MIRA INFORM REPORT
|
Report No. : |
347208 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CATERPILLAR INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, International Tech Park, Chennai Taramani Road, Taramani, Chennai - 600113, Tamilnadu |
|
Tel. No.: |
91-44-42691001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.12.2000 |
|
|
|
|
Com. Reg. No.: |
18-046255 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1772.160 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29244TN2000FTC046255 |
|
|
|
|
IEC No.: |
0400023067 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC02709A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC4615K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Earth Moving Machinery and Equipments, Cat Equipments,
Cat Power Systems. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
Maximum Credit Limit : |
USD 48960000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Caterpillar India Private Limited (CIPL) is a part of
“Caterpillar Group”. It is a well-established and reputed company incorporated
in the year 2000 having excellent track. Turnover of the company has slightly declined which has
further resulted loss during FY 2014. However, available financial indicates company sound
financial risk profile marked by healthy net worth base and decent liquidity
position of the company. The rating takes into consideration rich experience of its
promoters, long established track and strong operating efficiency of the
company. The rating also continues to reflect strong linkages between
CIPL and its US-based Parent “Caterpillar Inc”. It is also to be noted that caterpillar has been ranked
54th with fortune 500 companies. Trade relations are reported as trustworthy. Business is
active. Payments are reported as regular and as per commitment. In view of the aforesaid, the company can be considered
good for normal business dealings at usual trade terms and condition. |
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 |
INDIA RATING |
|
Rating |
Long Term Issuer Rating=AAA |
|
Rating Explanation |
Have degree of safety and carry lowest
credit risk |
|
Date |
06.07.2015 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Rama Krishna P. |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-44-42691001 |
|
Date : |
28.10.2015 |
LOCATIONS
|
Registered Office : |
7th Floor, International Tech Park, Chennai Taramani Road, Taramani, Chennai - 600113, Tamilnadu, India |
|
Tel. No.: |
91-44-42691001/ 42691002 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
BCP Unit, Melnallathur, Thiruvallur - 602004, Tamilnadu, India |
|
|
|
|
Other Factories : |
Located at : · Sriperumbudur · Hosur ·
Pondicherry ·
Thiruvallur |
|
|
|
|
Branch Office : |
24, Commander In Chief Road, Chennai-600105, Tamilnadu,
India |
DIRECTORS
AS ON 10.12.2014
|
Name : |
Mr. Ajay Shankar |
|
Designation : |
Whole time Director |
|
Address : |
|
|
Date of Birth/Age : |
26.08.1948 |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
00387684 |
|
|
|
|
Name : |
Mr. Rengarajan Sundararajan |
|
Designation : |
Whole time Director |
|
Address : |
Flat 401, Building No. 10, Shanthi Park Apartments, Jayanagar 9th
Block, Bangalore – 560 069, Karnataka. |
|
Date of Birth/Age : |
11.04.1965 |
|
Date of Appointment : |
24.07.2006 |
|
DIN No.: |
00548101 |
|
|
|
|
Name : |
Mr. Ramarathnam Varadadesikan |
|
Designation : |
Director |
|
Address : |
Flat No.6, Srinivas New No.28,Kesav Perulal West Ward Mylapore,
Chennai – 600004, Tamil Nadu, India |
|
Date of Birth/Age : |
18.03.1974 |
|
Date of Appointment : |
19.09.2013 |
|
DIN No.: |
01956494 |
|
|
|
|
Name : |
Mr. Ganesh Ramamurthy Iyer |
|
Designation : |
Whole Time Director |
|
Address : |
2, |
|
Date of Birth/Age : |
01.06.1968 |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
02388483 |
|
|
|
|
Name : |
Mr. Vanmeeganathan Vivek Anand |
|
Designation : |
Director |
|
Address : |
4A, 13th Cross, Bharathi Nagar Extension, Puthur PO, Trichy
– 620017, Tamil Nadu, India |
|
Date of Birth/Age : |
25.06.1976 |
|
Date of Appointment : |
15.06.2011 |
|
DIN No.: |
03561588 |
|
|
|
|
Name : |
Mr. Ramesh Muthuraman |
|
Designation : |
Director |
|
Address : |
Villa No.99, Himagiri Meadows, Near Gottigere Bannerghatta Road,
Bangalore – 560083, Karnataka, India |
|
Date of Birth/Age : |
01.01.1971 |
|
Date of Appointment : |
28.06.2012 |
|
DIN No.: |
05316127 |
|
|
|
|
Name : |
Mr. Ramanthapuram Sethuraman Chidambaram |
|
Designation : |
Director |
|
Address : |
D 803, Ittina Akkala Apartments, White Field Road, Hoodi Circle,
Mahadevpura, Bangalore – 560048, Karnataka, India |
|
Date of Birth/Age : |
23.09.1978 |
|
Date of Appointment : |
19.06.2013 |
|
DIN No.: |
06583388 |
|
|
|
|
Name : |
Mr. Ramesh
Tipirneni
|
|
Designation : |
Director |
|
Address : |
No. 410, Phase II, Adarsh Palam Meadows, Ramagondanahalli, Bangalore –
560037, Karnataka, India |
|
Date of Birth/Age : |
03.06.1963 |
|
Date of Appointment : |
26.11.2014 |
|
DIN No.: |
