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×

manipal housing finance syndicate limited Mhfsl

72.50
+ 0.69 %
Scrip Name
MANIPAL HFSL
ISIN No.
INE03Y801013
PAN No.
AABCM1714D
Face Value
10
No. of Outstanding Shares
8,505,300
Market Capitalization
61.66 Crore

MANIPAL HOUSING FINANCESYNDICATE LIMITED UNLISTED SHARE


ABOUT MANIPAL HOUSING FINANCE SYNDICATE LIMITED (MHFSL)


MANIPAL HOUSING FINANCE SYNDICATE LIMITED (MHFSL) is a National Housing Bank (NHB) registered Housing Finance company based in Udupi, Karnataka. The company is jointly promoted by Manipal Group and Syndicate Bank.


Manipal Housing Finance Syndicate Limited was established in 1986 as a Public Limited Company. The company is a Triple ‘B+’ rated Housing Finance Company and it also has permission from National Housing Bank to accept public deposits.


The primary objective of the company is to provide long-term finance to individuals for various purposes related to houses. Manipal Housing Finance Syndicate Limited offers a wide range of home loan products for different needs of individuals including Purchase of House, Construction of House on self-acquired plot Home Improvement loans, Home extension loans, etc.


Apart from Home loans, Manipal Housing Finance Syndicate Limited also provides Gold Loan and Deposit services. Moreover, the company promotes insurance products to its home loan borrowers. For this purpose, Manipal Housing Finance Syndicate Limited has tie-up with a couple of reputed insurance companies.

 

INCORPORATION DETAILS


CIN

U65922KA1986PLC007396

Registration Date

06 January 1986

Address of the Registered office and contact details

“Manipal House”

Manipal – 576 104

Udupi District

Ph: 0820-2570741

Name, Address and Contact details of Registrar and Transfer Agent, if any

4th Floor, Trade World A Wing, Kamala Mills Compound

Senapati Bapat Marg, Lower Parel,

Mumbai – 400 013

Phone022 4914 2502 (D), 022 4914 2700 (B)

Website: www.ndml-nsdl.co.in

PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to total turnover of the Company

Housing Finance

65922

65.88%

Jewel Loan

64649

18.33%

Mortgage Loan

64910

15.00%



BOARD OF DIRECTORS

Sri N. A. Shanbhag (Chairman)

Mrs. Vijayalaxmi N. Pai (Director)

Sri B. Ganapathi Pai(Director)

Sri K. Srinivas Rao(Director)

Sri Daljeet Singh Bedi(Director)

Sri T. Sunil Pai(Executive Director)



PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

MANIPAL HOUSING FINANCE SYNDICATE LIMITED does not have any subsidiary or associate company.

 

MANIPAL HOUSING FINANCE SYNDICATE LIMITED UNLISTED SHARE DETAILS


Total Available Shares:

85,05,300

Face Value:

Rs. 10 Per Equity Share

ISIN:

INE03Y801013

PAN No.: 

AABCM1714D

Lot Size:

100

Last Traded Price:

RS. 70

Market Cap:

Rs. 59.54 Crore

 

SHAREHOLDING PATTERN

(As on 31-03-2020)

S. No.

Shareholders’ Name

No. of Shares

% of total Shares of the company

1

ICDS Limited

7,29,000

8.57

2

Syndicate Bank

6,00,000

7.05

3

MFC Limited

5,23,094

6.15

4

MPL InsuranceAgency Services (P) Limited

29,00,000

34.09

5

T. Narayan M. Pai

2,64,350

3.1

6

T. Sanjay Pai

2,43,000

2.85

7

Sangeetha Pai

2,84,603

3.36

8

Pranita Pai

2,76,103

3.24

9

Others

26,85,150

31.57


Total

85,05,300

100

 

INDUSTRY OUTLOOK

Housing is a fundamental necessity and it has and will always have significant socio-economic implications and plays a very important role in economic development.


According to the ICRA report, as of September 2019, the total outstanding mortgage loans amounted to Rs. 20.2 lakh crores. Of the total outstanding loans, housing finance companies (HFC) and non-bank financial companies (NBFC) contributed Rs. 7 lakh crores. Even after slow down of disbursements, the growth in HFCs loan portfolio remains unchanged at 35%.


Although liquidity issues hinder HFC disbursements, demand remains strong due to positive consumer sentiment. The government’s strong pressure on housing for all, the introduction of alternative investment funds (AIF) to reopen suspended real estate projects, and the benefits of the Real Estate Regulation and Development Act (RERA) have helped in increasing the trust factor of property consumers.


The slowdown in pre-Covid quarters and the disruptions during the outbreak and spread of Covid 19 and lockdown, credit growth of Banks and Financial companies including HFCs has severely moderated. The moratorium announced by the Reserve Bank of India as a part of the COVID 19 Relief Package has also created cash flow issues for financial companies and housing finance companies. No doubt, the Government of India has announced relief measures for tackling the situation. The Reserve Bank of India has also announced a number of measures to assist the financial system


According to ICRA's survey, with the growth of affordable housing and the disappearance of liquidity problems, the medium and long-term growth of the industry will reach 7% to 8%. According to the CRISIL report, by 2024, India'smortgagepenetrationrate is expected to reach 15% (currently approximately 12.4%).


