Project by Rakesh Kumar Prasad PDF

A COMPARATIVE ANALYSIS OF SELECTED NBFCS IN INDIA
Internship Project Report submitted in partial fulfilment of the requirements for the
award of the Degree of
MASTER OF BUSINESS ADMINISTRATION

of
BANGALORE UNIVERSITY
By
Name: RAKESH KUMAR PRASAD
Reg. No.: P03HB21M0205
Under the guidance of

Name of Guide: Prof. DIVYA MATHUR
Designation of Guide: Assistant Professor
NSB ACADEMY, BANGALORE

Bangalore University
2022–2023
Internship Project Report submitted in partial fulfilment of the requirements for the
award of the Degree of
MASTER OF BUSINESS ADMINISTRATION

of
BANGALORE UNIVERSITY
By
Name: RAKESH KUMAR PRASAD
Reg. No.: P03HB21M0205
Under the guidance of

Name of Guide: Prof. DIVYA MATHUR
Designation of Guide: Assistant Professor
NSB ACADEMY, BANGALORE

Bangalore University
2022–2023
i
DECLARATION BY THE STUDENT
I am Mr. Rakesh Kumar Prasad hereby declare that “A COMPARATIVE STUDY ON

SELECTED NBFCs IN INDIA” is the result of the project work carried out by me under
the guidance of Prof. Divya Mathur in partial fulfilment for the award of Master’s Degree
in Business Administration by Bangalore University.
I also declare that this project is the outcome of my own efforts and that it has not been
submitted to any other university or Institute for the award of any other degree or Diploma
or Certificate.
Signature of the Student: Rakesh Kumar Prasad
Place: Bangalore Name: Rakesh Kumar Prasad
Date: Register Number: P03HB21M0205
ii
CERTIFICATE OF ORIGINALITY
Date:
This is to certify that the Internship Project titled “A COMPARATIVE STUDY ON

SELECTED NBFCs IN INDIA” is an original work of Mr. Rakesh Kumar Prasad; bearing
University Register Number P03HB21M0205 and is being submitted in partial fulfilment
for the award of the Master’s Degree in Business Administration (MBA) of Bangalore
University.
The report has not been submitted earlier either to this University /Institution for the
fulfilment of the requirement of a course of study or any other Degree.
SIGNATURE OF GUIDE SIGNATURE OF DIRECTOR
Prof. Divya Mathur Dr.Srinidhi K. Parthasarthi
DATE: DATE:
iii
ACKNOWLEDGEMENT
I sincerely express my profound gratitude to HOD/Director/Chairman___ Name___

Designation _Institution/Department/University name for extending greater support and
assistance to complete internship project.
I convey my sincere gratitude to Prof Divya Mathur Assistant Professor (Designation) of

NSB Academy, Bangalore as my instructor for his timely guidance and continued
inspiration and encouragement for accomplishing qualitative internship project.
Signature of the Student:
Place: Bangalore Name: Rakesh Kumar Prasad
Date: Register Number: P03HB21M0205
iv
TABLE OF CONTENTS
CHAPTER PARTICULARS PAGE

NO. NO.
Executive Summary 1
01 Introduction
1.1 Detailed Theoretical background of the study 3
1.2 Meaning of NBFC 3
1.2.1 List of top 50 NBFC companies 5
1.3 NBFC important in Indian economy 7
1.4 Comparative investigation 9
1.4.1 Comparative financial analysis 10
1.4.2 Balance sheet 10
1.4.3 Cash flow explanation 10
1.4.4 Money related explanation 11
1.4.5 Area of budgetary investigation 11
1.5 TOOL/TECHNIQUES utilized for examination 11
1.6 CAMEL Approach 12
02 Institutional Profile2
2.1 Bajaj Finance 19
2.1.1 Vision and Mission 21
2.1.2 Funding and investment 21
2.2 Cholamandalam Finance 21
2.3 Muthoot Finance 23
2.4 Motilal Oswal 25
v
2.5 Kotak Mahindra Bank 26
03 Research Design and Methodology

Research design
3.1 Statement of problem 29
3.2 Need of the study 29
3.3 Scope of the study 29
3.4 Review of literature 29
3.5 Hypothesis 33
3.6 Objective of Study 33
Research Methodology
3.7 Research Methodology 34
3.8 Type of Research 34
3.9 Type of data 34
3.10 Source of data 34
3.11 Sampling design and selection 34
3.12 Tools for investigation 35
04 Table/Chart Analysis and Interpretations

4.1 Conceptual and Operational definition of
variables 37
4.2 Techniques of analysis 41
4.2.1 Capital Adequacy Ratio 43
4.2.2 Debt-Equity Ratio 44
4.2.3 Total Advances to Total Asset Ratio 46
4.2.4 Total Investment to Total Asset ratio 47
4.2.5 Total Expenses to Total Income Ratio 49
4.2.6 Asset Turnover Ratio 50
4.2.7 Diversification Ratio 52
vi
4.2.8 Profit Per Employee Ratio 53
4.2.9 Business Per Employee Ratio 54
4.2.10 Net Profit Ratio 56
4.2.11 Return on Equity 57
4.2.12 Interest Income to Total Income Ratio 59
4.2.13 Liquid Asset to Total Asset Ratio 60
4.2.14 Interest Expense to Interest Income Ratio 62
05 Summary of Findings, Conclusions and

Recommendations
65
5.1 Summary of Findings
65
5.2 Suggestions & Recommendations
66
5.3 Conclusions
vii
List of Tables/ Graphs
Graphs/ Figure No. Description Page No.
4.2.1 Capital Adequacy Ratio 43-44
4.2.2 Debt-Equity Ratio 44-45
4.2.3 Total Advances to Total Asset Ratio 46-47
4.2.4 Total Investment to Total Asset ratio 47-48
4.2.5 Total Expenses to Total Income Ratio 49-50

Asset Turnover Ratio
4.2.6 50-51
Diversification Ratio
4.2.7 52-53
Profit Per Employee Ratio
4.2.8 53-54
4.2.9 Business Per Employee Ratio 54-55

Net Profit Ratio
4.2.10 56-57
Return on Equity
4.2.11 57-58
4.2.12 Interest Income to Total Income Ratio 59-60
4.2.13 Liquid Asset to Total Asset Ratio 60-61

Interest Expense to Interest Income Ratio
4.2.14 62-63
List of Data Sources
SI. No Sources Page No.
1 Company Annual Report

2 Money Control 34
3 Company Official Website
viii
ix
EXECUTIVE SUMMARY
This consider is based on the comparative examination of Bajaj Fund Constrained,

