-
Manappuram General Finance and Leasing Limited (MFL) Regd. & Corp.Office: V/104, Manappuram House, Valapad, Thrissur - 680567 Unaudited Financial Results for the quarter ended June 30, 2009 (Rs. in Lakhs) Particulars Quarter ended 30th June, 2009 (Unaudited) Quarter ended 30th June 2008 (Unaudited) Year ended 31st March, 2009(Audited) 1 Income from Operations 6,713.28 2,860.75 16,502.27 2 Total Expenditure 2,872.07 1,468.39 8,123.69 a) Staff Cost 860.52 489.33 2,769.88 b) Advertisement 780.54 166.17 816.99 c) Rent 185.97 92.09 544.00 d) Bad Debts and provision for doubtful debts 397.41 334.17 1,778.58 e) Depreciation 93.20 56.17 337.06 f) Other Expenditure 554.43 330.46 1,877.18 3 Profit from Operations before Other Income
and Interest (1-2)3,841.21 1,392.36 8,378.58 4 Other Income 22.07 6.60 108.70 5 Profit before Interest (3+4) 3,863.28 1,398.96 8,487.28 6 Interest 1,697.27 487.13 3,859.04 7 Profit(+)/Loss(-)before tax (5-6) 2,166.01 911.83 4,628.24 8 Tax expense 744.41 311.71 1,598.66 9 Net Profit (+)/Loss(-) (7-8) 1,421.60 600.12 3,029.58 10 Paid up Equity Share Capital (Face value:
Rs.10/- per share)1,725.58 1,428.36 1,725.58 11 Reserves excluding Revaluation reserves 14,361.83 12 Earnings Per Share (Rs.) - Basic 8.19 5.21 21.88 - Diluted 8.19 4.14 21.88 13 Aggregate of Public Shareholding - Number of Shares 12,021,982.00 9,505,511.00 12,017,856.00 - Percentage of shareholding 69.67 66.55 69.65 14 Promoters and promoter group Shareholding a) Pledged/Encumbered - Number of shares * 333,000.00 - Percentage of shares (as a % of the total
shareholding of promoter and promoter
group)* 6.36 - Percentage of shares (as a% of the total
share capital of the company)* 1.93 b) Non-encumbered - Number of shares 5,233,846.00 * 4,904,972.00 - Percentage of shares (as a % of the total
shareholding of promoter and promoter
group)100.00 * 93.64 - Percentage of shares (as a% of the total
share capital of the company)30.33 * 28.43 * Figures for the quarter ended June 30, 2008 are not required to be disclosed. The Company is engaged mainly in the business of gold loans, hypothecations loans and fee based activities. The segment wise disclosures are given below: Particulars Quarter ended June 30, 2009 (Unaudited) Quarter ended June 30, 2008 (Unaudited) Year ended March 31, 2009 (Audited) 1 Segment Revenue (a) Asset Finance 276.32 360.40 1,428.20 (b) Gold loan and other loans 6,373.16 2,454.85 (c) Fee Based activities 63.80 45.50 199.26 (d) Unallocated 22.07 6.60 108.70 Net sales/Income From Operations 6,735.35 2,867.35 16,610.97 2 Segment Results (a) Asset Finance (208.03) (133.81) (881.59) (b) Gold loan and other loans 2,464.75 1,107.57 6,237.40 (c) Fee Based activities 54.83 37.09 160.36 (d) Unallocated (145.54) (99.02) (887.93) Total Profit Before Tax 2,166.01 911.83 4,628.24 3 Capital Employed (a) Asset Finance 1,063.96 4,434.95 2,231.24 (b) Gold loan and other loans 17,582.33 5,436.45 15,059.83 (c) Fee Based activities 0.81 0.15 0.08 (d) Unallocated (438.24) (133.84) (503.90) Total 18,208.86 9,737.71 16,787.25 Notes: 1. The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in the meeting held on July 31, 2009 and have been subjected to a `Limited review` by the auditors.2. During the current quarter, the Company has acquired Manappuram Printers a sole proprietor firm from one of the promoters for a consideration of Rs 101.75 lakhs at book values.3. The Company has commenced its plans for merger of Manappuram Finance (Tamil Nadu) Limited (“MAFIT”) into the Company with retrospective effect from April 1, 2008. Subsequent to the quarter end, the Company has filed the Scheme of Amalgamation with the Madras High Court and with the Kerala High Court.4. The Company did not have any unresolved investor complaints as at the beginning / end of the quarter. During the quarter, the Company has not received any complaints.5. Figures of previous period/year have been regrouped / reclassified, wherever necessary.Place : Valapad
