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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

508587

Report Date :

19.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

LUCAS TVS LIMITED

 

 

Registered Office :

6, (New No. 11, 13),  Patullo Road, Chennai – 600002, Tamilnadu

Tel. No.:

91-44-28460063

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

20.12.1961

 

 

Com. Reg. No.:

18-004678

 

 

Capital Investment / Paid-up Capital :

INR 118.800 Million

 

 

CIN No.:

[Company Identification No.]

U35999TN1961PLC004678

 

 

IEC No.:

[Import-Export Code No.]

0488019028

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACL3763E

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of automobile electrical equipments with special focus on four wheelers like PVs, HCVs, LCVs, SCVs and three wheelers, two wheelers and off-road applications. (Registered activity)

 

 

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 21000000

 

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exists 

 

 

Comments :

Subject was incorporated in the year 1961. It is a manufacturer of Auto Electrical products.

 

The subject's customer includes, Maruti Suzuki, Mahindra, Tata, Hyundai etc.

 

For the financial year 2017, the revenue of the company has increased by 8.01% along with average profit margin of 2.33%.

 

The healthy financial profile of the company is marked by strong networth base along with negligible debt level.

 

The company has favourable Earning per Share (EPS) of INR 400.78 against a face value (FV) of INR 100.

 

The rating takes into consideration the subject’s long established track record of the business operations along with extensive experience of its promoters.

 

However, these rating strengths are partially offset by exposure to risks related to cyclicality in auto demand, susceptibility to pricing pressure on account of large exposure to automobile original equipment manufacturers (OEMs) and volatility in input prices.

 

Business is active. Payment seems to be regular.

 

In view of aforesaid, the company can be considered for good business dealings at usual trade terms and conditions.

 

Note: The correct name of the company is “Lucas TVS Limited”.

 

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

CRISIL

Rating

Long term : AA+

Rating Explanation

High degree of safety and very low credit risk.

Date

21.12.2017

 

Rating Agency Name

CRISIL

Rating

Short term : A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

21.12.2017

 

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 31-03-2018.

 

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 19.05.2018

 

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 DENIED

 

MANAGEMENT NON-COOPERATIVE (91-44- 28460063)

 

91-9677758282 – RINGING

 

 

LOCATIONS

 

Registered Office / Corporate Office:

6, (New No. 11, 13), Patullo Road, Chennai – 600002, Tamilnadu, India

Tel. No.:

91-44-28460063/28460073

Fax No.:

91-44-26257215/26257863/26258227

E-Mail :

ramaswamy.k@lucastvs.co.in

OE : oe@lucastvs.co.in

SERVICE : mkg_mr@lucastvs.co.in

EXPORT : balan.tv@lucastvs.co.in

Website :

www.lucas-tvs.com

 

 

Factory 1 :

REWARI PLANT

Masani Village, Rewari - 122 106, Haryana, India

Tel. No.:

91-1274-240754

Fax No.:

91-1274-240753

E-Mail :

Lucas.Rewari@satyam.net.in

 

 

Factory 2 :

CHAKAN PLANT

B-1/1, MIDC Industrial Area, Village Nicoghe, Khed Taluk, Chakan, Pune - 410 501, Maharashtra, India

Tel. No.:

91-2135 327707

Fax No.:

91-2135 259149

E-Mail :

sidhar.s@lucastvs.co.in

 

 

Factory 3 :

PUDUCHERRY PLANT

Eripakkam Village, Nettapakkam Commune, Puducherry - 605 106, India

Tel. No.:

91-413-2699131

Fax No.:

91-413-2699002

E-Mail :

mktg.pondy@lucastvs.co.in

 

 

Factory 4 :

UTTARKHAND PLANT

Sector 11, Plot No. 55, TML Vendor Park,  Sidcul Industrial Area, Pant Nagar, Udhamsingh Nagar – 263153, Uttaranchal, India

Tel. No.:

91-5944 250244

Fax No.:

91-5944 250243

E-Mail :

ut_office@lucastvs.co.in

 

 

Factory 5 :

PUDUCHERRY PLANT

10, Kothapurinatham Road, Thiruvandar Koil, Mannadipet Commune, Puducherry - 605 102, India

Tel. No.:

91-413-2641095

Fax No.:

91-413-2641096

E-Mail :

krkuma.pondyr@lucastvs.co.in

 

 

Factory 6 :

INDRAD AUTO COMPONENTS, MARAIMALAI NAGAR PLANT

A1 - F5, Industrial Estate, Maraimalai Nagar, District. Kancheepuram, Tamilnadu, India

Tel. No.:

914427451853/27453365

E-Mail :

mktg@indradauto.com

 

 

Sales Offices:

Padi, Chennai - 600 050, Tamilnadu, India

Tel. No.:

91-44-2625 8211, 2625 4376 (Marketing)

Fax No.:

91-44-2624 7441, 2625 7322 (Marketing)

E-Mail :

bhawani@lucastvs.co.in

gnbala@lucastvs.co.in

balan.tv@lucastvs.co.in

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Arvind Balaji

Designation :

