MIRA
INFORM REPORT
|
Report Date : |
19.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
TATA AUTOCOMP SYSTEMS LIMITED |
|
|
|
|
Formerly Known
As : |
TATA AUTOCOMP SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Bombay House, 24,
Homi Mody Street, Fort, Mumbai – 400001, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.10.1995 |
|
|
|
|
Com. Reg. No.: |
11-093733 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2547.814
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34100MH1995PLC093733 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT1848E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Vehicle Parts and Components to the
Automotive Sector. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Tata Group, a highly reputed industrial house. It is a well established and reputed company having fine track record.
The company is progressing well. It has been successful in wiping-off its
accumulated losses of the previous year. Directors are reported to be
experienced and respectable industrialist. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitments. 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
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 |
CRISIL |
|
Rating |
Long Term Rating: AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
28.03.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A1+ |
|
Rating Explanation |
Very Strong degree of safety and lowest
credit risk. |
|
Date |
28.03.2013 |
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 : |
Bombay House, 24,
Homi Mody Street, Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22049131/
66658282/ 66657352 |
|
Fax No.: |
91-22-22845523/
66658160 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
3000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate
Office : |
Taco House, Damle
Path, Off Law College Road, Pune – 411004, Maharashtra, India |
|
Tel. No.: |
91-20-66085000 |
|
Fax No.: |
91-20-25438499/
66085034/ 66085102 |
|
E-Mail : |
|
|
|
|
|
Corporate Office 2: |
Taco Technical Centre, Rajiv
Gandhi IT Park, Hinjewadi, Phase 2, S No 280 and 281, Pune – 411057, Maharashtra,
India |
|
|
|
|
Factory 1 : |
Muttha Chambers,
3rd Floor, Senapati Bapat Road, Pune – 411016, Maharashtra, India |
|
Tel. No.: |
91-20-25672782 /
25660691 |
|
Fax No.: |
91-20-25660699 |
|
|
|
|
Factory 2 : |
Plot 28, Bidadi Industrial
Area, Ramnagar, Bangalore – 562109, Karnataka, India |
|
|
|
|
Overseas
Office : |
35488 Crescent Court, |
|
Tel. No.: |
1-248-4744607 |
|
Fax No.: |
1-248-4744668 |
|
|
|
|
Branches : |
Located at:- ·
·
Vadodara,
·
Mumbai,
·
Pune,
·
·
·
Chennai,
Tamilnadu |
DIRECTORS
(AS ON 26.06.2012)
|
Name : |
Mr. Ramabadran Gopalkrishnan |
|
Designation : |
Director |
|
Address : |
Baug – E, Abbas Flat No. 101, Captain Prakash Peth Marg, 21/A, Cuffe
Parade, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1945 |
|
Date of Appointment : |
27.06.2001 |
|
DIN No.: |
00027858 |
|
|
|
|
Name : |
Mr. Kishor Anant Chaukar |
|
Designation : |
Director |
|
Address : |
143-B, NCPA Apartments, 7th Floor, Dorbabji Tata Road,
Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Date of Birth/Age : |
01.08.1947 |
|
Date of Appointment : |
30.03.1999 |
|
DIN No.: |
00033830 |
|
|
|
|
Name : |
Mr. Rajendra Ramdas Bhinge |
|
Designation : |
Director |
|
Address : |
Flat No.3051, Tower 2 Planet Godrej, Keshav Rao Khadye Road, Mahalaxmi
Road, Mumbai – 400011, Maharashtra, India |
|
Date of Birth/Age : |
29.05.1952 |
|
Date of Appointment : |
30.07.2004 |
|
DIN No.: |
00036557 |
|
|
|
|
Name : |
Mr. Satish Bhaskar Pradhan |
|
Designation : |
Director |
|
Address : |
173 NCPA Apartments 17 Floor, Apsara CHS, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Date of Birth/Age : |
04.01.1955 |
|
Date of Appointment : |
03.05.2002 |
|
DIN No.: |
00175969 |
|
|
|
|
Name : |
Mr. Rameshwar Singh Thakur |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 205, |
|
Date of Birth/Age : |
06.09.1948 |
|
Date of Appointment : |
28.12.2007 |
|
Other Directorship: |
Tata Motors Limited |
|
DIN No.: |
00020126 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Praveen Purushottam Kadle |
|
Designation : |
Director |
|
Address : |
224, NCPA, Apartments, Nariman Point, Mumbai- 400021, |
|
Date of Birth/Age : |
21.01.1957 |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
00016814 |
|
|
|
|
Name : |
Mr. Naushad Forbes |
|
Designation : |
Additional Director |
|
Address : |
74, Koeegaon Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
13.05.1960 |
|
Date of Appointment : |
16.12.2010 |
|
DIN No.: |
00630825 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Rakesh Ratish Mohan |
