1. Summary Information
|
Country |
India |
||
|
Company Name |
ASHOK LEYLAND
LIMITED |
Principal Name 1 |
Mr. Dheeraj G Hinduja |
|
Status |
Excellent |
Principal Name 2 |
Mr. R Seshasayee |
|
Registration # |
18-000105 |
||
|
Street Address |
No. 1, Sardar
Patel Road, Guindy, Chennai – 600 032, Tamilnadu, India |
||
|
Established Date |
07.09.1948 |
SIC Code |
-- |
|
Telephone# |
91-44-22206000 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-44-22206001 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Commercial
Vehicles |
|
|
# of employees |
Not Available |
Product Name 2 |
Engines |
|
Paid up capital |
Rs. 2660,680,000/- |
Product Name 3 |
Ferrous Castings |
|
Shareholders |
Promoter and
Promoter Group - 44.60 % Public - 55.40 % |
Banking |
Bank of America |
|
Public Limited Corp. |
Yes |
Business Period |
65 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Aa
(72) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
United Kingdom |
Hinduja Automotive Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
26,889,280,000 |
Current Liabilities |
43,251,682,000 |
|
Inventories |
22,306,252,000 |
Long-term Liabilities |
23,951,011,000
|
|
Fixed Assets |
49,134,941,000 |
Other Liabilities |
9,873,043,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
77,075,736,000 |
|
Invest& other Assets |
20,826,998,000 |
Retained Earnings |
39,421,055,000 |
|
|
|
Net Worth |
42,081,735,000 |
|
Total Assets |
119,157,471,000 |
Total Liab. & Equity |
119,157,471,000 |
|
Total Assets (Previous Year) |
105,933,145,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
128,419,932,000 |
Net Profit |
5,659,766,000 |
|
Sales(Previous yr) |
111,177,090,000 |
Net Profit(Prev.yr) |
6,312,993,000 |
MIRA INFORM REPORT
|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASHOK LEYLAND
LIMITED |
|
|
|
|
Registered
Office : |
No. 1, Sardar Patel
Road, Guindy, Chennai – 600 032, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.09.1948 |
|
|
|
|
Com. Reg. No.: |
18-000105 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2660.677 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L34101TN1948PLC000105 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturing of Commercial
Vehicles, Engines and Ferrous Castings. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 168000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well established and reputed company having a fine track
record. Financial position of the company appears to be sound. Directors are reported
to be an experienced and respectable businessmen. Trade relations are
reported as trustworthy. Business is active. Payments are reported to be
regular and as per commitments. The company can be considered excellent for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA (Long term Rating) |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
17.08.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short term Rating) |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
17.08.2012 |
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.
LOCATIONS
|
Registered Office : |
No. 1, Sardar Patel
Road, Guindy, Chennai – 600032, Tamilnadu, India |
|
Tel. No.: |
91-44-22206000 |
|
Fax No.: |
91-44-22206001 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate
Office : |
19, Rajaji Salai,
Chennai – 600 001, |
|
Tel. No.: |
91-44-25342141 |
|
Fax No.: |
91-44-25342493 |
|
E-Mail : |
chandrasekharan.ar@ashokleyland.com
|
|
|
|
|
Factory 1 : |
Kathivakkam High Road,
Ennore, Chennai - 600057, Tamilnadu, India |
|
|
|
|
Factory 2 : |
175 Hosur
Industrial Complex, Hosur - 635126, Tamilnadu, India |
|
|
|
|
Factory 3 : |
77 Electronic
Complex, Perandapalli Village, Hosur - 635109, Tamilnadu, India |
|
|
|
|
Factory 4 : |
Cab Panel Press
Shop, SIPCOT Industrial Complex, Mornapalli Village, Hosur - 635109,
Tamilnadu, , India |
|
|
|
|
Factory 5 : |
Plot No.1 MIDC
Industrial Area Village, Gadegaon, Sakoli Taluk, Bhandara - 441904,
Maharashtra, India |
|
|
|
|
Factory 6 : |
Plot No. SPL 298,
Matsya Industrial Area, Alwar - 301030, Rajasthan, India |
|
|
|
|
Factory 7 : |
3A/A and 2 North
Phase, SIDCO Industrial Estate, Ambattur, Chennai – 600098, Tamilnadu, India |
|
|
|
|
Factory 8 : |
Vellivoyalchavadi,
Via Manali New Town, Chennai - 600103, Tamilnadu, India |
|
|
|
|
Factory 9 : |
Plot No.1, Sector
XII, IIE, Pant Nagar - 263153, Uttarakhand, India |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Dheeraj G Hinduja |
|
Designation : |
Chairman, (Alternate : Y M Kale) |
|
|
|
|
Name : |
Mr. R Seshasayee |
|
Designation : |
Executive Vice
Chairman |
|
|
|
|
Name : |
Mr. Anil Harish |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. D J Balaji Rao |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. A K Das |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jean Brunol |
|
Designation : |
Director (from 20.10.2010 ) |
|
|
|
|
Name : |
Mr. Jorma Antero Halonen |
|
Designation : |
Director (from 19.05.2011) |
|
|
|
|
Name : |
Mr. Sanjay K Asher |
|
Designation : |
Director (from 21.12.2010) |
|
|
|
|
Name : |
Mr. F. Sahami |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Shardul S Shroff |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr V Sumantran |
