Archive: October 30, 2021

Cholamandalam Investment and Finance Company Limited (CIFCL) Unaudited Financial Results for the Quarter and Half Year Ended 30th September 2021

Key Financial Results (Q2 & H1 FY22):

• Disbursements at ₹ 8,706 Cr for the quarter (Up by 35%) and ₹ 12,341 Cr for the half year (Up by 23% YoY)
• Total AUM at ₹ 75,063 Cr was marginally higher than H1 FY21
• Net Income Margin up at ₹ 1,393 Cr for the quarter (Up 11% YoY) and ₹ 2,756 Cr for the half year (Up 23% YoY)
• PAT at ₹ 607 Cr for the quarter (Up 40% YoY) and ₹ 933 Cr for the half year (Up by 8% YoY)

Chennai, OCTOBER 29, 2021: The Board of Directors of CIFCL today announced the unaudited financial results for the quarter and half year ended 30th September 2021.

Highlights:

The last quarter had several positives (i) the waning of second wave (ii) India outpacing other countries in terms of increased vaccination drive and (iii) A good monsoon. These events have led to expectations of a swift revival of Indian economy.

These expectations have been supported by uptrend in economic indicators like tax collections, power consumption, vehicle registrations, highway toll collection and e-way bills. This economic revival has led to a sharp recovery in Chola’s disbursements and collections during Q2 FY22.

We continue to hold Management and additional overlay provisions at 700 Cr. Apart from this, we have created 10% additional provision for all restructured accounts as per RBI guidelines.

Performance Highlights:

• Aggregate disbursements in Q2 FY 22 were at ₹ 8,706 Cr as against ₹ 6,457 Cr in Q2 FY 21 with a growth of 35%. Disbursements in H1 FY 22 were at ₹ 12,341 Cr as against ₹ 10,046 Cr registering the growth of 23% Y-on-Y.
• Vehicle Finance (VF) disbursements were at ₹ 6,161 Cr in Q2 FY 22 as against ₹ 4,781 Cr in Q2 FY21, growth of 29%. Disbursements in H1 FY 22, were at ₹ 9,007 Cr as against ₹ 8,012 Cr in the previous year, reporting a growth of 12% Y-o-Y.
• Loan Against Property (LAP) business disbursed ₹ 1,736 Cr in Q2 FY 22, as against ₹ 1,052 Cr in Q2 FY 21, with a good growth rate of 65%. The Disbursements in H1 FY 22 were at ₹ 2,122 Cr as against ₹ 1,171 Cr in the previous year, registering a good growth rate of 81% Y-o-Y.
• Home Loan (HL) business disbursed ₹ 494 Cr in Q2 FY 22, as against ₹ 381 Cr in Q2 FY 21. The Disbursements in H1 FY 22 were at ₹ 693 Cr as against ₹ 571 Cr in the previous year, registering a growth of 21% Y-o-Y.
• Assets under management as of 30th Sep 2021, stood at ₹ 75,063 Cr as compared to ₹ 74,471 Cr as of end Sep in FY21.
• Profits after Tax (PAT) for Q2 FY 22 were at ₹ 607 Cr compared to ₹ 432 Cr in Q2 FY 21, reporting a growth of 40%. PAT for H1 FY 22, were at ₹ 933 Cr as against ₹ 863 Cr in the same period last year registering a growth of 8%.
• PBT-ROA for Q2 FY 22 was at 4.5% and for the half year was at 3.5% as against 3.4% in half year of FY21.
• ROE for the H1 FY 22 was at 18.7 % as against 20.0% in previous year.
• The Company continues to hold a strong liquidity position with ₹ 5,401 Cr as cash balance as at end of September 21 (including Rs 1500 Cr invested in Gsec shown under investments), with a total liquidity position of ₹ 9,800 Cr (including undrawn sanctioned lines). The ALM is comfortable with no negative cumulative mismatches across all time buckets.

Asset Quality

CIFCL asset quality as at end of September 2021, represented by Stage 3 assets stood at 6.16% with a provision coverage of 36.45%, as against 6.79% as at end of June 2021 with a provision coverage of 35.51%. The total provisions currently carried against the overall book is 4.09% as against the normal overall provision levels of 1.75% carried prior to the Covid-19 pandemic, representing more than twice the normal pre-covid provision coverage level.

Total restructuring Book (1.0 & 2.0) stood at ₹ 4,749 Cr as on September 2021 representing 6.85% of the total Book in Stage 2. Restructuring 1.0 and Restructuring 2.0 stood at 1.27% and 5.58% respectively as on September 2021.

