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MIRA INFORM REPORT
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Report No. : |
495394 |
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Report Date : |
06.03.2018 |
IDENTIFICATION DETAILS
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Name : |
TALBROS AUTOMOTIVE COMPONENTS LIMITED [w.e.f. 07.04.1979] |
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Formerly Known
As : |
STYLE PAYEN TALBROS LIMITED [w.e.f. 30.11.1975] STYLE PAYEN TALBROS PRIVATE LIMITED |
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Registered
Office : |
14/1,
Delhi Mathura Road, P.O. Amar Nagar, Faridabad - 121003, Haryana |
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Tel. No.: |
91-129-2275434/ 35/ 36/ 37, 2275345/ 4294182/ 4294189/ 4047694 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
08.09.1956 |
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Com. Reg. No.: |
05-033107 |
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Capital Investment
/ Paid-up Capital : |
INR 123.456 Million |
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CIN No.: [Company Identification
No.] |
L29199HR1956PLC033107 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
06AAACT0265F1ZQ |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACT0265F |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing of Gaskets and Forgings. [Registered
Activity] |
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No. of Employees
: |
579 (Approximately) |
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1956 and it is having good track records. The company manufactures gaskets and forgings that are supplied to original equipment manufacturers and the aftermarket. For the financial year 2017, the company has increased its revenue from operations as compared to previous year and maintained average profitability margin of 3.18%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and low debt balance sheet. Further, rating also reflects its experienced promoters, strong global partnerships, reputed and diversified clientele, long track record of operation with strong distribution network and improvement in the revenue as well as profitability profile. However, rating strength is partially offset by working capital intensive nature of operations, cyclical nature of the automotive industry and foreign currency fluctuation risk. Trade relations are reported as fair. Business is active. Payment terms are seems to be regular. In view of the aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long Term rating = BBB+ |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
17.04.2017 |
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Rating Agency Name |
CARE |
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Rating |
Short Term rating = A2 |
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Rating Explanation |
Strong degree of safety and low credit risk. |
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Date |
17.04.2017 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 06.03.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
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Name : |
Not divulged |
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Designation : |
Office Executive |
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Contact No.: |
91-9896684474 |
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Date : |
01.03.2018 |
MANAGEMENT NON CO-OPERATIVE (Tel No.91-129-2275434/ 35/ 36)
LOCATIONS
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Registered Office /
Gasket Plant- I: |
14/1
Mathura Road, P.O. Amar Nagar, Faridabad - 121003, Haryana, India |
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Tel. No.: |
91-129-2275434/ 35/ 36/ 37, 2275345/ 4294182/ 4294189/ 4047694 |
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Fax No.: |
91-129-2277240, 2272263 |
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E-Mail : |
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Website : |
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Head Office : |
1411, Nicholson Road, Kashmere Gate, Delhi- 110 006, India
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Corporate Office : |
400, Udyog Vihar, Phase – III, Gurugram – 122016, Haryana, India |
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Tel. No.: |
91-124-400 2963 |
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Fax No.: |
91-124-243 9222 |
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E-Mail : |
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Forging Division: |
Plot No 39-46, Industrial Growth Centre, Sector 6, Bawal, District Rewari – 123501, (Haryana), India |
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Tel. No.: |
91-1284-264441- 44 |
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Fax No.: |
91-1284-264440 |
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E-Mail : |
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Gasket Plant- II: |
Bhaskar Estate, Amar Nagar, Sector 27-C, Main Mathura Road, Faridabad- 121 003, Haryana, India |
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Gasket Plant- III: |
Plot No. 68, F-II, MIDC, Pimpri, Pune- 411 018, Maharashtra, India |
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Gasket Plant- IV: |
Plot No. B- 177, Phase- I, Eldeco- Sidcul Industrial Park, Sitarganj, Uttrakhand- 262 405, India |
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Material Division: |
Mandkola Road, Village Atta, Sohna, Gurugram- 122 003, Haryana, India |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Naresh Talwar |
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Designation : |
Managing Director |
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Address : |
D-1/36, Vasant Vihar, New Delhi-110057, India |
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Date of Appointment : |
15.07.2001 |
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DIN No.: |
00059155 |
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Name : |
Mr. Umesh Talwar |
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Designation : |
Managing Director |
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Address : |
152-F, Malcha Marg, Diplomatic Enclave, New Delhi-110021,
India |
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Date of Birth/Age : |
29.09.1950 |
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Qualification |
B.Com (Hons.) from Hindu College, Delhi University and MBA
from XLRI, Jamshedpur |
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Date of Appointment : |
18.04.2000 |
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DIN No.: |
00059271 |
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Name : |
Mr. Anil Kumar Mehra |
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Designation : |
Director |
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Address : |
B-223/ B, Greater Kailash, Part –I, New Delhi-110048,
India |
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Date of Appointment : |
31.01.2004 |
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DIN No.: |