Muthoot Fund, Cholamandalam Back, Motilal Oswal and Kotak Mahindra restricted. The
point of the ponder is examination of the companies for the period of five a long time
utilizing CAMEL approach, this think about makes a difference in understanding the
significance of budgetary administration and dissecting the generally execution utilizing
the camel rating framework for NBFC division. The significant portion of examination is
collection of information and examining the information from the company point of see
since diverse company considers diverse viewpoint of the calculations of the financials.
The comparative examination is dissected with the assistance of five imperative variables
Capital ampleness, resource quality, administration effectiveness, earnings quality,
liquidity. Through the assistance of these variables the company can effectively be
dissected and translated. To examination the soundness of the company execution
instruments like proportion is utilized and factual instruments such as graphic,
autonomous test t-test were utilized. The information utilized for the examination is
auxiliary source of information collected from the yearly report of the company websites
and other trusted source. Table and charts were utilized to discover out contrast in way
better between the companies and translation of the information got to be simpler and
fruitful in passing on the reports to the peruser. Bajaj Back Restricted, Muthoot Back,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra restricted are pioneers of the
NBFC division who have the part of being the early starters of NBFC segment in India.
All have a long travel of more than 10 a long time in effective operations within the
commerce in NBFC segment. But when comparison is made between them on the
application of CAMEL show.
NSB ACADEMY, BANGALORE 1|Page

CHAPTER 1
INTRODUCTION AND INDUSTRY

PROFILE

1.1.INTRODUCTION
Managing an account framework Banks and keeping money in India have been classified
into different bunches. In its exercises, each gather has its claim set of focal points and
disadvantages. They have their possess particular target group of onlookers. A few work
solely within the country segment, whereas others work in both provincial and urban
settings. The majority of them as it were serve cities and major towns. The keeping money
industry is one of the foremost fundamental money related columns of the monetary
division, and it is basic to the economy’s working. It is basic for a country’s financial
improvement that its exchange, mechanical, and cultivate subsidizing needs are taken care
of with more noteworthy commitment and duty. As a result, a country’s progress is
inseparably related to the advancement of keeping money. In today’s economy, banks
ought to be seen as advancement pioneers instead of cash vendors. They play a pivotal
part in store mobilization and credit dispensing to numerous divisions of the economy.
The Save Bank of India (RBI), commercial banks, agreeable banks, and improvement
banks include India’s keeping money framework (advancement back teach). The core of
India’s money related framework is these educate, which serve as a assembly point for
savers and speculators. Banks play a crucial part within the advancement of destitute
nations by mobilizing assets and productivelydistributing them
1.2. Meaning of NBFC
An NBFC may be a company enlisted beneath the Companies Act, 1956 (‘Act, 1956’) or
Companies Act, 2013 (‘Act, 2013’) and is locked in within the trade of budgetary
institution. Segment 45I (f) of the RBI Act, 1934 characterizes ‘‘non-banking financial
company’’ as –
(i) a money related institution which could be a company;
(ii) a non-banking institution which may be a company and which has as its central
commerce the accepting of stores, beneath any plot of course of action or in any other
way, or loaning in any way;
(iii) such other non-NBFC institution or course of such teach, as the NBFC may, with the
past endorsement of the Central Government and by notice within the Official Newspaper,
indicate;

Segment 45I(c) of the RBI Act, 1934 characterizes the term “financial institution” as –
‘‘financial institution’’ implies any non-NBFC institution which carries on as its

commerce or portion of its trade any of the taking after exercises, namely:–
(i) the financing, whether by way of making advances or progresses or something else, of
any action other than its claim:
(ii) the procurement of offers, stock, bonds, debentures or securities issued by a

Government or nearby specialist or other attractive securities of a like nature:
(iii) letting or conveying of any merchandise to a hirer beneath a hire-purchase assention

as characterized in clause (c) of area 2 of the Hire-Purchase Act, 1972:
(iv) the carrying on of any lesson of protections trade;
(v) overseeing, conducting or administering, as foreman, specialist or in any other

capacity, of chits or kuries as characterized in any law which is for the time being in
constrain in any State, or any trade, which is comparable thereto;
(vi) collecting, for any reason or beneath any conspire of course of action by anything
title called, monies in protuberance entirety or something else, by way of memberships or
by deal of units, or other rebellious or in any other way and granting prizes or blessings,
whether in cash or kind, or disbursing monies in any other way, to people from whom
monies are collected or to any other individual, but does not incorporate any institution,
which carries on as its foremost business,–
• rural operations; or
• mechanical action; or
• the buy or deal of any merchandise (other than securities) or the giving of any
administrations; or
• the buy, development or deal of undaunted property, so be that as it may, that no parcel
of the salary of the institution is determined from the financing of buys, developments or
deals of undaunted property by other people The Companies which falls exterior the
domain of the definition - money related institution those companies are known as non-
banking non-financial companies. Moreover, the term foremost trade has not been

characterized by RBI. Be that as it may, there are different administering which emphasize
on the different parameters viz. past history of the party, current and past year's sending
of the capital, breakupof the income earned during the important and past a long time, the
nature of exercises and the aim of the party. In arrange to identify a specific company as
an NBFC, RBI came with a foremost trade model.
In Walk 27, 2015 the foremost expected warnings had been given changing the web
claimed subsidize prerequisites, Acceptance of Public Stores Headings, 1998, Store
Tolerating or Holding Prudential Standards Bearings, 2007, Figure Headings, 2012 and
gave unused rules viz. NBFC-ND-NSI Prudential Standards Headings, 2015 and NBFC-
ND-SI Prudential Standards Bearings, 2015.
1.2.1. List of top 50 NBFC companies
Here is a list of the top 50 non-banking financial companies (NBFCs) in India, according
to their market capitalization as of December 2021:
1. Housing Development Finance Corporation Limited (HDFC)

2. Bajaj Finance Limited
3. Shriram Transport Finance Company Limited
4. Mahindra & Mahindra Financial Services Limited
5. Bajaj Finserv Limited
6. Cholamandalam Investment and Finance Company Limited
7. ICICI Bank Limited
8. Indiabulls Housing Finance Limited
9. L&T Finance Holdings Limited
10. Shriram City Union Finance Limited
11. Reliance Capital Limited
12. Religare Enterprises Limited
13. HDFC Bank Limited
14. ICICI Prudential Life Insurance Company Limited
15. Birla Sun Life Insurance Company Limited
16. Tata AIA Life Insurance Company Limited
17. Kotak Mahindra Bank Limited
18. Aditya Birla Sun Life Insurance Company Limited

19. Max Financial Services Limited

20. PNB Housing Finance Limited
21. M&M Financial Services Limited
22. ICICI Lombard General Insurance Company Limited
23. Bajaj Allianz Life Insurance Company Limited
24. HDFC Standard Life Insurance Company Limited
25. Kotak Mahindra Old Mutual Life Insurance Limited
26. Reliance Nippon Life Insurance Company Limited
27. Tata AIG General Insurance Company Limited
28. Birla Sun Life Asset Management Company Limited
29. ICICI Prudential Asset Management Company Limited
30. Reliance Capital Asset Management Limited
31. HDFC Asset Management Company Limited
32. Kotak Mahindra Asset Management Company Limited
33. Franklin Templeton Asset Management (India) Private Limited
34. SBI Life Insurance Company Limited
35. Aditya Birla Capital Limited
36. Edelweiss Financial Services Limited
37. Motilal Oswal Financial Services Limited
38. Reliance Home Finance Limited
39. Shriram Housing Finance Limited
40. Indiabulls Ventures Limited
41. ICICI Securities Limited
42. HDFC Securities Limited
43. Kotak Securities Limited
44. IIFL Securities Limited
45. Reliance Securities Limited
46. Angel Broking Limited
47. Sharekhan Limited
48. Zerodha Brokerage Limited
49. ICICI Direct (ICICI Securities Limited)
50. HDB Financial Services Limited