|
Designation : |
Additional Director |
|
Address : |
E-57, Panch Shila Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
14.01.1948 |
|
Date of Appointment : |
16.12.2010 |
|
DIN No.: |
02790744 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Lakshman Lakshminarayan |
|
Designation : |
Additional Director |
|
Address : |
17, Crescent Street, Arch Bishop Mathias Avenue, Abhiramapuram,
Chennai – 600028, Tamilnadu, India |
|
Date of Birth/Age : |
17.07.1946 |
|
Date of Appointment : |
09.12.2010 |
|
DIN No.: |
00012554 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Ramesh Amrut Savoor |
|
Designation : |
Additional Director |
|
Address : |
No.201, Pine View, 9 Edward Road, Bangalore – 560052, Karnataka, India
|
|
Date of Birth/Age : |
24.04.1944 |
|
Date of Appointment : |
09.12.2010 |
|
DIN No.: |
00149089 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Hari Lakshminarayan Mundra |
|
Designation : |
Additional Director |
|
Address : |
A-61, Twin Towers, Off Veer Savarkar Marg, Prabhadevi, Mumbai –
400025, Maharashtra, India |
|
Date of Birth/Age : |
26.10.1949 |
|
Date of Appointment : |
09.12.2010 |
|
DIN No.: |
00287029 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Ram Nath Mukhija |
|
Designation : |
Additional Director |
|
Address : |
Varsha, Flat No.501, Janki Kutir, Juhu, Mumbai – 400049, Maharashtra,
India |
|
Date of Birth/Age : |
05.02.1944 |
|
Date of Appointment : |
09.12.2010 |
|
DIN No.: |
00001653 |
|
Email : |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Suresh Nagale |
|
Designation : |
Company Secretary |
|
Address : |
18/204, Nilgiri Sidhanchal Phase- 3, Near |
|
Date of Birth/Age : |
26.07.1966 |
|
Date of Appointment : |
10.07.2008 |
|
PAN No.: |
AAAPN8667N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 26.06.2012)
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
|
|
|
|
Tata Industries
Limited, |
|
69244903 |
|
Tata Motors Limited, |
|
52333170 |
|
Tata Capital Limited, |
|
48307333 |
|
Tata Sons Limited, |
|
28675598 |
|
Tata Investment Corporation Limited
|
|
2720054 |
|
Tata Industries
Limited, |
|
150 |
|
Tata Industries
Limited, |
|
50 |
|
Tata Industries
Limited, |
|
50 |
|
Dilip S. Pendse |
|
50 |
|
|
|
|
|
Total |
|
201281358 |
(AS ON 26.06.2012)
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Tata Motors Limited, India |
|
21000000 |
|
Tata Investment Corporation Limited, |
|
15000000 |
|
Rajuvalika Investments Limited, |
|
7000000 |
|
Tata Consultancy Services Limited |
|
5000000 |
|
Ratan Naval Tata Jointly with Naval
H Tata |
|
3000000 |
|
N A Soonaala |
|
2000000 |
|
Tata Simone Naval Jointly with Naval H
Tata |
|
500000 |
|
|
|
|
|
Total |
|
53500000 |
(AS ON 26.06.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies
corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Vehicle Parts and Components to the
Automotive Sector. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
|
|
|
|
|
Plastic Parts for Motor Vehicles |
Qty Nos |
27264774 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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|
Bankers : |
· DBS Bank Limited Elbee House, Siddharth Path, Off Dhole Patil Road, Pune – 411001, Maharashtra, India · Corporation Bank No.14, Mumbai-Pune Road, Wakdewadi, Pune – 411003, Maharashtra, India |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
|
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|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
Muttha Towers, 5th
Floor, Suite No.8, Off Airport Road, Yerwada, Pune 411006, Maharashtra, India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Promoter
Group Companies
: |
·
Tata Industries Limited ·
Tata Motors Limited ·
Tata Capital Limited ·
Tata Sons Limited (Ultimate
holding company from September 1 2010) |
|
|
|
|
Subsidiaries |
· Tata Toyo Radiator Limited · Taco Composites Limited (Formerly known as Automotive Composite Systems International Limited) · Taco Sasken Automotive Electronics Limited (Under Liquidation) · Tata Autocomp Mobility Telematics Limited (Upto December 8 2010) · Taco Holdings Mauritius Limited · Taco Kunststofftechnik GmbH * · Taco Grundstuckverwaltungs GmbH # · Nanjing Tata Autocomp Systems Limited · Automotive Stampings and Assemblies Limited (from December 10 2010) · Taco engineering (UK) Limited (from January 17, 2012) |
|
|
|
|
Fellow Subsidiaries (with whom transactions have taken place during
the year): |
· Tata AIG General Insurance Company Limited · e-Nxt Financials Limited · Tata Teleservices Limited · Tata Teleservices (Maharashtra) Limited · Tata Consultancy Services Limited · Infiniti Retail Limited · Computational Research Laboratories Limited · Tata Investment Corporation Limited ·
