his explanation for the same
This a part of RPT of Manappuram with its subsidiaries. I find Interest income is very less on loans given to subsidiaries although company mention below that it is charging interest rate of 12% to 13% to them.
Anybody pls clarify.
Well done Suranjit
Manappuram Home Finance
0.07 = (245 x 1%) / 35 implies interest for less than one day - a THEORETICAL impossibility
0.17 = (140 x1%) / 8 implies interest for 3.6 days
at 12% p.a. or 1% per month
19.73 = (750 x 1%) / 4 implies interest for 7.5 days
Are these just “ACCOMODATION TRANSACTIONS” to comply with RBI Regulations for Quarterly reporting
like you said concessional rate
In PRINCIPLE wrong, although at consolidated level immaterial as Asirvad is 98-99% owned and Home Finance 100%
In short term provision they have provision for other assets of 196.59(2018) an 34(2017). what are these provisions for? The difference of 162.59(196.59-34) got expensed in P&L statement as other expenses along with both standard and NPA provisions.
I understand that provision for standard assets and provision for NPA cover their provisions for whole portfolio.
So what is this other assets they need to create provisions for. Is it for any regulatory compliance or something else? what I am missing here?
isnt this a very old article 2016?
Some Diwali fireworks!! Checkout the results
Disclosure: Invested and added during the recent carnage.
Happy Diwali to one and all!
Do anyone have an update on the CFO? Mr. Kapil is no more a part of investor meets and his name is removed from the list of key managerial personnel.
The news announcement came along with last quarter results but he was supposed to continue with the company until a new CFO is identified. I was looking for an update on identification and appointment of new CFO - the role of CFO is one among the most critical management responsibility for any company considering we as investors trust and rely on him along with his team to report numbers which are reliable. Any delay in replacement of CFO would be a significant risk that all of us here will have to price in sooner than later. Hopeful of this being done soon considering companies act(section 203(4)) makes it mandatory to replace the incumbent within a period of 6 months from the date of vacancy.
There is a RPT capital infusion planned, waiting for more details to emerge. Its both in Home finance and in Asirvad Microfinance
MFS’s debt issue is fully subscribed for the minimum amount of 200cr now let’s see if they could garner 1000cr by 22st Nov.
Not sure what’s this about and almost 5% drop today
May be due to the sensex which cracked today
Regulation 29(1)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), we wish to inform you that the meeting of the Financial Resources and Management Committee of the Board of Directors of the Company will be held on Tuesday, December 11, 2018 inter- alia to consider and approve the issuance of the Private Placement of Unrated, Unlisted, Secured, Redeemable Non-Convertible Debentures.
May because they could not raise the required amount from their public ncd, hence going for private route for raising funds
Probably it fell showing sympathy with Muthoot after it reported average set of standalone Q2 nos. I think Manappuram should show out performance now after blowout set of Q2 nos.