MIRA INFORM REPORT

 

 

Report No. :

326822

Report Date :

11.06.2015

 

IDENTIFICATION DETAILS

 

Name :

LARSEN AND TOUBRO LIMITED

 

 

Registered Office :

L and T House, Ballard Estate, P. O. Box: 278, Mumbai – 400001, Maharashtra

Tel No.:

91-22-22618181

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

07.02.1946

 

 

Com. Reg. No.:

11-004768

 

 

Capital Investment / Paid-up Capital :

Rs.1859.100 Million

 

 

CIN No.:

[Company Identification No.]

L99999MH1946PLC004768

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACL0140P

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer and Seller of Electrical and Electronics, Machinery and Industrial Products, and also provide Engineering and Construction Projects.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aaa (86) 

 

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

 

Maximum Credit Limit :

USD 1060000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is one of Asia’s Largest vertically integrated engineering and construction conglomerates, with a strong market position across segments such as infrastructure, power, metallurgical material handling, heavy engineering, electrical automation and industrial machinery products. It is a well-established company having excellent track.

 

The company possesses a strong financial profile marked by decent networth base as well as capital structure along with favourable financial flexibility driven by large cash and cash equivalents and surplus current investments.

 

Moreover, it enjoys a fair liquidity profile characterised by healthy adjustable gearing and debt protection metrics.

 

Management has witnessed a decent revenue base, supported by its diversified revenue profile as well as fair net profitability and adequate margins during FY15.

 

Trade relations are fair. Business is active. Payment terms are reported as regular and as per commitments.

 

In view of an established track record of around seven decades and a strong brand image, backed by experienced promoters, the company can be considered good for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – 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

ICRA

Rating

CRI

Rating Explanation

Very strong contract execution capacity.

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 31-03-2013.

 

INFORMATION DENIED

 

MANAGEMENT NON CO-OPERATIVE (91-22-67050505)

 

LOCATIONS

 

Registered/ Head Office :

L and T House, Ballard Estate, P. O. Box: 278, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-22618181/ 22618182/ 22685656/ 67525656

Fax No.:

91-22-22620223/ 22617480/ 22685893/ 67525858/ 67525893/ 55525858

E-Mail :

sdk@lth.ltindia.com 

subhodh.shetty@larsentoubro.com

nh-sec@lth.ltindia.com 

akshay.shah@hed.itindia.com 

ss-sec@lth.ltindia.com

Website :

http://www.larsentoubro.com

 

 

ECC Division:

B and FOC, Factories and Residential BU, TCTC Building, 1st Floor, Mount Poonamallee Road, Manapakkam, P.B. No.979, Chennai – 600089, Tamilnadu, India

 

 

Corporate Office 1:

C Block, Gate No. 1, L and T Powai Campus, Saki Vihar Road, Powai, Mumbai – 400072, Maharashtra, India

Tel. No.:

91-22-67050505

Fax No.:

91-22-67051462

E-Mail :

dattaraj_kasar@lntenc.com

 

 

Corporate Office 2:

Kiadb Industrial Area, Hebbal Hootagalli, Mysore – 570018, Andhra Pradesh, India

Tel No.:

91-821-6616161

Fax No.:

91-821-2402813

 

 

Headquarter/ Holck-Larsen Centre/ Engineering Design and Research  Centre :

22 Mount Poonamallee Road, Manapakkam P.B.No.979, Chennai - 600089, Tamilnadu, India

Tel No.:

91-44-22526000

Fax No.:

91-44-22493317

E mail:

mayurak@lntecc.com

 

 
Headquarter/ Engineering, Design & Research Centres:

Kanak Building, 41, Jawaharlal Nehru Road, Kolkata - 700071, West Bengal, India 

Tel. No.:

91-33-22882601

Fax No.:

91-33-22881225

E-Mail :

indranil_r@lntecc.com

 

 

ECC Division :

ECC Division, Mial Project Office – North Block II, 6th Floor, Gate No. 1, Powai, Mumbai – 400072, Maharashtra, India

 

 

Plant:

Kanbahal works, Kanbahal, Sundargarh, Orissa, India

 

 

Factory 1 :

TLT Works, Plot No. 158-B, Sector III, Pithampur, District Dhar - 454774, Madhya Pradesh, India

Tel. No.:

91-7292-256317/ 431

Fax No.:

91-7292-256316

E-Mail :

sg-pith@lntecc.com

 

 

Factory 2 :

TLT Works, Mailam Road, Sedarapet, Pondicherry 605111, India

Tel. No.:

91-413-2672500

Fax No.:

91-413-2677727

E-Mail :

asa@lntecc.com

 

 

Factory 3 :

167, Neervalur Village, Kancheepuram - 631502, Tamilnadu, India

Tel. No.:

91-4112-27248383/ 93/ 94

Fax No.:

91-4112-27248383/ 290

E-Mail :

kasokkumar@lntecc.com 

 

 

Branch Office:

Heavy Engineering, 3rd Floor, North Block - I, Gate No.1, Powai, Mumbai, Maharashtra, India

 

 

Area Office:

Electrical Systems and Equipment 3B, Shakespeare Sarani, Kolkata -  700071, West Bengal, India 

 

 

Factory  :

Also located at :

 