|
Designation : |
Director (Non Executive Vice
Chairman) |
|
|
|
|
Name : |
Mr. Vinod K Dasari |
|
Designation : |
Managing Director |
|
|
|
|
Name: |
Mr. Y. M. Kamle |
|
Designation : |
Alternate Director |
|
|
|
|
Name : |
Mr. Anup Bhat |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. A K Jain |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. C G Belsare |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Nitin Seth |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. P G Nilsson |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. R R G Menon |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Sam Burman |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Rajive Saharia |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Shekhar Arora |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. B Venkat Subramaniam |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. A R Chandrasekharan |
|
Designation : |
Executive Director and Company Secretary |
KEY EXECUTIVES
|
Name : |
Mr. R J Shahaney |
|
Designation : |
Chairman Emeritus |
|
|
|
|
Name : |
Mr. K Sridharan |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. A R Chandrasekharan |
|
Designation : |
Executive Director and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Category
of Shareholder |
No. of Shares |
Percentage of
holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
1027237424 |
44.60 |
|
|
1027237424 |
44.60 |
|
Total shareholding
of Promoter and Promoter Group (A) |
1027237424 |
44.60 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
32207142 |
1.40 |
|
|
252158597 |
10.95 |
|
|
2218720 |
0.10 |
|
|
62720449 |
2.72 |
|
|
449362458 |
19.51 |
|
|
1000 |
0.00 |
|
|
1000 |
0.00 |
|
|
798668366 |
34.67 |
|
|
|
|
|
|
167790814 |
7.28 |
|
|
|
|
|
|
265326232 |
11.52 |
|
|
13894597 |
0.60 |
|
|
30461561 |
1.32 |
|
|
2529154 |
0.11 |
|
|
574494 |
0.02 |
|
|
721388 |
0.03 |
|
|
26569860 |
1.15 |
|
|
2000 |
0.00 |
|
|
60400 |
0.00 |
|
|
4265 |
0.00 |
|
|
477473204 |
20.73 |
|
Total Public
shareholding (B) |
1276141570 |
55.40 |
|
Total (A)+(B) |
2303378994 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
329200140 |
0.00 |
|
|
28097500 |
0.00 |
|
|
357297640 |
0.00 |
|
Total
(A)+(B)+(C) |
2660676634 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of
Commercial Vehicles, Engines and Ferrous Castings. |
||||||||||||||||
|
|
|
||||||||||||||||
|
Products as on 31.03.2011 : |
|
PRODUCTION STATUS AS ON 31.03.2011
Installed capacity – Two shifts
Commercial vehicles - 1,50,500 Nos.
|
Particulars |
Unit |
Actual
Production |
|
Commercial Vehicles |
Nos. |
95,337 |
|
Engines@ and Gensets |
Nos. |
17,603 |
|
|
|
|
@ Engines manufactured against spare capacity of commercial vehicles
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M S Krishnaswami and Rajan Chartered Accountants |
|
|
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
|
|
|
Name : |
Geeyes and Company Chartered Accountants |
|
|
|
|
Holding Company: |
|
|
|
|
|
Fellow subsidiaries: |
|
|
|
|
|
Associates: |
|
|
|
|
|
Joint Ventures: |
|
CAPITAL STRUCTURE
AS ON 19.07.2011
Authorised Capital : Rs. 4000.000 Millions
Issued, Subscribed
& Paid-up Capital : Rs. 2660.677 Millions
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
Re.1/- each |
Rs.3000.000
Millions |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2014566829 |
Equity Shares |
Re.1/- each |
Rs.2014.567
Millions |
|
646314480 |
Equity shares
issued through Global depository receipts |
Re.1/- each |
Rs.646.314
Millions |
|
|
Total |
|
Rs.2660.881
Millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2014362154 |
Equity Shares |
Re.1/- each |
Rs.2014.362
Millions |
|
646314480 |
Equity shares issued through Global depository receipts |
Re.1/- each |
Rs.646.314
Millions |
|
|
Add: Forfeited shares |
Re.1/- each |
Rs.0.004 Million |
|
|
Total |
|
Rs.
2660.680 Millions |
|
Note |
31.03.2012 |
|
1. Reconciliation of number of Equity shares subscribed |
|
|
Balance as at the beginning of the year |
1330338317 |
|
Add: Shares
issued and allotted as bonus shares during the year in the ratio of 1:1 [
Refer Note 1.2 (b) to the Financial Statements] * |
1330338317 |
|
Balance as at the end of the year |
2660676634 |
* Represents the
number of shares issued as Bonus shares during last five years
2. Shares held by
the Holding Company
Hinduja Automotive
Limited, the holding Company, holds 102,72,37,424 (2011: 51,36,18,712) Equity
shares and 54,86,669 (2011: 54,86,669) Global Depository Receipts (GDRs)
equivalent to 32,92,00,140 (2011: 16,46,00,070) equity shares of Re. 1 (2011:
Re.1) each aggregating to 50.98% of the total share capital.
3. Shareholders
other than the Holding Company holding more than 5% of the total share capital
Life Insurance Corporation of India holds 25,93,11,056 (2011: 12,59,14,895)
Equity shares of Re.1 each aggregating to 9.75% (2011: 9.46%).
4. Pursuant to the
issue of bonus shares in the ratio of 1:1 during the year, the entitlement of
GDR holders to the underlying Equity shares in the Company has increased
proportionately.
