MIRA INFORM REPORT
|
Report No. : |
331020 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUNDARAM AUTO COMPONENTS LIMITED |
|
|
|
|
Formerly Known
As : |
SUNDARAM AUTO COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
Jaya Lakshmi Estates, No. 29 (8), Haddows Road, Chennai – 600006,
Tamilnadu |
|
Tel. No.: |
91-44-28272233/ 27173524 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
10.06.1992 |
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Com. Reg. No.: |
18-051417 |
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Capital
Investment / Paid-up Capital : |
Rs. 115.500 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U29249TN1992PLC051417 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACS7027G |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Automobile Parts and Trading of Automobiles. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3200000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject is a subsidiary of “TVS Motor Company Limited” and
well-established company incorporated during the year 1992. It is engaged in
the business of automobile parts and trading of automobiles. It has a fine
track record. For the financial year 2015, the company has healthy operational
activity marked by sound sales turnover and above average profitability
margin. The rating reflects the company’s decent financial profile marked by
adequate net worth position and low borrowings taken by the company. Trade relations are reported as fair. Business is active. Payments
terms are regular. In view good managerial support and fair liquidity profile, the
company can be considered 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, 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 |
CARE |
|
Rating |
Long term Bank facilities = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
Jan 21, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities = A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
Jan 21, 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.
INFORMATION DENIED
Management non-cooperative (91-44-27173520/27173526)
LOCATIONS
|
Registered Office : |
Jaya Lakshmi Estates, No. 29 (8), Haddows Road, Chennai – 600006,
Tamilnadu, India |
|
Tel. No.: |
91-44-28272233/ 27173524 |
|
Fax No.: |
91-44-28257121 |
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E-Mail : |
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Website : |
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Plant 1 : |
Thally Road, Belagondapalli, hosur
– 635114, Tamilnadu, India |
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Plant 2 : |
Plot B-11, Sipcot Industrial growth
Centre, Oragadam, Sriperumbathur Taluk, Kanchipuram District - 602105,
Tamilnadu, India |
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Plant 3 : |
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DIRECTORS
As on 15.05.2015
|
Name : |
Mr. Harihara Iyer Lakshmanan |
|
Designation : |
Director |
|
Address : |
D-1, Palacio, New No. 408, Old No. 216, TTK Road, Alwarpet, Chennai –
600018, Tamilnadu, India |
|
Date of Birth/Age : |
14.08.1933 |
|
Qualification : |
S.S.L.C. |
|
Date of Appointment : |
19.04.2010 |
|
DIN No.: |
00057973 |
|
|
|
|
Name : |
Mr. Chundi Narasimha Prasad |
|
Designation : |
Director |
|
Address : |
1 D, Jacaranda, 21-23 Tas Enclave, AK Block, Extension (Behind SMF),
Shanthi Colony, Anna Nagar, Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
01.07.1947 |
|
Qualification : |
B.E, MSC (Cranfield)., M.B.A |
|
Date of Appointment : |
17.08.2009 |
|
DIN No.: |
01950656 |
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|
|
|
Name : |
Mr. Seeplaputhur Ganapathiramaswamy Murali |
|
Designation : |
Director |
|
Address : |
Plot No. 8, “Shruthi” 515 Housing Colony, H. A. L. III Stage,
Bangalore – 560075, Karnataka, India |
|
Date of Birth/Age : |
26.0.1950 |
|
Qualification : |
B.Com., A.C.A. |
|
Date of Appointment : |
08.09.2010 |
|
DIN No.: |
00348902 |
KEY EXECUTIVES
|
Name : |
Mr. Pradip Kumar Saha |
|
Designation : |
Manager |
|
Address : |
Flat No. 5D, East Block, Klassic Benchmark, Kalena Agrahara, Near
Meenakshi Temple, Bannerghatta Road, Bangalore – 560076, Karnataka, India |
|
Date of Birth/Age : |
18.09.1963 |
|
Date of Appointment : |
01.06.2013 |
|
PAN No.: |
ADMPS1449N |
|
|
|
|
Name : |
Mr. Kalyanasundaram Dharmarajan |
|
Designation : |
Secretary |
|
Address : |
Plot No. 26, Little Woods Residency, Jawahar Nagar, Near Hanuman
Temple, Hosur – 635109, Tamilnadu, India |
|
Date of Birth/Age : |
04.05.1960 |
|
Date of Appointment : |
13.03.2008 |
|
PAN No.: |
ACYPD7722N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.05.2015
|
Names of Shareholders |
|
No. of Shares |
|
TVS Motor Company Limited, India |
|
11549994 |
|
C Mukundhan (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
V N Venkatanathan (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
K Gopala Desikan (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
H Lakshmanan (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
C Narsimhan (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
Sujatha Balaji (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
|
|
|
|
Total |
|
