ABOUT MIDLAND MICROFIN LIMITED
MIDLAND MICROFIN LIMITED is the first Punjab-based Microfinance Institution (MFI) having its Head Office at Jalandhar, Punjab, and is working towards Financial & Social Empowerment of Women by way of extending small Business Loans. The
The company is registered as an 'NBFC – MFI' with the Reserve Bank of India (RBI) and has been complying with all the regulatory and legal requirements since inception.
Midland Microfin Limited is focused on providing finance at the 'bottom of the pyramid' and customers with low income as a sustainable source of livelihood thereby improving their standard of living. The company offers a range of products and services, which have been developed on the basis of the financial needs of progressive poor working women. These loans help those people to finance their micro-enterprises. Apart from Loan products, the company also offers Insurance services.
Currently, MML is successfully catering to its client base with 219 branches spread over in 7 states i.e. Punjab, Haryana, Rajasthan, Uttar Pradesh, Bihar, Jharkhand, Himachal Pradesh, and Union Territory of Chandigarh.
The company has taken various initiatives to reduce the operational cost without compromising the quality of operations and at the same time, increasing the efficiency level of the existing branches.
The Debt Securities of Midland Microfin Limited are listed on BSE Limited.
27th May 1988
Category/Sub-category of the Company
Public Limited Company
Address of the Registered office and contact details
The AXIS, Plot No. 1, R.B Badari Dass Colony,
Jalandhar - 144 001 (Punjab) India
Name, Address and Contact Details of
Registrar and Transfer Agent, if any
Skyline Financial Services Private Limited
D-153 A, 1st Floor, Okhla Industrial Area,
Phase - 1, New Delhi - 110 020
+91 11 26812682; 26812683
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
Micro Finance Activity
BOARD OF DIRECTORS
Mr. Vijay Kumar Bhandari (Chairman)
Mr. Amardeep Singh Samra (Managing Director)
Mr. Harpal Singh (Director)
Mr. Shant Kumar Gupta (Independent Director)
Mr. Janak Raj Gupta (Independent Director)
Mr. Sachin Kamath (Nominee Director)
Mrs. Kamna Raj Aggarwalla (Independent Director)
PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES
MIDLAND MICROFIN LIMITED does not have any subsidiary or associate company.
MIDLAND MICROFIN LIMITED UNLISTED SHARE DETAILS
Total Available Shares:
Rs. 10 Per Equity Share
Last Traded Price:
Rs. 309.87 Crore
(As on 31-03-2020)
Number of shares
% of total Shares of the company
India’s financial services sector is much diversified and comprises various entities such as commercial banks, insurance companies, co-operatives, mutual funds, non-banking financial companies (NBFCs), and other various entities. The share of NBFCs is continuously growing in the financial services industry. As per RBI, NBFCs have outperformed Scheduled Commercial Banks (SCBs) in terms of growth in advances and in asset quality. It is expected that the NBFCs will grow their share in the financial services sector in near future.
The FY 2020 has been one of the most eventful and challenging years that the financial services industry has experienced. The Outbreak of the COVID 19 pandemic across the globe and in India has contributed to a significant decline and volatility in the global and Indian Financial markets and a slowdown in economic activities. Since the duration and magnitude of COVID 19 are still uncertain, it will affect the plans of this industry for FY 2021.
According to ICRA, a rating agency, the NBFC industry is likely to face asset quality pressure in the short term. However, the majority of the NBFC industry will withstand any stress as their collection capacity is improving. Moreover, their balance sheets mention that they are maintaining sufficient liquidity for tackling emergencies.
RBI has announced various measures, as a part of the response to the economic challenge faced by the NBFC industry, to aid the liquidity crisis in the system and to make NBFC work easier. RBI has introduced the Liquidity Coverage Ratio requirement for all types of NBFCs with an asset size of Rs.5000 Crore.
PROFIT & LOSS STATEMENT OF MIDLAND MICROFIN LIMITED (In Rs. Crores)
Total Revenue from Operations
Profit/Loss before Tax and Exceptional items
Profit After Tax (PAT)
BALANCE SHEET OF MIDLAND MICROFIN LIMITED (In Rs. Crores)
31st March 2020
31st March 2019
Cash and cash equivalents
Other financial assets
TOTAL FINANCIAL ASSETS
Property, plant and equipment
Other non-financial assets
TOTAL NON-FINANCIAL ASSETS
LIABILITIES AND EQUITY
Derivative financial instruments
Borrowings (other than debt securities)
Other financial liabilities
TOTAL FINANCIAL LIABILITIES
Other non-financial liabilities
TOTAL NON-FINANCIAL LIABILITIES
Equity share capital
TOTAL LIABILITIES AND EQUITY
Dividend (final + interim) (In Rs.)
Retained Earnings (Consolidated) (In Rs. Crores)
PERFORMANCE OF THE COMPANY
Revenue from Operations of the company increased by 58.33% from Rs. 112.36 Crore in FY 2019 to Rs. 177.89 Crore in FY 2020.
EBITDA of the company increased significantly by 61.42% from Rs. 113.68 Crore in FY 2019 to Rs. 183.50 Crore in FY 2020. EBITDA margins of the company increased from 10.65% in FY 2019 to 15.30% in FY 2020.
Net profit of the company increased by 116.62% from Rs. 8.65 Crore in FY 2019 to Rs. 18.73 Crore in FY 2020.
The book value of the company as of 31st March 2020 was Rs. 38.27.
The company has given a dividend of Rs. 0.60 per equity share for FY 2020.
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