MIRA INFORM REPORT
|
Report No. : |
318429 |
|
Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
TVS LOGISTICS SERVICES LIMITED |
|
|
|
|
Registered
Office : |
TVS Building, 7-B, |
|
Tel. No. : |
91-44-66857777 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.11.2004 |
|
|
|
|
Com. Reg. No.: |
18-054655 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 235.769 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63011TN2004PLC054655 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRIT01242D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT1412E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
The Company has been providing the entire basket of logistics services including aftermarket warehouse, in-plant warehouse, global supply chain management services, domestic supply chain management services and material handling services. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 9200000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and sound profitability margins of the company. Trade relations are reported as fair. Payments are reported to be
regular and as per commitment. The company can be considered good for normal 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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Fund based facilities: A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
March 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Loans : A1 + |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
March 2015 |
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 DENIED BY
|
Name : |
Ms Sangeeta |
|
Designation : |
Receptionist |
|
Contact No.: |
91-452-2356400 |
|
Date : |
20.04.2015 |
LOCATIONS
|
Registered Office : |
TVS Building, 7-B, |
|
Tel. No.: |
91-452-2356400 |
|
Fax No.: |
91-452-2341587 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Corporate Office : |
58, Eldams Road, TK Kumarasamy Road, Teynampet, Chennai-600015,
Tamilnadu, India |
|
Tel. No.: |
91-44-66857777 |
|
Fax No.: |
91-44-66793127 |
|
E-Mail : |
|
|
|
|
|
Regional Office : |
Survey No. 461/2c, S and D Warehouse, Ambattur-Puzhai Road, Puzhai, Chennai-600066,
Tamilnadu, India |
|
|
|
|
Branch Office : |
AVA Towers, No. 152 and 150, TNEB Avenue, Annasalai, Chennai,
Tamilnadu, India |
|
Tel. No.: |
91-44-30980300 |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Suresh Krishna |
|
Designation : |
Director |
|
Address : |
79, Poes Gorden, Chennai-600086, Tamilnadu, India |
|
Date of Birth/Age : |
24.12.1936 |
|
Date of Appointment : |
16.11.2004 |
|
DIN No.: |
00046919 |
|
|
|
|
Name : |
Mr. Santhanam Ram |
|
Designation : |
Director |
|
Address : |
Old No.29, New No.57, Prithvi Avenue, Chennai-600018, Tamilnadu, India
|
|
Date of Birth/Age : |
27.04.1940 |
|
Date of Appointment : |
16.11.2004 |
|
DIN No.: |
00018309 |
|
|
|
|
Name : |
Mr. Ramachandran Dinesh |
|
Designation : |
Director |
|
Address : |
16, Jawahar Road, Chokki Kulam, Madurai-625002, Tamilnadu, India |
|
Date of Birth/Age : |
25.02.1965 |
|
Date of Appointment : |
01.09.2008 |
|
PAN No.: |
AAJPD2850Q |
|
DIN No.: |
00363300 |
|
|
|
|
Name : |
Mr. Gopal Srinivasan |
|
Designation : |
Director |
|
Address : |
Old No.2, New No.3, West Side Houses, Adyar Club, Gate Road
Chennai-600028, Tamilnadu, India |
|
Date of Birth/Age : |
04.08.1958 |
|
Date of Appointment : |
05.08.2005 |
|
DIN No.: |
00177699 |
|
|
|
|
Name : |
Mr. Tarun Khanna |
|
Designation : |
Director |
|
Address : |
66, Druid Hill road, Newton, United States of America-02461 |
|
Date of Birth/Age : |
09.05.1966 |
|
Date of Appointment : |
21.11.2007 |
|
DIN No.: |
01760700 |
|
|
|
|
Name : |
Mr. Sanjeev Kishen Mehra |
|
Designation : |
Director |
|
Address : |
44, Mayfair Lane, Greenwich, United States of America-06831 |
|
Date of Birth/Age : |
07.01.1959 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
02195545 |
|
|
|
|
Name : |
Ms. Lavanya Ashok |
|
Designation : |
Alternate Director |
|
Address : |
139/6-2, Domlur Layout, Bangalore-560071, |
|
Date of Birth/Age : |
11.07.1982 |
|
Date of Appointment : |
26.03.2013 |
|
DIN No.: |
03453279 |
|
|
|
|
Name : |
Mr. S Ravichandran |
|
Designation : |
Director |
|
Address : |
2 Abhiramapuram, III Street, Abhiramapuram, Chennai – 600018, Tamil
nadu, India |
|
Date of Birth/Age : |
11.09.1982 |
|
Date of Appointment : |
23.08.2011 |
|
DIN No.: |
01485845 |
|
|
|
|
Name : |
Ms. Kruti Chandrasinhji Desai |
|
Designation : |
Director |
|
Address : |
Chandramouli 7, SBI Senior Officers Housing Society Limited,
NAranpura, Ahmedabad – 380013, Gujarat, India |
|
Date of Birth/Age : |
11.09.1982 |
|
Date of Appointment : |
23.08.2014 |
|
DIN No.: |
06955052 |
KEY EXECUTIVES
|
Name : |
Mr. Raghunatha Rao Raghunath Ravi |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.4, 1st Floor, Rite Choice Swamyvas Apartment,