5. Rights,
preferences and restrictions in respect of equity shares and GDRs issued by the
Company
a) The Equity
shareholders are entitled to receive dividends as and when declared; a right to
vote in proportion to holding etc. and their rights, preferences and
restrictions are governed by / in terms of their issue under the provisions of
the Companies Act, 1956.
b) The rights,
preferences and restrictions of the GDR holders are governed by the terms of
their issue, and the provisions of the Companies Act 1956. Each GDR holder is
entitled to receive 60 equity shares [ 2011: 30 equity shares ] of Re. 1 each,
per GDR, and their voting rights can be exercised through the Depository
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 |
2660.680 |
1330.342 |
1330.342 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
39421.055 |
38299.279 |
35357.239 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
42081.735 |
39629.621 |
36687.581 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9600.000 |
11822.975 |
7115.668 |
|
|
2] Unsecured
Loans |
14351.011 |
13859.673 |
14923.250 |
|
TOTAL BORROWING
|
23951.011 |
25682.648 |
22038.918 |
|
|
DEFERRED TAX
LIABILITIES |
4903.669 |
4438.869 |
3845.369 |
|
|
Deferred
Liability |
-- |
899.267 |
765.485 |
|
|
Foreign Currency
Monetary Item Translation Difference - net |
-- |
0.000 |
(124.501) |
|
TOTAL
|
70936.415 |
70650.405 |
63212.852 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
49134.941 |
46337.918 |
42495.592 |
|
Capital work-in-progress
|
5482.209 |
3579.661 |
5614.697 |
|
|
|
|
|
|
|
INVESTMENT
|
15344.789 |
12299.968 |
3261.549 |
|
|
|
|
|
|
|
|
DEFERRED TAX
ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
22306.252
|
22089.034
|
16382.400
|
|
|
Sundry Debtors
|
12302.479
|
11852.133
|
10220.615
|
|
|
Cash & Bank Balances
|
325.558
|
1795.272
|
5189.205
|
|
|
Other Current Assets
|
907.942
|
0.000
|
0.000
|
|
|
Loans & Advances
|
13353.301
|
7936.014
|
9604.623
|
Total Current Assets
|
49195.532
|
43672.453
|
41396.843
|
|
Less : CURRENT
LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Sundry Creditors
|
27724.610
|
21283.898
|
15625.520
|
|
|
Other Current Liabilities
|
15527.072
|
9095.579
|
10295.137
|
|
|
Provisions
|
4969.374
|
4903.263
|
3686.915
|
Total Current Liabilities
|
48221.056
|
35282.740
|
29607.572
|
|
Net Current Assets
|
974.476
|
8389.713
|
11789.271
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
43.145 |
51.743 |
|
|
|
|
|
|
|
TOTAL
|
70936.415 |
70650.405 |
63212.852 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
128419.932 |
111177.090 |
72447.105 |
|
|
|
Other Income |
403.503 |
153.343 |
704.454 |
|
|
|
TOTAL (A) |
128823.435 |
111330.433 |
73151.559 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Expenses
|
- |
99001.516 |
64818.713 |
|
|
|
Voluntary retirement scheme compensation amortised |
- |
0.000 |
32.715 |
|
|
|
Cost of materials consumed |
91214.833 |
- |
- |
|
|
|
Purchases of Stock-in-Trade - Traded goods |
5073.737 |
- |
- |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(1670.130) |
- |
- |
|
|
|
Employee benefits expenses |
10203.942 |
- |
- |
|
|
|
Other expenses |
11036.601 |
- |
- |
|
|
|
TOTAL (B) |
115858.983 |
99001.516 |
64851.428 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12964.452 |
12328.917 |
8300.131 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2552.532 |
1636.614 |
811.304 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10411.920 |
10692.303 |
7488.827 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION, AMORTISATION AND
IMPAIRMENT (F) |
3528.132 |
2674.310 |
2041.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6883.788 |
8017.993 |
5447.748 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1224.022 |
1705.000 |
624.729 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5659.766 |
6312.993 |
4236.748 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7511.852 |
5774.498 |
4823.019 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer from / (to) - Debenture redemption reserve |
(900.000) |
|
(41.667) |
|
|
|
|
375.000 |
525.000 |
0.000 |
|
|
|
- General reserve |
1000.000 |
1000.000 |
1000.000 |
|
|
|
Proposed dividend |
2660.677 |
2660.677 |
1995.507 |
|
|
|
Corporate dividend tax thereon |
431.628 |
431.628 |
331.429 |
|
|
BALANCE CARRIED
TO THE B/S |
9604.313 |
7511.852 |
5774.498 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export – FOB Value |
15403.597 |
11090.912 |
6041.093 |
|
|
|
Royalty, Know-how, Professional and
consultation fees |
112.248 |
-- |
-- |
|
|
|
Interest |
90.382 |
81.809 |
101.328 |
|
|
|
Others (Includes freight, insurance, dividend and
commission earned) |
853.310 |
592.933 |
302.092 |
|
|
TOTAL EARNINGS |
16459.537 |
11765.654 |
6444.513 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4403.902 |
4445.936 |
2833.714 |
|
|
|
Trading goods and others |
215.180 |
163.465 |
165.378 |
|
|
|
Spares & Tools |
156.808 |
100.679 |
39.923 |
|
|
|
Capital Goods |
1725.637 |
924.135 |
2711.536 |
|
|
TOTAL IMPORTS |
6501.527 |
5634.215 |
5750.551 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
2.13 |
4.75 |
3.18 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Sales Turnover |
30073.470 |
3,2960.500 |
2,3805.100 |
|
Total Expenditure |
27666.490 |
2,9619.600 |
2,2781.900 |
|
PBIDT (Excl OI) |
2406.980 |
3340.900 |
1023.200 |
|
Other Income |
128.660 |
238.700 |
141.000 |
|
Operating Profit |
2535.640 |
3579.600 |
1164.100 |
|
Interest |
833.760 |
1036.400 |
1071.100 |
|
Exceptional Items |
0.000 |
0.000 |
1562.600 |
|
PBDT |