  • Faridabad
  • Kandla
  • Vadodara
  • Ankleshwar
  • Hazira
  • Jafrabad
  • Kovayya
  • Nashik
  • Pune
  • Ahmednagar
  • Ratnagiri
  • Tadipatri
  • Bangalore
  • Mysore
  • Awarpur
  • Jharsuguda
  • Kansbahal
  • Ranoli (Baroda)
  • Visakhapatnam
  • Haldia

 

 

Regional Offices :

  • NCL Bandra Premises, Plot No. C/6, Bandra – Kurla Complex, P. O. Box No. 8119, Bandra (East), Mumbai - 400051, Maharashtra, India

 

  • 2, Saki Vihar Road, P. O. Box No. 8901, Mumbai – 400072, Maharashtra, India

 

  • 1/FL, Laxminarayan Complex, 10/1, Palace Road, P. O. Box 122, Bangalore – 560002, Karnataka, India

 

Also located at:

 

  • New Delhi
  • Lucknow
  • Kolkata
  • Vadodara
  • Ahmedabad
  • Arakkonam Pune
  • Hyderabad
  • Chennai
  • Bangalore

 

 

Overseas  Offices :

Located At:

 

  • Japan
  • Nepal
  • Sultanate of Oman
  • Bangladesh
  • Malaysia
  • Sweden
  • Russia
  • UK
  • USA
  • Dubai
  • Abu Dhabi
  • Sharjah
  • Saudi Arabia
  • Bahrain
  • Qatar
  • Oman
  • Kuwait
  • Kenya
  • Bhutan
  • West Indies
  • Jordan
  • Kazakhstan
  • Sri Lanka   

 

 

Area Offices :

Located At:

 

  • Ahmedabad
  • Bangalore
  • Chandigarh
  • Chennai
  • New Delhi
  • Kolkata
  • Hyderabad
  • Pune
  • Nagpur

 

 

Branch Offices :

Powai Switchgear Works, Gate No.07, Saki Vihar Road, Powai, Mumbai – 400072, Maharashtra, India

 

Located At :

 

  • Jaipur
  • Guwahati
  • Bhopal
  • Vadodara
  • Lucknow
  • Jamshedpur
  • Guwahati
  • Bhubaneswar
  • Vishakhapatnam
  • Coimbatore
  • Kochi

 

 

Engineering / Marketing Office :

12/4, Delhi Mathura Road, Near Sarai Khawaja Chowk, Faridabad – 121003, Haryana, India

Tel No.:

91-129-4291000/ 4291651/ 4291766

Fax No.:

91-129-4291222

Email:

siddharth.gupta@lntpower.com

 

 

Foundry Division :

Chettipalayam Palladam Road, Orthukuppai Village Casting Manufacturing Division, Coimbatore – 641201, Tamilnadu, India

Tel No.:

91-44-2588514

 

 

DIRECTORS

 

As on 31.03.2014

 

Name :

Mr. A. M. Naik

Designation :

Group Executive Chairman

 

 

Name :

Mr. K. Venkataramanan

Designation :

Chief Executive Officer and Managing Director

 

 

Name :

Mr. M. V. Kotwal

Designation :

Whole-time Director & President (Heavy Engineering)

 

 

Name :

Mr. S. N. Subrahmanyan

Designation :

Whole-time Director and Senior Executive Vice President (Infrastructure and Construction)

 

 

Name :

Mr. R. Shankar Raman

Designation :

Whole-time Director and Chief Financial Officer

 

 

Name :

Mr. Shailendra Roy

Designation :

Whole-time Director & Senior Executive Vice President (Power, Minerals & Metals)

 

 

Name :

Mr. S. Rajgopal

Designation :

Independent Director

 

 

Name :

Mr. S. N. Talwar

Designation :

Independent Director

 

 

Name :

Mr. M. M. Chitale

Designation :

Independent Director

 

 

Name :

Mr. Subodh Bhargava

Designation :

Independent Director

 

 

Name :

Mr. A. K. Jain

Designation :

Nominee – SUUTI

 

 

Name :

Mr. M. Damodaran

Designation :

Independent Director

 

 

Name :

Mr. Vikram Singh Sarker

Designation :

Independent Director

 

 

Name :

Mr. Sushobhan Sarker

Designation :

Nominee of LIC

 

 

Name :

Mr. Adil zainulbhai

Designation :

Independent Director

 

 

KEY EXECUTIVES

 

Name :

Mr. N. Hariharan

Designation :

Company Secretary

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 31.03.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

 

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

135914160

14.96

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

156230060

17.20

http://www.bseindia.com/include/images/clear.gifCentral Government / State Government(s)

609148

0.07

http://www.bseindia.com/include/images/clear.gifInsurance Companies

42708526

4.70

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

156172982

17.19

http://www.bseindia.com/include/images/clear.gifSub Total

491634876

54.13

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

74650532

8.22

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 Million

183436643

20.20

Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million

13911234

1.53

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

144662303

15.93

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

2511947

0.28

http://www.bseindia.com/include/images/clear.gifForeign Corporate Bodies

3432

0.00

http://www.bseindia.com/include/images/clear.gifForeign Nationals

385608

0.04

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

7735698

0.85

http://www.bseindia.com/include/images/clear.gifTrusts

111606174

12.29

http://www.bseindia.com/include/images/clear.gifForeign Portfolio Investors

22419444

2.47

http://www.bseindia.com/include/images/clear.gifSub Total

416660712

45.87

Total Public shareholding (B)

908295588

100.00

 

 

 

Total (A)+(B)

908295588

100.00

 

 

 

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

21266473

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

21266473

0.00

 

 

 

Total (A)+(B)+(C)

929562061

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Seller of Electrical and Electronics, Machinery and Industrial Products, and also provide Engineering and Construction Projects.

