MIRA INFORM REPORT
|
Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRACTORS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1, Taratolla Road, Garden Reach, Kolkata-700 024, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
30.06.1995 |
|
|
|
|
Com. Reg. No.: |
21-072501 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 45.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29150WB1995PTC072501 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALT05207G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT1656K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged is in a dealership business of Caterpillar products and its business
segments are as follows: - Construction
and Mining Solutions (CMS) - engaged as a dealer for Caterpillar Inc. USA for
their earthmoving, construction mining equipment’s, spares etc. and providing
related services in Eastern and Northern India and Bhutan. - Power Systems
Solutions (PSS) - engaged in assembly, supply, erection and commissioning of
Generating Sets powered by Caterpillar engines and dealing in spares etc and
providing related services in Eastern and Northern India and Bhutan. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There is a dip in sales and profit of the company in the year 2013. However,
net worth of the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. In view of long standing experience of promoters and established track
record in dealership business, the subject can be considered normal 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended September
2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9
billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and
moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities: “A-” |
|
Rating Explanation |
Adequate degree of safety regarding timely servicing at financial
obligations. |
|
Date |
08.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
(Short Term Bank Facilities): “A2+” |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
08.01.2014 |
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
MANGAEMENT NON-COOPERATIVE (Tel. No. : 91-33-24693732)
LOCATIONS
|
Registered Office : |
1, Taratolla Road, Garden Reach, Kolkata-700 024, West Bengal, India |
|
Tel No: |
91-33-24694371/24693732 |
|
Fax No.: |
91-33-24693761/24693731 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office: |
30 Branches all over India |
DIRECTORS
As on 30.07.2012
|
Name : |
Mr. Aloke Banerjee |
|
Designation : |
Directors |
|
Address : |
Flat No. 3A, 28 Shymananda Road, Kolkata- 700 025, West Bengal, India |
|
Date of Birth/Age : |
01.12.1954 |
|
Date of Appointment : |
30.01.1999 |
|
DIN No.: |
00609491 |
|
|
|
|
Name : |
Mr. Sumit Mazumdar |
|
Designation : |
Managing Director |
|
Address : |
5 A and B, Arjun Enclave, 12 C Judges Court Road, Kolkata-700027, West
Bengal, India |
|
Date of Birth/Age : |
11.02.1948 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00116654 |
|
|
|
|
Name : |
Mr. Venkata Ramana Murthy Garigipati |
|
Designation : |
Whole Time Director |
|
Address : |
C-8/8194, Vasant Kunj, New Delhi-110070, India |
|
Date of Birth/Age : |
29.05.1957 |
|
Date of Appointment : |
01.04.2010 |
|
Date of Cessation : |
06.11.2012 |
|
DIN No.: |
02563864 |
|
|
|
|
Name : |
Mr. Tridibesh Mukherjee |
|
Designation : |
Director |
|
Address : |
Northern Town, Jamshedpur-831001, Jharkhand, India |
|
Date of Birth/Age : |
13.10.1942 |
|
Date of Appointment : |
30.03.2010 |
|
DIN No.: |
00004777 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.07.2012
|
Names of Shareholders |
No. of Shares |
|
TIL Limited, India |
4499980 |
|
Avijit Mazumdar |
10 |
|
Sumit Mazumdar |
10 |
|
TOTAL
|
4500000 |
As on 30.07.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Bodies corporate |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged is in a dealership business of Caterpillar products and its business
segments are as follows: - Construction
and Mining Solutions (CMS) - engaged as a dealer for Caterpillar Inc. USA for
their earthmoving, construction mining equipment’s, spares etc. and providing
related services in Eastern and Northern India and Bhutan. - Power Systems Solutions (PSS) - engaged in assembly, supply,
erection and commissioning of Generating Sets powered by Caterpillar engines
and dealing in spares etc and providing related services in Eastern and
