MIRA INFORM REPORT

Report No. :	324776
Report Date :	27.05.2015

IDENTIFICATION DETAILS

Name :	TVS AUTOMOBILE SOLUTIONS LIMITED (w.e.f. 07.12.2010)
Formerly Known As :	MY AUTOMOTIVE INTEGRATED SERVICES LIMITED (w.e.f. 25.10.2010) MY AUTOMOTIVE INTEGRATED SERVICES PRIVATE LIMITED
Registered Office :	TVS Building, 7 B West Veli Street, Madurai – 625001, Tamilnadu
Tel. No.:	91-452-2356400
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	24.04.2009
Com. Reg. No.:	18-071439
Capital Investment / Paid-up Capital :	Rs. 48.882 Million
CIN No.: [Company Identification No.]	U34100TN2009PLC071439
TAN No.: [Tax Deduction & Collection Account No.]	MRIM02102C
PAN No.: [Permanent Account No.]	AAGCM0329K
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is engaged in the business of providing multi brand car repair services, 24/7 roadside assistance services and trading of spares.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

B (31)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 920000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of TVS and Sons. It is an established company having moderate track record. The company has incurred continuous losses from its operation. External borrowings has also been recorded by the company during FY 2014. However, trade relations are reported to be fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealing with some caution.

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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DENIED

Management Non –cooperative (91-452-2356400)

LOCATIONS

Registered Office :	TVS Building, 7 B West Veli Street, Madurai – 625001, Tamilnadu, India
Tel. No.:	91-452-2356400
Fax No.:	91-452-2341587
E-Mail :	ramakrishnamk@tvs.in raghumath.ravi@tvssons.com
Website :	http://www.mytvs.in
Chennai Office :	New No. 58,Eldams Road ,Teynampet, Chennai - 600018, Tamilnadu, India
Tel. No.:	91-44-66857777

DIRECTORS

As on 29.09.2014

Name :

Mr. Ramachandhran Dinesh

Designation :

Director

Address :

Old No. 3, New No. 5, Besant Road, Chokkikulam Po, Madurai – 625002, Tamilnadu, India

Date of Birth/Age :

25.02.1965

Date of Appointment :

13.12.2010

DIN No.:

00363300

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U34101TN1929PLC002973	T.V. SUNDRAM IYENGAR & SONS LIMITED	Managing director	01/04/2013	27/05/1998	-	Active	NO
2	U72300TN1997PLC039110	TVS INTERCONNECT SYSTEMS LIMITED	Director	28/09/1998	28/09/1998	24/09/2013	Active	NO
3	U35202TN1998PLC041466	IRIZAR TVS LIMITED	Director	23/11/1998	23/11/1998	-	Active	NO
4	U63011TN2004PLC054655	TVS LOGISTICS SERVICES LIMITED	Managing director	06/11/2013	16/11/2004	-	Active	NO
5	U72900TN2007PLC063049	India Telecom Infra Limited	Director	09/04/2007	09/04/2007	04/03/2008	Amalgamated	NO
6	U65921TN2007PLC063294	NSM Holdings Limited	Director	27/04/2007	27/04/2007	17/10/2013	Active	NO
7	U45200MH2005PLC154628	TVS Infrastructure Limited	Director	24/09/2007	30/04/2007	-	Active	NO
8	U63010TN2007PLC064282	TVS DYNAMIC GLOBAL FREIGHT SERVICES LIMITED	Director	19/07/2007	19/07/2007	-	Active	NO
9	U60200TN2008PLC068631	TVS COMMUTATION SOLUTIONS LIMITED	Director	21/07/2008	21/07/2008	-	Active	NO
10	U51220MH1944PLC004124	THE ASSOCIATED AUTO PARTS LIMITED	Director	29/09/2008	01/09/2008	-	Active	NO
11	U50102MH2009PTC195226	FIXALL AUTOMOTIVE SERVICES PRIVATE LIMITED	Director	25/08/2009	25/08/2009	-	Active	NO
12	U60100TN2010PLC074341	TVS AVIATION LOGISTICS LIMITED	Director	22/01/2010	22/01/2010	04/06/2013	Active	NO
13	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	13/12/2010	12/11/2010	-	Active	NO
14	U60200TN2009PLC071624	TVS RHR FINISHED VEHICLES LOGISTICS SOLUTIONS LIMITED	Director	29/09/2011	29/12/2010	31/03/2013	Active	NO
15	U51109TN2011PTC083208	DINRAM HOLDINGS PRIVATE LIMITED	Director	18/11/2011	18/11/2011	-	Active	NO
16	U74910TN2000PLC046218	APARAJITHA CORPORATE SERVICES LIMITED	Director	28/03/2012	28/03/2012	-	Active	NO
17	U50300GJ2012PLC069099	ESSEX AUTOMOBILE SOLUTIONS LIMITED	Director	14/08/2013	29/03/2012	-	Active	NO
18	U74990TN2010PLC076131	FLEXOL PACKAGING (INDIA) LIMITED	Director	29/09/2012	31/03/2012	-	Active	NO
19	U50300KL2012PLC030459	FOCUZ AUTOMOBILE SERVICES LIMITED	Director	05/08/2013	24/04/2013	-	Active	NO

