MIRA INFORM REPORT
|
Report No. : |
343126 |
|
Report Date : |
28.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TATA INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Trent House, G -Block, Plot No. C-60, Beside
Citi Bank, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra |
|
Tel. No.: |
91-22-66652200-10 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
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|
Date of Incorporation
: |
30.11.1962 |
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|
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|
Com. Reg. No.: |
11-012528 |
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Capital
Investment / Paid-up Capital : |
Rs.401.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1962PLC012528 |
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|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT10815A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT3198F |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacture and Seller of Leather and Leather Products, Trading in Commodities and Footwear Retail. |
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|
|
|
No. of Employees
: |
2000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Promoted by “Tata Group” in 1962, Tata International Limited (TIL)
currently operates under five divisions. It is a well-established and reputed
company having fine track. The company reported an operating income and net profit of
Rs.15050.235 Million and Rs.181.682 Million respectively in FY 2014 as
against an operating income and net loss of Rs.12074.477 Million and
Rs.(61.281) Million respectively FY2013. Rating take consideration on company strong support from the Tata
group which provide strong financial flexibility. Ratings continue to take
comfort from strong parentage support of “Tata Group”, its strong investment
portfolio, leading position in India as an exporter of leather products and
strong presence in world markets. Ratings are constrained by the company’s risk of foreign currency
fluctuation impacting the profitability. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be regular and as per commitment. In view of experience, knowledgeable, resourceful and respectable
promoters, the company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Convertible Debenture A+ |
|
Rating Explanation |
Have adequate degree of safety and carry low credit risk. |
|
Date |
September 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based limits A1+ |
|
Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
|
Date |
September 2014 |
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. Siva Kumar |
|
Designation : |
Accountant and Finance Head |
|
Contact No.: |
91-22-66652200 |
LOCATIONS
|
Registered Office/ Corporate office : |
7th Floor, Trent House, G -Block, Plot No. C-60, Beside Citi Bank, Bandra
Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-66652200-10 |
|
Fax No.: |
91-22-66612836 |
|
E-Mail : |
ajay.ponkse@tatainternational.com corporate@telmumablk.globalnet.ems.vsnl.net.in mdeshmukh@tatainternational.com |
|
Website : |
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|
Representative
Office : |
Tata Centre, 43, Chowringhee
Road, Kolkata, West Bengal, India |
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Factory 1 /
Leather and Leather Products Business Unit: |
No. 15, Mechano Industrial Estate, Vellappanchavadi, Chennai - 600077,
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|
Tel. No.: |
91-44-66362500 / 10 |
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Fax No.: |
91-44-66362522 |
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E-Mail : |
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Factory 2 : |
Industrial Area, Agra Mumbai Road, Dewas - 455001, Madhya Pradesh,
India |
|
Tel. No.: |
91-7272-258900 / 04 / 425500 |
|
Fax No. ( |
91-7272-258150 / 258271 |
|
Fax No. (LFB
Marketing) : |
91-7272-258914 |
|
Fax No. (LGB Marketing)
: |
91-7272-258574 |
|
Fax No. (Ladies FW
Plant) : |
91-7272-400161 |
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Engineering
Business Unit: |
Located
at
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Overseas
Offices: |
Located at
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DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Homiar Sorabji Vachha |
|
Designation : |
Director |
|
Address : |
Flat No. 9, Naoroji House, Naigaum Cross Road, Dadar, Mumbai – 400014, Maharashtra, India |
|
Date of Birth/Age : |
23.04.1942 |
|
Qualification : |
MA, Phd (Economics) |
|
Date of Appointment : |
08.09.2014 |
|
DIN No.: |
00016610 |
|
|
|
|
Name : |
Mr. Piyush G. Mankad |
|
Designation : |
Director |
|
Address : |
P-161, ATS Greens Village, Sector 93-A, Expressway Noida - 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
18.11.1941 |
|
Qualification : |
MA, IAS (Retd) |
|
Date of Appointment : |
08.09.2014 |
|
DIN No.: |
00005001 |
|
|
|
