MUTHOOT FINANCE LTD RECEIVES RATINGS UPGRADATION from ‘CRISIL AA/Positive’ to ‘CRISIL AA+/Stable’ by CRISIL RATINGS ON LONG TERM DEBT

 MUTHOOT FINANCE LTD RECEIVES rating UPGRADATION from ‘CRISIL AA/Positive’ to ‘CRISIL AA+/Stable’ by CRISIL RATINGS ON LONG TERM DEBT 

Kochi, February 16, 2021: CRISIL Ratings has upgraded its ratings on the long-term debt facilities of Muthoot Finance Limited (Muthoot Finance) to 'CRISIL AA+/Stable' from ‘CRISIL AA/Positive’.

 

CRISIL Ratings in its rating rationale has stated that “The upgrade is driven by Muthoot Finance’s demonstrated ability to profitably scale up its core gold loan business while maintaining its strong financial risk profile.” The rating rationale also stated that “Established track record and brand name in the gold financing industry, Strong capitalization, and Profitability among the best in the industry which is expected to remain healthy are the strengths of Muthoot Finance Ltd”.

 

The change from ‘AA’ to ‘AA+’ signifies reaching the highest standing in the category and this rating is just one level below the ‘AAA’ rating which is the highest rating for long-term debt instruments. The rating denotes ‘High Safety’ and ‘Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.’

 

This rating upgrade will enable the Company to raise more long-term debt funds as well as attract a wider set of investors. This upgrade can further attract investments from Retail Investors in the Public Issue of NCDs in which the Company has a track record of 24 issuances raising Rs.17392crs cumulatively. Moreover, Company will be able to raise funds at much more competitive rates.

 

George Alexander Muthoot, Managing Director, on this occasion, stated “This is another

Golden feather in the cap for Muthoot Finance and it is a recognition of its leading and long sustained track record in the gold loan business. With this rating upgrade, Muthoot Finance Ltd has become one of the few NBFCs who achieved this rating level on a standalone basis without any parental support factored in rating.”

 

 

About Muthoot Finance Limited

 

Muthoot Finance Ltd, a “Systemically Important Non-Deposit Taking NBFC” (NBFC-ND-SI), is the largest gold loan NBFC in India. Its operating history has evolved over a period of 82 years since M George Muthoot (the father of our Promoters) founded a gold loan business in 1939 under the heritage of a trading business established by his father, Ninan Mathai Muthoot, in 1887. The equity shares of the Company are listed on the National Stock Exchange of India Limited and BSE Limited since 2011. It has a branch network of 4500 plus branches across 23 states, the national capital territory of Delhi, and five union territories in India. It serves about 2,00,000 plus retail customers every day for Gold Loans and Other Products and has about 2,00,000 plus Retail Investor Base for its Non-Convertible Debentures. It employs over 25000 persons in its operations. Its loan assets stood at Rs.41, 611Crores as of March 31, 2020, and it generated Profit after Tax of Rs.3, 018Crores for FY 2020. Its net-worth stood at Rs.14, 178 Crores and had a Capital Adequacy Ratio of 26.38% as of December 31, 2020. Profit after Tax stood at Rs.2, 726Crores for the 9 months ended December 31, 2020, and loan assets stood at Rs.50, 391 Crores as of December 31, 2020.

 

सोनी मराठी वाहिनीवर लवकरच नवी मालिका - दीक्षा केतकर साकारणार मुख्य भूमिका!

 सोनी मराठी वाहिनीवर लवकरच नवी मालिका - दीक्षा केतकर साकारणार मुख्य भूमिका!

सोनी मराठी वाहिनी नेहमीच नव्या धाटणीच्या मालिकांनी प्रेक्षकांचं मनोरंजन करते. अशीच एक नवी मालिका घेऊन सोनी मराठी वाहिनी प्रेक्षकांच्या भेटीला आली आहे. नुकताच या मालिकेचा प्रोमो प्रेक्षकांना पाहायला मिळाला. या मालिकेमध्ये एक नवीन, बोलक्या डोळ्यांचा आणि ताजा चेहरा प्रेक्षकांना पाहायला मिळणार आहे आणि तो आहे दीक्षा केतकर या अभिनेत्रीचा. दीक्षाची ही पहिलीच मालिका आहे.