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

¨       State Bank of India

¨       Bank of India

¨       Central Bank of India

 

 

Facilities :

SECURED LOANS

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Redeemable non-convertible fixed rate debentures

NA

4000.000

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from banks

NA

1044.500

Short term loans and advances from banks

NA

1039.200

Short term borrowings against Government Securities

NA

6988.600

 

 

 

Total

NA

13072.300

 

Auditors :

 

Name :

Sharp and Tannan

Chartered Accountants

 

 

Solicitors:

Manilal Kher Ambalal and Company

 

 

Related Parties :

1 L&T Cutting Tools Limited (formerly known as Tractor Engineers Limited)  - Wholly owned Subsidiary

2 Bhilai Power Supply Company Limited - Subsidiary*

3 L&T-Sargent & Lundy Limited - Subsidiary*

4 Spectrum Infotech Private Limited - Wholly owned Subsidiary

5 L&T-Valdel Engineering Limited  - Wholly owned Subsidiary

6 L&T Shipbuilding Limited - Subsidiary*

7 L&T Electricals and Automation Limited - Wholly owned Subsidiary

8 Hi Tech Rock Products & Aggregates Limited - Wholly owned Subsidiary

9 L&T Seawoods Private Limited - Wholly owned Subsidiary

10 L&T-Gulf Private Limited - Subsidiary*

11 L&T-MHI Boilers Private Limited - Subsidiary*

12 L&T-MHI Turbine Generators Private Limited - Subsidiary*

13 Raykal Aluminium Company Private Limited - Subsidiary*

14 L&T Natural Resources Limited - Wholly owned Subsidiary

15 L&T Hydrocarbon Engineering Limited (formerly known as L&T Technologies Limited) - Wholly owned Subsidiary

16 L&T Special Steels and Heavy Forgings Private Limited - Subsidiary*

17 PNG Tollway Limited - Subsidiary**

18 L&T Rajkot - Vadinar Tollway Limited - Subsidiary of L&T Infrastructure Development Projects Limited #

19 Kesun Iron & Steel Company Private Limited - Subsidiary*

20 L&T Howden Private Limited - Subsidiary*

21 L&T Solar Limited Wholly owned - Subsidiary

22 L&T Sapura Shipping Private Limited - Subsidiary*

23 L&T Sapura Offshore Private Limited - Subsidiary*

24 L&T Powergen Limited - Wholly owned Subsidiary

25 Ewac Alloys Limited - Wholly owned Subsidiary

26 L&T Kobelco Machinery Private Limited - Subsidiary*

27 L&T Realty Limited - Wholly owned Subsidiary

28 L&T Asian Realty Project LLP - Subsidiary of L&T Realty Limited #

29 L&T Parel Project LLP - Subsidiary of L&T Realty Limited

30 Chennai Vision Developers Private Limited - Wholly owned Subsidiary of L&T Realty Limited

31 L&T Urban Infrastructure Limited ^^^  - Wholly owned subsidiary

32 L&T South City Projects Limited - Subsidiary of L&T Realty Limited#

33 L&T Siruseri Property Developers Limited@@@ - Wholly owned Subsidiary of L&T South City Projects Limited #

34 L&T Vision Ventures Limited - Subsidiary of L&T Realty Limited #

35 L&T Tech Park Limited - Subsidiary of L&T Realty Limited #

36 L&T Bangalore Airport Hotel Limited@ - Subsidiary of L&T Realty Limited #

37 CSJ Infrastructure Private Limited - Subsidiary of L&T Realty Limited #

38 L&T Chennai Projects Private Limited @@ - Subsidiary of L&T Realty Limited #

39 L&T Power Limited - Subsidiary*

40 L&T Cassidian Limited - Subsidiary*

41 L&T General Insurance Company Limited - Wholly owned Subsidiary

42 L&T Aviation Services Private Limited - Wholly owned Subsidiary

43 L&T Infocity Limited - Subsidiary*

44 L&T Hitech City Limited - Subsidiary of L&T Infocity Limited #

45 Hyderabad International Trade Expositions Limited - Subsidiary of L&T Infocity Limited #

46 Larsen & Toubro Infotech Limited - Wholly owned Subsidiary

47 GDA Technologies Limited - Wholly owned Subsidiary of Larsen & Toubro Infotech Limited

48 L&T Finance Holdings Limited - Subsidiary*

49 L&T Finance Limited - Wholly owned Subsidiary of L&T Finance Holdings Limited

50 L&T Investment Management Limited - Wholly owned Subsidiary of L&T Finance Holdings Limited

51 L&T Mutual Fund Trustee Limited - Wholly owned Subsidiary of L&T Finance Holdings Limited

52 L&T FinCorp Limited - Wholly owned Subsidiary of L&T Finance Holdings Limited

53 L&T Infrastructure Finance Company Limited - Wholly owned Subsidiary of L&T Finance Holdings Limited

54 L&T Infra Investment Partners Advisory Private Limited - Wholly owned Subsidiary of L&T Infrastructure Finance Company Limited

