IKF FINANCE LIMITED DELISTED SHARE
ABOUT IKF FINANCE LIMITED
IKF FINANCE LIMITED(‘the Company’ or ‘the Holding Company’)was registered as a non-depositaccepting Non-Banking Financial Company (‘NBFC-ND’) with the Reserve Bank of India (‘RBI’) andclassified as a Non-Banking Financial Company- Asset Finance Company (‘NBFC-AFC’)with effect from May 2014. The company is one of the most prominent asset financing company of South India.
IKF Finance Limited provides finance for commercial vehicles, construction equipment and other loans. The company’s primary focus is on financing the purchase of commercial vehicles, three wheelers, cars & tractors. IKF Finance is also involved in asset management, for that purpose it has partnered with various banks and financial institutions.
The company has launched Working Capital Loans to fulfil the emergency and daily needs of small road transport operators. There is very less competition in this particular area. This enables their customers to meet expenses arising out of unforeseen situations such as accidents, tax payments, overhauling of vehicles, etc.
INCORPORATION DETAILS
CIN | U65992AP1991PLC012736 |
Registration Date | 30 May 1991 |
Address of the Registered office and contact details | 40-1-144,3rd FLOOR, Corporate Centre,M.G.Road, Vijayawada, Andhra Pradesh-520010 |
Name, Address and Contact Details of Registrar and Transfer Agent, if any | M/s. Bigshare Services Private Limited 306, 3rd Floor, Right Wing, Amrutha Ville Opp. Yashoda Hospital, Rajbhavan Road Somajiguda, Hyderabad- 500 082 |
PRINCIPAL BUSINESS ACTIVITES OF THE COMPANY
Name and Description of main products/services | NIC Code of the product/service | % to total turnover of the Company |
Non Banking Financial Activity | 99711 | 100.00% |
BOARD OF DIRECTORS
Mr.V.G.K.Prasad (Managing Director)
Mrs.V.Indira Devi (Whole Time Director)
Mrs. K Vasumathi Devi (Executive Director)
Dr. Sinha S Chunduri (Director)
Mr .S Veerabhadra Rao (Independent Director)
Mr. K Satyanarayana Prasad (Independent Director)
Mr.Vinit Mukesh Mehta (Nominee Director)
PARTICULARS OF SUBSIDIARYCOMPANIES
Name of the Company | % of shares held |
IKF Home Finance Limited | 91.48% |
IKF FINANCE LIMITEDUNLISTED SHARE DETAILS
Total Available Shares: | 4,74,79,379 |
Face Value: | Rs. 10 Per Equity Share |
ISIN: | INE859C01017 |
PAN NO | AAACI4784J |
Lot Size: | 100 |
Last Traded Price | Rs 60 |
Market Cap: | 284.88 CRORE |
SHAREHOLDING PATTERN
(As on 31-03-2020)
S. No. | Shareholders’ Name | Number of shares | % of total Shares of the company |
1 | Promoters Shareholding | 2,43.93,705 | 51.38% |
2 | Public Shareholding | 2,30,85,674 | 48.62% |
| Total | 4,74,79,379 | 100.00% |
Apart from this, Promoters of the company also hold 51,79,688 partly paid up equity shares.
INDUSTRY OUTLOOK
FY 19-20 continued was a difficult year for the automobile industry. Continuity of subdued economic activityresulted in lower sale of automobiles. The overall Commercial Vehicles segment registered a de-growth of 28.75% in FY 2020 as compared to the last year. Within the Commercial Vehicles, Medium& Heavy Commercial Vehicles (M&HCVs) and Light Commercial Vehicles declined by 42.47% and20.06% respectively in FY 2020 over FY 2019.
The sale of Passenger Vehicles declined by 17.88% in FY 2020 over FY 2019.Within the Passenger Vehicles, the sales of Passenger Carsand Vans declined by 23.58% and 39.23% respectively while sales of UtilityVehicles marginally increased by 0.48% in FY 2020 over last year.Sale of Three Wheelers declined by 9.19% in FY 2020 over FY 2019. Within theThree Wheelers, Passenger Carrier and Goods Carrier declined by 8.28% and 13.27% respectivelyin FY 2020 over FY 2019.Two Wheelers sales registered a de-growth of 17.76% in FY 2020 over FY 2019. Withinthe Two Wheelers segment, Scooters, Motorcycles and Mopeds declined by 16.94%, 17.53% and27.64% respectively in FY 2020 over FY 2019.
Outlook for 2021 is still uncertain, with the COVID-19 situation evolving eachday. Almost all the sectors, except agriculture and allied activities, of the economy have been adversely impacted.
In April-September 2020, automobile sales witnessed the sharp decline asPassenger Vehicle sales down by 34%, Commercial Vehicle sales down by56.01%, Three-wheeler sales down by 82.26% and Twowheelersales down by38.28% compared to April-September 2019. However, September 2020 witnessed a sharp surge in domestic wholesales (sales by OEMs to Dealers), not onlysequentially, but also on Year on Year basis in segments like tractors, passenger vehicles and two wheelers and the retail salesof passenger vehicles registered a growth of 26.45% and Two Wheelers registered a growth of 1.64% compared toSeptember 2019. The retail sales of Commercial Vehicles and Three Wheelers continue to register de-growth butare expected to perform better in second half of FY 2021.