दीक्षाबरोबरच या मालिकेमध्ये हरीश दुधाडे, ज्योती चांदेकर, रोहित फाळके, गुरु दिवेकर आणि प्रिया करमरकर हे कलाकारही आहेत.

या प्रोमोमध्ये दीक्षा खूप निरागस आणि हसरी दिसते आहे. या नव्या चेहऱ्याला पाहण्यासाठी  प्रेक्षक  उत्सुक आहेत. वयानी खूप मोठ्या असणाऱ्या व्यक्तीबरोबर ऐश्वर्या का लग्न करते आणि जाधव घराण्याची सून कशी  होते, हे  पाहणं खूप उत्सुकतेचं असणार आहे. मालिका लवकरच प्रेक्षकांच्या भेटीला येईल.

Ramji Gulati’s new track ”Carrom Ki Rani” ft. Jannat Zubair and Mr. Faisu is a perfect club number for Valentine’s Day

Ramji Gulati’s new track ”Carrom Ki Rani” ft. Jannat Zubair and Mr. Faisu is a perfect club number for Valentine’s Day

Singer/ Music- Ramji Gulati; Lyrics- Moody, Akkhar; A film by - United White Flag; Music on- Saregama Originals

The launch saw the presence of Jaan Kumar Sanu, Kanika Mann, Dharti Gulati, Bhavya Gandhi, Munmun Dutta, Jasleen Matharu, Sai Deodhar, Dj Sheizwood, Prashant Virendra Sharma, Siddharth Nigam, Shibani Kashyap, Nibedita Pal, Adnan Shaikh, Danish Alfaaz, Siddharth Nigam, Randeep Rai and many more.

It seems like Ramji Gulati is looking out for more trending stuff to connect to the youth. 

“Carrom Ki Rani” is a rhythmic club dance number with funky beats and Hindi lyrics. High on beats, the track brings a perfect mix of fun with a steady hypnotic beat which will keep the listeners engrossed.

The audio opens with a fun opening verse and then launches into club mode with the party beats. When the song speeds up the tempo, it sounds very party- which enhances the danceable mood of the song. Although the song has a western touch, it is undoubtedly high on its Hindi & desi feel.  

Ramji Gulati said “I am sure the youth will love the song. It is a song which will make everyone dance & hit the dance floor"

Jannat Zubair and Mr. Faisu said “is a high octane song which can enhance the mood of any party also top the playlist of a long drive” 

--

Mika Singh new romantic track tere bin zindagi is out now

 Mika Singh new romantic track tere bin Zindagi is out now

Mika Singh has released his next single called "Tere bin Zindagi" featuring Simrat Kaur. The song and the music video were released on the occasion of valentine's day that is the 14th of February. The music video has been directed by Vishal Desai and the music director is Bhargav Ojapali. The music is produced by Kartik Dev and Gaurav dev.  The story of the song has been done by Mini Bakshi. It's an out-and-out romantic track. It's very interesting to see the bad boy Mika in a romantic Avatar. He has a voice one could recognize in a million and the energy of an 18-year-old.

We got in touch with Mika regarding this and here is what he has got to say, "It's a romantic track to celebrate love. The younger generation needs a new love anthem and I think this is it. It's extremely melodious and it has a tune that would stick by. We have shot it beautifully and the story is worth watching out for. I have not done such a romantic track for some time and I was super excited about it. It's been released at the right time. I am getting great feedback from the audience. A special thanks to all my team for putting this together. Listen and enjoy it."

Here is the song for you.

Actor Abhinay Berde's wraps up the Shoot of his upcoming film, 'Man Kasturi Re

 Actor Abhinay Berde's wraps up the Shoot of his upcoming film, 'Man Kasturi Re'

Chocolate boy, Actor Abhinay Berde has won many hearts with his charming smile and talent. He on Saturday announced the shooting wrap for his upcoming movie "Man Kasturi Re". Directed and Written by Sanket Mane, 'Man Kasturi Re' is a unique love story, which was shot entirely in Mumbai.