Managing Director

Address :

34, Poes Garden, Chennai Chennai – 600086, Taminadu, India

Date of Birth/Age :

08.12.1974

Qualification :

BE(MECH)/MS/MBA

Date of Appointment :

18.04.2008

PAN No.:

AALPA3558Q

DIN No.:

00557711

Other directorship:

CIN/FCRN

Company Name

Begin Date

End Date

L31901TN1984PLC011021

INDIA NIPPON ELECTRICALS LIMITED

27/08/2014

-

U93090TN1983NPL010186

HASTHAM SWASTHI PRIVATE LIMITED

15/02/2006

-

U30007TN1997PTC038151

HARITA ELECTRONICS PRIVATE LIMITED

29/09/2016

-

U93090TN1983NPL010185

PUNARVASU SWASTHI PRIVATE LIMITED

15/02/2006

-

U85320TN1999NPL041989

YOUNG PRESIDENTS ORGANISATION (CHENNAI CHAPTER)

02/12/2013

-

U50101TN2005PLC057476

TVS AUTOMOTIVE SYSTEMS LIMITED

14/09/2005

-

U01400TN2009PTC070420

HARITA GREENS PRIVATE LIMITED

09/01/2009

-

U40104TN2009PTC070419

HARITA ARVIND ENERGY PRIVATE LIMITED

09/01/2009

-

U50404TN2009PLC071075

TVS MOTOR SERVICES LIMITED

30/07/2010

-

U35999TN1930PLC005705

LUCAS INDIAN SERVICE LIMITED

22/09/2010

-

U74990TN2010PLC075028

TVS TRAINING AND SERVICES LIMITED

21/08/2014

-

U24117TN1952PLC005704

DELPHI-TVS DIESEL SYSTEMS LIMITED

16/06/2009

-

 

 

Name :

Mr. Tirumala Kumara Balaji

Designation :

Managing Director

Address :

New No.75 (Old No.34), Poes Garden, Chennai – 600 086, Tamilnadu, India

Date of Birth/Age :

12.07.1948

Qualification :

BE(MECH)MBA

Date of Appointment :

24.08.1979

PAN No.:

AAFPB7797J

DIN No.:

00002010

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U35999TN1930PLC005705

LUCAS INDIAN SERVICE LIMITED

15/10/1979

-

U93090TN1983NPL010185

PUNARVASU SWASTHI PRIVATE LIMITED

16/03/2000

-

U93090TN1983NPL010186

HASTHAM SWASTHI PRIVATE LIMITED

16/03/2000

-

L31901TN1984PLC011021

INDIA NIPPON ELECTRICALS LIMITED

28/07/1986

-

U24117TN1952PLC005704

DELPHI-TVS DIESEL SYSTEMS LIMITED

01/04/2007

-

L35999TN1962PLC004792

SUNDARAM -CLAYTON LIMITED

28/11/1984

-

U40109TN1996PTC037208

INDIA JAPAN LIGHTING PRIVATE LIMITED

27/12/1996

-

U30007TN1997PTC038151

HARITA ELECTRONICS PRIVATE LIMITED

09/05/1997

-

U65993TN2004PTC054696

TVS INVESTMENTS PRIVATE LIMITED

25/09/2013

-

U50101TN2005PLC057476

TVS AUTOMOTIVE SYSTEMS LIMITED

14/09/2005

-

U34101TN1929PTC002973

T.V. SUNDRAM IYENGAR & SONS PRIVATE LIMITED

31/08/1979

-

L74999TZ1984PLC001456

TITAN COMPANY LIMITED

01/03/1986

-

U65920TN2008PLC069758

TVS CREDIT SERVICES LIMITED

23/06/2010

-

U74999TN2018PTC122019

PADEE INDUSTRIAL VENTURES PRIVATE LIMITED

10/04/2018

-

 

 

Name :

Mr. Ranganathan Vijayaraghavan

Designation :

Director

Address :

New No.40, Old No.33, Warren Road, Mylapore Chennai – 600004, Tamilnadu, India

Date of Birth/Age :

02.01.1950

Date of Appointment :

28.09.2012

DIN No.:

00026763

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U02421TZ1910PLC000221

T STANES AND COMPANY LIMITED

10/08/2012

-

L31901TN1984PLC011021

INDIA NIPPON ELECTRICALS LIMITED

26/08/2013

-

L60220TN1979PLC007970

SANCO TRANS LIMITED

23/07/2010

-

U35999TN1930PLC005705

LUCAS INDIAN SERVICE LIMITED

24/03/2015

-

U24117TN1952PLC005704

DELPHI-TVS DIESEL SYSTEMS LIMITED

25/03/2015

-

L29130TN1961PLC004466

BIMETAL BEARINGS LIMITED

23/07/2010

-

L35999TN1962PLC004792

SUNDARAM -CLAYTON LIMITED

29/11/2012

-

L15421TN1954PLC002915

THIRU AROORAN SUGARS LIMITED

14/11/2013

-

 

 

Name :

Mr. Venu Srinivasan

Designation :

Director

Address :

