Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.

Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.

Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.

Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar.....👍✌

Wednesday, May 08, 2013

SKS Microfinance Ltd: Update
[Editor: The scrip was strongly recommended as a buy in this blog, based on the hint my sources gave regarding Q4FY13 results. The company came out with Q4FY13 results today, CLICK HERE and the scrip closed at Rs.127.65, up 1.03%. What do you think of its future prospects? According to earlier media reports: Mr Narayana Murthy's venture capital company acquired a substantial stake in SKS Microfinance just before the IPO at Rs.300 a share. This investment certainly enhanced the premium that the company could command and also increased retail interest in the issue significantly]
  • Incremental draw-downs of Rs.1,704 Cr in Q4-FY13 (Rs.566
    Cr for Q3FY13). Full year incremental drawdowns in FY13 were Rs.2,875 Cr compared to Rs.1,484 crs in FY12. (growth of 94% YoY).
  • Loan Disbursements rose by 65% (QoQ), and Non-AP Portfolio grows by 35% (QoQ) to Rs.2,016 Cr.
  • Collection efficiency in Non-AP states continues to be robust at 99.9% ( 99.8% in Q3FY13).
  • Cash & Bank balance stood at Rs.895 Cr.
  • Reports profit of Rs.2.7 Cr for Q4FY13 compared to loss of Rs.330 Cr for Q4FY12 and profit of Rs.1.2Cr for Q3FY13.
  • Networth of Rs.390 Cr and capital adequacy at 32.2%* as of 31st March, 2013.
  • The un-availed deferred tax benefit stands at Rs.555 Cr and will be available to offset tax on future taxable income. Deferred Tax assets will be recognised on the books upon virtual certainty of future taxable profits supported by convincing evidence as per AS-22. For Q4FY13, the company has posted net profit of Rs.2.7 crs and given the carried forward tax loss, no current tax provision is required.
  • Received interim relief from Supreme Court to resume operations in AP, subject to Sec 9 and 16 of the AP MFI Act, which prescribes the ceiling on amount recoverable on loans in respect of interest and provides the penalty for any coercive actions.
  • Ms. Ranjana Kumar has been appointed as an Independent Director on the Board of SKS Microfinance Limited w.e.f. March 08, 2013. Ms. Ranjana Kumar served as the CMD of Indian Bank and NABARD. She also held the constitutional post of Vigilance Commissioner in Central Vigilance Commission. CLICK HERE.