MIRA INFORM REPORT

Report No. :	331681
Report Date :	11.07.2015

IDENTIFICATION DETAILS

Name :	APOLLO TYRES LIMITED
Registered Office :	6^th Floor, Cherupushpam Building, Shanmugham Road, Ernakulam – 682031, Kerala
Tel. No.:	91-484-2381902
Country :	India
Financials (as on) :	31.03.2015 (Unaudited)
Date of Incorporation :	28.09.1972
Com. Reg. No.:	09-002449
Capital Investment / Paid-up Capital :	Rs.509.090 Million
CIN No.: [Company Identification No.]	L25111KL1972PLC002449
TAN No.: [Tax Deduction & Collection Account No.]	CHNA01479C
PAN No.: [Permanent Account No.]	AAACA6990Q
Legal Form :	A Public Limited Liability Company. The company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Manufacturing of Automobile Tyres, Automobile Tubes, Automobile Flaps and Camel Black/Rethreading Materials.
No. of Employees :	16000 [Approximately] Group Employees

RATING & COMMENTS

MIRA’s Rating :

Aa (72)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 93000000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is an old and well-established company having fine track. The ratings continue to reflect Apollo Tyres strong market position in the tyre industry, diversified revenue profile emanating from presence across geographies, products/brands and consumer categories. Over all fundamentals of the company appears to be sound and healthy. Directors are reported to be experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

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, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
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	CRISIL
Rating	Long term rating= AA
Rating Explanation	High degree of safety and very low credit risk.
Date	21.04.2015

Rating Agency Name	CRISIL
Rating	Short term rating= A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	21.04.2015

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 31-03-2013.

LOCATIONS

Registered Office :	6^th Floor, Cherupushpam Building, Shanmugham Road, Ernakulam – 682031, Kerala, India
Tel. No.:	91-484-2381902 to 03/ 2381895/ 2381808/ 2381895/2372767/ 2370780
Fax No.:	91-484-2370351
E-Mail :	info@apollotyres.com pn.wahal@apollotyres.com
Website :	http://www.apollotyres.com
Head/ Corporate Office :	Apollo House, 7, Institutional Area, Sector 32, Gurgaon - 122001, Haryana, India
Tel. No.:	91-124-6383002 to 18/ 2721000
Fax No.:	91-124-6383017/ 3021
E-Mail :	pn.wahal@apollotyres.com
Factory 1:	P.O Perambra Thrissur, District Kerala - 680689, India
Tel. No.:	91-480-2725901 to 09
Factory 2:	Premier Tyres Limited, Kalamassery Always, Ernakulam (Kerala) – 683104, India
Tel. No.:	91-484-2540261 to 66
Factory 3:	SIPCOT Industrial Growth Centre Orgadam, Tamilnadu, India
Factory 4 :	Village Limda, Tal. Waghodia, Baroda, Gujarat, India
Branch Office :	4^th Floor, 60 Skylark Building, Nehru Place, New Delhi – 110019, India
Tel. No.:	91-11-2643 1005
Fax No.:	91-11-2647 1283
Overseas Office :	Located At: · South Africa · Zimbabwe · Netherlands

DIRECTORS

AS ON 31.03.2014

Name:	Mr. Onkar S. Kanwar
Designation:	Chairman and Managing Director
Qualification:	B.Sc., Bachelor of Administration (California)
Name :	Mr. Neeraj Kanwar
Designation :	Vice Chairman and Managing Director
Name :	Mr. Arun Kumar Purwar
Designation :	Non-Executive Independent Director
Name :	Mr. K. Jacob Thomas
Designation :	Non-Executive Independent Director
Name :	Mr. K S Srinivas
Designation :	Nominee Director – Govt of Kerala (Equity Investor)
Name :	Mr. M R B Punja
Designation :	Non-Executive Independent Director
Name :	Mr. Nimesh N. Kampani
Designation :	Non-Executive Independent Director
Name :	Mr. Robert Steinmetz
Designation :	Non-Executive Independent Director
Name :	Mr. Suman Sarkar
Designation :	Chief Financial Officer and Whole Time Director
Name :	Mr. Shardul S. Shroff
Designation :	Non-Executive Independent Director
Name :	Dr. S. Narayan
Designation :	Non-Executive Independent Director
Name :	Mr. U. S. Oberoi
Designation :	Chief (Corporate Affairs) and Whole Time Director
Name :	Dr. V P Joy
Designation :	Nominee Director – Govt of Kerala (Equity Investor)
Name :	Mr. Vikram S Mehta
Designation :	Non-Executive Independent Director
Name :	Mr. Alkesh Kumar Sharma
Designation :	Nominee Director – Govt. of Kerala (Equity Investor)

