About ICL FINCORP LIMITED Unlisted Shares
ICL FINCORP LIMITED was incorporated as Jawahar Finance Limited in December 1991 in Chennai. The Company was later renamed Irinjalakuda Credits & Leasing Company Limited in April 2004, which was further renamed ICL Fincorp Limited in May 2016. The company is a non-deposit accepting Non-Banking Financial Company (NBFC) that provides a wide range of fund-based services. The company has consciously built a diversified lending business covering retail consumers, small and medium enterprises, and commercial borrowers. The business model of the Company is built on well-defined multiple product offerings and well-developed systems and processes. The product portfolio of the company includes Gold loans, Property loans, Business loans, Vehicle loans & HP loans, Insurance, Money Transfer, Foreign Exchange, and Debenture. ICL Fincorp Limited has a network of 163 branches spread across 5 states in South India, i.e. Kerala, Telangana, Tamil Nadu, Karnataka, and Andhra Pradesh. The company has plans to spread its presence in Pan India very soon. The Company is in the process of improving the efficiency of operations of existing branches by identifying those branches which are below the Break-Even Point in terms of revenue generation and taking appropriate actions like merging, shifting, or closure through due statutory procedures.
INCORPORATION DETAILS
|
CIN |
U65191TN1991PLC021815 |
|
Registration Date |
09 December 1991 |
|
Category/Sub-category of the Company |
Public Company Limited by Shares - NBFC |
|
Address of the Registered office and contact details |
No.61/1, VGP Complex, First Avenue, Ashok Nagar Chennai, Tamil Nadu –600083 Ph: 0480-2828071 |
|
Name, Address and Contact Details of Registrar and Transfer Agent, if any |
Cameo Corporate Services Limited "Subramanian Building", #1, Club House Road, Chennai, Tamil Nadu - 600 002 Ph: 044-28460390 |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
|
Name and Description of main products/services |
NIC Code of the product/service |
% to the total turnover of the Company |
|
Providing Non-BankingFinancial Services |
64990 |
100% |
BOARD OF DIRECTORS
K G Anilkumar (Managing Director)
UmadeviAnilkumar (Whole Time Director)
K K Wilson (Director)
Nadarajan IPS (Independent Director)
Shinto Stanly (Independent Director)
Sajish Gopalan (Independent Director)
PARTICULARS OF SUBSIDIARY COMPANIES
|
Name of the Company |
% of shares held |
|
Salem ErodeInvestments Limited |
76.03% |
SHAREHOLDING PATTERN (As of 31-03-2020)
|
S. No. |
Shareholders’ Name |
Number of shares |
% of total Shares of the company |
|
1 |
K.G.Anilkumar |
1,28,75,300 |
29.04% |
|
2 |
UmadeviAnilkumar |
40,99,799 |
9.25% |
|
3 |
K.K.Wilson |
21,333 |
0.05% |
|
4 |
Public Shareholding |
2,73,38,520 |
61.66% |
|
|
Total |
4,43,34,952 |
100.00% |
INDUSTRY OUTLOOK
India’s financial services sector is very 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 ofNBFCs 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.
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.
