MIRA
INFORM REPORT
|
Report Date : |
28.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
T.V. SUNDRAM IYENGAR AND SONS LIMITED |
|
|
|
|
Registered
Office : |
TVS Building, |
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|
Country : |
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|
|
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Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.10.1929 |
|
|
|
|
Com. Reg. No.: |
18-002973 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.114.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34101TN1929PLC002973 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT0159K |
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|
Legal Form : |
A Closely held Public Limited Liability Company |
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Line of Business
: |
Dealers in Automobile
Vehicles, Spare Parts and Accessories and Petroleum Products/ Lubricants. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 13300000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. There is a dip in profit of the company in the year 2013. However, fundamentals
of the company is decent. Overall financial position of the company is strong
and healthy. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and January
of 2013/14 which has seen some signs of recovery according to a Care Ratings
report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Commercial Paper=A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
March, 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 DENIED
Management Non Co-operative (91-44-28349650)
LOCATIONS
|
Registered Office : |
TVS Building, West Veli Street, Madurai – 625001, Tamil Nadu, India |
|
Tel. No.: |
91-452-4356400 |
|
Fax No.: |
91-452-2341587 |
|
E-Mail : |
tvsco@tvssons.com b.ganapathisarma@tvssons.com |
|
Website : |
http://www.tvsiyengar.com |
|
|
|
|
Chennai Office : |
58, |
|
Tel. No.: |
91-44-66793222 91-44-28349650 |
|
Fax No.: |
91-44-66793035 |
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|
|
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TVS Division: |
Madurai, Tirunelveli, Tiruchirapalli, Pudukottai, Salem, Coimbatore,
Dharmapuri, Villupuram, Namakkal, Thiruvananthapuram, Ernakulam, Kottayam,
Kannur, Kozhikode, Kollam, Palakkad, Thrissur, Malappuram, Pondicherry,
Indore, Bhopal, Rewa, Ratlam, Gwalior, Raipur, Jabalpur, Kanpur, Lucknow,
Bareilly, Haldwani, Meerut and `Bangalore. |
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|
|
|
Sundaram Motors Division: |
Chennai, Poonamallee, Vellore, Bangalore, Shimoga, Mysore, Mangalore,
Hubli, Gulbarga, Belgaum, Bellary, Yeshwantpur, Secunderabad, Visakhapatnam,
Vijayawada, Nellore, Kakinada, Cuddapah, Hyderabad, Pondicherry, Ponda (Goa),
Kolhapur, Pune, Mumbai, Nagpur, Cuttack, Berhampur and Ahmedabad. |
|
|
|
|
Madras Auto Services Division: |
Chennai, Salem, Coimbatore, Erode, Vellore, Tiruchirapalli, Bangalore,
Shimoga, Mysore, Hubli, Mangalore, Bellary, Belagum, Margoa, Visakhapatnam,
Kurnool, Nellore, Hyderabad, Rajahmundry, Ernakulam, Kottayam, Kannur,
Kozhikode, Thrissur, Kolhapur, Pune, Nagpur, Aurangabad, Bhopal, Raipur and
Indore. |
DIRECTORS
AS ON 29.11.2013
|
Name : |
Mr. Suresh Krishna |
|
Designation : |
Director |
|
Address : |
79, |
|
Date of Birth/Age : |
24.12.1936 |
|
Date of Appointment : |
25.12.1970 |
|
DIN No.: |
00046919 |
|
|
|
|
Name : |
Mr. Krishna Ramesh |
|
Designation : |
Director |
|
Address : |
No. 18, Jawahar Raod, Chkkikulam, |
|
Date of Birth/Age : |
17.02.1939 |
|
Date of Appointment : |
25.12.1970 |
|
DIN No.: |
00556922 |
|
|
|
|
Name : |
Mr. Santhanam Ram |
|
Designation : |
Director |
|
Address : |
Old No. 29, New No. 57, |
|
Date of Birth/Age : |
27.04.1940 |
|
Date of Appointment : |
25.12.1970 |
|
DIN No.: |
00018309 |
|
|
|
|
Name : |
Mr. Krishna Mahesh |
|
Designation : |
Whole-time Director |
|
Address : |
New no. 81, old No. 39, First Main Road, Raja Annamali
Puram, Chennai – 600 028, Tamilnadu, India |
|
Date of Birth/Age : |
11.10.1943 |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
00051438 |
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|
|
|
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|
Name : |
Mr. Santhanam Viji |