00004654 |
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Name : |
Mr. Rajeev Ranjan Vederah |
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Designation : |
Director |
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Address : |
47, Paschimi Marg, Vasant Vihar, New Delhi-110057, India |
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Date of Appointment : |
13.02.2013 |
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DIN No.: |
00012252 |
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Name : |
Mr. Amit Burman |
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Designation : |
Director |
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Address : |
23 Kautilya Marg, Chanakayapuri, New Delhi-110021, India |
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Date of Appointment : |
25.06.2008 |
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DIN No.: |
00042050 |
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Name : |
Mr. Venkatraman Mohan |
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Designation : |
Director |
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Address : |
Waman, 46/3, Garodia Nagar, Ghatkopar (East),
Mumbai-400077, Maharashtra, India |
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Date of Appointment : |
31.01.2004 |
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DIN No.: |
00071517 |
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Name : |
Mr. Rajive Sawhney |
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Designation : |
Director |
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Address : |
52-A, Friends Colony, (East) New Delhi-110065, India |
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Date of Appointment : |
26.08.2003 |
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DIN No.: |
00071612 |
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Name : |
Mr. Navin Juneja |
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Designation : |
Director |
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Address : |
E-47, Greater Kailash – II, New Delhi-110048, India |
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Date of Birth/Age : |
30.09.1957 |
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Qualification |
B.Sc. (Hons.) (Mathematics) and Chartered Accountant (FCA) |
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Date of Appointment : |
12.11.2010 |
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DIN No.: |
00094520 |
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Name : |
Mr. Vidur Talwar |
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Designation : |
Director |
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Address : |
D-1/36, Vasant Vihar, New Delhi -110057, India |
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Date of Appointment : |
12.02.2015 |
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DIN No.: |
00114643 |
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Name : |
Mr. Varun Talwar |
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Designation : |
Whole-time Director |
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Address : |
D-1/36, Vasant Vihar, New Delhi -110057, India |
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Date of Birth/Age : |
20.06.1969 |
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Qualification : |
BS in Business Administration |
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Experience : |
21 years of rich experience in IT sector, Auto Components and Health Care Industry |
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Date of Appointment : |
14.08.2008 |
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DIN No.: |
00263984 |
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Name : |
Mr. Anuj Talwar |
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Designation : |
Whole-time Director |
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Address : |
152-F, Malcha Marg, Diplomatic Enclave, New Delhi-110021,
India |
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Date of Birth/Age : |
19.12.1980 |
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Qualification : |
Bachelor in Business Administration from College of William & Mary, Virginia, USA and Master of Business Administration from Boston University Graduate School of Management |
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Experience : |
12 years of rich experience in Corporate Finance, Credit analysis and Auto Industry |
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Date of Appointment : |
14.08.2012 |
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DIN No.: |
00628063 |
KEY EXECUTIVES
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Name : |
Mr. Manish Khanna |
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Designation : |
Chief Finance Officer |
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Address : |
H.No. 860 Sector -16, Faridabad -121002, Haryana, India |
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Date of Appointment : |
15.06.2016 |
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PAN No.: |
AFNPK9894A |
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Name : |
Mrs. Seema Narang |
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Designation : |
Company Secretary |
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Address : |
C-5/5, Safdarjung Development Area, New Delhi-110016,
India |
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Date of Appointment : |
22.02.2010 |
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PAN No.: |
ACRPN4358F |
SHAREHOLDING PATTERN
AS ON 31.12.2017
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Category of
shareholder |
Total Nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957) As a % |
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(A) Promoter & Promoter Group |
6991190 |
56.63 |
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(B) Public |
5354440 |
43.37 |
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Grand Total |
12345630 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
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Category of
shareholder |
Total Nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR 1957)As a % |
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A1) Indian |
0.00 |
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Individuals/Hindu
undivided Family |
1880840 |
15.23 |
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UMESH TALWAR |
431906 |
3.50 |
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VIDUR TALWAR |
16176 |
0.13 |
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BIMPI TALWAR |
341197 |
2.76 |
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NARESH TALWAR |
422299 |
3.42 |
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ASHA BURMAN |
43347 |
0.35 |
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VARUN TALWAR |
17985 |
0.15 |
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ANUJ TALWAR |
62851 |
0.51 |
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KUMKUM TALWAR |