06630994 |
KEY EXECUTIVES
|
Name : |
Mr. Rama Krishna P. |
|
Designation : |
Finance Controller and Secretary |
|
Address : |
No. 17, Hermba Nilaya, 1st Main 1st Cross,
Chamundeswari Layout, DB Sandra Vidyaranyapura, Bangalore – 560092,
Karnataka, India |
|
Date of Birth/Age : |
19.01.1972 |
|
Date of Appointment : |
04.11.2013 |
|
PAN No.: |
AJHPK7407R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.12.2014
|
Names of Shareholders |
|
No. of Shares |
|
Caterpillar
Commercial S.A., |
|
169216359 |
|
Caterpillar Commercial
|
|
75 |
|
Caterpillar Inc.,
USA |
|
7199928 |
|
Caterpillar (NI)
Limited |
|
800000 |
|
Bucyrus Europe Limited |
|
17571 |
|
Caterpillar
Global Mining LLC |
|
9083959 |
|
Total |
|
186317892 |
AS ON 10.12.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Earth Moving Machinery and Equipments, Cat Equipments,
Cat Power Systems. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
UAE |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit (30 days, 60 days and 90 days) |
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Purchasing : |
Cash and Credit (30 days, 60 days and 90 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
400 (Approximately) |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and LLP Chartered Accountants |
|
Address : |
5th
Floor, Tower, "D", The Millenia, 1&2 Murphy Road, Ulsoor,
Bangalore - 560008, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFP9359C |
|
|
|
|
Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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|
|
|
Ultimate
Holding Company : |
Caterpillar Incorporation USA, United States |
|
|
|
|
Fellow Subsidiaries : |
· Caterpillar SARL, Singapore · F.G. Wilson Engineering Limited, United Kingdom · Caterpillar Asia Pte Limited, Malaysia · Caterpillar Logistics Incorporation, United States · EMD Locomotive Technologies Private Limited, India (U35201DL1996PTC083567) · Caterpillar Global Mining LLC, Unite States · Perkins India Private Limited (U29253TN2011PTC084853) · Caterpillar Group Services S.A., Belgium · Caterpillar China Investments Company Limited · Bucyrus India Private Limited (U29294KA1999PTC025182) ·
Caterpillar Japan Limited, Japan ·
Solar Turbines India Private Limited, India (U45207MH2001PTC132156) · SPL Software Alliance LLC, United States |
CAPITAL STRUCTURE
AS ON 10.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
224,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2240.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
186,317,892 |
Equity Shares |
Rs. 10/- each |
Rs. 1863.179 Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19,90,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 199.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17,72,16,362 |
Equity Shares |
Rs. 10/- each |
Rs. 1772.160 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 |
1772.160 |
1772.160 |
1772.160 |
|
(b) Reserves & Surplus |
15365.840 |
15889.840 |
9137.840 |
|
(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) |
17138.000 |
17662.000 |
10910.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
8030.000 |
9033.000 |
6620.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
377.000 |
248.000 |
|
(c)
Other long term liabilities |
83.000 |
142.000 |
235.000 |
|
(d)
long-term provisions |
3117.000 |
368.000 |
295.000 |
|
Total
Non-current Liabilities (3) |
11230.000 |
9920.000 |
7398.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
200.000 |
|
(b)
Trade payables |
4003.000 |
6903.000 |
10669.000 |
|
(c)
Other current liabilities |
5192.000 |
1386.000 |
1882.000 |
|
(d)
Short-term provisions |
1092.000 |
661.000 |
432.000 |
|
Total
Current Liabilities (4) |
10287.000 |
8950.000 |
13183.000 |
|
|
|
|
|
|
TOTAL |
38655.000 |
36532.000 |
31491.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
10614.000 |
10201.000 |
6505.000 |
|
(ii)
Intangible Assets |
92.000 |
103.000 |
82.000 |
|
(iii)
Capital work-in-progress |
317.000 |
563.000 |
1036.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
592.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
1755.000 |
1362.000 |
741.000 |
|
(e)
Other Non-current assets |
90.000 |
20.000 |
16.000 |
|
Total
Non-Current Assets |
13460.000 |
12249.000 |
8380.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
10600.000 |
12229.000 |
11173.000 |
|
(d)
Cash and cash equivalents |
3741.000 |
4240.000 |
1108.000 |
|
(e)
Short-term loans and advances |
4906.000 |
227.000 |
7203.000 |
|
(f)
Other current assets |
5948.000 |
7587.000 |
3627.000 |
|
Total
Current Assets |
25195.000 |
24283.000 |
23111.000 |
|
|
|
|
|
|
TOTAL |
38655.000 |
36532.000 |
31491.000 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
31754.000 |
55696.000 |
43425.000 |
|
|
|
Other Income |
609.000 |
392.000 |
258.000 |
|
|
|
TOTAL |
32363.000 |
56088.000 |
43683.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
33805.000 |
46101.000 |
37321.000 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(1442.000) |
9987.000 |
