SUNDARAM FINANCE LIMITED
Article Abstract:
According to the speech delivered by Mr T S Santhanam, Chairman of Sundaram Finance Limited (SFL) of Chennai at the company's 45th annual general meeting, the gross deposit mobilisation in 1997-98 was Rs386 crore. Of this, fresh deposits accounted for Rs175 crore and renewed deposits Rs211 crore. SFL's deposit programme has been assigned the FAAA rating by Crisil. In June 1998, ICRA gave it the rating of MAAA. The total disbursements of SFL in leasing business and hire purchase declined by 8 percent to Rs956 crore in 1997-98 (Rs 1,041 crore in 1996-97) and the cumulative receivables rose by 5 percent to Rs2,102 crore (Rs2,010 crore). Its profit before depreciation and tax rose by 15.51 percent to Rs177.52 crore (Rs153.68 crore). Its net profit increased by 11.53 percent to Rs76.59 crore (Rs68.67 crore). SFL has proposed a dividend of 55 percent (45 percent) on a paid-up capital of Rs24 crore. Its net worth was Rs347 crore. Its standard assets were 96.42 percent. Its capital adequacy ratio was 19.64 percent. (gsh)
Comment:
Posts gross deposit mobilization in 1997-98 of Rs386 crore & fresh deposits account for Rs175 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICRA ASSIGNS MAAA TO SUNDARAM FIN DEBENTURE
Article Abstract:
Investment Information and Credit Rating Agency (ICRA) has assigned MAAA rating to the Rs150 crore debenture programme and LAAA rating for the Rs50 crore debenture programme of Sundaram Finance Ltd. The ratings indicate highest safety. ICRA has stated that the company is the market leader in the non banking finance segment. (rk)(vr)
Comment:
Investment Information and Credit Rating Agency (ICRA) has assigned MAAA rating to the Rs150 crore debenture programme and LAAA rating for the Rs50 crore debenture programme of Sundaram Finance Ltd.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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