|
Report Date : |
16.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
TATA TECHNOLOGIES LIMITED (w.e.f.08.02.2001) |
|
|
|
|
Formerly Known
As : |
TATA TECHNOLOGIES (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 25, Rajiv Gandhi Infotech Park, MIDC, Taluka – Mulshi,
Hinjawadi, Pune – 411127, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.08.1994 |
|
|
|
|
Com. Reg. No.: |
11-013313 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.430.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200PN1994PLC013313 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNET01082E / PNET03780A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT3092N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Designing of Automotive Focused Engineering Goods. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 28330000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Tata Group. It is an established company having
fine track. Financial position of the company appears to be sound and
healthy. Trade relations are 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. The company can be considered as a promising business partner in
medium to long run. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: (AA +) |
|
Rating Explanation |
Strong degree of safety. It carry very low
credit risk. |
|
Date |
22.03.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: (A1+) |
|
Rating Explanation |
Very strong degree of safety. It carry very
lowest credit risk. |
|
Date |
22.03.2013 |
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Abhijit Saha |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-20-66529065 |
|
Date : |
15.11.2013 |
LOCATIONS
|
Registered Office : |
Plot No. 25, Rajiv Gandhi Infotech Park, MIDC, Taluka – Mulshi,
Hinjawadi, Pune – 411127, Maharashtra, India |
|
Tel. No.: |
91-20-66529090 |
|
Fax No.: |
91-20-66529035 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 21.06.2013
|
Name : |
Mr. Ramadorai Subramanian |
|
Designation : |
Chairman |
|
Address : |
Flat No. 1, 1st Floor, Wyoming Little Gibbs Road, Malbar
Hill, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1944 |
|
Qualification : |
Bachelors degree
in Physics, B.E. E and TC, M.S. Computer, Attended the Sloan School of
Management's highly acclaimed Senior Executive Development Progr |
|
Date of Appointment : |
08.03.2001 |
|
DIN No.: |
00000002 |
|
|
|
|
Name : |
Mr. Patrick Raymon Mcgoldrick |
|
Designation : |
Managing director |
|
Address : |
27, Balmoral Road, #04-27, Balmoral Tower, Singapore – 259808 |
|
Date of Birth/Age : |
08.09.1949 |
|
Qualification : |
M.S. Computer, completed
the Harvard Business School Advanced Management Program (AMP 109) |
|
Date of Appointment : |
29.03.1996 |
|
PAN No.: |
AFWPM3572Q |
|
DIN No.: |
00407203 |
|
|
|
|
Name : |
Mr. Praveen Purushottam Kadle |
|
Designation : |
Director |
|
Address : |
224, NCPA Apartments, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Date of Birth/Age : |
21.01.1957 |
|
Qualification : |
Honors Graduate
in Commerce & Accountancy, C.A., C.W.A., C.S. |
|
Date of Appointment : |
04.02.1997 |
|
DIN No.: |
00016814 |
|
|
|
|
Name : |
Mr. Gopalakrishnan Ramabadran |
|
Designation : |
Director |
|
Address : |
Baug E Abbas, Flat No. 101, Captain Prakash Pethe Marg, 21/A, Cuffe
Parade, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1945 |
|
Qualification : |
B.Sc., B. Tech (Electronics) |
|
Date of Appointment : |
08.03.2001 |
|
DIN No.: |
00027858 |
|
|
|
|
Name : |
Mr. Chandrasekaran Ramakrishnan |
|
Designation : |
Director |
|
Address : |
322, Samudra Mahal, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra,
India |
|
Date of Birth/Age : |
27.06.1955 |
|
Qualification : |
B.Com., C.A., C.W.A. |
|
Date of Appointment : |
08.03.2001 |
|
DIN No.: |
00020076 |
KEY EXECUTIVES
|
Name : |
Mr. Anubhav Kapoor |
|
Designation : |
Secretary |
|
Address : |
Flat No. C-102, Concord Proxima Baner, Pune – 411048, Maharashtra,
India |
|
Date of Birth/Age : |
21.08.1972 |
|
Date of Appointment : |
05.04.2006 |
|
PAN No.: |
ADPPK1000L |
|
|
|
|
Name : |
Mr. Abhijit Saha |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 21.06.2013
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
15.81 |
|
Bodies corporate |
|
76.74 |
|
Directors or relatives of directors |
|
2.18 |
|
Other top fifty shareholders |
|
2.37 |
|
Other |
|
2.90 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Designing of Automotive Focused Engineering Goods. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
The Hong Kong and Shanghai Banking Corporation Limited, 520/60, Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie, Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company: |
Tata Motors Limited, India CIN No.: L28920MH1945PLC004520 |
|
|
|
|
Joint Venture : |
Tata Hal Technologies Limited |
|
|
|
|
Subsidiaries : |
Tata Technologies Pte. Limited Singapore |
|
|
|
|
Indirect Subsidiaries : |