1701.880 |
2543.200 |
1655.600 |
|
Depreciation |
892.520 |
984.100 |
931.100 |
|
Profit Before Tax |
809.360 |
1559.100 |
724.500 |
|
Tax |
140.000 |
133.100 |
(16.900) |
|
Provision and Contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
669.360 |
1426.000 |
741.400 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
669.360 |
1426.000 |
741.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.39
|
5.67
|
5.79
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.36
|
7.21
|
7.52
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.00
|
8.91
|
6.49
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.20
|
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.57
|
0.65
|
0.60
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
1.24
|
1.40
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
------- |
|
26] |
Buyer visit details |
------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
LITIGATION
DETAILS:
CHENNAI COURT
CASE STATUS
INFORMATION SYSTEM
|
Case Status : |
Pending |
|
Status Of : |
WRIT APPEAR |
|
Case No.: |
1718 |
|
Year: |
2012 |
|
Petitioner : |
THE STATE TRANSPORT AUTHORITY |
|
Respondent : |
ASHOK LEYLAND LIMITED |
|
Pet’s Advocate : |
GOVT PLEADER |
|
Res’s Advocate : |
G.KRISHNAKUMAR |
|
Category : |
No Category Mentioned |
|
|
Last Listed on: No Date Mentioned |
|
Case Updated on : |
Oct 3 2012 |
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
|
Long term monetary item in foreign currency - External Commercial Borrowings from banks |
12549.167 |
|
Interest free sales tax loans |
669.217 |
|
Loans from a Financial institution |
115.127 |
|
Short term Loan -1 |
508.750 |
|
Short term Loan -2 |
508.750 |
|
Total |
14351.011 |
|
Particulars |
31.03.2011 (Rs.
in Millions) |
|
Long term monetary liabilities in foreign currency |
|
|
– Foreign currency convertible notes |
|
|
– External commercial borrowings from banks |
12142.020 |
|
– Exchange loss on translation |
641.880 |
|
Interest free sales tax loans |
12783.900 |
|
Loans and advances from |
|
|
– Banks |
0.000 |
|
– Others |
200.921 |
|
Total |
13859.673 |
Company
Performance:
The year witnessed
a lot of challenges with growing competition and changes in customers
preference. Despite the challenges posed, the Company achieved a sale volume of
101,990 vehicles – highest recorded in any year so far. This was aided by the
launch of ‘Dost’, the first variant in the Light Commercial Vehicles (LCV)
category, during the year. Overall, the performance in Exports, Power,
Solutions Business and Spares have also been encouraging.
Long Term
Borrowings:
Secured
Non-Convertible Debentures
During the year,
The Company issued Secured Nonconvertible Debentures Series AL 16 to the tune
of Rs.1500.000 millions repayable at the end of 3rd, 4th and 5th
year from the date of issue and fully redeemed Secured Non- Convertible
Debentures Series AL 12 of Rs. 1500.000 millions.
External
Commercial Borrowings (ECBs)
The Company
contracted ECBs to the tune of Japanese Yen equivalent to USD 150 Mn during
2011-12 from banks for an average tenor of 5 years (door to door of 6 years) on
unsecured basis and drew Japanese Yen equivalent to USD 90 Mn during 2011-12.
The balance of USD 60 Mn would be drawn in the ensuing financial year. The
funds drawn under ECBs were utilized to fund the capital expenditure programmes
of theCompany as per extant RBI guidelines and as per the terms of the loan.
The Company repaid ECB loan instalments that fell due to the tune of USD 36.66
Mn during 2011-12.
Strategic
Alliances
Optare plc, U.K.
In line with the
vision of being among the top 5 bus manufacturers globally, significant stakes
were acquired by the Company together with it’s investment arms in Optare plc, a
leading bus manufacturer in U.K. thereby opening large opportunities for growth
and development based on synergy and integration with the Company’s bus
business.
Future plan of
action:
- I ntroduction of
the world’s first front engine, single step entry, fully flat low floor bus,
the Jan Bus (displayed at Auto Expo 2012).
- New range of
Intermediate Commercial Vehicle trucks with higher payload, better performance
and completely new styling.
- New 5-axle
haulage vehicle off the U-Truck platform, with liftable/self-steer pusher lift
axle, for improved payload carrying capacity and superior price-performance
point.
- Next Generation
of medium duty truck platform and cab with all-new styling under development.
Market
Trends
Indian Economy
During
2011-12, the Indian economy slowed down substantially compared to the previous
year. Overall GDP growth rate dropped from a high of 8.1% in 2010-11 to 6.9% in
the first 3 quarters of the year. Advance GDP estimates peg the number to be in
the range of 6.8% to 7% for FY 2011-12. High inflation, rising interest rates,
spiralling oil prices and dampened business sentiments contributed to the
slowdown. Wholesale price index eventually declined to 6.9% levels in March and
April 2012, which, among other factors, triggered one of the first rate cuts by
RBI in many months. While a few more rate cuts are expected at suitable
junctures in the current fiscal, RBI still pegs overall GDP growth at 7.3% for
FY 2012-13 and range-bound inflation levels at around 6.5% till March 2013. In
the previous fiscal, consumption was partly supported by a booming rural
economy, thanks to schemes such as NREGS which saw a rise in the sale of
2-wheelers and other similar products. Further, a reasonably good performance
in agriculture (growth at about 3%) bolstered the GDP to some extent.
