Arman Financial Services Company Profile: Products,Promoters and Clients

Arman Financial Services Company

Arman Financial Services, originally incorporated on November 26, 1992, has evolved into a prominent category A Non-Banking Finance Company (NBFC). Listed on the stock exchange, the company's registered office is situated in Ahmedabad, Gujarat. Specializing in both fund-based and non-fund-based activities, Arman offers a diverse range of financial services, including term loans, collateral-free credit, thrift and savings, and insurance. 

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Acting as an intermediary for banks and financial institutions, Arman aims to extend its financial services to the urban and rural areas of India. With a focus on the two and three-wheeler segments, the company has a substantial client base in Ahmedabad and boasts a database of 20,000 clients with proven creditworthiness.

Q1. What are the Product and service offerings of the Arman Financial Services?

1. Microfinance Loans:

• Small-scale financial assistance targeting low-income individuals for entrepreneurship and economic empowerment.
• Modest loan amounts, short-term repayment, and flexible options for financial inclusion.

2. Two-Wheeler Financing:

• Specialized financing for motorcycles, mopeds, and scooters from popular brands.
• Flexible repayment, competitive interest rates, and special schemes for repeat customers.
• Accessible to individuals aged 18-65 years, with repayment periods up to 36 months.

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3. MSME Loans:

• Tailored loans ranging from 50,000 to 5,00,000 for underserved segments.
• Unique cash collection at the customer's doorstep for accessibility.
• Conservative underwriting policy ensures high asset quality and sustainability.
• Quick processing, doorstep delivery, and collections enhance the customer experience.

Q2. Who are the Promoters of the Arman Financial Services?

Mr. Aalok Patel: Appointed as Joint Managing Director for 5 years following a resolution at the 27th Annual General Meeting on September 23, 2019, Mr. Patel's background in Accounts & Finance, including a CPA license in the U.S., along with four years at KPMG and experience at John Deere Credit, underscores his financial expertise.

Mr. Jayendrabhai Patel: Founder of the company, Mr. Patel boasts over 28 years of management experience in finance. Educated and experienced in the U.S., he transitioned from a role at Kapps Pharmaceuticals Inc. to focus on finance full-time at Arman, showcasing a strategic vision for the company's growth.

Yash K. Shah: Serving as an Independent Director, Shah, a Chartered Accountant and partner at DBS & Co., specializes in M&A and Valuations. His tenure at KPMG's M&A division and contributions to the field through papers and lectures highlight his expertise.

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Q3. Who are the Clients of the Arman Financial Services?

As of FY24

·  Geographical AUM Mix (Consolidated)

• Microfinance: 8%
• MSME: 9%
• 2W & Rural 2W: 12%
• Total: 29%

·  Number of Branches: 402

·  Number of Employees: ~8 Lakh (800,000)

·  Number of Loan Officers: 3,805

·Active Customers: After successful entry in Bihar and Haryana, the Company is now expanding its footprints in states of Telangana and Jharkhand.

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