Northern India and Bhutan. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· HDFC Bank Limited, HDFC Bank House, 3A, Gurusaday Road, Kolkata-700019, West Bengal, India · State Bank of India, Industrial Finance Branch, Kolkata, 11, Dr. U N Brahmachari Street, Kolkata - 700017, West Bengal, India · Bank of India (Lead Bank), Kolkata Large Corporate Branch, 5 B T M Sarani, Kolkata - 700001, West Bengal, India · Union Bank of India · ING Vysya Bank Limited, 4/1, Middleton Street, Sikkim House, Kolkata - 700071, West Bengal, India · State Bank of Bikaner and Jaipur, Ballygunge Branch, 204, Rashbehari Avenue, Kolkata - 700029, West Bengal, India · State Bank of Hyderabad · Axis Bank Limited, Corporate Banking Branch, 1, Shakespeare Sarani, AC Market, 3rd Floor, Kolkata - 700071, West Bengal, India · DBS Bank Limited, Kolkata Branch, 4A, Nandalal Bansu Sarani, Kolkata - 700071, West Bengal, India · Citi Bank N.A. |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Plot No.Y-14, Block EP, Sector V, Salt Lake Electronics Complex, Bidhan
Nagar, Kolkata - 700091, West Bengal, India
|
|
PAN No.: |
AAFFP3698A |
|
|
|
|
Holding Company : |
TIL Limited, India CIN No.: L74999WB1974PLC041725 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
45.000 |
45.000 |
45.000 |
|
(b) Reserves & Surplus |
1165.700 |
1139.700 |
1104.000 |
|
(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) |
1210.700 |
1184.700 |
1149.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
158.100 |
205.100 |
110.600 |
|
(b) Deferred tax liabilities (Net) |
48.800 |
43.100 |
42.700 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
37.600 |
30.800 |
17.500 |
|
Total Non-current
Liabilities (3) |
244.500 |
279.000 |
170.800 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2709.100 |
2550.200 |
1728.100 |
|
(b) Trade
payables |
772.900 |
807.100 |
1221.800 |
|
(c) Other
current liabilities |
335.000 |
348.700 |
348.200 |
|
(d) Short-term
provisions |
1.400 |
6.000 |
107.300 |
|
Total Current
Liabilities (4) |
3818.400 |
3712.000 |
3405.400 |
|
|
|
|
|
|
TOTAL |
5273.600 |
5175.700 |
4725.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
971.000 |
1002.700 |
824.300 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
38.300 |
0.000 |
7.900 |
|
(iv)
Intangible assets under development |
123.400 |
70.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
10.100 |
7.200 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1142.800 |
1079.900 |
832.200 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2035.400 |
2083.500 |
2335.100 |
|
(c) Trade
receivables |
1607.200 |
1611.600 |
1329.900 |
|
(d) Cash
and cash equivalents |
12.200 |
9.800 |
0.600 |
|
(e)
Short-term loans and advances |
459.800 |
379.100 |
227.400 |
|
(f) Other current
assets |
16.200 |
11.800 |
0.000 |
|
Total
Current Assets |
4130.800 |
4095.800 |
3893.000 |
|
|
|
|
|
|
TOTAL |
5273.600 |
5175.700 |
4725.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
8829.800 |
10399.600 |
91110.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
8223.300 |
9852.500 |
90453.600 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
606.500 |
547.100 |
656.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
388.700 |
347.300 |
177.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
217.800 |
199.800 |
479.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
177.500 |
158.000 |
141.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
40.300 |
41.800 |
338.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.300 |
6.100 |
147.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
26.000 |
35.700 |
190.600 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
26.000 |
35.700 |
190.600 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.78 |
7.93 |
42.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.29
|
0.34 |
0.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.79 |
0.82 |
7.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.04 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.37 |
2.33 |
1.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.10 |
1.14 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
45.000 |
45.000 |
45.000 |
|
Reserves & Surplus |
1104.000 |
1139.700 |
1165.700 |
|
Net
worth |
1149.000 |
1184.700 |
1210.700 |
|
|
|
|
|
|
long-term borrowings |
110.600 |
205.100 |
158.100 |
|
Short term borrowings |
1728.100 |
2550.200 |
2709.100 |
|
Total
borrowings |
1838.700 |
2755.300 |
2867.200 |
|
Debt/Equity
ratio |
1.600 |
2.326 |
2.368 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
91110.000 |
10399.600 |
8829.800 |
|
|
|
-88.586 |
-15.095 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
91110.000 |
10399.600 |
8829.800 |
|
Profit |
190.600 |
35.700 |
26.000 |
|
|
0.21% |
0.34% |
0.29% |
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 |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S. NO |
CHARGE ID |
DATE OF CHARGE
CREATION /MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN |
|
1 |
10394999 |
14/11/2012 |
90,000,000.00 |
ING VYSYA BANK
LIMITED |
4/1,MIDDLETON
STREET, SIKKIM HOUSE, KOLKATA - 700071, WEST BENGAL, INDIA |
B65179624 |
|
2 |
10333689 |
26/12/2011 |
580,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U.N.