Date : July 31, 2009By order of the Board
V.P.Nandakumar
Chairman & Managing Director
-
Manappuram General Finance and Leasing Limited Regd. & Corp.Office: V/104, Manappuram House, Valapad, Thrissur - 680567 Unaudited Financial Results for the quarter ended September 30, 2009 (Rs. in Lakhs) Particulars Quarter ended September 30, 2009 (Unaudited) Quarter ended September 30, 2008 (Unaudited) Six months ended September 30, 2009 (Unaudited) Six months ended September 30, 2008 (Unaudited) Year ended March 31, 2009 (Audited) 1 Income from operations 8,641.05 3,765.56 15,354.33 6,631.59 16,502.27 2 Total Expenditure 2,716.85 2,024.42 5,588.92 3,492.81 8,020.45 a) Staff cost 918.40 749.22 1,778.92 1,238.55 2,769.88 b) Advertisement 838.38 154.50 1,618.92 320.67 816.99 c) Rent 207.07 111.39 393.04 203.48 544.00 d) Bad debts and provision for doubtful debts 178.37 433.93 575.78 768.10 1,778.58 e) Depreciation 115.32 75.74 208.52 131.91 337.06 f) Other Expenditure 459.31 499.64 1,013.74 830.10 1,773.94 3 Profit from operations before other income and interest (1-2) 5,924.20 1,741.14 9,765.41 3,138.78 8,481.82 4 Other income 56.48 11.85 78.55 13.17 108.70 5 Profit before interest (3+4) 5,980.68 1,752.99 9,843.96 3,151.95 8,590.52 6 Interest 3,173.81 729.27 4,871.08 1,216.40 3,962.28 7 Profit(+)/Loss(-)before tax (5-6) 2,806.87 1,023.72 4,972.88 1,935.55 4,628.24 8 Tax expense 961.04 356.48 1,705.45 668.19 1,598.66 9 Net Profit (+)/Loss(-) (7-8) 1,845.83 667.24 3,267.43 1,267.36 3,029.58 10 Paid up equity share capital (Face value: Rs.10/- per share) 1,725.58 1,428.36 1,725.58 1,428.36 1,725.58 11 Reserves excluding revaluation reserves 14,361.83 12 Earnings per share (Rs.) - Basic 10.75 4.61 18.94 9.74 21.88 - Diluted 10.75 4.61 18.94 8.75 21.88 13 Aggregate of public shareholding - Number of Shares 12,024,256 9,505,511 12,024,256 9,505,511 12,017,856 - Percentage of shareholding 69.68 66.55 69.68 66.55 69.65 14 Promoters and promoter group shareholding a) Pledged/Encumbered - Number of shares - * - * 333,000 - Percentage of shares (as a % of the total shareholding of promoter and promoter group) - * - * 6.36 - Percentage of shares (as a% of the total share capital of the company) - * - * 1.93 b) Non-encumbered - Number of shares 5,231,572 * 5,231,572 * 4,904,972 - Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100.00 * 100.00 * 93.64 - Percentage of shares (as a% of the total share capital of the
company)30.32 * 30.32 * 28.43 * Figures for the quarter and six months ended September 30, 2008 are not required to be disclosed. The Company is engaged mainly in the business of gold loans, hypothecations loans and fee based activities. The segment wise disclosures are given below: Particulars Quarter ended September 30, 2009 (Unaudited) Quarter ended September 30, 2008 (Unaudited) Six months ended September 30, 2009 (Unaudited) Six months ended September 30, 2008 (Unaudited) Year ended March 31, 2009 (Audited) 1. Segment Revenue (a) Asset Finance 136.72 471.75 413.04 832.15 1,428.20 (b) Gold loan and other loans 8,437.96 3,250.57 14,811.12 5,710.70 14,874.81 (c) Fee Based activities 66.37 43.24 130.17 88.74 199.26 (d) Unallocated 56.48 11.85 78.55 13.17 108.70 Net sales/Income From
