MIRA
INFORM REPORT
|
Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
TVS SRICHAKRA LIMITED |
|
|
|
|
Registered
Office : |
TVS Building, 7-B, |
|
|
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|
Country : |
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|
Financials (as
on) : |
31.03.2014 |
|
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|
Date of
Incorporation : |
02.06.1982 |
|
|
|
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Com. Reg. No.: |
18-009414 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.76.570 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L25111TN1982PLC009414 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRIS00086C |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Seller Two Wheeler, Three Wheeler,
Industrial, Agricultural and Farm Tyres as well as knobs for direct
application. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8100000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. Financial position of the company seems to be sound. Trade relation are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitments. The company can be considered normal for business dealing 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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund manager
Jim Chanos has been keenly following the political and economic development in
the dragon economy and has figured out something that is quite worrying. He is
of the view that the Chinese economy could be heading toward trouble on account
of new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period with
an annualized return of 20 % ! Equities came in second with annualized return
of 15.5 % ! However, while these returns may seem mouthwatering, the fact is
that the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
IND-RA |
|
Rating |
Long Term Issues Rating = A- |
|
Rating Explanation |
Have adequate degree of safety and carry low credit risk |
|
Date |
25.04.2013 |
|
Rating Agency Name |
IND-RA |
|
Rating |
Short Term Debt Rating = A1+ |
|
Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
|
Date |
25.04.2013 |
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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Shankar |
|
Designation : |
Finance Head |
|
Contact No.: |
91-452-2532116 |
|
Date : |
05.08.2014 |
LOCATIONS
|
Registered Office : |
TVS Building, 7-B, West Veli Street, Madurai – 625001, Tamilnadu, India |
|
Tel. No.: |
91-452-2420461/
462/ 464/ 465 |
|
Fax No.: |
91-452-2420266 |
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E-Mail : |
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Website : |
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Administrative
Office : |
10, Jawahar
Road, Madurai – 625002, Tamilnadu, India |
|
Tel. No.: |
91-452-2420461 (8 lines) |
|
Fax No.: |
91-452-2420266 |
|
E-Mail : |
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|
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Factory 1 : |
Vellaripatti
Village, Melur Taluk, District Madurai – 625122, Tamilnadu, India |
|
|
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Factory 2 : |
Narasingampatti
Village, Therkutheru, Melur Taluk, District Madurai – 625122, Tamilnadu,
India |
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|
Factory 3 : |
Plot No. 7, Sector 1, Integrated Industrial Estate, Sidcul, Pant Nagar, Rudrapur, Tehsil-Kichha, District Udham Singh Nagar - 263153, Uttrakhand, India. |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. S. Narayanan |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. R. Naresh |
|
Designation : |
Executive Vice Chairman |
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|
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|
Name : |
Ms. Shobhana Ramachandhran |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. M. S. Viraraghavan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. N. H.
Atthreya |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sitaram Rao
Valluri |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. P.
Vijayaraghavan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. H. Janardana
Iyer |
|
Designation : |
Director |
KEY EXECUTIVES
|
Audit
Committee : |
Mr. M. S. Viraraghavan Chairman Mr. N. H.
Atthreya Mr. Sitaram Rao
Valluri Mr. P.
Vijayaraghavan Mr. H. Janardana
Iyer |
|
|
|
|
Shareholders/Investors
Committee |
Mr. S. Narayanan Chairman Mr. Shobhana
Ramachandran Mr. P. Vijayaraghavan |
|
|
|
|
Name : |
Mr. L.R.
Subramanian |
|
Designation : |
Company Secretary
|
|
|
|
|
Name : |
Mr. Shankara |
|
Designation : |
Assistant General Manager |
|
|
|
|
Name : |
Mr. Shankar |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
554017 |
7.24 |
|
|
2994544 |
39.11 |
|
|
3548561 |
46.34 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
3548561 |
46.34 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
871 |
0.01 |
|
|
4761 |
0.06 |
|
|
94 |
0.00 |
|
|
1400 |
0.02 |
|
|
7126 |
0.09 |
|
|
|
|
|
|
620399 |
8.10 |
|
|
|
|
|
|
2764507 |
36.10 |
|
|
686742 |
8.97 |
|
|
29715 |
0.39 |
|
|
4083 |
0.05 |
|
|
25632 |
0.33 |
|
|
4101363 |
53.56 |
|
Total Public shareholding (B) |
4108489 |
53.66 |
|
Total (A)+(B) |
7657050 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
7657050 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller Two Wheeler, Three Wheeler,
Industrial, Agricultural and Farm Tyres as well as knobs for direct
application. |
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|
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|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Automotive Tyres |
Nos (‘000) |
33000 |
32953 |
15728 |
|
Automotive Tubes |
Nos (‘000) |
33000 |
30850 |
17345 |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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|
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Bankers : |