Name :

Mr. Balasubramania Iyer Ganapathi Sarma

Designation :

Director

Address :

Assarain Complex, Villa No. 17, Building No. 791, Way No. 2307, Quram / Bausher, Muscat

Date of Birth/Age :

24.08.1935

Date of Appointment :

24.04.2009

DIN No.:

01515444

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U45200MH2005PLC154628	TVS Infrastructure Limited	Director	24/09/2007	30/04/2007	-	Active	NO
2	U65993TN2001PLC047748	NITYA KALYANEE INVESTMENT LIMITED	Director	29/09/2009	29/01/2009	29/12/2011	Active	NO
3	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	24/04/2009	24/04/2009	-	Active	NO

Name :

Mr. Sachin Nithyanand Kamath

Designation :

Director

Address :

No. 100, 5^th Road, Yadhavgiri, Mysore – 570020, Tamilnadu, India

Date of Birth/Age :

27.06.1965

Date of Appointment :

29.09.2011

DIN No.:

01592593

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27102OR2003PLC007368	PATNAIK STEELS AND ALLOYS LIMITED	Director	08/09/2007	16/04/2007	01/09/2010	Active	NO
2	U72900DL2008PTC176763	ASPIRING MINDS ASSESSMENT PRIVATE LIMITED	Director	30/09/2009	12/02/2009	-	Active	NO
3	U93000MH2009PTC193209	KITARA CAPITAL PRIVATE LIMITED	Director	10/06/2009	10/06/2009	-	Active	NO
4	U11201MH2000PTC129960	OIL FIELD INSTRUMENTATION (INDIA) Private Limited	Director	30/09/2010	29/06/2010	-	Active	NO
5	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	29/09/2011	12/01/2011	-	Active	NO
6	U74999MH2010PTC210246	MCPHAR INTERNATIONAL PRIVATE LIMITED	Director	30/09/2013	01/08/2013	-	Active	NO

Name :

Mr. Aroon Raman

Designation :

Director

Address :

No. 389 and 390, 3^rd Cross, 16^th Main, 3^rd Block, Koramangala, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

21.03.1960

Date of Appointment :

29.09.2011

DIN No.:

00201205

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U67120KA1990PTC010732	ANAHITA INVESTMENTS PRIVATE LIMITED	Director	13/02/1990	13/02/1990	-	Active	NO
2	U20232KA1978PLC003383	RAMAN BOARDS LTD	Director	13/07/1991	13/07/1991	01/03/2007	Amalgamated	NO
3	U08031KA1993PTC014692	ARYAMUN INVESTMENTS PRIVATE LIMITED	Director	10/01/2003	10/01/2003	-	Strike off	NO
4	U21099KA2007PTC041393	Raman FibreScience Private Limited	Director	05/01/2007	05/01/2007	-	Active	NO
5	U65993KA1990PTC010733	ATUR INVESTMENTS PRIVATE LIMITED	Director	25/02/2007	25/02/2007	-	Strike off	NO
6	U74140KA2007PTC042217	EDUTECH NTTF INDIA PRIVATE LIMITED	Director	15/07/2008	15/07/2008	-	Active	NO
7	L65191TN1954PLC002429	SUNDARAM FINANCE LIMITED	Director	24/07/2009	27/02/2009	-	Active	NO
8	U93000KA1964ULL001532	KARNATAKA STATE INDUSTRIAL AND INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Director	20/04/2010	20/04/2010	02/04/2011	Active	NO
9	L35921TN1960PLC004175	WHEELS INDIA LIMITED	Director	14/08/2012	15/04/2011	-	Active	NO
10	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	29/09/2011	13/06/2011	-	Active	NO
11	L85110KA1995PLC019126	BRIGADE ENTERPRISES LIMITED	Additional director	29/10/2013	29/10/2013	-	Active	NO
12	L29224TN1954PLC000318	CARBORUNDUM UNIVERSAL LIMITED	Additional director	30/10/2013	30/10/2013	-	Active	NO