Operations8,697.53 3,777.41 15,432.88 6,644.76 16,610.97 2. Segment Results (a) Asset Finance (237.58) (238.27) (445.61) (372.08) (881.59) (b) Gold loan and other loans 3,369.56 1,442.91 5,834.31 2,550.47 6,237.40 (c) Fee Based activities 58.50 33.04 113.33 70.13 160.36 (d) Unallocated (383.61) (213.96) (529.15) (312.97) (887.93) Total Profit Before Tax 2,806.87 1,023.72 4,972.88 1,935.55 4,628.24 3. Capital Employed (a) Asset Finance 112.72 3,634.03 112.72 3,634.03 2,231.24 (b) Gold loan and other loans 20,174.53 7,045.50 20,174.53 7,045.50 15,059.83 (c) Fee Based activities 1.32 0.53 1.32 0.53 0.08 (d) Unallocated (233.90) (294.35) (233.90) (294.35) (503.90) Total 20,054.68 10,385.71 20,054.68 10,385.71 16,787.25 Notes: 1 The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in the meeting held on October 21, 2009 and have been subjected to a 'Limited review' by the auditors. 2 The Company has commenced its plans for merger of Manappuram Finance (Tamil Nadu) Limited (“MAFIT”) into the Company with retrospective effect from April 1, 2008. During the quarter, the Company has filed the Scheme of Amalgamation with the Hon'ble High Courts of Tamilnadu and Kerala. 3 The Company did not have any unresolved investor complaints as at the beginning / end of the quarter. During the quarter, the Company has not received any complaints. 4 Figures of previous period/year have been regrouped / reclassified, wherever necessary. By order of the Board Place : Valapad V.P.Nandakumar Date : October 21, 2009 Executive Chairman
-
Manappuram Finance LimitedRegd. & Corp.Office:V/104, Manappuram House, Valapad, Thrissur - 680567Unaudited Financial Results for the quarter ended December 31, 2009
(In Lakhs) Particulars Quarter ended December 31, 2009
(Unaudited)Quarter ended December 31, 2008
(Unaudited)Nine months
ended
December 31, 2009 (Unaudited)Nine months ended December 31, 2008 (Unaudited) Year ended March 31, 2009 (Audited) 1 Income from operations 13,195.34 4,432.54 32,283.25 11,064.13 16,502.27 2 Total Expenditure 4,242.14 1,975.70 11,009.50 5,493.25 8,020.45 a) Staff cost 1,289.15 757.36 3,466.21 1,995.91 2,769.88 b) Advertisement 1,349.73 129.58 3,372.77 450.25 816.99 c) Rent 362.56 153.37 839.19 356.85 544.00 d) Bad debts and provision for
doubtful debts303.42 402.92 987.04 1,171.02 1,778.58 e) Depreciation 151.16 83.27 391.98 215.18 337.06 f) Other Expenditure 786.12 449.20 1,952.31 1,304.04 1,773.94 3 Profit from operations before
other income and interest (1-2)8,953.20 2,456.84 21,273.75 5,570.88 8,481.82 4 Other income 18.67 80.73 107.52 93.90 108.70 5 Profit before interest (3+4) 8,971.87 2,537.57 21,381.27 5,664.78 8,590.52 6 Interest 3,698.69 1,241.38 9,428.22 2,433.04 3,962.28 7 Profit(+)/Loss(-)before tax (5-6) 5,273.18 1,296.19 11,953.05 3,231.74 4,628.24 8 Tax expense 1,774.15 421.30 4,059.81 1,089.49 1,598.66 9 Net Profit (+)/Loss(-) (7-8) 3,499.03 874.89 7,893.24 2,142.25 3,029.58 10 Paid up equity share capital (Face
value: Rs.10/- per share)1,725.58 1,428.36 1,725.58 1,428.36 1,725.58 11 Reserves excluding revaluation
reserves14,361.83 12 Earnings per share (Rs.) - Basic 12.06 6.06 27.19 15.73 21.88 - Diluted 12.02 5.33 27.10 14.02 21.88 13 Aggregate of public shareholding - Number of Shares 12,015,781 9,498,673 12,015,781 9,498,673 12,017,856 - Percentage of shareholding 69.63 66.50 69.63 66.50 69.65 14 Promoters and promoter group shareholding a) Pledged/Encumbered - Number of shares - * - * 333,000 - Percentage of shares (as a % of the total shareholding of promoter and promoter group) - * - * 6.36 - Percentage of shares (as a% of the total share capital of the company) - * - * 1.92 b) Non-encumbered - Number of shares 5,240,047 * 5,240,047 * 4,904,972 - Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100.00 * 100.00 * 93.64 - Percentage of shares (as a% of the total share capital of the company) 30.37 * 30.37 * 28.43 * Figures for the quarter and nine months ended December 31, 2008 are not required to be disclosed. The Company is engaged mainly in the business of gold loans, hypothecations loans and fee based activities. The segment wise disclosures are given below: Particulars Quarter ended December 31, 2009