1.3. NBFC’s important in Indian economy
Growth
In terms of year-on-year (YoY) development rate, the NBFC segment beat the managing
an account division in contributing to the economy each year. On an normal, this portion
developed by 22% each year, in its beginning stages. In spite of the lull within the
economy and various mishaps confronted within the final few a long time, the segment is
still developing and upgrading operations.
Benefit
NBFCs have been more beneficial than the managing an account segment since of lower
costs. This empowered them to offer cheaper credit to clients. As a result, the sum of cash
loaned to clients by NBFCs is higher than that of the keeping money segment with more
clients picking for NBFCs.
Improving the Monetary Showcase

An NBFC caters to the urban and country destitute companies and plays a complementary
part in money related consideration. These money related companies bring much-needed
differing qualities to the market by differentiating the dangers, expanding liquidity within
the markets subsequently bringing productivity and advancing money related soundness
to the money related division. They highlight the open issues of enterprises as well as
giving reserves required by the start-up companies as capital. The money related advertise
is subordinate on the capacities that are taken care of by these loaning companies.
Foundation Loaning
NBFCs by loaning to framework ventures, contribute generally to the economy. Typically
exceptionally vital for the development of a creating nation like India. The sum included
is very huge, the ventures being hazardous, with no surety of returns, and benefits
happening after a longer time-frame. These components discourage banks from financing
these ventures. Since their initiation, NBFCs have contributed more to framework loaning
than banks.

Advancing Comprehensive Development

All the best NBFC in India cater to a wide assortment of clients – both in urban and rustic
zones. They fund ventures of small-scale companies, which is imperative for the
development in country ranges. They moreover give small-ticket advances for reasonable
lodging ventures. Microfinance given by them plays an critical part to attain steady
budgetary incorporations. All these activities by the institution with an NBFC Permit offer
assistance advance comprehensive development within the nation.
Upliftment within the Work Segment

With the development in operations of the little businesses and businesses, the
arrangements of NBFCs are uplifting the work circumstance. More openings for business
are emerging with the impact of the NBFCs within the private as well as government
segments. The commerce exercises within the private segment give more business
openings and occupation hones. And NBFC play a key part in their development and
soundness.
Mobilization of Resources
With more open inclining toward to store in NBFCs since of their higher rate of intrigued,
NBFCs permit mobilization of assets; stores and capitals. Due to their less demanding
standards for contributing, these companies make a adjust between intra-regional pay and
resource dissemination. Turning the reserve funds into ventures, these companies
contribute to financial improvement as compared to conventional bank hones.
Appropriate organization of capital makes a differencewithin the improvement of the
exchange and industry, driving to financial advance. They work not plans to expand their
benefit and are, hence, locked in in exercises that create zero or exceptionally moo
income.
Financing for Long-Term

NBFC play a key part in giving firms with reserves through value cooperation. As against
conventional banks, NBFCs supply long-run credit to exchange and commerce industry.
They encourage to finance huge foundation ventures and boost financial advancement.
Long-term fund licenses development with steady and delicate intrigued rates. The
economy flourishes when businesses of SSIs and MSMEs prosper.

Raising the Standard of Living

NBFCs collaborate with the government for the upliftment of the society. The NBFCs
draw in stores from the common open and change over it into capital for mechanical and
other divisions for smooth financial advancement. The rise in businesses thus raises the
request for workforce and makes business openings raises the obtaining control of people
and, along these lines, raising requests. This works to update the living guidelines of a
society. Too, remote stores are pulled in to these budgetary educate and bolster financial
handle and advancement.
Imaginative Items
NBFCs, by being adaptable in terms of loaning and venture openings than banks, are more
proactive in enhancing budgetary items. This facilitates their development in an
exceedingly judicious way. They fine-tune their offering campaigns in respect to their
target clients. These organizations are the diversion changers inside the creating economy.
For occurrence, the factorization & charge installment benefit has been revolutionized.
NBFC P2P could be a generally unused portion in India that's as of now making waves
by giving impressively higher edges and encouraging credits at a lower fetched.
The managing an account division would continuously be most vital within the field of
commerce since of its validity in supporting fabricating, infrastructural development and
indeed being the spine for the common man’s cash. But in spite of this, the NBFC sector’s
part is basic and its nearness in a country only helps boost the economy within the right
course.
1.4. Comparative investigation

Comparative investigation may be a way to see at two or more comparable things to see
how they are different and what they have in common. It is utilized in many ways and
areas to assist individuals get it the similitudes and contrasts between items way better. It
can offer assistance businesses make great choices around key issues.

1.4.1. Comparative financial analysis
Comparative monetary articulations are the total set of monetary articulations that
an substance issues, uncovering data for more than one announcing period. The
budgetary articulations which will be included in this bundle are as takes after:
• The salary explanation (appearing comes about for different periods)
• The adjust sheet (appearing the monetary position of the substance as of more than
one adjust sheet date)
• The statement of cash streams (appearing money streams for more than one period)
It is standard to issue comparative budgetary articulations with extra columns

containing the change between periods, as well as the rate alter between periods.
1.4.2. Profit and loss statement
The benefit or misfortune account or pay explanation speaks to the incomes and
costs, the net benefit and misfortune of a trade firm as on final date of the
bookkeeping period.
1.4.3. Balance sheet
A adjust sheet could be a articulation which unveils the resources, liabilities and
the net worth of a commerce firm as on the final date of the bookkeeping period.
1.4.4. Cash flow explanation
A cash stream articulation could be a monetary articulation that gives total

information with respect to all cash inflows that a company gets from its continuous
operations and outside speculation sources. It too incorporates all cash surges that
pay for trade exercises and investments amid a given period.
NSB ACADEMY, BANGALORE 10 | P a g e

1.4.5. Money related explanation
The procedure of basic appraisal of the financial realities contained within the
money related articulations to be able to recognize and make choices with respect
to the operations of the organization is called ‘Financial Articulation Analysis’. It
is fundamentally a watch of relationship among different monetary records and
figures as given in a difficult and quick of financial articulations, and the translation
thereof to advantage an discernment into the productivity and operational execution
of the firm to assess its financial wellbeing and future prospects.
1.4.6. Area of budgetary investigation
There are zones where the execution can be progressed by successful assess ment of
different exercises performed by a commerce venture in several ranges of
operations. The ranges of operations may be named as the regions of execution.
• Liquidity investigation.
• Profitability analysis.
• Money related structure examination.
• Working capital investigation.
• Action investigation.
1.5. TOOLS/TECHNIQUES Utilized FOR Examination
A number of such strategies are utilized by the budgetary investigator, but the
foremost well known bookkeeping strategies are being utilized for the reas on of
consider.

