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Company Overview
Incorporation: Fincare Business Services Limited was incorporated on August 5, 2014, as a Private Limited Company with its Registered Office at Bengaluru, Karnataka.
Transition: In 2016, Fincare Business Service Limited was converted into a Public Limited Company and transitioned to a Non-Deposit taking Systematically Important-Core Investment Company (CIC-ND-SI) vide RBI Certificate of Registration dated February 2, 2017.
Business Model and Objectives
| Category | Details |
|---|---|
| Digital-First Approach | Focus on unbanked and under-banked customers, particularly in rural and semi-urban areas. |
| Financial Inclusion | Provide affordable financial products and services to individuals and businesses. |
| Leveraging Technology | Use technology and last-mile distribution to reach rural areas effectively. |
Financial Performance
| Metric | Details |
|---|---|
| Growth Metrics | Highest growth rate in advances among comparable SFB peers in India (FY2018-FY2020). |
| Profitability | Best adjusted ROA and ROE among SFBs in FY2020. Profitable even during the COVID-19 pandemic. |
| Loan Portfolio Growth | GLP grew from ₹2154 Cr to ₹5547 Cr, CAGR of 41.05% (March 31, 2018 to December 31, 2020). |
| Customer Base | Reached 2.7 million customers as of December 31, 2020. 92% in rural areas, 40% new to credit. |
Background and Experience
| Metric | Details |
|---|---|
| Microfinance Operations | Over 14 years of experience with a deep understanding of unbanked and under-banked rural customers. |
| Evolution | Started as Disha Microfin Limited (2010), NBFC-MFI (2013), acquired FFSPL (2016), became Fincare SFB. |
Asset Quality and Capital Position
| Metric | Details |
|---|---|
| NPA Situation | GNPA Ratio of 0.92%, NNPA Ratio of 0.41% in FY2020, indicating strong asset quality. |
| Capital Position | PCR of 74.82%, Tier 1 Capital Ratio of 25.22%, Tier II Capital Ratio of 4.68% as of December 31, 2020. |
Loan Book Profile
| Metric | Details |
|---|---|
| Portfolio Composition | Micro-loans constitute 79.50% of the Gross Loan Portfolio as of December 31, 2020. |
| Customer Profile | Predominantly women from low-income rural households, often new to credit. |
Fundamentals
Fundamentals
| Metric | Value | Metric | Value |
|---|---|---|---|
| Current Price | ₹ 98 | P/B | 2.63 |
| Debt to Equity | 3.08 | P/E Ratio | 39.52 |
| Market Cap (in Cr.) | ₹ 3234 | PAN Number | AACCF4303J |
| Face Value | 1 | EPS | 6.66 |
| Book Value | 37.33 | ISIN | INE957R01025 |
| ROE (%) | 6.66 | No. Of Shares (in Cr.) | 33 |
Promoters & Managements
Profit & Loss Statement
| Item | 2022 | 2023 |
|---|---|---|
| Interest Earned | 1704 | 1886 |
| Other Income | 4 | 10 |
| Interest Expended | 580 | 666 |
| Operating Expenses | 644 | 835 |
| Provisions and Contingencies | 528 | 251 |
| PAT | -29 | 82 |
| EPS | -0.88 | 2.48 |
| Gross NPA | 0 | 3.9 |
| Net NPA | 0 | 1.1 |
Financial Ratios (2022-2023)
| Ratio | 2022 | 2023 |
|---|---|---|
| Advances | 6996 | 9530 |
| Book Value | 26.21 | 37.33 |
| P / B | 2.48 | 1.74 |
| ROE (%) | -3.35 | 6.66 |
Assets (2022-2023)
| Asset Category | 2022 | 2023 |
|---|---|---|
| Fixed Assets | 104 | 147 |
| Cash and Balances | 1236 | 773 |
| Investments | 2119 | 2560 |
| Advances | 6996 | 9530 |
| Other Assets | 594 | 541 |
| Total Assets | 11049 | 13551 |
Liabilities (2022-2023)
| Liability Category | 2022 | 2023 |
|---|---|---|
| Share Capital | 33 | 33 |
| FV | 1 | 1 |
| Reserves | 832 | 1199 |
| Borrowings | 3037 | 3792 |
| Deposits | 6452 | 8030 |
| Other Liabilities | 695 | 497 |
| Total Liabilities | 11049 | 13551 |
Cash Flow Statement (2022-2023)
| Item | 2022 | 2023 |
|---|---|---|
| PBT (%) | 44 | 103 |
| OPBWC | 490 | 591 |
| Term Deposit | 0 | 0 |
| Change in Investment | -886 | -204 |
| Change in Advances | -1980 | -2859 |
| Change in Deposit | 1138 | 1577 |
| Other Changes | -107 | 128 |
| Working Capital Change | -1835 | -1358 |
| Cash Generated From Operations | -1345 | -767 |
| Tax | 39 | 61 |
| Cash Flow From Operations | -1384 | -828 |