(Unaudited)Quarter ended December 31, 2008
(Unaudited)Nine months ended December 31, 2009
(Unaudited)Nine months ended December 31, 2008
(Unaudited)Year ended March 31, 2009 (Audited) 1. Segment Revenue (a) Gold loan and other loans 12,924.85 4,064.36 31,469.55 9,775.06 14,874.81 (b) Asset Finance 213.96 316.30 627.00 1,148.45 1,428.20 (c) Fee Based activities 56.53 51.88 186.70 140.62 199.26 (d) Unallocated 18.67 80.73 107.52 93.90 108.70 Net sales/Income From
Operations13,214.01 4,513.27 32,390.77 11,158.03 16,610.97 2. Segment Results (a) Gold loan and other loans 5,630.58 1,571.76 13,171.88 4,122.23 6,237.40 (b) Asset Finance (117.31) (287.48) (562.92) (659.56) (881.59) (c) Fee Based activities 29.36 41.55 142.69 111.68 160.36 (d) Unallocated (269.45) (29.64) (798.60) (342.61) (887.93) Total Profit Before Tax 5,273.18 1,296.19 11,953.05 3,231.74 4,628.24 3. Capital Employed (a) Gold loan and other loans 32,599.17 49,442.27 32,599.17 49,442.27 15,059.83 (b) Asset Finance (335.74) 4,588.51 (335.74) 4,588.51 2,231.24 (c) Fee Based activities 0.05 0.24 0.05 0.24 0.08 (d) Unallocated (133.11) (37,633.09 ) (133.11) (37,633.09) (503.90) Total 32,130.37 16,397.93 32,130.37 16,397.93 16,787.25 Notes: 1 The above results have been reviewed by the Audit Committee and taken on record by the Board of Directors in the meeting held on January 20, 2010 and have been subjected to a `Limited review` by the auditors.2 The Company had entered into a Scheme of Amalgamation (‘Scheme’) with Manappuram Finance (Tamil Nadu) Limited ("MAFIT") for the amalgamation of MAFIT with the Company effective April 1, 2008 (‘Appointed Date’). The scheme was approved by the Hon’ble High Court of Judicature at Madras on December 8, 2009, and Hon’ble High Court of
Judicature at Kerala on December 23, 2009. Pursuant to order of the High Court and consequent filing thereof with the Registrar of Companies, Coimbatore on December 23, 2009 and Registrar of Companies, Kerala on January 7, 2010, MAFIT has been amalgamated with the Company and stands dissolved without being wound up. The amalgmation is in the nature of merger and accordingly, has been accounted under "pooling of interest method" as per Accounting Standard - 14 `Accounting for Amalgamations`. Accordingly, the results for the current quarter and nine months ended December 31, 2009 include transactions of MAFIT. Hence, the results of the current quarter and nine months are not comparable with the corresponding quarter and nine months of the previous year.3 Pursuant to the Merger of MAFIT with the Company, 11,677,382 equity shares have been allotted to the share holders of MAFIT on January 11, 2010 and as such the earnings per share for the quarter and for the nine months ended on December 31, 2009 has been computed after giving effect to the shares allotted to shareholders of MAFIT in the Company as required by Accounting Standard 20- Earnings Per Share.4 Accordingly, the total number of equity shares of the Company has gone up to 28933210 and the total number of equity shares held by the promoters have gone up to 12371340 taking the promoters share holding in the Company to 42.76% and that of the public shareholding to 57.24% with effect from January 11, 2010.5 The Company did not have any unresolved investor complaints as at the beginning / end of the quarter. During the quarter, the Company had received and resolved 8 investor complaints.6 Figures of previous period/year have been regrouped / reclassified, wherever necessary.By order of the Board Place : Valapad V.P.Nandakumar Date : January 20, 2010 Executive Chairman
-
