DCM Financial Services Ltd

Incorporated in Feb.'91 and promoted by the DCM Group, DCM Financial Services Limited (DFSL) started its auto-finance business in Mar.'94. DFSL was further authorized with a Category-I Merchant Banking registration by the Securities and Exchange Board of India (SEBI). It offered well-diversified portfolio services equipment leasing, hire-purchase, inter-corporate deposits, bill discounting, etc. to its fast-growing list of clients. To augment its long-term resources, strengthen its merchant banking activities and expand its fund-based activities, an equity issue at a premium was made in 1994-95. The company's post-issue equity stands at Rs 12.94 cr, and net worth, at Rs 23.74 cr. Its future plans include financing DCM-Daewoo cars. The other areas of focus are merchant banking and financial advisory services. Portfolio management services for individual investors is also on the cards. In 1995-96, the credit rating of the company was upgraded to the high-safety - AA - category from the level of adequate safety. During the year, the branch network was expanded and strengthened to achieve better access in the market. During 2000-2001 the company had entered into IT related activities and the income generated from the fields are such as Technical support services, ERP implementation and other IT related activities. Presently, it is in the process of restructuring its operations/assets & liabilities and will recommence its new business operations on completion of this exercise.