Westside House, New No.3 (Old No.2), Adyar Club Gate Road, Chennai – 600 028, Tamilnadu, India

Date of Birth/Age :

11.12.1952

Date of Appointment :

16.04.1991

DIN No.:

00051523

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U74999TN2017PTC115422

VS TRUSTEE PRIVATE LIMITED

10/03/2017

-

U74999TN2017PTC115421

S. VENU TRUSTEE PRIVATE LIMITED

10/03/2017

-

U74999TN2017PTC115420

LV TRUSTEE PRIVATE LIMITED

10/03/2017

-

U65999TN2017PTC118512

TVS HOUSING FINANCE PRIVATE LIMITED

29/03/2018

-

U65920TN2008PLC069758

TVS CREDIT SERVICES LIMITED

23/06/2010

-

U34101TN1929PTC002973

T.V. SUNDRAM IYENGAR & SONS PRIVATE LIMITED

29/06/1979

-

U99999MH1917PLC000478

TATA SONS LIMITED

25/08/2016

-

U65993TN2004PTC054696

TVS INVESTMENTS PRIVATE LIMITED

25/09/2013

-

U24293TN1999PLC042327

HARITA-NTI LIMITED

22/04/1999

-

L29112PN1962PLC012276

CUMMINS INDIA LIMITED

27/01/2000

-

L35921TN1992PLC022845

TVS MOTOR COMPANY LIMITED

27/01/2000

-

U65993TN1981PTC008722

HARITA VENU PRIVATE LIMITED

26/09/2017

-

L35999TN1962PLC004792

SUNDARAM -CLAYTON LIMITED

23/05/1979

-

U60221TN1946PLC002582

SOUTHERN ROADWAYS LIMITED

30/06/1979

-

 

 

Name :

Mr. Mahalingam Seturaman

Designation :

Director

Address :

6, Subbaraya Iyer Avenue, Abhiramapuram,, Chennai - 600018, Tamilnadu, India

Date of Appointment :

22.09.2014

DIN No.:

00121727

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

L35999TN1962PLC004943

SUNDRAM FASTENERS LIMITED

30/01/2018

-

U63011TN2004PLC054655

TVS LOGISTICS SERVICES LIMITED

29/06/2015

-

L65110TN1904PLC001287

CITY UNION BANK LIMITED

30/08/2013

-

L65191TN1954PLC002429

SUNDARAM FINANCE LIMITED

23/07/2014

-

U91120TN2005NPL057561

NANI PALKHIVALA ARBITRATION CENTRE

21/09/2005

-

U70102MH2007PLC168300

TATA REALTY AND INFRASTRUCTURE LIMITED.

01/09/2008

-

U22110TN1940PLC001091

KASTURI & SONS LIMITED

20/08/2014

-

U72200KL2000NPL014187

INDIAN INSTITUTE OF INFORMATION TECHNOLOGY AND MANAGEMENT KERALA (SEC 25COMPANY)

16/09/2014

-

U22120MH2011NPL218720

CSI PUBLICATIONS

16/06/2011

-

L27102MH1994PLC152925

JSW STEEL LIMITED

29/06/2017

-

U73100TN2006NPL059651

IIT MADRAS RESEARCH PARK

31/08/2013

-

L72200TG1975PLC001970

CMC LIMITED

29/06/2010

-

U22300TN2017PTC115593

THG PUBLISHING PRIVATE LIMITED

26/09/2017

-

 

 

Name :

Mr. Gopal Srinivasan

Designation :

Director

Address :

No.14, Boat Club Road, Chennai – 600 028, Tamilnadu, India.

Date of Birth/Age :

04.08.1958

Date of Appointment :

28.03.1996

DIN No.:

00177699

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U91990TN2018NPL121261

CHENNAIANGELS NETWORK ASSOCIATION

09/03/2018

-

U74999TN2016NPL103865

CHENNAI INTERNATIONAL CENTRE

28/01/2016

-

U72200DL2015PTC280308

COINTRIBE TECHNOLOGIES PRIVATE LIMITED

30/09/2017

-

L55101KA2002PLC031224

WONDERLA HOLIDAYS LIMITED

09/08/2017

-

U65991TN2007PLC064133

TVS CAPITAL FUNDS LIMITED

06/06/2008

-

U65991TN1943PTC002656

SUNDARAM INDUSTRIES PRIVATE LIMITED

31/08/1979

-

U73100TN2006NPL059651

IIT MADRAS RESEARCH PARK

09/09/2017

-

L35999TN1962PLC004792

SUNDARAM -CLAYTON LIMITED

18/08/2008

-

U74900TN2011PLC083371

SUNDARAM ENGINEERING PRODUCTS SERVICES LIMITED

01/12/2011

-

U63011TN2004PLC054655

TVS LOGISTICS SERVICES LIMITED

05/08/2005

-

U65993TN2004PTC054696

TVS INVESTMENTS PRIVATE LIMITED

01/01/2014

-

U74900DL2010NPL198236

IVC ASSOCIATION

30/09/2015

-

U34101TN1929PTC002973

T.V. SUNDRAM IYENGAR & SONS PRIVATE LIMITED

31/08/1979

-

U93000KA2008PTC046355

NEXTWEALTH ENTREPRENEURS PRIVATE LIMITED

16/12/2016

-

U65191TN1994PTC028851

TVS CAPITAL FUNDS PRIVATE LIMITED

26/04/2010

-

L30007TN1995PLC032941

TVS ELECTRONICS LIMITED

23/10/2008

-

U72500TN2007PLC063540

TVS-E SERVICETEC LIMITED

17/05/2007

-

L74999DL2007PLC277039

INDIAN ENERGY EXCHANGE LIMITED

25/07/2017

-

U30006TN1996PLC035418

HARITA TECHSERV LIMITED

05/12/2001

-

U65100TN2004PTC052667

TVS WEALTH PRIVATE LIMITED

05/08/2009

-

 

 

Name :

Mr. Kalathur Seshadri

Designation :

Director

Address :

03.10.1933

Date of Birth/Age :

No.23, Masilamani Road, Balaji Nagar, Royapettah, Chennai – 600014, Taminadu, India

Date of Appointment :

20.07.2009

DIN No.:

00301839

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U35999TN1930PLC005705

LUCAS INDIAN SERVICE LIMITED

23/09/2002

-

 

 

Name :

Ms. Priyamvada Balaji

Designation :

Director

Address :

34 Poes Garden, Chennai - 600086, Tamilnadu, India

Date of Appointment :

11.09.2015

DIN No.:

00730712

Other directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U45201TN1950PTC000038

ADYAR PROPERTY HOLDING COMPANY PRIVATE LIMITED

25/03/2018

-

U24117TN1952PLC005704

DELPHI-TVS DIESEL SYSTEMS LIMITED

27/02/2018

-

U35999TN1930PLC005705

LUCAS INDIAN SERVICE LIMITED

20/02/2013

-

U93090TN1983NPL010185

PUNARVASU SWASTHI PRIVATE LIMITED

21/12/2017

-

U93090TN1983NPL010186

HASTHAM SWASTHI PRIVATE LIMITED

21/12/2017

-

L31901TN1984PLC011021

INDIA NIPPON ELECTRICALS LIMITED

29/01/2018

-

U30007TN1997PTC038151

HARITA ELECTRONICS PRIVATE LIMITED

29/09/2016

-

U74990TN2010PLC075028

TVS TRAINING AND SERVICES LIMITED

06/08/2015

-

U74120TN2013NPL092026

TAMIL NADU SKILL DEVELOPMENT CORPORATION

23/05/2016

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Anbil Rengaswamy Rajagopalan

Designation :

Chief Finance Officer 

Address :

R C Sreeniketan Block 6 Type D, No 9 Theatre St, Shanthi Nagar Extention, Kolathur, Chennai - 600099, Tamilnadu, India

Date of Appointment :

28.03.2015

PAN No.:

AACPR5564L

 

 

Name :

Mr. K Ramaswamy

Designation :

Secretary

Address :

D-6, Maitee Apartments 96, 6th Main Malleswaram, Bangalore – 560004, Karnataka, India

Date of Birth/Age :

26.08.1964

Date of Appointment :

30.03.2013

PAN No.:

AASPR6336A

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

 

No. of Shares

T V Sundram Iyengar and Sons Limited, India

 

267984

Sundaram Industries Limited, India

 

270425

Southern Roadways Limited, India

 

91367

Sundaram Finance Limited, India

 

63224

Hastham Swasthi Private Limited, India

 

116325

Punarvasu Swasthi Private Limited, India

 

116325

India Nippon Electricals Limited, India

 

97351

Life Insurance Corporation of India

 

82501

General Insurance Corporation of India

 

41249

United Insurance Company Limited, India

 

41249

Total

 

1188000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 06.09.2017

 

Category

Percentage

Promoters- Body corporate

58.33

Public/Other than promoters- Banks

13.89

Public/Other than promoters - Body corporate

27.78

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of automobile electrical equipments with special focus on four wheelers like PVs, HCVs, LCVs, SCVs and three wheelers, two wheelers and off-road applications. (Registered activity)

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

Information denied by the management

 

 

Bankers :

Banker Name :

Hongkong and Shanghai Banking Corporation

Branch :

30, Rajaji Saiai, Madras - 600001, Tamilnadu, India

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2017

As on

31.03.2016

SHORT TERM BORROWING

 

 

Working capital loans from banks

1343.749

1151.864

Total

1343.749

1151.864

 

 

Auditors :

 

Name :

Brahmayya and Company

Chartered Accountants

Address :

No-48, Masilamani Road, Balaji Nagar, Royapettah, Chennai -600 014, Tamilnadu, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFB2481J