450079 |
3.65 |
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ANANNYA TALWAR |
23750 |
0.19 |
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ALIESHA TALWAR |
23750 |
0.19 |
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VIRAT TALWAR |
23750 |
0.19 |
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JAI VIR TALWAR |
23750 |
0.19 |
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Any Other (specify) |
5110350 |
41.39 |
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TALBROS INTERNATIONAL
PRIVATE LIMITED |
4571620 |
37.03 |
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TALBROS MOTORS PRIVATE
LIMITED |
538730 |
4.36 |
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Sub Total A1 |
6991190 |
56.63 |
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A2) Foreign |
0.00 |
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A=A1+A2 |
6991190 |
56.63 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name
of the Shareholders |
Total No. shares
held |
Shareholding %
calculated as per SCRR 1957 As a % |
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B1) Institutions |
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Foreign Portfolio
Investors |
8631 |
0.07 |
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Financial Institutions/
Banks |
18428 |
0.15 |
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Insurance Companies |
229000 |
1.85 |
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GENERAL INSURANCE
CORPORATION OF INDIA |
229000 |
1.85 |
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Sub Total B1 |
256059 |
2.07 |
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B2) Central Government/ State
Government(s)/ President of India |
0.00 |
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B3) Non-Institutions |
0.00 |
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Individual share capital
upto INR 0.200 Million |
3707801 |
30.03 |
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Individual share capital
in excess of INR 0.200 Million |
406697 |
3.29 |
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SANJEEV VINODCHANDRA PAREKH |
142481 |
1.15 |
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NBFCs registered with RBI |
8196 |
0.07 |
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Any Other (specify) |
975687 |
7.90 |
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Trusts |
140 |
0.00 |
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NRI |
177486 |
1.44 |
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Clearing Members |
72902 |
0.59 |
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NRI – Non- Repat |
47447 |
0.38 |
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Bodies Corporate |
596407 |
4.83 |
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GYAN ENTERPRISES PRIVATE
LIMITED |
136111 |
1.10 |
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IEPF |
81305 |
0.66 |
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Sub Total B3 |
5098381 |
41.30 |
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B=B1+B2+B3 |
5354440 |
43.37 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Gaskets and Forgings. [Registered
Activity] |
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Products / Services
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
579 (Approximately) |
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Bankers : |
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Facilities : |
Notes:- LONG TERM BORROWINGS * Term Loan from IDFC bank carrying rate of interest @ 9.75 % per annum is secured by first charge on fixed assets to be purchased out of proceeds of term loan and is further secured by personal guarantee of three directors. ** Term Loan from IndusInd bank carrying rate of interest @ base rate plus 1 % per annum was secured by first charge by way of hypothecation over specific assets created out of the term loan both present and future, second paripassu charge over entire current assets of the Company both present and future and personal guarantee of two directors. *** Term loan-I from Bajaj Finance Limited carrying rate of interest @ 11.15 % to 12.15% per annum is secured by first and exclusive charge over existing plant and machinery of the Company’s Gasket division situated at Faridabad and is further secured by personal guarantee of two directors. **** Term loan-II from Bajaj Finance Limited carrying rate of interest @ 9.65% per annum is secured by first and exclusive charge over existing plant and machinery of the Company’s Gasket division situated at Faridabad and is further secured by personal guarantee of three directors. # Term loan from Tata Capital Financial Services Limited carrying rate of interest @ 10.75 % per annum is secured by first charge on all assets financed under this facility and is further secured by personal guarantee of three directors. Terms of repayment
of long term borrowings (INR In Million)
SHORT TERM
BORROWINGS * Working capital loans from State Bank of India, ICICI Bank, DBS Bank, IndusInd Bank, Yes Bank and HDFC Bank are secured by way of first pari-passu charge on all current assets, both present & future. Further, secured by second pari- passu charge on all the fixed assets, both present and future, excluding those exclusively charged to other lenders and personal guarantee of two directors of the Company. ** Working capital loans from HDFC Bank, Bajaj Finance
Limited and Tata Capital Financial Services Limited are secured by personal
guarantee of two directors of the Company. |
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Auditors : |
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Name : |
S. N. Dhawan and Company Chartered Accountants |
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Address : |
C- 37, Connaught Place, New Delhi- 110 001, India |
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Tel. No.: |
91-11-43684444/ 43008546 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Jointly Controlled
Entities: |
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Investing party in
respect of which the Company is an associate: |
Talbros International Private Limited |
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Enterprise over which
key management personnel exercise significant influences: |
QH Talbros Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
INR 10/- each |
INR 200.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12345630 |
Equity Shares |
INR 10/- each |
INR 123.456 Million |
|
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Terms / rights
attached to equity shares
The Company has only one class of equity shares having a par value of INR 10 per share. Each holder of equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to approval of shareholders in ensuing Annual General Meeting.
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
|
|
|
|
QH Talbros Private Limited |
0.000 |
0.00 |
|
Talbros International Private Limited |
4370022 |
35.40 |
|
Total |
4370022 |
35.40 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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I.
