|
|
|
MIRA INFORM REPORT
|
Report No. : |
507525 |
|
Report Date : |
08.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUNDARAM AUTO COMPONENTS LIMITED |
|
|
|
|
Registered
Office : |
Jaya Lakshmi Estates, No. 29 (8), Haddows Road, Chennai – 600006,
Tamilnadu |
|
Tel. No.: |
91-44-28272233/ 27173524 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
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|
|
|
Date of
Incorporation : |
10.06.1992 |
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|
|
|
Com. Reg. No.: |
18-051417 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 115.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29249TN1992PLC051417 |
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|
|
|
IEC No.: [Import-Export Code No.] |
0404000177 |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
33AAACS7027G1ZM |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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TIN/CST No.: |
33690461335 |
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|
|
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PAN No.: [Permanent Account No.] |
AAACS7027G |
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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacture and sale of plastic components and trading in automobiles. (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)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 3720000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “TVS Motor Company Limited” incorporated during the year 1992. It is engaged in the manufacturing business of automobile plastic components and trading of automobiles.
Note: As
per Registrar of Companies date of balance sheet (i.e. financial filed) is
shown as 31.03.2017 but the documents related to the financial for the year
31.03.2017 are not available from any sources. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
17.04.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
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
31-03-2018.
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 08.05.2018
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 DECLINED
Management non-cooperative (Tel No.:91-44-28272233)
Tel No.:91-44-27173524 (Ringing)
LOCATIONS
|
Registered Office : |
Jaya Lakshmi Estates, No. 29 (8), Haddows Road, Chennai – 600006,
Tamilnadu, India |
|
Tel. No.: |
91-44-28272233/ 27173524 |
|
Fax No.: |
91-44-28257121 |
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E-Mail : |
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|
Website : |
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Plant 1 : |
Thally Road, Belagondapalli, hosur
– 635114, Tamilnadu, India |
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Plant 2 : |
Plot B-11, SIPCOT Industrial growth
Centre, Oragadam, Sriperumbathur Taluk, Kanchipuram District - 602105,
Tamilnadu, India |
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Plant 3 : |
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DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Harihara Iyer Lakshmanan |
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Designation : |
Director |
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|
Address : |
D-1, Palacio, New No. 408, Old No. 216, TTK Road, Alwarpet, Chennai –
600018, Tamilnadu, India |
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Date of Birth/Age : |
14.08.1933 |
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Date of Appointment : |
19.04.2015 |
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DIN No.: |
00057973 |
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Other
directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Chundi Narasimha Prasad |
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Designation : |
Director |
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|
Address : |
1 D, Jacaranda, 21-23 Tas Enclave, AK Block, Extension (Behind SMF),
Shanthi Colony, Anna Nagar, Chennai – 600040, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
01.07.1947 |
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Qualification : |
B.E, MSC (Cranfield)., M.B.A |
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Date of Appointment : |
17.08.2009 |
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DIN No.: |
01950656 |
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Other
directorship:
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Name : |
Mr. Seeplaputhur Ganapathiramaswamy Murali |
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Designation : |
Director |
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|
Address : |
Plot No. 8, “Shruthi” 515 Housing Colony, H. A. L. III Stage,
Bangalore – 560075, Karnataka, India |
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Date of Birth/Age : |
26.0.1950 |
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Qualification : |
B.Com., A.C.A. |
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Date of Appointment : |
08.09.2010 |
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DIN No.: |
