MAGMA FINCORP LIMITED  

Quarterly Result
- Audited Financial Results for the quarter and year ended 31 March 2009

Audited Financial Results for The Quarter and Year Ended 31st March, 2009
           
(Rs. in lacs)
Particulars
Quarterly
Year ended
Consolidated for the Year ended

Last quarter ended 31.03.2009
(Unaudited)
Corresponding quarter ended 31.03.2008
(Unaudited)
31st March 2009
(Audited)
31st March 2008
(Audited)
31st March 2009
(Audited)
31st March 2008
(Audited)
         
1. Income From Operations
16,340.21
15,379.28
56,927.84
43,711.92
57,469.34
  43,733.92
2. Other Operating Income
1,346.54
743.19
5,413.07
3,270.38
5,436.80
3,283.00
  Total Operating Income (A)
17,686.75
16,122.47
62,340.91
46,982.30
62,906.14
47,016.92
3. Staff Cost
2,912.28
1,774.59
9,992.15
6,404.80
9,992.15
6,404.80
4. Depreciation
987.90
774.15
3,423.90
2,879.11
3,423.90
2,898.34
5. Brokerage & Commission
1,009.03
1,545.13
4,625.65
4,403.71
4,657.35
4,403.71
6. Bad Debts Written-off
1,916.52
1,972.73
4,151.19
4,041.78
4,151.19
4,041.78
7. Other Operative & Administrative Expenses
1,751.99
1,737.22
5,806.76
4,678.05
5,982.41
4,733.96
8. Total Operating Expenditure (B)
8,577.72
7,803.82
27,999.65
22,407.45
28,207.00
22,482.59
Profit From Operations Before Other Income & Interest (A-B)
9,109.03
8,318.65
34,341.26
24,574.85
34,699.14
24,534.33
9. Other Income
70.86
56.16
207.50
161.05
207.50
161.14
10. Profit Before Interest & Tax
9,179.89
8,374.81
34,548.76
24,735.90
34,906.64
24,695.47
11. Interest & Finance Charges
8,061.07
5,872.20
28,536.23
17,076.93
28,802.59
17,077.36
12. Profit Before Tax
1,118.82
2,502.61
6,012.53
7,658.97
6,104.05
7,618.11
13. Provision For Tax (Net Of Amount Written Back)
167.04
  -
1,320.00
1,511.36
1,340.16
1,515.89
14. Provision For Deferred Tax
271.51
  -
788.29
1,094.10
784.05
1,077.46
15. Profit After Tax & Deferred Tax
680.27
2,502.61
3,904.24
5,053.51
3,979.84
5,024.76
16. Share of Minority Interest (Loss)
 
 
 
 
(17.79)
10.26
17. Profit/(Loss) after Minority Interest
680.27
2,502.61
3,904.24
5,053.51
3,962.05
5,035.02
18. Paid-Up Equity Capital (Face Value Rs.10/-Each)
2,177.71
2,177.71
2,177.71
2,177.71
2,177.71
2,177.71
19. Reserves & Surplus
-
-
27,277.64
24,276.66
27,474.52
25,290.27
20. Earning Per Share
  - Basic  (in Rs.)
2.91
10.71
14.69
18.95
15.04
18.81
  - Diluted (in Rs.)
2.90
10.45
14.66
18.39
15.01
18.26
21. Public Share Holding
  - Number Of Shares
11,099,318
11,099,318
11,099,318
11,099,318
11,099,318
11,099,318
  - Percentage Of Shareholding
50.97%
50.97%
50.97%
50.97%
50.97%
50.97%
22. Promotors and promotor group Shareholding            
  a) Pledged/ Encumbered            
    - Number of Shares
-
-
-
-
-
-
    - Percentage of Shares
(as a % of total shareholding of promotor and promotor group)
-
-
-
-
-
-
    - Percentage of Shares
(as a % of total share capital of the company)
-
-
-
-
-
-
  b) Non-encumbered            
    - Number of Shares
10,677,822
-
10,677,822
-
10,677,822
-
    - Percentage of Shares
(as a % of total shareholding of promotor and promotor group)
100.00%
-
100.00%
-
100.00%
-
    - Percentage of Shares
(as a % of total share capital of the company)
49.03%
-
49.03%
-
49.03%
-
               


