MIRA INFORM REPORT
|
Report Date : |
18.03.2013 |
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 |
|
|
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|
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 |
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|
|
|
Litigation : |
Clear |
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|
|
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating AA- |
|
Rating Explanation |
High degree of safety, it carry low credit
risk. |
|
Date |
February, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating A1+ |
|
Rating Explanation |
High degree of safety, it carry 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 : |
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 : |
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|
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 |
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E-Mail : |
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|
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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 |
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Fax No.: |
91-20-25660699 |
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|
|
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Factory 2 : |
Plot 28, Bidadi
Industrial Area, Ramnagar, Bangalore – 562109, Karnataka, India |
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Overseas
Office : |
35488 Crescent Court, |
|
Tel. No.: |
1-248-4744607 |
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Fax No.: |
1-248-4744668 |
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|
|
|
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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|
|||||||||||||||||||||||||||
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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 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2547.814 |
2547.814 |
2547.814 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
483.075 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(110.950) |
(609.150) |
|
|
NETWORTH |
3030.889 |
2436.864 |
1938.664 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
929.156 |
1831.372 |
2272.635 |
|
|
2] Unsecured Loans |
1802.539 |
2101.441 |
1588.300 |
|
|
TOTAL BORROWING |
2731.695 |
3932.813 |
3860.935 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5762.584 |
6369.677 |
5799.599 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2232.580 |
2143.667 |
1952.286 |
|
|
Capital work-in-progress |
61.878 |
55.600 |
134.053 |
|
|
|
|
|
|
|
|
INVESTMENT |
3687.556 |
3707.271 |
3417.816 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
519.610
|
475.842
|
444.878
|
|
|
Sundry Debtors |
1236.564
|
1056.650
|
1266.259
|
|
|
Cash & Bank Balances |
71.977
|
111.962
|
247.533
|
|
|
Other Current Assets |
148.732
|
159.019
|
2.816
|
|
|
Loans & Advances |
844.645
|
960.079
|
710.378
|
|
Total
Current Assets |
2821.528
|
2763.552
|
2671.864
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1664.948
|
1352.787
|
1843.925
|
|
|
Other Current Liabilities |
1030.132
|
845.137
|
381.036
|
|
|
Provisions |
345.878
|
102.489
|
151.459
|
|
Total
Current Liabilities |
3040.958
|
2300.413
|
2376.420
|
|
|
Net Current Assets |
(219.430)
|
463.139
|
295.444
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5762.584 |
6369.677 |
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} |
(%) |
17.31
|
11.02
|
9.15
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.22
|
0.22
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.90
|
1.61
|
1.99
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93
|
1.20
|
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
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
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.