Company Profile

MAGMA FINCORP LTD.

NSE : MAGMABSE : 524000ISIN CODE : INE511C01022Industry : Finance - NBFCHouse : Magma
BSE160.25-3.3 (-2.02 % )
PREV CLOSE (Rs.) 163.55
OPEN PRICE (Rs.) 167.00
BID PRICE (QTY) 0.00 (0 )
OFFER PRICE (QTY) 0.00 (0 )
VOLUME 113050
TODAY'S LOW / HIGH (Rs.)157.00 167.00
52 WK LOW / HIGH (Rs.)16.85 173.8
NSE159.10 -3.9 (-2.39 % )
PREV CLOSE(Rs.) 163.00
OPEN PRICE (Rs.) 168.40
BID PRICE (QTY) 159.10 (2454 )
OFFER PRICE (QTY) 0.00 (0 )
VOLUME 1069178
TODAY'S LOW / HIGH(Rs.) 156.60 169.40
52 WK LOW / HIGH (Rs.)16.8 173.65

Company News

Date Heading Details
11-Jun-2021 Allotment of Equity Shares inter alia,approved 1.Appointment of Chief Internal Auditor of the Company Appointment of Mr. Anup Kumar Agarwalas theChief Internal Auditor of the Company as per the provisions of the Companies Act, 2013w.e.f10 June 2021for a period of five years. 2.Execution of Shareholders' Agreement entered into between Rising Sun Holdings Private Limited, existing promoters and the Company and consequent alteration of Articles of Association of the Company Pursuant to the completion of the preferential issue of 49,37,14,286 equity shares of the Company to Rising Sun Holdings Private Limited (RSHPL) along with Mr. Sanjay Chamria and Mr. Mayank Poddar, members of the promoter and promoter group of the Company, and completion of the open offer by the said allottees, RSHPL holds a controlling stake in the Company and is classified as a ‘promoter' of the Company, along with the existing members of the promoter and promoter group of the Company (‘Existing Promoters'). Accordingly, the Company, RSHPL and Existing Promoters have entered into a Shareholders' Agreement (‘SHA') dated 10 June 2021 torecord the terms and conditions on which their relationship in respect of the affairs of the Company will be governed. 3.Approval of the Postal Ballot Notice for seeking shareholders' approval The Board has decided to seek approval of Members of the Company by way of Postal Ballot pursuant to Section 108 and 110 of the Companies Act, 2013 read with Rule 20 and 22 of Companies (Management and Administration) Rules, 2014 as amended in respect of the following matters: a.Approval for change of name of the Company and consequential amendment to Memorandum of Association and Articles of Association of the Company b.Alteration in Articles of Association of the Company. Mr. Girish Bhatia, Practising Company Secretary, Kolkata, (CP No. 13792) hasbeen appointed as Scrutinizer for conducting the Postal Ballot only through E-voting process in a fair and transparent manner. The Company has fixed 4 June 2021 as the cut-off date for ascertaining the list of the Shareholders to whom the Postal Ballot Notice will be sent for reckoning the voting rights. The details required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9 September 2015.
11-Jun-2021 Change in Name of the Company inter alia,approved 1.Appointment of Chief Internal Auditor of the Company Appointment of Mr. Anup Kumar Agarwalas theChief Internal Auditor of the Company as per the provisions of the Companies Act, 2013w.e.f10 June 2021for a period of five years. 2.Execution of Shareholders' Agreement entered into between Rising Sun Holdings Private Limited, existing promoters and the Company and consequent alteration of Articles of Association of the Company Pursuant to the completion of the preferential issue of 49,37,14,286 equity shares of the Company to Rising Sun Holdings Private Limited (RSHPL) along with Mr. Sanjay Chamria and Mr. Mayank Poddar, members of the promoter and promoter group of the Company, and completion of the open offer by the said allottees, RSHPL holds a controlling stake in the Company and is classified as a ‘promoter' of the Company, along with the existing members of the promoter and promoter group of the Company (‘Existing Promoters'). Accordingly, the Company, RSHPL and Existing Promoters have entered into a Shareholders' Agreement (‘SHA') dated 10 June 2021 torecord the terms and conditions on which their relationship in respect of the affairs of the Company will be governed. 3.Approval of the Postal Ballot Notice for seeking shareholders' approval The Board has decided to seek approval of Members of the Company by way of Postal Ballot pursuant to Section 108 and 110 of the Companies Act, 2013 read with Rule 20 and 22 of Companies (Management and Administration) Rules, 2014 as amended in respect of the following matters: a.Approval for change of name of the Company and consequential amendment to Memorandum of Association and Articles of Association of the Company b.Alteration in Articles of Association of the Company. Mr. Girish Bhatia, Practising Company Secretary, Kolkata, (CP No. 13792) hasbeen appointed as Scrutinizer for conducting the Postal Ballot only through E-voting process in a fair and transparent manner. The Company has fixed 4 June 2021 as the cut-off date for ascertaining the list of the Shareholders to whom the Postal Ballot Notice will be sent for reckoning the voting rights. The details required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9 September 2015.