Name :

Mr. Muthuswami Lakshminarayan

Designation :

Director

Address :

1 Sregency, Terraces, 17^th Road, Khar West, Mumbai – 400052, Maharashtra, India

Date of Birth/Age :

07.09.1946

Date of Appointment :

29.09.2012

DIN No.:

00064750

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L85110KA1951PLC000761	Bosch Limited	Whole-time director	01/07/2008	13/09/2005	01/01/2009	Active	NO
2	U51109KA1992PTC013736	MICO TRADING PRIVATE LIMITED	Director	16/02/2006	16/02/2006	01/01/2009	Active	NO
3	L33129TZ1972PLC000641	PRICOL LIMITED	Director	03/08/2007	29/05/2007	29/04/2011	Active	NO
4	U29221KA2008PTC045987	Bosch Automotive Electronics India Private Limited	Director	01/05/2008	01/05/2008	01/01/2009	Active	NO
5	L65993TN2004PLC052856	RANE (MADRAS) LIMITED	Director	21/07/2009	21/07/2008	-	Active	NO
6	U72200KA2009PTC048794	HARMAN INTERNATIONAL (INDIA) PRIVATE LIMITED	Managing director	08/04/2013	15/01/2009	-	Active	NO
7	L29224TN1954PLC000318	CARBORUNDUM UNIVERSAL LIMITED	Director	31/07/2009	20/01/2009	-	Active	NO
8	L29112PN1978PLC088972	KIRLOSKAR INDUSTRIES LIMITED	Director	18/07/2009	24/04/2009	30/03/2010	Active	NO
9	U74200KA2009PTC051291	P3 VOITH AEROSPACE PRIVATE LIMITED	Director	26/10/2009	26/10/2009	15/09/2010	Active	NO
10	U74300KA2009PTC050726	BANGALORE INTERNATIONAL EXHIBITION SERVICES PRIVATE LIMITED	Director	09/09/2010	12/01/2010	-	Active	NO
11	L29120PN2009PLC133351	KIRLOSKAR OIL ENGINES LIMITED	Director	09/07/2010	30/03/2010	-	Active	NO
12	L34103TN2004PLC054667	WABCO INDIA LIMITED	Director	27/07/2011	25/10/2010	-	Active	NO
13	U45201KA2007PTC044522	Janaadhar (India) Private Limited	Director	30/09/2011	30/11/2010	-	Active	NO
14	U73100KA2004PLC035260	MANIPAL ACUNOVA LIMITED	Director appointed in casual vacancy	30/03/2012	30/03/2012	-	Active	NO
15	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	29/09/2012	11/07/2012	-	Active	NO
16	U52590DL2013PTC250043	Wholsum Foods Private Limited	Director	30/03/2013	30/03/2013	-	Active	NO

Name :

Mr. Narayanan Krishna Moorthy

Designation :

Director

Address :

AF- 4, vanaj, vasudara residence complex, 78 TPK. Road, Madurai – 625003, Tanilnadu, India

Date of Birth/Age :

29.09.1951

Date of Appointment :

30.09.2013

DIN No.:

05160091

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U65993TN2001PLC047748	NITYA KALYANEE INVESTMENT LIMITED	Director	29/09/2012	29/12/2011	-	Active	NO
2	U50200WB2011PLC169713	RAJGARHIA AUTOMOBILE SOLUTION LIMITED	Director	28/09/2012	12/03/2012	-	Active	NO
3	U50404TN2013PTC089671	TVS All Car Services Private Limited	Additional director	20/03/2013	20/03/2013	-	Active	NO
4	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	30/09/2013	27/03/2013	-	Active	NO
5	U50300KL2012PLC030459	FOCUZ AUTOMOBILE SERVICES LIMITED	Director	05/08/2013	24/04/2013	-	Active	NO
6	U93000TN2008PTC068222	FIT Consulting & Services Private Limited	Additional director	09/09/2013	09/09/2013	-	Active	NO
7	U50404DL2013PLC251960	NCR AUTOCARS LIMITED	Director	18/09/2013	18/09/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Majety Koteswara Rama Krishna
Designation :	Secretary
Address :	Flat No. 8, 1^st Floor, Classic Apartment, 26-13, NGO Colony, 4^th Cross, Gill Nagar, Chennai – 600094, Tamilnadu, India
Date of Birth/Age :	11.08.1972
Date of Appointment :	13.06.2011
PAN No.:	AIOPK7733J
Name :	Mr. Sanjay Kumar Niga,
Designation :	President and Chief Executive Officer
Name :	Mr. T.K. Poorikrishnana
Designation :	Chief Financial Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	21.83
Bodies corporate	60.42
Directors or relatives of Directors	10.33
Other top fifty shareholders	7.42
Total	100.00