55 L&T Infra Investment Partners Trustee Private Limited - Wholly owned Subsidiary of L&T Infrastructure Finance Company Limited

56 L&T Vrindavan Properties Limited (formerly known as L&T Unnati Finance Limited) - Wholly owned Subsidiary of L&T Finance Holdings Limited

57 L&T Access Distribution Services Limited (formerly known as L&T Access Financial Advisory Services Limited) - Wholly owned Subsidiary of L&T Finance Holdings Limited

58 L&T Capital Company Limited - Wholly owned Subsidiary

59 L&T Trustee Company Private Limited - Wholly owned Subsidiary of L&T Capital Company Limited

60 L&T Power Development Limited - Wholly owned Subsidiary

61 L&T Uttaranchal Hydropower Limited - Wholly owned Subsidiary of L&T Power Development Limited

62 L&T Arunachal Hydropower Limited - Wholly owned Subsidiary of L&T Power Development Limited

63 L&T Himachal Hydropower Limited - Wholly owned Subsidiary of L&T Power Development Limited

64 Nabha Power Limited - Wholly owned Subsidiary of L&T Power Development Limited

65 L&T Infrastructure Development Projects Limited - Subsidiary*

66 L&T Panipat Elevated Corridor Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

67 Narmada Infrastructure Construction Enterprise Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

68 L&T Krishnagiri Thopur Toll Road Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

69 L&T Western Andhra Tollways Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

70 L&T Vadodara Bharuch Tollway Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

71 L&T Transportation Infrastructure Limited - Subsidiary of L&T Infrastructure Development Projects Limited

72 L&T Western India Tollbridge Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

73 L&T Interstate Road Corridor Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

74 International Seaports (India) Private Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

75 L&T Port Kachchigarh Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

76 L&T Ahmedabad - Maliya Tollway Limited - Subsidiary of L&T Infrastructure Development Projects Limited

77 L&T Halol - Shamlaji Tollway Limited - Subsidiary of L&T Infrastructure Development Projects Limited

78 L&T Krishnagiri Walajahpet Tollway Limited - Subsidiary of L&T Infrastructure Development Projects Limited

79 L&T Devihalli Hassan Tollway Limited - Subsidiary of L&T Infrastructure Development Projects Limited

80 L&T Metro Rail (Hyderabad) Limited - Subsidiary of L&T Infrastructure Development Projects Limited

81 L&T Transco Private Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

82 L&T Chennai – Tada Tollway Limited - Subsidiary of L&T Infrastructure Development Projects Limited#

83 L&T BPP Tollway Limited Wholly owned - Subsidiary of L&T Infrastructure Development Projects Limited

84 L&T Deccan Tollways Limited Wholly owned - Subsidiary of L&T Infrastructure Development Projects Limited

85 L&T Samakhiali Gandhidham Tollway Limited - Subsidiary of L&T Infrastructure Development Projects Limited#

86 Larsen & Toubro LLC Subsidiary*

87 Larsen & Toubro Infotech, GmbH - Wholly owned Subsidiary of Larsen & Toubro Infotech Limited

88 Larsen & Toubro Infotech Canada Limited - Wholly owned Subsidiary of Larsen & Toubro Infotech Limited

89 Larsen & Toubro Infotech LLC - Wholly owned Subsidiary of Larsen & Toubro Infotech Limited

90 L&T Infotech Financial Services Technologies Inc. - Wholly owned Subsidiary of Larsen & Toubro Infotech Limited

91 GDA Technologies Inc. ^ - Wholly owned Subsidiary of Larsen & Toubro Infotech Limited

92 L&T Infrastructure Development Projects Lanka (Private) Limited - Subsidiary of L&T Infrastructure Development Projects Limited #

93 Peacock Investments Limited$ - Wholly owned Subsidiary of L&T Capital Company Limited

94 Mango Investments Limited$ - Wholly owned Subsidiary of L&T Capital Company Limited

95 Lotus Infrastructure Investments Limited$ - Wholly owned Subsidiary of L&T Capital Company Limited

96 L&T Diversified India Equity Fund - Wholly owned Subsidiary of L&T Capital Company Limited

97 L&T Asset Management Company Limited$ - Wholly owned Subsidiary of L&T Capital Company Limited

98 L&T Realty FZE - Wholly owned Subsidiary of L&T Realty Limited

99 Larsen & Toubro International FZE - Wholly owned Subsidiary

100 Larsen & Toubro (Oman) LLC - Subsidiary of Larsen & Toubro International FZE #

101 Larsen & Toubro Electromech LLC - Subsidiary of Larsen & Toubro International FZE #

102 L&T Modular Fabrication Yard LLC - Subsidiary of Larsen & Toubro International FZE #

103 Larsen & Toubro (East Asia) SDN.BHD - Subsidiary of Larsen & Toubro International FZE ##

104 Larsen & Toubro Qatar LLC - Subsidiary of Larsen & Toubro International FZE ##

105 L&T Overseas Projects Nigeria Limited - Subsidiary of Larsen & Toubro International FZE

106 L&T Electricals & Automation Saudi Arabia Company Limited, LLC - Subsidiary of Larsen & Toubro International FZE #

107 Larsen & Toubro Kuwait Construction General Contracting Company, W.L.L. - Subsidiary of Larsen & Toubro International FZE ##

