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|
MIRA INFORM REPORT
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Report No. : |
498766 |
|
Report Date : |
22.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
TAL MANUFACTURING SOLUTIONS LIMITED (w.e.f. 30.01.2002) |
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Formerly Known
As : |
TELCO AUTOMATION LIMITED |
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Registered
Office : |
PDO Building, Tata Motors Campus, Chinchwad, Pune – 411033,
Maharashtra |
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Tel. No.: |
91-20-66135509/5550/5510 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
13.03.2000 |
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Com. Reg. No.: |
11-130290 |
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Capital
Investment / Paid-up Capital : |
INR 1150.000 Million |
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CIN No.: [Company Identification
No.] |
U29100PN2000PLC130290 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TIN No.: |
27160404059 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AABCT1342E1ZR |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCT1342E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of designing and
building machine tools, material handling systems, test rigs, painting
systems, assembly and process lines, robotic welding solutions, fixtures and
tooling, fluid power solutions and aerospace solutions. [Registered Activity] |
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|
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
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 a wholly owned subsidiary of “Tata Motors Limited” and was incorporated on 13th March 2000. It provides a range of products and services for manufacturing solutions through engineering, design, manufacture, and commissioning of machines, equipment, and facilities. Management has failed to file its financials for the year 2017 with Registrar of Companies. However, as per indirect source we could find that the company has achieved revenue of INR 2970.000 million for FY-2017 and has clocked a net profit margin of around 4%. As per the available financials of 2016, the company possesses moderate operational performance and it has incurred losses from its operational activities. Rating takes into account, the strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. The company’s average financial profile marked by average net worth base and sound debt coverage indicators. However, rating strength is partially offset by operating performance to capital expenditure (capex) undertaken by its end-user industries, timely project completion and execution risks, and its working-capital-intensive operations, which constrain its return on capital employed. Trade relations are reported as fair. Payments seems to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
28.12.2017 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating = A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
|
Date |
28.12.2017 |
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 22.03.2018.
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-20-66135509)
LOCATIONS
|
Registered Office/ Corporate Office/ Factory 1 : |
PDO Building, Tata Motors Campus, Chinchwad, Pune – 411033,
Maharashtra, India |
|
Tel. No.: |
91-20-66135509/5550/5510 |
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Fax No.: |
91-20-66136318/ 66135404 |
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E-Mail : |
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Website : |
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Factory 2 : |
Aerospace Division, Sector-3, Kalkuhi Village, Mihan SEZ, Nagpur –
441108, Maharashtra, India |
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Regional Office
(South) : |
Tata Motor Office, 7th floor, Kasi Arcade, 116, |
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Tel. No.: |
91-44-28153815 |
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Regional Office (North) : |
Tata Motor Office, No.1, Ghazipur Industrial Area, Patpargani, |
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Tel. No.: |
91-11-22232033 |
DIRECTORS
AS ON 2018
|
Name : |
Mr. Ganesh Raghavan |
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Designation : |
Managing Director |
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Address : |
605/606, Rejoice, Citi Of Joy Jsd Road, Opposite To Lok Everest, Mulund (West), Mumbai-400080, Maharashtra, India |
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Date of Appointment : |
02.11.2017 |
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DIN No.: |
07927944 |
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Name : |
Mr. Rajesh Gobindram Khatri |
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Designation : |
Whole-Time Director |
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Address : |
FL-A/1001, Waters Edge, 18/1/1, Vishal Nagar, Pimple Nilakh, Pune-411027, Maharashtra, India |
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Date of Birth/Age : |
11.07.1962 |
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Qualification : |
B.E. in Production Engineering. |
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Date of Appointment : |
01.10.2012 |
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PAN No.: |
AAFPK1960N |
|
DIN No.: |
03620093 |
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Name : |
Mr. Rameshwar Singh Thakur |
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Designation : |
Director |
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Address : |
Flat No.205, Burlington Hiranandani Estate, Patlipada, Thane (West), Mumbai- 400607, Maharashtra, India |
|
Date of Appointment : |
17.07.2006 |
|
DIN No.: |
00020126 |
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Name : |
Mr. Raghunath Anant Mashelkar |
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Designation : |
Director |
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Address : |
D-4, Varsha Park, Raghunath Bunglow, Baner Road, Baner, Pune-411045, Maharashtra, India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
00074119 |