EQUITY AND LIABILITIES |
|
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(1)Shareholders' Funds |
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|
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(a) Share Capital |
123.456 |
123.456 |
123.456 |
|
(b) Reserves &
Surplus |
1236.153 |
1153.991 |
1094.431 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
1359.609 |
1277.447 |
1217.887 |
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
166.444 |
168.385 |
229.715 |
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(b) Deferred tax
liabilities (Net) |
64.525 |
95.279 |
59.440 |
|
(c) Other long term
liabilities |
2.226 |
2.226 |
2.736 |
|
(d) long-term provisions |
29.590 |
31.042 |
37.555 |
|
Total Non-current
Liabilities (3) |
262.785 |
296.932 |
329.446 |
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|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
855.760 |
892.908 |
850.121 |
|
(b) Trade payables |
931.030 |
892.713 |
750.377 |
|
(c) Other current
liabilities |
245.143 |
242.036 |
292.999 |
|
(d) Short-term provisions |
31.404 |
35.115 |
25.004 |
|
Total Current Liabilities
(4) |
2063.337 |
2062.772 |
1918.501 |
|
|
|
|
|
|
TOTAL |
3685.731 |
3637.151 |
3465.834 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1182.961 |
914.338 |
882.114 |
|
(ii) Intangible Assets |
4.811 |
7.268 |
12.986 |
|
(iii) Capital
work-in-progress |
10.522 |
0.000 |
46.368 |
|
(iv) Intangible assets
under development |
6.132 |
5.646 |
3.847 |
|
(b) Non-current
Investments |
331.427 |
322.942 |
260.442 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
98.179 |
117.280 |
114.402 |
|
(e) Other Non-current
assets |
5.721 |
4.735 |
4.925 |
|
Total Non-Current Assets |
1639.753 |
1372.209 |
1325.084 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
987.582 |
1278.483 |
1136.808 |
|
(c) Trade receivables |
785.612 |
707.211 |
669.022 |
|
(d) Cash and cash
equivalents |
64.339 |
48.146 |
54.117 |
|
(e) Short-term loans and
advances |
195.935 |
222.952 |
272.316 |
|
(f) Other current assets |
12.510 |
8.150 |
8.487 |
|
Total Current Assets |
2045.978 |
2264.942 |
2140.750 |
|
|
|
|
|
|
TOTAL |
3685.731 |
3637.151 |
3465.834 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3287.961 |
3100.852 |
3108.389 |
|
|
Other Income |
87.526 |
63.045 |
106.592 |
|
|
TOTAL |
3375.487 |
3163.897 |
3214.981 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1759.353 |
1749.179 |
1732.240 |
|
|
Purchases of
Stock-in-Trade |
23.684 |
26.725 |
20.790 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
23.243 |
(110.594) |
(107.345) |
|
|
Employees benefits
expense |
463.103 |
435.570 |
408.484 |
|
|
Other expenses |
697.865 |
659.803 |
18.686 |
|
|
Exceptional
Items |
0.000 |
0.000 |
755.647 |
|
|
TOTAL |
2967.248 |
2760.683 |
2828.502 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
408.239 |
403.214 |
386.479 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
157.515 |
166.248 |
175.395 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
250.724 |
236.966 |
211.084 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
123.139 |
119.968 |
80.304 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
127.585 |
116.998 |
130.780 |
|
|
|
|
|
|
|
Less |
TAX |
23.134 |
35.150 |
30.995 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
104.451 |
81.848 |
99.785 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
629.748 |
575.188 |
502.691 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
5.000 |
5.000 |
5.000 |
|
|
Proposed Dividend |
18.518 |
18.518 |
18.518 |
|
|
Tax on Dividend |
3.770 |
3.770 |
3.770 |
|
|
Balance Carried to the
B/S |
706.911 |
629.748 |
575.188 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
651.929 |
598.929 |
709.159 |
|
|
TOTAL EARNINGS |
651.929 |
598.929 |
709.159 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw
materials, stores & spares |
658.234 |
588.860 |
540.473 |
|
|
Plant
and machinery |
14.289 |
0.918 |
41.516 |
|
|
Tools
& dies |
0.000 |
0.000 |
3.183 |
|
|
TOTAL IMPORTS |
672.523 |
589.778 |
585.172 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
8.46 |
6.63 |
8.08 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
79.253 |
92.434 |
139.711 |
|
Cash generated from operations |
400.270 |
304.811 |
274.275 |
|
Net Cash generated from operating activities |
375.970 |
286.720 |
235.118 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2017 (Unaudited) |
30.09.2017 (Unaudited) |
31.12.2017 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net sales |
871.370 |
1007.260 |
1019.770 |
|
Total Expenditure |
801.290 |
908.310 |
908.850 |
|
PBIDT (Excluding Other Income) |
70.080 |
98.950 |
110.920 |
|
Other income |
21.790 |
14.760 |
29.540 |
|
Operating Profit |
91.880 |
113.710 |
140.460 |
|
Interest |
33.540 |
35.190 |
35.350 |
|
Exceptional Items |
NA |
21.580 |
NA |
|
PBDT |
58.340 |
100.100 |
105.110 |
|
Depreciation |
33.430 |
34.760 |
33.190 |
|
Profit Before Tax |
24.910 |
65.340 |
71.920 |
|
Tax |
5.920 |
10.960 |
20.470 |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit after tax |
18.990 |
54.380 |
51.460 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
18.990 |
54.380 |
51.460 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
87.21 |
83.25 |
