Baid Finserv Reports Significant Growth in NBFC Sector

Baid Finserv Limited has released its annual report for the fiscal year 2023-24, highlighting substantial growth in the Non-Banking Financial Company (NBFC) sector. The company has played a pivotal role in providing credit to underserved market segments, which traditional banks often overlook.

By offering innovative financial products and long-term financing solutions, Baid Finserv has significantly contributed to the economic development and financial inclusion of rural and semi-urban areas.

The report emphasizes the company's efforts in vehicle financing and loans against property, showcasing tailored financial solutions that prioritize customer aspirations over strict credit histories. As NBFCs continue to bridge the credit gap left by conventional banking systems, Baid Finserv's strategic initiatives and customer-centric approach have positioned it as a key player in India's financial landscape.

Baid Finserv to Hold AGM on July 16th 

Baid Finserv Limited will hold its 33rd Annual General Meeting (AGM) on Tuesday, July 16, 2024, at 3:00 PM through Video Conferencing (VC) and Other Audio Visual Means (OAVM). The meeting will cover several important business items:

1. Adoption of Financial Statements: The company will adopt the audited financial statements for the fiscal year ending March 31, 2024, along with the reports from the Board of Directors and Auditors.
2. Declaration of Final Dividend: A final dividend of Rs. 0.10 per equity share (5% of the equity share of Rs. 2 each) is proposed for the financial year 2023-24.
3. Appointment of Director: Mrs. Alpana Baid, the Non-Executive Director, will be reappointed as she retires by rotation and is eligible for reappointment.

For further details and to view the Annual Report and Notice of the AGM, members can visit the company's website. The soft copy of the AGM notice and Annual Report has been emailed to members who have registered their email addresses.

You can find AGM notice and Annual Report here.

Baid Finserv Annual Report 

Biad Fin Serv has released its Annual report with key financial metrics for the shareholders and general public. Lets look at some the metrics here.

Key Financial Metrics:

1. Distribution of Shareholding as on 31st March 2024:
   • Total Shareholders: 13,573
   • Total Shares: 120,068,300
   • Dematerialized Shares: 99.35% of total capital
     • CDSL: 68.09%
     • NSDL: 31.26%
   • Shareholding Distribution:
     • 1-500 shares: 70.18%
     • Above 10,000 shares: 92.45%
2. Property, Plant, and Equipment (as of 31st March 2024):
   • Furniture & Fixture:
     • Gross Block: ₹50.19 million
     • Net Block: ₹13.06 million
   • Vehicles (2-wheelers):
     • Gross Block: ₹2.31 million
     • Net Block: ₹0.49 million
   • Office Equipment:
     • Gross Block: ₹7.85 million
     • Net Block: ₹0.62 million
   • Computers:
     • Gross Block: ₹40.45 million
     • Net Block: ₹11.60 million

Key Strengths:

1. High Dematerialization Rate:
   • 99.35% of shares are dematerialized, showing strong compliance with modern trading standards.
2. Diversified Shareholding Structure:
   • Significant shareholding distribution across different ranges, with major holdings above 10,000 shares indicating strong investor confidence.
3. Robust Asset Base:
   • Substantial investment in property, plant, and equipment, ensuring robust operational infrastructure.
4. Strategic Investments:
   • Equity investments are designated under FVOCI, with changes in fair value recorded in OCI, providing strategic financial positioning.

Key Weaknesses:

1. Concentration of Shares:
   • 92.45% of shares are held by those with more than 10,000 shares, indicating potential vulnerability to large shareholder movements.
2. Depreciation of Assets:
   • Certain assets like computers and office equipment show significant depreciation, potentially indicating high replacement costs.

The analysis covers key financial metrics, strengths, and weaknesses based on the provided sections of the annual report. 

Baid Finserv Limited

Baid Finserv Limited (BAIDFIN) is a Non-Deposit Taking NBFC (Base Layer) specializing in secured MSME loans, vehicle loans, and insurance products. Founded in 1991 and based in Jaipur, the company has over 30 years of experience in serving customers in semi-urban and rural areas of Rajasthan. They are now expanding to Madhya Pradesh and Gujarat.

With a strong customer base of more than 50,000 clients across various business sectors, Baid Finserv is committed to enhancing its services to meet the growing needs of its clients. The company plans to expand its operations in Maharashtra by the end of the second quarter of FY25, aiming to capitalize on increasing funding opportunities in under-banked semi-urban and rural regions.