|
Name : |
Mr. Arun Kumar Vora |
|
Designation : |
Director |
|
Address : |
S-2, 3rd Floor, Orchid Apartments, 161, 5th Main, Defence Colony, Indira Nagar, Bangalore – 560038, Karnataka, India |
|
Date of Birth/Age : |
14.08.1941 |
|
Qualification : |
BE (Mechanical), PG Industrial engineering (UK) |
|
Date of Appointment : |
08.09.2014 |
|
DIN No.: |
00191774 |
|
|
|
|
Name : |
Mr. Noel Naval Tata |
|
Designation : |
Managing Director |
|
Address : |
Windmere, Cuffe Parade Colaba, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1956 |
|
Qualification : |
Graduate from Sussex (UK) |
|
Date of Appointment : |
26.08.2010 |
|
DIN No.: |
00024713 |
|
|
|
|
Name : |
Mr. Ramakrishnan Mukundan |
|
Designation : |
Director |
|
Address : |
9, Swastik Building Plot 151 Major Parmesh Waran Road, Wadala, Mumbai – 400031, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1966 |
|
Qualification : |
BE (Electrical), MBA |
|
Date of Appointment : |
26.08.2010 |
|
DIN No.: |
00778253 |
|
|
|
|
Name : |
Mr. Ravindra Narayan Pisharody |
|
Designation : |
Director |
|
Address : |
Hill Park Building No.-1, Flat No. 9, 2nd Floor, AG Bell Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
24.11.1955 |
|
Qualification : |
B.Tech (Electronics IIT), PGDM IIM) |
|
Date of Appointment : |
26.08.2010 |
|
DIN No.: |
01875848 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay
Murlidhar Ponkshe |
|
Designation : |
Company Secretary
|
|
Address : |
Flat No. 3, 1st
Floor, Yashodan, Sahayog Mandir Path, Naupada, Thane – 400 601, |
|
Date of Birth/Age : |
27.02.1960 |
|
Date of Appointment : |
20.07.2007 |
|
PAN No.: |
AAEPP6047Q |
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|
|
|
Name : |
Mr. Siva Kumar |
|
Designation : |
Accountant and Finance Head |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Tata Motors Limited, India |
50000 |
|
Tata Chemicals Limited, India |
48000 |
|
Voltas Limited, India |
10000 |
|
Tata Sons Limited, India |
167400 |
|
Tata Industries Limited, India |
17122 |
|
Trent Limited, India |
3000 |
|
Ewart Investments Limited, India |
25000 |
|
Tifco Holdings Limited, India |
8000 |
|
Tata Steel Limited, India |
28616 |
|
Shapoor Pallonji Mistry |
200 |
|
Cyrus Pallonji Mistry |
200 |
|
Sheba Properties Limited, India |
19350 |
|
Af-Taab Investment Company Limited, India |
20500 |
|
Simone Naval Tata |
112 |
|
Chemical Terminal Trombay Limited, India |
3500 |
|
Total |
401000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
99.87 |
|
Other |
0.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Seller of Leather and Leather Products,
Trading in Commodities and Footwear Retail. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products: |
Leather Products |
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Countries : |
·
European countries ·
Hong Kong ·
China |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash / L/C / Cheque / Credit |
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Purchasing : |
Cash / L/C / Cheque / Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
2000 (Approximately) |
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Bankers : |
· State Bank of India, Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai - 400005, Maharashtra, India
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Facilities : |
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Financial
Institution: |
Housing Development Finance Corporation Limited, Ramon House, H T
Parekh Marge, 169, Backbay Reclamation, Churchgate, Mumbai - 400020,
Maharashtra, India |
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Dr. Annie Besant Road, Shivsagar Estates, Worli, Mumbai – 400018,
Maharashtra, India |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679100 |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company : |
Tata Sons Limited |
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Subsidiaries : |
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Associates |
Tata Ceramics Limited CIN No.: U26933KL1991PLC006018 |
|
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|
Joint Venture |
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|
Fellow Subsidiaries |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.1000/- each |
Rs.700.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
401000 |
Equity Shares |
Rs.1000/-
each |
Rs.401.000
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 |
401.000 |
401.000 |
401.000 |
|
(b) Reserves & Surplus |
4579.864 |
4504.298 |
4565.579 |
|
(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) |
4980.864 |
4905.298 |
4966.579 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2814.078 |
2894.725 |
2950.184 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
44.540 |
0.000 |
|
(c) Other long term
liabilities |
21.044 |
146.979 |
139.03 |
|
(d) long-term
provisions |
61.227 |
59.319 |
55.054 |
|
Total Non-current
Liabilities (3) |
2896.349 |
3145.563 |