6362.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(680.000) |
3235.000 |
2043.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(762.000) |
6752.000 |
4319.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
15471.000 |
8719.000 |
4400.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
56.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
14653.000 |
15471.000 |
8719.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
20445.000 |
43794.000 |
30692.000 |
|
|
TOTAL EARNINGS |
20445.000 |
43794.000 |
30692.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.30 |
0.04 |
0.02 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
35000.000 |
|
|
|
|
|
The above information has been parted by Mr. Rama Krishna P. (Finance
Controller)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
2.890 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
4599.000 |
5132.000 |
2943.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(2.40) |
12.12 |
9.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.82) |
27.77 |
20.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08) |
0.57 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.47 |
0.51 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.45 |
2.71 |
1.75 |
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 |
1772.160 |
1772.160 |
1772.160 |
|
Reserves & Surplus |
9137.840 |
15889.840 |
15365.840 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
10910.000 |
17662.000 |
17138.000 |
|
|
|
|
|
|
Long-term borrowings |
6620.000 |
9033.000 |
8030.000 |
|
Short term borrowings |
200.000 |
0.000 |
0.000 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.000 |
0.000 |
2.890 |
|
Total
borrowings |
6820.000 |
9033.000 |
8032.890 |
|
Debt/Equity
ratio |
0.625 |
0.511 |
0.469 |
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/ (Loss) |
43425.000 |
55696.000 |
31754.000 |
|
|
|
28.258 |
(42.987) |
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 |
43425.000 |
55696.000 |
31754.000 |
|
Profit |
4319.000 |
6752.000 |
(762.000) |
|
|
9.95% |
12.12% |
(2.40%) |
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90307550 |
07/07/1995 |
20,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RESIDENCY ROAD, BANGALORE- 560025, KARNATAKA, INDIA |
- |
|
2 |
90307266 |
06/01/1996 * |
90,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RESIDENCY ROAD, BANGALORE- 560025, KARNATAKA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Foreign Currency Term Loans from others |
8030.000 |
9033.000 |
|
|
|
|
|
Total |
8030.000 |
9033.000 |
GENERAL INFORMATION:
The Company principal line
of business includes manufacturing of earthmoving equipment, construction and
other industrial equipment. The Company also provides engineering design
services, marketing support and business support to other Caterpillar group companies.
It has its registered office in Chennai and manufacturing plants at Thiruvallur
and Hosur. The Company s products are exported to other Caterpillar group
companies as well as sold in the domestic market within India.
BUSINESS UPDATES:
INTEGRATED
MANUFACTURING OPERATING DIVISION (IMOD)
The mining industry slowdown continued to stay flat during this year. Some new variants of Excavators were launched for Indian market. The company also enhanced its capability on new components for building Lower Power Trains of Large wheel Loaders and Under Ground Mining.
INDUSTRIAL POWER
SYSTEMS DIVISION (IPSD)
Horus Engine facility has now become part of Industrial Power Systems Division under Energy and Transportation group of Caterpillar. During this year, the Horus facility has introduced a new product.
ENGINEERING DESIGN
CENTRE (EDC)
This division continues to play a major role in Caterpillars global research and development in the areas of Mechanical system design, virtual validation and manufacturing engineering services with more focus on regional
Product development
BUILDING CONSTRUCTION
PRODUCT (BCP)
During the year, BCP Division enhanced their paint operations capability.
ELECTRIC POWER
DIVISIONC (EPD)
Pondicherry
facility:
CIPL, EPD production facility at Pondicherry is permanently closed. All licenses have been de-registered.
Horus
facility:
New CPCB2 emission norms implemented
ADVANCED COMPONENT
SYSTEM DIVISION (ACSD)
With the continued growth, ACSD Horus footprint was relocated into a Leased space within Horus region. This expansion will not only help our Caterpillar, but also expected to help Horus local economy. The transition from the prior facility was successfully done Safely, On-Time, without any spikes in quality, and zero issues with CSP.
INDIA EXPORT
CONSOLIDATION CENTER (IECC) & INDIA LOGISTICS CENTER (ILC)
As part of implementing the global integrated supply chain strategy for Caterpillar manufacturing facilities, Integrated Logistics Services (ILS) established two centers in a leased facility at Polivakkam namely India Logistics Center (ILC) and India Export Consolidation Center (IECC). These facilities are fully operational.