108 Larsen & Toubro (Qingdao) Rubber Machinery Company Limited - Wholly owned Subsidiary of Larsen & Toubro International FZE

109 Qingdao Larsen & Toubro Trading Company Limited@@@ - Wholly owned Subsidiary of Larsen &Toubro (Qingdao) Rubber Machinery Company Limited

110 Larsen & Toubro Readymix Concrete Industries LLC - Subsidiary of Larsen & Toubro International FZE ##

111 Larsen & Toubro Saudi Arabia LLC - Subsidiary of Larsen & Toubro International FZE

112 Larsen & Toubro ATCO Saudia LLC - Subsidiary of Larsen & Toubro International FZE

113 Tamco Switchgear (Malaysia) SDN. BHD - Wholly owned Subsidiary of Larsen & Toubro International FZE

114 Tamco Electrical Industries Australia Pty Limited - Wholly owned Subsidiary of Larsen & Toubro International FZE115 PT Tamco Indonesia Subsidiary of Larsen & Toubro International FZE

116 Larsen & Toubro Heavy Engineering LLC - Subsidiary of Larsen & Toubro International FZE #

117 L&T Electrical & Automation FZE - Wholly owned Subsidiary of Larsen & Toubro International FZE

118 Larsen & Toubro Consultoria E Projeto Ltda Subsidiary of Larsen & Toubro International FZE

119 Larsen & Toubro T&D SA Proprietary Limited - Subsidiary of Larsen & Toubro International FZE #

120 L&T East-West Tollway Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

121 L&T Great Eastern Highway Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

122 Servowatch System Limited - Wholly owned Subsidiary of Larsen & Toubro International FZE

123 L&T Geostructure LLP - Subsidiary*

124 Larsen Toubro Arabia LLC - Subsidiary*

125 Henikwon Corporation SDN. BHD - Wholly owned Subsidiary of Tamco Switchgear (Malaysia) SDN. BHD

126 L&T Housing Finance Limited - Wholly owned Subsidiary of L&T Finance Holdings Limited

127 L&T Tejomaya Limited - Subsidiary of L&T Realty Limited #

128 L&T Valves Limited (formerly known as Audco India Limited) - Wholly owned Subsidiary

129 L&T Technology Services Limited Wholly owned Subsidiary

130 CSJ Hotels Private Limited - Wholly owned Subsidiary of CSJ Infrastructure Private Limited

131 L&T Consumer Finance Services Limited - Wholly owned Subsidiary of L&T Housing Finance Limited

132 Family Credit Limited - Wholly owned Subsidiary of L&T Finance Holdings Limited

133 L&T Capital Markets Limited - Wholly owned Subsidiary of L&T Finance Holdings Limited

134 L&T Infra Debt Fund Limited - Wholly owned Subsidiary of L&T Finance Holdings Limited

135 L&T Trustee Services Private Limited - Wholly owned Subsidiary of L&T Mutual Fund Trustee Limited

136 L&T Fund Management Private Limited$$ - Wholly owned Subsidiary of L&T Finance Holdings Limited

137 Larsen & Toubro Infotech South Africa (PTY) Limited - Subsidiary of Larsen & Toubro Infotech Limited

138 Thalest Limited - Wholly owned Subsidiary of Larsen & Toubro International FZE

139 Bond Instrumentation & Process Control Limited% - Wholly owned Subsidiary of Thalest Limited

140 L&T Construction Equipment Limited (formerly known as L&T-Komatsu Limited) ^^ - Wholly owned Subsidiary

141 Kudgi Transmission Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

142 L&T Sambhalpur Rourkela Tollway limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

143 Larsen & Toubro Hydrocarbon International Limited LLC - Subsidiary*

144 L&T Information Technology Services (Shanghai) Co. Limited - Wholly owned Subsidiaryof Larsen & Toubro Infotech Limited

145 Kana Controls General Trading & Contracting Company W.L.L. – Subsidiary of L&T Electrical & Automation FZE##

146 Mudit Cement Private Limited - Wholly owned subsidiary of L&T Vrindavan Properties Limited

147 L&T IDPL Trustee Manager Pte Limited - Wholly owned Subsidiary of L&T Infrastructure Development Projects Limited

148 PT Larsen & Toubro Hydrocarbon Engineering Indonesia - Subsidiary*

 

NOTE:

 

* The Company holds more than one-half in nominal value of the equity share capital

** The Company, together with its subsidiaries holds more than one-half in nominal value of the equity share capital

@ The Company has sold its shares on January 24, 2014

@@ The Company has sold its stake on October 3, 2013

@@@ The Company is in the process of being wound up

# The Company’s subsidiary/wholly owned subsidiary holds more than one-half in nominal value of the equity share capital

## The Company, together with its subsidiaries controls the composition of the Board of Directors

% The Company has been liquidated with effect from August 20, 2013

^ The Company has been dissolved with effect from March 28, 2014.