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Related Party:
  • Lucas Indian Services Limited
  • Sundaram Industries Private Limited
  • Delphi-TVS Diesel Systems Limited
  • India Japan Lighting Private Limited
  • Lucas Indian Services Limited
  • Madras Auto Services
  • Sundaram Motors
  • TV Sundram Iyengar and Sons (Private) Limited
  • TVS Motor Company Limited
  • Lucas Indian Services Limited
  • Madras Auto Services
  • Sundaram Motors
  • TV Sundram Iyengar and Sons (Private) Limited
  • TVS Logistics Services Limited
  • TVS Training and Services Limited
  • Sundaram Industries Private Limited
  • Synergy Shakthi Renewable Energy
  • Sundaram Non-Conventional Energy Systems
  • Mrs. Sheela Balaji
  • Delphi-TVS Diesel Systems Limited
  • India Japan Lighting Private Limited
  • India Nippon Electricals Limited
  • TVS Training and Services Limited
  • Lucas Indian Services Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

INR 100/- each

INR 500.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1188000

Equity Shares

INR 100/- each

INR 118.800 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

118.800

118.800

118.800

(b) Reserves & Surplus

7398.316

7081.558

6605.635

(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)

7517.116

7200.358

6724.435

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

332.342

(c) Other long term liabilities

5.302

4.802

3.427

(d) long-term provisions

51.829

54.864

53.478

Total Non-current Liabilities (3)

57.131

59.666

389.247

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1883.360

1915.374

2186.124

(b) Trade payables

1660.668

1522.243

1007.791

(c) Other current liabilities

314.523

285.085

427.548

(d) Short-term provisions

68.204

49.342

134.698

Total Current Liabilities (4)

3926.755

3772.044

3756.161

 

 

 

 

TOTAL

11501.002

11032.068

10869.843

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2891.567

2978.716

3146.185

(ii) Intangible Assets

86.853

86.179

81.049

(iii) Capital work-in-progress

86.900

78.862

147.832

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1423.625

1338.100

1085.080

(c) Deferred tax assets (net)

95.304

5.329

0.000

(d)  Long-term Loan and Advances

665.886

557.414

882.740

(e) Other Non-current assets

132.546

140.244

0.000

Total Non-Current Assets

5382.681

5184.844

5342.886

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

3.850

0.000

0.000

(b) Inventories

2342.883

2306.943

2212.383

(c) Trade receivables

2954.110

2854.868

2600.278

(d) Cash and cash equivalents

35.604

23.461

17.927

(e) Short-term loans and advances

0.000

0.000

579.326

(f) Other current assets

781.874

661.952

117.043

Total Current Assets

6118.321

5847.224

5526.957

 

 

 

 

TOTAL

11501.002

11032.068

10869.843

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

20466.760

18949.177

16554.095

 

Other Income

192.848

136.540

202.084

 

TOTAL

20659.608

19085.717

16756.179

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

12968.378

11776.020

11545.683

 

Purchases of Stock-in-Trade

264.202

286.285

357.813

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(3.012)

(18.819)

83.045

 

Employees benefits expense

2377.728

2305.249

2127.341

 

Expenditure on production, transportation and other expenditure pertaining to exploration and production activities

852.134

804.909

0.000

 

CSR expenditure

0.000

0.000

9.455

 

Other expenses

3104.313

2900.296

1572.325

 

TOTAL

19563.743

18053.940

15695.662

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1095.865

1031.777

1060.517

 

 

 

 

 

Less

FINANCIAL EXPENSES

108.739

139.271

266.434

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

987.126

892.506

794.083

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

504.690

494.795

448.688

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

482.436

397.711

345.395

 

 

 

 

 

Less

TAX

6.307

(35.489)

(12.638)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

476.129

433.200

358.033

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

400.78

364.65

301.38

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

NA

NA

0.000

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

 

 

Net cash flows from (used in) operations

830.093

1197.896

1196.634

 

 

 

 

Net cash flows from (used in) operating activities

748.586

1122.229

1145.518

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

52.68

54.99

57.33

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

6.93

6.64

6.37

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

45.81

46.06

30.90

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.47

0.45

0.48

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.36

0.33

0.31

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.34

0.34

0.35

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.25

0.27

0.33

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.52

0.52

0.56

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.41

0.44

0.50

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

10.08

7.41

3.98

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

2.33

2.29

2.16

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

4.14

3.93

3.29

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

6.33

6.02

5.32

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.56

1.55

1.47

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.96

0.94

0.88

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.65

0.65

0.62

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

15.85

16.12

18.40

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.56

1.55

1.47

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

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

118.800

118.800

118.800

Reserves & Surplus

6605.635

7081.558

7398.316

Share Application money pending allotment

0.000

0.000

0.000

Net worth

6724.435

7200.358

7517.116

 

 

 

 

Long Term borrowings

0.000

0.000

0.000

Short Term borrowings

2186.124

1915.374

1883.360

Total borrowings

2186.124

1915.374

1883.360

Debt/Equity ratio

0.325

0.266

0.251

 

 

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

16554.095

18949.177

20466.760

 

 

14.468

8.009

 

 

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

16554.095

18949.177

20466.760

Profit

358.033

433.200

476.129

 

2.16%

2.29%

2.33%

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

118.800

118.800

(b) Reserves & Surplus

 

9594.376

9225.506

(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)

 

9713.176

9344.306

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

5.302

4.802

(d) long-term provisions

 

