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Repco Home Finance Ltd
Background
Repco Home Finance Ltd is one of the south based home finance company backed by a PSU bank Repco Bank. Of late, the company has been trying to expand its horizons beyond the semi urban southern areas, to reach out direct customers from Orrisa, WB, Gujarat and nearby states. The company has an outstanding loan book of around Rs 3545 crore, which is likely to show a growth following the IPO it made in 2012-13. Even after getting a tepid listing, the company’s stock has shown signs of healthy growth, and has since not looked back to offer a good returns to its QIB investors and retail participants in IPO. In the financial year 2012-13, this was one of the very limited IPOs to have sailed through smoothly amidst rough market sentiments.

Highlights
Sales Turnover: Rs 405 crore
PBT: Rs 106 crore
PAT: Rs 80 crore
Net Worth: 635 crore
Business Lines: Housing Finance
Website: http://www.repcohome.com/

Striking features of the report
Like some other PSU companies, Repco Home Finance lacks any theme or cover punch line in its maiden annual report following the IPO. It however, has a comprehensive index and Corporate Information carrying all details of company. Though the company’s annual report lacks information and narratives on the kind of business it performs, yet the Chairman’s Statement and MDA are very comprehensive and give all information and graphs on the growth path of company over the past five years, in terms of loans approved, disbursed, and the mix of financing it has used to disburse the housing loans and loans against property.

The MDA briefly touches upon the IPO which the company made towards the close of last financial year, and how it may benefit out of same. The company has listed out a detailed risk and mitigation factors, apart from internal controls in place. The financial information analysis including the spreads, capital adequacy and net non performing assets have also been highlighted with the help of graphs. The length of the annual report is also brief, possibly in absence of many subsidiaries.
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