Kotak Mahindra Finance Limited
Registered Office : 36-38A, Nariman Bhavan, 227, Nariman Point, Mumbai 400 021
UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED DECEMBER 2002
| PARTICULARS |
For the quarter ended Dec 2002 (Unaudited) Rs lacs |
For the quarter ended Dec 2001 (Unaudited) Rs lacs |
For the nine months ended Dec 2002 (Unaudited) Rs lacs |
For the nine months ended Dec 2001 (Unaudited) Rs lacs |
For the year ended March 2002 (Audited) Rs lacs |
| Net Sales/ Income from Operations |
4503.39 |
3487.26 |
13551.41 |
9910.93 |
13380.72 |
| Other Income |
1272.29 |
1174.02 |
3850.80 |
3550.25 |
5019.78 |
| Expenditure: |
|
|
|
|
|
| Staff Costs |
557.56 |
310.37 |
1397.82 |
1028.42 |
1358.00 |
| Professional Expenses |
287.03 |
45.16 |
1004.08 |
187.71 |
413.13 |
| Office Expenses |
206.66 |
84.69 |
865.54 |
318.96 |
434.32 |
| Advertisement Expenses |
48.10 |
97.65 |
135.19 |
223.05 |
340.58 |
| Other Expenses |
537.69 |
333.24 |
1310.73 |
859.35 |
1269.20 |
| Total Expenditure |
1637.04 |
871.11 |
4713.36 |
2617.49 |
3815.23 |
| Provision for Non Performing Assets/Investments |
71.42 |
701.22 |
634.04 |
1428.52 |
1034.70 |
| Interest and bank charges |
2257.48 |
1371.16 |
6369.34 |
3890.05 |
5524.18 |
| Gross Profit after interest but before depreciation and taxation |
1809.74 |
1717.79 |
5685.47 |
5525.12 |
8026.39 |
| Depreciation
| 140.49 |
134.43 |
395.53 |
403.20 |
525.02 |
| Profit before Taxation |
1669.25 |
1583.36 |
5289.94 |
5121.92 |
7501.37 |
| Provision for Taxation |
540.00 |
500.00 |
1800.00 |
1600.00 |
2049.26 |
| Net Profit |
1129.25 |
1083.36 |
3489.94 |
3521.92 |
5452.11 |
| Paid up Equity Share Capital of Rs. 10 each |
5921.28 |
5921.28 |
5921.28 |
5921.28 |
5921.28 |
| Reserves excluding revaluation reserves |
|
|
|
|
45126.80 |
| Basic EPS in Rs. - For the quarter/weighted average for the year |
1.91 |
1.83 |
5.89 |
5.95 |
9.21 |
| Diluted EPS in Rs. - for the quarter/ weighted average for the year |
1.91 |
1.83 |
5.89 |
5.95 |
9.21 |
| Aggregate of non-promoter shareholding as on 31st Dec 2002 as classified under category B of clause 35 of the Listing agreement |
|
|
|
|
|
| - Number of shares |
|
|
21900056 |
21456611 |
21552211 |
| - Percentage of shareholding |
|
|
36.99% |
36.23% |
36.40% |
Kotak Mahindra Finance Limited
Registered Office : 36-38A, Nariman Bhavan, 227, Nariman Point, Mumbai 400 021
SEGMENTAL REPORTING
| Sr. No. |
PARTICULARS |
For the quarter ended Dec 2002 (Unaudited) Rs lacs |
For the quarter ended Dec 2001 (Unaudited) Rs lacs |
For the nine months ended Dec 2002 (Unaudited) Rs lacs |
For the nine months ended Dec 2001 (Unaudited) Rs lacs |
For the year ended March 2002 (Audited) Rs lacs |
| 1 |
Segment Revenue |
|
|
|
|
|
|
Lending Activities |
4196.47 |
3296.82 |
13228.81 |
8880.55 |
12178.90 |
|
Investments & Group services |
1579.21 |
1364.46 |
4173.40 |
4580.63 |
6221.60 |
|
Total |
5775.68 |
4661.28 |
17402.21 |
13461.18 |
18400.50 |
|
Less: Inter segment revenue |
|
|
|
|
|
|
Net Sales / income from operations |
5775.68 |
4661.28 |
17402.21 |
13461.18 |
18400.50 |
|
|
|
|
|
|
|
| 2 |
Segment Results |
|
|
|
|
|
|
Lending Activities |
1078.69 |
612.36 |
3888.41 |
2502.19 |
4094.42 |
|
Investments & Group services |
668.56 |
1056.07 |
1609.81 |
2878.87 |
3679.83 |
|
Total |
1747.25 |
1668.43 |
5498.22 |
5381.06 |
7774.25 |
|
Less: Other unallocable expenditure net off unallocable income |
(78.00) |
(85.07) |
(208.28) |
(259.14) |
(272.88) |
|
Total Profit Before Tax |
1669.25 |
1583.36 |
5289.94 |
5121.92 |
7501.37 |
|
|
|
|
|
|
|
| 3 |
Capital Employed |
|
|
|
|
|
|
Lending Activities |
20000.00 |
20000.00 |
20000.00 |
20000.00 |
20000.00 |
|
Investments & Group services |
32389.41 |
31720.86 |
32389.41 |
31720.86 |
29532.92 |
|
Others |
2059.17 |
2022.31 |
2059.17 |
2022.31 |
1439.51 |
|
Total |
54448.58 |
53743.17 |
54448.58 |
53743.17 |
50972.43 |
Notes:
- Income for the period under review includes effect of securitisation of commercial vehicle finance receivables resulting in a impact on net income from operations of Rs. 14 lakhs.
- Total expenditure for the quarter October to December 02 and for the period April 02 to December 02 includes expenses incurred and provided for the proposed conversion of the Company into a bank.
- The shareholders at the Extraordinary Meeting held on 30th December 02, approved the necessary amendments to the Memorandum and Articles of Association and change of name of the Company which become effective upon the Company commencing the business of banking, pursuant to the approval of Reserve Bank of India.
By the order of the Board of Directors
For Kotak Mahindra Finance Limited
Dipak Gupta
Executive Director
Mumbai, 30th January 2003