172.010

175.044

Total Non-current Liabilities (3)

 

177.312

179.846

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

1937.254

1915.374

(b) Trade payables

 

2019.127

1845.878

(c) Other current liabilities

 

521.157

483.230

(d) Short-term provisions

 

97.678

75.388

Total Current Liabilities (4)

 

4575.216

4319.870

 

 

 

 

TOTAL

 

14465.704

13844.022

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

3338.352

3395.911

(ii) Intangible Assets

 

86.850

86.179

(iii) Capital work-in-progress

 

138.946

129.589

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

2654.499

2636.600

(c) Deferred tax assets (net)

 

106.747

17.372

(d)  Long-term Loan and Advances

 

665.811

557.339

(e) Other Non-current assets

 

157.138

165.284

Total Non-Current Assets

 

7148.343

6988.274

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

6.667

2.556

(b) Inventories

 

3185.661

3052.655

(c) Trade receivables

 

3258.923

3051.106

(d) Cash and cash equivalents

 

42.200

48.383

(e) Short-term loans and advances

 

0.000

0.000

(f) Other current assets

 

823.910

701.048

Total Current Assets

 

7317.361

6855.748

 

 

 

 

TOTAL

 

14465.704

13844.022

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

23620.734

21490.367

 

Other Income

 

212.515

138.931

 

TOTAL

 

23833.249

21629.298

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

13862.840

12530.074

 

Purchases of Stock-in-Trade

 

2793.081

2362.612

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

(131.459)

(115.835)

 

Employees benefits expense

 

2620.558

2535.885

 

Other expenses

 

3419.159

3182.241

 

TOTAL

 

22564.179

20494.977

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

1269.070

1134.321

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

120.958

148.204

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

1148.112

986.117

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

525.107

513.869

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

623.005

472.248

 

 

 

 

 

Less

TAX

 

74.530

19.101

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

548.475

453.147

 

 

 

 

 

 

Share of profit (loss) of associates and joint ventures accounted for using equity method

 

8.849

22.737

 

 

 

 

 

 

TOTAL PROFIT (LOSS) FOR PERIOD

 

557.324

475.884

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

461.68

381.44

 

 

LEGAL CASE

 

CHIEF JUDGE, COURT OF SMALL CAUSES

Case Details

 

Case Type: S.C. - Small Cause Suit

Filing Number: 902/2017Filing Date: 06-06-2017

Registration Number: 902/2017Registration Date: 06-06-2017

CNR Number: KABC02-005262-2017

 

Case Status

First Hearing Date: 13th June 2017

Next Hearing Date: 14th July 2017


Stage of Case: SUMMONS

Court Number and Judge: 705-SCCH - 25 - XXIII ADDL. SCJ AND XXI ACMM

 

Petitioner and Advocate

 

1) TNT INDIA PRIVATE LIMITED,


Address - R/AT HAVING ITS REGISTERED OFFICE AT RAHEJA PARAMOUNT, 5TH FLOOR, NO. 138,

RESIDENCY ROAD, OPPOSITE BENGALURU CLUB BENGALURU REPRESENTED BY ITS AUTHORIZED

SIGNATORY NAGENDRANATH S

    Advocate- RAWLEY MUDDAPPA.I.P

 

Respondent and Advocate

 

1) LUCAS TVS LIMITED


 Address - R/AT HAVING THEIR REGARDING OFFICE AT MTH ROAD, PADI CHENNAI REPRESENTED BY

TS AUTHORIZED SIGNATORY MAHESHWARAN

 

Acts

Under Act(s)

Under Section(s)

U/O VII RULE 1 R/W SEC.26 OF CPC

UO7RULE1CPC

History of Case Hearing

 

 

Registration Number

Judge

Business On Date

Hearing Date

Purpose of hearing

902/2017

SCCH - 25 - XXIII ADDL. SCJ AND XXI ACMM

13-06-2017

14-07-2017

SUMMONS

 

 

 

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

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

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

COMPANY OVERVIEW

 

Subject is a public limited company incorporated and domiciled in India and has its registered office at No.11 & 13, Patullo Road, Chennai-600 002, Tamil Nadu, India.

 

The Company is a leading manufacturer of automobile electrical equipments with special focus on four wheelers like PVs, HCVs, LCVs, SCVs and three wheelers, two wheelers and off-road applications. In addition to the support from the technical collaborators, the Company has a well equipped Research & Development centre. The Company has eight manufacturing facilities in India with significant share of market in India and is exporting its products in large volumes. The financial statements were approved by the Board of Directors on 26th July 2017.

 

COMPANY REVIEW AND PERFORMANCE

 

The Company registered a turnover of INR 18553.200 Million during the year, registering a better growth compared to the previous year. The company has taken many key initiatives during this financial year to position itself better for the coming years.