KEY FINANCIALS OF IKF FINANCE LIMITED(In Rs. Lakhs)
Particulars | 2020 | 2019 | 2018 | 2017 |
Revenue from Operations | 22,996.02 | 15,778.78 | 13,569.69 | 12,583.42 |
EBITDA | 16,589.38 | 11,135.80 | 10,076.85 | 9,714.04 |
EBITDA margin | 72.14% | 70.57% | 74.26% | 77.20% |
Finance Cost | 12,534.48 | 8,551.40 | 7,078.48 | 7,062.37 |
Depreciation | 194.8 | 131.23 | 72.71 | 91.84 |
Other Income | 954.23 | 38.86 | 9.28 | 9.08 |
Profit Before Tax | 4,814.33 | 2,492.03 | 2,934.94 | 2,568.92 |
Total Tax | 1,230.08 | 618.51 | 1,019.44 | 882.81 |
Profit After Tax (PAT) | 3,584.25 | 1,873.52 | 1,915.50 | 1,686.11 |
EPS | 7.13 | 3.95 | 4.18 | 3.70 |
BALANCE SHEET OF IKF FINANCE LIMITED(In Rs. Lakhs)
Particulars | 2020 | 2019 |
ASSETS | ||
FINANCIAL ASSETS | ||
Cash and Cash Equivalents | 7,004.56 | 5,392.24 |
Trade Receivables | 23.96 | 135.42 |
Loans | 1,37,854.68 | 1,21,369.52 |
Other financial assets | 1,428.77 | 1,365.59 |
TOTAL FINANCIAL ASSETS | 1,46,311.97 | 1,28,262.77 |
NON FINANCIAL ASSETS | ||
Tax assets | 455.26 | 532.93 |
Tangible assets | 444.8 | 476.72 |
Intangible assets | 993.16 | 953.73 |
Other non financial assets | 400.09 | 441.27 |
TOTAL CURRENT ASSETS | 2,293.31 | 2,404.65 |
TOTAL ASSETS | 1,48,605.28 | 1,30,667.42 |
EQUITY AND LIABILITIES | ||
EQUITY | ||
Equity Share capital | 5,027.64 | 5,027.64 |
Other Equity | 25,555.01 | 22,015.55 |
Non Controlling Interest | 422.3 | 177.39 |
TOTAL EQUITY | 31,004.95 | 27,220.58 |
LIABILITIES | ||
FINANCIAL LIABILITIES | ||
Payables | 17.85 | 26.05 |
Debt securities | 6,109.76 | 12,609.31 |
Borrowings (Other than debt) | 1,00,797.04 | 81,240.00 |
Subordinated liabilities | 6,450.76 | 4,525.83 |
Other financial liabilities | 3,805.94 | 4,615.01 |
TOTAL FINANCIAL LIABILITIES | 1,17,181.35 | 1,03,016.20 |
NON FINANCIAL LIABILITIES | ||
Tax liabilities | 38.68 | 88.44 |
Provisions | 230.93 | 150.15 |
Other non financial liabilities | 149.36 | 192.08 |
TOTAL NON FINANCIAL LIABILITIES | 418.97 | 430.67 |
TOTAL LIABILITIES | 1,17,600.32 | 1,03,446.87 |
TOTAL EQUITY AND LIABILITIES | 1,48,605.27 | 1,30,667.45 |
DIVIDEND HISTORY
Particulars | 2020 | 2019 | 2018 |
Dividend (final + interim) (In Rs.) | Nil | Nil | Nil |
Retained Earnings (Consolidated) (In Rs. Lakhs) | 11,845.59 | 9,132.53 | 8,181.49 |
PERFORMANCE OF THE COMPANY
Company has registered a growth of 45.74% in its revenue from Operations from Rs. 15,778.78 lakhs in FY 2019 to Rs. 22,996.02 lakhs in FY 2020.
EBITDA of the company has increased by 48.97% from Rs. 11,135.80 lakhs in FY 2019 to Rs. 16,589.38 lakhs in FY 2020.
Finance Cost of the company has increased by 46.5% in FY 2020 and touched Rs. 12,534.48 lakhs from Rs. 8,551.40 lakhs in FY 2019.
Profit After Tax of the company increased by 91.3% to Rs. 3,584.25 lakhs in FY 2020 from Rs. 1,873.52 lakhs in FY 2019.
In FY 2020, Company has mobilized Term Loan(s) of Rs.3,500lakhs from Woori Bank, Rs. 1,000lakhs from IndusIndBank, Rs. 1,500lakhs from AU Small Finance Bank, Rs. 7500lakhs from Union Bank of India, Rs. 3500 lakhs from HDFC Bank, Rs. 1500lakhs from Utkarsh Small Finance Bank, and Rs. 11,500lakhs from State Bank of India.Company has mobilized Rs.3,300lakhs from Unifi AIF by issuing Non ConvertibleDebentures.
Total borrowings of the company reached Rs. 1,06,906.80 lakhs in FY 2020, up by 13.9% from Rs. 93,849.31 lakhs in FY 2019.
The Capital to Risk Assets Ratio of the company is 21.19%as on 31-03-2020, well above the minimum of 15%prescribed by the Reserve Bank of India.
IKF Finance Limited has not given any dividend from the past three years.
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