Anandapuram, Mylapore, Chennai-600004, Tamilnadu, India |
|
Date of Birth/Age : |
20.10.1954 |
|
Date of Appointment : |
08.09.2006 |
|
Pan No.: |
AAEPR7332Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
Shareholding Details File Attached
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companies(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
45.94 |
|
Bodies corporate |
43.82 |
|
Directors or relatives of Directors |
6.52 |
|
Other top fifty shareholders |
3.72 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company has been providing the entire basket of logistics services including aftermarket warehouse, in-plant warehouse, global supply chain management services, domestic supply chain management services and material handling services. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
KPMG House, No.10, Mahatma Gandhi Road, Nungambakkam High Road,
Chennai, Tamilnadu, India |
|
PAN No: |
AAIFB7355D |
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|
|
|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Holding Company : |
T V Sundram
Iyengar and Sons Limited, India [U34101TN1929PLC002973] |
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Fellow Subsidiaries : |
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Subsidiaries : |
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Joint Venture : |
TVS
Infrastructure Limited [U45200MH2005PLC154628] |
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Other Related Parties : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28,800,000 |
Equity Shares |
Rs.10/- each |
Rs. 288.000 Million |
|
1,200,000 |
Preference Shares |
Rs.10/- each |
Rs. 12.000 Million |
|
|
Total |
|
Rs. 300.000
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,40,00,616 |
Equity Shares |
Rs.10/- each |
Rs. 240.006
Million |
|
|
|
|
|
Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,40,00,616 |
Equity Shares |
Rs.10/- each |
Rs. 240.006
Million |
|
|
Less: Call Unpaid Shares |
|
Rs. 4.237
Million |
|
|
Total |
|
Rs. 235.769 Million |
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
Less: Call Unpaid Shares |
|
Rs. 4.237
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
235.769 |
235.489 |
187.622 |
|
(b) Reserves & Surplus |
2974.083 |
3010.230 |
1085.397 |
|
(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) |
3209.852 |
3245.719 |
1273.019 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
219.166 |
122.371 |
596.166 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.551 |
13.494 |
10.582 |
|
Total
Non-current Liabilities (3) |
227.717 |
135.865 |
606.748 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
762.921 |
565.044 |
1000.694 |
|
(b) Trade payables |
512.510 |
619.566 |
554.438 |
|
(c) Other current liabilities |
465.105 |
367.853 |
238.915 |
|
(d) Short-term provisions |
71.686 |
94.288 |
43.068 |
|
Total
Current Liabilities (4) |
1812.222 |
1646.751 |
1837.115 |
|
|
|
|
|
|
TOTAL |
5249.791 |
5028.335 |
3716.882 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
759.661 |
774.129 |
574.249 |
|
(ii) Intangible Assets |
115.945 |
67.164 |
73.618 |
|
(iii) Capital work-in-progress |
13.081 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
65.120 |
15.356 |
|
(b) Non-current Investments |
1618.275 |
1219.486 |
700.205 |
|
(c) Deferred tax assets (net) |
20.375 |
21.573 |
12.144 |
|
(d) Long-term Loan and Advances |
406.363 |
221.115 |
552.188 |
|
(e) Other Non-current assets |
8.746 |
11.134 |
10.859 |
|
Total
Non-Current Assets |
2942.446 |
2379.721 |
1938.619 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
3.597 |
300.154 |
0.000 |
|
(b) Inventories |
39.382 |
38.265 |
14.251 |
|
(c) Trade receivables |
841.969 |
759.174 |
900.388 |
|
(d) Cash and cash equivalents |
637.757 |
750.786 |
17.840 |
|
(e) Short-term loans and
advances |
509.017 |
604.536 |
730.861 |
|
(f) Other current assets |
275.623 |
195.699 |
114.923 |
|
Total
Current Assets |
2307.345 |
2648.614 |
1778.263 |
|
|
|
|
|
|
TOTAL |
5249.791 |
5028.335 |
3716.882 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
4689.599 |
4284.190 |
4114.957 |
|
|
Other Income |
317.848 |
160.322 |
108.725 |
|
|
TOTAL
(A) |
5007.447 |
4444.512 |
4223.682 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
1563.238 |
1394.096 |
1290.948 |
|
|
Other expenses |
3066.453 |
2645.154 |
2637.988 |
|
|
TOTAL
(B) |
4629.691 |
4039.250 |
3928.936 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
377.756 |
405.262 |
294.746 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
126.440 |
66.822 |
157.860 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
251.316 |
338.440 |
136.886 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
185.652 |
137.927 |
114.981 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