Accounting techniques
Bookkeeping procedures or tool which may utilize for budgetary investigation are
numerous such as proportion investigation, common-size explanation examination,
drift examination, comparative examination, Support stream Investigation, cash
stream Investigation, esteem added analysis etc. The clients choose up the methods
to suit their prerequisites additionally on the premise of information accessible to
them.
Proportion investigation (Ratio)
Investigation of monetary articulation based on proportions is known as proportion

examination. Proportion examination may be amethod of showing inner and outside
occasions influencing the commerce exchange relating to its operations, working
comes about and accomplishment of pre-determined objectives and destinations of
a business in brief and outline frame. Agreeing to Belverd-E-Needless “Ratio guides
or brief cuts that are valuable in assessing the budgetary position and operations of
a company and in comparing them with past a long time or with other companies.
The essential reason of proportion is to point out zones for advance examinations.
They ought to be utilized in association with a common understanding of the
company and its environment.” In brief proportion investigation is the method of
deciding and showing is the relationship of things or group of things within the
money related articulation.
1.6. CAMEL APPROACH
The CAMEL Rating System may be a contraption of score for on-site evaluations
of NBFC establishments (Barr et al., 2002). The Uniform Money related Institution
Rating contraption, more often than not taken note the shortened form CAMEL
score, changed into gotten by strategy for the Government Money related Institution
Examination Chamber on November 13 1979, after which embraced by means of
the National Credit Union Organization in October 1987 (The Joined together
States, Uniform Monetary Teach Rating Framework, 1997). It is seen to be a
compelling inward supervisory contraption for surveying the unfaltering quality of

cash related organizations for the foremost portion NBFCs. Beneath this
framework, each NBFC institution issue to onsite exam is assessed on the preface
of five (presently six) vital measurements alluding to its operations and in general
execution, which are called the component components.
The NBFCs were judged on five distinctive components beneath the acronym
C-A-M-E-L:-
C – Capital Ampleness
A – Resource Quality
M – Administration Soundness
E – Profit Capacity
L – Liquidity and
Beneath this system, each monetary organization issue to on area test is evaluated
on the reason of five (directly six) pressing estimations insinuating to its exercises
and in common execution, which are known as the segment components. These are
Capital Ampleness, Resource Quality, Administration Proficiency, Profit Quality
and Liquidity. These parameters are utilized to reflect the working execution, cash
related execution and authoritative consistence of the money related establishment
world over. A 6th portion implying to Affectability to exhibit danger has been
included to the CAMEL score in 1996 to form the rating system progressively
chance cantered. Every one of the section components is evaluated on a estimate of
1 (best) to 5 (most recognizably appalling). A composite rating is consigned that's
taken as the beat marker of a NBFC's display financial condition. The NBFCs rating
are noticeably mystery, and handiest displayed to the NBFC's senior control for the
clarification for expecting commerce frameworks, and to appropriate supervisory
staff (Rush and Lopez, 1999). The CAMEL parts completely reflect the prosperity
and adequacy of NBFCs (Barr et al., 2002). RBI has recognized this framework for
evaluating the common execution of Indian Commercial NBFCs (Bodla and Verma,

2006). The CAMEL rating isa supervisory rating contraption some time recently all
else made interior the U.S. To arrange a financial foundation's common condition.
It's connected to each NBFC and credit association inside the U.S. (ar ound 8,000
establishments) and is besides executed exterior the U.S. by different NBFC
supervisory controllers. The scores are designated subordinate on a extent
examination of the financial decrees, mixed in with on-website page appraisals
made through a picked supervisory controller. In the U.S. these supervisory
controllers incorporate the Government Save, the Office of the Comptroller of the
Money, the National Credit Union Organization, and the Government Store
Protections Organization. Appraisals are not released to the common populace
however best to the pinnacle the administrators to spare you a attainable NBFC run
on a gathering which gets a CAMEL rating minimize. Foundations with breaking
down conditions and declining CAMEL rankings are challenge to frequently
creating supervisory examination. Bombarded foundations are inevitably settled
through routine goals framework intended to shield retail financial specialist.
1) Capital Ampleness
The capital base of money related teach encourages investors in shaping their
hazard recognition almost the teach. Moreover, it is the key parameter for budgetary
managers to maintain ampleness levels of capitalization. Additionally, other than
retaining unforeseen stuns, it signals that the institution will proceed t o honor its
commitments. The foremost broadly utilized marker of capital ampleness is capital
to riskweighted resources proportion (CRWA). Agreeing to NBFC supervision
control committee (The Basel Committee) of NBFC for worldwide settlements, a
least 8 percent CRWA is required. Capital ampleness eventually decides how well
budgetary educate can adapt with stuns to their adjust sheets. Hence, it is valuable
to track capital-adequacy ratios that take into consideration the foremost critical
monetary dangers- outside trade, credit and intrigued rate risks-by doling out hazard
weightings to the institution’s assets.
Capital cushions fluctuations in profit so that credit unions can proceed to function
in periods of misfortune or unimportant profit. It too gives money related
administrations. It serves to bolster growth as a free source of stores and gives

assurance against bankruptcy. Whereas assembly statutory capital prerequisites

may be a key calculate in determining capital adequacy, the credit unions operatio ns
and chance position may warrant extra capital past the statutory prerequisites.
Keeping up an satisfactory level of capital may be a critical element.
Deciding the ampleness of a credit unions capital starts with a subjective assessment
of basic factors that straightforwardly bear on the teach generally money related
condition. The analyst ought to moreover consider the connect connections with the
other ranges.
• Capital level and slant examination.
• Compliance with profit exchanges prerequisites and risk-based net worth

necessities;
• Composition of capital;
• Intrigued and profit arrangements and hones;
• Ampleness of the stipend fro credit and rent account; quality,sort, liquidity and
expansion of resources, with specific reference to classified resources;
• Advance and speculation concentrations;
• Development plans;
• Capacity of management to control and screen chance, counting credit and

intrigued rate chance;
• Profit: great verifiable and current profit execution empowers a credit union to
support its development, stay competitive, and keep up a solid capital positions:
• Liquidity and support administration.

2) Asset Quality
Resource quality decides the vigor of money related educate against misfortune of esteem
within the resources. The falling apart esteem of resources, being prime source of
NBFCing issues, specifically pour into other regions, as misfortunes are in the long run
writtenoff against capital, which eventually jeopardizes the profit capacity of the
institution. With this background, the resource quality is gaged in connection to the level
and seriousness of non-performing resources, ampleness of arrangements, recuperations,
dissemination of resources etc.
The dissolvability of money related educate regularly is at hazard when their resources
gotten to be impeded, so it is imperative to screen markers of the quality of their resources
in terms of overexposure to particular dangers, patterns in nonperforming advances, and
the wellbeing and benefit of NBFC borrowers-especially the corporate segment. Share of
NBFCs resources within the total budgetary division resources: Within the most rising
markets, NBFC division resources contain well over 80 percent of add up to money
related segment resources, while these figures are much lower within the created
economies. Besides, stores as a share of add up to NBFC liabilities have declined since
1990 in numerous created nations, whereas in creating nations open stores proceed to be
overwhelming in NBFCs. In India, the share of NBFC resources in add up to money
related division resources is around 75 percent, as of end-March 2008.Even when part of
NBFCs is clearly reducing in rising markets, substantively, they proceed to play a driving
part in non money related exercises, counting the advancement of budgetary markets.
3) Administration productivity
Administration of budgetary institution is for the most part be assessed in terms of capital
ampleness, resource quality, profit and productivity, liquidity and chance affectability
appraisals. In expansion, execution assessment incorporates compliance with the set
standards, capacity to arrange and respond to changing circumstances, technical
competence, authority and authoritative capacity. In impact, administration appraisals is
just an amalgam of execution within the over specified regions. Sound administration is
one of the foremost vital components being budgetary teach execution. Pointers of quality
of administration, be that as it may, are fundamentally appropriate to person teach and
cannot be effortlessly amassed over the segment. Besides, given the subjective nature of