KEY EXECUTIVES

Name :	Mr. P N Wahal
Designation :	Head (Sectt. and Legal) and Company Secretary
Name :	Mr. Sudhir
Designation :	Treasury Head

SHAREHOLDING PATTERN

AS ON 31.03.2015

Category of Shareholder	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	5330791	1.05
Bodies Corporate	216949951	42.62
Sub Total	222280742	43.67
(2) Foreign
Individuals (Non-Residents Individuals / Foreign Individuals)	1977000	0.39
Sub Total	1977000	0.39
Total shareholding of Promoter and Promoter Group (A)	224257742	44.06
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	39338143	7.73
Financial Institutions / Banks	294862	0.06
Central Government / State Government(s)	10000000	1.96
Insurance Companies	2045000	0.40
Foreign Institutional Investors	132311952	25.99
Any Others (Specify)	27889475	5.48
Any Other	3942989	0.77
Foreign Portfolio Investments Corporation	23946486	4.70
Sub Total	211879432	41.62
(2) Non-Institutions
Bodies Corporate	10412587	2.05
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 million	32818712	6.45
Individual shareholders holding nominal share capital in excess of Rs.0.100 million	1390050	0.27
Any Others (Specify)	28266247	5.55
Non Resident Indians	2601046	0.51
Trusts	21465608	4.22
Foreign Nationals	680	0.00
Clearing Members	2765433	0.54
Unclaimed Suspense A/c	1433480	0.28
Sub Total	72887596	14.32
Total Public shareholding (B)	284767028	55.94
Total (A)+(B)	509024770	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	509024770	0.00

BUSINESS DETAILS

Line of Business :	Manufacturing of Automobile Tyres, Automobile Tubes, Automobile Flaps and Camel Black / Rethreading Materials.
Products :	Automobile Tyres Automobile Tubes Automobile Flaps Camel Black Rethreading Materials
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark :	Not Available

Customers :

Company Name :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Maximum Limit Dealt :	Not Available
Experience :	Not Available
Remark :	Not Available

No. of Employees :

16000 [Approximately] Group Employees

Bankers :

· State Bank of India

· Union Bank of India

· Canara Bank

· State Bank of Mysore

· ICICI Bank Limited

· Axis Bank Limited

· IDBI Bank Limited

· Standard Chartered Bank

· BNP Paribas

· State Bank of Travancore

· Yes Bank Limited

· The Hongkong and Shanghai Banking Corporation Limited

· Kotak Mahindra Bank Limited

· Deutsche Bank

· Credit Agricole CIB

· DBS Bank Limited

· The Bank of Nova Scotia

· Citibank N.A.

· HDFC Bank Limited

· ING Vysya Bank Limited

· Corporation Bank

Facilities :

Secured Loan	As on 31.03.2015 [Rs. in Million]	As on 31.03.2014 [Rs. in Million]
Long Term Borrowings
1,000 - 9.40 % Non-Convertible Debentures of Rs. 1 Million each		1000.000
1,000 - 10.15 % Non-Convertible Debentures of Rs. 1 Million each		1000.000
1,000 - 10.15 % Non-Convertible Debentures of Rs. 1 Million each		0.000
1,250 - 11.50 % Non-Convertible Debentures of Rs. 1 Million each		416.670
Term Loans
From Banks:
External Commercial borrowings (ECB)		2306.000
Rupee Term Loans		333.330
From Others:
International Finance Corporation - Loan A		902.740
International Finance Corporation - Loan B Bharat		598.710
Earthmovers Limited (BEML)		412.450
Deferred Payment Liabilities:
Deferred Payment Credit I		155.320
Deferred Payment Credit II		12.110
Short Term Borrowings
Buyer’s Credit - Raw Material *		0.000
Packing Credit		299.570
Banks - Cash Credit (Repayable on Demand) *		2.020
TOTAL	NA	7438.920

Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Chennai, Tamilnadu, India
Collaborators :	Not Divulged
Membership :	Not Divulged
Subsidiaries (As on 31.03.2014) :	· Apollo (Mauritius) Holdings Private Limited (AMHPL) · Apollo (South Africa) Holdings (Pty) Limited (ASHPL) (Subsidiary through AMHPL) · Apollo Tyres South Africa (Pty) Limited(ATSA) (Subsidiary through ASHPL) · Dunlop Africa Marketing (UK) Limited(DAMUK) (Subsidiary through ATSA) · Dunlop Zimbabwe (Private) Limited (DZL) (Subsidiary through DAMUK) · Radun Investments (Private) Limited, Zimbabwe (Subsidiary through DAMUK) · AFS Mining (Private) Limited, Zimbabwe (Subsidiary through DZL) · Apollo Tyres (Cyprus) Private Limited ( ATCPL) (Subsidiary through AMHPL) · Apollo Tyres AG, Switzerland (AT AG) (Subsidiary through ATCPL) · Apollo Tyres Holdings (Singapore) PTE. Limited, (ATHS) (Subsidiary through AMHPL) · Apollo Tyres (LAO) Company Limited (Subsidiary through ATHS) · Apollo Tyres (Middle East) FZE, Dubai (ATFZE) (Subsidiary through AMHPL) · Apollo Tyres Co -operatief U.A., Netherlands (Apollo Coop) (Subsidiary through AMHPL) · Apollo Tyres B.V. (ATBV) (Subsidiary through Apollo Coop) · Apollo Tyres (UK) Private Limited (Subsidiary through ATBV) · Apollo Tyres (Brasil) LTDA. (Subsidiary through Apollo Coop) · Apollo Tyres Global RandD B.V. (Subsidiary through Apollo Coop) · Apollo Tyres (Thailand) Limited (Subsidiary through Apollo Coop) · Apollo Vredestein B.V., Netherlands (AVBV) (Subsidiary through ATBV)
Subsidiaries of Apollo Vredestein B.V (AVBV) (As on 31.03.2014) :	· Vredestein GmbH · Vredestein Norge A.S. · Vredestein U.K. Limited · N.V. Vredestein S.A. · Vredestein GesmbH · Vredestein Schweiz A.G. · Vredestein Nordic A.B. · Apollo Vredestein Srl · Vredestein Iberica S.A · Vredestein Tyres North America Inc. · Vredestein Kft · Vredestein R.O Srl · Vredestein Polska Sp. Z o.o · Vredestein France S.A. · Vredestein consulting B.V. · Finlo B.V. · Vredestein Marketing B.V. · Vredestein Marketing Agentur B.V. and Company KG
Joint Ventures (As on 31.03.2014) :	PanAridus LLC, USA
Companies in which Directors are interested (As on 31.03.2014) :	· Apollo International Limited (AIL) · Apollo International Trading LLC, Middle East · Encorp E Services Limited · UFO Moviez India Limited · Landmark Farms and Housing (Private) Limited · Sunlife Tradelinks (Private) Limited · Travel Tracks Limited · Bespoke Tours and Travels Limited · Dusk Valley Technologies Limited · Classic Auto Tubes Limited · PTL Enterprises Limited (PTL) · Apollo Finance Limited · Artemis Medicare Services Limited · Artemis Health Sciences Limited · National Tyre Service, Zimbabwe · Pressurite (Pty) Limited, South Africa · Regent Properties · CLS Logistics Private Limited · Swaranganga Consultants Private. Limited · J and S Systems Corporation, U.K. · Sacred Heart Investment Company Private Limited · Milers Global Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital : Not Divulged

Issued, Subscribed & Paid-up Capital : Rs.509.090 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
730000000	Equity Shares	Re.1/- each	Rs.730.000 Million
200000	Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.20.000 Million
	TOTAL		Rs.750.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
504024770	Equity Shares	Re.1/- each	Rs.504.020 Million
	Add: Forfeited Shares		Rs.0.070 Million
	TOTAL		Rs.504.090 Million

Details of Shareholders holding more than 5% of the Paid up Equity Share Capital of the Company with Voting Rights:

		As at Mar 31, 2014
S. No.	Name of the Shareholder	No. of Shares	%age
1	Neeraj Consultants Limited	42508142	8.43 %
2	Apollo Finance Limited	36759650	7.29 %
3	Sunrays Properties and Investment Company Private Limited	35725648	7.09 %
4	Constructive Finance Private Limited	29630857	5.88 %
5	CLSA (Mauritius) Limited	27020843	5.36 %
6	ICICI Prudential Life Insurance Company Limited	26665390	5.29%

The rights, preferences and restrictions attached to equity shares of the Company:

The Company has only one class of shares referred to as equity shares having a par value of Rs. 1 each. The holder of equity shares are entitled to one vote per share.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015 (Unaudited)	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	509.090	504.090	504.090
(b) Reserves & Surplus	32197.760	26786.320	22802.390
(c) Money received against share warrants	0.000	107.750	107.750
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	32706.850	27398.160	23414.230
(3) Non-Current Liabilities
(a) long-term borrowings	3339.390	7137.330	13383.680
(b) Deferred tax liabilities (Net)	4122.420	3909.450	3518.400
(c) Other long term liabilities	69.140	129.730	124.100
(d) long-term provisions	78.430	0.000	0.000
Total Non-current Liabilities (3)	7609.380	11176.510	17026.180
(4) Current Liabilities
(a) Short term borrowings	4626.600	1806.730	5394.150
(b) Trade payables	6621.810	8983.410	6000.950
(c) Other current liabilities	5616.920	8907.380	4625.630
(d) Short-term provisions	4032.500	2847.820	1910.920
Total Current Liabilities (4)	20897.830	22545.340	17931.650
TOTAL	61214.060	61120.010	58372.060
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	32366.900	32421.610	30633.900
(ii) Intangible Assets	0.000	114.210	79.640
(iii) Capital work-in-progress	0.000	349.710	2489.730
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	6519.190	6514.640	6126.950
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1780.280	1230.380	1689.940
(e) Other Non-current assets	360.180	0.000	0.000
Total Non-Current Assets	41026.550	40630.550	41020.160
(2) Current assets
(a) Current investments	1000.000	0.000	0.000
(b) Inventories	11851.860	12836.920	11208.260
(c) Trade receivables	3200.100	2405.450	2731.360
(d) Cash and cash equivalents	2078.400	2211.100	1541.920
(e) Short-term loans and advances	1681.190	2445.800	1869.660
(f) Other current assets	375.960	590.190	0.700
Total Current Assets	20187.510	20489.460	17351.900
TOTAL	61214.060	61120.010	58372.060

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015 (Audited)	31.03.2014	31.03.2013
	SALES
		Income	89378.170	86100.800	85074.910
		Other Income	375.460	1808.780	573.770
		TOTAL (A)	89753.630	87909.580	85648.680
Less	EXPENSES
		Cost of Materials Consumed	54007.140	57243.060	58673.640
		Purchase of Stock-in-Trade	2492.190	2502.760	2538.950
		Employee Benefits Expense	5451.320	4866.690	4268.520
		Other Expenses	14075.590	12674.260	10685.650
		Exceptional Items	0.000	710.470	0.000
		Increase/(Decrease) in Work in Process and Finished Goods	197.290	(1158.670)	(73.710)
		TOTAL (B)	76223.530	76838.570	76093.050
	PROFIT BEFORE INTEREST TAX DEPRECIATION AND AMORTISATION (A-B) (C)		13530.100	11071.010	9555.630
Less	FINANCIAL EXPENSES (D)		1720.880	2446.100	2609.730
	PROFIT BEFORE TAX DEPRECIATION AND AMORTISATION (C-D) (E)		11809.220	8624.910	6945.900
Less	DEPRECIATION/ AMORTISATION (F)		2467.800	2480.460	2200.710
	PROFIT BEFORE TAX (E-F) (G)		9341.420	6144.450	4745.190
Less	TAX (H)		2890.610	1718.260	1619.910
	PROFIT AFTER TAX (G-H) (I)		6450.810	4426.190	3125.280
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		10383.030	7886.600	6710.320
Less	APPROPRIATIONS
		General Reserve		1000.000	1000.000
		Debenture Redemption Reserve		487.500	654.160
		Proposed Dividend		378.020	252.010
		Dividend Tax		64.240	42.830
	BALANCE CARRIED TO THE B/S		NA	10383.030	7886.600
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings		8142.280	8091.670
		Royalty Received		57.280	43.660
		Cross Charge of Management Expenses		28.100	62.440
		Reimbursement of Expenses Received		30.100	36.920
	TOTAL EARNINGS		NA	8257.760	8234.690
	IMPORTS
		Raw Materials		25492.150	26222.050
		Stores & Spares		65.110	65.460
		Capital Goods		503.690	1623.420
	TOTAL IMPORTS		NA	26060.950	27910.930
	Earnings Per Share (Rs.)
	- Basic		12.70	8.78	6.20
	- Diluted		12.69	8.77	6.20

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt
Debentures:
1,250 - 11.50 % Non-Convertible Debentures of Rs.1 Million each	NA	416.670	416.670
1,000 - 10.15 % Non-Convertible Debentures of Rs.1 Million each	NA	1000.000	0.000
TOTAL	NA	1416.670	416.670
Cash generated from operations	NA	12520.980	8719.990
Net cash from operating activities	NA	11266.620	7672.160