Sumit Giri has written the dialogues of this movie. Emens Dimension Entertainment and Arts, Venkat R. Attili, and Mrityunjay Kichambare are the producers of the movie. Currently, the names of the other actors are not revealed.

Confirming the news that the filming has been completed, the writer-director of the film, Sanket Mane, said, 'This is my first movie as a director. Abhinay Berde is a good actor. It was a great experience working with him. The entire film was shot at live locations like Lalbagh, Bhandup, Thane, Mira Road in Mumbai. Working with Renowned artists, professional technicians,s and producers Venkat R. Attili and Mrityunjay Kichambare was an amazing experience. We look forward to releasing this movie soon. "

Abhinay Berde shares his shooting experience, "I learned a lot from writer-director Sanket Mane. I could understand my character because of him. I also enjoyed filming the movie songs. Shooting at the busiest locations in Mumbai was an incredible experience. "

Taking to social media, Abhinay wrote, "And it’s a Wrap for #ManKasturiRe! नव्या वर्षातली पहिली फिल्म! लवकरच तुमच्या भेटीला.. गणपती बाप्पा मोरया!" Berde posted on Instagram.

''Man Kasturi Re'' is produced by Emens Dimension Entertainment and Arts, Venkat R. Attili and Mrityunjay Kichambare, directed and written by Sanket Mane. The names of the other artists have not been revealed yet. The movie will hit the theatres soon.

First Marathi Zombie horror comedy Zombivli releases its teaser. Announces theatrical release date

First Marathi Zombie horror comedy Zombivli releases its teaser. Announces  theatrical release date

    Acclaimed director Aditya Sarpotdar is getting ready for the release of his next Marathi film – the quirkily titled horror-comedy revolving around zombies -  'Zombivli – a first of its kind for Marathi cinema. '. After the initial poster launch which caused a fair amount of excitement amongst audiences, the makers today dropped the teaser of the film, which stars Amey Wagh, Lalit Prabhakar, and Vaidehi Parashurami in lead roles. The film will be releasing in theatres on 30th April 2021.

While 2020 saw a practical standstill of shooting for new and existing projects in the film industry, Zombivli was the first Marathi film that went on floors when the first set of Unlock rules came into play. Produced by Yoodlee Films, the film was extensively shot in and around Mumbai and Latur, with the cast and crew adapting and following the strict hygiene protocols that were mandated by the government. Now with a teaser release, Zombivli also becomes the first Marathi film to announce its theatrical release date, as the movie theatres slowly reopen to full occupancy.

Based on a unique premise of zombies taking over a popular and busy Mumbai suburb due to certain circumstances, the teaser is a mix of humor combined with elements of horror, that is guaranteed to get audiences hooked. The ensemble cast of Amey, Lalit, and Vaidehi work together to create an atmosphere of intrigue and comedy, that sets audiences up well for the subsequent trailer launch in the coming weeks.

 

         Aditya Sarpotdar, commenting on the teaser launch of the film said: It's an absolutely unique story. Horror comedy is rare in Marathi cinema, and to add zombies to the genre, is a first of its kind. The poster of the film had created massive interest and engagement among movie lovers when we had launched it last year, and the teaser now offers fans a glimpse of the world of Zombie. We shot the film with unprecedented circumstances, and the fact that it will get a theatrical release soon is both a matter of excitement and pride. Look forward to the trailer soon – I promise you a good time at the movies.

झोंबिंवर आधारित पहिला मराठी चित्रपट ' झोंबिवलीचा ' टिझर लाँच!

or

आदित्य सरपोतदार दिग्दर्शित "झोंबिवलीचा " टिझर लाँच! रिलीजची तारीख जाहीर.

or

झोंबिवलीचा टिझर लाँच - अमेय, ललित आणि वैदेही लढणार झोंबीसोबत.

or

' झोंबिवलीचा ' टिझर लाँच ! पहिलाच झोंबिंवर आधारित हॉरर - कॉमेडी सिनेमा प्रेक्षकांच्या भेटीला.