3144.268 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3541.264 |
2343.883 |
3132.172 |
|
(b) Trade
payables |
2633.282 |
1960.331 |
1707.192 |
|
(c) Other current
liabilities |
254.865 |
205.370 |
476.773 |
|
(d) Short-term
provisions |
629.141 |
522.867 |
514.112 |
|
Total Current
Liabilities (4) |
7058.552 |
5032.451 |
5830.249 |
|
|
|
|
|
|
TOTAL |
14935.765 |
13083.312 |
13941.096 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1203.758 |
1313.191 |
1239.114 |
|
(ii)
Intangible Assets |
5.189 |
7.368 |
15.044 |
|
(iii)
Capital work-in-progress |
5.147 |
6.780 |
141.978 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6766.991 |
6671.991 |
5267.432 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
7.467 |
|
(d) Long-term Loan and Advances |
775.360 |
857.838 |
796.606 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
8756.445 |
8857.168 |
7467.641 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
365.254 |
133.989 |
2,071.09 |
|
(b)
Inventories |
1795.679 |
1516.450 |
2003.286 |
|
(c) Trade
receivables |
2241.097 |
1584.052 |
1406.882 |
|
(d) Cash
and cash equivalents |
115.047 |
109.357 |
329.052 |
|
(e)
Short-term loans and advances |
1143.579 |
853.000 |
591.335 |
|
(f) Other
current assets |
518.664 |
29.296 |
71.808 |
|
Total
Current Assets |
6179.320 |
4226.144 |
6473.455 |
|
|
|
|
|
|
TOTAL |
14935.765 |
13083.312 |
13941.096 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14103.473 |
11483.143 |
9937.509 |
|
|
|
Other Income |
946.762 |
591.334 |
251.978 |
|
|
|
TOTAL (A) |
15050.235 |
12074.477 |
10189.487 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
6183.492 |
5496.743 |
3919.240 |
|
|
|
Purchase of Stock-in-trade |
4117.809 |
2618.965 |
3237.432 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(238.585) |
87.152 |
(12.355) |
|
|
|
Employee Benefits Expenses |
850.839 |
755.923 |
651.359 |
|
|
|
Other Expenses |
3403.545 |
2775.055 |
2778.821 |
|
|
|
TOTAL (B) |
14317.100 |
11733.838 |
10574.497 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
733.135 |
340.639 |
(385.010) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
342.953 |
290.562 |
402.055 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
390.182 |
50.077 |
(787.065) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
182.948 |
176.286 |
181.630 |
|
|
|
|
|
|
|
|
|
Add |
EXCEPTIONAL
ITEMS |
69.862 |
183.383 |
1373.897 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
277.096 |
57.174 |
405.202 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
95.414 |
118.455 |
21.492 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
181.682 |
(61.281) |
383.710 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
453.07 |
(152.82) |
1081.00 |
|
|
Particulars |
|
|
31.03.2015 (Audited) |
|
Sales Turnover (Approximately) |
|
|
15907.500 |
Expected Sales 2015-2016 : Rs. 18000.000 Million
The above information has been parted by Mr. Siva Kumar
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
116.651 |
76.473 |
65.867 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
(685.377) |
24.143 |
(1276.638) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.29 |
(0.53) |
3.86 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
5.20 |
2.97 |
(3.87) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.39 |
0.89 |
4.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.01 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.29 |
1.08 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.84 |
1.11 |
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 |
401.000 |
401.000 |
401.000 |
|
Reserves & Surplus |
4565.579 |
4504.298 |
4579.864 |
|
Net
worth |
4966.579 |
4905.298 |
4980.864 |
|
|
|
|
|
|
long-term borrowings |
2950.184 |
2894.725 |
2814.078 |
|
Short term borrowings |
3132.172 |
2343.883 |
3541.264 |
|
Current maturities of
long-term debts |
65.867 |
76.473 |
116.651 |
|
Total
borrowings |
6421.209 |
5315.081 |
6199.007 |
|
Debt/Equity
ratio |
1.289 |
1.084 |
1.248 |
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 |
9937.509 |
11483.143 |
14103.473 |
|
|
|
15.554 |
22.819 |
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 |
9937.509 |
11483.143 |
14103.473 |
|
Profit |
383.710 |
(61.281) |
181.682 |
|
|
3.86% |
(0.53%) |
1.29% |
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 |
Yes |
|
19] |
Major customers |
Yes |
|
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 |
Yes |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
Yes |
|
32] |
Litigations that the firm/promoter
involved in |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION
DETAILS:
|
CASE DETAILS BENCH:-BOMBAY
|
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Non-convertible debentures |
2450.000 |
2450.000 |
|
Short Term Borrowings |
|
|
|
Other loans and advances |
1291.350 |
477.184 |
|
|
|
|
|
Total |
3741.350 |
2927.184 |
OPERATING PERFORMANCE
The year 2013-14
continued to be a year full of challenges and opportunities for the Company.