Manappuram General Finance and Leasing Limited Regd. & Corp.Office: V/104, Manappuram House, Valapad, Thrissur - 680567 Audited Financial Results for the year ended March 31, 2010 (Rs. in Lakhs) Particulars Year ended March 31, 2010 (Audited) Year ended March 31, 2009 (Audited) 1 Income from Operations 47,695.7016,502.402 Total Expenditure 15,945.308,123.70a) Staff Cost 5,364.002,839.50b) Advertisement 4,828.10817.00c) Rent 1,332.70544.40d) Bad Debts and provision for doubtful debts 1,420.001,778.60e) Depreciation 573.80337.10f) Other Expenditure 2,426.701,807.103 Profit from Operations before Other Income and Interest
(1-2)31,750.408,378.704 Other Income 124.40108.705 Profit before Interest (3+4) 31,874.808,487.406 Interest and finance charges 13,692.303,859.107 Profit(+)/Loss(-)before tax (5-6) 18,182.504,628.308 Tax expense 6,210.401,598.609 Net Profit (+)/Loss(-) (7-8) 11,972.103,029.7010 Paid up Equity Share Capital (Face value: Rs.10/- per share) 3,403.901,725.5811 Reserves excluding Revaluation reserves 57,652.1014,361.9012 Earnings Per Share (Rs.) (prior to split) - Basic 20.4610.94- Diluted 20.3310.94Earnings Per Share (Rs.) (subsequent to split) - Basic 4.092.19- Diluted 4.072.1913 Aggregate of Public Shareholding - Number of Shares 20,089,73212,017,856- Percentage of shareholding 59.0269.6514 Promoters and promoter group Shareholding a) Pledged/Encumbered - Number of shares -333,000- Percentage of shares (as a % of the total shareholding of promoter and promoter group) -6.36- Percentage of shares (as a% of the total share capital of the company) -1.93b) Non-encumbered - Number of shares 13,948,7904,904,972- Percentage of shares (as a % of the total shareholding of promoter and promoter group) 10093.64- Percentage of shares (as a% of the total share capital of the company) 40.9828.42The Company is engaged mainly in the business of gold loans, hypothecations loans and fee based activities. The segment wise disclosures are given below: Particulars Year ended March 31, 2010 (Audited) Year ended March 31, 2009 (Audited) 1. Segment Revenue (a) Gold loan and other loans 46,505.1014,874.90(b) Asset Finance 944.101,428.20(c) Fee Based activities 246.50199.30(d) Unallocated 124.40108.70Net sales/Income From Operations 47,820.1016,611.102. Segment Results (a) Gold loan and other loans 19,264.306,237.40(b) Asset Finance (540.80)(881.60)(c) Fee Based activities 189.40160.40(d) Unallocated (730.30)(887.90)Total Profit Before Tax 18,182.604,628.303. Capital Employed (a) Gold loan and other loans 48,746.6015,059.80(b) Asset Finance 220.502,231.20(c) Fee Based activities -0.10(d) Unallocated 12,088.90(503.90)Total 61,056.0016,787.20Statement of Assets and Liabilities for the year ended March 31, 2010 Particulars Year ended March 31, 2010 (Audited) Year ended March 31, 2009 (Audited) SOURCE OF FUNDS SHAREHOLDERS' FUNDS (a) Capital (including warrants) 3,403.902,425.40(b) Reserves and Surplus 57,652.1014,361.90LOAN FUNDS 183,566.2045,057.90Total 244,622.2061,845.20APPLICATION OF FUNDS FIXED ASSETS (INCLUDING INTANGIBLES) 5,689.502,803.70DEFERRED TAX ASSET (NET) 333.50135.90INVESTMENTS 14,067.00107.70 vCURRENT ASSETS, LOANS AND ADVANCES Cash and bank balances 26,820.8011,339.60Other current assets 18,788.806,759.10Loans and advances 189,071.3044,860.40LESS: CURRENT LIABILITIES AND PROVISIONS Current liabilities (8,102.80)(3,479.70)Provisions (2,045.90)(681.50)Total 244,622.2061,845.20Notes: 1 The above audited results and statement of assets and liabilities have been reviewed by the Audit Committee and approved by the Board of Directors in the meeting held on May 11, 2010. 