78.56 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.19 |
4.38 |
4.65 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
190.59 |
183.48 |
156.24 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.41 |
0.32 |
0.34 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.34 |
0.43 |
0.41 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.63 |
0.64 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.81 |
0.90 |
1.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.52 |
1.61 |
1.58 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.89 |
0.73 |
0.78 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.59 |
2.43 |
2.20 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
3.18 |
2.64 |
3.21 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.83 |
2.25 |
2.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
7.68 |
6.41 |
8.19 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.99 |
1.10 |
1.12 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.51 |
0.48 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.37 |
0.35 |
0.35 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
8.92 |
9.35 |
9.88 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.99 |
1.10 |
1.12 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00 |
|
Market Value |
INR 288.00 |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
123.456 |
123.456 |
123.456 |
|
Reserves & Surplus |
1094.431 |
1153.991 |
1236.153 |
|
Net
worth |
1217.887 |
1277.447 |
1359.609 |
|
|
|
|
|
|
Long-Term Borrowings |
229.715 |
168.385 |
166.444 |
|
Short Term Borrowings |
850.121 |
892.908 |
855.760 |
|
Current Maturities of Long term debt |
139.711 |
92.434 |
79.253 |
|
Total
borrowings |
1219.547 |
1153.727 |
1101.457 |
|
Debt/Equity
ratio |
1.001 |
0.903 |
0.810 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
3108.389 |
3100.852 |
3287.961 |
|
|
|
(0.242) |
6.034 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
3108.389 |
3100.852 |
3287.961 |
|
Profit |
99.785 |
81.848 |
104.451 |
|
|
3.21% |
2.64% |
3.18% |
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
123.456 |
123.456 |
|
(b) Reserves &
Surplus |
|
1295.678 |
1193.958 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1419.134 |
1317.414 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
203.352 |
228.722 |
|
(b) Deferred tax
liabilities (Net) |
|
40.985 |
71.111 |
|
(c) Other long term
liabilities |
|
1.113 |
2.226 |
|
(d) long-term provisions |
|
33.622 |
33.951 |
|
Total Non-current
Liabilities (3) |
|
279.072 |
336.010 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
867.760 |
905.646 |
|
(b) Trade payables |
|
1143.743 |
1068.019 |
|
(c) Other current
liabilities |
|
296.184 |
295.351 |
|
(d) Short-term provisions |
|
33.180 |
34.474 |
|
Total Current Liabilities
(4) |
|
2340.867 |
2303.490 |
|
|
|
|
|
|
TOTAL |
|
4039.073 |
3956.914 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1438.355 |
1143.123 |
|
(ii) Intangible Assets |
|
22.431 |
25.330 |
|
(iii) Capital
work-in-progress |
|
12.654 |
8.346 |
|
(iv) Intangible assets
under development |
|
6.132 |
5.646 |
|
(b) Non-current
Investments |
|
80.627 |
72.142 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
110.145 |
140.235 |
|
(e) Other Non-current
assets |
|
5.721 |
4.735 |
|
Total Non-Current Assets |
|
1676.065 |
1399.557 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1114.426 |
1410.916 |
|
(c) Trade receivables |
|
902.781 |
798.027 |
|
(d) Cash and cash
equivalents |
|
124.951 |
81.359 |
|
(e) Short-term loans and
advances |
|
208.011 |
242.997 |
|
(f) Other current assets |
|
12.839 |
24.058 |
|
Total Current Assets |
|
2363.008 |
2557.357 |
|
|
|
|
|
|
TOTAL |
|
4039.073 |
3956.914 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
4281.348 |
3918.526 |
|
|
Other Income |
|
86.169 |
59.118 |
|
|
TOTAL |
|
4367.517 |
3977.644 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
2337.913 |
2203.446 |
|
|
Purchases of
Stock-in-Trade |
|
71.865 |
85.246 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
17.442 |
(103.477) |
|
|
Employees benefits
expense |
|
561.534 |
516.020 |
|
|
Other expenses |
|
852.533 |
785.191 |
|
|
Exceptional
Items |
|
0.000 |
19.280 |
|
|
TOTAL |
|
3841.287 |
3505.706 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
526.230 |
471.938 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
166.646 |
176.927 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
359.584 |
295.011 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
152.899 |
153.120 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
206.685 |
141.891 |
|
|
|
|
|
|
|
Less |
TAX |
|
49.437 |
44.785 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
157.248 |
97.106 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
12.74 |
7.87 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
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) |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
FINANCIAL REVIEW
Financial year 2016-17 was marked by couple of major events (Demonetization in India and implementation of Bharat Standard VI norms). These along with the diesel ban of 2000 CC above hugely impacted the automotive industry. The auto industry for the last year grew at 5% while the last quarter was a negative at 0.19%.
