Edelweiss Financial Services Limited
Previously known as Edelweiss Capital Limited, Edelweiss Financial Services Limited (“EFSL”) was incorporated in 1995 by Mr. Rashesh Shah and Mr. Venkat Ramaswamy. Edelweiss Capital Limited started operations as an investment banking firm after receipt of a Category II license from SEBI. Edelweiss Capital Limited subsequently received a Category I Merchant Banker license from SEBI with effect from October 16, 2000. The name of Edelweiss Capital Limited was changed to ‘Edelweiss Financial Services Limited’ with effect from August 1, 2011. EFSL is the parent company of the Edelweiss Group. EFSL is promoted by Mr. Rashesh Shah and Mr. Venkatchalam Ramaswamy holds 15.44% and 6.16% of equity respectively.
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| Name | Issue Size | Maturity | Coupon |
|---|---|---|---|
| Edelweiss Financial Services Limited | 650.00Cr | 05 Oct 2023 | 11.00 % |
| Edelweiss Financial Services Limited | 73.70Cr | 28 Dec 2023 | 8.75 % |
| Edelweiss Financial Services Limited | 11.94Cr | 28 Dec 2023 | - |
| Edelweiss Financial Services Limited | 23.85Cr | 20 Jan 2033 | 10.45 % |
| Edelweiss Financial Services Limited | 400.00Cr | 27 Apr 2033 | 10.45 % |
| Edelweiss Financial Services Limited | 300.00Cr | 21 Jul 2033 | 10.45 % |
| Edelweiss Financial Services Limited | 200.00Cr | 26 Oct 2033 | 10.45 % |
| Edelweiss Financial Services Limited | 9.10Cr | 29 Jan 2034 | 10.45 % |
| Edelweiss Financial Services Limited | 200.00Cr | 26 Oct 2028 | 10.10 % |
| Edelweiss Financial Services Limited | 36.73Cr | 20 Jan 2028 | 10.10 % |
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Edelweiss Financial Services Limited
History & PromoterCurrent Management of Edelweiss Financial ServicesBoard Constitution of Edelweiss Financial Services LimitedGeographical Presence of Edelweiss Financial ServicesLoans offered by Edelweiss Financial ServicesEdelweiss Credit Rating of past 3 yearsBrief financials for the last 3 years (Consolidated)Advantages of Edelweiss Financial Services LimitedDisadvantages of Edelweiss Financial Services LimitedHistory & Promoter
The company on a standalone basis is primarily engaged in investment banking services and provides development, managerial and financial support to the businesses of the Edelweiss group entities. The Edelweiss Group offers a range of products and services, spanning varied asset classes and diversified consumer segments. The businesses of Edelweiss are organised around 8 broad lines –housing finance, NBFC, Wealth management & Mutual Funds, Alternatives, Life and General insurance and Asset Reconstruction.
Over the years, the Edelweiss group has established a presence across major verticals in financial services business-like asset management, insurance, asset reconstruction and wealth management. The group comprises 28 subsidiaries as of March 31, 2023. The total income of the company was ₹ 8,632.59 crs for the year March 31, 2023, and ₹ 7,212.59 crs for the year March 31, 2022, on a consolidated basis. The company earned profit of ₹ 405.56 crs for the year ended March 31, 2023, and ₹ 212.07 crs for the year ended March 31, 2022, on a consolidated basis. he holding of Edelweiss group is described in the chart below:
Current Management of Edelweiss Financial Services
| Particulars | Name |
| Managing Director | Mr Rashesh Shah |
| Compliance Officer | Mr Tarun Khurana |
| Chief Financial Officer | Ms Ananya Suneja |
Board Constitution of Edelweiss Financial Services Limited
(As per latest available annual report & prospectus)
| S. No | Name | Designation | Education |
| 1. | Mr Rashesh Shah | Chairman & MD | MBA from IIM Ahmedabad. |
| 2. | Mr Venkatchalam Ramaswamy | Vice Chairman & Executive Director | MBA from the University of Pittsburgh, USA
|
| 3. | Mr Himanshu Kaji | Executive Director | Chartered Accountant
|
| 4. | Ms. Vidya Shah | Non-Executive & Non-Independent Director | MBA degree from IIM Ahmedabad. |
| 5. | Mr Biswamohan Mahapatra | Independent Director | Master’s degree of Science in Management from Arthur D. Little Management Education Institute, Cambridge, Massachusetts, United States of America
Master’s degree in Business Administration from the University of Delhi.