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin PAT / Sales	(%)	7.22	5.14	3.67
Operating Profit Margin (PBDIT/Sales)	(%)	15.14	12.86	11.23
Return on Total Assets (PBT/Total Assets)	(%)	17.08	11.32	9.54
Return on Investment (ROI) (PBT/Networth)		0.29	0.22	0.20
Debt Equity Ratio (Total Debt /Networth)		0.24	0.38	0.82
Current Ratio (Current Asset/Current Liability)		0.97	0.91	0.97

STOCK PRICES

Face Value	Rs.1.00/-
Market Value	Rs.175.15/-

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	504.090	504.090	509.090
Reserves & Surplus	22802.390	26786.320	32197.760
Net worth	23306.480	27290.410	32706.850
long-term borrowings	13383.680	7137.330	3339.390
Short term borrowings	5394.150	1806.730	4626.600
Total borrowings	18777.830	8944.060	7965.990
Debt/Equity ratio	0.806	0.328	0.244

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	85074.910	86100.800	89378.170
		1.206	3.806

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	Rs. In Million	Rs. In Million	Rs. In Million
Sales	85074.910	86100.800	89378.170
Profit	3125.280	4426.190	6450.810
	3.67%	5.14%	7.22%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	Yes
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS:

KERALA HIGH COURT
CASE STATUS INFORMATION SYSTEM

Case Status         :  PENDING

Status of          CENTRAL EXICISE APPE  16        of    2014           

COMMISSIONER OF CENTRAL EXCISE                 Vs.                  M/S.APOLLO TYRES LTD.

Pet's Adv.            :   SRI.JOHN VARGHESE,SC,CEN.                   

Res's Adv.           :   SRI.V.ABRAHAM MARKOS    

Last Listed On2 :     10-10-2014     

Category             :   Central Excise Appeal

CONNECTED APPLICATION (S) No Connected Application

CONNECTED MATTER (S) No Connected Matter

Case Updated on:   Tuesday, November 25, 2014

UNSECURED LOAN:

Particulars	31.03.2015 Rs. In Million	31.03.2014 Rs. In Million
Short Term Borrowings
Commercial Paper #		0.000
Buyers Credit - Raw Material		173.800
Packing Credits		1331.340
TOTAL	NA	1505.140

