Global Trade Finance Ltd. (GTF), India’s leading standalone factoring company, has reported a 155 % jump in its net profit at Rs 73.6 crores for the financial year ended March 31, 2008, as against Rs 28.9 crores in the corresponding period last year.

The Non-Banking Finance Company (NBFC), which is into trade financing in the Business-to-Business (B2B) segment, has registered a robust 79% growth in its turnover at Rs 11,124 crores in FY 2007-08 as against Rs 6214 crores in FY 2006-07.GTF’s Factored Assets Outstanding grew by 83% to stand at Rs 3196 crores as of March 31, 2008 as against Rs 1750 crores as of March 31, 2007.

The company continues to maintain net Non-Performing Assets (NPAs) at zero levels, indicating proper due diligence and active debt management. This is especially commendable as GTF is a Small and Medium Enterprises (SMEs) focused company, with over 51% of its business coming from the segment.

Mr. Arvind Sonmale, MD & CEO of Global Trade Finance Ltd, said, “Our unflinching focus on the SME segment has paid dividends. We have proved, beyond doubt, that there is fortune waiting to be tapped at the middle of the Indian corporate pyramid.”

The strong performance of GTF is reflected in the key financial parameters. As of March 31, 2008, the NBFC’s Return on Equity Capital was 86.38%; Return on Net Worth: 40.52 %; Return on Assets: 2.21%; Cost-Income Ratio: 30.33%; Turnover per employee: Rs 103 crores; and Profit per employee: Rs 1.05 crores.

GTF is a market leader in the export and import factoring business in India. The Company has over 90% market share in the Import Factoring business in India. It also commands more than 85% market share in the Export factoring business. The market share in International Factoring adds up to more than 88%.

Towards the end of the financial year 2007-2008, GTF saw a major change in its shareholding structure. State Bank of India (SBI) acquired 92.03% stake, with Bank of Maharashtra holding the balance stake.

In a move to further extend its services to SMEs, GTF has signed a Memorandum of Understanding (MoU) with the SME Rating Agency of India Ltd (SMERA) to offer credit rating services to its SME clients. Under the MOU, up to 20% of the rating fees are reimbursed by GTF to registered SSIs. This is besides 75% of fees being reimbursed by the National Small Industries Corporation Ltd (NSIC).

Sourced From: Adfactors Public Relations Pvt Ltd

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