65.664 |
200.513 |
21.905 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
7.975 |
59.797 |
4.582 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
57.689 |
140.716 |
17.323 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
212.179 |
147.015 |
151.049 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
5.769 |
14.072 |
1.732 |
|
|
Dividend |
31.721 |
6.823 |
16.886 |
|
|
Tax on Dividend |
23.862 |
54.657 |
2.739 |
|
|
Total
(M) |
61.352 |
75.552 |
21.357 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
208.516 |
212.179 |
147.015 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
173.300 |
59.700 |
60.259 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.45 |
6.40 |
0.92 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.23 |
3.28 |
0.42 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
8.06 |
9.46 |
7.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.82 |
5.39 |
0.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.06 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
0.21 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
1.61 |
0.97 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
187.622 |
235.489 |
235.769 |
|
Reserves & Surplus |
1085.397 |
3010.230 |
2974.083 |
|
Net
worth |
1273.019 |
3245.719 |
3209.852 |
|
|
|
|
|
|
long-term borrowings |
596.166 |
122.371 |
219.166 |
|
Short term borrowings |
1000.694 |
565.044 |
762.921 |
|
Total
borrowings |
1596.860 |
687.415 |
982.087 |
|
Debt/Equity
ratio |
1.254 |
0.212 |
0.306 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
4114.957 |
4284.190 |
4689.599 |
|
|
|
4.113 |
9.463 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
4114.957 |
4284.190 |
4689.599 |
|
Profit |
17.323 |
140.716 |
57.689 |
|
|
0.42% |
3.28% |
1.23% |
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 |
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 |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
Company Overview
Subject was incorporated on 16 November 2004 and is in the business of providing logistics services.
The Company has been providing the entire basket of logistics services including aftermarket warehouse, in-plant warehouse, global supply chain management services, domestic supply chain management services and material handling services.
BUSINESS REVIEW
The operating income of the Company for the year amounts to Rs. 4689.500 Million as against Rs. 4284.200 Million reported in the previous year. The results are detailed in the Profit and Loss Account attached hereto.
The overall slowdown in the economy which has impacted automobile industry has affected the profitability of the Company. The Company had taken various steps to improve its operating margin but at the same time made significant revenue investments in several initiatives which has affected the profits of the Company.
PROSPECTS
The Company has been analyzing various businesses/streams and will be focusing on warehousing and integrated logistics solutions and not invest more resources on pure asset based businesses. These and the strategy of working closely with the customers further are expected to improve the profitability and attain higher growth.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Term loan from Others |
75.000 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans from banks |
267.921 |
65.044 |
|
|
|
|
|
Total |
342.921 |
65.044 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10547748 |
29/01/2015 |
1,079,594.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
C42864157 |
|
2 |
10500616 |
08/05/2014 |
100,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
C05407978 |
|
3 |
10478784 |
07/02/2014 |
1,402,943.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
B96851357 |
|
4 |
10479516 |
29/01/2014 |
100,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B97171433 |
|
5 |
10447544 |
26/08/2013 |
689,330.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
B84277664 |
|
6 |
10442243 |
05/08/2013 |
26,400,000.00 |
L & T FINANCE LIMITED |
L&T HOUSE,, BALLARD ESTATE,, MUMBAI, Maharashtra - 400001, INDIA |
B81789513 |
|
7 |
10437539 |
01/07/2013 |
533,401.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
B79916995 |
|
8 |
10361573 |
21/05/2012 |
16,717,057.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
B42019711 |
|
9 |
10356683 |
17/04/2012 |
13,709,160.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
B39967401 |
|
10 |
10356681 |
31/03/2012 |
1,287,866.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
B39967229 |
* Date of charge modification
FIXED ASSETS
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipments
- 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.62.92 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
64 |
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.