administration, it is troublesome to judge its soundness fair by looking at budgetary

accounts of the NBFC. Administration is the foremost forward looking pointer of
condition and the key determinant of whether a credit union is able to accurately analyze
and react to budgetary stretch. The administration component gives analysts with the
objective, and not absolutely subjective, pointers. An appraisal of administration of not
exclusively subordinate on the current money related condition of the credit union and
will not be an normal of the other component rating.
4) Profit quality
Profit and benefit, the prime source of increment in capital base, is inspected with respects
to intrigued rate approaches and ampleness of provisioning. In expansion, it too makes a
difference to back show and future operations of the teach. The single best pointer utilized
to gage winning is the Return in Resources (ROA), which is net wage after charges to add
up to resource proportion.
Solid profit andbenefit profile of NBFCs reflects the capacity to back display and future
operations. More particularly, this decides the capacity to assimilate misfortunes, back its
extension, pay profits to its shareholders, and construct up an satisfactory level of capital.
Being front of resistance against disintegration of capital base from misfortunes. The
require for tall profit and benefit can barely be overemphasized. Chronically unbeneficial
monetary teach hazard indebtedness. Compared with most other pointers, patterns in
productivity can be more troublesome to interpret-for occasion, curiously tall productivity
can reflect over the top chance taking.
5) Liquidity
An satisfactory liquidity position alludes to a circumstance, where institution can get

adequate stores, either by expanding liabilities or by changing over its resources rapidly
at a sensible taken a toll. It is, in this manner, for the most part assessed in terms of in
general resources and liability administration, as bungling gives rise to liquidity hazard.
Productive support administration alludes to a circumstance where a spread between rate
delicate resources (RSA) and rate delicate liabilities (RSL) is kept up. The foremost
commonly utilized apparatus to assess intrigued rate introduction is the hole between RSA
and RSL.

CHAPTER 2
PROFILE OF THE COMPANY

2.1. BAJAJ FINANCE
Initially consolidated as Bajaj Auto Fund Constrained on Walk 25, 1987, as a non-banking
monetary company, fundamentally centered on giving two and three-wheeler fund. After
11 a long time within the auto back advertise, Bajaj Auto Fund Ltd propelled its beginning
open issue of value share and was recorded on the Bombay Stock Trade and National
Stock Trade of India. At the turn of the 20th century, the company wandered into the buyer
durables back division and begun advertising small-size advances at zero intrigued rates.
Within the ensuing a long time, Bajaj Auto Fund expanded into business and property
credits as well.
Within the year 2006, the company's resources beneath administration hit the Rs.1,000
crore stamp and are right now at Rs.52,332 crore. 2010 saw the company's enlisted title
alter from Bajaj Auto Back Restricted to Bajaj Fund Constrained.
As of Walk 2022, the company bargains in buyer loaning, SME (little and medium-sized
undertakings) loaning, commercial loaning, country loaning, stores, and riches
administration. And, has 294 buyer branches and 497 provincial areas with over 33,000+
conveyance focuses. The company detailed a pre-tax benefit of Rs.626 crores and a post-
tax benefit of Rs.408 crores at a ROA of 0.8% and ROE of 5.1% in Q2 FY17.
As of June 2022, Bajaj Fund has been working with RBL Bank and DBS Bank to issue
co-branded credit cards. But, after the Save Bank of India opened the entryway for non-
banking monetary companies to enter the credit card industry, the company plans to
present its credit card items by the starting of the primary quarter of 2023.
In January 2023, the company discharged its long-term methodology (LRS) to direct
development through diverse online and offline items. Beneath that methodology, Bajaj
Fund propelled its advance against property (LAP) trade for micro, little, and medium-
sized undertaking (MSME) customers, and has plans to dispatch unused auto advances
within the moment quarter of 2024, microfinance within the fourth quarter of the same
year, and tractor financing within the to begin with quarter of 2025.
Bajaj Fund may be a non-banking money related company (NBFC) in India, which may
be a auxiliary of Bajaj Finserv. It is one of the biggest NBFCs within the nation,
advertising a wide run of monetary items and administrations such as individual credits,

trade advances, domestic advances, customer strong advances, credit cards, protections,
and more.Bajaj Fund features a solid nearness in both urban and provincial ranges of
India, with over 2000 branches and more than 50,000 dispersion focuses. The company
has been consistently growing its advance book and extending its client base over the a
long time. It is known for its imaginative items, fast advance disbursals, and great client
service.However, like every budgetary company, Bajaj Fund moreover faces different
dangers such as credit chance, showcase hazard, and liquidity hazard. Speculators ought
to carefully assess these dangers some time recently contributing within the company's
stock or any of its money related items.
Bajaj Fund includes a credit rating of AAA by both CRISIL and ICRA, showing its tall
financial soundnessand budgetary soundness. It is additionally recorded on the Bombay
Stock Trade (BSE) and the National Stock Trade (NSE) in India.The company contains a
differentiated credit book, with a center on retail credits, which make up around 68% of
its advance resources. Inside retail credits, individual advances and consumer tough
credits are the two biggest fragments. The company moreover incorporates a critical
nearness within the country showcase, with over 50% of its modern advances coming
from rural areas.Bajaj Fund incorporates a client base of over 47 million as of Walk 2021
and has been extending its reach through vital associations with different e-commerce
stages and retailers. It has moreover been contributing in innovation and advanced
activities to improve client encounter and increment productivity.
Within the financial year 2021, Bajaj Back detailed a solidified net benefit of INR 4,430
crore (USD 592 million) and a add up to pay of INR 24,458 crore (USD 3.27 billion).
However, the COVID-19 widespread has influenced its trade operations and come about
in an increment in its net non-performing resources (GNPAs).Overall, Bajaj Back may be
a legitimate and set up NBFC in India, with a solid nearness within the retail loaning
section and a differentiated credit book. Be that as it may, as with any venture, it is basic
to carefully evaluate the company's budgetary wellbeing and dangers some time recently
making any venture choices.

2.1.1 VISION AND MISSION
VISION
We believe that complete and true growth lies in the difference made in the lives of the
people and, not just in traditional financial metrics.
MISSION
We seek to play a pivotal role in addressing the unmet investment needs by delivering
innovative products and solutions to our investors and help them meet their financial
goals.
2.1.2. Funding and investment
The parent company, Bajaj Back Constrained, holds 57.28% of the whole shares and
contains a controlling stake within the backup. Other major speculators incorporate
Maharashtra Bikes Restricted, the Government of Singapore, Little cap World Finance
INC, and Pivot Long Term Value Finance.
Agreeing to an trade recording in 2022, the company's resources beneath administration

surpassed Rs 2 lakh crore, a 31 percent increment.
In 2017-18, Bajaj Back procured a 12.6 percent intrigued within the versatile wallet
company Mobi Kwik. Bajaj Back and Sequoia Capital India had arranged to offer Mobi
Kwik offers worth around Rupees 69 crore and Rupees 95 crore, individually, through an
Introductory Open Advertising in 2021, which has been put off due to the poor economic
conditions.
2.2. CHOLAMANDALAM FINANCE
Cholamandalam Investment and Fund Company Constrained, moreover known as

Cholamandalam M Back, could be a money related administrations company based in
India. It may be a portion of the Murugappa Bunch and offers different budgetary items
and administrations such as vehicle back, domestic advances, SME credits, and credit
against property.

