Credit rating agency, CARE has assigned ‘AA’ rating to Magma Fincorp’s Proposed Cumulative Redeemable Non-Convertible Preference Shares (Series V) worth Rs 56.0 crore. The rating agency has also reaffirmed ‘AA’ rating to company’s Long term/Short term Unsecured Subordinated Tier II debt (Series I) worth Rs 75.0 crore.
The company has received the said rating on back of its long track record, experienced management team, wide branch network, diversified asset portfolio with increasing share of high yield products over the years and satisfactory asset quality and collection efficiency.
The entity has reported a net profit of Rs 144.9 crore in FY'13 with average assets under management of Rs 18,378 crore by the end of this period. It had reported a NIM of 4.91% in the last fiscal compared to 3.40% a year earlier.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 908.70 |
| Shriram Finance | 1036.50 |
| Aditya Birla Capital | 340.20 |
| Chola Invest & Fin. | 1579.65 |
| Tata Capital | 337.60 |
| View more.. | |
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