Notes :
1. The said working results have been reviewed by the Audit Committee and taken on record and approved by the Board of Directors of the Company at its Meeting held on 30th June 2009.
2. The Board of Directors at their meeting considered and recommended an Equity Dividend @ 10% i.e Re.1/- per Equity Shares of Rs.10/- each and a Preference Dividend of 9.7%, 5% and 5% for the financial year 2008-09 and @ 0.5% on 21,09,199 Cummulative Non-Convertible Redeemable Preference Shares of Rs.100/- each for the financial year 2007-08, subject to approval of the Shareholders at the ensuing Annual General Meeting.
3. Provision for Tax and Deferred Tax, as per Accounting Standard 25 (Interim Financial Reporting) has been considered for the quarter ended and year ended 31st March 2009; for the previous year ended 31st March 2008 this was considered only at year end. Hence, Profit After Tax, Profit After Deferred Tax and Earning Per Share for the quarter ended 31st March 2009 is not comparable with the corresponding figures for the quarter ended 31st March 2008. No provision for Fringe Benefit Tax has been made in view of writ petition filed and stay obtained against the same.
4. The Company is engaged primarily in the business of financing and only in one Geographical Segment viz. India. As such no separate Business and Geographical reportable segment's information as per Accounting Standard 17 (Segment Reporting) has been furnished in the accounts.
5. The name of the Company has been changed from Magma Shrachi Finance Limited to Magma Fincorp Limited w.e.f. 31st July 2008.
6. During the year, the Company has subscribed to 74,00,000 Equity Shares of Rs.10/- each aggregating Rs.740 lacs in Magma ITL Finance Limited, a Joint Venture Company with  M/s.International Tractors Limited (ITL), equivalent to 74% of equity share capital issued during the year.
7. Viper Estates & Investments Private Limited has ceased to be the subsidiary of the Company w.e.f. 31st October 2008.
8. The consolidated financial results comprise of the financial results of Magma Fincorp Limited and its subsidiaries Magma ITL Finance Limited and Magma Consumer Finance Private Limited
9. Previous year / quarter figures are regrouped / restated, wherever found necessary.
10. During the quarter, 3 (three) complaints were received and disposed off. There were no investor complaints pending on 31st March, 2009.


By order of the Board
For Magma  Fincorp Limited
Place : Kolkata - 700 016
Dated : 3oth June, 2009
Sanjay Chamria
Vice Chairman & Managing Director
Registered Office : Magma House, 24 Park Street, Kolkata - 700 016
(I)(b) STATEMENT SHOWING SHAREHOLDING OF PERSONS BELONGING TO THE CATEGORY
[PROMOTER & PROMOTER GROUP]  as on 30/06/2009
Srl
 Name
Number
of Shares
 % to
Total		 Pledged
Shares		 As a % % To
1
 BENGAL TOOLS LTD. 54787 0.252 0 0 0
2
 CELICA DEVELOPERS PVT LTD
5512284 25.312 0 0 0
3
 G N B CREDIT PVT LTD
281888 1.294 0 0 0
4
 GNB LOGISTICS PVT. LTD.
120979 0.556 0 0 0
5
 KHAITAN LEFIN LIMITED 500 0.002 0 0 0
6
 MARTINA FINANCIAL SERVICES PRIVATE LIMIT
 127958 0.588 0 0 0
7
 MICROFIRM SOFTWARES PVT LTD
3031611 13.921 0 0 0
8
 SUNFLOWER ENGINEERING INDUSTRIES PVT. LT
 211491 0.971 0 0 0
9
 TOZAI ENTERPRISES PVT LTD
23966 0.11 0 0 0
10
 TOZAI EXPORTS PVT LTD
4209 0.019 0 0 0
11
 ANUP JATIA
10500 0.048 0 0 0
12
 ASHITA PODDAR
3300 0.015 0 0 0
13
 CHITRALEKHA TODI
18946 0.087 0 0 0
14
 GANESH CHANDRA DAS
4766 0.022 0 0 0
15
 KALPANA PODDAR
55500 0.255 0 0 0
16
 MANSI PODDAR
57000 0.262 0 0 0
17
 MAYANK PODDAR
300000 1.378 0 0 0
18
 RAHUL TODI
232566 1.068 0 0 0
19
 RAHUL TODI
83855 0.385 0 0 0
20
 RAVI TODI
52003 0.239 0 0 0
21
 RAVI TODI
35012 0.161 0 0 0
22
 RAVI TODI(HUF)
87833 0.403 0 0 0
23
 SANJAY CHAMRIA
14499 0.067 0 0 0
24
 SANJEEV AGARWAL
3342 0.015 0 0 0
25
 SARIKA TODI
45393 0.208 0 0 0
26
 SHAILI PODDAR
25000 0.115 0 0 0
27
 SHRAWAN KUMAR RAVI TODI(HUF)
94622 0.435 0 0 0
28
 SHRAWAN KUMAR TODI
48300 0.222 0 0 0
29
 SHRAWAN KUMAR TODI
34153 0.157 0 0 0
30
 SHRAWAN KUMAR TODI
19719 0.091 0 0 0
31
 SHRAWAN KUMAR TODI
55196 0.253 0 0 0
32
 SUJATA TODI
20930 0.096 0 0 0
33
 VANITA CHAMRIA
48592 0.223 0 0 0
TOTAL  10720700 49.229 Nil Nil Nil

