TMF Holdings Limited Annual Report FY 2022-23.pdf

Key Information:

Board of Directors:
Independent Directors: Mr. P. S. Jayakumar, Mr. Nasser Munjee (Chairman), Mrs. Varsha Purandare
Non-Executive Directors: Mr. P.B. Balaji, Mr. Shyam Mani, Mr. Dhiman Gupta, Mr. Samrat Gupta (Appointed May 2022)
Manager & KMP: Mr. Anand Bang (CFO), Ms. Ridhi Gangar (Company Secretary)
Statutory Auditors: M/s. Sudit K. Parekh & Co. LLP (appointed Q3 FY 2021-22)
Corporate Identification Number (CIN): U65923MH2006PLC162503
Registered Office: Mumbai, Maharashtra
Corporate Office: Thane (West), Maharashtra
Registrars and Share Transfer Agents: TSR Consultants Private Limited
Bankers: HDFC Bank Limited
Depositories: Central Depository Services (India) Limited & National Securities Depository Limited
Debenture Trustees: IDBI Trusteeship Services Limited

Business Overview:

TMF Holdings Limited, a Tata Enterprise, operates as a Systemically Important, Non-Deposit taking Non-Banking Finance Company (NBFC) classified as a Core Investment Company (CIC-ND-SI). The company holds investments in:

Tata Motors Finance Limited: New vehicle financing.
Tata Motors Finance Solutions Limited (TMFSL): Used vehicle finance and lending to dealers and suppliers of Tata Motors.

Economic and Industry Outlook (Key Highlights):

Global economic growth projected to slow down to 2.5%-2.8% in 2023, recovering to around 3.0% in 2024.
Advanced economies facing a particularly pronounced slowdown.
Headline inflation globally expected to fall from 8.7% in 2022 to around 7.0% in 2023.
In India, robust aggregate demand driven by services sector recovery and favorable factors like rabi harvest, fiscal infrastructure push, and corporate investment.
RBI projects headline CPI inflation to ease further to 5.2% by Q4-FY24.
Rupee strengthened slightly ending at Rs 82.22 per USD (Mar-22 exit: Rs 75.81).