With Deepika Bhagwagar |
|
10 |
|
Tata Industries Limited, India |
|
350 |
|
Tata International Limited, |
|
400000 |
|
Tata Industries Limited, India |
|
400000 |
|
Tata International Limited, India |
|
26700 |
|
Grazeilla Shoes Limited, India |
|
1 |
|
Tata Industries Limited, India |
|
26299 |
|
Tata Industries Limited, |
|
50 |
|
Tata Industries Limited, India Jointly With K K Bhatt |
|
50 |
|
Tata Industries Limited, India Jointly With Dhirendrasingh Kushwah |
|
50 |
|
Tata Industries Limited, |
|
50 |
|
Tata Industries Limited, India Jointly With Deepika Bhagwagar |
|
50 |
|
Tata Industries Limited, India |
|
2133245 |
|
Tata International Limited, |
|
2133500 |
|
Grazeilla Shoes Limited, India |
|
5 |
|
|
|
|
|
Total |
|
5120400 |
Equity Share Break up (Percentage of Total Equity)
As on 29.08.2012
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||
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||||||||||||
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Bankers : |
IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai –
400005, Maharashtra, India |
||||||||||||
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||||||||||||
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Facilities : |
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Banking
Relations : |
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|
|
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
1-8-384 and 385, 3rd Floor, |
|
Tel. No.: |
91-40-40312600 |
|
Fax No.: |
91-40-40312714 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
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|
|
|
Holding company: |
CIN: U51900MH1962PLC012528 |
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|
|
|
Ultimate Holding company: |
CIN: U99999MH1917PLC000478 |
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|
|
|
Associate: |
CIN: U44003MH1945PLC004403 |
|
|
|
|
Fellow Subsidiary company: |
CIN: U31900MH2005PLC158120
CIN: L22210MH1995PLC084781
CIN: U92120MH2001PLC130365
CIN: U74899DL1995PLC066685
CIN: L64200MH1995PLC086354
CIN: U11100MH1993PLC134095
CIN: U34100MH1995PLC093733
CIN: U85110MH2000PLC128425
CIN: U72200DL2004PLC228400
CIN: U85110KA1989PLC013224
CIN: U29268AP2010PLC077940
CIN: U51102TN1996PLC034121 |
|
|
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5120400 |
Equity Shares |
Rs.10/- each |
Rs. 51.204
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 |
|
51.204 |
8.534 |
|
(b) Reserves & Surplus |
|
543.322 |
697.354 |
|
(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) |
|
594.526 |
705.888 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
5.960 |
|
(c) Other long term
liabilities |
|
2.474 |
3.261 |
|
(d) long-term
provisions |
|
24.446 |
19.127 |
|
Total Non-current
Liabilities (3) |
|
26.920 |
28.348 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
3329.715 |
1477.653 |
|
(b) Trade
payables |
|
2445.630 |
2345.655 |
|
(c) Other
current liabilities |
|
365.601 |
257.968 |
|
(d) Short-term
provisions |
|
5.935 |
44.739 |
|
Total Current
Liabilities (4) |
|
6146.881 |
4126.015 |
|
|
|
|
|
|
TOTAL |
|
6768.327 |
4860.251 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
469.748 |
451.632 |
|
(ii)
Intangible Assets |
|
83.728 |
57.202 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
24.709 |
70.609 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
22.090 |
0.000 |
|
(d) Long-term Loan and Advances |
|
312.519 |
300.538 |
|
(e) Other
Non-current assets |
|
0.031 |
0.049 |
|
Total Non-Current
Assets |
|
912.825 |
880.030 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
2076.099 |
1998.249 |
|
(c) Trade
receivables |
|
1674.431 |
1378.835 |
|
(d) Cash
and cash equivalents |
|
950.926 |
289.662 |
|
(e)
Short-term loans and advances |
|
260.332 |
278.387 |
|
(f) Other
current assets |
|
893.714 |
35.088 |
|
Total
Current Assets |
|
5855.502 |
3980.221 |
|
|
|
|
|
|
TOTAL |
|
6768.327 |
4860.251 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
8.534 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
621.720 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
630.254 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
1984.215 |
|
|
TOTAL BORROWING |
|
|
1984.215 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2614.469 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
451.358 |
|
|
Capital work-in-progress |
|
|
77.525 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
40.744 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2044.759
|
|
|
Sundry Debtors |
|
|
1191.944
|
|
|
Cash & Bank Balances |
|
|
540.452
|
|
|
Other Current Assets |
|
|
0.139
|
|
|
Loans & Advances |
|
|
532.635
|
|
Total
Current Assets |
|
|
4309.929 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1868.474
|
|
|
Other Current Liabilities |
|
|
359.548
|
|
|
Provisions |
|
|
37.065
|
|
Total
Current Liabilities |
|
|
2265.087 |
|
|
Net Current Assets |
|
|
2044.842
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2614.469 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13318.222 |
10447.891 |
13170.343 |
|
|
|
Other Income |
60.705 |
123.615 |
139.955 |
|
|
|
TOTAL (A) |
13378.927 |
10571.506 |
13310.298 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
9852.631 |
7146.614 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(77.850) |
46.510 |
|
|
|
|
Employee benefit expense |
393.046 |
331.891 |
|
|
|