00348902 |
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Other
directorship:
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|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Lakshmi Venu |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
West Side House, Old No.2, New No.3, Adyar Club Gate Road, Abhiramapuram, Chennai-600028, Tamilnadu, India |
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|
Date of Appointment : |
15.05.2015 |
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DIN No.: |
02702020 |
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Other
directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Subramaniam Santhanakrishnan |
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Designation : |
Director |
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|
Address : |
Flat G5, Block 2,Prime Terrace, 150,L.B Road, Tiruvanmiyur, Chennai-600041, Tamilnadu, India |
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|
Date of Appointment : |
19.02.2015 |
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DIN No.: |
00005069 |
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Other
directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Rangaswami Ramakrishnan |
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Designation : |
Director |
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Address : |
No.27 (Old No.14), Seethamma Road, Alwarpet, Chennai-600018,
Tamilnadu, India |
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|
Date of Appointment : |
30.09.2014 |
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DIN No.: |
00809342 |
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Other
directorship:
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KEY EXECUTIVES
|
Name : |
Ponneri Divakar Dev Kishan |
|
Designation : |
Company Secretary |
|
Address : |
No. 321, Lig II, T.N.H.B., Avadi, Chennai-600054, Tamilnadu, India |
|
Date of Appointment : |
07/03/2016 |
|
PAN No.: |
BDHPD5200L |
|
|
|
|
Name : |
Mr. Jami Viswanadham Jami Ashok ChakravarthI |
|
Designation : |
Chief Financial Officer |
|
Address : |
No.3/313-32, Ranga D Colony Brindavan Garden, Hosur Krishnagiri - 635109 Tamilnadu, India |
|
Date of Appointment : |
21.01.2017 |
|
PAN No.: |
Aebpj3103q |
|
|
|
|
Name : |
Mr. Rajesh Oommen |
|
Designation : |
Chief Executive Officer |
|
Address : |
502, Sindhu Amazon, Bellandur Village, Outer Ring Road, Varathur
Hobli, Survey No. 79/8, Bangalore-560037, Karnataka, India |
|
Date of Appointment : |
15.05.2015 |
|
PAN No.: |
AADPO5758Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
TVS Motor Company Limited, India |
|
14549994 |
|
C Mukundhan (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
V N Venkatanathan (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
K Gopala Desikan (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
H Lakshmanan (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
C Narsimhan (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
Sridhar Krishnaswamy (Nominee of TVS Motor Company Limited, India) |
|
1 |
|
|
|
|
|
Total |
|
14550000 |
Equity Share Break up (Percentage of Total Equity)
As on 31.07.2017
|
Category |
Percentage |
|
Promoters (Bodies Corporate) |
99.99995876 |
|
Promoters (Others– Nominees) |
0.00004124 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of plastic components and trading in automobiles. (Registered Activity) |
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Products : |
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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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|
||||||||
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Imports : |
Not Divulged |
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|
|
||||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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|
||||||||||||||||||||||
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No. of Employees : |
Information denied by the management |
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|
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Bankers : |
|
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|
||||||||||||||||||||||
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Facilities : |
|
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Auditors : |
|
|
Name : |
Sundaram and Srinivasan Chartered Accountants |
|
Address : |
New No 4, Old No.23, C P Ramaswamy Road, Alwarpet, Chennai – 600018, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFF8812J |
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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Holding company : |
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Ultimate holding
companies: |
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Subsidiary Company: |
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|
|
|
|
Fellow Subsidiaries
: |
|
|
|
|
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Associate Company : |
|
CAPITAL STRUCTURE
After 31.07.2017