During the Financial Year 2016-17 the Company on standalone basis has recorded a turnover of INR 3280.000 million, higher by approximately 6% as compared to last Financial Year 2015-16 with turnover of INR 3100.000 million. Profit after tax (PAT) for the Company was at INR 100.000 million, higher by approximately 27% as compared to PAT of INR 80.000 million in previous year 2015-16.
The JV Company Nippon Leakless Talbros Private Limited (LTL) recorded a turnover of INR 1080.000 million, higher by approximately 4% as compared to last Financial Year 2015-16 with turnover of INR 1030.000 million. PAT of LTL was at INR 120.000 million, higher by approximately 11% as compared to PAT of INR 110.000 million in previous year 2015-16.
The JV Company Magneti Marelli Talbros Chassis Systems Private Limited (MMT) has witnessed its best ever performance in the financial year under review and continues to bring momentum and work towards expanding its portfolio to OEMs with the leading client being Maruti Suzuki India Limited. This JV Company saw a 40% revenue growth during this financial year because of higher volumes. The Company also achieved the highest margin in this business in the last quarter of this financial year. MMT has recorded a turnover of INR 850.000 million, higher by approximately 40% as compared to last Financial Year 2015-16 with turnover of INR 610.000 million. PAT of MMT was at INR 10.000 million as compared to loss of INR 40.000 million in previous year 2015-16.
Talbros Marugo Rubber Private Limited (TMR), another JV Company has recorded a turnover of INR 300.000 million, higher by approximately 47% as compared to last Financial Year 2015-16 of INR 200.000 million.
During the financial year 2016-17 turnover of the Company after consolidation with proportionate shares in JV companies was INR 4280.000 million, higher by approximately 9% as compared to last Financial Year 2015-16 of INR 391 crores. PAT for the Company on consolidated basis was at INR 150.000 million, higher by approximately 61% as compared to PAT of INR 90.000 million in previous year 2015-16
FUTURE OUTLOOK
India has emerged as one of the fastest growing economies in recent times. The Indian economy is expected to embark on higher economic growth trajectory in FY 18 owing to proactive measures taken by the government as well as favorable economic conditions expected to prevail during the course of the year. The main driving forces in FY 18 would be increased government spending in infrastructure, pick up in private investment, good monsoon, expected surge in consumer spending with pent up demand being satiated. The Goods and Services Tax (GST), which is likely to be implemented from July 1, 2017, has potential to spur the economy further. The economic outlook of the Indian economy looks positive with the country expected to grow at more than 7.5% in FY 18 before moving past the 8% trajectory in FY 19. Certain threats, however, prevail in terms of upside risk to inflation, increasing global commodity prices especially crude oil prices, slower growth in investment and credit, rising bad loans issue and uncertain trade prospects with appreciating rupee and uncertain global economic conditions. Globally, protectionism adopted by the US and higher interest rates by the Fed, revival in European countries and higher growth in China causing diversion of funds from India could counter the prospective growth story of the country.
The long-term outlook remains positive for the automotive industry with all major global players having a base in India for manufacturing, global sourcing. Correction in fuel prices and lower finance cost should further add domestic growth in the short to medium term. Regular product launches planned by OEMs will keep customer excitement levels up and create demand and is favourable for overall industry growth.
The future outlook of the Company remains positive as the Company along with its Joint Venture Companies is actively working on both the strategic front and the operations front to take advantage of the turning trends which includes Research and Development, improving operational performances, focus on quality, broadening the customer base etc.
MANAGEMENT’S
DISCUSSION AND ANALYSIS ECONOMIC SCENARIO
Global Economy
As per IMF’s report, “World Economic Outlook” published on April 2017, steady rise in global economic activity is projected for the year 2017 and 2018 due to cyclical recovery in investment, manufacturing, and trade. The projected global growth rate for 2017 and 2018 is 3.5% and 3.6% respectively as against 3.1% in 2016. The key driving factors of growth will be favourable deflationary measures, boost in demand and agreed restrictions on oil supply.
Currently, advance economies such as U.S. is in the phase of fiscal expansion and deregulation and are expected to grow by 2.3%. But the growth in European countries is expected to remain at 1.7%, due to slow economic revival and uncertainty about the European Union’s future relationship with the United Kingdom. In 2017, United Kingdo m is projected to grow by 2.0% and Japan is likely to grow by 1.2% supported by stronger-than expected net exports.