फास्टर फेणे, क्लासमेट्स,  माऊली ह्यासारख्या अप्रतिम चित्रपटांचे  दिग्दर्शक आदित्य सरपोतदार लवकरच त्यांचा

बहूचर्चित ' झोंबिवली ' हा  सिनेमा प्रेक्षकांसमोर सादर करणार आहेत. चित्रपटाच्या पोस्टर लाँचनंतर प्रेक्षकांची उत्सुकता वाढली 

होती. नुकताच ह्या चित्रपटाचा टिझर लाँच करण्यात आला आहे . अमेय वाघ, ललित प्रभाकर आणि वैदेही परशुरामी ह्यांची

प्रमुख भूमिका असलेला हा चित्रपट ३० एप्रिल पासून प्रेक्षकांना चित्रपटगृहात पाहता येईल. 

२०२० मध्ये सिनेसृष्टीतल्या सर्वच कामांना ब्रेक लागला होता, पण झोंबिवली हा पहिला मराठी चित्रपट आहे ज्याचे चित्रीकरण

अनलॉक फेजमध्ये करण्यात आले होते. यौडली फिल्म्सची निर्मिती असलेल्या झोंबिवलीचे चित्रीकरण मुंबईसह लातूरमध्ये

करण्यात आले आहे. चित्रीकरण दरम्यान सर्व कलाकार व टीमने सरकारने  आखून दिलेल्या नियमांचे पालन करूनच चित्रीकरण

केले. त्याचबरोबर झोंबिवली हा असा पहिला मराठी चित्रपट असेल ज्याची चित्रपटगृहात रिलीज होण्याची घोषणा झाली आहे. 

मुंबईच्या एका लोकप्रिय आणि गजबजलेल्या उपनगराचा ताबा घेणाऱ्या झोंबीवर हा चित्रपट आधारित आहे. टिझरमध्ये

प्रेक्षकांना हॉरर आणि कॉमेडीचे मिश्रण बघायला मिळेल. अमेय, ललित आणि वैदेही हे तिन्ही कलाकार प्रेक्षकांच्या मनात

कुतूहल आणि हास्याचे वातावरण निर्माण करतात. 

ह्या सिनेमाविषयी बोलताना दिग्दर्शक आदित्य सरपोतदार म्हणतात, " मराठी मध्ये हॉरर- कॉमेडी सिनेमे तसे खूप

कमी बनवले जातात आणि झोंबीवर आधारित हा पहिलाच सिनेमा असेल. चित्रपटाची गोष्टसुद्धा खूप हटके आहे. गेल्या वर्षी

आम्ही चित्रपटाचे पोस्टर लाँच केले,  तेव्हा प्रेक्षकांमध्ये प्रचंड उत्सुकता निर्माण झाली होती आणि आता ह्या टीझरमुळे 

चाहत्यांना झोंबिवलीच्या जगाची झलक पाहायला मिळेल.आम्ही खूप आव्हानात्मक परिस्थितीत ह्या 

सिनेमाचे शूटिंग केले. लवकरच हा सिनेमा चित्रपटगृहात रिलीज होणार आहे, त्यामुळे अभिमान आणि उत्साह वाटतो. लवकरच

चित्रपटाचा ट्रेलर सुद्धा रिलीझ होईल व प्रेक्षकांना हा चित्रपट खूप आवडेल याची मला खात्री आहे."

असा हा भव्य चित्रपट अनेक अर्थांनी अनोखा आहे. प्रेक्षकांनी चित्रपटगृहात जाऊन हा सिनेमा आवर्जून पाहावा.

Global PayEX automates Account Receivables worth Rs.1000cr for Gold medal Electricals

Global PayEX automates Account Receivables worth Rs.1000cr for Gold medal Electricals

  Cloud-based EIPP platform FreePay reconciles payments 2X faster; reduces Daily Sales Outstanding by 9 days

Mumbai, February 15, 2021: Addressing delays in invoice collections and in offering real-time discounts to its 6,000 strong dealer network across India, homegrown brand Gold medal Electricals has automated more than 70 percent of its Account Receivables (AR) through B2B Fintech Global PayEX’s FreePay – an Electronic Invoice Presentment and Payment (EIPP) solution. This translates into unlocking the potential of working capital worth INR 1000cr 9 days earlier.