However,
this was dampened by poor industrial growth, with Year-to-date IIP growth rate
of only 3.5%, compared
to
8.1% in the same period previous fiscal. Specifically, the manufacturing growth
rate slowed from 8.7% to 3.7%. Mining experienced contraction due to
interventions by executive and judiciary bodies which had an impact on growth.
The mining sector, consequently shrank by 2.9% in Q2 FY12 and 3.1% in Q3 FY12
(Year-on-Year) as opposed to a growth of 7.3% and 6.1% in the corresponding
quarters of FY 2010-11. Slowdown was apparent in
construction
as well (1.2% in Q1 FY12, compared to 8.4% in the same quarter last year).
However, this sector has shown some promise in Q3, with growth rising to 7.2%.
This was largely driven by government thrust in infrastructure (particularly
roads).
IIP
growth rate has improved in January and February 2012. Manufacturing inched
back to +4% levels, and mining also showed the first positive signs of growth
in about 8 months, though on a low base.
The
prevalent governance slowdown remains an area of concern. Fiscal Deficit has
continued to expand and is estimated to cross 5.9% of GDP by analysts, contrary
to budget estimates of 4.6%. Continually high oil prices, the possibility of
having to import coal at higher-thanestimated rates to meet the rising power
gap and the continuing subsidy burdens do not augur well for the public
accounts next year as well.
Commercial Vehicle industry
As was
predicted last year, the Commercial Vehicle (CV) industry grew well, albeit at
a slower pace compared to the previous year, having recovered to higher base
volumes. The industry also saw a substantial amount of competitive activity.
The
industry recorded 18% growth during 2011-12 to post its highest ever volumes of
8,09,532 units. Medium and
Heavy
Commercial Vehicles (M and HCV) grew by 8%, posting volumes of 3,48,701, again
recording highest ever sales. Light Commercial Vehicles (LCV) posted a growth
of 27.4% and reached volumes of 4,60,831 units. The contribution of M&HCV
declined to about 43% of the overall CV segment, compared to 47% in the
previous year.
The
LCV segment continued to grow steadily. It has, in fact, been one of the
strongest growing segments in the entire automobile space. In fact, the Small
Commercial Vehicle segment [trucks less than 3.5 tonnes Gross Vehicle Weight
(GVW)] within LCVs, which accounts for over 3/4th of the LCV market,
is driving growth on the back of strong demand for transportation of consumer
goods within cities and replacement demand from upper-end three wheelers.
Reflecting the
uncertain economic scenario, multi-axle
rigid trucks with capacities greater than 25 tonnes have reported a
sales drop of 2% over the previous year. These are used to transport a wide
range of goods, such as
agricultural
produce, cement, other materials used in construction and industrial goods.
This drop was due to overall slowdown in industrial, mining and construction
activity, and the resultant caution among transporters. It was also in part due
to the shift to rigid vehicles with higher capacity (8X2), to achieve greater
operating efficiencies. Conversely, sales of intermediate commercial trucks, in
the 10-12 tonne capacity range, registered a growth rate of 21% during 2011-12.
Sale of Tippers also grew by 37%, due to substantial fleet replacements as well
as the boost given to infrastructure in the second half of the fiscal by the
Government.
Also notable was
the slowdown in the Southern Indian market. This was due to elections in Tamil
Nadu, blanket mining ban in Karnataka and continued political uncertainty in
Andhra Pradesh. Total Industry Volumes in multi axle vehicles reduced by almost
17% in the first 3 quarters before recovering somewhat in the fourth quarter.
Overall, volumes grew by 5%, lower than the national average of 8%.
2011-12 was a
watershed year for Indian exports, with the highest ever number of vehicles
being exported worldwide from India (92,663 nos.). Exports of LCVs registered a
substantial growth of 41%, while M&HCVs registered 2.4% growth over the
previous year.
Ashok Leyland -
2011-12 in brief
Medium and heavy commercial vehicles
Ashok Leyland
delivered mixed results in 2011-12. The Company registered its highest ever
sales of 94,397 vehicles, with a marginal growth of 0.3% compared to the
previous year.
In the domestic
market, the Company sold 81,147 M&HCVs, 2% less than the previous year.
These included 20,635 M&HCV buses and 60,512 M&HCV trucks, 1% more and
3.5% less respectively, compared to the previous year. The Company lost 2.4%
market share in the Indian Medium and Heavy CV market during FY 2011-12.
Sales of Multi-
Axle Vehicles, the largest segment in trucks, contracted by 13% in Southern
India. On the other hand, the Intermediate Commercial Vehicles (ICV) goods
segment grew nationwide by nearly 21% and Ashok Leyland did gain market share
in ICV goods, a fast-growing segment in which the Company has a nascent
presence. To sum up, contraction of Ashok Leyland's strongholds, and rapid
growth of segments where the Company has limited presence resulted in a mixed
outcome in the domestic market.
The Company
demonstrated substantial growth in exports, clocking 12,852 vehicles in 2011-12,
25% growth compared to the previous year. Besides the performance in the SAARC
markets, the Company benefited through strategic expansion into several new
geographies. Sales in the Middle East grew substantially, despite the overall
uncertainty in the region, bolstered by the Company's capability to locally
manufacture buses at Ras-al-Khaimah. Besides this, the Company entered several
nations in the Commonwealth of Independent States (CIS) and Africa, offering a
wide range of bus and truck products. The Company's performance in the Russian
and CIS markets has been very heartening. The Russian market was penetrated
with the sales of AVIA trucks and bus chassis and the launch of Midi buses in
collaboration with a local bus body builder of repute. A similar strategy was
adopted in the Ukraine, by entering that market in partnership with local bus
body builders. The Company seeks to make significant inroads into both these
markets going forward.
