Support and Resistance Levels
Past performance
About Manipal Finance Corporation Ltd Manipal Finance Corporation Ltd, established in March 1984 by the Pais of Manipal, currently focuses solely on recovering dues and settling debts. The company is actively refunding unclaimed investments by reaching out to individual investors. Despite a successful rights issue in 1994 and the opening of two new branches, bringing the total to 50, the company faced challenges due to insufficient deposit limits, impacting their hire-purchase scheme disbursements.
In 1995, the company's financial position improved with increased net worth from share allotments and reserve creation, enhancing its borrowing capacity. However, by 1999-2000, the company reported a significant loss of Rs. 1591.16 lakhs, a considerable increase from the previous year's loss of Rs. 177.54 lakhs. This financial downturn underscores the company's struggle to regain stability and profitability while managing its current focus on debt recovery.