Dhani Loans and Services Limited

Dhani Loans And Service Limited is a non-deposit taking NBFC registered with the RBI and a 100% subsidiary of Dhani Services Limited (formerly Indiabulls Ventures Limited), a listed Indian company. The Company provides transaction finance to its customer through the Dhani app and also provides Personal loans, secured and unsecured business loans to individual and corporates. Dhani Services Limited is a consumer business that operates its mobile application 'Dhani' ('Dhani App') through which it provides digital healthcare and digital transactional finance to its' customers. Growing from a personal finance business to now offering a range of products across both healthcare and financial services, they believe that Dhani Services Limited has continually prioritized the need to design offerings made for current market environment while continuously analysing the need for new products as the market evolves.  Customers can use the Dhani App to choose from a suite of products to help manage their financial needs on a daily basis. This includes managing all payments through the 'Dhani Card' or 'Dhani Wallet' and access to personal finance through 'Dhani Credit Line', for securing the customers and their families with personal and medical insurance, and for stock broking solutions. On the financial performance front, for the last three fiscals, DLSL has (on a consolidated basis) posted total income / net profit (loss) of Rs 1176.69 cr / Rs - (111.59) cr (FY19), Rs 2683.69 cr / Rs - (41.48) cr (FY20) and Rs 1765.23 cr / Rs 384.52 cr. For the first half of FY22 ended on September 30, 2021, it has earned a loss of Rs - (322.56) cr on a total income of Rs 383.72 cr except for FY21, it has posted losses on its operations. This remains a major concern. Financials of DLSL is not good and posted losses except FY21. The rating is IVR AA / Stable, which is good and coupon rates are higher, may be due to poor financials. We give AVOID rating to debt issue.

• 1 Dhani Services Limited