Fynx Capital Share price

The Company has been active in fund based financial services such as Leasing and Hire Purchase Financing since 1985. From 1987 the Company has started investments in Stock Market securities. From 1993-94 the company has started activities in Bill discounting.LEASING & HIRE PURCHASEThe Leasing and Hire Purchase Finance in India has grown very rapidly. It has now become an viable alternative for the manufactures to push their products and the buyer for financing his purchases without undergoing the lengthy and cumbersome term loan procedure. Further the leasing also helps the lessee in adopting the latest changes in technology by allowing him to acquire new generation machines without disrupting his cash flows. The changes in the taxation laws has also made leasing an attractive proposition for the corporate entities. TheCompany has taken up equipment and automobile Leasing and Hire Purchase which carry a low risk and attractive returns. Equipment Leasing and Hire Purchase is offered only to clients with good track record ensuring no defaults. The automobile leasing & hire purchase have been a good source for majority of the finance companies with the steady increase in the standard of living of the upper and middle class of the society and on account of the low default rate in payments. The company is a leading player in financing of consumer durables in the region. Leasing : (Rs. in Lacs) 1997-98 1996-97 1995-96 1994-95 1993-94Disbursement 230.82 176.04 206.26 131.22 95.64Recovery (%) 82.02 88.69 91.71 96.16 91.02Income 159.81 162.30 162.57 122.68 110.26Bad Debts - - 0.31 - - Hire Purchase : (Rs. in Lacs) 1997-98 1996-97 1995-96 1994-95 1993-94Disbursement 507.64 397.99 349.46 156.64 83.16Recovery (%) 92.81 95.00 96.53 94.27 89.52Income 170.32 112.63 57.54 30.42 35.10Bad Debts 14.31 - 0.58 3.21 3.46BILLS DISCOUNTINGThe working capital arrangements of industries has undergone a sea change. The traditional methods of financing working capital through cash credit and book debts is being replaced by a variety of bills and letter of credit thanks to the steps taken by Reserve Bank of India has gained acceptance in trade and industry and is being resorted to in greater proportions. The company as a matter of prudence is discounting only the accepted bills of reputed clients. Bill discounting facilities are self liquidating and the practice of getting post datedcheques has improved the security aspect of the advance. (Rs. in Lacs) 1997-98 1996-97 1995-96 1994-95 1993-94Disbursement 18.80 9.20 10.20 6.79 15.39Recovery (%) 100.00 100.00 100.00 100.00 100.00Income 1.35 0.33 0.25 0.33 0.41Bad Debts - - - - -INVESTMENTThe investments made by the company are statutory investment in liquid assets according to the provisions of the Reserve bank of India Act and directions made thereunder. The investments in Shares Debentures and/or other securities were made as long term investments.SHORT TERM LOANSThis type of loan is given to regular and respected clients for the purpose of short term requirements. The company has reduced short term financing in view of the opening up of other profitable opportunities. (Rs. in Lacs) 1997-98 1996-97 1995-96 1994-95 1993-94Disbursement 158.38 67.37 55.41 44.51 51.19Income 16.48 14.32 8.37 6.50 6.64Bad Debts 0.47 - 0.48 * 3.12 -- Bad Debts provided for Debts Outstanding as per RBI Guidelines.