Cholamandalam M Back was set up in 1978 and has its central station in Chennai, Tamil
Nadu. The company features a nearness in over 900 areas over India and serves customers
in both urban and rustic zones. It encompasses a diverse client base, counting people, little
and medium ventures (SMEs), and corporates.
The company is known for its solid chance administration hones and has gotten a few
grants for its execution and client benefit. It is additionally committed to social obligation
and has actualized different activities for the improvement of society, particularly within
the ranges of instruction, healthcare, and environment.Cholamandalam M Fund is
recorded on the National Stock Trade (NSE) and Bombay Stock Trade (BSE) in India.
As of September 2021, the company had a showcase capitalization of over Rs. 43,000
crore.
The company's vehicle finance division gives financing for commercial vehicles, cars,
tractors, and two-wheelers. Its domestic advances division offers lodging fund for the buy
of modern or existing homes, development, and domestic enhancements. The SME credits
division caters to the financing needs of little and medium ventures, whereas the loan
against property division gives advances against commercial and private properties.
Cholamandalam M Back incorporates a solid computerized nearness and offers online

administrations such as credit applications, account administration, and installments. It
has moreover propelled portable apps to supply a consistent client encounter.
The company has gotten a few honors for its execution and client benefit. It was granted
the Most excellent Performing National Money related Institution by Service of Country
Advancement, Government of India, in 2018. It was moreover recognized as the Finest
NBFC in Country Financing by National Organized of Rustic Advancement and
Panchayati Raj in 2019.
Cholamandalam M Fund is committed to economical improvement and has executed

different activities for natural and social duty. It has propelled a few programs
for rustic advancement, instruction, healthcare, and women's strengthening. It has

moreover taken activities to diminish its carbonimpression and advance feasible hones.

VISION
We believe in our vision, staying focused and determined to fulfil the dreams and
aspiration of million of Indians.
MISSION
The mission of Chola is to enable customers enter a better life and create value for our
customers.
2.3. MUTHOOT FINANCE LIMITED
Muthoot Fund confined is that the greatest gold subsidizing organization in Asian country
as so much as credit portfolio. The organization offers person and trade progresses
confirmed by gold decorations or Gold Credits fundamentally to those who have gold
diamonds be that as it may may not get to formal credit inside a keen time or to whom
credit might not be open in any regard to fulfill unexpected or diverse temporal liquidity
conditions. The organization is headquartered in Kerala. The organization's totally had
reinforcement Muthoot Protections Brokers Pvt confined (MIBPL) is allowed as an
momentary businessperson by IRDAI since 2013 and is viably appropriating each life and
non-extra security comes about of different protections offices. Muthoot Finance's another
completely claimed assistant Muthoot Domestic blade (India) limited may be a lodging
account organization with a push on direct lodging support. Muthoot Finance's assistant
Belstar Venture and Back individual confined (BIFPL) may be a microfinance
organization. Muthoot Back holds sixty six.61% of consequence share capital of BIFPL.
Muthoot Finance's inaccessible assistant Asia quality Fund PLC (AAF) capital of Sri
Lanka is locked in with Retail Back lease Buy and Commerce Credits. Muthoot Fund Ltd
was amalgamate on Walk fourteen 1997 as a in private closely-held trade with the title
The Muthoot Back Pvt Ltd. The organization is progressed by M G George St. George
saint benefactor holy person St. George saint benefactor saintSt. George saint supporter
holy person Muthoot George Thomas Muthoot George Jacob Muthoot and George
Alexander Muthoot. The organization's working history created over a time of a extended
time since M Holy person George Muthoot (the dad of the promoters) set up a gold

development trade in 1939 underneath the estate of relate degree trading trade begun by
his father Ninan Mathai Muthoot in 1887.
Within the year 2001 the organization noninheritable the permit from count to figure as a
NBFC. inside the year 2005 per the orchestrate of solidification Muthoot Ventures
individual Ltd was amalgamated with the organization with affect from Walk twenty two
2005. In might sixteen 2007 the title of the organization was renovated from The Muthoot
Fund Pvt Ltd to Muthoot Back Pvt Ltd. all through the year 2008-09 the organization
opened 278 unused branches over completely diverse states. Moreover they opened
common work environments in Deals and Visakhapatnam. In Gregorian calendar month
eighteen 2008 the organization was altered over into open strained organization
additionally the title was altered to Muthoot Back Ltd. They non inheritable modern count
permit to figure as a NBFC whereas not enduring open stores behind adjustment in title
as it were. Through out the year 2009-10 the organization encased 620 modern branches.
per the organize of de-merger the radio trade of the organization was de-consolidated and
touched to Muthoot Broadcasting Pvt Ltd with affect from Jan 01 2010.The organization
opened 316 modern expanded between Gregorian calendar month 2010 to Admirable
2010. all through the year 2010 the organization's department organize crossed 1600
branches retail development portfolio crossed Rs. 7400 huge numbers retail debenture
portfolio crossed Rs 2700 expansive numbers web had Accounts crossedRs five hundred
expansive numbers web annually pay crossed Rs one thousand expansive numbers and
NBFC credit limits crossed Rs 1700 expansive numbers. In 2011 the organization's retail
development portfolio crossed Rs 15800 expansive numbers retail debenture portfolio
crossed Rs 3900 expansive numbers web claimed saves crossed Rs 1300 expansive
numbers web annually profit crossed Rs 2300 huge numbers NBFC credit restrain crossed
Rs 6000 expansive numbers and department organize crossed 2700 branches. all through
the year Muthoot Fund got alphabetic character hypotheses of Rs 255.68 expansive
numbers from Framework accessories LLC The Welcome Believe Kotak alphabetic
character Kotak Speculations and husking Asian country alphabetic character.

VISION
Be the most trusted, globally diversified institution enriching lives of the masses while
contributing back to the society.
MISSION
To build leading customer-centric business enable by technology, maintaining the highest

standard of corporate goverance and uncompromissiog values.
2.4. MOTILAL OSWAL
Motilal Oswal may be a well-known Indian budgetary administrations company that was
established in 1987 by Motilal Oswal and Raamdeo Agrawal. The company offers a wide
run of money related items and administrations counting stockbroking, riches
administration, venture keeping money, regulation broking, resource administration,
private value, product broking, money broking, and more.
Motilal Oswal is known for its research-based venture approach and has won a few grants
and accolades for its investigate capabilities. The company features a group of over 30
inquire about investigators who give speculation suggestions and exhortation to clients
based on in-depth investigation and market bits of knowledge.
In expansion to its monetary administrations offerings, Motilal Oswal too works a web
exchanging platform called "Motilal Oswal Exchanging" which permits clients to
exchange in values, subsidiaries, commodities, and money.
Generally, Motilal Oswal may be a well-respected and legitimate budgetary

administrations company in India, known for its research-based approach and wide extend
of offerings.
VISION
To realize brilliance in all our endeavors whereas conveying predominant esteem to

partners & pleasing them.