Note: Sep-20 and Dec-20 numbers are before considering Supreme Court Interim orders, which had directed the accounts which were not declared NPA till 31-Aug-2020 shall not be declared as NPA till further orders. This is done to facilitate comparative numbers. The interim order granted stands vacated on March 23 and hence company has continued with the asset classification as per ECL model under INDAS for the quarter and year ended 31st March 2021.

Considering the Supreme Court Interim orders directions Stage 3 % for Sep-20 and Dec-20 works out to 2.75% and 2.57% respectively.

Capital Adequacy:

The Capital Adequacy Ratio (CAR) of the company as on 30th September 2021, was at 19.63% as against the regulatory requirement of 15%. Tier-I Capital was at 16.67%.

Equity Investment in Paytail:

In Current quarter Q2-FY22, we have made an investment of ₹ 9.75 Cr in Paytail commerce Private Limited for a holding of 16.29%.

‘Pride of Telangana Awards 2021’ to be presented to unsung heroes’, for bringing about a silent revolution in the community!

Hyderabad, 30^th October 2021: Round Table India, will present “Pride of Telangana”, for the third time, the earlier Awards were presented in 2018 and 2019 and took a break in 2020 due to pandemic. Pride of Telangana is a unique initiative to honour the achievers and felicitate the emerging personalities in the state of Telangana. As part of the prestigious awards, Round Table identifies and honours the unsung heroes who are instrumental in bringing about a silent revolution, as they make the community and society rich through their stupendous contribution. The details of the Awards categories were announced by the committee of ROUND TABLE INDIA, today at Novotel HICC.

We are overwhelmed and grateful to have a high powered Panel of Judges from diverse backgrounds who have excelled and created a mark in the society at large. The Judges will be shortlisting the award applicants, says Mr Ishan Agarwal, Table Chairman, Round Table India.

The high powered panel of judges comprises of :

1. Mr. Jayesh Ranjan, Principal Secretary, I & C and IT, Telangana;
2. Dr G.V. Rao, Director, AIG Hospitals
3. Mrs. Kamini Saraf, Fashion entrepreneur, Past chairperson Hyderabad FICCI FLO.
4. Mrs. Lakshmi Manchu, Actress
5. Mr. Manish Bhartiya, Director, Ratnadeep Retail
6. Mr. Boyapati Mahender Reddy, Chief Executive Officer, St. Mary’s Institutions

Advisory Board Members

1. Mr. Yashwant Jhabakh, Founder & Chairman – Mahavir Group
2. Mr. Sandeep Agarwal, Managing Director, Ratnadeep Retail

The Grand Awards ceremony is slated for the 26^th of November, 2021.

Round Table India has always emphasised on the fact that education is a greatest enabler and helps individual to achieve their dreams. To fulfil this aspiration, Round Table India will contribute the entire proceeds from this event towards improving the infrastructure in the government schools and towards welfare of children from underprivileged sections, says Mr Chaitanya Dev Singh, Area Chairman, Round Table India. As before, The Categories for the 2021 Awards have been curated with great care and thought process. The Thirteen categories for which Awards will be presented are Sports, Special Award for Women, NGO, Retail, Film Artist, SME, Administrative Services, Food & Beverage, Medical, Start-ups, Arts & Culture, Education, Inner Wellness.

Each category will have two awards, one for the accomplisher, the ‘Achiever Award’ and the other for the most promising talent in the field, the ‘Emerging Award.’ Individuals or Organisations who achieved name and fame in their respective fields and are a role model to budding aspirants in the category, will be eligible for the Achiever Awards. The Emerging Award is an attempt to identify and recognise the budding aspirants for their achievements and contribution in their respective fields. Decisions taken by the board of Jury members will be final.

The aspiring candidates, who satisfy the criteria in their respective categories, can apply for the award or recommend worthy candidates they know off. The nominations, should be filled online at www.prideoftelangana.com or, be mailed to info@prideoftelangana.com with appropriate supporting documents, on or before 9th of November, 2021. Interested aspirants may visit www.prideoftelangana.com, for more information. From amongst the shortlisted nominees, who satisfy the criteria, the jury members will select the top 3 in each category and finalise the most deserving amongst them.

We welcome all residents of Telangana to apply for the nomination themselves and encourage their friends and family to apply. These awards will provide immense publicity the good work done by these unsung heroes. The last day of nominations is 9^th of November 2021.

