magma fincorp ltd (MGMA) Snapshot

Magma Fincorp Limited (NSEI:MAGMA) plans to raise INR 5 billion through an equity offering in 2013-14 (April-March) and has taken an enabling resolution for this fund raising, Chief Financial Officer V. Lakshmi Narasimhan told Cogencis. "It will depend on how the markets are doing. If it happens it may be in the second half, but like I said, it will depend on the market conditions," he said. Along with equity, Magma is also looking to raise INR 1.5 to 2 billion via subordinated debt in the current financial year. As a result of its strong quarterly performance, shares of Magma ended up 7.92% at INR 94.75 on the National Stock Exchange.

Magma Fincorp Limited announced that the board of directors of the company at its meeting held on May 8, 2013 proposed, subject to the approval of the shareholders at the annual general meeting dividend as: (1) On equity share at 40%, INR 0.80 per equity share of the face value of INR 2 each; (2) On preference shares: (a) 9.7%, INR 9.70 pro-rata per share dividend on 2,109,199 Cumulative Non-Convertible Redeemable Preferences Shares Of INR 60 each for the period from April 01, 2012 to February 17, 2013 and 9.7% on 2,109,199 Cumulative Non-Convertible Redeemable Preference Shares of INR 40 each (reduced to INR 40 upon redemption of second installment of INR 20 each per share on February 17, 2013) for the period from February 18, 2013 to March 31, 2013. b) 5%, INR 5 per share dividend on 3,000,000 Cumulative Non-convertible Redeemable Preference Shares of INR 100 each; c) 3.76%, INR 3.76 per share dividend on 6,500,999 Cumulative Non-Convertible Redeemable Preference Shares of INR 100 each; d) 12%, INR 12 per share dividend on 2,500,000 Cumulative Non-Convertible Redeemable Preference Shares of INR 100 each. e) 9.6%, INR 9.60 per share dividend on 1,000,000 Cumulative Non-Convertible Redeemable Preference Shares of INR 100 each f) 1%, INR 1 pro-rata per share dividend on 2,109,199 Cumulative Non-Convertible Redeemable Preference Shares of INR 80 each for the period from April 1,2011 to February 17, 2012 and 1 on 2,109,199 Cumulative Non-Convertible Redeemable Preference Shares of INR 60 each (reduced to INR 60 upon redemption of the first installment of INR 20 each per share on Feb. 17, 2012) for the period from February18, 2011 to March 31, 2011 and g) 11%, INR 11 pro-rata per share dividend on 3,600,000 Cumulative Non-Convertible Redeemable Preference Shares of INR 100 each for the period from December 11, 2012 to March 31, 2013.

Magma Fincorp Limited announced audited standalone earnings results for the fourth quarter and full year and unaudited consolidated earnings results for the fourth quarter and audited results for the ended March 31, 2013. For the quarter, on standalone basis, the company announced revenue from operations of INR 4,394.685.685 million compared to INR 2,844.077 million a year ago. Profit from operations before other income, finance costs and exceptional items were INR 2,825.753 million compared to INR 1,749.204 million a year ago. Profit from ordinary activities before tax was INR 616.539 million compared to INR 180.270 million a year ago. Net profit from ordinary activities after tax was INR 432.682 million or INR 2.03 per diluted share compared to INR 191.258 million or INR 0.85 per basic and diluted share a year ago. For the year, on standalone basis, the company announced revenue from operations of INR 15,109.532 million compared to INR 9,753.702 million a year ago. Profit from operations before other income, finance costs and exceptional items were INR 9,713.631 million compared to INR 6,313.249 million a year ago. Profit from ordinary activities before tax was INR 1,791.571 million compared to INR 820.753 million a year ago. Net profit from ordinary activities after tax was INR 1,227.997 million or INR 5.74 per diluted share compared to INR 632.423 million or INR 2.94 per diluted share a year ago. For the quarter, on consolidated basis, the company announced revenue from operations of INR 4,787.018 million compared to INR 3,026.453 million a year ago. Profit from operations before other income, finance costs and exceptional items were INR 1,856.248 million compared to INR 1,913.186 million a year ago. Profit from ordinary activities before tax was INR 653.502 million compared to INR 275.335 million a year ago. Net profit after taxes and minority interest was INR 441.457 million or INR 2.08 per basic and diluted share compared to INR 238.274 million or INR 1.10 per basic and diluted share a year ago. For the year, on consolidated basis, the company announced revenue from operations of INR 16,152.920 million compared to INR 10,314.759 million a year ago. Profit from operations before other income, finance costs and exceptional items were INR 10,441.469 million compared to INR 6,806.133 million a year ago. Profit from ordinary activities before tax was INR 2,124.796 million compared to INR 1,037.131 million a year ago. Net profit after taxes and minority interest was INR 1,382.429 million or INR 6.55 per diluted share compared to INR 740.083 million or INR 3.56 per basic and diluted share a year ago.