· State Bank of India, West Veli Street, Madurai – 625001, Tamilnadu, India · DBS Bank Limited, 806, Anna Salai, Chennai – 600002, Tamilnadu, India · The Karur Vysya Bank Limited, No.159, South Masi Street, Madurai – 625001, Tamilnadu, India |
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Facilities : |
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|
Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Sundaram and
Srinivasan Chartered
Accountants |
|
Address : |
New No. 250, P T Rajan Road, Madurai – 625014 Tamilnadu,
India |
|
|
|
|
Subsidiaries : (As on 31.03.2013) |
·
TVS Srichakra Investments Limited ·
TVS Europe Distribution Limited |
|
|
|
|
Associates : (As on 31.03.2013) |
·
T V Sundram Iyengar and Sons Limited ·
TVS Telecom Components Limited ·
ZF Electronics TVS ( ·
Van Leeuwen Tyres and Wheels B.V., |
|
|
|
|
Enterprises with common Key management personnel (As on 31.03.2013) |
·
Sundaram Industries Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.76.570
Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7657050 |
Equity Shares |
Rs.10/- each |
Rs.76.570
Millions |
|
|
|
|
|
|
Particulars |
Equity Shares |
|
|
|
No. of Shares |
Rs. In Millions |
|
|
|
|
|
Shares outstanding at the beginning of the
year |
7657050 |
76.570 |
|
Shares Issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
7657050 |
76.570 |
Other Information
Equity Shareholders holding more than 5% of the
total Share capital of the Company
|
Capital of the Company |
31.03.2013 |
|
T V Sundram Iyengar and Sons Limited |
27.73% |
|
Sundaram Industries Limited |
9.79% |
Rights, preferences and restrictions attached to
shares –
Equity shares - The
Company has one class of equity share having a par value of Rs. 10/- each. Each
shareholder is eligible for one vote per share held. The dividend proposed by
the Board of Directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting, except in case of interim dividend. Each
shareholder also has a residual interest in the assets of the Company in
proportion to their shareholding.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
76.570 |
76.570 |
76.570 |
|
(b) Reserves & Surplus |
1959.894 |
1628.764 |
1339.178 |
|
(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) |
2036.464 |
1705.334 |
1415.748 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1128.625 |
1070.540 |
1345.176 |
|
(b) Deferred tax liabilities (Net) |
218.638 |
227.783 |
129.742 |
|
(c) Other long term liabilities |
96.541 |
286.510 |
127.418 |
|
(d) long-term provisions |
23.169 |
22.675 |
14.843 |
|
Total Non-current Liabilities (3) |
1466.973 |
1607.508 |
1617.179 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1521.303 |
1152.922 |
1685.143 |
|
(b) Trade payables |
2157.006 |
3177.826 |
2430.198 |
|
(c) Other current
liabilities |
438.691 |
158.599 |
372.567 |
|
(d) Short-term provisions |
765.469 |
385.246 |
411.790 |
|
Total Current Liabilities (4) |
4882.469 |
4874.593 |
4899.698 |
|
|
|
|
|
|
TOTAL |
8385.906 |
8187.435 |
7932.625 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2497.736 |
1825.944 |
1736.844 |
|
(ii) Intangible Assets |
|
28.204 |
34.140 |
|
(iii) Capital
work-in-progress |
|
295.850 |
216.315 |
|
(iv)
Intangible assets under development |
|
14.303 |
0.000 |
|
(b) Non-current Investments |
192.573 |
192.818 |
198.176 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
525.447 |
499.278 |
369.499 |
|
(e) Other Non-current assets |
124.561 |
81.619 |
0.000 |
|
Total Non-Current Assets |
3340.317 |
2938.016 |
2554.974 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2066.515 |
2531.714 |
3003.317 |
|
(c) Trade receivables |
2663.759 |
1864.312 |
1895.532 |
|
(d) Cash and cash
equivalents |
79.394 |
448.876 |
56.132 |
|
(e) Short-term loans and
advances |
235.921 |
404.517 |
422.670 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
5045.589 |
5249.419 |
5377.651 |
|
|
|
|
|
|
TOTAL |
8385.906 |
8187.435 |
7932.625 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16709.909 |
14761.035 |
14033.234 |
|
|
|
Other Income |
13.882 |
437.878 |
59.720 |
|
|
|
TOTAL (A) |
16723.791 |
15198.913 |
14092.954 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
10860.070 |
9717.081 |
9672.159 |
|
|
|
Purchases of Stock-in-Trade |
35.021 |
16.619 |
4.086 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
147.255 |
376.771 |
(240.659) |
|
|
|
Employees benefits expense |
1248.830 |
1129.965 |
962.402 |
|
|
|
Other expenses |
3194.317 |
2671.736 |
2386.192 |
|
|
|
TOTAL (B) |
15485.493 |
13912.172 |
12784.180 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
1238.298 |
1286.741 |
1308.774 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
442.341 |
571.863 |
553.310 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
795.957 |
714.878 |
755.464 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
236.744 |
242.199 |
207.946 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
559.213 |
472.679 |
547.518 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
84.749 |
115.905 |
150.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
474.464 |
356.774 |
397.518 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1352.667 |
1099.081 |
861.702 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
36.000 |
40.000 |
|
|
|
Proposed Dividend |
NA |
57.428 |
103.370 |
|
|
|
Tax on Distribution of Dividend |
NA |
9.760 |
16.769 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1352.667 |
1099.081 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B value of goods exported |
NA |
1969.496 |
1700.640 |
|
|
|
Interest |
NA |
4.250 |
2.589 |
|
|
TOTAL EARNINGS |
NA |
1973.746 |
1703.229 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
2875.190 |
3564.417 |
|
|
|
Spares |
NA |
1.902 |
0.000 |
|
|
|
Capital Goods |
NA |
51.666 |
14.079 |
|
|
TOTAL IMPORTS |
NA |
2928.758 |
3578.496 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
61.96 |
46.59 |
51.92 |
|
Note:
1. The holding company is engaged in segment of manufacture of tyres and tubes and the foreign subsidiary is engaged in trading in auto components.
