| FINANCIAL POSITION
A statement
showing the financial performance of Maharashtra State Financial Corporation
for the FY'97 & FY'98 is given below :
| (Rs.
in core) |
| FINANCIAL
SUMMARY |
1997-98 |
1996-97 |
| Gross
Income |
175.86 |
177.60 |
| Interest
on Borrowings |
150.56 |
145.10 |
| Operating
Expenses |
21.50 |
23.94 |
| Other
Expenses |
5.02 |
9.69 |
| Provision
- Bill Discounting |
- |
21.26 |
| Total |
177.08 |
199.99 |
| Pre-tax
Profit |
(1.22) |
(22.39) |
| Post-tax
Profit |
(1.22) |
(22.39) |
| RESOURCES |
During
the year |
As
on 31.3.1998 |
During
the year |
As
on 31.3.1997 |
| Share
Capital |
- |
61.40 |
- |
61.40 |
| Loans
in lieu of Share |
|
|
|
|
| Capital |
- |
4.11 |
- |
4.11 |
| Bonds |
29.57 |
367.36 |
30.10 |
337.79 |
| Refinance
from IDBI/SIDBI(Net) |
(1.15) |
511.06 |
52.23 |
512.21 |
| STL/New
Debt Instruments from SIDBI |
40.37 |
42.00 |
- |
1.63 |
| Temp.
Borrowings from PSUs |
(94.50) |
82.50 |
25.90 |
177.00 |
| Repayments
of Principal (Term
Loan) |
172.48 |
- |
182.95 |
- |
| Total |
146.77 |
|
291.18 |
|
SANCTIONS
AND DISBURSEMENTS
| (Rs.
in crore) |
| |
|
|
1997-98 |
1996-97 |
| |
|
|
No. |
Amount |
No. |
Amount |
| SANCTIONS |
|
|
|
|
|
|
| Maharashtra |
465 |
119.82 |
1416 |
226.52 |
| Goa |
31 |
10.24 |
32 |
16.73 |
| Daman
& Diu |
7 |
3.61 |
12 |
8.66 |
| Total |
503 |
133.67 |
1460 |
251.91 |
| Sizewise
Sanctions |
|
|
|
|
|
| Small
Scale |
409 |
109.47 |
1256 |
165.94 |
| Other
than SSI |
94 |
24.20 |
204 |
85.97 |
| Total |
503 |
133.67 |
1460 |
251.91 |
| Areawise
Sanctions |
|
|
|
|
|
| Backward |
197 |
50.01 |
249 |
60.55 |
| Other
Developing areas |
242 |
59.34 |
409 |
95.58 |
| Developed
areas |
64 |
24.32 |
802 |
95.78 |
| Total |
503 |
133.67 |
1460 |
251.91 |
| DISBURSEMENTS |
|
|
|
|
|
|
| Maharashtra |
- |
119.28 |
- |
245.55 |
| Goa |
- |
8.10 |
- |
22.00 |
| Daman
& Diu |
- |
2.02 |
- |
7.84 |
| Total |
- |
129.40 |
- |
275.57 |
Disbursements
The
Corporation disbursed Term Loans of Rs. 129.40 crore during the year 1997-98.
By March-end 1998, the cummulative disbursemets by the Corporation have
reached a level of Rs. 2535.98 crore, inclusive of Term Loans of Rs. 2266.46
crore.
Industry-wise
classification of loans sanctioned and disbursed
| Type
of Industry |
1996-97 |
1997-98 |
| |
Sanctions |
Disburs. |
Sanctions |
Disburs. |
| |
No. |
Amount |
Amount |
No. |
Amount |
Amount |
| Mining
and Quarrying |
2 |
42.00 |
54.49 |
8 |
178.70 |
68.95 |
| Food
Mfg. Industry except Beverage Industry |
68 |
1876.10 |
1984.33 |
47 |
1437.89 |
1104.74 |
| Mfg.
of Textiles |
23 |
1280.42 |
693.73 |
19 |
705.58 |
982.47 |
| Mfg.
