DCM Financial Services Limited
Add to watch list to get report alerts
BSE Code:
511611
NSE Code:
DCMFINSERV
Business Profile
Business Profile
Incorporated in 1991, DCM Financial Services is promoted by DCM group and headed by Dr Bharat Ram. DFS is a subsidiary of DCM International Limited, which in turn is wholly owned subsidiary of DCM Ltd.
The Company is a Non-Banking Financial Company and is governed by the Non- Banking Financial Companies (Reserve Bank) Directions, 1977, issued by the Reserve Bank of India.
The company is engaged in leasing and hire purchase, money market operations and real estate.
In leasing, the company`s main business is LCV financing and HCV financing. The company boasts of business in excess of Rs.24 crores, representing 1029 vehicles and 861 customers. The company has also intorduced new services like viz Stock Broking, Bill discounting, Inter Corporate Financing, Advisory services, Equity research, Bridge Financing etc.
Recent Developments
In March FY02, a massive fire broke out due to an electric short circuit on March 20 & 21, 2002. The documents, file and records relating to Secretarial, Legal and other departments were completely burnt.
Mr. S.N.Sharma, Managing Director and Mr. Vivek Bharat Ram, Director, resigned from the Board of Directors of the Company with effect from December 11, 2001. Mr. S.N.Sharma has been appointed as Senior President cum Chief Executive Officer of the Company while Mr. R D Sharma was appointed as an Additional Director of the Company.
Mr Arif Baig was appointed as Additional Director and Chairman of the Board of Directors of the company with effect from October 31, 2001.
In FY01, shareholders of DCM Financial had approved preferential allotment of shares to the promoters and individuals.
In FY00, DCM Financial Services`s board had approved the modification to the scheme of arrangement for reorganisation of the share capital of the Company and for compromise with its secured and unsecured creditors. Consequently, in Dec FY01, DCM Financial files an appeal before the division bench of the Delhi High Court. The move was in the wake of the Delhi High Court`s decision to dispose off DCM Financial Services Limited`s scheme of re-organisation of share capital and compromise and arrangement with its secured and unsecured creditors, without sanctioning it.
Future Plans
The Company has made a modest beginning in the field of IT related activities in the area of Technical support services, ERP Implementation and other IT related activities. It also plans to foray into e-learning, Data/Call center and Data Management business. These areas are expected to offer good growth opportunity in the future.