Goodyear tire rubber company follow on equity issue

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Goodyear tire rubber company follow on equity issue

There is huge headroom to grow -provided the funding constraints get adequately addressed. With the steps Management has been taking, RoA looks set to improve in near to medium term. Extreme Focus on write-offs recovery — MCS is again probably unique in its focus of trying to ensure recovery of every rupee that is written off.

Cases are filed and in due course company is confident of recovering loan amounts due along with legal costs and charges.

Management opines this will help the company monitor income and expenses more granularly and modify policies for getting the best productivity — locations-wise and team-wise. Cross-selling within Fincorp customer base — Fincorp has a customer base exceeding 3.

Effective cross-selling may become possible once Fincorp group database becomes available post automation in FY15 and may provide a kicker to Sales growth. The situation has got accentuated on 2 fronts. Secondly there is enormous duplication of excel-based data-entry work between Operation Hubs and Back-Office in the absence of enterprise-wide automation.

Company has been cognizant of the second front and has been working to introduce fully-automated Loan Origination System covering Sales, Operations and Credit processes from April -planned to be fully operational by end of Q1FY Delay in Bank Funding — Disbursements have been hampered by delayed funding availability from Banks.

Typically Bank Limits are enhanced based on the current Balance Sheet. Monthly Sales at vehicles is now down to vehicles per month. They have moved out completely from the Gold Loan business.

They deserve a standalone MCS rating which they feel merits much better rating — that may alleviate its funding constraints in a major way. Single Product dependency — MCS product portfolio currently comprises of only 2 wheeler and 3 wheeler loans. With 3 wheeler NPAs rising company is consciously cutting back on 3 Wheeler loans.

Dependency is very heavy on 2 wheeler loans. Going forward the company has to look at product diversification for better risk-adjusted growth profile. Raising Tier I Equity Capital is probably not an active option for the company cf.

Goodyear tire rubber company follow on equity issue

In the event that either of these start their own financing arms — and provide preferential access to financing from their dealerships — MCS prospects can be affected significantly. A web-based collection module of MCS provides access to customer details and payment schedules, etc.

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Leveraging widespread Fincorp network — With a growing pan-india network of more than branches — this is at the heart of the efficient collection system for MCS. MCS can simply piggy-ride this expanding retail network and does not really need to set up this infrastructure of its own as it scales up.

This will go way a long way in ensuring Margin Requirements with Banks and pave the way for enhanced Term Loans availability for the company.

Goodyear tire rubber company follow on equity issue

Part of a much larger group automation project standard operating procedures SOPs have been defined by IBM in consultation with functional departments over the last 2 years.

Apart from providing single-source unified MIS views, this is likely to bring in huge operational efficiencies and savings in FY Started only a year back, all Fincorp branch personnel have now been trained.

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population. The first significant numbers arrived in the s in New York and timberdesignmag.com eight million German immigrants have entered the United States since that point.

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