^^ Associate became a wholly owned subsidiary w.e.f. April 15, 2013

^^^ The Company has been merged with L&T Realty Limited w.e.f. April 1, 2012 pursuant to High Court order

$ The Company has been liquidated w. e. f. December 2, 2013

$$ The Company has been merged with L&T Investment Management Limited w.e.f. November 22, 2013

 

 

Associate companies:

1 L&T-Chiyoda Limited

2 Salzer Electronics Limited

3 L&T Ramboll Consulting Engineers Limited

4 Magrtorq Private Limited

5 JSK Electricals Private Limited

6 Feedback Ventures Limited

 

 

Joint ventures (other than associates):

1 Metro Tunneling Group

2 L&T Hochtief Seabird Joint Venture

3 Desbuild-L&T Joint Venture

4 Metro Tunneling Chennai L&T SUCG Joint Venture

5 L&T-AM Tapovan Joint Venture

6 HCC-L&T Purulia Joint Venture

7 The Dhamra Port Company Limited

8 L&T Shanghai Urban Construction (Group) Corporation Joint Venture

9 L&T-Shanghai Urban Construction (Group) CC27 Delhi

10 L&T-Eastern Joint Venture

11 L&T-Shapoorji Pallonji-TCS

12 Metro Tunneling Delhi L&T SUCG Joint venture

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital : Not Available

 

Issued, Subscribed & Paid-up Capital : Rs.1859.100 Million

 

AS ON 22.08.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1625000000

Equity Shares

Rs.2/- each

Rs.3250.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

929562061

Equity Shares

Rs.2 /- each

Rs.1859.124 Million

 

 

 

 

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1625000000

Equity Shares

Rs.2/- each

Rs.3250.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

926912658

Equity Shares

Rs.2 /- each

Rs.1853.800 Million

 

 

 

 

 

Reconciliation of the number of equity shares and share capital:

 

Particulars

31.03.2014

 

Number of

shares

Rs. In Million

Issued, subscribed and fully paid up equity shares outstanding at beginning of the year

615385981

1230.800

Add: Shares issued on exercise of employee stock options during the year

323210

6.500

Add: Shares issued as bonus on July 15, 2013

308294576

616.500

Issued, subscribed and fully paid up equity shares outstanding at the end of the year

926912658

1853.800

 

Terms/rights attached to equity shares:

 

The Company has only one class of share capital, i.e. equity shares having face value of 2 per share. Each holder of equity share is entitled to one vote per share.

 

Shareholder holding more than 5% of equity shares as at the end of the year:

 

Particulars

31.03.2014

 

Number of

shares

Shareholding

%

Life Insurance Corporation of India

157556473

17.00%

L and T Employees Welfare Foundation

111606174

12.04%

Administrator of the Specified Undertaking of the Unit Trust of India

75925962

8.19%

 

 

Shares reserved for issue under options outstanding as at the end of the year on un-issued share capital:

 

Particulars

31.03.2014

 

Number of

shares

Rs. In Million

(At face value)

Employee stock options granted and outstanding #

9866116@

1.97*

3.5% 5 years & 1 day US$ denominated foreign currency convertible bonds (FCCB) ##

7360864@

1.477**

 

 

* The equity shares will be issued at a premium of 3674.300 million (previous year: 4919.600 Million)

**The equity shares will be issued at a premium of 9349.300 Million (previous year: 9354.200 Million) on the exercise of options by the bond holders

# Terms of employee stock option schemes

## Terms of foreign currency convertible bonds

@The number of options have been adjusted consequent to bonus issue wherever applicable

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

1859.100

1853.800

1230.800

(b) Reserves & Surplus

368986.700

334764.500

290196.400

(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)

370845.800

336618.300

291427.200

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

85086.000

54781.400

72710.300

(b) Deferred tax liabilities (Net)

3629.900

4099.200

2422.200

(c) Other long term liabilities

1196.200

935.700

5020.300

(d) long-term provisions

3504.500

2996.100

2859.200

Total Non-current Liabilities (3)

93416.600

62812.400

83012.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

37910.800

38760.400

7345.300

(b)  Current maturities of long term borrowings

6369.100

21047.400

8286.500

(c) Trade payables

188447.700

163454.500

169326.500

(d) Other current liabilities

147038.800

139217.600

144004.700

(e) Short-term provisions

25008.800

21135.200

20838.100

Total Current Liabilities (4)

404775.200

383615.100

349801.100

 

 

 

 

TOTAL

869037.600

783045.800

724240.300

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

79814.000

75608.100

82187.500

(ii) Intangible Assets

0.000

1139.900

863.900

(iii) Capital work-in-progress

0.000

4118.600

4910.500

(iv) Intangible assets under development

0.000

1505.500

1057.900

(b) Non-current Investments

176728.200

151684.100

105227.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

27208.300

37215.700

36690.700

(e) Cash and bank balances

0.000

95.400

390.200

(f) Other Non-current assets

1278.600

532.400

433.000

Total Non-Current Assets

285029.100

271899.700

231760.700

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

53800.800

40462.300

55806.900

(b) Inventories

22077.900

19825.300

20641.800

(c) Trade receivables

230511.100

215387.600

226130.100

(d) Cash and cash equivalents

15158.000

17828.600

14556.600

(e) Short-term loans and advances

78123.500

63456.500

57437.600

(f) Other current assets

184337.200

154185.800

117906.600

Total Current Assets

584008.500

511146.100

492479.600

 