The Power
Solutions Business earned revenues of Rs. 3490.000 Millions in the year
2011-12, which is comparable to the earnings of the previous year.
A healthy 20%
growth was achieved in the Spare Parts Business in 2011-12, with an all-time
high turnover of Rs. 8520.000 millions, reflecting an increasing use of genuine
parts in the service considered necessary as the technical complexity of the
product increases. The Defence business continued to hold steady, with sales of
370 vehicles and 2,981 kits. Overall, the turnover from the Spare Parts
Business, kits, traded products and components, etc. stood at Rs. 17170.000
millions.
In FY 2011-12, the
Company produced 95,559 vehicles, 0.2% growth compared to the previous year.
The Company's recently commissioned plant in Pantnagar, a state-of-the-art
production facility in the northern state of Uttarakhand, continued to ramp up
manufacturing capacity and reached production rate of over 4,000 units per
month in March 2012.
The Company also
expanded its dealer network substantially in areas where hitherto it had only
limited coverage. Full service outlets grew to over 400 and for the first time,
the number of outlets in the North exceeded the number in the South.
To address the
challenges faced in the domestic market, the Company applied substantial
product development
and marketing
effort, targeted at the fastest growing segments and regions. This resulted in
promising growth in the 4th quarter of the previous fiscal. The Company has
also lined up several ground-breaking products for core segments in the
upcoming fiscal. Three such new products were displayed at the Auto Expo 2012
held in Jan'12 in Delhi: the Jan Bus, 10x4 Multi-axle truck and the 8m ICV bus
named 'Solo', all of which will be launched shortly. While the Jan Bus is the
world's first single step, front engine, fully flat floor bus, the 10x2 will be
a pioneering product for the Indian CV industry. The 10x2 MAV represents a
significant product introduction into the largest truck segment, indicating
further movement towards higher tonnage vehicles. The launch of Solo is further
evidence of the Company's capability to bring world-class passenger transport
products to the growing Indian market.
The Company's
continued investments in Research and Development through 2011-12 will also
result in several launches in the next fiscal. The New Generation Cab and the
Neptune Engine programmes will see market introductions. ICV, the fastest
growing segment in the M&HCV range, will see the Company come up with a
brand new product with inputs from AVIA Ashok Leyland Motors s.r.o in the Czech
Republic.
The Company has
continued to invest in efficient IT systems to support its strategies and one
important step in this regard has been through the SAP system to achieve full
integration across the Company.
In a scenario of
blurring lines of product differentiations, it is the strength of the brand
that will prove vital and well mindful of this, the Company took several
important steps to build brand Ashok Leyland. Firstly, the Company's brand
promise was re-articulated as 'It's all
about You', the 'You' standing for the customer who was
at the centre of all activities and every effort was made to improve his
profitability. To lead and give traction to the many marketing initiatives,
some launched and others soon to be, all aimed at enhancing customer experience
and thereby market share, the Company signed on the iconic Indian cricket
captain, M. S. Dhoni as its Brand Ambassador. Apart from befitting the values
of the Company very well, he will be at the forefront of the efforts of the
Company to be a stronger global brand.
Apart from Brand,
the other identified focus areas for development were Quality, People,
Innovation and Efficiency. The Company has taken on challenging targets on each
of these areas and has kicked off a host of ambitious banner projects.
In summary, the
Company has prepared well for the challenging economic scenario expected in
future, as well as the upcoming competition in the M&HCV space.
Light Commercial Vehicles
Taking advantage
of the proliferation of the hub-andspoke model and the strong demand
originating from the rural segment, the Company entered the LCV segment with
the launch of 'Dost' last year.
The product has
been well accepted by customers, with 7,593 vehicles having been sold in the
last fiscal. Within 6 months of launch, 'Dost' is already the second highest
selling model in the 2-3.5T GVW segment and has achieved a pan India market
share of 16.6%. This is despite 'Dost' having been launched in only six States
(Tamilnadu, Kerala, Karnataka, Andhra Pradesh, Maharashtra and Gujarat). 'Dost'
is being sold through an all-new dedicated distribution network. The product
continues to enjoy tremendous pull, particularly for its high end variants that
offer more features, such as power steering, air conditioning, etc.
The Company is
aggressively ramping up production at its Hosur facility to meet the rising
demand for 'Dost'. The
dealer network
will also be expanded, and the product launched in additional states this fiscal.
Further variants of 'Dost' are in the pipeline. In addition, the Company also
displayed 2 new platforms in the Auto Expo 2012 – the 'Partner' 6T truck and
the 'Stile' Multi- Functional Vehicle – both of which will be launched over the
next 2 years.
Hinduja Leyland Finance Limited
The Non-banking
Finance Company (NBFC), Hinduja Leyland Finance Limited (HLFL) promoted by
Ashok Leyland, commenced their operations in March 2010. HLFL now has
operations in 440 locations with employee strength of 1199 (increased from 588
in the year 2010). In 2011-12, HLFL continued to grow rapidly. The company made
a disbursement of Rs. 2,107 Cr., a rise of over 70% from the previous year,
across a wide range of segments, including Medium and Heavy Commercial Vehicles,
Light Commercial Vehicles and 3-wheelers.
