TCI Finance Share price

TCI Finance Limited was incorporated on 29th November1973 as a Public Limited Company in the name and style of"BHORUKA FINANCE LIMITED" at Bombay.The name of the Company was changed to "TCI FINANCELIMITED" with effect from 20th November 1992. The Registrarof Companies Maharashtra has issued a fresh certificateof incorporation consequent upon the change of name on 20thNovember 1992.The Company is an existing profit making and dividendpaying company belonging to TCI - Bhoruka group. TheCompany''s turnover for the year ended 31st March 94 wasRs.293.73 lacs. The Company is engaged in the business ofLeasing Hire Purchase Corporate Finance BillsDiscounting Merchant Banking Investment BankingCorporate Advisory Services. The past performance of theCompany for last 5 years is as under:MAIN OBJECTS OF THE COMPANYThe main objects of the Company as set out in theMemorandum and Articles of Association of the Company areas follows1.To carry on the business of financing and hire purchasein all its branches and in any movable and immovablegoods and property of any description and to carry onbusiness as Mortgage Brokers Financial Agent and todo all sorts of financing and guaranteeing businessincluding hire purchase business.2.To carry on the business of Capitalists FinanciersConcessionaires for merchants Importers and Exporterscommercial Traders Commercial Agents and for purchasingselling business.3.To carry on the business of Investment Company andinvest and acquire hold sell and otherwise deal in sharesdebenture stock bonds obligations and securities issuedor guaranteed by any company or by any GovernmentState public body or authority whether in India orelsewhere.4.To deal with and invest the moneys of the Company insuch manner and upon such securities as shall from timeto time be thought necessary or fit for the benefit of theCompany and to lend advance or deposit money securitiesand property with or without charge interest or securityto or with such persons or to receive and accept depositsadvances and loans on such terms and conditions as maybe thought expedient and in that the Company shall notcarry on the business of banking as defined in Use BankingCompanies Act 1949.PRESENT BUSINESS ACTIVITIESTCI Finance Limited is an integrated finance Company andthe operations include :-1. Hire PurchaseThe Company provides finance under Hire Purchase Scheme toacquire Cars Trucks Light Commercial Vehicles Plant andMachinery Office equipment Computers etc. The Companyhas outstanding stock on hire to the extent of Rs.1242.15lacs as at 31st January ''95. The past performance of thisdivision is as under :- (Rs. in Lacs) 31.01.951993-94 1992-93 1991-92 (10 months)Hire Purchase Income 137.18 50.50 17.56 9.07Total Stock on Hire 1242.15 455.38 108.46 80.58In view of the fact that the Company is going in for branchexpansion in several towns where there is more potentialfor Hire Purchase of vehicles.2.LeasingThe Company provides Lease Financing covering CommercialVehicles Plant and Machinery Computers etc. The Companyhas leased assets to the tune of Rs.907.93 lacs as on31.01.95. The past performance of this division is asunder:- (Rs. in lacs) 31.01.95 1993-94 1992-93 1991-92 (10 months)Lease Income 176.28 65.48 40.59 14.34Total Leased Assets 907.93 417.03 185.10 59.36The Company proposes to increase its leasing business inorder to achieve a higher level of operations and takeadvantage of the consequent tax benefits.3. InvestmentsThe Company has been investing funds in securities sinceits inception. The investment decisions are made by theBoard of Directors. Investments have been divided amongGovernment Securities listed Companies and non-listedCompanies to diversify the risks and assure a good returnon investments. As on 31.01.95 total investments of theCompany stood at Rs.545 lacs (cost price) and its marketvalue was Rs.597 lacs.The details as on 31/3/94 of the amount of investment madeby the Company in the shares of the group companies aregiven below:Sr no. Name of the Company No. of shares Face Value(shares quoted)1. ABC India Ltd 256200 102. Bhoruka Financial Services Ltd 19350 103. Bhoruka Gases Limited 31478 104. Bhoruka Steels Limited 49360 105. Transport Corporation of India Ltd 745762 106. KIAT Mktg. Ltd 8400 10(sharesunquoted)7. Bhorucom Software (P) Ltd 1000 1008. Bhoruka Goldhofer Trailers Ltd 750 1009. Bhoruka Investment Ltd 225000 104.Corporate Finance and Bills DiscountingThe Company has been financing small medium and largeCompanies by way of Inter Corporate Deposits anddiscounting of trade bills. The past performance in thisSector is as under: (Rs in Lacs) 31.01.95 1993-94 1992-93 (10 months)Income from Bill Discounting 77.48 8.58 1.33Trade Bills Discounted 182.85 136.00 12.005. Merchant BankingThe Company obtained registration as a Category-I MerchantBanker from the Securities and Exchange Board of India witheffect from 16.06.94. Underwriting has been extended toabout 100 issues and currently the Company is handling 15Public Issues as Lead Managers.None of the issues so far underwritten by the Company havedevolved.6. Corporate Advisory ServicesThe Company is engaged in advising corporates on projectplanning and appraisal Capital structuring LoanSyndication and planning of Capital issues.