BRAHMACHARI STREET, KOLKATA - 700017, WEST BENGAL, INDIA |
B31301997 |
|
3 |
10327964 |
07/12/2011 |
150,000,000.00 |
HDFC BANK
LIMITED |
BANK HOUSE, 3A, GURUSADAY
ROAD, KOLKATA - 700019, WEST BENGAL, INDIA |
B29429479 |
|
4 |
10327933 |
16/11/2011 |
200,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013,
INDIA |
B29419637 |
|
5 |
10310537 |
12/09/2011 |
130,000,000.00 |
DBS BANK LIMITED |
KOLKATA BRANCH,
4A, NANDALAL BASU SARANI, KOLKATA - 700071, WEST BENGAL, INDIA |
B22692321 |
|
6 |
10301915 |
01/08/2011 |
270,000,000.00 |
STATE BANK OF
HYDERABAD |
COMMERCIAL BRANCH,
83, TOPSIA ROAD, KOLKATA - 700046, WEST |
B18591362 |
|
7 |
10306595 |
28/07/2011 * |
1,000,000,000.00 |
BANK OF INDIA |
KOLKATA BRANCH,
4A, NANDALAL BASU SARANI, KOLKATA - 700071, WEST BENGAL, INDIA |
B21123161 |
|
8 |
10301865 |
22/07/2011 |
200,000,000.00 |
STATE BANK OF
HYDERABAD |
COMMERCIAL
BRANCH, 83, TOPSIA ROAD, KOLKATA - 700046, WEST |
B18688085 |
|
9 |
10276479 |
24/03/2011 |
200,000,000.00 |
STATE BANK OF
HYDERABAD |
COMMERCIAL
BRANCH, 83 TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA |
B09436759 |
|
10 |
10279226 |
18/03/2011 |
100,000,000.00 |
ING VYSYA BANK
LIMITED |
4/1, MIDDLETON
STREET, SIKKIM HOUSE, KOLKATA - 700071, WEST BENGAL, INDIA |
B10224343 |
|
11 |
10272698 |
31/07/2013 * |
4,360,000,000.00 |
BANK OF INDIA
(LEAD BANK) |
KOLKATA LARGE
CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B82966904 |
|
12 |
10256965 |
07/12/2010 |
160,000,000.00 |
AXIS BANK
LIMITED |
CREDIT MANAGEMENT
CENTRE (CMC), 1, SHAKESPEARE S |
B02361251 |
|
13 |
10248996 |
23/09/2011 * |
330,000,000.00 |
AXIS BANK
LIMITED |
CORPORATE BANKING
BRANCH (CBB), 1, SHAKESPEARE SARANI, AC MARKET, 3RD FLOOR, KOLKATA - 700071,
WEST BENGAL, INDIA |
B25170481 |
|
14 |
10238733 |
02/08/2011 * |
460,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
BALLYGUNGE BRANCH,
204, RASHBEHARI AVENUE, KOLKATA - 700029, WEST BENGAL, INDIA |
B19512003 |
|
15 |
10229519 |
30/06/2010 |
728,000,000.00 |
BANK OF INDIA |
KOLKATA MAIN
BRANCH, 23A, NETAJI SUBHAS ROAD, KOLKATA - 700001, WEST BENGAL, INDIA |
A90107657 |
|
16 |
10228820 |
28/06/2010 |
360,600,000.00 |
UNION BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 1/1, CAMAC STREET, 1ST |
A89853725 |
|
17 |
10227033 |
28/07/2011 * |
500,000,000.00 |
ING VYSYA BANK
LIMITED |
4/1,MIDDLETON STREET,
SIKKIM HOUSE, KOLKATA - 700071, WEST BENGAL, INDIA |
B18336982 |
* Date of charge modification
UNSECURED
LOANS
|
Particular |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loans from Others |
34.600 |
12.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans Repayable on demand |
130.200 |
0.000 |
|
Term Loans From Banks |
0.000 |
1201.200 |
|
|
|
|
|
TOTAL |
164.800 |
1213.200 |
GENERAL
INFORMATION
The Company is a
wholly owned subsidiary of TIL Limited. The Company is in a dealership business