Authorised Capital : INR 400.000 Million
Issued, Subscribed & Paid-up Capital : INR 359.250
Million
As on 31.07.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
INR 10/- each |
INR 400.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14550000 |
Equity Shares |
INR 10/- each |
INR 145.500 Million |
|
|
|
|
|
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
INR 10/- each |
INR 400.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11550000 |
Equity Shares |
INR 10/- each |
INR 115.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
115.500 |
115.500 |
115.500 |
|
(b) Reserves & Surplus |
1186.300 |
996.100 |
828.300 |
|
(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) |
1301.800 |
1111.600 |
943.800 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
90.000 |
170.000 |
|
(b) Deferred tax liabilities (Net) |
91.400 |
74.700 |
86.300 |
|
(c) Other long term
liabilities |
281.200 |
248.300 |
248.300 |
|
(d) long-term
provisions |
15.000 |
9.600 |
16.400 |
|
Total Non-current
Liabilities (3) |
387.600 |
422.600 |
521.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
154.300 |
25.200 |
183.000 |
|
(b) Trade
payables |
1782.800 |
1632.000 |
1009.300 |
|
(c) Other
current liabilities |
525.700 |
621.600 |
340.600 |
|
(d) Short-term
provisions |
0.300 |
35.400 |
43.200 |
|
Total Current Liabilities
(4) |
2463.100 |
2314.200 |
1576.100 |
|
|
|
|
|
|
TOTAL |
4152.500 |
3848.400 |
3040.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1220.400 |
986.500 |
1072.900 |
|
(ii)
Intangible Assets |
22.700 |
1.200 |
1.500 |
|
(iii)
Capital work-in-progress |
162.500 |
35.500 |
1.300 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
321.200 |
288.700 |
278.400 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.800 |
59.600 |
1.300 |
|
(e) Other
Non-current assets |
66.300 |
42.800 |
52.700 |
|
Total Non-Current
Assets |
1808.900 |
1414.300 |
1408.100 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1496.300 |
1408.500 |
654.300 |
|
(c) Trade
receivables |
609.700 |
791.800 |
898.900 |
|
(d) Cash
and cash equivalents |
5.200 |
27.900 |
6.600 |
|
(e)
Short-term loans and advances |
185.100 |
160.700 |
51.000 |
|
(f) Other
current assets |
47.300 |
45.200 |
22.000 |
|
Total
Current Assets |
2343.600 |
2434.100 |
1632.800 |
|
|
|
|
|
|
TOTAL |
4152.500 |
3848.400 |
3040.900 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
27347.400 |
21357.800 |
18753.000 |
|
|
|
Other Income |
25.500 |
15.800 |
17.700 |
|
|
|
TOTAL |
27372.900 |
21373.600 |
18770.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3225.100 |
2680.300 |
1848.000 |
|
|
|
Purchases of Stock-in-Trade |
22278.200 |
17270.500 |
15422.500 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(277.900) |
(414.600) |
124.500 |
|
|
|
Employees benefits expense |
514.900 |
411.300 |
327.900 |
|
|
|
Other expenses |
1067.200 |
889.900 |
(4.900) |
|
|
|
CSR Expenditure |
4.200 |
2.200 |
714.300 |
|
|
|
Exceptional Items |
(32.300) |
(8.600) |
0.000 |
|
|
|
TOTAL |
26779.400 |
20831.000 |
18432.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
593.500 |
542.600 |
338.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
37.300 |
52.100 |
59.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
556.200 |
490.500 |
278.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
133.800 |
117.300 |
100.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
422.400 |
373.200 |
177.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
136.000 |
120.000 |
71.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
286.400 |
253.200 |
106.700 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
386.000 |
216.000 |
154.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
10.700 |
|
|
|
First Interim Dividend Paid |
46.200 |
40.400 |
0.000 |
|
|
|
Second Interim Dividend Paid |
34.700 |
|
|
|
|
|
Dividend Tax on First Interim Dividend |
16.500 |
8.100 |
0.000 |
|
|
|
Proposed Final Dividend |
0.000 |
28.900 |
28.900 |
|
|
|
Dividend tax payable |
0.000 |
5.800 |
5.100 |
|
|
|
Surcharge on Dividend Distribution tax |
0.100 |
0.000 |
0.000 |
|
|
|
Total
|
97.500 |
83.200 |
44.700 |
|
|
BALANCE CARRIED
TO THE B/S |
574.900 |
386.000 |
216.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB Basis] |
0.000 |
0.000 |
2.700 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
2.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
523.100 |
422.600 |
315.100 |
|
|
|
Stores & Spares |
1.800 |
2.100 |
0.100 |
|
|
|
Capital Goods |
98.600 |
127.100 |
15.400 |
|
|
TOTAL IMPORTS |
623.500 |
551.800 |
330.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
24.80 |
21.92 |
9.24 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
90.000 |
80.000 |
80.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
685.500 |
653.500 |
214.500 |
|
Net cash flows from (used in) operating activities |
560.200 |
509.300 |
149.300 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
8.14 |
13.53 |
17.50 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
44.85 |
26.97 |
20.86 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
25.52 |
29.86 |