Tata Sky Limited ·
TCS Serve Limited (Formerly Known as Citigroup
Global Services Limited) |
|
|
|
|
Joint
Ventures |
· Tata Johnson Controls Automotive Limited · Tata Ficosa Automotive Systems Limited · Tata Yazaki Autocomp Limited · Tata Autocomp GY Batteries Limited · Tata Nifco Fasteners Limited · Taco Hendrickson Suspensions Private Limited · Automotive Stampings and Assemblies Limited (Upto December 9 2010) |
CAPITAL STRUCTURE
(AS ON 26.06.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
410000000 |
Equity Shares |
Rs.10/- each |
Rs.4100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
201281358 |
Equity Shares |
Rs.10/- each |
Rs.2012.814
Millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
210000000 |
Equity Shares |
Rs.10/- each |
Rs.3000.000 Millions |
|
70000000 |
Preference Shares
|
Rs.10/- each |
Rs.700.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.3700.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
201281400 |
Equity Shares |
Rs.10/- each |
Rs.2012.814
Millions |
|
53500000 |
Preference Shares |
Rs.10/- each |
Rs.535.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2547.814 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 |
|
2547.814 |
2547.814 |
|
(b) Reserves & Surplus |
|
1191.735 |
93.018 |
|
(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) |
|
3739.549 |
2640.832 |
|
|
|
|
|
|
(3)
Minority Interests |
|
733.532 |
587.907 |
|
|
|
|
|
|
(4) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2405.184 |
3042.594 |
|
(b) Deferred tax liabilities (Net) |
|
154.573 |
139.630 |
|
(c) Other long
term liabilities |
|
24.778 |
58.197 |
|
(d) long-term
provisions |
|
170.552 |
138.130 |
|
Total Non-current
Liabilities (3) |
|
2755.087 |
3378.551 |
|
|
|
|
|
|
(5) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1743.439 |
2031.581 |
|
(b)
Trade payables |
|
4931.980 |
4388.930 |
|
(c)
Other current liabilities |
|
2483.404 |
2014.355 |
|
(d) Short-term provisions |
|
561.915 |
257.288 |
|
Total Current
Liabilities (4) |
|
9720.738 |
8692.154 |
|
|
|
|
|
|
TOTAL |
|
16948.906 |
15299.444 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
6632.492 |
5891.603 |
|
(ii)
Intangible Assets |
|
761.109 |
779.061 |
|
(iii)
Capital work-in-progress |
|
529.844 |
367.841 |
|
(iv)
Intangible assets under development |
|
6.321 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
12.500 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
851.554 |
651.491 |
|
(e) Other
Non-current assets |
|
18.977 |
28.279 |
|
Total Non-Current
Assets |
|
8800.297 |
7730.775 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
619.550 |
864.292 |
|
(b)
Inventories |
|
2715.824 |
2456.749 |
|
(c)
Trade receivables |
|
2936.556 |
2666.642 |
|
(d) Cash
and cash equivalents |
|
623.244 |
495.873 |
|
(e)
Short-term loans and advances |
|
1109.747 |
900.541 |
|
(f)
Other current assets |
|
143.688 |
184.572 |
|
Total
Current Assets |
|
8148.609 |
7568.669 |
|
|
|
|
|
|
TOTAL |
|
16948.906 |
15299.444 |
|
SOURCES OF FUNDS |
|
|
31.03p.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2547.814 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(609.150) |
|
|
NETWORTH |
|
|
1938.664 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2272.635 |
|
|
2] Unsecured Loans |
|
|
1588.300 |
|
|
TOTAL BORROWING |
|
|
3860.935 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5799.599 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1952.286 |
|
|
Capital work-in-progress |
|
|
134.053 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
3417.816 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
444.878
|
|
|
Sundry Debtors |
|
|
1266.259
|
|
|
Cash & Bank Balances |
|
|
247.533
|
|
|
Other Current Assets |
|
|
2.816
|
|
|
Loans & Advances |
|
|
710.378
|
|
Total
Current Assets |
|
|
2671.864
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
1843.925
|
|
|
Other Current Liabilities |
|
|
381.036
|
|
|
Provisions |
|
|
151.459
|
|
Total
Current Liabilities |
|
|
2376.420
|
|
|
Net Current Assets |
|
|
295.444
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5799.599 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9855.826 |
9908.316 |
9475.586 |
|
|
|
Other Income |
81.106 |
72.156 |
479.559 |
|
|
|
TOTAL (A) |
9936.932 |
9980.472 |
9955.145 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost Material Consumed |
4956.393 |
5400.450 |
|
|
|
|
Purchases of Stock In Trade |
1369.554 |
1117.659 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(38.527) |
66.642 |
8729.183 |
|
|
|
Employee benefit expense |
855.436 |