|
Other expenses |
3089.484 |
2660.233 |
|
|
|
|
TOTAL (B) |
13257.311 |
10185.248 |
13175.375 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
121.616 |
386.258 |
134.923 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
123.981 |
96.370 |
(412.019) |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(2.365) |
289.888 |
546.942 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
111.310 |
73.205 |
60.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(113.675) |
216.683 |
486.364 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.313) |
332.982 |
173.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(111.362) |
(116.299) |
312.889 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
654.400 |
590.400 |
328.700 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve and Dividend
(Including Tax) |
0.000 |
52.300 |
51.200 |
|
|
BALANCE CARRIED
TO THE B/S |
543.000 |
654.400 |
590.400 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service income |
61.100 |
45.600 |
0.300 |
|
|
TOTAL EARNINGS |
61.100 |
45.600 |
0.300 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
4.563 |
0.338 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
NA |
5813.645 |
7494.955 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(21.75) |
22.71 |
366.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.83)
|
(1.10) |
2.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.85)
|
2.07 |
3.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.69)
|
4.52 |
11.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.19)
|
0.31 |
0.77 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.60
|
2.09 |
3.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
0.96 |
1.90 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
2445.630 |
2345.655 |
1868.474
|
|
|
|
|
|
|
Total |
2445.630 |
2345.655 |
1868.474
|
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
NOTE
Registered office has been shifted from G-1 and 2, New Udyog Mandir 2,
Mogul Lane, Mahim (West), Mumbai, Maharashtra, India to the present address
w.e.f. 01.02.2009
OPERATING RESULTS
AND BUSINESS:
The Company has achieved an overall turnover of Rs.13378.900 Millions (Rs.10571.500 Millions during 2010-11). This was an increase of 26.55% as compared to last year. The turnover of 2011-12 has 2 major components trading goods Rs.10290.600 Millions (previous year Rs.7872.600 Millions) and Provision of Services - Rs.3011.500 Millions (previous year Rs. 2575.300 Millions).
The trading of goods as compared to last year went up by 31%, due t higher volumes in mobile handset sales. The Company has worked to grow the trading of goods in areas such as telecommunication equipments, GSM handsets etc.
The Service Business portfolio (Warehousing, Distribution and Value added services), as compared to last year went up by 17%, where the Company provides services to several leading companies including L and T, Nokia Siemens, Sony, Godrej, ITC, Colgate Palmolive, Wipro, Ballarpur Industries etc., and others including Tata Teleservices, Tata Chemicals, Voltas, Infiniti Retail (Croma), Tata Sky, Rallis, Tata Steel and Tata Communications Banking.
FUTURE OUTLOOK:
As per the study carried out by Tata Strategic Management Group (TSMG) in December 2011, the logistics market is estimated to be around Rs.4243500.000 Millions in 2011. It is expected to grow at 15% p.a. to reach around Rs.7390000.000 Millions in 2015, primarily driven by key growth drivers such as robust GDP and industrial growth, growing exports, increasing infrastructural investments, reforms in government policies, Growing demand from end-user industries and increased demand for value added logistics services.
As per TSMG study mentioned above, the Transportation is the largest segment of logistics market with 62% share followed by warehousing (26%), freight forwarding (8%) and Value Added Services (VAS) (4%). The transportation market size is estimated to be Rs.2530000.000 Millions in 2011 and expected to grow at 10% p.a. Development of warehousing zones and logistics parks expected to drive growth of warehouse segment which is currently estimated around 1081000.000 Millions in 2011 and growing at the rate of 15% p.a. Freight forwarding segment is expected to grow significantly from Rs. 379900.000 Millions in 2011 to Rs. 1110000.000 Millions in 2015 at CAGR of 31% p.a. due to double digit growth in manufacturing sector and exports. Whereas value-added services (VAS) market still nascent, holds a significant growth potential, expected to be the fastest growing segment in future.
DIESL is a leading provider of integrated logistics solutions and a multi-location organization engaged in trading and third party logistics services. It carries out trading for telecom products and are one of the largest importers of telecom products and accessories in India. In services, they provide end-to-end strategic, innovative and customized supply chain solutions for customers specific business needs. This segment, being their focus, is critically important to us.
Their warehousing solutions feature over 181 operational warehouses across 56 cities covering 6.15 Million sq. ft. of warehousing space. Their Distribution arm - ‘Connect’ serves over 4000 towns and has a built-in capacity to serve more than 7000 towns. DIESL also provides third party logistics services to wide range of sectors.