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Name : |
Mr. Satish Pradhan Bahskar |
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Designation : |
Director |
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Address : |
191/194 Clover Water Gardens, Plot No. 69, Kalyani Nagar, Pune-411014, Maharashtra, India |
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Date of Birth/Age : |
04.01.1955 |
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Qualification : |
Masters in
History from |
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Date of Appointment : |
08.08.2001 |
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DIN No.: |
00175969 |
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|
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Name : |
Ms. Padmini Bhalchandra Khare |
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Designation : |
Director |
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Address : |
107 1st Floor Cumballa, Co-operative Society, G D Marg Peddar Road, Mumbai -400026, Maharashtra, India |
|
Date of Appointment : |
31.03.2015 |
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DIN No.: |
00296388 |
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Name : |
Mr. Satish Balkrishna Borwankar |
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Designation : |
Director |
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Address : |
Fl N. 22, Viola S No. 118/3-5, Warje, Near Cipla Hospital, Kothrud,
Pune – 411052, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1952 |
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Date of Appointment : |
29.07.2012 |
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DIN No.: |
01793948 |
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Name : |
Mr. Ajit Shah |
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Designation : |
Director |
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Address : |
Mansen Barrister Building, 17/A, Banganga Road, Walkeshwar, Mumbai - 400006, Maharashtra, India |
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Date of Appointment : |
03.11.2015 |
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DIN No.: |
02396765 |
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Name : |
Mr. Banmali Agrawala |
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Designation : |
Additional Director |
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Address : |
C-602, Palm Springs Golf Course Road, Sector 54, Gurugram-122001, Haryana, India |
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Date of Appointment : |
22.01.2018 |
|
DIN No.: |
00120029 |
KEY EXECUTIVES
|
Name : |
Mr. Santanu Sil |
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Designation : |
Company Financial Officer (KMP) |
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Address : |
C-1201, Montvert Tropez, Survey No. 239, Wakad, Pune-411057, Maharashtra, India |
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Date of Appointment : |
01.01.2015 |
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PAN No.: |
AEIPS9449F |
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Name : |
Mr. Ganesh Raghavan |
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Designation : |
Chief Executive Officer (KMP) |
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Address : |
605/606, Rejoice, Citi Of Joy Jsd Road Opposite To Lok Everest, Mulund (West), Mumbai-400080, Maharashtra, India |
|
Date of Appointment : |
02.11.2017 |
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PAN No.: |
Acgpg0376d |
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Name : |
Mr. Jagdish Jaising Shirke |
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Designation : |
Company Secretary |
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Address : |
C/O Jagtap, Flat No. 103, Gadsing Paradise, Sudarshan Nagar, Chinchwad, Pune - 411033, Maharashtra, India |
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Date of Appointment : |
06.04.2015 |
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PAN No.: |
AZNPS1380H |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Tata Motors Limited, India |
114999930 |
|
Tata Motors Limited, India Jointly With Hoshang K Sethna |
10 |
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Tata Motors Limited, India Jointly With Chandrasekaran Ramakrishnan |
10 |
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Tata Motors Limited, India Jointly With Vispi Patel |
10 |
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Tata Motors Limited, India Jointly With Ravindra Pisharody |
10 |
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Tata Motors Limited, India Jointly With Vijay B Somaiya |
20 |
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Tata Motors Limited, India Jointly With Abhijit Gajendragadkar |
10 |
|
Total |
115000000 |
AS ON 05.08.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of designing and
building machine tools, material handling systems, test rigs, painting
systems, assembly and process lines, robotic welding solutions, fixtures and
tooling, fluid power solutions and aerospace solutions. [Registered Activity] |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
706, ‘B’ Wing, ICC Trade Tower, International Convention Centre, Senapati Bapat Road, Pune - 411016, Maharashtra, India |
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PAN No.: |
AABFD7919A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : (As on 31.03.2017) |
Tata Motors Limited, India CIN No.:L28920MH1945PLC004520 |
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Holding Company : (As on 31.03.2016) |
Tata Motors Limited, India CIN No.:L28920MH1945PLC004520 |
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Fellow Subsidiary Company : (As on 31.03.2016) |
CIN No.: U34100MH2000PLC124874
CIN No.:U34101MH2006PLC164771
CIN No.:U72200PN1994PLC013313
CIN No.: U45200MH1989PLC050444 |
CAPITAL STRUCTURE
AS ON 05.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
INR 10/- each |
INR 1200.000 Million |
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115000000 |
Equity Shares |
INR 10/- each |
INR 1150.000 Million |