 

OE Business

 

Lucas-TVS continue to be successful in establishing its own technology products in several major OEMs. Recent major wins include new generation gear reduction starters for a leading small utility vehicle manufacturer and supply of Lucas-TVS designed alternator for a global small car platform. Lucas-TVS is well placed to emerge as the single largest starter supplier in the car segment and crossed 2 million marks on starter production. Lucas - TVS has adapted itself for the BS-IV migration, and ramped-up the supplies of new range of GRS for LCV segment and higher output alternators. Lucas-TVS is further expanding its leadership in the commercial vehicle segment and have started to replace a major competitor at one of the large commercial vehicle customers. Considering the rapid growth at UV segment, company has developed high efficiency alternator for Utility Vehicles and won business from a major utility vehicle manufacturer.

 

Lucas-TVS is focusing on Tractor, Engine and off highway segment. A new range of gear reduction starters and high efficiency alternators have been developed to gain the market share. On profitability part, Lucas- TVS has taken considerable measures to get price correction, cost reduction and introduction of more efficient new range of products to improve the profitability in the forthcoming years.

 

Two Wheeler Business

 

The company is the market leader in two Wheeler Starter Motors and continues to enjoy a strong momentum in the two wheeler industry with significant market share at major two wheeler players. There is a positive outlook for the current FY 2018 and they expect the sales growth to be about 18% over last year. During past year the company has won the business from leading two wheeler manufacturer by introducing a compact light weight starter. They are also confident of getting new wins for their upcoming high volume models. The Company has also won significant business from premium motor cycle manufacturer for their high end Motorcycle applications.

 

Export Business

 

The company continues to focus on exports for future profitable growth. To augment the Export OE base, the company has hired a group of consultants who have wide contact with OEMs outside India. The Export business during the year 2016-17 grew 20% over the previous year. During the year they also won business for a new product category for commercial vehicle ABS motors.

 

A significant price correction, cost reduction and introduction of more efficient new range of products are the key focus in export segment to further increase market share and profitability.

 

Aftermarket Business

 

The focus on developing a strong Aftermarket sales and service solutions division has shown good progress with a 10% growth over the previous year and exceeding the market which was growing at a rate of 6 to 8 %. Demonetization disrupted an otherwise steady progress; however the company focused on areas like OE Spares which was not significantly impacted to stabilize the situation. Filters and Two-Wheeler grew at rates over 50% from albeit smaller base and is projected to continue this trend during the current year. While the effects of GST during this year is still unpredictable the company has taken a target to improve the growth projection to 12% with significant contributions from LTVS Electrical spares and Competitor Non-OE Full Units and All Makes Spares.

 

The company will continue to aggressively introduce over 100 new part numbers in these areas and improve their coverage in the market.

 

AUTOMOBILE INDUSTRY SCENARIO

 

The automobile market rebounded strongly after a short blip seen in sales in the immediate aftermath of the demonetization drive in November. Indian passenger vehicle market crossed a critical milestone of 3 million units in 16-17, growing the fastest in the past five years at 9%, even as the Indian two-wheeler sales overtook China to become the largest market for two-wheeler in the world at the end of 2016.

 

Not to be left behind, the commercial vehicle market too improved during the year barring a minor hiccup when BS III stock became redundant, after the Supreme Court directive. With a favorable environment of low-interest rates, stable fuel prices and rising disposable income, passenger vehicle market including that of two wheelers are slated to set new records in FY 18.

 

Emission Norms

 

The Government of India announced the introduction of BS-IV emission norms from 1st April 2017 and BS-VI emission norms from 1st April 2020. Starting April 2017, the automotive industry across segments has moved to BS-IV emission norms with the fuel being made available countrywide.The Supreme Court's order suspending sale of BS-III vehicles from 1st April 2017 had the biggest impact on the MandHCV and two wheeler segments, while most OEMs catering to passenger vehicles segment had moderated their production earlier.

 

Supreme Court's order banning BS-III retail sales effective 1st April 2017 has severe implications for the implementation of BS-VI emission norms, as automakers will now need to be BS-VI production ready by Sep 2019, at the latest, to gradually phase out BS-IV during Jan-Mar 2020. According to SIAM, the Industry is expected to invest upto INR. 1 lakh crore for upgrading products to meet emission norms and new safety norms. Niti Aayog in its policy paper has recommended that the Government of India actively encourage the shift in production of PVs to Electric Vehicles (EVs) envisaging a complete shift to EVs by 2030.

 

Passenger Vehicles

 

Passenger vehicle sales in India crossed the three million milestones for the first time in 2016-17, with the segment witnessing a growth of 9.23%, the highest since 2010-11 when they grew 28.2%. A stronger-than-expected revival in domestic sales in fiscal 2017-18 will be driven by a higher-than-expected boost from the 7th Pay Commission recommendations and strong recovery in rural demand.

 

The move away from Diesel vehicles in favour of gasoline vehicles continued during the year with diesel share coming down from a high of 58% in 12-13 to 41% in FY 17. It is expected that introduction of BS-IV norms across the country from Apr 01, 2017 and BS-VI Emission norms from Apr 01, 2020 would reduce the share of diesel vehicles in smaller cars to small proportion in years to come.