BUSINESS DETAILS

Line of Business :	The Company is engaged in the business of providing multi brand car repair services, 24/7 roadside assistance services and trading of spares.
Products :	Not Available
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Information declined by the management

Bankers :

• DCB Bank Limited, 601 and 602, Peninsula Business Park, 6th Floor, Tower A, Senapati Bapat Marg, Lower Parel,, Mumbai - 400013, Maharashtra, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from banks	100.000	0.000
Less : Current Maturities	(7.143)	0.000
SHORT TERM BORROWING
Working capital demand loans from banks	156.699	0.000
Total	92.857	0.000

Financial Institutions :	Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India
Auditors :
Name :	S.V. Ghatalia and Associates Chartered Accountants
Address :	Tidel Park, 6 - 7 Floor A Block, Module 601, 701-702, No. 4 Rajiv Gandhi Salai, Taramani, Chennai – 600113, Tamilnadu, India
PAN No.:	AACFS6921Q
Memberships :	Not Available
Collaborators :	Not Available
Holding Company :	T.V. Sundram Iyengar and Sons Limited U34101TN1929PLC002973
Subsidiaries	Rajgarhia Automobile Solution Limited Essex Automobile Solutions Limited TVS All Car Services Private Limited (formerly SANRAV Automobile Solutions (Chennai) Private Limited) TVS Insurance Broking Limited (formerly Navratna Insurance Broking Limited) GS Automotive Service Equipments (Chennai) Private Limited Focuz Automobile Services Limited NCR Autocars Limited TVS TWG Warranty Solutions Limited (formerly SNS Warranty Solutions Limited)
Fellow subsidiary :	Sundaram Industries Limited
Associates :	TVS Logistics Services Limited TVS Commutation Solutions Limited Nitya Kalyanee Investment Limited

CAPITAL STRUCTURE

After 29.09.2014

Authorised Capital :Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 41.958 Million

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
6,000,000	Equity Shares	Rs.10/- each	Rs. 60.000 Million
4,000,000	Preference Shares	Rs.10/- each	Rs. 40.000 Million
	Total		Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,720,000	Equity Shares	Rs.10/- each	Rs.27.200 Million
2,108,236	Preference Shares	Rs.10/- each	Rs.21.082 Million
	Total		Rs. 48.282 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	48.282	48.282	48.282
(b) Reserves & Surplus	273.503	404.631	832.002
(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)	321.785	452.913	880.284
(3) Non-Current Liabilities
(a) long-term borrowings	92.857	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	29.796	79.027	56.936
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	122.653	79.027	56.936
(4) Current Liabilities
(a) Short term borrowings	166.699	0.000	0.000
(b) Trade payables	215.892	245.684	133.755
(c) Other current liabilities	173.071	143.728	131.551
(d) Short-term provisions	3.191	4.072	3.229
Total Current Liabilities (4)	558.853	393.484	268.535
TOTAL	1003.291	925.424	1205.755
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	154.712	170.385	80.675
(ii) Intangible Assets	198.166	230.989	269.725
(iii) Capital work-in-progress	15.285	38.990	53.073
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	292.672	152.280	2.550
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	101.911	99.535	102.062
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	762.746	692.179	508.085
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	25.550	27.116	29.208
(c) Trade receivables	153.228	135.685	123.252
(d) Cash and cash equivalents	36.726	48.631	508.385
(e) Short-term loans and advances	25.041	21.813	34.929
(f) Other current assets	0.000	0.000	1.896
Total Current Assets	240.545	233.245	697.670
TOTAL	1003.291	925.424	1205.755