of Footwear & other wearing apparels & made up textile goods |
502 |
228.00 |
221.85 |
1 |
5.80 |
43.90 |
| Mfg.
of wood & Cork except Mfg. of Furniture |
6 |
295.45 |
274.73 |
1 |
36.00 |
59.20 |
| Mfg.
of Furniture & Fixtures |
- |
- |
- |
1 |
5.20 |
17.80 |
| Mfg.
of Paper & Paper Products |
27 |
717.62 |
1835.32 |
11 |
144.40 |
844.23 |
| Printing,
Publishing Printing, Publishing & Allied Industries |
28 |
606.92 |
560.98 |
16 |
144.96 |
275.20 |
| Mfg.
of Leather & Leather Products |
2 |
19.60 |
3.67 |
2 |
8.35 |
3.11 |
| Mfg.
of Rubber Products |
13 |
123.54 |
405.06 |
18 |
346.15 |
140.37 |
| Mfg.
of Chemical & Chemical Products |
143 |
3433.32 |
5407.28 |
39 |
1776.65 |
1809.58 |
| Mfg.
of Products of Petroleum & Coal |
5 |
255.85 |
104.69 |
1 |
50.00 |
- |
| Mfg.
of Non-metallic & Mineral Products |
28 |
247.10 |
404.50 |
12 |
141.34 |
147.69 |
| Basic
Metal Industries |
14 |
674.05 |
375.13 |
3 |
25.72 |
334.77 |
| Mfg.
of Metal Products |
158 |
4375.08 |
5483.50 |
97 |
3076.76 |
2759.62 |
| Mfg.
of Machinery except Elect. Machinery |
54 |
933.43 |
456.33 |
20 |
693.73 |
474.64 |
| Mfg.
of Electrical Machinery |
30 |
952.02 |
395.15 |
12 |
231.35 |
275.81 |
| Mfg.
of Transport Equipments |
16 |
505.40 |
240.55 |
3 |
205.00 |
396.11 |
| Misc.
Mfg. Industry & Others |
234 |
5288.09 |
5643.40 |
135 |
2628.14 |
1731.19 |
| Electricity,
Gas, Steam & Sanitary Services |
2 |
55.40 |
12.37 |
4 |
191.90 |
33.15 |
| Hotel
Industry |
71 |
2597.34 |
2397.53 |
50 |
1320.66 |
1291.62 |
| Transport
Industry |
|
|
|
|
|
|
| Road
Transport |
25 |
81.26 |
113.84 |
3 |
12.75 |
4.11 |
| Water
Transport |
2 |
160.00 |
202.60 |
- |
- |
139.50 |
| Beverage
Industry |
2 |
9.50 |
134.85 |
- |
- |
5.55 |
| Industrial
Estates |
2 |
390.00 |
151.00 |
- |
- |
- |
| Motion
Picture & Distribution |
3 |
43.55 |
- |
- |
- |
15.00 |
| TOTAL |
1460 |
25191.04 |
27556.88 |
503 |
13367.03 |
12940.31 |
Recovery
The
Corporation gave high degree of emphasis on recovery of dues which has
assumed critical importance as a source for augmentation of resources of
the Corporation. In spite of the concerted efforts made during the year
1997-98, the recovery for the year amounted to Rs. 340.77 crore against
recovery of Rs. 348.47 crore during the previous year.
The
amount in arrears at the beginning of the year Rs. 274.51 (181.39) crore.
During the year, an amount of Rs. 478.61 (446.29) crore fell due for payment.
The recovery effected during the year towards total demand of Term Loans
was Rs. 305.65 (326.68) crore comprising of Rs. 226.98 (268.98) crore out
of current demand and Rs. 78.67 (58.16) crore out of arrears at the beginning
of the year. Considering the reschedulement of loans and amount written
off/waived, arreas at the end year were Rs. 432.30 (274.51) crore. The
percentage of recovery out of current demand was 47.90 (60.88) per cent
and the percentage of total recovery to net total demand was 41.42 (52.81)
per cent.
(Figures
in brackets pertain to the previous year).
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