11-Jun-2021 Notice of Postal Ballot inter alia,approved 1.Appointment of Chief Internal Auditor of the Company Appointment of Mr. Anup Kumar Agarwalas theChief Internal Auditor of the Company as per the provisions of the Companies Act, 2013w.e.f10 June 2021for a period of five years. 2.Execution of Shareholders' Agreement entered into between Rising Sun Holdings Private Limited, existing promoters and the Company and consequent alteration of Articles of Association of the Company Pursuant to the completion of the preferential issue of 49,37,14,286 equity shares of the Company to Rising Sun Holdings Private Limited (RSHPL) along with Mr. Sanjay Chamria and Mr. Mayank Poddar, members of the promoter and promoter group of the Company, and completion of the open offer by the said allottees, RSHPL holds a controlling stake in the Company and is classified as a ‘promoter' of the Company, along with the existing members of the promoter and promoter group of the Company (‘Existing Promoters'). Accordingly, the Company, RSHPL and Existing Promoters have entered into a Shareholders' Agreement (‘SHA') dated 10 June 2021 torecord the terms and conditions on which their relationship in respect of the affairs of the Company will be governed. 3.Approval of the Postal Ballot Notice for seeking shareholders' approval The Board has decided to seek approval of Members of the Company by way of Postal Ballot pursuant to Section 108 and 110 of the Companies Act, 2013 read with Rule 20 and 22 of Companies (Management and Administration) Rules, 2014 as amended in respect of the following matters: a.Approval for change of name of the Company and consequential amendment to Memorandum of Association and Articles of Association of the Company b.Alteration in Articles of Association of the Company. Mr. Girish Bhatia, Practising Company Secretary, Kolkata, (CP No. 13792) hasbeen appointed as Scrutinizer for conducting the Postal Ballot only through E-voting process in a fair and transparent manner. The Company has fixed 4 June 2021 as the cut-off date for ascertaining the list of the Shareholders to whom the Postal Ballot Notice will be sent for reckoning the voting rights. The details required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9 September 2015.
02-Jun-2021 Magma Fincorp informs about annual secretarial compliance report <p align="justify">In terms of Clause 3 (b) (iii) of SEBI Circular No. CIR/CFD/CMD1/27/2019 dated 8th February, 2019, Magma Fincorp has submitted the Annual Secretarial Compliance Report of the Company for the year ended 31st March, 2021, issued by MKB &amp; Associates, Practicing Company Secretaries.</p><p align="justify">The above information is a part of company's filings submitted to BSE.</p>
01-Jun-2021 Magma Fincorp's consolidated net loss widens to Rs 648 crore in Q4 <p align="justify">Magma Fincorp has reported results for fourth quarter and year ended March 31, 2021.<p align="justify">The company has reported net loss of Rs 625.91 crore for the quarter under review against net loss of Rs 35.35 crore for the same quarter in the previous year. Total income of the company decreased by 14.90% at Rs 446.30 crore for Q4FY21 as compared Rs 524.42 crore for the corresponding quarter previous year.<p align="justify">On the consolidated basis, the company has reported net loss attributed to shareholders of Rs 647.72 crore for the quarter under review against net loss of Rs 35.51 crore for the same quarter in the previous year. Total income of the company decreased by 4.94% at Rs 587.14 crore for Q4FY21 as compared Rs 617.62 crore for the corresponding quarter previous year.<p align="justify">For the year ended March 31, 2021, the company has reported net loss at Rs 578.36 crore against net loss of Rs 10.01 crore for the previous year. Total income of the company decreased by 15.42% at Rs 1,876.85 crore for year under review as compared to Rs 2,219.03 crore for year ended March 31, 2020.<p align="justify">For the year ended March 31, 2021, on the consolidated basis, the company has reported net loss attributed to shareholders of Rs 558.96 crore against net profit of Rs 27.05 crore for the previous year. Total income of the company decreased by 8.21% at Rs 2,352.48 crore for year under review as compared to Rs 2,562.88 crore for year ended March 31, 2020.</p>