About Pride of Telangana Awards

In the 2018 edition, The Pride of Telangana website was opened for nominations across 12 categories. The response was excellent.  Three hundred and twenty six nominations were received. The site was then opened to public voting. Thirty three thousand three hundred and twenty three votes were received. The public had voted for a winner in each of the 12 categories.

In the 2019 edition, The Pride of Telangana website was opened for nominations across 12 categories. The response was marvellous.  Three hundred and ten nominations were received. The site was then opened to public voting. Thirty thousand six hundred and seventy five votes were received. The public had voted for a winner in each of the 12 categories.

About Round Table

The Round Table is internationally, a friendship organization, founded in Norwich, England by Louis Marchesi, then a Rotarian in 1927. From a small group of 8 members, today it has grown to over 43,000 members across 52 countries representing every corner of the world. Round Table came to India in 1957 with the formation of Madras Round Table No 1 on November 14^th 1962, by John Barton. Over the past four decades it has grown to become a 4,000-member strong association.

Round Table India (RTI) has around over 324 Tables located over 105 cities and towns, comprising of businessmen, entrepreneurs, technocrats and professionals, men who can rise above personal concerns to seek and serve the larger needs of the community. Since 1997 RTI, under “Freedom through Education“, has built over 7505 class rooms in 3149 School projects at an outlay of over 317 crores, impacting the education of over 7.9 million children.

On the administration front, Round Table India has a very active National Board, which guides the affairs of the association. Round Table India is divided into 16 Areas, which have their own Area Board to administer them. The National Secretariat, the hub of all activities of Round Table India, is located in Chennai.

Round Table India, is a zero overheads organization. Meaning, every rupee of funds raised goes towards our charitable goals. Our National goal is to ‘Build Schools for the Underprivileged’. Round Table is currently building a multiple classroom block with multipurpose sports area and 100 seater gallery at Pinjerla Village, near Shamshabad.

Blue Dart announces Q2 results with new all-time highs for revenue and earnings

Mumbai/ Hyderabad, October 29, 2021: Blue Dart Express Limited, South Asia’s premier express air and integrated transportation & Distribution Company, declared its financial results today for the quarter ended September 30 2021, at its Board Meeting held in Mumbai today.

The company posted ₹895 million profit after tax (previous year corresponding quarter was at ₹414 million) for the quarter ended September 30, 2021; Revenue from operations for the quarter ended September 30, 2021 stood at ₹11,236 million. Revenue from operations for the half year ended September 30, 2021 stood at ₹19,884 million and profit after tax at ₹1,189 million.

Performance Highlights: Q2 FY2122 vs. Q2 FY2021

Performance Highlights: H1 FY2122 vs. H1 FY2021

Balfour Manuel, Managing Director, Blue Dart says, “The company witnessed strong pull back in demand during the quarter as wave II of pandemic started slowing down. All economic indicators like GDP growth, Index for Industrial Production, GST collections, etc. reflected strong recovery. Growth during the quarter is testimony to heightened business activities of key industrial verticals.”

Revenues during the quarter stood at ₹11,236 Mn with a growth of 30% over previous year same quarter, sequentially quarter revenue growth is at 30%. EBITDA for the quarter is ₹1,690 Mn, a growth of 46.6% over last year. EBITDA margin was also improved to 14.96% as compared to previous year at 13.31%. Revenues for the half year stood at ₹19,884 Mn with growth of 55% over previous year. EBITDA at ₹2,582 Mn which was negative ₹7 Mn last year. Consolidated EBITDA margin for the quarter stood at 22%. Healthy top-line growth with better realization, continued cost efficiency program and financial re-engineering helped the company to improve its margin. The company together with its wholly owned subsidiary paid off majority of bank borrowings during the quarter which would help company in reducing its finance cost. Recently, Blue Dart Aviation purchased one more leased aircraft in its pursuit of improving efficiency to create value for stakeholders.

Pandemic during last quarter created unprecedented situation in the Country. Without much bothering about adverse situation, Blue Darters played vital role in reaching medicines, testing equipment and other emergency material which was highly appreciated by the customers. To appreciate their efforts, the company has proposed a token ex-gratia payment of €300 equivalent in rupee term to all employees except senior management. A cost of ₹359.50 million towards ex-gratia has been recognised in the current quarter financials as exceptional item.

During the quarter, the Company successfully launched the Blue Dart Med-Express Consortium, which leverages the use of drone technology to provide a robust healthcare infrastructure to the interiors of the nation.