|
| 6. | Mr Ashok Kini | Independent Director | Master’s degree in English literature from Madras Christian College, Chennai.
|
| 7. | Dr Ashima Goyal | Independent Director | MPhil, MA and BA in Economics from the University of Delhi
PhD in Economics from the University of Mumbai.
|
| 8. | Mr Shiva Kumar | Independent Director | Bachelor of Arts degree from Patna University |
Geographical Presence of Edelweiss Financial Services
Edelweiss Financial Services Limited (EFSL) has a strong presence in PAN India, with 233 offices serving over 5 million clients. In addition EFSL also has international presence in places like New York, Mauritius, Dubai, Hongkong, London etc.
Loans offered by Edelweiss Financial Services
SME Loan: Offers loans to SME Enterprises from 3 lakh to 25 crore, with an Loan to Value (LTV) of up to 125%. Their products details are mentioned below:
- Unsecured Business Loan: To meet immediate requirements they offer loan amount from 3 lakh to 50 lakh, with a tenure of up to 4 years
- Equipment Loan: Offer machinery loan to upgrade, improve or replace equipment meant for manufacturing. The loan amount ranges from 5 lakh to 2.5 crore with a tenure of up to 5 years
- Secured Loan: Offer loan against property for purchase of new property for a loan amount of up to 25 crore with a tenure of up to 15 years and an LTV up to 125%
Loan Against Property: The company mortgages your property for you to raise finance of up to 120% of market value of the asset and a loan amount of up to 25 crore with tenure of up to 15 years.
Edelweiss Credit Rating of past 3 years
Domestic Credit Rating for past 3 years by:
| Rating Agency | Type of Instrument | Financial Year 2021 | Financial Year 2022 | Financial Year 2023 |
| CRISIL | Non-convertible Debenture | - | AA-/NEGATIVE | AA-/NEGATIVE |
| CARE | Non-convertible Debenture | A+/STABLE | A+/STABLE | A+/NEGATIVE |
| ICRA | Non-convertible Debenture | - | A+/NEGATIVE | A+/STABLE |
Brief financials for the last 3 years (Consolidated)
(₹ in Cr)
| S.No. | Particular | Financial Year 2021 | Financial Year 2022 | Financial Year 2023 |
| 1 | Profit after tax | 254 | 212 | 406 |
| 2 | Net worth | 7,220 | 7,220 | 7,484 |
| 3 | AUM | 16,992 | 11,962 | |
| 4 | Total Borrowing | 28,436 | 22,711 | 21,736 |
| 5 | Gross Non-performing Asset (GNPA) | 6.71% | 2.51% | 2.01% |
| 6 | Net Non-Performing Asset (NNPA) | 5.84% | 1.80% | 1.36% |
| 7 | Leverage Ratio (Debt/Equity) | 3.94 | 3.15 | 2.90 |
Advantages of Edelweiss Financial Services Limited
- Adequate capitalisation with multiple capital raises
- Diversified businesses across various financial services
- Comfortable asset quality with GNPAs at 2.01% and NNPA at 1.36% as of March 2023
- Reduction of exposure to real estate financing
Disadvantages of Edelweiss Financial Services Limited
Low profitability at the consolidated level
Inconsistent trend in income at the consolidated level
Exposure to real estate (risky asset class) in the wholesale loan book
Rating downgrades by CARE in the last 3 years
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