2 The Company had entered into a Scheme of Amalgamation (‘Scheme’) with Manappuram Finance (Tamil Nadu) Limited ("MAFIT") for the amalgamation of MAFIT with the Company effective April 1, 2008 (‘Appointed Date’). The scheme was approved by the Hon’ble High Court of Judicature at Madras on December 8, 2009, and Hon’ble High Court of Judicature at Kerala on December 23, 2009. Pursuant to order of the Hon’ble High Court and consequent filing thereof with the Registrar of Companies, Coimbatore on December 23, 2009 and Registrar of Companies, Kerala on January 7, 2010, MAFIT has been amalgamated with the Company and stands dissolved without being wound up. The amalgmation is in the nature of merger and accordingly, has been accounted under "pooling of interest method" as per Accounting Standard - 14 'Accounting for Amalgamations'. Accordingly, the results for the year ended March 31, 2010 include transactions of MAFIT. Hence, the results of the current year are not strictly comparable with the previous year. 3 During the current year the Company has acquired the entire assets and liabilities of Manappuram Printers, a sole proprietorship from its promoter, which was engaged in the business of trading stationery items for a total consideration of Rs 101.7 lakhs with effect from April 1, 2009. 4 During the current year, the Company has issued 3,540,420 shares to certain QIBs by way of a private placement at a price of Rs 691/- per share at a premium of Rs 681/- per share. The issues of these shares are for the purposes of augmenting the funding needs of the Company and to meet capital adequacy norms. The Company raised a total amount of Rs 24,464.3 lakhs from these QIBs and incurred an amount of Rs 761 lakhs as share issues expenses which has been set off against the share premium account. 5 The Company had allotted 200,000 7.5% redeemable preference shares of Rs. 100 each fully paid up on September 11, 2004 and 200,000 7.5% redeemable preference shares of Rs. 100 each fully paid up on September 30, 2004 redeemable after seven years. The shareholders had a right to early redemption but not earlier than 2 years from the date of allotment. During the current year, the shareholders have exercised their right of early redemption and redeemed the shares on March 18, 2010. 6 The Company did not have any unresolved investor complaints as at the beginning / end of the year. During the year, the Company had received and resolved 10 investor complaints. 7 The shareholders of the Company have on April 22, 2010 through a resolution, approved the sub-division of one fully paid equity share of Rs 10/- each of the Company into five equity shares of Rs 2/- each fully paid pursuant to Section 94 of the Act. Further, the shareholders of the Company have through a resolution passed on April 22, 2010 approved the issuance of equity shares of Rs 2/-each, fully paid up, as bonus shares (after considering the stock split as above) in the ratio of 1:1 to the shareholders existing as on the record date. These changes will be given effect to in the following year except for the changes in the Earnings Per Share. As per the requirements of paragraph 44 read with paragraph 24 of Accounting Standard 20 – ‘Earnings per share’ (AS-20), the number of equity shares outstanding as at March 31, 2010 has been adjusted for the amount of such bonus shares and sub-divided shares in the computation of the weighted average number of shares for the computation of EPS for all periods presented.
8 The Board of Directors have proposed a final dividend of Rs 2.5 per equity share (Face value - Rs 10) (before split) and Rs 0.50 per equity share (Face value - Rs 2) (after split) to be approved by the shareholders at the annual general
meeting.9 Figures of previous year have been regrouped / reclassified, wherever necessary. By order of the Board Place : Valapad V.P.Nandakumar Date : July 31, 2009 11-May-10 Executive Chairman