11550000 |
Equity Share Break up (Percentage of Total Equity)
As on 15.05.2015
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Automobile Parts and Trading of Automobiles. |
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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 : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sundaram and Srinivasan Chartered Accountants |
|
Address : |
23, C P Ramaswamy Road, Alwarpet, Chennai – 600018, Tamilnadu, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFF8812J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company : |
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Ultimate holding
companies: |
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Fellow Subsidiaries
: |
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Associate Company : |
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CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,550,000 |
Equity Shares |
Rs. 10/- each |
Rs. 115.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
115.500 |
115.500 |
115.500 |
|
(b) Reserves & Surplus |
996.100 |
828.300 |
757.238 |
|
(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) |
1111.600 |
943.800 |
872.738 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
90.000 |
170.000 |
317.600 |
|
(b) Deferred tax liabilities (Net) |
74.700 |
86.300 |
79.728 |
|
(c) Other long term
liabilities |
248.300 |
248.300 |
248.300 |
|
(d) long-term
provisions |
9.600 |
16.400 |
14.947 |
|
Total Non-current
Liabilities (3) |
422.600 |
521.000 |
660.575 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
25.200 |
183.000 |
63.493 |
|
(b) Trade
payables |
1632.000 |
1009.300 |
1199.732 |
|
(c) Other
current liabilities |
621.600 |
340.600 |
223.273 |
|
(d) Short-term
provisions |
35.400 |
43.200 |
43.591 |
|
Total Current
Liabilities (4) |
2314.200 |
1576.100 |
1530.089 |
|
|
|
|
|
|
TOTAL |
3848.400 |
3040.900 |
3063.402 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
986.500 |
1072.900 |
1072.051 |
|
(ii)
Intangible Assets |
1.200 |
1.500 |
2.894 |
|
(iii)
Capital work-in-progress |
35.500 |
1.300 |
0.713 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
288.700 |
278.400 |
279.983 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
59.600 |
1.300 |
2.274 |
|
(e) Other
Non-current assets |
42.800 |
52.700 |
57.077 |
|
Total Non-Current Assets |
1414.300 |
1408.100 |
1414.992 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1408.500 |
654.300 |
824.044 |
|
(c) Trade
receivables |
791.800 |
898.900 |
689.098 |
|
(d) Cash
and cash equivalents |
27.900 |
6.600 |
46.825 |
|
(e)
Short-term loans and advances |
160.700 |
51.000 |
25.358 |
|
(f) Other
current assets |
45.200 |
22.000 |
63.085 |
|
Total
Current Assets |
2434.100 |
1632.800 |
1648.410 |
|
|
|
|
|
|
TOTAL |
3848.400 |
3040.900 |
3063.402 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
21357.800 |
18753.000 |
13679.191 |
|
|
|
Other Income |
15.800 |
17.700 |
4.205 |
|
|
|
TOTAL (A) |
21373.600 |
18770.700 |
13683.396 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2689.800 |
1848.000 |
1797.828 |
|
|
|
Purchases of Stock-in-Trade |
17270.500 |
15422.500 |
10787.070 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(414.600) |
124.500 |
(265.269) |
|
|
|
Employees benefits expense |
411.300 |
327.900 |
388.583 |
|
|
|
Exceptional Items |
(8.600) |
(4.900) |
0.000 |
|
|
|
Extraordinary Items |
0.000 |
0.000 |
(126.380) |
|
|
|
Other expenses |
882.600 |
714.300 |
702.523 |
|
|
|
TOTAL (B) |
20831.000 |
18432.300 |
13284.355 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
542.600 |
338.400 |
399.041 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
52.100 |
59.800 |
70.689 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
490.500 |
278.600 |
328.352 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
117.300 |
100.800 |
109.679 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
373.200 |
177.800 |
218.673 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
120.000 |
71.100 |
82.518 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
253.200 |
106.700 |
136.155 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
216.000 |
154.000 |
66.800 |
|
|
|
|
|
|
|
|
|
Add |
Earlier year excess proposed dividend and dividend distribution
tax (L) |
0.000 |
0.000 |
(1.800) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
10.700 |
13.600 |
|
|
|
First Interim Dividend Paid |
40.400 |
0.000 |
0.000 |
|
|
|
Dividend Tax on First Interim Dividend |
8.100 |
0.000 |
0.000 |
|
|
|
Proposed Final Dividend |
28.900 |
28.900 |
28.900 |
|
|
|
Dividend tax payable |
5.800 |
5.100 |
4.700 |
|
|
BALANCE CARRIED
TO THE B/S |
386.000 |
216.000 |
154.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB Basis] |
0.000 |
2.700 |
43.929 |
|
|
TOTAL EARNINGS |
0.000 |
2.700 |
43.929 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
422.600 |
315.100 |
271.503 |
|
|
|
Stores & Spares |
2.100 |
0.100 |
4.189 |
|
|
|
Capital Goods |
127.100 |
15.400 |
0.000 |
|
|
TOTAL IMPORTS |
551.800 |
330.600 |
275.692 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.92 |
9.24 |
4.98 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
80.000 |