Ashok Leyland John Deere Construction Equipment
Company Private Limited
The 50:50 Joint
Venture with John Deere Construction & Forestry Company, USA, successfully
launched its first product, the 435 Backhoe Loader in November 2011. The JV
Company sold 221 units in 4 months in the current fiscal. The JV Company's
product has been well accepted by customers due to its superior positioning
compared to its competitors. The development of the distribution system is in high
gear, starting with the Southern market. 18 dealership nodes have already been
rolled out and another 27 planned in the coming year. New service benchmarks
are being set with 100% achievement of completing running repairs on the same
day and 100% parts availability within 24 hours. The JV Company is planning to
launch the Wheel Loader in the year 2012-13.
Automotive Infotronics Limited
This 50:50 Joint
Venture with Continental AG aims to become an innovation centre for delivering
automotive infotronics solutions at value price points. The JV showcased its
capability and products like the Telematics OBU (On-Board Unit) at the
Continental booth at Auto Expo 2012 in Delhi to fleet operators, IT/BPO
personnel, transporters, etc. The company is working with several OEMs for both
OEM and aftermarket solutions.
Albonair GmbH
Albonair GmbH,
Germany was established with a vision of being a complete SCR solution provider
for reducing automotive emissions. The company is actively marketing its
products to global automotive and construction equipment OEMs and progressing
on business discussions with various global OEMs. With increase in demand due
to stricter emission norms, Albonair is expanding its production base in
Germany and in India. In Germany,
Albonair received
the quality certificate ISO 14001 (environmental audit).
Ashok Leyland Defence Systems Limited (ALDS)
ALDS, a newly
formed associate company, will provide increased focus to address the
opportunities in the Indian
and overseas
defence markets. ALDS participated in DEFEXPO'12 and the vehicles on display
were well received by customers. ALDS exhibited a Light Tactical Vehicle on the
new COLT platform. The company is in discussions for technical collaboration
with various producers of equipment in the world.
Ashley Alteams India Limited (AAIL)
The 50:50 JV
partnership between Ashok Leyland and Alteams OY, Finland aims to be a
world-class aluminium die-casting manufacturer and become a 'partner of choice'
for their customers by providing innovativeproduct solutions. AAIL has set up
an Electroplating facility which is now ready and under evaluation. The Surface
Coating Facility was inaugurated in August 2011. TS 16949, ISO 9001 and ISO
14001 Surveillance Audits have been successfully completed.
AVIA Ashok Leyland Motors s.r.o (AALM)
AVIA Ashok Leyland
Motors s.r.o in Prague, has been producing trucks in the total weight class of
6.5 to 12 tonnes. In 2011, the Letòany manufacturing plant produced 600 trucks
for the markets of Europe, the United States, and Asia. The company recorded a
growth of 34% during this year. This increase was primarily attributable to
recovery in Eastern Europe, the expansion into the Commonwealth of Independent
States and the Middle East. Avia is expanding the market reach further to Latin
America and the USA.
Defiance Technologies Limited
Defiance
Technologies Ltd. is a leading provider of Engineering, ERP and IT services to
global customers leveraging the Global Delivery Model. Headquartered at
Chennai, India, Defiance has world-class development centres at Chennai and
Bangalore in India, and state-ofthe- art testing facilities at Troy and
Westland, Michigan. Apart from serving many global MNCs in India and abroad,
the company is also pursuing many significant opportunities from leading
companies including multicountry, multi-lingual Web Content Management System
migration.
STATEMENT OF UNAUDITED RESULTS FOR THE QUARTER ENDED 30-06-2012
(Rs.
In millions)
|
Particulars |
Three Months Ended |
|
30.06.2012 Unaudited |
|
|
Part-I |
|
|
Income
from Operations |
|
|
Net Sales / Income from operations (Net of
excise duty) |
29409.800 |
|
Other Operating Income |
663.672 |
|
Total
Income from Operations (net) |
30073.472 |
|
|
|
|
Expenses |
|
|
Cost of materials consumed |
20486.898 |
|
Purchases of stock-in-trade - trading goods |
2532.018 |
|
Changes in inventories of finished goads, work-in-progress and
stock-in-trade |
(1132.230) |
|
Employee benefits expense |
2678.560 |
|
Depreciation and amortisation expense |
892.523 |
|
Other expenses |
3101.239 |
|
Total Expenses |
28559.008 |
|
Profit from operations before other income, finance costs and
exceptional item |
1514.464 |
|
Other income |
128.659 |
|
Profit from ordinary activities before finance costs and exceptional
item |
1643.123 |
|
Finance costs |
833.764 |
|
Profit from ordinary activities after finance costs but before
exceptional item |
809.359 |
|
Exceptional item - Profit on disposal of non-current investments - net |
-- |
|
Profit from ordinary activities before tax |
809.359 |
|
Tax expense - Income Tax |
|
|
Current Tax |
100.000 |
|
Deferred
Tax |
40.000 |
|
Net Profit from ordinary activities after tax |
669.359 |
|
Extraordinary item (net of tax) |
-- |
|
Net profit for the period |
669.359 |
|
Paid-up equity share capital (Face value
per share Re.1 |
2660.680 |
|
Reserve excluding Revaluation Reserves as
per balance sheet |
|
|
Basic and Diluted Earnings Per Share (EPS)
(Rs.) (post bonus) (of Re. 1 each - not annualized) |
0.25 |
|
Part-II |
|
|
Particulars of Shareholding |
|
|
Public shareholding |
|
|
-Number of shares |
1304239070 |
|
Percentage of
shareholding |
49.02 |
|
|
|
|
Promoter shareholding |
|
|
Pledged I
Encumbered |
237052102 |
|
Number of shares |
17.48 |
|
Percentage of
promoter shareholding |
8.91 |
|
Percentage of
total share capital |
|
|
|
|
|
Non-encumbered |
|
|
Number of shares |
1119385462 |
|
Percentage of
promoter shareholding |
82.52 |
|
Percentage of total
share capital |
42.07 |
|
|
Particulars |
THREE MONTHS ENDED-30.06.2012 |
|
B. |
Investor Complaints |
|
|
a. |
Pending at the beginning of the quarter |
2 |
|
b. |
Received during the quarter |
49 |
|
c. |
Disposed during the quarter |
47 |
|
d. |
Remaining unresolved at the end of the quarter |
4 |
WEB DETAILS
PRESS RELEASE
ASHOK LEYLAND GAINS SHARE IN A FALLING MARKET • M&HCV MS @ 26.5% •
POSTS ALL-TIME HIGH ANNUAL SALES AT 114,612 VEHICLES, UP 12%
TUESDAY, APRIL 2, 2013
Ashok Leyland, the Hinduja Group flagship in India, has closed the year at 70,917 vehicles (81,545 vehicles) in the domestic market with a market share of 26.5% translating into a gain of 3% in a falling M&HCV market. The Company’s successful LCV – ‘Dost’ – contributed 34,917 vehicles (7,593 vehicles) and exports stood at 8,778 vehicles (12,852 vehicles) to push the overall sales to 114,612 vehicles (101,990) which is an all-time high.