The organisation’s commitments to being a ‘Great Company to Work for’ All and a ‘Highly Trusted Company’ focusing on Diversity & Inclusion remains unfaltering. Blue Dart has always believed in providing equal employment opportunities to all those who are willing to contribute towards the brand’s success. Company is working on sustainable solutions to reduce carbon emission including deploying electrical vehicles, reducing paper consumption, green facilities etc. The company has also planted over 555,000 trees to offset carbon footprint. Blue Dart is committed to its highest standard of compliance under its ESG journey.

Exceptional Service Quality remains one of the organization’s major pivots alongside automation and technology, providing customers a one-stop, hassle-free solution to all their logistics requirements. In its journey to delight customers, the company carried 116.25 million shipments weighing 422,933 tons during the half year ended September 30, 2021.

Government’s focus on improving infrastructure like constructions of new roads including dedicated corridors, logistics parks, economic zones, dedicated rail corridors, waterways is expected to smoothen movement of goods. Further, schemes like “Make in India” “Atmanirbhar Bharat” extension of PLI scheme to various sectors is likely to give boost to economic activities. Strong vaccination drive by the Government is also expected to improve pandemic situation. All these initiatives are expected to boost overall economic scenario in the Country. Blue Dart with its air and ground infrastructure, passionate Blue Darters and world class service delivery experience is well poised to encash the opportunity sustainably.

PNB Pledges its Commitment to Integrity & Transparency at Wagha Border Observing Vigilance Awareness Week

Hyderabad: October 30, 2021: Observing Vigilance Awareness Week, Shri Vijay Kumar Tyagi – Chief Vigilance Officer of Punjab National Bank (PNB) administered integrity pledge to more than 5000 people with the Bank’s employees at Wagha Border, Amritsar.

In line with the directives of the Hon’ble Central Vigilance Commission (CVC) and commemorating the birth anniversary of Sardar Vallabh Bhai Patel on 31st October 2021, PNB is celebrating Vigilance Awareness Week (VAW) from 26th October to 1st November 2021. The theme of this year’s Vigilance Awareness Week is Independent India @ 75: Self Reliance with Integrity / स्वतंत्र भारत @ 75: सत्यनिष्ठा से आत्मनिर्भरता.

PNB has taken various initiatives in the recent past to inculcate a sense of honesty and integrity among the employees and to control the internal systems making them more transparent. This includes launching the Tracking and Monitoring of Staff Accountability Cases portal (TMSAC) to track accountability on a real-time basis.

In a recently published annual report and the booklet on Preventive Vigilance, the Central Vigilance Commission highlighted the initiatives of PNB with photographs and articles, which is a proud moment and truly remarkable feat for the Bank.

Profitable Fintech, Fino Payments Bank’s IPO sees positive response from retail investors; Issue subscribed 51% on Day 1

Mumbai, October 29th, 2021: Fino Payments Bank Limited (“Company”); one of the growing fintech companies offering a diverse range of financial products and services that are primarily digital and have a payments focus, received bids of 58,13,975 shares against the offered 1,14,64,664 equity shares, as per the 5:00 pm data available on the bourses.

The portion reserved for retail investors was subscribed 2.73 times and the Non-Institutional Investor category was subscribed 0.05 times and Employee Reserved category was subscribed 0.25 times, while the Qualified Institutional Buyer category didn’t see any response on Day 1.

The Offer comprises of a fresh issuance of equity shares aggregating up to Rs 300 Cr (“Fresh Issue”) and an offer for sale of up to 15,602,999 equity shares by selling shareholders. The Company proposes to utilize the net proceeds from the fresh issue towards augmenting the bank’s tier-1 capital base to meet its future capital requirements.

The Company raised Rs. 538 crore from 29 anchor investors. As per the exchange, the investors includes Fidelity, HSBC Global, Pinebridge, Birla Mutual Fund, Motilal Oswal, TATA Mutual Fund, SBI Life, Invesco, BNP Paribas and Societe Generale.

Axis Capital Ltd, CLSA India Pvt Ltd, ICICI Securities Ltd, and Nomura Financial Advisory Services Pvt Ltd are the Book Running Lead Managers to the Offer

Company Information

Fino Payments Bank is a fully owned subsidiary of Fino Paytech which had last raised funds in 2016. Fino Paytech is backed by marquee investors like Bharat Petroleum, ICICI group, Blackstone, IFC, Intel and LIC among others. Frugal innovation is the key that has given the fintech a leadership position at the middle of the pyramid that primarily constitutes emerging India customers. It enjoyed a 55% market share in micro-ATMs in FY21.