|
Designation : |
Director |
|
Address : |
Old No. 33, New No. 71, |
|
Date of Birth/Age : |
07.06.1946 |
|
Date of Appointment : |
30.08.1976 |
|
DIN No.: |
00139043 |
|
|
|
|
Name : |
Mr. Venu Srinivasan |
|
Designation : |
Director |
|
Address : |
|
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Date of Birth/Age : |
11.12.1952 |
|
Date of Appointment : |
29.06.1979 |
|
DIN No.: |
00051523 |
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|
|
|
Name : |
Mr. Gopal Srinivasan |
|
Designation : |
Director |
|
Address : |
West Side House, |
|
Date of Appointment : |
31.08.1979 |
|
DIN No.: |
00177699 |
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|
|
|
Name : |
Mr. Balaji Kumara Thirumala |
|
Designation : |
Director |
|
Address : |
34 Poes Garden, Chennai – 600 086, |
|
Date of Birth/Age : |
12.07.1948 |
|
Date of Appointment : |
31.08.1979 |
|
DIN No.: |
00002010 |
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|
|
|
Name : |
Mr. Haresh Ramachandhran |
|
Designation : |
Managing Director |
|
Address : |
|
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Date of Birth/Age : |
29.11.1954 |
|
Date of Appointment : |
23.09.2010 |
|
DIN No.: |
00363096 |
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|
|
Name : |
Mr. Ramchandran Dinesh |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
25.02.1965 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00363300 |
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|
|
|
Name : |
Mr. Srinath Ratnam Rajam |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
30.01.1957 |
|
Date of Appointment : |
16.06.2005 |
|
DIN No.: |
00054758 |
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|
|
|
Name : |
Mr. Srivats Ram |
|
Designation : |
Director |
|
Address : |
Old No. 29, New No. 57, |
|
Date of Birth/Age : |
20.02.1970 |
|
Date of Appointment : |
16.06.2005 |
|
DIN No.: |
00063415 |
KEY EXECUTIVES
|
Name : |
Mr. Balasubramanian Iyer Ganapathi Sharma |
|
Designation : |
Company Secretary |
|
Address : |
TVS Building 7B |
|
Date of Birth/Age : |
24.08.1935 |
|
Date of Appointment : |
15.01.1986 |
|
PAN No.: |
ACKPG3871B |
MAJOR SHAREHOLDERS
AS ON 29.11.2013
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 29.11.2013
|
Category |
Percentage |
|
Bodies corporate |
6.00 |
|
Directors or relatives of Directors |
88.00 |
|
Others |
6.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealers in Automobile
Vehicles, Spare Parts and Accessories and Petroleum Products/ Lubricants. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
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||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch, 6 A West
Veli Street, Madurai-625001, Tamil Nadu, India ·
UCO Bank, 18, Devaraja Mudali ST, Sowcarpet,
Chennai-600003, Tamil Nadu, India ·
State Bank of Saurashtra, George Town Branch, 48,
Armanian St, Chennai-600001, Tamil Nadu, India ·
State Bank of Mysore, 41, Whites Road,
Royapettah, Chennai – 600014, Tamilnadu, India ·
HDFC Bank Limited, HDFC Bank Housesenapati Bapat
Marg, Lower Parel West, Mumbai-400013, Maharashtra, India ·
ICICI Bank Limited, landmarkrace Course Circle,
Alkapuri, baroda-390015, Gujarat, India |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Sundaram Finance Limited, 21 Patullos Road, Chennai-600002, Tamilnadu,
India |
|
|
|
|
Auditors : |
|
|
Name : |
Sundaram and Srinivasan Chartered Accountants |
|
Address : |
250 P T Rajan Road, Chokkikulam, Madurai – 625002, Tamil Nadu, India |
|
PAN No.: |
AAAFS8812J |
|
|
|
|
Subsidiaries Companies |
·
Sundaram Industries Limited CIN No.(U65991TN1943PLC002656) ·
Sundaram Clayton Limited CIN No. (L35999TN1962PLC004792) ·
Sundaram Lanka Tyres Limited ·
Anusha Investments Limited ·
Southern Roadways Limited CIN No.
(U60221TN1946PLC002582) ·
TVS Motor Company Limited ·
Sundaram Textiles Limited, CIN No.
(U17111TN1960PLC004340) ·
TVS Motor Company ( ·
The Associated Auto Parts Limited CIN No
:(U51220MH1944PLC004124) ·
TVS Motor ( ·
TVS Automobile Solutions Limited CIN No. : (U34100TN2009PLC071439) ·
PT.TVS Motor Company ·
Lucas-TVS Limited CIN No.
(U35999TN1961PLC004678) ·
Sundaram Auto Components Limited CIN No. : (U29249TN1992PLC051417) ·
Lucas Indian Service Limited CIN No.