Total sales during March 2013 was at 14,020 vehicles (14,266 vehicles). Domestic sales contributed 8,846 vehicles (10,450 vehicles); Exports stood at 849 vehicles (1,605 vehicles); DOST sales was at 4,325 vehicles (2,211 vehicles).
ASHOK LEYLAND ‘DOST’
COMPLETES ONE FULL YEAR OF OPERATIONS • OVER 34,900 SOLD IN JUST 12 STATES •
BAGS EXPORT ORDERS FROM SAARC MARKETS
TUESDAY, APRIL 2, 2013
‘Dost’, the 2.5T Light Commercial Vehicle from Ashok Leyland, the Hinduja Group flagship, completed one full year of successful operations clocking a sales volume of 34,917 numbers garnered from the 12 States it is presently sold in. Riding on this success, the Company has bagged healthy export orders for ‘Dost’ from the SAARC markets.
“We set out to create a vehicle to meet the requirements of an evolving LCV customer in India and we are deeply appreciative of the overwhelming customer response to ‘Dost’,” said Dr. V. Sumantran, Vice Chairman, Ashok Leyland. “’Dost’ has truly re-defined the benchmark among small LCVs with its class-leading performance, superior reliability and low cost of ownership. We still have a long road in front of us but this surely is a journey that has started off well for us,” he added.
A true measure of its success is the fact that Ashok Leyland ‘Dost’ has already emerged as the market leader with a market share of 19% (all India) in its 2-3.5T category. With the help of an entirely new dealership network equipped with modern infrastructure that is already 100 strong, the Company plans to progressively offer ‘Dost’ pan India as well as feed the overseas markets. At the same time, plans are afoot to enhance its LCV portfolio with the introduction of variants both in the goods and passenger segments.
‘Dost’, which has a payload capacity of 1.25T, is available in three versions with the top-end version featuring air-conditioning, power steering and a palette of four colours to choose from: White, Beige, Blue and Aqua Green. Ashok Leyland also offers Ready-to-Use Vehicles (RUVs) on the ‘Dost’ platform for various applications such as Refrigerated containers, Steel containers, Ambulance, Aluminium Fixed Side Decks and Service-At-Site vehicles.
ASHOK LEYLAND ROLLS OUT THE FIRST SCR BSIV - OBD-II COMPLIANT
COMMERCIAL VEHICLE IN THE COUNTRY
MONDAY, APRIL 1, 2013
The Hinduja Group flagship, Ashok Leyland, rolled out the country’s first On Board Diagnostic (OBD II) compliant vehicle powered by a BSIV engine and equipped with Selective Catalytic Reduction (SCR) technology. Ashok Leyland was the first OEM to receive the OBD-II certification for BS IV-compliant commercial vehicle engines in SCR (Selective Catalytic Reduction), EGR (Exhaust Gas Recirculation) and CNG technologies. This is as per the legislation that comes into effect from April 1st, 2013 on all BSIV commercial vehicles above 3.5 tonnes GVW.
Speaking about the development, Mr. Vinod K. Dasari, Managing Director, Ashok Leyland said, “This is a remarkable achievement of having completed the entire process of certification to final product roll out in record time and credit is due not only to our team but to our suppliers as well who partnered us. With the introduction of stricter emission norms, there is a greater need for sophisticated emission control systems and technologies and OBD II will go a long way in improving the overall life and productivity of the vehicle and, at the end of the day, enhance our customers’ profitability.”
OBD detects failures that adversely affect emissions and illuminates a dashboard light known as the Malfunction Indicator Lamp (MIL) to warn the driver of faults. It aids diagnosis and repair of complex electronic engine controls, helps keep emissions low by early identification of controls that need repair, is a life-long solution for the vehicle while from an industry perspective, it encourages the design of durable emission control systems.
FIXED ASSETS:
·
Freehold and
Leasehold Land
·
Buildings
·
Plant and
Machinery
·
Furniture, Fittings and Equipment
·
Computer
·
Fittings and
Equipments
·
Vehicles and Aircraft
·
Computer Software
·
Technical Know how
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.53.95 |
|
|
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
|
|
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
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.