80.000 |
62.400 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
653.500 |
214.500 |
339.242 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.19 |
0.57 |
1.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.54 |
1.80 |
2.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.59 |
6.44 |
7.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.19 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.18 |
0.46 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.04 |
1.08 |
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 |
115.500 |
115.500 |
115.500 |
|
Reserves & Surplus |
757.238 |
828.300 |
996.100 |
|
Net
worth |
872.738 |
943.800 |
1111.600 |
|
|
|
|
|
|
long-term borrowings |
317.600 |
170.000 |
90.000 |
|
Short term borrowings |
63.493 |
183.000 |
25.200 |
|
Current maturities of
long-term debts |
62.400 |
80.000 |
80.000 |
|
Total
borrowings |
443.493 |
433.000 |
195.200 |
|
Debt/Equity
ratio |
0.508 |
0.459 |
0.176 |
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) |
|
Revenue from operations |
13679.191 |
18753.000 |
21357.800 |
|
|
|
37.091 |
13.890 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operations |
13679.191 |
18753.000 |
21357.800 |
|
Profit |
136.155 |
106.700 |
253.200 |
|
|
1.00% |
0.57% |
1.19% |
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 |
No |
|
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 |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
7.300 |
9.000 |
|
|
|
|
|
Total |
7.300 |
9.000 |
LITIGATION
DETAILS
CHENNAI COURT
CASE STATUS INFORMATION SYSTEM
|
CASE STATUS: |
Pending |
|
STATUS OF: |
Civil Misc. Appeal
|
|
CASE NO.: |
1662 |
|
YEAR : |
2011 |
|
LITIGANTS : |
The Commissioner
Of Central Vs. M/S. Sundaram Auto Components |
|
PET'S ADVOCATE : |
M/S. P.
Buvaneswari SCGSC |
|
RES'S ADVOCATE : |
M/S. S. Jaikumar |
|
CATEGORY : |
Excise/Prohibition/Customs |
|
LAST LISTED ON: |
Thursday, June 18,
2015 |
|
CASE UPDATED ON : |
Friday, June 19,
2015 |
FINANCIAL HIGHLIGHTS
The Company earned a profit before tax (PBT) (before exceptional items) of Rs. 364.600 Million as against Rs. 172.900 Million in the previous year, registering a growth of 111%. Total revenue for the year stood at Rs. 21373.600 Million as against Rs. 18770.700 Million in the previous year.
The Company has secured new orders to be executed over a period of time from the current year. The Company has been nominated as a key supplier for safety critical parts for Autoliv and Takata.
BUSINESS OUTLOOK
The US economy is expected to show steady growth but EU market is projected to be sluggish. In Indian market, the GDP is expected to be at 6.5% and the inflation is expected to stabilize at 5% levels.
Two wheeler segment is expected to grow only by 7%-8% in 2015-16 as un-seasonal rain is expected to hit rural demand. The growth in this segment will continue to be driven by urban demand in terms of scooters and high end motorcycles. Commercial vehicle segment is expected to see a growth of 12-15% owing to lower interest rates and lower diesel prices. The passenger vehicle segment is expected to grow at 10% owing to lower base, easing of interest rates and new product launches. This will have a growth to the Company’s overall sales during the year 2015-16.
INDUSTRY PERFORMANCE
During the year, the two wheeler industry grew by 9% on strong demand for scooters due to lower penetration of scooters in the market and a slew of new launches by OEMs with sharper positioning of products to target male and female customers.
The passenger car industry saw a marginal growth of 4% on account of higher interest rates.
The heavy commercial vehicles registered a 17% growth owing to a lower base last year, lower diesel prices, increased infrastructure activity and resumption of mining activities during the end of the year.
|
CATEGORY |
2014-15 NOS. IN LAKHS |
2013.14 NOS. IN LAKHS |
GROWTH (%) |
|
|
|
|
|
|
Two wheelers |
184 |
169 |
9 |
|
|
|
|
|
|
Cars and MUVs |
32.2 |
31 |
4 |
|
|
|
|
|
|
Medium and Heavy Commercial Vehicles (MHCVs) |
2.6 |
2.2 |
17 |
PRIZES / AWARDS WON
The Company was awarded the “Best supplier for system rating” by Visteon Climate Control Systems in recognition of its outstanding support
given to the customer during the year.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
80009844 |
10/07/2014 * |
856,600,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, NO.155, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA |
C10677490 |
|
2 |
80024963 |
15/03/2012 * |
335,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, NO.155, ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA |
B36731842 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
|
|
|
|
(a) On counter guarantee furnished to banks |
0.200 |
0.000 |
|
(b) On letters of credit |
210.900 |
113.755 |
|
(c) On bills of exchange drawn on customers discounted |
20.000 |
115.093 |
|
(d) On import of capital goods under Export Promotion Capital Goods scheme |
0.000 |
6.606 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Computer Software
· Licenses and Franchise
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.63.37 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.