Developing countries and emerging markets will continue to perform better and will navigate the global markets. In China, market scenario is resilient and continued policy support is expected, it is expected to grow by 6.6% in the year 2017 whereas Russia is projected to grow by 1.4%. In India, growth is forecasted at 7.2% provisioning the impact of the currency exchange initiative; medium term growth is promising with 8% resulting from implementation of key reforms, ease of supply side impediments and appropriate fiscal & monetary policies
Indian Economy
Globally, India remains one of the fastest growing economies in terms of GDP growth. As per IMF, the real GDP increased to 7.9% in 2016 from 7.2% in 2015. The projected GDP growth for 2017 is 7.1%. Indian economy is expected to grow strong due to the response gained from deep structural reforms initiated and implemented by Indian Government and strong aggregated demand. This includes approval of Goods and Service Tax (GST), which will significantly enhance the efficiency in taxation and aid businesses by converting India into a one common market place. GST is expected to be implemented by 1st July 2017.
As a push to the economy, the Government of India has committed to allocate financial resources of INR 3.960 million for the infrastructure development and INR 1.000 million for boosting the agricultural sector, which is directly correlated to overall economic development, leading to holistic growth.
On the political front, the government gained major triumph in a number of state elections, including the country’s most densely populated state Uttar Pradesh. Market reaction to this was positive, with the SENSEX closing at 29,000 on a two-year high on 14th March, 2017 and the rupee strengthening to 66.14.
The cause of concern for India is its banking system, which is still dealing with a large amount of Non-performing assets in their books and also heightened corporate vulnerabilities in several key sectors of the economy
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR
In Million |
31.03.2016 INR
In Million |
|
LONG TERM
BORROWINGS |
|
|
|
Fixed deposits |
|
|
|
- From directors |
0.500 |
1.000 |
|
- From others |
56.419 |
41.308 |
|
SHORT TERM
BORROWINGS |
|
|
|
From Others |
|
|
|
Bajaj Finance Limited ** |
85.000 |
50.000 |
|
Tata Capital Financial Services Limited ** |
0.000 |
29.831 |
|
b) Deposits |
|
|
|
Fixed deposits from public |
4.408 |
3.021 |
|
Inter-corporate deposit |
10.000 |
10.000 |
|
HDFC Bank Limited.(Unsecured)** |
0.000 |
100.000 |
|
Total |
156.327 |
235.160 |
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE
MONTHS ENDED DECEMBER 2017
(INR in Million)
|
Particulars |
Quarter Ended |
Quarter Ended |
Nine Months
Ended |
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
[Unaudited] |
[Unaudited] |
[Unaudited] |
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
1019.765 |
1007.264 |
2898.402 |
|
Other Operating Income |
29.540 |
14.763 |
66.096 |
|
Total
Income from Operations |
1049.305 |
1022.027 |
2964.498 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
549.974 |
505.863 |
1546.064 |
|
Excise duty |
(0.100) |
(0.758) |
70.311 |
|
Purchase of Stock in Trade |
6.121 |
5.759 |
16.810 |
|
Changes in inventories of finished goods and
work-in-progress |
23.818 |
77.907 |
32.351 |
|
Employee benefits expense |
132.912 |
125.594 |
382.797 |
|
Finance costs |
35.346 |
35.186 |
104.067 |
|
Depreciation and Amortization expenses |
33.193 |
34.762 |
101.387 |
|
Other Expenditure |
196.116 |
193.952 |
570.111 |
|
Total
Expenses |
977.381 |
978.265 |
2823.899 |
|
Profit
/ (Loss) from ordinary activities before Exceptional items |
71.924 |
43.762 |
140.599 |
|
Exceptional items |
0.000 |
21.577 |
21.577 |
|
Profit
/ (Loss) before Tax |
71.924 |
65.339 |
162.176 |
|
Tax Expense |
20.468 |
10.957 |
37.350 |
|
Profit
/ (Loss) after Tax |
51.456 |
54.382 |
124.826 |
|
Other comprehensive income |
39.150 |
9.467 |
53.623 |
|
Total
comprehensive income for the period |
90.606 |
63.849 |
178.449 |
|
Paid-up Equity Share Capital (Face value INR 10/- per
share) |
123.456 |
123.456 |
123.456 |
|
Reserves (excluding Revaluation Reserve) |
-- |
-- |
-- |
|
Earnings
per Share (EPS) - INR |
|
|
|
|
Basic
|
4.17 |
4.40 |
10.11 |
|
Diluted |
4.17 |
4.40 |
10.11 |
Notes:
1. The above standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors in its meeting held on February 14, 2018 and have undergone 'Limited Review' by the Statutory Auditors of the Company.