01-Jun-2021 Magma Fincorp touches roof despite reporting consolidated net loss of Rs 648 crore in Q4 <p align="justify">Magma Fincorp is currently trading at its upper circuit limit of Rs. 143.05, up by 6.80 points or 4.99% from its previous closing of Rs. 136.25 on the BSE.<p align="justify">The scrip opened at Rs. 143.05 and has touched a high and low of Rs. 143.05 and Rs. 143.05 respectively. So far 140400 shares were traded on the counter.<p align="justify">The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 147.90 on 10-May-2021 and a 52 week low of Rs. 13.70 on 01-Jun-2020.<p align="justify">Last one week high and low of the scrip stood at Rs. 143.05 and Rs. 129.00 respectively. The current market cap of the company is Rs. 10933.90 crore.<p align="justify">The promoters holding in the company stood at 24.39 % while Institutions and Non-Institutions held 48.72 % and 26.89 % respectively.<p align="justify">Magma Fincorp has reported net loss of Rs 625.91 crore for the quarter ended March 31, 2021 against net loss of Rs 35.35 crore for the same quarter in the previous year. Total income of the company decreased by 14.90% at Rs 446.30 crore for Q4FY21 as compared Rs 524.42 crore for the corresponding quarter previous year.<p align="justify">On the consolidated basis, the company has reported net loss attributed to shareholders of Rs 647.72 crore for the quarter ended March 31, 2021 against net loss of Rs 35.51 crore for the same quarter in the previous year. Total income of the company decreased by 4.94% at Rs 587.14 crore for Q4FY21 as compared Rs 617.62 crore for the corresponding quarter previous year.<p align="justify">For the year ended March 31, 2021, the company has reported net loss at Rs 578.36 crore against net loss of Rs 10.01 crore for the previous year. Total income of the company decreased by 15.42% at Rs 1,876.85 crore for year under review as compared to Rs 2,219.03 crore for year ended March 31, 2020.<p align="justify">For the year ended March 31, 2021, on the consolidated basis, the company has reported net loss attributed to shareholders of Rs 558.96 crore against net profit of Rs 27.05 crore for the previous year. Total income of the company decreased by 8.21% at Rs 2,352.48 crore for year under review as compared to Rs 2,562.88 crore for year ended March 31, 2020.</p>
31-May-2021 Magma Fincorp informs about allotment equity shares under ESOP <div align="justify"><span>Magma Fincorp has informed that the Nomination and Remuneration Committee of the Board of Directors of the Company at its meeting held on 31 May 2021, has allotted 1009649 Equity Shares of face value of Rs 2 each at a exercise price of Rs 2, Rs 39.45 &amp; Rs 60 per share to the eligible employees of the Company under Magma Employee Stock Option Plan 2007. Pursuant to this allotment, the issued, subscribed and paid-up equity share capital of the Company will stand increased to Rs 152,86,81,294 consisting of 76,43,40,647 Nos.</span></div><font face="sans-serif"><span><div align="justify"><br></div></span></font><div align="justify"><font face="sans-serif"><span>The above information is a part of company's filings submitted to BSE.</span></font></div>
29-May-2021 Magma Fincorp informs about conference call <p align="justify">Further to its letter dated 17 May 2021 and pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Magma Fincorp has informed that it has enclosed the details of the conference call that will he held on May 31, 2021. Transcript of the conference call shall be uploaded on the Company's Website at www.magma.co.in. </p><p align="justify">The above information is a part of company's filings submitted to BSE.</p>
24-May-2021 Announcement under Regulation 30 (LODR)-Post Offer Public Announcement Intimation under Regulation 47 and 30 (LODR) Regulation 2015
24-May-2021 Post Offer Advertisement Axis Capital Ltd ("Manager to the Offer") has submitted to BSE a copy of Post Offer Advertisement under Regulation 18(12) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended ("SEBI (SAST) Regulations") for the attention of the Public Shareholders of Magma Fincorp Ltd ("Target Company").