 

 

 

TOTAL

869037.600

783045.800

724240.300

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

 

31.03.2013

 

SALES

 

 

 

 

 

Revenue from operations (Net)

570174.100

565989.200

516109.600

 

 

Other Income

22833.700

18808.900

18872.900

 

 

TOTAL                                     (A)

593007.800

584798.100

534982.500

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of raw material components consumed 

70561.200

60028.000

75749.300

 

 

Construction material consumed

187618.900

159735.500

139270.000

 

 

Purchase of stock in trade

12967.500

19221.600

20632.300

 

 

Stores spares and tools consumed

0.000

20540.700

20930.900

 

 

Sub-contracting charges

132325.700

132729.400

121914.800

 

 

Changes in inventories of finished goods and operating  expense  

(2785.300)

1100.300

(10908.700)

 

 

Other manufacturing, construction and operating expenses

43277.500

40109.000

34459.700

 

 

Employee benefit expense

41508.400

46623.700

38609.300

 

 

Sales and administration and other expense  

19821.500

19320.300

20856.600

 

 

Extraordinary items

0.000

0.000

(781.100)

 

 

Overheads charged to fixed assets

0.000

(89.500)

(136.000)

 

 

Exceptional items

(3571.600)

(5885.000)

(1762.400)

 

 

TOTAL                                     (B)

501723.800

493434.000

458834.700

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

91284.000

91364.100

76147.800

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

14190.300

10760.800

9547.500

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

77093.700

80603.300

66600.300

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

10081.500

7924.200

7277.400

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

67012.200

72679.100

59322.900

 

 

 

 

 

Less

TAX                                                                  (H)

16450.400

17747.800

10216.400

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

50561.800

54931.300

49106.500

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

3334.500

2857.500

1523.900

 

 

 

 

 

Less

Dividend paid for previous year

NA

23.800

27.100

Less

Transfer to Debenture redemption reserve

NA

4.000

0.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

NA

40000.000

35000.000

 

 

Transfer to Debenture Redemption Reserve

NA

440.000

502.500

 

 

Proposed Dividend

NA

13208.500

11384.700

 

 

Additional tax on dividend

NA

778.000

858.600

 

BALANCE CARRIED TO THE B/S

NA

3334.500

2857.500

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export of goods

NA

10067.200

10160.300

 

 

Construction and project related activities

NA

67284.000

106938.900

 

 

Export of services

NA

16143.900

13197.700

 

 

Commission

NA

67.300

190.800

 

 

Interest received

NA

0.200

0.500

 

 

Other receipts

NA

534.900

748.700

 

TOTAL EARNINGS

NA

94097.500

131236.900

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

19543.600

19613.400

 

 

Components & Spare Pats

NA

17019.300

30511.900

 

 

Capital Goods

NA

2053.700

3779.300

 

TOTAL IMPORTS

NA

38616.600

53904.600

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

 

 

Basic

54.46

59.36

52.55

 

Diluted

54.10

59.00

52.55

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

(40162.600)

(18230.400)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin PAT/ Sales

(%)

8.87

9.71

9.51

 

 

 

 

 

PBIDT / Sales

(%)

16.01

16.14

14.75

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

10.08

12.35

10.29

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.18

0.22

0.20

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.33

0.28

0.27

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.44

1.33

1.41

 

 

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

1230.800

1853.800

1859.100

Reserves & Surplus

290196.400

334764.500

368986.700

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

291427.200

336618.300

370845.800

 

 

 

 

long-term borrowings

72710.300

54781.400

85086.000

Short term borrowings

7345.300

38760.400

37910.800

Total borrowings

80055.600

93541.800

122996.800

Debt/Equity ratio

0.275

0.278

0.332

 

 

 

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

516109.600

565989.200

570174.100

 

 

9.665

0.739

 

 

 

 

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

516109.600

565989.200

570174.100

Profit

49106.500

54931.300

50561.800

 

9.51%

9.71%

8.87%

 

 

 

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

Yes

8

Designation of contact person

Yes

9

Promoter’s background

No

10

Date of Birth of Proprietor / Partners / Directors

No

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

No

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

---

33

Market information

---

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

LITIGATION DETAILS

 

CASE DETAILS

BENCH:-BOMBAY

 

Presentation Date:-

26/02/2015

Lodging No.:-

WPL/572/2015

Filing Date:-

26/02/2015

 

 

Petitioner:-

VISUL DEFENCE TECHNOLOGY PVT. LTD

 

Respondent:-

LARSEN AND TOUBRO LTD.