816.304 |
|
|
|
|
Other expenses |
1168.111 |
1271.280 |
|
|
|
|
TOTAL (B) |
8310.967 |
8672.335 |
8729.186 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1625.965 |
1308.137 |
1225.959 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
395.854 |
390.612 |
471.061 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1230.111 |
917.525 |
754.898 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
355.068 |
376.525 |
331.616 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
875.043 |
541.000 |
423.282 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.636 |
0.000 |
5.529 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
872.407 |
541.000 |
417.753 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
NA |
1347.851 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.42 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.78
|
5.42
|
4.20
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.81
|
5.46
|
4.47
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.33
|
3.63
|
9.15
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.20
|
0.22
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.11
|
1.92
|
1.99
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84
|
0.87
|
1.12
|
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 |
Yes |
|
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 |
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 |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Debentures |
1000.000 |
1000.000 |
|
Loans and Advances from Related Party |
350.000 |
350.000 |
|
Inter Corporate Deposits from Related Parties |
238.300 |
488.300 |
|
Inter Corporate Deposits from others |
0.000 |
100.000 |
|
Loans repayable on demand from Banks |
214.239 |
163.141 |
|
|
|
|
|
Total |
1802.539 |
2101.441 |
STANDALONE FINANCIAL PERFORMANCE
During the year the
Company earned a total income of Rs. 9936.900 Millions for the year ended March
31, 2012 as against Rs. 9980.500 Millions for the previous year ended March 31,
2011. The net profit for the year has been Rs.872.400 Millions as against
Rs.541.000 Millions during the previous financial year, indicating a growth of
61.26 %.
SUBSIDIARY
COMPANIES
Taco Composites Limited
At an Extra
Ordinary General Meeting of the Company held on December 20, 2011, the Members had
approved amalgamation of TACO Composites Limited, a wholly owned subsidiary of
the Company; with the Company with effect from April 1, 2011 (the Appointed
Date). Further, the regulatory process of amalgamation is currently way and
shall be completed upon finally receiving the court order from the Honble
Bombay High Court.
Taco Engineering (UK) Limited:
The Company
incorporated a 100% subsidiary in United Kingdom (UK) on January 17, 2012 with
the name and style Taco Engineering (UK) Limited. The subsidiary was
incorporated to capture potential business opportunities for Engineering
Division (TTC) of the company.
FORM 8
|
Corporate
identity number of the company |
U34100MH1995PLC093733 |
|
Name of the
company |
TATA AUTOCOMP
SYSTEMS LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property
(Not being pledge) Others: Plant and
Machinery (fixed and Movable) |
|
Particular of
charge holder |
DBS Bank Limited Elbee House, Siddharth Path, Off Dhole Patil Road, Pune – 411001,
Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
23/02/2012 |
|
Amount secured by
the charge |
Rs.111.039
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest LIBOR + 1.2% per
annum. Terms of
repayment As stipulated in
the Margin FACR of one times
to be maintained at all the times. Extent and
Operation of the charge Exclusive Charge
on Entire movable Fixed assets financed by DBS Bank Limited |
|
Short particulars
of the property charged |
Exclusive charge
on Plant and Machinery (Fixed and moveable), machinery spares, tools and
accessories both present and future lying or stored in the borrowers
factories, premises and godowns. |
FIXED ASSETS:
·
Freehold Land
·
Buildings
·
Plant and Machinery
·
Work Station/ office
Equipments
·
Furniture, Fittings and
Other Equipments
·
Vehicles
·
Vehicles on Finance
Lease
·
Computer and Peripherals
on financial lease
·
Specialised software
·
Engineering and
Development Cost
PRESS RELEASES
TATA AUTOCOMP
INAUGURATES BUSINESS LEADERS’ DEVELOPMENT CENTRE
- To invest in growing the human capital of the organization –
19 March 2012
Pune, March 19th, 2012: Tata AutoComp Systems Limited (Tata AutoComp) Pune
inaugurated its new Business Leaders’ Development Centre today. Located at
Banner in Pune, the new Development Centre will aim at enhancing the
capabilities of its employees across all levels.