· Tata Technologies Thailand Limited · INCAT International Plc. · Tata Technologies Europe Limited · INCAT SAS liquidated w.e.f. April · INCAT GmbH · Tata Technologies Inc. · Tata Technologies de Mexico A.S. de SV · Tata Technologies Canada Inc. |
|
|
|
|
Fellow subsidiaries : |
· TAL Manufacturing Solutions Limited · TML Driveline Limited · Sheba Properties Limited · Concorde Motors (India) Limited · Tata Daewoo Commercial Vehicle Company Limited · Tata Motors Insurance Broking and Advisory Services Limited · Tata Motors European Technical Centre Plc. · Tata Motors Finance Limited · Tata Marcopolo Motors Limited · Tata Motors (Thailand) Limited · TML Holdings Pte Limited · TML Distribution Company Limited · Tata Hispano Motors Carrocera S.A. · PT Tata Motors Indonesia · Tata Motors (SA) (Proprietory) Limited · Jaguar Land Rover Automotive PLC (Erstwhile Jaguar Land Rover PLC name changed w.e.f 28.12.2012 and the name changed from Jaguar Land Rover Limited on 06.04.11) · Jaguar Cars Limited (name changed from Jaguar Cars Limited on 16.05.2012 and changed again to Jaguar Cars Limited on 28.12.2012) (name changed from Jaguar Cars Overseas Holdings Limited 16.05.12 and changed to Jaguar Cars Limited on 28.12.2012) · Jaguar Land Rover Limited (Erstwhile Jaguar Cars Limited name changed w.e.f 28.12.12) · Jaguar Land Rover Austria GmbH · Jaguar Belux NV · Jaguar Land Rover Japan Limited · Jaguar cars South Africa (pty) limited · The Daimler Motor Company Limited · The Jaguar Collection Limited · Daimler Transport Vehicles Limited · S.S. Cars Limited · The Lanchester Motors Company Limited · Jaguar Hispania Sociedad · Jaguar Land Rover Deutschland GmbH · Land Rover · Land Rover Group Limited · Jaguar Land Rover North America LLC · Land Rover Belux S.A./N.V · Land Rover Ireland Limited · Jaguar Land Rover Nederland BV · Jaguar Land Rover Portugal - Veiculose Pecas LDA · Jaguar Land Rover Australia Pty Limited · Jaguar Land Rover Exports Limited · Jaguar Land Rover Italia SpA · Land Rover Espana SL · Jaguar Land Rover Korea Company Limited · Jaguar Land Rover Automotive Trading (Shanghai) Company Limited · Jaguar Land Rover Canada ULC · Jaguar Land Rover France, SAS · Jaguar Land Rover (South Africa) (Pty) Limited · Jaguar Land Rover Brazil LLC · Limited Liability Company "Jaguar Land Rover" (Russia) · Land Rover Parts Limited · Jaguar Land Rover (South Africa) Holdings Limited · Land Rover Exports Limited · Jaguar Land Rover India Limited (incorporated w.e.f October 25, 2012) · Tata Hispano Motors Carrosseries Maghreb · Tata Daewoo Commercial Vehicle Sales and Distribution Company Limited · Tata Precision Industries Pte. Limited · Trilix S.r.l. |
|
|
|
|
Associates of Parent
Company: |
· Tata Cummins Limited · Tata Precision Industries (India) Limited · Fiat India Automobiles Limited · Spark44 (JV) Limited · Jaguar Cars Finance Limited · Automobile Corporation of Goa Limited · Nita Co Limited · Cherry Jaguar Land Rover Automotive Company Limited (Incorporated November 2012) · Suzhou Chery Jaguar Land Rover Trading Company Limited (Interim JV) · Tata Hitachi Construction Machinery Company Limited (Erstwhile · Telco Construction Equipment Company Limited name changed w.e.f November 23, 2012) · Tata AutoComp Systems Limited |
|
|
·
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
700000 |
Preference Shares |
Rs.10/- each |
Rs.7.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.607.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43024138 |
Equity Shares |
Rs.10/- each |
Rs.430.241 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
430.200 |
429.700 |
373.200 |
|
(b) Reserves & Surplus |
6652.800 |
5885.600 |
4035.500 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
7083.000 |
6315.300 |
4408.700 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1.700 |
6.200 |
8.400 |
|
(b) Deferred tax liabilities (Net) |
45.600 |
37.500 |
0.000 |
|
(c) Other long term liabilities |
3.700 |
3.500 |
9.300 |
|
(d) long-term provisions |
85.500 |
70.800 |
61.700 |
|
Total Non-current
Liabilities (3) |
136.500 |
118.000 |
79.400 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
542.800 |
559.600 |
484.500 |
|
(b) Trade payables |
1264.600 |
919.100 |
790.200 |
|
(c) Other current liabilities |
76.700 |
87.000 |
69.200 |
|
(d) Short-term provisions |
811.400 |
357.200 |
227.600 |
|
Total Current
Liabilities (4) |
2695.500 |
1922.900 |
1571.500 |
|
|
|
|
|
|
TOTAL |
9915.000 |
8356.200 |
6059.600 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
598.500 |
610.100 |
463.000 |
|
(ii) Intangible Assets |
361.200 |
332.600 |
242.800 |
|
(iii) Capital work-in-progress |
136.700 |
15.400 |
13.200 |
|
(iv) Intangible assets under development |
32.900 |
34.900 |
0.000 |
|
(b) Non-current Investments |
2464.800 |
2662.300 |
2232.300 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
21.800 |
|
(d) Long-term Loan and Advances |
43.600 |
44.700 |
10.100 |
|
(e) Other Non-current assets |
133.400 |
160.500 |
237.900 |
|
Total Non-Current
Assets |
3771.100 |
3860.500 |
3221.100 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2624.600 |
1470.700 |