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	638.954	592.286	457.202
		Other Income	30.870	4.256	2.448
		TOTAL (A)	669.824	596.542	459.650
Less	EXPENSES
		Purchase of Stock-in-trade	222.552	242.660	178.298
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	1.949	(2.527)	0.062
		Sub-contracting expenses	145.355	147.823	95.288
		Employee Benefits Expenses	261.145	241.048	185.571
		Other Expenses	296.202	350.250	207.601
		Exceptional item	(207.996)	0.000	0.000
		TOTAL (B)	979.254	666.819	70.789
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(49.383)	(382.712)	(207.170)
Less	FINANCIAL EXPENSES (D)		16.806	(20.851)	(51.199)
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(66.189)	(361.861)	(155.971)
Less	DEPRECIATION/ AMORTISATION (F)		64.939	65.511	84.786
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		(131.128)	(427.372)	(240.757)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		(131.128)	(427.372)	(240.757)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(687.701)	(258.735)	(17.978)
	Balance Carried to the B/S		(817.235)	(686.107)	(258.735)
	Earnings Per Share (Rs.)		(47.76)	(157.12)	(93.16)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	7.142	0.000	0.000
Cash generated from operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(20.52)	(72.16)	(52.66)
Operating Profit Margin (PBIDT/Sales)	(%)	(7.73)	(64.62)	(45.31)
Return on Total Assets (PBT/Total Assets}	(%)	(18.86)	(58.21)	(20.93)
Return on Investment (ROI) (PBT/Networth)		(0.41)	(0.94)	(0.27
Debt Equity Ratio (Total Debt /Networth)		0.83	0.00	0.00
Current Ratio (Current Asset/Current Liability)		0.43	0.59	2.60

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	48.282	48.282	48.282
Reserves & Surplus	832.002	404.631	273.503
Net worth	880.284	452.913	321.785
long-term borrowings	0.000	0.000	92.857
Short term borrowings	0.000	0.000	166.699
Current maturities of long-term debts	0.000	0.000	7.142
Total borrowings	0.000	0.000	266.698
Debt/Equity ratio	0.000	0.000	0.829

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	457.202	592.286	638.954
		29.546	7.879

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	457.202	592.286	638.954
Profit	(240.757)	(427.372)	(131.128)
	(52.66%)	(72.16%)	(20.52%)

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	No
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

INDEX OF CHARGE:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10568919	27/03/2015	50,000,000.00	ADITYA BIRLA FINANCE LIMITED	Indian Rayon Compound,, Veraval, Gujarat -362266, INDIA	C53405437
2	10477036	26/12/2013	100,000,000.00	DCB BANK LIMITED	601 & 602, Peninsula Business Park, 6th floor,, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA	B96128616
3	10477034	26/12/2013	175,000,000.00	DCB BANK LIMITED	601 & 602, Peninsula Business Park, 6th floor,, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA	B96127923

UNSECURED LOAN

(Rs. in Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Inter corporate deposit from related party	10.000	0.000
Total	10.000	0.000

CORPORATE INFORMATION

Subject was incorporated on April 24, 2009. The Company is engaged in the business of providing multi-brand car repair services, 24/7 emergency roadside assistance services and trading of spares. The Company is a subsidiary of T.V. Sundram Iyengar and Sons Limited (“TVS & Sons”).

AUTO INDUSTRY

The auto industry continued to remain stagnant due to economic slowdown, high interest rates and increasing fuel prices. The overall sale of Passenger Vehicles was down by 6% when compared to the preceding year. Banking on the stable new government, economic reforms and reduction in taxes for the auto industry, SIAM has forecast a positive outlook for 2014-15.

PERFORMANCE REVIEW, PROSPECTS & OUTLOOK

In FY 2013-2014, your company achieved a turnover of Rs.638.95 million (previous year Rs.592.29 million) and incurred a loss of Rs. 131.13 million (previous year Rs. 427.37 million).

Multi Brand Car Repair Service

The Company continued to take effective steps for achieving profitable growth in multi brand car repair service business. As part of the said efforts the Company entered into a service management contract with a partner for the management of certain outlets in Karnataka. In order to achieve profitability the Company has plans to enter into more tieups with insurance companies, corporate and other service providers. The Company also has plans to enter into commercial vehicle service both in India and abroad.

24x7 Emergency Roadside Assistance

The Company maintained its position as a leading player in India in the roadside assistance business. There is a direct correlation between the sale of new passenger cars and the business. Despite the fall in passenger car sales, specifically relating to the Company’s main client, the turnover of this business witnessed a slight increase. The Company is looking at not only renewing its relationship with its existing customers but also entering into new tie-ups with various insurance companies and other service providers in the non-OEM segment. The Company is confident that during the current financial year also this business will continue to do well by adopting technology as a differentiator viz. Telematics and Mobile Applications.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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 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.63.85
UK Pound	1	Rs.98.38
Euro	1	Rs.69.64

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	ART/JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	----
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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.