WABCO-TVS (INDIA) LIMITED INFORMATION MEMORANDUM ...
WABCO-TVS (INDIA) LIMITED INFORMATION MEMORANDUM ...
WABCO-TVS (INDIA) LIMITED INFORMATION MEMORANDUM ...
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<strong>WABCO</strong>-<strong>TVS</strong> (<strong>INDIA</strong>) <strong>LIMITED</strong> <strong>INFORMATION</strong> <strong>MEMORANDUM</strong><br />
of cash flows for dividends, capital expenditure or other reinvestment in their<br />
respective businesses.<br />
9. The public shareholders of SCL from the Effective Date, apart from continuing<br />
to be the equity shareholders of SCL are also now the Equity Shareholders.<br />
Brief financial details of the Demerged Company:<br />
(Rs.in crores except for per share data)<br />
Particulars *2007 2006 2005 2004<br />
Audited<br />
Total Income 864.81 674.60 568.83 445.78<br />
Profits Before Tax and Exceptional Items 128.08 106.31 76.33 66.36<br />
Net Profits After Tax and Exceptional Items 91.16 74.47 53.26 46.87<br />
Equity Share Capital 18.97 18.97 18.97 18.97<br />
EPS 48.06 39.26 28.08 24.25<br />
Return on Capital Employed 27.80% 28.10% 25.70% 29.20%<br />
* Includes Pre Demerger data of the Demerged Undertaking<br />
VI. SALIENT FEATURES OF THE SCHEME :<br />
1. The Demerged Undertaking was transferred to and vested in the Company<br />
with effect from the Appointed Date in terms of the Scheme.<br />
2. The particulars of assets and liabilities of the Brakes Business transferred to<br />
the Company, in terms of the Scheme, as on the Appointed Date are<br />
furnished below:<br />
(Rs.in Lakhs)<br />
Particulars Amount<br />
Assets<br />
Fixed Assets 10126.79<br />
Leasehold Land 351.59<br />
Capital Work in Progress 332.61<br />
Investments 820.02<br />
Current Assets, Loans and Advances 9,842.59<br />
Total Assets (A) 21,473.60<br />
Liabilities<br />
Loan Funds – Unsecured loans 1,204.99<br />
Current Liabilities and Provisions 8,273.53<br />
Total Liabilities (B) 9,478.52<br />
Surplus (A) – (B) 11,995.08<br />
3. The surplus amount representing the excess of the Total Assets (A) over the<br />
Total Liabilities (B) of the Brakes Business of SCL was also transferred to the<br />
Company as detailed below:<br />
(Rs. in Lakhs)<br />
Share Capital 948.38<br />
General Reserve 7832.12<br />
Profit and Loss (Surplus) 3214.58<br />
Total 11995.08<br />
4. The Scheme inter alia also provided for the reduction in the face value of equity<br />
shares of SCL from Rs. 10/- to Rs. 5 each. In lieu thereof, the equity<br />
shareholders of SCL whose names stood in the Register of Members as on the<br />
Record Date were allotted one Equity Share of Rs.5/- each in the Company<br />
credited as fully paid for every one equity share of Rs.10/- each held by them<br />
in SCL as on that date.<br />
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