 

Locked-up working capital has been a pressing concern for B2B players, especially during the COVID-19 pandemic. Add to it, ballooning AR numbers owing to traditional methods of invoice collection via Post Dated Cheques (PDCs) and manual reconciliation of each payment on the company’s enterprise resource planning (ERP) software.

 

With the adoption of the Artificial Intelligence (AI) powered cloud-based Software-as-a-Service (SaaS) solution, Gold medal Electricals has seen the faster digital collection, 2X faster reconciliation, a 9-day reduction in Daily Sales Outstanding, which together have enhanced working capital efficiency and increased visibility on company cash flows by 99 percent.

Around 3,000 dealers of the company have opted for EIPP, with an average addition of 75 dealers every month since June 2019.

 

Global PayEX Chief Revenue Officer Narayan ‘Naru’ Ramamoorthy said, “Traditional methods and manual processes of AR continue to lock up billions of dollars of working capital across the globe. Our technology unlocks this value to empower businesses in cash flow planning and deployment while also creating value for their dealers by having better access to digital payments and channel finance. We are proud to partner with Gold medal Electricals in its journey of digital transformation and working capital optimization.”

 

The B2B fintech provides the whole stack of cloud solutions for Account Receivables and Account Payables to help optimize working capital for large Indian and MNC clients.

Gold medal Electricals Director Kishan Jain said, “Around five years back, Gold medal started on this path to become a digital organization. We started investing majorly in technology to drive efficiencies and productivity in various aspects of our functioning and are thrilled by the results. Integrating Global PayEX's FreePay solution into our systems has been an important part of this initiative and we are delighted to share that we have noticed a significant improvement in our revenue collections along with gaining key insights that have helped shape our business. We are excited about this initiative and look forward to working with Global PayEX on this transformational journey.”

 

Over the last two and a half years, dealers and distributors of the leading electrical brand use the EIPP solution to make highly secure digital payments. Global PayEX has provided Gold medal Electricals with a real-time dashboard that tracks invoice status and payments received, which helps in reconciling the payment against the invoice into its ERP.

 

In addition to automating AR, the switch and system manufacturer leverages the platform to offer multi-slab discounts, product and season incentives by region to its dealers and distributors, most of whom are Micro, Small, and Medium Enterprises (MSMEs).

 

About Global PayEX

Global PayEX is an AI-powered cloud platform for working capital optimization in order-to-cash and procure-to-pay cycles. The B2B fintech processed INR 100 billion+ worth of transactions in 2020 for B2B buyers and sellers through multiple banking partners.

 

Global PayEX offers an end-to-end suite of Account Receivable (AR) and Account Payable (AP) solutions including FreePay, AlgoriQ, FinEX, and APEX to help large corporates with multiple dealers and vendors in electronic invoice presentment and payment, intelligent automation in reconciliation, channel financing and AP automation and vendor financing.

 

The B2B fintech has over 40 clients including MNCs and Indian corporates across industries including manufacturing, trading, pharmaceutical, food, FMCG, packaging, electrical, textile and hardware. Global PayEX also operates in the United States and the United Arab Emirates.

 

Founded by serial IT entrepreneur Mohan Krishnan, Global PayEX is the first fintech company J.P.Morgan has invested in Southeast Asia. It is headquartered in New York and Mumbai.

 

For more details visit https://www.globalpayex.com/

 

About Gold medal Electricals

Gold medal Electricals is a homegrown electrical company that was established in the year 1979 with a vision to create electrical switches and accessories that make a positive difference to the lives of consumers. In 1981, Gold medal entered the Wires and Cables business. In 1995, the company set up a state-of-the-art manufacturing unit in Goregaon, Mumbai for the manufacturing of wires & cables, and modular switches. Alongside Wires and Cables, the company today manufactures a vast range of electrical products including various types of Switches, Home automation systems, Security Systems, Entertainment devices, Doorbells, Wires, Cables, and more for residential buildings as well as commercial establishments.