960.900 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
1245.900 |
913.100 |
622.200 |
|
(d) Cash and cash equivalents |
190.700 |
1149.600 |
1108.800 |
|
(e) Short-term loans and advances |
1988.400 |
500.800 |
71.400 |
|
(f) Other current assets |
94.300 |
461.500 |
75.200 |
|
Total Current
Assets |
6143.900 |
4495.700 |
2838.500 |
|
|
|
|
|
|
TOTAL |
9915.000 |
8356.200 |
6059.600 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7747.000 |
6440.000 |
4931.600 |
|
|
|
Other Income |
433.300 |
242.500 |
115.800 |
|
|
|
TOTAL (A) |
8180.300 |
6682.500 |
5047.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
830.200 |
647.000 |
564.100 |
|
|
|
Employee benefit expense |
3451.800 |
2987.500 |
2220.200 |
|
|
|
Other expenses |
991.500 |
1056.200 |
827.500 |
|
|
|
TOTAL (B) |
5273.500 |
4690.700 |
3611.800 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2906.800 |
1991.800 |
1435.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.200 |
15.400 |
16.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2890.600 |
1976.400 |
1418.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
270.200 |
211.600 |
147.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2620.400 |
1764.800 |
1271.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
608.200 |
457.700 |
300.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2012.200 |
1307.100 |
970.500 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1667.300 |
1286.200 |
936.600 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Divided |
386.900 |
380.300 |
260.900 |
|
|
|
Proposed Final Dividend |
688.400 |
296.000 |
186.400 |
|
|
|
Tax on Interim/Proposed Dividend |
174.500 |
109.700 |
73.500 |
|
|
|
General Reserve |
210.000 |
140.000 |
100.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2219.800 |
1667.300 |
1286.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2259.800 |
1798.600 |
1109.100 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
46.77 |
30.91 |
26.04 |
|
|
|
Diluted |
46.76 |
30.86 |
25.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
24.60 |
19.56 |
19.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
33.82 |
27.40 |
25.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
35.99 |
31.27 |
33.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.28 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.08 |
0.09 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.28 |
2.34 |
1.81 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs. In
Millions) |
31.03.2012 (Rs. In
Millions) |
31.03.2011 (Rs. In
Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
3.700 |
4.300 |
3.200 |
|
|
|
|
|
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOAN
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Term loans from banks |
542.800 |
559.600 |
|
Total |
542.800 |
559.600 |
REVIEW OF
BUSINESS OPERATIONS
The Company recorded an overall revenue growth of approximately 22.41% with an increase of approximately 20.30% in revenue from sale of products and services, from Rs. 6440.000 Millions in 2011-12 to Rs. 7747.000 Millions in 2012-13. Due to efficient cost management, increased focus on operating efficiencies and offshoring, the operating profit registered an increase of approximately 45.94% over the last year, while profit before taxes (PBT), grew at a rate of approximately 48.48% on a year-on-year basis. Profit after taxes (PAT) grew by approximately 53.94% during the same period.
During the period, services revenue increased by 19.38% and product sale increased by 26.61% over last year to reach figures of Rs. 6715.400 Millions and Rs. 1031.600 Millions respectively. The services revenue comprises:
1. Engineering Automation Group [EAG]:
EAG addresses the engineering and design needs of manufacturers through services for all stages of the product development and manufacturing process.
2. Enterprise Solutions Group [ESG]:
ESG addresses the Information Technology needs of manufacturers including business solutions, strategic consulting, ERP implementation, systems integration, IT networking and infrastructure solutions and program management.
3. Product Lifecycle Management [PLM]:
PLM addresses the product development technology solution requirements of manufacturers including end-to-end implementation of PLM technology, best practices and PLM consulting. PLM also includes the Company's proprietary applications iGETIT® and iCHECKIT®.
BUSINESS OUTLOOK
The Company is highly focused on delivery of value to its customers, marketing and sales and as such, it is seeing improved order bookings. The Company expects improved growth in revenue, EBITDA and profit after tax in the coming years. Please refer the section on Management Discussion and Analysis for more information.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Leasehold Improvements
Intangible Assets
· Goodwill
· Copyrights
· Licenses and Franchise
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
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 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.