ABOUT MIDLAND MICROFIN LIMITED Unlisted Shares
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 its 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.
INCORPORATION DETAILS
|
CIN |
U65921PB1988PLC008430 |
|
Registration Date |
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, B.M.C. Chowk, 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 |
64920 |
100% |
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: |
3,09,86,675 |
|
Face Value: |
Rs. 10 Per Equity Share |
|
ISIN: |
INE884Q01015 |
|
PAN No. |
AAGCS6186A |
|
Lot Size: |
100 Shares |
|
Last Traded Price: |
Rs. 100 |
|
Market Cap: |
Rs. 309.87 Crore |
SHAREHOLDING PATTERN
(As on 31-03-2020)
|
S. No. |
Shareholders’ Name |
Number of shares |
% of total Shares of the company |
|
1 |
Promoters Shareholding |
1,06,63,884 |
32.00% |
|
2 |
Public Shareholding |
2,26,61,761 |
68.00% |
|
|
Total |
3,09,86,675 |
100.00% |
INDUSTRY OUTLOOK
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)
|
PARTICULARS |
2020 |
2019 |
2018 |
|
Interest Income |
177.89 |
112.36 |
48.94 |
|
Total Revenue from Operations |
183.50 |
113.68 |
53.04 |
|
EBITDA |
28.08 |
12.11 |
-0.83 |
|
Finance Cost |
98.96 |
59.54 |
27.68 |
|
Depreciation |
3.64 |
1.68 |
1.34 |
|
Other Income |
0.64 |
2.21 |
3.76 |
|
Profit/Loss before Tax and Exceptional items |
25.08 |
12.64 |
1.60 |
|
Total Tax |
6.35 |
3.99 |
0.42 |
|
Profit After Tax (PAT) |
18.73 |
8.65 |
1.18 |
|
EPS |
5.96 |
3.70 |
0.43 |
BALANCE SHEET OF MIDLAND MICROFIN LIMITED (In Rs. Crores)
|
PARTICULARS |
31st March 2020 |
31st March 2019 |
|
ASSETS |
||
|
FINANCIAL ASSETS |
||
|
Cash and cash equivalents |
223.48 |
214.51 |
|
Trade receivables |
0.27 |
0.46 |
|
Loan portfolio |
726.46 |
543.19 |
|
Investments |
0.00 |
5.00 |
|
Other financial assets |
7.38 |
2.10 |
|
TOTAL FINANCIAL ASSETS |
957.60 |
765.26 |
|
NON-FINANCIAL ASSETS |
||
|
Tax assets |
4.50 |
3.64 |
|
Property, plant and equipment |
13.25 |
6.57 |
|
Intangible assets |
1.13 |
0.98 |
|
Other non-financial assets |
3.04 |
1.83 |
|
TOTAL NON-FINANCIAL ASSETS |
21.91 |
13.03 |
|
TOTAL ASSETS |
979.51 |
778.28 |
|
LIABILITIES AND EQUITY |
||
|
FINANCIAL LIABILITIES |
||
|
Derivative financial instruments |
1.09 |
0.00 |
|
Trade payables |
0.66 |
0.82 |
|
Debt securities |
103.55 |
129.25 |
|
Borrowings (other than debt securities) |
659.00 |
481.93 |
|
Subordinated liabilities |
77.99 |
61.48 |
|
Other financial liabilities |
15.79 |
19.13 |
|
TOTAL FINANCIAL LIABILITIES |
858.08 |
692.60 |
|
NON-FINANCIAL LIABILITIES |
||
|
Provisions |
1.41 |
1.09 |
|
Other non-financial liabilities |
1.42 |
1.21 |
|
TOTAL NON-FINANCIAL LIABILITIES |
2.83 |
2.29 |
|
EQUITY |
||
|
Equity share capital |
33.33 |
28.79 |
|
Other equity |
85.27 |
54.60 |
|
TOTAL EQUITY |
118.59 |
83.39 |
|
TOTAL LIABILITIES AND EQUITY |
979.51 |
778.28 |
DIVIDEND HISTORY
|
Particulars |
2020 |
2019 |
2018 |
|
Dividend (final + interim) (In Rs.) |
0.60 |
0.60 |
Nil |
|
Retained Earnings (Consolidated) (In Rs. Crores) |
186.05 |
59.37 |
-6.42 |
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.
The 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.