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|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1150.000 |
1000.000 |
650.000 |
|
(b) Reserves and Surplus |
(450.324) |
(310.489) |
(127.159) |
|
(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) |
699.676 |
689.511 |
522.841 |
|
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|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
198.481 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
6.847 |
9.216 |
12.892 |
|
(d) long-term
provisions |
137.309 |
114.816 |
99.254 |
|
Total Non-current
Liabilities (3) |
342.637 |
124.032 |
112.146 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
592.150 |
478.885 |
6.349 |
|
(b) Trade
payables |
647.506 |
609.275 |
419.273 |
|
(c) Other
current liabilities |
434.189 |
439.833 |
1038.939 |
|
(d) Short-term
provisions |
56.263 |
34.731 |
20.042 |
|
Total Current
Liabilities (4) |
1730.108 |
1562.724 |
1484.603 |
|
|
|
|
|
|
TOTAL |
2772.421 |
2376.267 |
2119.590 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
844.910 |
485.561 |
426.923 |
|
(ii)
Intangible Assets |
3.588 |
8.433 |
14.112 |
|
(iii) Tangible assets
capital work-in-progress |
161.836 |
347.444 |
279.762 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
1.151 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
169.189 |
146.702 |
154.523 |
|
(e) Other
Non-current assets |
3.500 |
3.500 |
3.500 |
|
Total Non-Current
Assets |
1183.023 |
991.640 |
879.971 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
748.680 |
752.439 |
454.188 |
|
(c) Trade
receivables |
681.786 |
378.596 |
412.576 |
|
(d) Cash and
bank balances |
4.822 |
3.412 |
25.531 |
|
(e)
Short-term loans and advances |
57.590 |
71.103 |
207.838 |
|
(f) Other
current assets |
96.520 |
179.077 |
139.486 |
|
Total
Current Assets |
1589.398 |
1384.627 |
1239.619 |
|
|
|
|
|
|
TOTAL |
2772.421 |
2376.267 |
2119.590 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2064.074 |
1236.405 |
1248.287 |
|
|
Other Income |
144.899 |
105.560 |
65.320 |
|
|
TOTAL |
2208.973 |
1341.965 |
1313.607 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1326.408 |
1029.764 |
870.759 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(26.091) |
(66.312) |
31.107 |
|
|
Employee benefit expense |
500.060 |
440.756 |
449.898 |
|
|
Other expenses |
420.065 |
51.315 |
236.974 |
|
|
TOTAL |
2220.442 |
1455.523 |
1588.738 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(11.469) |
(113.558) |
(275.131) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
65.861 |
29.959 |
7.063 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(77.330) |
(143.517) |
(282.194) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
62.505 |
39.813 |
41.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(139.835) |
(183.330) |
(323.894) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(139.835) |
(183.330) |
(323.894) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(310.489) |
(127.159) |
196.735 |
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
(450.324) |
(310.489) |
(127.159) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1020.726 |
148.907 |
140.018 |
|
|
TOTAL EARNINGS |
1020.726 |
148.907 |
140.018 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
806.923 |
548.662 |
252.920 |
|
|
Capital Goods |
474.296 |
601.229 |
201.516 |
|
|
TOTAL IMPORTS |
1281.219 |
1149.891 |
454.436 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(1.25) |
(2.44) |
(4.98) |
|
Particulars |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
2970.000 |
The above information has been taken from indirect source.
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
(322.360) |
(872.120) |
(145.437) |
|
Net cash flows from (used in) operating activities |
(324.548) |
(875.033) |
(151.541) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
120.56 |
111.77 |
120.64 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
3.03 |
3.27 |
3.03 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
178.18 |
215.96 |
175.75 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(0.02) |
(0.15) |
(0.61) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(0.01) |
()0.13) |
(0.38) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.70 |
0.66 |
0.70 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.13 |
0.69 |
0.01 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.47 |
2.27 |
2.84 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.44 |
1.22 |
1.38 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(0.17) |
(3.79) |
(38.95) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
(6.77) |
(14.83) |
(25.95) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(5.04) |
(7.72) |
(15.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(19.99) |
(26.59) |
(61.95) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.92 |
0.89 |
0.83 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.49 |
0.40 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.25 |
0.29 |
0.25 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
(1.76) |
(1.54) |
(0.05) |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.92 |
0.89 |
0.83 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
650.000 |
1000.000 |
1150.000 |
|
Reserves & Surplus |
(127.159) |
(310.489) |
(450.324) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
522.841 |
689.511 |
699.676 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
198.481 |
|
Short term borrowings |
6.349 |
478.885 |
592.150 |
|
Total
borrowings |
6.349 |
478.885 |
790.631 |
|
Debt/Equity
ratio |
0.012 |
0.695 |
1.130 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1248.287 |
1236.405 |
2064.074 |
|
|
|
(0.952) |
66.942 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1248.287 |
1236.405 |
2064.074 |
|
Profit/ (Loss) |
(323.894) |
(183.330) |
(139.835) |
|
|
(25.95%) |
(14.83%) |
(6.77%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last four 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 |
GENERAL INFORMATION
The Company was incorporated on March 13, 2000 and is engaged in the business of designing and building machine tools, material handling systems, test rigs, painting systems, assembly and process lines, robotic welding solutions, fixtures and tooling, fluid power solutions and aerospace solutions.
