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    POONAWALLA   INE511C01022

POONAWALLA FINCORP LIMITED

(POONAWALLA)
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Delayed NSE India Stock Exchange  -  05/23 07:17:22 am EDT
237.55 INR   -2.52%
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Poonawalla Fincorp : Appointment

01/15/2022 | 10:25am EDT

15 January 2022

BSE Limited

National Stock Exchange of India Limited

Corporate Relationship Department

The Listing Department,

25th Floor, Phiroze Jeejeebhoy Towers,

Exchange Plaza,

Dalal Street, Fort,

Bandra- Kurla Complex, Bandra (East),

Mumbai - 400 001.

Mumbai - 400 051.

BSE Scrip Code: 524000

NSE Symbol: POONAWALLA

Reference: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations')

Subject: Change in Board composition

Dear Sir / Madam,

We wish to inform you that on the basis of recommendation of the Nomination and Remuneration Committee, the Board of Directors through resolution passed by circulation on 15 January 2022, have approved the appointment of Mr. Sanjay Kumar (DIN: 0009466542) and Mr. G. Jagan Mohan Rao (DIN: 06743140), as Additional Directors in the capacity of Independent Non-Executive Director of the Company with effect from 15 January, 2022 on the Board of the Company subject to approval of the shareholders.

We are further pleased to inform you that the induction of Mr. Sanjay Kumar and Mr. G.Jagan Mohan Rao, will further strengthen the Board of the Company, as the directors would bring with them expertise and managerial insights,which would immensely benefit the Company. With their appointment, the Board of the Company shall now comprise of eight directors, of which more than half of the Board shall consist of Independent Directors.

The details required under Regulation 30 of the Listing Regulations read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9 September 2015 is given in the enclosed Annexure I and Annexure II.

You are requested to kindly take a note of the same.

Thanking you,

Yours faithfully,

For Poonawalla Fincorp Limited

(Formerly, Magma Fincorp Limited)

Shabnum Zaman

Company Secretary

ACS-13918

Encl.: As above.

Annexure - I

Appointment of Mr. Sanjay Kumar (DIN: 0009466542) as Additional Director on the Board of the Company

Sr

Details of event that

Information of such event

No.

needs to be provided

1

Reason for change viz.

Mr. Sanjay Kumar have been appointed as Additional Director in the

appointment, resignation,

capacity of Non-Executive Independent Director on the Board of the

removal,

Company.

death or otherwise;

2

Date of

15 January 2022

appointment/cessation(as

The office of Mr. Sanjay Kumar shall not be liable to retirement by

applicable)Term of

rotation and is appointed as Independent Director for a term of 3

appointment;

years subject to the approval of shareholders.

3

Disclosure of relationships

Mr. Sanjay Kumar is not related inter-se to any Director of the

betweendirectors (in case

Company.

of appointment of a

director);

4

Information as required

Mr. Sanjay Kumar is not debarred from holding the office of

pursuant to BSE Circular

Director by virtue of any SEBI Order or any other such authority.

with ref. no. LIST/ COMP/

14/ 2018-19 and

the National Stock

Exchange of India Ltd with

ref. no. NSE/ CML/2018/

24, both dated

20th June, 2018.

5

Brief profile (in case of

Mr. Sanjay Kumar (aged 61 years) has over 38 years of rich working

appointment);

experience in critical areas of Banking - Branch Banking, Credit

Administration, International Operations, HRD & Training, Corporate

Planning, Economic Research & Intelligence, and AML & Regulatory

Compliances. Certified Anti-Money Laundering Specialist with

excellent exposure to handling Group Compliance portfolio of the

second largest Bank in India viz. Bank of Baroda.

Headed the Compliance Function in Bank of Baroda as the Chief

Group Compliance Officer in the rank of Chief General Manager,

followed by as an Advisor on Compliance matters.

Headed Hong Kong operations of Bank of Baroda for over 2 years and

also worked as CFO of Bank of Baroda (for 1 year).

He has wide experience in dealing with Indian Regulators, and

overseas Regulators and Mr. Sanjay Kumar holds Master of Arts in

Economics from Lucknow University and Bachelor of Commerce.

Annexure - II

Appointment of Mr. Mr. G. Jagan Mohan Rao (DIN: 06743140 ) as Additional Director on the Board of the Company

Sr

Details of event that

Information of such event

No.

needs to be provided

1

Reason for change viz.

Mr. G. Jagan Mohan Rao have been appointed as Additional Director in

appointment, resignation,

the capacity of Non-Executive Independent Director on the Board of

removal,

the Company.

death or otherwise;

2

Date of

15 January 2022

appointment/cessation(as

The office of Mr. G. Jagan Mohan Rao shall not be liable to retirement

applicable)Term of

by rotation and is appointed as Independent Director for a term of 3

appointment;

years subject to the approval of shareholders.

3

Disclosure of relationships

Mr. G. Jagan Mohan Rao is not related inter-se to any Director of the

betweendirectors (in case

Company.

of appointment of a

director);

4

Information as required

Mr. G. Jagan Mohan Rao is not debarred from holding the office of

pursuant to BSE Circular

Director by virtue of any SEBI Order or any other such authority.

with ref. no. LIST/ COMP/

14/ 2018-19 and

the National Stock

Exchange of India Ltd with

ref. no. NSE/ CML/2018/

24, both dated

20th June, 2018.

5

Brief profile (in case of

Mr. G.Jagan Mohan Rao (aged 67 years) has served as the Managing

appointment);

Director of Bank Note Paper Mill India Private Limited (BNPM) (A JV of

SPMCIL - A Govt. of India Enterprise and BRBNMPL - A Subsidiary of RBI)

between December 2013 to December 2018. He established the BNPM

and ran it for five years successfully and was ranked as the biggest and

the best mill in Asia.

Prior to that he was the Principal Chief General Manager in Reserve Bank

of India - Department of Banking Supervision, Central Office. He was

credited with pioneering the introduction of risk-based supervision in

India, which is now emulated by other Central Banks.

In his career spanning over 33 years in the Bank, Mr. G.Jagan Mohan Rao

has worked in areas of Currency Management, Exchange Control,

Banking Supervision and Customer Services in senior executive capacity

and as Principal Chief General Manager in the Department of Banking

Supervision in RBI and has been part of Internal and External Working

Groups and Committees in areas related to central banking.

He has also headed the Bhubaneshwar Regional Office as Regional Director of the Bank.

Mr. G.Jagan Mohan Rao holds MA (Economics) from Andhra University and graduated from Sir. C.R.R. College, Eluru.

Disclaimer

Poonawalla Fincorp Ltd. published this content on 15 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 January 2022 15:24:03 UTC.


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Financials
Sales 2022 12 977 M 167 M 167 M
Net income 2022 3 489 M 44,8 M 44,8 M
Net Debt 2022 - - -
P/E ratio 2022 51,1x
Yield 2022 0,17%
Capitalization 182 B 2 335 M 2 335 M
Capi. / Sales 2022 14,0x
Capi. / Sales 2023 10,8x
Nbr of Employees 5 505
Free-Float 27,7%
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Number of Analysts 2
Last Close Price 237,55 INR
Average target price 255,50 INR
Spread / Average Target 7,56%
EPS Revisions
Managers and Directors
Sanjay Miranka Group Chief Financial Officer
Adar Cyrus Poonawalla Chairman
Manoj Kutty Gujaran Chief Compliance Officer
Vijayalakshmi R. Iyer Independent Non-Executive Director
Prasada Rao Bontha Independent Non-Executive Director
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