(I)(c) STATEMENT SHOWING SHAREHOLDING OF PERSONS BELONGING TO THE CATEGORY
[PUBLIC] and holding more than 1% of the total number of shares as on 30/06/2009
Srl
 Name of the Shareholder
Number of Shares
% To Total
1
 CPIM STRUCTURED CREDIT FUND A 1000 LIMIT 1268898 5.827
2
 CPIM STRUCTURED CREDIT FUND A 1500 LIMIT 957297 4.396
3
 CPIM STRUCTURED CREDIT FUND A 20 LIMITED 1038012 4.767
4
 DEVSAR VYAPAAR PRIVATE LIMITED          389961 1.791
5
 INDIA CAPITAL FUND LIMITED              1637152 7.518
6
 INDIA CAPITAL OPPORTUNITIES 1 LIMITED   308848 1.418
7
 INDIA INSTITUTIONAL FUND LIMITED        651691 2.993
8
 PAN EMAMI COSMED LIMITED                267863 1.23
9
 RELIANCE INFRASTRUCTURE AND CONSULTANTS 2157000 9.905
  
TOTAL                                   8676722 39.843

(I)(d) STATEMENT SHOWING DETAILS OF LOCKED-IN SHARES as on : 30/06/2009
Srl
 Name of the Shareholder

Category of Shareholders
(Promoter/Non-Promoter)

Number of Shares

% to Total
1
 BENGAL TOOLS LTD.                       Promoter  54787 0.252
2
 G N B CREDIT PVT LTD                    Promoter  281888 1.294
3
 GNB LOGISTICS PVT. LTD.                 Promoter  120979 0.556
4
 KHAITAN LEFIN LIMITED                   Promoter  500 0.002
5
 MARTINA FINANCIAL SERVICES PRIVATE LIMIT Promoter  127958 0.588
6
 SUNFLOWER ENGINEERING INDUSTRIES PVT. LT Promoter  211491 0.971
7
 TOZAI ENTERPRISES PVT LTD               Promoter  23966 0.11
8
 TOZAI EXPORTS PVT LTD                   Promoter  4209 0.019
9
 ANUP JATIA                              Promoter  10500 0.048
10
 CHITRALEKHA TODI                        Promoter  18946 0.087
11
 GANESH CHANDRA DAS                      Promoter  4766 0.022
12
 RAHUL TODI                              Promoter  232566 1.068
13
 RAHUL TODI                              Promoter  83855 0.385
14
 RAVI TODI                               Promoter  52003
 0.239
15
 RAVI TODI                               Promoter  35012 0.161
16
 RAVI TODI(HUF)                          Promoter  87833 0.403
17
 SANJEEV AGARWAL                         Promoter  3342 0.015
18
 SARIKA TODI                             Promoter  45393 0.208
19
 SHRAWAN KUMAR RAVI TODI(HUF)            Promoter  94622 0.435
20
 SHRAWAN KUMAR TODI                      Promoter  48300 0.222
21
 SHRAWAN KUMAR TODI                      Promoter  34153 0.157
22
 SHRAWAN KUMAR TODI                      Promoter  19719 0.091
23
 SHRAWAN KUMAR TODI                      Promoter  55196 0.253
24
 SUJATA TODI                             Promoter  20930
 0.096
  
TOTAL                                             1672914 7.682

(II) (a) STATEMENT SHOWING DETAILS OF DEPOSITORY RECEIPTS (DRs) as on : 30/06/2009
Srl.
 Type of Outstanding DR(ADRs, GDRs, SDRs, etc) Number of Outstanding DRs Number of Shares underlying outstanding DRs Shares underlying outstanding DRs as a Percentage of total number of shares (ie. Grand total (A) + (B)+(C) indicated in Statement at para(I) (a) above)
1
Nil
Nil
Nil
Nil

(II) (b) STATEMENT SHOWING DETAILS OF DEPOSITORY RECEIPTS (DRs), WHERE,
UNDERLYING SHARES ARE IN EXCESS OF 1% OF THE TOTAL NO. OF SHARES as on : 30/06/2009
Srl.
 Name of the DR Holder Type of outstanding DR(ADRs, GDRs, SDRs, etc.) Number of Shares Underlying outstanding DRs Shares underlying Outstanding DRs as Percentage of total number of shares (ie. Grand total (A)+(B)+(C)indicated in statementat para (I)( a) above
1
Nil
Nil
Nil
Nil