MISSION
Contribute all assets and energies in conveying tall quality Items and administrations
through Development, capability, Upgrade & individuals Activities, based on the
establishment of our center values.
2.5. KOTAK MAHINDRA BANK
Kotak Mahindra Restricted is an Indian money related administrations company

headquartered in Mumbai, Maharashtra. It offers a wide extend of monetary items and
administrations to individuals and businesses, counting managing an account, riches
administration, protections, resource administration, and venture keeping money.
The company was established in 1985 as Kotak Mahindra Fund Constrained by Uday
Kotak, and it got to be the primary non-banking money related company in India to be
changed over into a bank when it gotten its managing an account permit from the Save
Bank of India in 2003. Nowadays, Kotak Mahindra Bank is one of the biggest private
division banks in India, with a organize of over 1,600 branches and 2,500 ATMs over the
nation.
Kotak Mahindra Constrained too has backups in different divisions, such as Kotak
Mahindra Life Protections Company Restricted, Kotak Mahindra Common Protections
Company Constrained, Kotak Mahindra Resource Administration Company Restricted,
and Kotak Venture Advisors Constrained.
Items and administrations
Kotak Mahindra Bank offers a wide extend of budgetary items and administrations,
counting investment funds accounts, current accounts, credit cards, personal loans, home
credits, commerce advances, exchange fund, corporate keeping money, speculation
keeping money, riches management, and protections.
Grants and acknowledgments
Kotak Mahindra Bank has received numerous awards and acknowledgments for its
execution and administrations, counting the Most excellent Private Division Bank grant
by the Money related Express in 2020, the Leading Computerized Bank grant by the

Financial Times in 2021, and the Most excellent Bank grant by Euromoney Grants for
Greatness in 2020.
Social activities
Kotak Mahindra Bank is additionally effectively included in different social activities,

such as advancing monetary proficiency, supporting instruction, healthcare, and
environment preservation, and engaging ladies and country communities.
Corporate administration
Kotak Mahindra Bank incorporates a solid corporate administration system and has
beenrecognized for its transparent and moral commerce hones. It is additionally a
signatory to the Joined together Countries Worldwide Compact and has committed to
actualizing economical and capable commerce hones.
Monetary execution
As of Walk 2021, Kotak Mahindra Bank had add up to resources of INR 4.1 trillion
(approx. USD 55 billion) and a net benefit of INR 6,339 crore (approx. USD 850 million).
The bank contains a solid credit rating and has been appraised AAA by CRISIL and ICRA,
showing tall financial soundness.
VISION
Kotak Bank's vision is to be the best & leading financial service provider with high value
for customer service.
MISSION
A culture of empowerment and a spirit of enterprise attracts bright minds with an

entrepreneurial streak to join us and build long-term careers with us.

CHAPTER 3
RESEARCH DESIGN/METHODOLOGY

3.1. STATEMENT OF PROBLEM
The show ponder essentially centered on the comparative investigation of Bajaj Back
Restricted, Muthoot Back, Cholamandalam Fund, Motilal Oswal and Kotak Mahindra
constrained Over the a long time, different endeavors have been made by the analysts and
academicians to assess the money related position and investigation of different money
related teach from distinctive angles of CAMEL demonstrate. But there's no seminal work
made on the examination of the monetary position of NBFCs separately in India. So, the
display ponder has attempted to highlight this untouched range.
3.2. NEED OF THE STUDY
Since 1992-1993, the structure of Indian NBFC framework has experienced a few
changes in terms of scope, openings, opportunity buoyancy etc. Numerous ponders have
been conducted on application of CAMEL approach to banks and this consider
concentrates on the application of CAMEL approach to driving Non-banking monetary
enterprise.( Bajaj Back Restricted, Muthoot Fund, Cholamandalam Back, Motilal Oswal
and Kotak Mahindra constrained)
3.3. SCOPE OF THE STUDY
The ponder basically points to analyze the comparative of Bajaj Fund, Muthoot Fund,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Constrained from NBFC in
India. This consider is based on the comparative examination of Bajaj Back, Muthoot
Fund, Cholamandalam Back, Motilal Oswal and Kotak Mahindra Constrained. The point
of the consider is to compare the budgetary execution of the companies for the period of
five years utilizing CAMEL approach, this ponder makes a difference in understanding
the significance of budgetary administration and analyzing the in general execution
utilizing the camel rating framework for NBFC division.
3.4. REVIEW OF LITERATURE
(Koley, 2019) in his term paper titled Investigation of monetary Position and investigation
of open and private division NBFCs in India: A Comparative think about on SBI and
HDFC NBFC measured the monetary position of the biggest private NBFC (HDFC) and
the largest public NBFC (SBI). The most objective of this consider was to ponder the
centrality of these NBFCs as the advertise capitalizations of these NBFCs are the most

elevated. This consider secured the period from 2013-14 to 2017-18 and utilized CAMEL
approach to degree the budgetary position, the analyst has too utilized t-test and cruel the
assess all the components of CAMEL show separately. The comes about of the think about
uncovered that the capital ampleness proportions for both the NBFCs are more than the
Basel standards for NBFC. HDFC is hazard unfavorable and tries to supply tall edge of
security to contributors. The efficiency of human asset of HDFC is superior than SBI.
Resource utilization is superior in HDFC NBFC than SBI.
(Aspal**, 2013 ) in their paper titled ‘A camel demonstrate examination of State NBFC
of India’ attempted to assess the NBFC segment as an compelling degree and marker to
check the monetary soundness of State NBFC Gather utilizing CAMEL Approach. The
comes about of the ponder uncovered that SBI had destitute obligation value proportion,
destitute execution within the terms of NPA’s comparing SBBJ and SBP. The other ratio’s
moreover uncovered that SBI was performing lower than its subsidiary NBFCs.
(Nerlekar2, 2017)in there paper title “Financial Execution Investigation of Chosen

NBFCs utilizing CAMEL Approach”, the analysts attempted to assess the examination of
eleven commercial NBFCs in India amid the period 2013 to 2017 utilizing CAMEL
approach. All the components of the acronym CAMEL were calculated separately for the
reason of examination. The comes about of the think about uncovered that Kotak
Mahindra NBFC is the foremost effective and sound NBFC budgetary investigation.
Different other NBFCs chosen for ponder moreover uncovered that a few components
were comparatively higher than Kotak Mahindra NBFC but the in general examination
uncovered Kotak Mahindra NBFC performed well in are viewpoints of investigation.
Unused device for proficiency estimation Information Envelopment Analysis (DFA) was
moreover utilized for the reason of money related comparative investigation.
Sunita Yadav inspected the comparative examination of chosen NBFCs in India in term
of benefit. This is often a auxiliary information based conceptual ponder. The ponder was
based on the Comfort Inspecting. As a test, HDFC, Indiabulls Domestic Advance And Lic
Lodging Fund Constrained, Control Back Organization Restricted, Bajaj Finserv,
Constrained is chosen. the think about was conducted for a period of 8 a long time from
April 2008 to Walk 2016.the comes about of the consider uncovered that the net benefit
proportion of the related companies are expanding from time to time, Return on venture

is on normal, Compounded yearly development rate on the essential of deals of related

company appeared negative development rate.
(1Dr.J.Shanmuganandavadivel, 2018)in their paper titled “ NBFC’s –An Indian setting