 

Utility Vehicles

 

There is a re-adjustment happening in the Indian passenger vehicle market with demand for utility vehicles rising at a much faster rate ahead of conventional cars. The key contributors to higher demand for UVs are shifting preferences among buyers to aspiration products such as UVs and more options available in the segment. In addition, the proliferation in the compact UV models which are available at attractive price points and availability of both petrol and diesel variants have also fuelled demand. During the year, utility vehicle sales were at 7.62 lakh units as against 5.86 lakh units in the previous fiscal, a growth of 29.91%. This is the highest growth rate achieved by the UV segment after 2013-14 when it grew by 52%. Volume growth in passenger vehicle segment will be led by the SUV segment in FY18 and FY19 as well. There will be new offerings in the segment from Tata Motors, Renault, Hyundai and MandM.

 

Commercial Vehicles

 

The Indian CV industry ended 2016-17 with a marginal growth of 6% in comparison to 11.5% witnessed in the prior year. Confluence of factors including waning replacement-led demand, weak cargo availability from industrial sectors and uncertainty related to effective taxation on CV industry under the GST regime were the key factors that contributed to the slowdown. The domestic CV volumes took a further hit after November 2016 when the government's demonetisation move put the brakes on the operations of the road logistics sector which depends heavily on cash transactions. The CV industry is likely to witness 6-8 percent growth in FY2018 aided by higher budgetary allocation towards the infrastructure and rural sectors, although the technology upgradation of CVs to meet higher Emission norms would result in increased cost of 6-10% which may have an immediate impact on demand. Potential implementation of a scrap page programme of older vehicles will also trigger replacement demand.

 

Two Wheelers

 

The two wheeler segment grew by 6% in the FY 2016-17 compared to the previous financial year. There has been a positive growth of 12% in the scooter segment and 2% in the Motorcycle segment as compared to the previous year. The Moped segment grew by 25%. The probable growth rate for the two wheeler segment for FY 2017-18 is expected to be at 6-8 %. The growth of scooters is likely to outperform motorcycles growth rate in line with current trend.

 

Tractors

 

The tractor industry in India had posted an 18% volume growth at 5.8 lakh units in the financial year. After a robust growth in domestic volumes in the festive period, the growth momentum in monthly domestic sales was halted in November 2016 by demonetization, wherein the domestic volumes declined by 13% a year-on-year basis. After the minor blip, sales volumes growth recovered in Jan-March quarter with industry volumes continuing to grow at a moderate pace.

 

 

UNSECURED LOANS:

(INR In Million)

Particulars

As on

31.03.2017

As on

31.03.2016

SHORT TERM BORROWING

 

 

Commercial paper

250.000

500.000

Other loans and advances, others

289.611

263.510

Total

539.611

763.510

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

C73205734

90296630

STATE BANK OF INDIA

01/03/2005

15/12/2015

-

635000000.0

INDUSTRIAL FINANCE BRANCH155 ANNA SALAICHENNAITN600002IN

2

Y10421084

90298157

UTI BANK LIMITED

14/09/2001

-

-

400000000.0

MAKER TOWERS 'F'; 13TH FLOORCUFFE PARADE; COLABAMUMBAIMH40005IN

3

Y10420000

90297073

INDIAN BANK

29/09/1999

24/05/2001

-

16700000.0

INDUSTRIAL FINANCE BRANCHM. M. D. A. TOWERS; EGMORECHENNAITN600008IN

4

Y10420489

90297562

THE INDUSTRIAL CREDIT 7 INVESTMENT CORPORATION OF INDIA LTD.

10/07/1992

-

-

20000000.0

163BACKBAY RECLAMATIONBOMBAYMH400020IN

5

Y10420462

90297535

BANK OF BARODA

19/06/1991

05/03/1992

-

30000000.0

INDUSTRIAL FINANCE BRANCH252A; 1ST & 2ND FLOOR; TTK ROADMADRASTN600018IN

6

C79609434

90298025

HONGKONG & SHANGHAI BANKING CORPORATION

31/12/1992

-

10/02/2016

20000000.0

30RAJAJI SAIAIMADRASTN600001IN

7

C36633618

90297793

STATE BANK OF INDIA

18/02/1999

10/09/2001

08/12/2014

217500000.0

INDUSTRIAL FINANCE BRANCHANNA SALAICHENNAITN600002IN

8

C36719987

90295471

STATE BANK OF INDIA

21/08/1975

-

08/12/2014

15000000.0

ANNA ROADMADRASTN600002IN

9

C36718559

90297442

STATE BANK OF INDIA

12/06/1987

30/05/1991

08/12/2014

78000000.0

INDUSTRIAL FINANCE BRANCHMADRASTN600002IN

10

C36724011

90296643

STATE BANK OF INDIA

09/03/1972

-

08/12/2014

34500000.0

MADRASMADRASTN600002IN

 

 

FIXED ASSETS:

 

Tangible assets

 

  • Land
  • Buildings
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • Office equipment

 

Intangible assets

 

  • Computer software
  • Know-how

 

 

 

 

 

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 67.96

UK Pound

1

INR 91.88

Euro

1

INR 80.28

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

VAR

 

 

Report Prepared by :

KVT

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.