OUTLOOK
The global environment will continue to cast its shadow over the emerging economies. Efforts will be needed to regain the investor confidence and revive the growth cycle. In India, the reforms are in the right direction and with the downturn in the commodity cycle it augurs well for the medium and long term. A good monsoon this year could provide the necessary boost to consumption demand. In line with its Strategic Plan 2020, Aerospace and Robotics and Automation continue to be the growth engines for the Company. With a projected 5% CAGR long-term growth in commercial aircrafts, the Aerospace segment continues to offer good growth opportunities. The OEM and Tier-1 companies are keen to source their requirements - parts, assemblies and tooling, from India to leverage low-cost advantage and fulfill offset obligations.
The company has taken proactive steps to exploit the growing opportunity in Aerospace. It has continually advanced its capabilities and implemented initiatives for operational excellence and is well prepared to leverage them for an accelerated growth. The revenues from the dedicated facility at Nagpur are expected to grow exponentially as the production rate gets ramped up. The Company is building a strong team to aggressively market the indigenously built Robots and automation solutions. The current density of Robots in India is around 1 per 10,000 industrial employees as against 400 in Korea and 50 in China. With 40% demand in the handling segment, the company is well positioned to exploit the huge potential with cost effective robotic solutions. With low scalability and poor margins, the legacy businesses viz. Machine Tools and Material Handling are losing their strategic relevance for TAL - and have been a big drain on its profitability. Opportunities / options for transitioning to sunrise segments are being reviewed by the Board of Directors.
Continued thrust on cost reduction and lean measures will continue to be the guiding force to drive efficiencies.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2016 INR In Million |
31.03.2015 INR In Million |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
50.000 |
140.000 |
|
Total |
50.000 |
140.000 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G79141321 |
100110629 |
IDFC BANK LIMITED |
28/06/2017 |
27/02/2018 |
- |
2700000000.0 |
KRM Tower, 7th Floor, No. 1, Harrington Road, Chetpet, Chennai-600031, Tamilnadu, India |
|
2 |
G04916441 |
100030488 |
DBS Bank Ltd |
27/05/2016 |
- |
- |
200000000.0 |
Fortune House, Plot No. 363/2, Gokhale Road, Model Colony, Shivaji Nagar, Pune-411016, Maharashtra, India |
|
3 |
C47883384 |
10557341 |
HDFC BANK LIMITED |
10/03/2015 |
- |
- |
550000000.0 |
4th Floor, Millenium Towers, Bhandarkar Road, Pune-411004, Maharashtra, India |
|
4 |
C54184114 |
10177946 |
State Bank of India |
17/09/2009 |
21/05/2015 |
- |
700000000.0 |
Industrial Finance Branch, "Tara Chambers",2nd Floor, Mumbai - Pune Highway,PuneMH411003IN |
|
5 |
B18895474 |
10159428 |
UNION BANK OF INDIA LIMITED |
06/05/2009 |
09/08/2011 |
- |
20000000.0 |
Kasarwadi Branch, Kasarwadi, Pune-411034, Maharashtra, India |
|
6 |
C49278245 |
80037157 |
HDFC BANK LIMITED |
01/08/2005 |
20/03/2015 |
- |
400000000.0 |
4th Floor, Millenium Towers, Bhandarkar Road, Pune-411004, Maharashtra, India |
|
7 |
A66272667 |
90143173 |
UNION BANK OF INDIA |
18/12/2000 |
30/06/2009 |
- |
165000000.0 |
Kasarwadi Branch, Kasarwadi, Pune-411034, Maharashtra, India |
|
8 |
B34396820 |
90144755 |
UNION BANK OF INDIA |
21/10/2003 |
21/04/2010 |
28/02/2012 |
150000000.0 |
Kasarwadi Branch, Kasarwadi, Pune-411034, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
|
Claims against company not acknowledged as debt |
342.439 |
216.408 |
|
Other money for which company is contingently liable |
12.142 |
4.984 |
|
TOTAL |
354.581 |
221.392 |
FIXED ASSETS:
Tangible Assets:
- Land
- Building
- Leasehold improvements
- Plant and
Machinery
- Office Equipment
- Furniture and
Fixture
- Computer
- Vehicles
Intangible Asset:
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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 65.22 |
|
UK Pound |
1 |
INR 91.33 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
BHG |
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 |
NO |
|
--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 be considered as unfavorable.
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.