2. The consolidated results of the company include the consolidated results of TVS Srichakra Investments Limited, TVS Europe Distribution Limited and its subsidiary Universal Components (UK) Limited.
3. The above audited Financial Results were reviewed by the audit committee, approved by the Board of Directors on May 24, 2014.
4. Figures for the corresponding previous period has been recast / regrouped, wherever necessary, to make them comparable.
5. A Dividend of Rs.16/- Per share (160%) has been recommended by the Board of Directors at their meeting held on May 24, 2014.
6. The figures of the last quarter are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.84 |
2.35 |
2.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.35 |
3.20 |
3.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.83 |
6.15 |
7.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.28 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.30 |
1.30 |
2.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
1.08 |
1.10 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
76.570 |
76.570 |
76.570 |
|
Reserves & Surplus |
1339.178 |
1628.764 |
1959.894 |
|
Net
worth |
1415.748 |
1705.334 |
2036.464 |
|
|
|
|
|
|
long-term borrowings |
1345.176 |
1070.540 |
1128.625 |
|
Short term borrowings |
1685.143 |
1152.922 |
1521.303 |
|
Total
borrowings |
3030.319 |
2223.462 |
2649.928 |
|
Debt/Equity
ratio |
2.140 |
1.304 |
1.301 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
14033.234 |
14761.035 |
16709.909 |
|
|
|
5.186 |
13.203 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
14033.234 |
14761.035 |
16709.909 |
|
Profit |
397.518 |
356.774 |
474.464 |
|
|
2.83% |
2.42% |
2.84% |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10419483 |
26/03/2013 |
738,000,000.00 |
DBS BANK LIMITED |
806, ANNA SALAI, CHENNAI - 600002, TAMILNADU, INDIA |
B73096141 |
|
2 |
10276620 |
16/03/2011 |
240,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
SOUTH MASI STREET BRANCH, NO.159 SOUTH MASI STREET, MADURAI - 625001, TAMILNADU, INDIA |
B09504010 |
|
3 |
10244244 |
27/09/2010 |
30,044,408.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A96598008 |
|
4 |
10236958 |
23/06/2010 |
47,457,394.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A91100404 |
|
5 |
10212458 |
25/03/2010 |
36,083,340.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A83241273 |
|
6 |
10204057 |
26/02/2010 |
30,840,186.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A80063357 |
|
7 |
10203605 |
16/02/2010 |
29,214,841.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A79896858 |
|
8 |
10195937 |
30/12/2009 |
66,707,450.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A77288140 |
|
9 |
90299796 |
02/08/1988 |
2,800,000.00 |
STATE BANK OF INDIA |
WEST VELI STREET, MADURAI - 625001, TAMILNADU, INDIA |
- |
|
10 |
90287155 |
24/05/2013 * |
5,096,600,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 6A WEST VELI STREET, MADURAI - 625001, TAMILNADU, INDIA |
B77669729 |
|
11 |
90299426 |
21/09/1983 |
2,400,000.00 |
STATE BANK OF INDIA |
WEST VELI STREET, MADURAI - 625001, TAMILNADU, INDIA |
- |
|
12 |
90299392 |
18/03/1983 |
2,400,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORPOTN OF INDIA LIMITED |
163;BACKBAY RECLAMATION, BOMBAY - 400020, MAHARASHTRA, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
|
a) Estimated amount of contracts
remaining to be executed on capital account |
105.705 |
|
b) On Letters of Credit opened by Company’s
Bankers |
380.139 |
|
c) Excise Duty under Dispute |
20.213 |
|
d) Sales Tax under Dispute |
1.312 |
|
e) Customs duty on goods lying at Bonded
Warehouse |
14.560 |
|
f) Guarantee given to bank for loan taken by
a subsidiary (GBP 610000) |
0.000 |
FIXED ASSETS
Tangible Assets
·
Land – Leasehold
·
Land – Freehold
·
Buildings
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Other (Electrical)
Intangible Assets
·
Computer Software
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. |
|
|
1 |
Rs. |
|
Euro |
1 |
Rs. |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.