Sundaram Finance looks to grow AUM beyond Rs 50,000 crore in 3 years
The Chennai-based non-banking finance company is looking to scale up SME lending share to 8-10 per cent share from present two per cent over the medium term30-11-2022
30-11-2022
Sundaram Home Finance to revise interest rates on fixed deposits from Dec 1
Sundaram Home Finance would revise its interest rates on fixed deposits for trusts, individuals and senior citizens with effect from December 1, the company said on Tuesday. Accordingly, the city-headquartered firm, a wholly owned subsidiary of Sundaram Finance Ltd, would revise the rates by 50 basis points across trusts, individuals 7.15 per cent as against 6.65 per cent, senior citizens 7.50 per cent as against 7 per cent, on deposits for 12 months. The company, for senior citizens, would revise the interest rates to 7.50 per cent as against 7.35 per cent for tenures of 24 months, 7.80 per cent from 7.65 per cent (36 months) and 8 per cent from 7.90 per cent for 48 months. For Trusts, the interest rates have been increased to 7.15 per cent for 24 months earlier 7 per cent, 7.80 per cent as against 7.65 per cent for 36 months and 8 per cent for tenures of 48 months as against 7.90 per cent. The rates, for individuals other than senior citizens, have been increased to 7.15 per cent29-11-2022
Sundaram Finance to revise interest rates on deposits from November 16
Non-banking finance company Sundaram Finance on Saturday said the firm would revise interest rates on deposits for the general public and senior citizens with effect from November 16. For the public, the rate on one-year deposits would be 7.15 per cent against the existing 6.65 per cent; for 24 months it would be 7.15 per cent against 7 per cent; and for deposits of 36 months, it would remain unchanged at 7.30 per cent, a statement from the company said here. For senior citizens, the rate on deposits of one year would be 7.50 per cent as against 7 per cent; and for deposits up to 24 months, the rate would be 7.50 per cent against 7.35 per cent. For deposits of 36 months, the interest rates would be 7.80 per cent against 7.65 per cent, the company said. The current deposit balance as of October 31, 2022 stood at Rs 4,273 crore, the company said.12-11-2022
Q2FY23 Quarterly Result Announced for Sundaram Finance Ltd.
Sundaram Finance announced Q2FY23 results: Standalone for H1FY23: Disbursements for H1FY23 recorded a growth of 77% to Rs 10,034 crore as compared to Rs 5,681 crore registered in H1FY22. Disbursements for Q2FY23 recorded a growth of 42% to Rs 5,139 crore as compared to Rs 3,621 crores in Q2FY22. The assets under management stood at Rs 31,980 core as on September 30, 2022, as against Rs 29,811 in 2021; up by 7.3%. The total restructured assets under Covid relief measures enabled by the Reserve Bank of India were at Rs 927 crore, about 2.9% of the loan outstanding, as on September 30, 2022. Gross stage 3 as on September 30, 2022 stood at 2.54% with 47% provision cover as against 3.45% with provision cover of 39% as on September 30, 2021. Net stage 3 as on September 30, 2022 closed at 1.37% as against 2.12% as on September 30, 2021. The Gross and Net NPA are 4.29% and 2.97% respectively (as per old norms, the Gross and Net NPA are 2.67% and 1.48% respectively) as against 3.85% and 2.48% as of September 30, 2021. The cost-to-income ratio closed at 31.67% in H1FY23 as against 29.13% in H1FY22. Profit after tax registered a 32% rise in H1FY23, with net profit at Rs 529 crore. The company had registered a net profit of Rs 402 crore in H1FY22. Profit after tax registered a 44% increase in Q2FY23, with net profit at Rs 303 crore as compared to Rs 211 crore in Q2FY22. Return on assets (ROA) for H1FY23 closed at 2.9% as against 2.3% for H1FY22. Return of equity (ROE) was at 14.9% for H1FY23 as against 12.7% for H1FY22. If we exclude investments in subsidiaries and group companies, core ROE was at 16.4% for H1FY23 as against 15.4% for H1FY22. The capital Adequacy Ratio stood at 24.3% (Tier 1 - 18.2%) as of, September 30, 2022, compared to 23.4% (Tier 1 - 16.3%) as of September 30, 2021. Consolidate H1FY23: The assets under management (AUM) in our lending and general insurance businesses stood at Rs 49,601 cores as on September 30, 2022, as against Rs 46,190 crore as on September 30, 2021. The assets under management of our asset management business stood at Rs 52,561 crore as on September 30, 2022 as against Rs 43,057 crore as on September 30, 2021. Profits after tax for H1FY23 were Rs 552 crore as compared to Rs 545 crore in H1FY22. Result PDF07-11-2022
SUNDARAM FINANCE LTD. - 590071 - Statement of Related Party Transactions under Reg. 23(9) of SEBI (LODR) Regulations, 2015
Sundaram Finance Ltd has submitted to BSE a copy of Statement of Related Party Transactions in accordance with Reg. 23(9) of SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter and half year ended September 30, 2022.07-11-2022
SUNDARAM FINANCE LTD. - 590071 - Results Press Release for September 30, 2022
Sundaram Finance Ltd has informed BSE about : 1. Result Press Release for the period ended September 30, 202207-11-2022
SUNDARAM FINANCE LTD. - 590071 - Standalone & Consolidated Financial Results, Limited Review Report for September 30, 2022
Sundaram Finance Ltd has informed BSE about : 1. Standalone Financial Results for the period ended September 30, 20222. Consolidated Financial Results for the period ended September 30, 20223. Standalone Limited Review for the period ended September 30, 20224. Consolidated Limited Review for the period ended September 30, 20225. Standalone Cash Flow Statement for the period ended September 30, 20226. Consolidated Cash Flow Statement for the period ended September 30, 202207-11-2022
Sundaram Finance increases interest rates on term deposits
Senior citizens will get an additional interest of 0.35 per cent for one, two and three years,respectively. i.e,7.00 per cent15-10-2022
SUNDARAM FINANCE LTD. - 590071 - Closure of Trading Window
Sundaram Finance Ltd has informed BSE regarding "Closure of Trading Window".30-09-2022
SUNDARAM FINANCE LTD. - 590071 - Clarification sought from Sundaram Finance Ltd
The Exchange has sought clarification from Sundaram Finance Ltd on September 26, 2022, with reference to Movement in Volume.The reply is awaited.26-09-2022