(U35999TN1930PLC005705) ·
TVS Housing Limited ·
TVS Automotive Systems Limited ·
TVS Energy Limited ·
Iranian Automotive Systems, ·
TVS Wind Power Limited ·
TVS Interconnect Systems Limited ·
TVS Wind Energy Limited ·
NSM Holdings Limited ·
Sundaram Investment Limited ·
TOR Projects and Services Limited ·
TVS Investments Limited ·
NK Telecom Products Limited ·
TVS-E Access ( ·
1NK Tele Systems Limited ·
TVS-E Service Tec Limited ·
TVS Net Technologies Limited ·
Sravanaa Properties Limited ·
1TVS Logistics Services Limited CIN No. :(U63011TN2004PLC054655) ·
TVS Capital Funds Limited ·
TVS Logistics Investment UK Limited, ·
TVS Electronics Limited ·
YeleStre Holdings Limited, ·
Tumkur Property Holdings Limited ·
Multipart (Holdings) Limited, ·
Prime Property Holdings Limited ·
Multipart Solutions Limited, ·
Msys Software Solutions Limited, ·
Multipart Limited, ·
Globe Transport Products Limited, ·
Globe Dynamics Limited ·
TVS Automotive Europe Limited, ·
TVS Autoserv ·
TVS Logistics ·
TVS CJ Components Limited, ·
TVS Logistics Siam Limited, ·
TVS Dynamic Global Freight Services Limited ·
TVS Commutation Solutions Limited ·
TVS Logistics Investments USA Inc, ·
TVS America Inc, ·
Manufacturers Equipment and Supply Company, ·
TVS RHR Finished Vehicles Logistics Solutions
Limited ·
TVS GMR Aviation Logistics Limited |
|
|
|
|
Associates : |
·
Sundram Fasteners Limited ·
Wheels India Limited ·
Sundaram Brake Linings Limited ·
·
TVS Srichakra Limited CIN No. :
(L25111TN1982PLC009414) ·
Brakes India Limited ·
TVS Sewing Needles Limited ·
Delphi-TVS Diesel Systems Limited ·
Irizar TVS Limited, CIN No. :
(U35202TN1998PLC041466) ·
TVS Infrastructure Limited ·
TVS Lanka Private Limited, Srilanka ·
TVS Auto Bangladesh Limited, ·
TVS Charities |
CAPITAL STRUCTURE
AS ON 29.11.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.100/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1144000 |
Equity Shares |
Rs.100/- each |
Rs.114.400 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 |
114.400 |
114.400 |
114.400 |
|
(b) Reserves & Surplus |
3,230.704 |
4,515.825 |
4,204.033 |
|
(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) |
3,345.104 |
4,630.225 |
4,318.433 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1,119.669 |
132.556 |
136.167 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
24.390 |
22.699 |
21.685 |
|
(d) long-term provisions |
45.812 |
40.681 |
32.660 |
|
Total Non-current Liabilities (3) |
1,189.871 |
195.936 |
190.512 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3,456.427 |
2,196.294 |
2,206.535 |
|
(b) Trade payables |
5,441.400 |
2,568.739 |
3,532.078 |
|
(c) Other current
liabilities |
3,389.610 |
2,266.015 |
635.606 |
|
(d) Short-term provisions |
1,342.362 |
1,417.205 |
344.295 |
|
Total Current Liabilities (4) |
13,629.799 |
8,448.253 |
6,718.514 |
|
|
|
|
|
|
TOTAL |
18,164.774 |
13,274.414 |
11,227.459 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1,890.375 |
1,346.082 |
1,057.627 |
|
(ii) Intangible Assets |
28.105 |
14.184 |
12.322 |
|
(iii) Capital
work-in-progress |
44.484 |
54.693 |
38.461 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1,549.188 |
1,523.389 |
1,753.121 |
|
(c) Deferred tax assets (net) |
3.991 |
3.991 |
6.700 |
|
(d) Long-term Loan and Advances |
416.387 |
415.673 |
341.507 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3,932.530 |
3,358.012 |
3,209.738 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5,362.400 |
3,984.637 |
4,092.082 |
|
(c) Trade receivables |
3,197.867 |
2,547.667 |
2,155.618 |
|
(d) Cash and cash
equivalents |
1,251.131 |
790.947 |
702.004 |
|
(e) Short-term loans and
advances |
4,208.592 |
2,496.422 |
1,023.383 |
|
(f) Other current assets |
212.254 |
96.729 |
44.634 |
|
Total Current Assets |
14,232.244 |
9,916.402 |
8,017.721 |
|
|
|
|
|
|
TOTAL |
18,164.774 |
13,274.414 |
11,227.459 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
63,073.504 |
64,134.853 |
57,509.349 |
|
|
|
|
Other Income |
1,240.199 |
620.521 |
451.377 |
|
|
|
|
TOTAL (A) |
64,313.703 |
64,755.374 |
57,960.726 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
