NBI Industrial Finance Company Ltd Company Summary

NBI Industrial Finance Company Ltd Summary

N.B.I Industrial Finance Company Limited was incorporated on December 21, 1936. The Company is registered as Non-Banking Financial Company with the Reserve Bank of India and is categorized as Non-Deposit taking NBFC (NBFC-ND). The operation of the Company during the year was centered in dividend income; interest income and share trading. The main income of the Company is dividend income on long-term investments & interest on fixed deposit and profit from sale of investments. The Company, being into finance and investment activity, the impact of movement of stock markets has affected the profitability.The Company has only one class of shares - equity shares of par value Rs.10/- each. In FY 2017, the Board has proposed subject to members approval to sub-divide each Equity Share of nominal value of Rs 10/- each in the Capital of the Company fully paid-up, into 2 Equity Shares of Rs.5/- each fully paid-up and all the Equity Shares of Rs 10/- each fully paid would then stand converted into equity shares of Rs.5/- each on approval of the members at the ensuing Annual General Meeting by way of Special Resolution with consequential amendment to Capital Clause of Memorandum of Association of the Company as proposed.In FY 2017, The Venktesh Co. Ltd. and The Laxmi Salt Co. Ltd. ceased to be the associates of the Company. The Companys securities namely equity shares were admitted for trading at the NSE on 21 November 2016. The trading started with effect from 7th December 2016.In 2022-23, through the Scheme of Arrangement for Amalgamation, Western India Commercial Company Limited has been merged with the Company effective on April 1, 2022.