21.33 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.40 |
0.39 |
0.52 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.42 |
0.53 |
0.31 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.61 |
0.65 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.19 |
0.18 |
0.46 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.89 |
2.08 |
1.67 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.08 |
0.92 |
1.14 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
15.91 |
10.41 |
5.66 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.05 |
1.19 |
0.57 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
6.90 |
6.58 |
3.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
22.00 |
22.78 |
11.31 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.95 |
1.05 |
1.04 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.34 |
0.44 |
0.62 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.31 |
0.29 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.12 |
1.69 |
3.75 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.95 |
1.05 |
1.04 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in 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 |
115.500 |
115.500 |
115.500 |
|
Reserves & Surplus |
828.300 |
996.100 |
1186.300 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
943.800 |
1111.600 |
1301.800 |
|
|
|
|
|
|
long-term borrowings |
170.000 |
90.000 |
0.000 |
|
Short term borrowings |
183.000 |
25.200 |
154.300 |
|
Current maturities of
long-term debts |
80.000 |
80.000 |
90.000 |
|
Total
borrowings |
433.000 |
195.200 |
244.300 |
|
Debt/Equity
ratio |
0.459 |
0.176 |
0.188 |
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 |
18753.000 |
21357.800 |
27347.400 |
|
|
|
13.890 |
28.044 |
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 |
18753.000 |
21357.800 |
27347.400 |
|
Profit/(Loss) |
106.700 |
253.200 |
286.400 |
|
|
0.57% |
1.19% |
1.05% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
8.700 |
7.300 |
|
|
|
|
|
Total |
8.700 |
7.300 |
FINANCIAL HIGHLIGHTS
The Company earned a profit before tax (PBT) (before exceptional items) of INR 390.100 million as against INR 364.600 million in the previous year, registering a growth of 7%. Total revenue for the year stood at INR 27372.900 million as against INR 21373.600 million in the previous year.
BUSINESS OUTLOOK
GDP is expected to be around 7.5% and the inflation is expected at 6% levels.
The two wheeler segment is expected to grow only by 2% to 4% in 2016-17 as the rural market is expected to pick up during second half of 2016-17. The growth in this segment will continue to be driven by demand coming from newly launched scooters and high-end motorcycles.
Rise in disposable income, stable cost of ownership and implementation of pay commission recommendation are expected to drive passenger vehicles sales in 2016-17 and the industry is expected to grow around 6% - 8% during 2016-17.
MHCV’s replacement demand is expected to remain steady in 2016-17, while an improvement in macro-economic parameters leading to higher freight availability will support a gradual increase in new truck sales. The industry prospects hinges on faster execution of infrastructure projects, pick up in mining segment, improvement in transporter profitability with the reduction in fuel prices and lower interest rates. MHCV segment is expected to register a growth of 12% - 15% during 2016-17.
With the overall growth in the automotive industry and with the new products planned by the Company for its customers, the Company’s overall sales during 2016-17 is expected to grow by 5%.
AWARDS
The Company was awarded for their outstanding effort and commitment towards achieving delivery target by Toyoda Gosei South India Private Limited in recognition of its outstanding delivery support given to the customer during the year.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C61740684 |
80009844 |
STATE BANK OF INDIA |
24/03/2006 |
25/07/2015 |
- |
948600000.0 |
INDUSTRIAL FINANCE BRANCH, NO.155, ANNA SALAI, CHENNAI, Tamil Nadu -
600002, INDIA |
|
2 |
B36731842 |
80024963 |
STATE BANK OF INDIA |
28/07/2004 |
15/03/2012 |
- |
335000000.0 |
INDUSTRIAL FINANCE BRANCH, NO.155, ANNA SALAI, CHENNAI, Tamil Nadu -
600002, INDIA |
|
3 |
B73673295 |
10076745 |
THE BANK OF NOVA SCOTIA |
28/11/2007 |
- |
15/04/2013 |
250000000.0 |
COIMBATORE-641018, TAMILNADU, INDIA |
|
4 |
Y10412350 |
90289423 |
STATE BANK OF INDIA |
24/06/2005 |
29/07/2005 |
06/02/2006 |
210000000.0 |
INDUSTRIAL FINANCE BRANCH, NO.155, ANNA SALAI, CHENNAI, Tamil Nadu -
600002, INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
|
|
|
|
(a) On counter guarantee furnished to banks |
0.200 |
0.200 |
|
(b) On letters of credit |
77.800 |
210.900 |
|
(c) On bills of exchange drawn on customers discounted |
178.900 |
20.000 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Computer Software
· Licenses and Franchise
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.66 |
|
|
1 |
INR 90.66 |
|
Euro |
1 |
INR 80.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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.