| SWASTIKA FIN-LEASE LIMITED was incorporated as a Public Limited Company on 3rd June, 1992 and obtained the certificate of commencement of business on 24th June, 1992 from Registrar of Companies (ROC) Maharashtra at Bombay. There is no change in the management since incorporation of the Company.
Presently the company is engaged in the business of Hire Purchase, Leasing. Investment Banking and Security Market Operations.
The Company is primarily engaged in providing Hire-purchase finance on vehicles and consumer durable to individual customers and institutional buyers. Due to long experience of promoters in the field of Automobiles and Consumer durable, the customer for finance with good track record are assured. The Company has made tie-up with the authorised dealers of various automobiles vehicles & consumer durable products for implementing its leasing and hire purchase business. The Company has already enter215 Hire-Purchase and Lease Agreements with individual and institutional clients.
As a pant of business strategy for improving the levels of business, the Company has adopted the institutional approach for financing the employees of reputed Government institutions, Public Sector Bodies and Private Sector institutions against specific undertakings for recovery
through deduction at source from salary. This has pushed up the total disbursement and has shown assured recovery.
The Company has disbursed following amount in lease and hire-purchase activities:-
Hire Purchase
(Amount in Rupees)
Period Period Period
Ended Ended Ended
31.03.93 31.03.94 31.10.94
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Disbursement 6,24,096 8,96,600 8,94,700
Recovery % 100% 100% 100%
Bad Debts NIL NIL NIL
Income Earned 61,769 1,81,086 2,57,791
Lease
Disbursement - 2,41,300 -
Recovery % - 100% -
Bad Debts - - -
Income Earned - 7,500 60,000
Since all debtors, Loans & Advances are considered good, no provision for the same are made. There are 100% recovery of interest/principle due from clients and there are no bad and doubtful debts from the companies in which the director are interested. None of the directors are interested with these transactions.
The company's investment policy is based on optimum profits to the Company, risk and return, tax planning and market trend. The investment procedure begins with a detailed appraisal for each proposal. Power for deployment of funds have been delegated to Managing Committee, whose decisions will be reviewed from time to time by the Board.
The Gross Income of the Company has increased from Rs. 1.32 lacs in 1992-93 to Rs. 4.28 lacs in the year 1993-94. The Company has achieved the Gross Income of Rs. 9.03 lacs upto 31st October, 1994,
SWOT ANALYSIS OF THE COMPANY
STRENGTH
* Financial Sector, a thrust area and a rapidly growing industry.
* Tie-up arrangement with the authorised dealers of various products for Leasing and Hire-Purchase.
WEAKNESS
* The Company is engaged in the business of Finance and by its very nature is exposed to credit and investment risks. The Company's profitability may be affected due to default in payments of lease and hire purchase installments by the clients.
* In the absence of stake of any Financial Institution/Bank there shall be no monitoring of the funds raised through this issue and deployment of funds is left entirely to the promoters.
OPPORTUNITIES
* Company intend to capitalise the growing opportunities in leasing and hire purchase.
THREATS
* The Company is likely to face competition from new companies in addition to the existing players in the financial sector.
MAIN OBJECTS OF THE COMPANY
THE MAIN OBJECTS OF THE COMPANY AS PER MEMORANDUM OF ASSOCIATION ARE:-
To carry on the business of a Hire-purchase, bills discounting, finance and leasing and to purchase or otherwise acquire in order to provide on lease or hire or on hire purchase basis every kind of Industrial, household or office plant, equipment, machinery, instruments, appliances, apparatus or accessories, or goods, articles or commodities of all and every kind or description, buildings premises or other real estate or immovable properly.
SUBSIDIARY COMPANY
The company has no subsidiary.
2007
-Swastika Fin Lease Ltd has informed that the name of the Company has been changed from "Swastika Fin-Lease Ltd" to "Swastika Investmart Ltd" w.e.f. March 22, 2007, vide certificate issued by Registrar of Companies, Maharasthra, Mumbai.
-Swastika Investsmart Ltd has informed that the Equity Shares of the Company have been delisted from Madhya Pradesh Stock Exchange Ltd (MSE), w.e.f. March 24, 2007.
-Swastika Investsmart Ltd has appointed Mr. Ramanlal Bhutda as an additional Director of the Company w.e.f. October 13, 2007.
2008
- Membership of Currencies Derivatives of NSE and MCX-SX.
2009
- Starting of SEBI Registered Portfolio Management Services.
2010
- Starting of NSDL Services, Membership of USE & ICEX.
2011
- Starting of NCDEX Spot Exchange.
2012
-Swastika Investmart have recommended dividend @ 10% (Rs. 1 each) on equity shares.
2013
-Swastika Investmart have recommended dividend @ 10% (Re. 1/- each) on equity shares.
2014
-Swastika Investmart has recommended a Dividend of Re. 1/- per share (10% on face value of Rs. 10/-).
2015
-Swastika Investsmart has recommendation of Dividend at the rate of 10% subject to approval of Shareholders in ensuing Annual General Meeting.
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