The government continues to pay more attention to increasing the number of affordable housing and housing improvement benefits. The federal government in its budget extended the benefit of availing additional deduction of up to Rs. 1.5 lakhs for interest paid on affordable housing loans by an additional one year till 31 March 2021.


The credit-linked subsidy system (CLSS) for economically weaker sectors and low-income groups has opened the door for customers who avoided buying houses. As a result, a large number of new entrants entered the market. Banks too have increased attention to retail property financing which increased competition in the field of Rs 25-75 lakhs housing loans. HFCs in the affordable housing space are expected to grow at a CAGR of 30-50% over the next 3-5 years period.


 

KEY FINANCIALS OF MANIPAL HOUSING FINANCE SYNDICATE LIMITED(In Rs. Lakhs)


Particulars

2020

2019

2018

2017

Revenue from Operations

5,578.02

5,099.46

4,724.33

4,336.80

EBITDA

4,917.50

4,548.53

4,135.73

3,891.69

EBITDA margin

88.16%

89.20%

87.54%

89.74%

Finance Cost

3,736.55

3,385.81

3,076.24

2,973.25

Depreciation

38.24

36.32

26.71

23.94

Other Income

41.68

52.47

24.05

21.48

Profit Before Tax and exceptional items

1,184.39

1,178.87

1,056.83

915.98

Exceptional items

0.00

0.00

0.00

43.91

Total Tax

263.26

318.93

300.31

215.94

Profit After Tax (PAT)

921.13

859.94

756.52

656.14

PAT margin

16.39%

16.69%

15.93%

15.06%

EPS

10.70

9.98

8.77

7.54

 

BALANCE SHEET OF MANIPAL HOUSING FINANCE SYNDICATE LIMITED(In Rs. Lakhs)

Particulars

2020

2019

ASSETS



NON CURRENT ASSETS



Tangible assets

1,129.19

457.24

Long term loans and advances

36,522.41

38,779.67

Non-current investments

276.09

256.27

Other non current assets

1.46

3.73

TOTAL NON CURRENT ASSETS

37,929.15

39,496.91

CURRENT ASSETS



Inventories

0.74

0.76

Cash and Cash equivalents

203.27

248.68

Short term loans and advances

9,993.91

9,014.11

Other current assets

4.86

4.70

TOTAL CURRENT ASSETS

10,202.78

9,268.25

TOTAL ASSETS

48,131.93

48,765.16

EQUITY AND LIABILITIES



EQUITY



Share Capital

977.62

977.62

Reserves and Surplus

6,436.70

5,628.84

TOTAL EQUITY

7,414.32

6,606.45

LIABILITIES



NON CURRENT LIABILITIES



Borrowings

31,202.52

32,591.68

Provisions

452.07

380.12

Tax liabilities

434.50

440.71

TOTAL NON CURRENT LIABILITIES

32,089.09

33,412.51

CURRENT LIABILITIES



Borrowings

180.44

604.15

Trade Payables

72.59

53.24

Other current liabilities

8,217.06

7,940.14

Provisions

158.43

148.66

TOTAL CURRENT LIABILITIES

8,628.53

8,746.19

TOTAL LIABILITIES

40,717.61

42,158.71

TOTAL EQUITY AND LIABILITIES

48,131.93

48,765.16

 

DIVIDEND HISTORY

Particulars

2020

2019

2018

2017

Dividend (In Rs.) (final + interim)

1

0.5

0.4

0.4


 

PERFORMANCE OF THE COMPANY

Revenue from Operations, i.e. Interest income of Manipal Housing Finance Syndicate Limited increased by 9% from Rs. 5,099.46 Lakhs in FY 2019 to Rs. 5,578.02 Lakhs in FY 2020.


EBITDA of the company reached Rs. 4,917.50 Lakhs in FY 2020, registering a growth of 8% as compared to FY 2019. In FY 2019 EBITDA was 4,548.53 Lakhs.


Profit After Tax of the company improved by 7% from Rs. 859.94 Lakhs in FY 2019 to Rs. 921.13 Lakhs in FY 2020.


Total loan sanctions during FY 2020 amounted to Rs. 18,551 Lakhs.


Disbursements of loans during the year amounted to Rs. 17,496 Lakhsandoutstanding loans stood at Rs. 46,055 Lakhs.


Net NPA of the company on 31st March 2020 stood at 0.89%.


Net-owned funds of the company as of 31st March 2020 stood at Rs. 7,287 Lakhs as against Rs. 6,479 Lakhsas on 31st March 2019. There was thus, an increase of

Rs. 808 Lakhs in the Net Owned Funds, the percentage increase is 12.48%.


Current Ratio of the company for FY 2020 is 1.18, stating that the company is maintaining enough liquidity to pay off all the current liabilities.


The company has given dividends each year from FY 2017 to FY 2020. The company has given a total dividend of Rs. 1 for FY 2020.



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