InCred Financial Services Limited

InCred Financial Services Limited is a non-deposit taking systemically important NBFC registered with the RBI. The company is primarily engaged in the business of providing personal loans, education loans, SME loans, and in providing ancillary services related to the said business activities. The company's business portfolio is divided into (i) Consumer Loans, (ii) Education Loans, (iii) MSME Loans. As on March 31, 2021 our loan portfolio was Rs 2,633.66 Cr and catering to 3,40,264 number of customers. Of the said loan portfolio, approx. 50% is in form of secured lending. Our loan book has grown from Rs 1,745.08 Cr as at March 31, 2019 to Rs 2,076.90 Cr as at March 31, 2020 and further to Rs 2,633.66 Cr as at March 31, 2021. The issue is rated 'CRISIL A' (pronounced as CRISIL A). This rating indicates that instruments with this rating are considered to have a adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk. Coupon rates offered by company is attractive in current time as interest rates are low, but financial performance of company is not good. So we give AVOID rating to this NCD offer.

• 1 Mr. Bhupinder Singh
• 2 Bee Finance Limited