KEY FINANCIALS OF ICL FINCORP LIMITED (In Rs. Lakhs)
|
Particulars |
2020 |
2019 |
2018 |
2017 |
|
Revenue from Operations |
5,783.64 |
4,901.60 |
2,899.63 |
1,282.45 |
|
EBITDA |
3,187.56 |
2,464.59 |
1,490.61 |
606.69 |
|
EBITDA margin |
55.11% |
50.28% |
51.41% |
47.31% |
|
Finance Cost |
2,567.98 |
2,018.07 |
1,155.20 |
410.71 |
|
Depreciation, amortization, and impairment |
556.69 |
448.37 |
237.59 |
112.25 |
|
Other Income |
14.75 |
40.99 |
8.17 |
0.57 |
|
Profit Before Tax |
77.65 |
39.14 |
105.99 |
84.30 |
|
Total Tax |
32.34 |
37.69 |
31.88 |
48.55 |
|
Profit After Tax (PAT) |
45.32 |
1.45 |
74.11 |
35.75 |
|
EPS |
0.12 |
0 |
0.33 |
0.29 |
BALANCE SHEET OF ICL FINCORP LIMITED (In Rs. Lakhs)
|
Particulars |
2020 |
2019 |
|
ASSETS |
||
|
FINANCIAL ASSETS |
||
|
Cash and cash equivalents |
1,557.91 |
1,132.89 |
|
Loans |
24,944.27 |
18,989.02 |
|
Investments |
87.18 |
121.39 |
|
Other Financial assets |
1,573.55 |
2,165.76 |
|
TOTAL FINANCIAL ASSETS |
28,162.91 |
22,409.06 |
|
NON-FINANCIAL ASSETS |
||
|
Tax Assets |
443.26 |
51.36 |
|
Property, plant, and Equipment |
1,622.95 |
1,290.41 |
|
Intangible assets |
501.81 |
8.38 |
|
Other non-financial assets |
1,090.13 |
666.35 |
|
TOTAL NON-FINANCIAL ASSETS |
3,658.15 |
2,016.49 |
|
TOTAL ASSETS |
31,821.06 |
24,425.55 |
|
EQUITY AND LIABILITIES |
||
|
EQUITY |
||
|
Equity Share capital |
4,433.50 |
3,593.29 |
|
Other Equity |
2,590.58 |
1,691.15 |
|
Non-Controlling Interest |
573.07 |
0.00 |
|
TOTAL EQUITY |
7,597.14 |
5,284.45 |
|
LIABILITIES |
||
|
FINANCIAL LIABILITIES |
||
|
Payables |
58.19 |
46.44 |
|
Debt Securities |
16,971.95 |
14,050.85 |
|
Borrowings (Other than Debt Securities) |
146.43 |
594.70 |
|
Subordinate Liabilities |
4,086.60 |
2,189.00 |
|
Lease Liability |
441.65 |
326.80 |
|
Other financial liabilities |
2,197.07 |
1,803.74 |
|
TOTAL FINANCIAL LIABILITIES |
23,901.88 |
19,011.53 |
|
NON-FINANCIAL LIABILITIES |
||
|
Provisions |
222.83 |
83.26 |
|
Other non-financial liabilities |
99.21 |
46.31 |
|
TOTAL NON FINANCIAL LIABILITIES |
322.04 |
129.57 |
|
TOTAL LIABILITIES |
24,223.92 |
19,141.11 |
|
TOTAL EQUITY AND LIABILITIES |
31,821.06 |
24,425.55 |
DIVIDEND HISTORY
|
Particulars |
2020 |
2019 |
2018 |
|
Dividend (final + interim) (In Rs.) |
Nil |
Nil |
Nil |
|
Retained Earnings (Consolidated) (In Rs. Lakhs) |
54.63 |
23.16 |
27.78 |
PERFORMANCE OF THE COMPANY
Revenue from Operations of the company increased by 17.9% from Rs. 4,901.60 lakhs in FY 2019 to Rs. 5,783.64 lakhs in FY 2020.
EBITDA of the company increased by 29.33% from Rs. 2,464.59 lakhs in FY 2019 to Rs. 3,187.56 lakhs in FY 2020.
The finance cost of the company increased by 27.25% from Rs. 2,018.07 lakhs in FY 2019 to Rs. 2,567.98 lakhs in FY 2020.
The net profit of the company has grown significantly from Rs. 1.45 lakhs in FY 2019 to Rs. 45.32 lakhs in FY 2020.
The total loan given by the company as of 31st March 2020 was Rs. 24,944.27 lakhs, of which more than 90% of the loan portfolio of the company is under the Gold Loan Category.
The total Assets Under Management (AUM) for the company as a whole grew by 31% Year on Year. The business AUM in FY 2020 stood at Rs. 24,900lakhs as against Rs. 18,900lakhs recorded in FY 2019.
The book value of the company as of 31st March 2020 was Rs. 15.86 per equity share.
ICL Fincorp Limited has not given any dividends in the past three years.