Speaking on the occasion, Mr. R S Thakur, MD and CEO of Tata AutoComp Systems
Limited said, “Tata AutoComp has always followed a practice of building and
nurturing internal talent. We lay great emphasis on training to build the competencies
of our people and thereby enhance the knowledge quotient of our company.”
The Business Leaders’ Development Centre is equipped with state-of-the-art
classrooms and a well furnished library. Tata AutoComp has recently tied-up
with various educational institutes to run specialized courses for its
employees. Some of these include BE degree for Diploma holders in partnership
with BITS-Pilani as well as MBA program with Symbiosis University, Pune.
Explaining the relevance of training in the Auto-component industry, Mr.
Gajendra Chandel, President and Group HR Head elaborated, “Continuing
professional education and building managerial competence plays a vital role in
not only enhancing the knowledge quotient of our organization, but also in
improving employee motivation. In the auto-component business, the pressures of
day to day work are so high that one seldom gets the opportunity to grow
oneself. In the past we have been conducting quite a few training workshops for
our junior and middle level management colleagues. Thru’ this centre, we are
now creating a facility that will impart regular training across the board to
all our colleagues.”
Tata AutoComp had over the past 2 years launched various programs aimed at its
leadership team like CEO master-class as well as Theory of Constraints.
About Tata
AutoComp Systems Limited
Tata AutoComp Systems Limited (Tata AutoComp), promoted by the Tata Group,
provides products and services to the Indian and Global automotive OEMs as well
as Tier 1 suppliers. Its clients include Ashok Leyland, BMW, Fiat, Force
Motors, Ford Motors India, General Motors India, Honda, John Deer, Mahindra and
Mahindra, Mahindra-Navistar, Man, Mercedes-Benz, Nissan, Piaggio, Renault, Tata
Motors, Toyota Kirloskar Motors Limited, Volkswagen and Volvo-Eicher. Tata
AutoComp has own capabilities in Automotive Interior and Exterior Plastics,
Composites, Sheet Metal Stampings as well as Engineering and Supply Chain. Tata
AutoComp has 6 joint ventures in partnership with leading companies from the
Global Auto Component Industry and has 48 manufacturing facilities spread
across India including one in China.
TATA AUTOCOMP SIGNS A MOU WITH BITS, PILANI
- Aims to offer avenues
of higher education to its employees -
11 August 2011
Pune, August 11, 2011: Tata AutoComp Systems Limited
(Tata AutoComp), a leading auto-component conglomerate has signed a
Memorandum of Understanding (MoU) with the Birla Institute of Technology and
Science, Pilani to run an Engineering course for its employees. The course
would be offered to all the employees who are Diploma Engineers and wish to
gain a degree in engineering.
Speaking on the
occasion, Mr. R S Thakur, MD and CEO of Tata AutoComp
Systems Limited said, “Tata AutoComp is
investing heavily in growing its own talent. We firmly believe that if we can
enrich our employees, we would have sown the seeds of building a strong
organization.”
Adding to this, Mr.
Gajendra Chandel, President Human Resource said, “Tata AutoComp has always been
at the forefront of coming up with innovative schemes which offer its employees
avenues to enrich their knowledge. Last year we had launched a unique “Earn and
Learn scheme” which aimed at providing technical education to 12th pass
students, while they could earn a livelihood. We have observed that in many
cases, the students wish to pursue higher education, but circumstances force
them to take up employment. We are offering our employees avenues by which they
can fulfil this need. This MOU is one more step taken in that direction. In the
coming future we intend to launch similar schemes, all aimed at offering our
diverse workforce avenues to gain higher education.”
The MoU was signed by
Mr. R S Thakur and Mr. Prasad, Director of BITS, Pilani. Reflecting on this MoU,
Mr. Prasad said, “So far we have been training young students on our campus.
This is the first time that we would be training a young and energetic
workforce, which has had hands-on work experience. This will be an interesting
experience for us too as we would get to validate what we teach in our
classrooms. It is a win-win situation for both and I wish many more corporate
come forward and emulate this example.”
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.59.71 |
|
|
1 |
Rs.90.59 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
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 |
|
54 |
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.