Satin Creditcare Network Share price

Satin Leasing & Finance Ltd. (SLFL) was incorporated as a Private Limited Company on 16th October 1990 under the Companies Act 1956 with the main object of undertaking hire-purchase financing & leasing of consumer durables house hold items vehicles computers machineries etc. The company was converted into a Public Limited Company vide special resolution passed on 27.04.94 and obtained fresh Certificate of incorporation on 1st July 1994.PRESENT BUSINESS OF THE COMPANYSLFL is an existing profit making and diversified Company providing a range of financial services to its clients. It has been recording net profits consistently since its inception. Presently SATIN LEASING AND FINANCE LIMITED has allocated a major portion of its funds toward financing of consumer durables and automobiles.The company is presently engaged in the following activities.* Leasing * Hire-Purchase * InvestmentLEASING & HIRE-PURCHASELeasing and hire-purchase financing is the main activity of the company. Under these two financing schemes the company is mainly targeting the shopkeeper segment desirous of availing finance for buying of consumer durables like cars generators sets computers etc. The company believes that in the emerging economic environment alternative sources of finance like leasing and hire-purchase offers a good scope of growth for the NBFC''s. The company has proper appraisal systems for assessing the credit risks and has set prudential exposure norms. As on 31.12.95 the Company has leased assets of Rs. 87.10 lacs and stock on hire was Rs. 146.41 lacs.INVESTMENTSThe Company is engaged in Capital Market operations. These operations consist of investment in Equity Shares and debentures. While making investment decisions several parameters like history of the company financial performance industry prospects risks involved in that particular industry existing exposure in the industry in question etc. are taken into consideration.The Company pioneered the unique concept of "daily collections" in its finance schemes which has been instrumental in not only ensuring a zero delinquency rate so far but also in aggregating a return on investments which is higher than the returns generated by normal monthly/ periodical instalment schemes. By this Unique concept the company has carved a niche for itself in the organised sector of financing business. The Company is presently engaged in financing of Generator sets Automobiles including cars and two wheelers and other consumer durable items machinery etc. mainly to the shopkeeper segment of Delhi and that of satellite cities of Delhi. The Company has been running various daily collection schemes for collection of instalments of items financed. The instalments are collected on daily basis for the period of finance which generally varies from 120 days to 1080 days. The Company is in agreement with M/s. Pan Marketing Services who collects and monitors the day to day collection of instalment from the customers.The company has catered to the financing requirements of over 4000 customers till now.SUBSIDIARIES OF THE COMPANYThe Company has no subsidiary.