The Company on a stand-alone basis achieved an operating revenue of Rs.1410.000
Million (previous year: Rs. 1148.000 Million) registering a growth of 23%. The
Company has for the first time in its history crossed Rs.10000.000 Million
turnover (US$ 1.7 billion) at a consolidated level.
The Company
continues to pursue various improvement initiatives identified and initiated.
Given below is a detailed analysis of the operations of the Company during the
year 2013-14.
FASHION AND
PERFORMANCE LEATHER BUSINESS
During the year, the
Fashion Leather business was re-structured under distinct animal categories -
goat, sheet and bovine. These ‘sub-verticals’ have helped rationalize the
operations with distinct focus on processes, productivity and costs. To ensure
employee participation and workforce commitment, the improvement initiatives
were branded as ‘Parivartan’. The agenda is to improve internal efficiencies in
planning, productivity and manufacturing. The focus would be on improving
volumes by exploring new markets and product segments. The Business would also
be venturing into manufacture of sheep gloving which would help generate
healthy margins.
ENGINEERING BUSINESS
The business achieved a turnover of Rs.3540.000 Million (2011-12: Rs.3520.000 Million). During the year the Company has entered into long term agreements with key vendors of repute for certain of their products for distribution in Africa and other regions. These initiatives would not only provide sustainability to the business, but would also increase the reach in the market and improve the overall performance.
Footwear Business
The year 2013-14
has been an year of consolidation and new opportunities for the footwear
business. The footwear business in Dewas and Chennai has been able to build on
a strong foundation and is poised to reap the benefits in the coming years. The
new manufacturing unit has laid the foundation for a robust production in
2014-2015 by setting up required systems/ completing customer audits etc. The
Dewas unit has increased its topline by 62% and reduced the losses by 51%. The
unit is poised for a turnaround in 2014-2015.
During the year
the Division has laid the groundwork for tapping new markets in USA and
Australia. The Division has entered into a Memorandum of Understanding with
Fenelli, a regular customer, for 3 years which involves assured production of
0.350 Million pairs of shoes during 2014-15 increasing to 0.500 Million pairs
by 2017-18. A similar understanding was reached with Bugatti to produce 0.500
Million pairs of shoes per annum from 2015-16. The division would focus on
improving production through skill development across its workforce and
strengthen employee engagement.
INDEX OF CHARGE:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10410416 |
13/03/2013 |
1,728,000,000.00 |
ICICI BANK LIMITED |
9 RAFFLES PLACE, # 50-01, REPUBLIC PLAZA, SINGAPORE, - 048619,
SINGAPORE |
B70296835 |
|
2 |
10310769 |
13/01/2012 * |
300,000,000.00 |
ICICI BANK LIMITED |
LANDMARK, RACE COURSE CIRCLE, VADODARA, Gujarat - 390007, INDIA |
B30233704 |
|
3 |
10278701 |
18/04/2011 * |
250,000,000.00 |
FirstRand Bank Limited |
5th Floor, Mistry Bhawan, 122 Dinsha Vachha Road, Churchgate, Mumbai,
Maharashtra - 400020, INDIA |
B10474450 |
|
4 |
10250870 |
08/12/2010 * |
192,600,000.00 |
State Bank of India |
Industrial Finance Branch, No.155, Anna Salai, Chennai, Tamil Nadu -
600002, INDIA |
B02395317 |
|
5 |
90241691 |
16/12/2005 |
4,500,000,000.00 |
ICICI BANK LTD |
ICICI TOWERS BANDRA KURLA COMPLEX, mumbai, Maharashtra - 400051, INDIA |
- |
|
6 |
80055797 |
28/04/2011 * |
5,100,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, NEVILLE HOUSE, B |
B12936837 |
|
7 |
90240961 |
20/10/2005 * |
3,020,000,000.00 |
STATE BANK OF INDIA` |
OVERSEAS BR.; WORLD TRADE CENTRE POST BOX NO 16094, CUFFE PARADE, mumbai,
Maharashtra - 400001, INDIA |
- |
|
8 |
90282277 |
05/08/2000 |
9,000,000.00 |
STANDARD CHARTERED BANK |
58; ARMENIAN STREET, CHENNAI, Tamil Nadu - 600001, |
- |
|
9 |
90282216 |
22/07/2004 * |
20,000,000.00 |
STANDARD CHARTERED BANK |
19; RAJAJI SALAI, CHENNAI, Tamil Nadu - 600001, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Furniture and Fixture
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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. 65.83 |
|
|
1 |
Rs. 103.38 |
|
Euro |
1 |
Rs. 74.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.