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ELECTRONICA FINANCE LIMITED
Sector Focus
Diversified NBFC
Highest Credit Rating
A (Stable) by INDIA RATING AND RESEARCH PVT. LTD
Jan 18, 2024
Yield
Request for Quote
Coupon
13.0000 % p.a
Rating
A (Stable)
ISIN
INE612U08041
Maturity Date
28 Jun, 2029
Key Strengths
Adequate Fund Capitalisation
Compulsorily convertible preference shares(CCPS) subscribed by Encourage Capital, a New York-based impact investor. On conversion of the CCPS ofINR1.07 billion, Encourage Capital’s holding would be around 22% in EFL.
Expertise in Machine Financing; Business Diversification Underway
EFL has a vintage of around 3 decades in the machine equipment financing segment, backed by promoter’s experience of over 5 decades in the manufacturing & trading of machine equipment. EFL’s franchise has been evolving through aggressively expanding the number of its branches (1HFY24: 199; FYE23: 175; FYE21: 65; FYE19: 32). EFL has a presence in 15 states with over 50% portfolio concentrated in Maharashtra, Gujarat and Tamil Nadu as of end-September 2023.
Established Underwriting Systems and Processes
EFL has formulated strategies to protect itself from losses resulting from borrower defaults. Some of the strategies include financing standardized machines and maintaining exclusive charge on machines. Machine Financing are largely backed by 25% cash collateral or through borrower’s equity contribution in the purchase, which act as a buffer.
Performance of Micro LAP Book Monitorable; Well-Managed Asset Quality
EFL managed its asset quality with a collection efficiency of 86%-94% during FY23-1HFY24. Consequently, its gross non-performing assets (NPAs) reduced to 1.08% (including impact of the Reserve Bank of India’s 12 November 2021 circular) at FYE23 (FYE22: 2.56%; FYE21: 2.83%; FYE20: 2.85%)
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Note:
The listing of products above should not be considered an endorsement or recommendation to invest. Please use your own discretion before you transact. The listed products and their price or yield are subject to availability and market cutoff times. Pursuant to the provisions of Section 193 of Income Tax Act, 1961, as amended, with effect from, 1st April 2023, TDS will be deducted @ 10% on any interest payable on any security issued by a company (i.e. securities other than securities issued by the Central Government or a State Government).
Note: The listing of products above should not be considered an endorsement or recommendation to invest. Please use your own discretion before you transact. The listed products and their price or yield are subject to availability and market cutoff times. Pursuant to the provisions of Section 193 of Income Tax Act, 1961, as amended, with effect from, 1st April 2023, TDS will be deducted @ 10% on any interest payable on any security issued by a company (i.e. securities other than securities issued by the Central Government or a State Government).
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India Bond Private Limited
CIN: U67100MH2008PTC178990
SEBI Registration No.: INZ000311637
NSE Member ID - Debt Segment: 90316
BSE Member ID - Debt Segment: 6811
CIN: U67100MH2008PTC178990
SEBI Registration No.: INZ000311637
NSE Member ID - Debt Segment: 90316
BSE Member ID - Debt Segment: 6811
Registered Address: 605, 6th Floor, Windsor, Off CST Road, Kalina, Santacruz - (East), Mumbai – 400 098.
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