of Caterpillar products and its business segments are as follows:
- Construction and
Mining Solutions (CMS) - engaged as a dealer for Caterpillar Inc. USA for their
earthmoving, construction mining equipment’s, spares etc. and providing related
services in Eastern and Northern India and Bhutan.
- Power Systems
Solutions (PSS) - engaged in assembly, supply, erection and commissioning of
Generating Sets powered by Caterpillar engines and dealing in spares etc and
providing related services in Eastern and Northern India and Bhutan.
PERFORMANCE
The Company
achieved a turnover including income from operations and other income of Rs.
8829.800 Millions compared to Rs.10399.600 Millions in the previous year.
Profit before tax stood at Rs. 40.300 Millions compared to Rs. 41.800 Millions
in the previous year.
FINANCE
Reserves and
Surplus of the Company increased from Rs. 1139.700 Millions to Rs. 1165.700
Millions and the Shareholders Funds increased from Rs. 1184.700 Millions to Rs.
1210.700 Millions.
FIXED ASSETS
·
Leasehold Land
·
Building
·
Furniture and Fixtures
·
Motor Vehicles and Motor Cycle
·
Plant and Machinery
PRESS RELEASE
TRACTORS INDIA TO TRAIN YOUTHS WHO GAVE UP LAND
KOLKATA, MARCH 30:
Tata
Motors have relocated the Nano project from Bengal. Interestingly, the Rs.1 lakh-car
initiative of the company to create jobs is now a model for industrialists in
the State.
Suffering
from a shortage of skilled welders and fitters, the Rs 1,400-crore
Kolkata-headquartered Tractors India LIMITED (TIL) has tied up with Industrial
Training Institutes to offer paid training programmes, laced with monthly
stipend, for local youth from families that gave up their lands. Plans are also
afoot to open a training centre at a 10-acre plot near Kharagpur.
Tractors
India's Rs 300-crore greenfield expansion projects — for manufacturing port and
yard equipment, Reachstackers, cranes and coal-handling equipment — in
Kharagpur is the only investment that the Ms Mamata Banerjee regime has seen in
Bengal so far.
PROGRAMME
The
company will train 89 youths in the first batch from villages near its Changual
and Vidyasagar units (both at Kharagpur, nearly 100 km from Kolkata). Of these,
48 will be for the fitters' trade while 41 will be welders. Training will be
open for family members whose land was acquired by the company for setting up
its units.
“The
trained youths will be employed by TIL on the basis of available vacancies, at
the moment. However, as the scale of operations increase, employment
opportunities will increase,” Mr. Sumit Mazumder, Vice-Chairman and Managing
Director, Tractors India said
According
to Mr. Mazumder, the programme will benefit both the company and local youths.
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. 60.10 |
|
UK Pound |
1 |
Rs. 99.85 |
|
Euro |
1 |
Rs. 82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.