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10364532	29/06/2012	1,530,000,000.00	ICICI BANK LIMITED	LAND MARK, RACE COURSE CIRCLE,, VADODARA, GUJARAT - 390007, INDIA	B43213123
2	10363215	29/06/2012 *	1,000,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BUILDING, GROUND FLOOR, 17,, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA	B56258189
3	10363216	29/06/2012 *	1,000,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BUILDING, GROUND FLOOR, 17,, R. KAMANI MARG, BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA	B56258460
4	10347294	20/02/2015 *	300,000,000.00	DBS BANK LTD	UGF, BIRLA TOWER, 25 BARAKHAMBA ROAD, ACTING AS SECURITY TRUSTE TO DBS BANK LTD SINGAPOR, NEW DELHI - 110001, INDIA	C50618511
5	10347296	20/02/2015 *	432,390,000.00	DBS BANK LTD	UGF, BIRLA TOWER, 25 BARAKHAMBA ROAD,, ACTING AS SECURITY TRUSTE TO DBS BANK LTD, SINGAPOR, NEW DELHI, DELHI - 110001, INDIA	C50624832
6	10325438	20/02/2015 *	449,000,000.00	BNP PARIBAS	20 COLLER QUAY #, 01-01, TUNG CENTRE, SINGAPORE, SINGAPORE, - 049319, SINGAPORE	C51069557
7	10323173	20/02/2015 *	556,750,000.00	HSBC BANK (MAURITIUS) LIMITED	HSBC CENTRE, 18 CYBERCITY, EBENE, - 999999, MAUR ITIUS	C50626894
8	10307999	20/02/2015 *	491,200,000.00	ICICI BANK LIMITED	SUITE 15, PART 3, MUNICIPALITY NO 116, P.O BOX 14 94, BUILDING 114, GOVERNMENT AVENUE, MANAMA, - 316, BAHRAIN	C50407873
9	10314391	20/02/2015 *	960,000,000.00	STANDARD CHARTERED BANK (ACTING AS AN SECURITY AGE NT)	CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARA KHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	C50635960
10	10268945	20/02/2015 *	916,100,000.00	INTERNATIONAL FINANCE CORPORATION	2121, PENNSYLVANIA AVENUE, N.W., WASHINGTON, D.C. 20433, WASHINGTON, - 20433, UNITED STATES OF AMERICA	C50632710
11	10270398	20/02/2015 *	924,400,000.00	HSBC BANK (MAURITIUS) LIMITED	HSBC CENTRE, 18 CYBERCITY, EBENE, - 999999, MAURITIUS	C50625797
12	10264517	28/03/2013 *	1,000,000,000.00	STATE BANK OF INDIA	SECURITIES AND SERVICES DIVISION, SBI CHENNAI MAI N BR., 84, RAJAJI SALAI,, CHENNAI, TAMIL NADU - 60 0001, INDIA	B74016429
13	10246213	20/02/2015 *	1,395,000,000.00	INTERNATIONAL FINANCE CORPORATION	2121, PENNSYLVANIA AVENUE, N.W, WASHINGTON, D.C. 20433, WASHINGTON, - 20433, UNITED STATES OF AMER ICA	C50630185
14	10182838	23/10/2009	1,000,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - 400018, INDIA	A72488125
15	10158129	28/03/2013 *	1,250,000,000.00	STATE BANK OF INDIA	SECURITIES AND SERVICES DIVISION, SBI CHENNAI MAI N BR., 84, RAJAJI SALAI,, CHENNAI, TAMIL NADU - 600001, INDIA	B74016858
16	10134925	05/12/2008	350,000,000.00	UNION BANK OF INDIA	M. G. ROAD,, ERNAKULAM, KOCHI, KERALA - 682035, INDIA	A53416228
17	10135740	21/11/2008	170,000,000.00	CANARA BANK	ERNAKULAM SOUTH BR., CHITTOOR ROAD, ERNAKULAM, KOCHI, KERALA - 682016, INDIA	A53872719
18	10135118	11/11/2008	1,000,000,000.00	IDBI BANK LIMITED	11TH FLOOR, SURYA KIRAN BUILDING,, K. G. MARG,, NEW DELHI, DELHI - 110001, INDIA	A53553483
19	10083902	19/12/2007	336,800,000.00	INFRASTRUCTURE DEVELOPMENT FINANCE COMPANY LIMITED	ITC CENTRE, 3RD FLOOR760, ANNA SALAI,, CHENNAI - 600 002, CHENNAI - 600 002, TAMIL NADU - 600002, INDIA	A30397251
20	10041075	28/02/2007	250,000,000.00	BNP PARIBAS	1ST FLOOR,EAST TOWERS(SOOD TOWERS), 25-BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	A12139358
21	90022854	07/02/2003	100,000,000.00	STANDARD CHARTERED BANK	SANSAD MARG, NEW DELHI, DELHI, INDIA	-
22	90022207	18/10/1996 *	47,500,000.00	UNION BANK OF INDIA	M. G. ROAD, ERNAKULAM, KERALA, INDIA	-
23	90022177	18/10/1996 *	19,000,000.00	STATE BANK OF MYSORE	3; 4 & 5; D. D. A. BUILDING, NEHRU PLACE, NEW DEL HI, DELHI - 110019, INDIA	-
24	90022094	18/10/1996 *	92,800,000.00	STATE BANK OF PATIALA	28; K. G. MARG, NEW DELHI, DELHI - 110001, INDIA	-
25	90022066	18/10/1996 *	13,230,000.00	BANK OF INDIA	COLLIS ESTATE, M. G. ROAD; ERNAKULAM, KOCHI, KERALA - 682016, INDIA	-
26	90022065	25/04/1994	8,685,000.00	BANK OF INDIA	COLLIS ESTATE, M. G. ROAD; ERNAKULAM, KOCHI, KERALA - 682016, INDIA	-
27	90022057	18/10/1996 *	13,500,000.00	STATE BANK OF MYSORE	3; 4 & 5; D. D. A BUILDING, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	-
28	90020905	20/02/2015 *	14,500,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH 14-15TH FLOOR,, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, JANPATH, NEW DELHI - 110001, INDIA	C50741073

*Date of modification Charges

FIXED ASSETS:

· Land

· Buildings

· Plant and Machinery

· Electrical Installation

· Furniture and Fixtures

· Office Equipments

· Vehicles

· 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, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.38
UK Pound	1	Rs.97.65
Euro	1	Rs.70.43

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	8
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILITY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	8
--CREDIT LINES	1~10	8
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		72

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.