3.619 |
0.000 |
0.000 |
|
|
|
|
Purchase of Stock-in-trade |
58,287.458 |
58,616.510 |
53,715.218 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(1,464.455) |
(179.241) |
(1,183.854) |
|
|
|
|
Employee Benefits Expenses |
2,364.338 |
1,916.436 |
1,590.560 |
|
|
|
|
Other Expenses |
3,555.708 |
2,478.570 |
1,813.305 |
|
|
|
|
TOTAL (B) |
62,746.668 |
62,832.275 |
55,935.229 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1,567.035 |
1,923.099 |
2,025.497 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
834.406 |
516.237 |
276.691 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
732.629 |
1,406.862 |
1,748.806 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
288.733 |
215.006 |
158.720 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
443.896 |
1,191.856 |
1,590.086 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
0.000 |
330.925 |
204.948 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
443.896 |
860.931 |
1,385.138 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Stores & Spares |
79.500 |
27.206 |
66.126 |
|
|
|
|
Capital Goods |
4.366 |
6.042 |
176.400 |
|
|
|
TOTAL IMPORTS |
83.866 |
33.248 |
242.526 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
388.02 |
752.56 |
1210.78 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.69 |
1.33 |
2.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.70 |
1.86 |
2.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.68 |
10.19 |
16.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.26 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.37 |
0.50 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.17 |
1.19 |
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 |
114.400 |
114.400 |
114.400 |
|
Reserves & Surplus |
4204.033 |
4515.825 |
3230.704 |
|
Net
worth |
4318.433 |
4630.225 |
3345.104 |
|
|
|
|
|
|
long-term borrowings |
136.167 |
132.556 |
1119.669 |
|
Short term borrowings |
2206.535 |
2196.294 |
3456.427 |
|
Total
borrowings |
2342.702 |
2328.850 |
4576.096 |
|
Debt/Equity
ratio |
0.542 |
0.503 |
1.368 |
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 |
|
Sales |
57,509.349 |
64,134.853 |
63,073.504 |
|
|
|
11.521 |
(1.655) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
57,509.349 |
64,134.853 |
63,073.504 |
|
Profit |
1,385.138 |
860.931 |
443.896 |
|
|
2.41% |
1.34% |
0.70% |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Deposits from
Shareholders |
0.650 |
21.880 |
|
Public Deposits |
79.019 |
90.676 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Loans repayable
on demand from banks |
200.512 |
600.000 |
|
|
|
|
|
Total |
280.181 |
712.556 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10386787 |
25/10/2012 |
300,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B62163696 |
|
2 |
10334446 |
12/01/2012 |
300,000,000.00 |
DAIMLER
FINANCIAL SERVICES INDIA PRIVATE LIMITED |
UNIT
202, 2ND FLOOR, CAMPUS 3B,RMZ MILLENNIA, BUS |
B31630494 |
|
3 |
10171751 |
01/03/2013
* |
650,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013,
INDIA |
B71368096 |
|
4 |
10169516 |
03/03/2014
* |
30,000,000.00 |
SUNDARAM
FINANCE LIMITED |
21
PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
C01062686 |
|
5 |
10170920 |
03/03/2014
* |
670,000,000.00 |
SUNDARAM
FINANCE LIMITED |
21 PATULLOS
ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
C01063031 |
|
6 |
80017962 |
01/03/2013
* |
4,270,000,000.00 |
STATE
BANK OF INDIA |
COMMERCIAL
BRANCH, 6A WEST VELI STREET, MADURAI, TAMIL NADU - 625001, INDIA |
B71325484 |
|
7 |
80013767 |
01/03/2013
* |
200,000,000.00 |
STATE
BANK OF MYSORE |
41
WHITES ROAD, ROYAPETTAH, CHENNAI, TAMIL NADU - 600014, INDIA |
B71423008 |
|
8 |
80017961 |
01/03/2013
* |
80,000,000.00 |
STATE
BANK OF TRAVANCORE |
CHENNAI
MAIN BRANCH, UNITED INDIA BUILDING ESPLANADE, CHENNAI, TAMIL NADU - 600108,
INDIA |
B71158208 |
* Date of charge modification
FIXED ASSETS:
·
·
·
Plant and Machinery
·
Furniture, Fittings and Equipments
·
Transport Vehicles
·
Aircraft
·
Patent Rights and Patterns
·
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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.