 

 

Petn.Adv.:-

Charles J DE Souza (I3609)

 

Resp.Adv.:-

Manilal Kher Ambalal and Company (101)

 

 

District:-

MUMBAI

 

 

Bench:-

DIVISION

Status:-

Pre-Admission

Category:-

WRIT PETITION(OTHERS)

 

Next Date:-

10/06/2015

Stage:-

FOR ADMISSION – FRESH [ORIGINAL SIDE MATTERS]

 

Coram:-

HON'BLE SHRI JUSTICE V.M. KANADE

 

HON'BLE SHRI JUSTICE B.P. COLABAWALLA

 

Last Date:-

01/04/2015

Stage:-

FOR ADMISSION [ORIGINAL SIDE MATTERS]

 

Last Coram:-

HON'BLE SHRI JUSTICE V.M. KANADE

 

HON'BLE SHRI JUSTICE A.R. JOSHI

 

 

Act :-

Constitution of India

 

UNSECURED LOANS

 

PARTICULAR

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Redeemable non-convertible fixed rate debentures

NA

10500.000

Redeemable non-convertible inflation linked debentures

NA

1053.400

3.50% Foreign currency convertible bonds

NA

0.000

Term loans from banks

NA

39217.300

Sales tax deferment loan

NA

10.700

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from banks

NA

812.200

Short term loans and advances from banks

NA

27737.900

Loans from related parties (Subsidiary companies)

NA

1138.000

 

 

 

Total

NA

80469.500

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10398963

04/12/2012

225,694,754.00

CHENNAI METRO RAIL LIMITED

NO.7, "HARINI TOWERS",, CONRAN SMITH ROAD, GOPALA 
PURAM, CHENNAI, TAMIL NADU - 600086, INDIA

B66434689

2

10148310

21/01/2011 *

4,000,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA 
LLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA

B04764122

3

90213928

15/02/2003

100,000,000.00

STATE ANK OD INDIA

CAG BRANCH, NARIMNA POINT, MUMBAI, MAHARASHTRA - 
400021, INDIA

-

4

90214910

02/11/2002

1,150,000,000.00

UTI BANK LTD

OFFICE : MAKER TOWERS (F) 13 FLOOR CUFFE PARADE, M 
UMBAI, MAHARASHTRA - 400005, INDIA

-

5

90213817

25/02/2002

100,000,000.00

THE INDDUSTRIAL CREDIT AND INVESTMENT CORPORATION 
OF INDIA L

163 BACKBAY RECLAMATION, MUMBAI, MAHARASHTRA - 400 
020, INDIA

-

6

90213735

10/06/2002 *

10,000,000.00

UTI BANK LIMITED

MAKER TOWER (F) 13 FLOOR CUFFICE PARADE, MUMBAI, 
MAHARASHTRA - 400005, INDIA

-

7

90213721

13/12/1998 *

40,000,000.00

EXPORT IMPORT BANK OF INDIA

CENTRA ONE FLOOR 21 TRADE CENTRE, CUFFE PARADE, 
MUMBAI, MAHARASHTRA - 400005, INDIA

-

8

90214851

15/10/2001 *

75,000,000.00

UTI BANK LTD

OFFICE MAKER TOWER 13 FLOOR CUFE PARADE, MUMBA 
I, MUMBAI, MAHARASHTRA - 400005, INDIA

-

9

90213610

28/11/2000 *

500,000.00

ICICI LIMITED

ICIVU TOWER, BADRA(E) MUMBAI, MUMBAI, MAHARASHTRA 
- 400051, INDIA

-

10

90214796

28/03/2000

1,200,000,000.00

UTI BANK LTD

OFFICE MAKER TOWER 13 FLOOR CUFE PARADE, MUMBA 
I, MUMBAI, MAHARASHTRA - 400005, INDIA

-

 

* Date of charge modification

 

 

 

 

CONTINGENT LIABILITIES:

 

PARTICULAR

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

Claims against the Company not acknowledged as debts

NA

1847.500

Sales-tax liability that may arise in respect of matters in appeal

NA

1221.100

Excise duty/Service Tax liability that may arise in respect of matters in appeal/challenged by the Company in WRIT

NA

418.000

Income-tax liability (including penalty) that may arise in respect of which the Company is in appeal

NA

4635.800

Corporate guarantees for debt given on behalf of Subsidiary companies

NA

37728.500

Corporate guarantees for performance given on behalf of Subsidiary companies

NA

56270.700

 

NOTE:

 

  1. The Company does not expect any reimbursements in respect of the above contingent liabilities.

 

  1. It is not practicable to estimate the timing of cash outflows, if any, in respect of matters at (a) to (d) above pending resolution of the arbitration/appellate proceedings.

 

  1. In respect of matters at (e), the cash outflows, if any, could generally occur up to thirteen years, being the period over which the validity of the guarantees extends except in a few cases where the cash outflows, if any, could occur any time during the subsistence of the borrowing to which the guarantees relate.

 

  1. In respect of matters at (f), the cash outflows, if any, could generally occur up to four years, being the period over which the validity of the guarantees extends.

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and Equipment
  • Computers
  • Office Equipment
  • Furniture and Fixtures
  • Vehicles

 

 

 

 

 

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.63.88

UK Pound

1

Rs.98.47

Euro

1

Rs.72.15

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

10

PAID-UP CAPITAL

1~10

9

OPERATING SCALE

1~10

10

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

10

--PROFITABILIRY

1~10

9

--LIQUIDITY

1~10

10

--LEVERAGE

1~10

9

--RESERVES

1~10

9

--CREDIT LINES

1~10

10

--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

 

86

 

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.