Play “WITH LOVE, AAP KI SAIYAARA” written and directed by Juuhi Babbar Sonii

Ekjute Theatre Group along with writer & director Juuhi Babbar Sonii comes with the new play ” WITH LOVE, AAP KI SAIYAARA, in Mumbai on 29th October 2021 at 8 pm and 30th, 31st October 2021 (2) shows 5 pm & 8 pm. The play is inspired by a character conceived by Nadira Zaheer Babbar.

‘With Love, Aap ki Saiyaara’ is the story of a passionate, urban and undaunted woman. Through the eyes of a modern Indian woman, Saiyaara dares to dream. She dips into her various emotions, explores her own identity, and emerges. This play explores the episode of a modern woman about her dream and challenges. Written and performed in form of anecdotes. This play works as a bridge between the present and connects with today’s woman.

Actress Juuhi Babbar Sonii, says, “Theatre to me is the foundation of all aspects pertaining to the crafts of acting & direction. I have grown up with theatre and theatre artists and actors. After 9 years, coming with a new play is an exhilarating decision because theatre is my deepest passion. The play tells us of a modern woman Saiyaara and her various emotions. Her dreams, challenges, and life can be connected to the common present urban woman.”

“I am also a woman, mom, wife, and also I have my career. We have to balance every situation and face many challenges, work hard towards our dream. I am sure everyone will feel connected to the play and everyone will feel Saiyaara at one moment. It’s a new age Saiyaara. I absolutely loved this character. The story is very close to my heart” she adds.

Date of the show: 29th October 2021 (Friday) 8 pm,

30th, 31st October 2021 ( Saturday and Sunday)- 5 pm and 8 pm

Venue: Prithvi Theatre, Juhu.

For booking: https://bit.ly/3FXvdNm

Scientology Information Center Shares Inspiration and Stories of Hope for the Clearwater Community

Clearwater, FL – Since July 2020, the Scientology Information Center in downtown Clearwater has been sharing examples of success and positivity to combat hate and strife in the world.

“These days, when you turn on main stream media or the nightly news, chances are you are going to hear about a break in, a car accident or a murder,” said Amber Skjelset, Manager of the Scientology Information Center. “It can be depressing or put one in fear. Rarely does one ever hear ‘good news.’”

In contrast, combatting negativity and the chaos in the world, the Scientology Information Center, located in the heart of downtown Clearwater, is filling that void by sharing positive stories and programs from the Scientology Network, DirecTV Channel 320 or Scientology.tv every Sunday at 3:30pm since July this year.

The Scientology Network, launched in March 2018, gives an unprecedented look at the Churches of Scientology around the world, Scientologists and the impact of the world’s youngest major religion. Its all-original series include:

L. Ron Hubbard in His Own Voice, Inside Scientology, Destination: Scientology, Meet a Scientologist, Voices for Humanity and more.

“Programs such as Meet a Scientologist celebrate examples of people who come from different corners of the world, have different backgrounds and interests – but they are all Scientologists. These people share their stories of “staying the course” despite the ups and downs and how Scientology contributed to their success.

The most recent presentation was held on October 17th highlighting the episode of Mr. Jim Johnson, owner of Mr. Jim’s Pizza, from the series Meet a Scientologist. One guest, Lawrence, had this to say after watching it, “I like the fact that Mr. Jim never gave up. He failed in some areas but he stayed the course. These programs helped me understand better the concept of ‘staying the course.’”

For more information on in-person showings of the Scientology Network at the Scientology Information Center, please contact Amber Skjelset, Center Manager at 727-467-6966 or email centermanager@cos.flag.org.

To take a self-guided tour of the Information Center anyone can stop by: Saturday 2pm-7pm and Sunday – Friday 10:30am-1pm and 2pm-7pm. No appointment is necessary.

The Scientology Information Center is located at 500 Cleveland Street in downtown Clearwater.

For more information on Scientology, visit www.scientology.org or the Scientology Network on DirecTV channel 320, or streaming at www.scientology.tv or apps at AppleTV, FireTV and ROKU.

THE SCIENTOLOGY INFORMATION CENTER:

The Scientology Information Center, located in the century-old Clearwater Building in downtown Clearwater, opened on July 11, 2015, and currently houses a gallery of audiovisual displays with some 400 videos. The Center is open to all and provides a self-guided tour showing basic Scientology beliefs, Churches around the world, ongoing social programs and the life of L. Ron Hubbard, Scientology’s founder. The Center offers tours to the broad public; and opens up the use of its conference room to social, civic and non-profit groups.

Photo caption: On Sunday the 17th of October, community guests viewed the episode of Mr. Jim of Meet a Scientologist at the Scientology Information Center in downtown Clearwater.