MERGER
The Company has successfully completed the merger of Bucyrus India Private Limited, thru Scheme of Amalgamation approved by the Honble High Court of Chennai vide its Order date 10th October 2014. The Appointed Date of the merger is 1 April 2013 which became effective from 1 November, 2014. Pursuant to the said merger, the Authorized Capital of the Company stands increased to Rs. 224 Crores from the earlier Rs. 199 Crores.
The Company has filed all the requisite forms with the statutory forms with the relevant authorities and the merger is Effective from 1st November 2014.
CONTINGENT
LIABILITIES
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Customs duty matters under dispute |
92.000 |
92.000 |
|
Excise duty related claims under dispute |
99.000 |
29.000 |
|
Sales Tax matters under dispute |
26.000 |
70.000 |
|
Outstanding bank guarantees |
4.000 |
97.000 |
|
|
|
|
|
Total |
221.000 |
288.000 |
NOTES:
· Relates to duty demand at normal rate against goods imported at concessional rate of duty against supplies of Machines to green field projects.
· Relates to duty demand on Machines supplied to projects with exemption under Notification No.108/95 clearances.
· Relates to value added tax demand at normal rate as against the supplies of diesel generator sets at concessional rates.
· Due to the very nature of such disputes, it is not possible to estimate the timing / uncertainties relating to the cash outflows with respect to the above contingent liabilities.
·
The above Contingent Liabilities does not
include Income tax matters under dispute where favourable orders have been
received at appellate levels with respect to similar disputes.
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Office Building
· Plant and Equipment
· Other Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
PRESS PELEASES
CATERPILLAR EYES SALES BOOST
July 2, 2014
The Company has announced a 20 percent reduction in Emi
during the Monsoon Season or 20 percent Reduction in their Initial Maintenance
cost besides a Freebie Scheme
Caterpillar India, on Wednesday, launched a new backhoe loader with a promise of 20 per cent higher fuel efficiency. Priced marginally higher than its earlier backhoes, the new 424B machine has come with significant changes in structures and hydraulic systems, among others, for meeting Indian customer requirements.
The company said the new product would help boost the profitability levels of contractors significantly. “Fuel represents 40-50 per cent of operating cost of the customers and 20 per cent reduction in fuel consumption is a lot for them,” said Vivek Chandrasekharan, Sales and Marketing, Director- Asia Region, Building Construction Products Division, Caterpillar.
The company has announced a 20 per cent reduction in EMI during the monsoon season or 20 per cent reduction in their initial maintenance cost besides a freebie scheme. Based on a tie-up, Tata Capital Financial Services will provide lending support for buyers of Cat equipment.
Mr. Chandrasekharan said the construction equipment segment was hit by downturn for the past 18-24 months. But there were signs of revival and the second-half of this calendar year would be better than previous periods. “We hope to see some growth in the first quarter of 2015,” he added.
According to estimates, Indian backhoe loader market, largest in the world, saw 15 per cent drop in volumes at about 27,500 units in 2013.
CATERPILLAR INDIA
STRENGTHENING PCATERRESENCE, PRODUCT RANGE
Rolls Out New Variant Of Backhoe Loader
CHENNAI,
JULY 2: Caterpillar India is strengthening its manufacturing capacity and
product range as emerging markets will contribute to more than half the
demand for construction equipment industry and allied sectors in the coming
years.
Addressing a press conference on the launch
of a new variant of backhoe loader, the Cat 424B, Ramesh Tipirneni, Country
Manager, Caterpillar India, said the company has added a second engine
production line at Horus to make the 3406 series of engines.
The new
Cat 424B is an optimised and more fuel-efficient version of the existing range.
The backhoe is priced around ₹20-24 lakh. The company will assist buyers
with its Cat Finance Solution operated by Tata Capital Financial Services.
Its $150
million Perkins engine manufacturing plant coming up in Aurangabad will start
production next year. It will make engines for genets and for original
equipment manufacturers, he said.
Vivek
Chandrasekharan, Director – Asia Region, Building Construction Division,
Caterpillar, said the emerging markets are expected to contribute to more than
half the global demand for construction equipment in the coming years.
Caterpillar
equipment caters to construction sector, mining, energy and transportation. The
slowdown has hit the construction equipment industry for now. In 2013, the
total domestic sale of backhoe loaders is estimated at 27,500 units.
In the
first half of the current year, industry sales are down about 25 per cent. But
the industry is optimistic on growth in the coming year with the Government
focus on infrastructure and industrial development, he said.
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 records 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. 65.15 |
|
|
1 |
Rs. 99.36 |
|
Euro |
1 |
Rs. 71.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
73 |
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.