They offer gamut of services which includes Warehousing, Distribution, International Logistics Services (ILS) and Value Added Services (VAS). Their extensive warehousing and distribution capabilities enable us to meet customer’s precise supply chain goals and requirements.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
3329.706 |
1477.653 |
|
|
|
|
|
Total |
3329.706 |
1477.653 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Claims against company not acknowledged as
debt |
579.734 |
|
Guarantees |
22.006 |
FIXED ASSETS
Tangible assets
- Buildings
- Plant and
equipment
- Furniture and
fixtures
- Vehicles
- Office
equipment
- Computer
equipments
- Other
equipments
Intangible assets
- Computer
software
PRESS RELEASES
DRIVE INDIA ENTERPRISE SOLUTIONS WINS TOP HONOURS AT 5TH EXPRESS,
LOGISTICS AND SUPPLY CHAIN AWARDS - SEPTEMBER 21, 2011
Tata’s logistics arm wins best ‘3PL of the Year Award’; CEO Ajay Chopra bags the 'Face of the Year Award'
Drive India Enterprise Solutions (Diesl), logistics arm of the Tata group, has won top honours at the 5th Express, Logistics and Supply Chain Awards (ELSC Awards) held in Mumbai on September 22, 2011. The company won the best ‘3PL of the Year Award’. Ajay Chopra, CEO, Diesl, also received the ’Face of the Year Award’ at the prestigious event. Mr Chopra received the award for his immense contribution as a spokesperson for the industry and his remarkable efforts in the field Indian logistics industry through the IILF (India International Logistics Forum) and ideating and executing the very popular, ‘Captains Of Logistics’ series of multi-city events, which are held by Diesl every year across India.
The ELSC Awards were given out during the ELSC Conclave held in Mumbai at Taj
Lands End Hotel on September 21, 2011. The ELSC conclave, now in its fifth
year, recognises and showcases logistic companies and supply-chain led businesses
that have set new benchmarks in the delivery of logistics solutions.
The winners of the awards are selected by a panel of
industry leaders and the eminent members of the advisory council of ELSC. The
5th ELSC Awards are endorsed by The
Economic Times along with Business India Group.
Speaking on the occasion, Mr Chopra said, "We are pleased to receive the
awards. The recognitions reinforce our abilities to deliver world-class
services with a client-focussed approach, through our extensive network and
deep penetration across the country powered by a huge investment in technology.
I accept the award on behalf of 4,000-plus Dieslites who have
transformed Diesl into a leading logistics firm in a short span.” This award
was won amidst stiff competition from leading logistics companies in India.
This achievement is recognition of Diesl’s efforts towards seamless integrated
logistics solutions.
DIESL IN COLLABORATION WITH FICCI UNVEILS THE LATEST BUSINESS STRATEGY
FOR LOGISTICS OUTSOURCING
AUGUST 31, 2012
Coimbatore, India: Drive India Enterprise Solutions (DIESL), a Tata group company, and the Federation of Indian Chambers of Commerce and Industry (FICCI) organised an inaugural round-table conference in Coimbatore on August 31, 2012. The conference was part of ‘Captains of Logistics’, a series of multi-city round-table conferences attended by thought leaders of the industry from various regions, who will contemplate on the challenges in the logistics arena. The round-table conference was presided over by N Rajagopalan, director, Trigger Apparels, along with a panel which includes Venkateshwaran Krishnan from Oracle; Milind Shahane, CEO, DIESL; Hitesh Athawasya, zonal business head, DIESL; and Shantha Kumar, CEO, eClouds. The series that started off at Coimbatore, will travel to other fast-growing cities like Chandigarh, Lucknow, Pune and Bhubaneshwar.
The highlight of the conference was the discussion on the dilemma in outsourcing logistics. Milind Shahane brought to light various levels of logistics outsourcing and permutations of the partnership between enterprises and LSPs. Through pertinent case studies and success stories, Mr Athawasya shared how companies were able to add to their bottom line and value chain by partnering with supply chain professionals. The case studies showed how LSPs pass on the benefits (of lower cost) of multimodal transportation, shared facilities, FTL in distribution, etc to their customers, thus providing a truly optimised supply chain. Mr Kumar pointed out the real challenges faced by manufacturers in handling the logistics of their products, including archaic octroi procedures, laws, taxes, infrastructure delays, cost escalations in managing timely deliveries, etc, and urged the panel to provide practical answers to these issues.
The enthusiastic participation by delegates in the discussion brought to fore the problems plaguing the industry. Delegates quizzed the panelists on optimising transportation time to meet strict deadlines in the face of lengthy intra-border toll procedures, packaging solutions, preventing damage of goods and pilferage. Delegates also wanted to know how enterprise-LSP partnerships can be framed so that they get assured and expected service levels. Mr Rajagoplan, who has 25 years of hardcore strategic and management experience in FMCG and lifestyle products, shared his experience with all present. He made a case for openness and transparency among logistics service users and providers; a collaborative approach which can lead to better profits and solutions through shared best practices - a point that was reiterated by Mr Krishnan.
The conference was attended by the supply chain and logistics heads of various manufacturing companies based at Coimbatore like ELGI Equipments, ZF Wind Power Coimbatore, QPLUS Technologies, Om Murugan Industries, Moksha Foods and Beverages, Amma Alloy (India), Pioneer Welding Equipments, Pricol Cargo, G Plast, Pricol, Cheenu Amma Alloy, Arcus Enterprises and many more.
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.60.13 |
|
|
1 |
Rs.89.52 |
|
Euro |
1 |
Rs.79.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
5 |
|
--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 |
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 |
|
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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.