2. The standalone financial results have been prepared in accordance with the
principles and procedures of
Indian Accounting Standards ("Ind AS") as notified under the Companies (Indian Accounting Standards) Rules, 2015 as specified in Section 133 of the Companies Act, 2013.
3. The Company has adopted Indian Accounting Standards ('Ind AS') from 1st
April, 2017 and accordingly, these financial results have been prepared in
accordance with the recognition and measurement principles laid down in Ind AS
34 'Interim Financial Reporting' prescribed under section 133 of the Companies
Act, 2013, read with relevant rules issued thereunder. The date of transition
to Ind AS is 1st April, 2016. The impact of transition has been accounted for
in the opening reserves and the comparative period results have been restated
accordingly. The opening balance sheet as at 1st April, 2016 and the results
for the subsequent periods would be finalised and will be subject to audit at
the time of annual financial statements for the year ended 31st March,
2018.
4. In line with the provisions of Ind AS 108 - Operating Segments and on the
basis the review of operations being done by the senior management, the
operations of the Company fall under Auto Components & Parts business,
which is considered to be the only reportable segment by the management.
5. Goods and Service Tax ("GST") has been implemented effective 1st
July 2017 which has replaced various Indirect taxes including excise duty. As
per the relevant accounting principles under IND AS, Revenue was required to be
reported inclusive of excise duty but net of other indirect taxes. Accordingly,
revenue from operations for the first quarter of current financial year
included in nine month period ended 31st December 2017, for the quarter ended
31st December 2016 and nine month period ended 31st December 2016 are reported
inclusive of excise duty but of net of all other taxes. Revenue from operations
for the quarters ended December 2017 and 30th September 2017 and for the nine
month period ended 31 December 2017 (except for first quarter of current
financial year) is net of all taxes including GST.
6. Exceptional items represents profit on sale of assets under partial
strategic disinvestment at non-core material business assets at its Sohna
plant.
INDEX OF CHARGES:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G58593146 |
100129696 |
AXIS BANK LIMITED |
28/09/2017 |
- |
100000000.0 |
2ND FLOOR, RED FORT CAPITAL TOWER, PARSVNATH TOWERS,GOLE MARKET, BHAI VEER SINGH MARG, NEW DELHI -110001, INDIA |
|
2 |
G45314952 |
100101368 |
BAJAJ FINANCE LIMITED |
28/03/2017 |
- |
150000000.0 |
AKURDI PUNE-PUNE – 411035, MAHARASHTRA, INDIA |
|
3 |
G37185055 |
100080386 |
IDFC BANK LIMITED |
27/02/2017 |
- |
40000000.0 |
KRM TOWER, 8TH FLOOR, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI – 600031, TAMILNADU, INDIA |
|
4 |
G75790444 |
100041301 |
IDFC BANK LIMITED |
22/07/2016 |
31/01/2018 |
250000000.0 |
KRM TOWER, 7TH FLOOR, NO. 1, HARRINGTON ROAD, CHETPET, CHENNAI – 600031, TAMILNADU, INDIA |
|
5 |
C68943281 |
10600166 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
08/10/2015 |
- |
160000000.0 |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI – 400001, MAHARASHTRA, INDIA |
|
6 |
G08556532 |
10534657 |
DBS BANK LIMITED |
04/12/2014 |
27/01/2016 |
200000000.0 |
CAPITAL POINT, BABA KHARAK SINGH MARG, CONNAUGHT PLACE, NEW DELHI – 110001, INDIA |
|
7 |
G76031665 |
10461778 |
HDFC BANK LIMITED |
18/11/2013 |
31/01/2018 |
500000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI – 400013, MAHARASHTRA, INDIA |
|
8 |
G11972411 |
10422086 |
INDUSIND BANK LTD. |
16/04/2013 |
25/07/2016 |
220000000.0 |
DR. GOPAL DAS BUILDING28, BARAKHAMBA ROAD, NEW DELHI – 110001, TAMILNADU, INDIA |
|
9 |
B96207832 |
10395724 |
BAJAJ FINANCE LIMITED |
27/12/2012 |
18/01/2014 |
100000000.0 |
MUMBAI PUNE ROAD, AKURDI, PUNE – 411035, MAHARASHTRA, INDIA |
|
10 |
B37261096 |
10348603 |
YES BANK LIMITED |
26/03/2012 |
- |
50000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI – 400018, MAHARASHTRA, INDIA |
FIXED ASSETS:
- Land
- Buildings
- Leasehold improvements
- Plant, Machinery & Equipments
- Motor vehicles
- Furniture and fixtures
- Office Equipments
- Electrical installation
- Air-conditioning plant
- Tube-well
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
|
INR |
|
US Dollar |
1 |
INR 65.05 |
|
|
1 |
INR 80.03 |
|
Euro |
1 |
INR 89.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
ASK |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
GEET |
SCORE FACTORS
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.