| Purchase of PPE | -26 | -35 |
| Sale of PPE | 0 | 0 |
| Purchase of Investment | -50 | -245 |
| Sale of investments | 62 | 57 |
| Others | -13 | -1 |
| Cash Flow from Investment | -27 | -224 |
| Proceeds from Borrowing | 1898 | 1028 |
| Repayment of Borrowing | -616 | -363 |
| Dividends | 0 | 0 |
| Proceeds from Equity | 174 | 0 |
| Others From Financing | -19 | -52 |
| Cash Flow from Financing | 1437 | 613 |
| Net Cash Generated | 26 | -439 |
| Cash at the Start | 1104 | 1186 |
| Cash at the End | 1130 | 747 |
Share Holding Pattern
| Owner | 2022 (%) | 2023 (%) |
|---|---|---|
| Wagner Limited | 17.75 | 17.75 |
| True North Fund V LLP | 16.49 | 16.49 |
| INDIUM IV (Mauritius) Holdings Limited | 16.40 | 16.40 |
| Omega TC Holdings Pte. Ltd | 8.42 | 8.42 |
| Others | 40.94 | 40.94 |
Frequently Asked Questions (FAQ)
Find answers to common questions, providing clarity and insights to address any queries on your mind.
Contact Us: Reach out to Unlistify to confirm availability and agree on a price.
Provide KYC: Submit your Client Master Report, PAN card, and a cancelled cheque.
Make Payment: Transfer funds to our designated bank account (RTGS/NEFT/IMPS/cheque). Ensure the payment originates from the same account where you want the shares credited.
Receive Shares: We’ll transfer the Fincare Business shares to your Demat account within 24 hours of payment confirmation.
Get a Quote: Unlistify will provide a buyback price for your Fincare Business shares.
Share Details: Submit your Client Master Report.
Transfer Shares: Transfer the Fincare Business shares to our Demat account using a DIS (Delivery Instruction Slip).
Receive Payment: We’ll transfer funds to your bank account within 24 hours of receiving the shares (RTGS/NEFT/IMPS/cheque). For security reasons, payment will only be made to the account linked to your Demat
DIS (Delivery Instruction Slip): A DIS is a form used to authorize the transfer of shares from your Demat account.
Methods:
Offline DIS: Fill out a physical DIS form with details like the ISIN number, quantity, price of your Fincare Business shares, and our account information. Submit this to your broker.
Online DIS: Some brokers offer online DIS systems for easier transfers.
Unlistify aims to make unlisted share investing accessible. The current minimum investment for Fincare Business Unlisted Shares is approximately 35,000 – 50,000 INR.
Limited Liquidity: Unlisted shares are not traded on public exchanges, making it potentially harder to find buyers when you want to sell.
Price Volatility: Prices can fluctuate more than listed shares due to less publicly available information.
Regulatory Changes: Regulations for unlisted shares can change, affecting their value and trading.
Company-Specific Risks: Each company has its own risks related to its industry, financials, and management.
No Guarantee of Listing: There’s no assurance that unlisted shares will ever be listed on a public exchange.
Market Leader: Unlistify is one of India’s fastest-growing unlisted share platforms.
Transparency: We provide clear information about each unlisted share, including potential risks.
Security: We prioritize the protection of your financial information.
Customer Support: Our team is dedicated to guiding you through the investment process.
Latest Funding: We consider the valuation from Fincare Business most recent funding round.
Comparable Companies: If there’s no recent funding, we analyze similar listed companies to estimate a fair value.
SEBI’s Influence: SEBI regulations do apply to some aspects of unlisted share trading, such as lock-in periods and transaction charges. However, there are no specific SEBI regulations for becoming an unlisted broker.
We aim for same-day transfer of Fincare Business Unlisted Shares to your Demat account after your payment is confirmed.
Tax Transition: Once your unlisted Fincare Business shares are listed and sold on an exchange, standard listed share tax rules apply.
Holding Period: Your holding period (for determining long-term vs. short-term capital gains tax) starts from the original unlisted purchase date.