“studied the comparative investigation on NBFCs in India. It incorporates resources
quality, productivity, presentationto delicate segment and capital adequacy of NBFCs.
Most of the components of CAMEL approach are connected for the reason of ponder. The
comes about uncovered there has been a few disintegration in resource quality of NBFCs
in later a long time, but it is superior than that of NBFCs. NBFCs moreover detailed
superior benefit and capital positions.
Dhanabhakyam M. and Kvitha M., 2012 inspected the money related comparative
investigation of chosen open division NBFCs in India. Period of consider is from 2001-
2010. Six open segment NBFCs i.e., NBFC of India, Canara NBFC, Indian NBFC, Indian
abroad NBFC Union NBFC of India and State NBFC of India were considered for the
consider. Comes about of the consider uncovered that chosen open segment NBFCs have
performed well in terms of development rate and budgetary productivity.
(Sinha)Non-Banking Money related Educate of India- Their Onset, Development and

examination of Chosen NBFCs inspected the budgetary comparative investigation of the
chosen three NBFC’s. F-Test (Two Way or Complex Classifications is utilized to help in
gaging the monetary examination of three chosen NBFCs. i.e., L&T Back; Mahindra &
Mahindra Money related Administrations Ltd. and Shriram Transport Fund Organization.
The two components that have been considered for the investigation are) Three NBFCs
as said and Monetary examination Parameters comprising of Net Deals / Net Income from
Operations, Profit / Misfortune Some time recently Charge and Benefit After Charge /
Benefit or Misfortune for the period.
Sarojit Mondal within the paper titled “Comparison of Development between Non-
Banking Financial Companies and NBFCs & Their Commitment within the Indian
Economy” compared the execution of growth of Non Keeping money Money related
Companies (NBFC’s) with NBFCs and their commitment within the Indian economy.
Information have been collected from auxiliary sources and straightforward factual
apparatuses, tables have been used for the reason of think about. The study was conducted
for the period of 8 a long time from 2006to 2013. The comes about appear that the entire
resources of Non-NBFCing Money related Companies have been expanding at higher rate

than the NBFCing Sector in India and commitment to GDP of NBFC segment has been
expanding more relentlessly than that of NBFC.
Harikrishnan (2008) within the paper titled “Receivable Management in Non NBFCing
Back Companies with Uncommon Reference to Vehicle Financing”. The most objective
of the consider was to distinguish the major issues and issues in overseeing the receivable
in regard of vehicle financing of NBFCs. For the reason of ponder, information have been
collected from the essential and auxiliary sources for the period 1999- 2007. Essential
sources of information are NBFCs their channel accomplices i.e., the borrowers of
NBFCs and different websites, Reports, Diaries, and Distributions etc. are taken as
auxiliary sources. Quantitative and subjective strategies have been employed in this
consider at diverse stages and proposed that there ought to be more straightforwardness
in managing with the borrowers and intrigued rate calculation, the mode of transfer of
reprocessed vehicle has to be completely decentralized to branches for getting way better
cost, suspend the hone of transitory enlistment of vehicles, solid relationship between
merchants and NBFCs ought tobe made strides, etc.
Agawam and Sinha (2010) within the paper titled “ comparative examination of
microfinance educate of India: A cross-sectional” analyzed the different microfinance
teach working in India. For the reason of think about five stars evaluated 22 MFIs are
selected. Comparative investigation has been compared on twenty two completely
distinctive proportions. These proportions have been chosen from the detailing arrange of
Mix Market. Most of the foremost compelling playing corporation’s unit taking after
completely diverse commerce models in Republic of India. This is often reflected in
thirteen out of twenty-two parameters considered. The comes about of the ponder found
that chance scope, obligation value quantitative connection, efficiency, esteem per
collector, operational self sufficiency etc.
Kantawala (1997) considered on “Comparative investigation of Non NBFCing Back

Companies in India” for the period from 1985-86 to 1994-95 based on auxiliary
information collected from RBI Bulletins with respect to monetary and Speculation
Companies. In this examined different proportions and one way examination of variance
(ANOVA) have been connected and concluded that distinctive categories of NBFCs carry
on in an unexpected way and it is entrepreneur’s choice in the lightweight of behavior of
a few the parameters that go at the side of the lesson of NBFC

Biswas (2014) analyzes the execution of two open division NBFCs. The analyst compares
the analysis of Andhra NBFC and NBFC of geological locale by utilizing the CAMEL
demonstrate. The examination is allotted for the sum of 2011-2013 and so the data were
taken from the annual reports of the NBFCs. Kabir and Dey (2012) carried out investigate
to degree the execution of individual, Commercial NBFCs of Bangladesh by receiving
the CAMEL Model.The results appear that the national NBFCs of all round the globe
have improved their supervision quality and strategies.
3.5. HYPOTHESIS
• H0- There's no critical distinction between the investigation of of Bajaj Fund

Constrained, Muthoot Fund, Cholamandalam Fund, Motilal Oswal and Kotak Mahindra
restricted
• H1 - There's critical contrast between investigation of of Bajaj Fund Constrained,

Muthoot Back, Cholamandalam Fund, Motilal Oswal and Kotak Mahindra restricted
3.6. OBJECTIVE OF THE STUDY
• To examine the comparative investigation of Bajaj Back within the setting of CAMEL
model.
• To look at the comparative investigation of Muthoot Fund within the setting of CAMEL
show.
• To look at the comparative examination of Cholamandalam Fund within the setting of

CAMEL demonstrate.
• To look at the comparative examination of Motilal Oswal within the setting of CAMEL
show.
• To look at the comparative examination of Kotak Mahindra constrained
within the setting of CAMEL demonstrate.
• To assess the comparative investigation chosen markers of Bajaj Back Constrained,

Muthoot Back, Cholamandalam Back, Motilal Oswal and Kotak Mahindra constrained

3.7. RESEARCH METHODOLOGY
Within the examination the budgetary position of the company considered for five a long
time by utilizing implies, standard deviation, co-variation and CAMEL strategy. Based
on think about, the discoveries are summarized and recommendations are made. For the
reason of the consider auxiliary information utilized i.e., Adjust Sheet, Benefit and
Misfortune Account are collected from cash control database and yearly reports from
official site of the companies .
3.8. TYPE OF RESEARCH
The inquire about is based onexploratory ponder, which points to discover out the
comparison between the monetary comparative examination of Bajaj Fund, Muthoot
Back, Cholamandalam Fund, Motilal Oswal and Kotak Mahindra Constrained amid the
period 2018 to 2022.
3.9. TYPE OF DATA
The information for the think about collected from secondary sources.
3.10. SOURCES OF DATA
Following are the sources used to collect data
• Money control(www.moneycontrol.com)
• Annual reports of the companies.
• Official company website.
3.11. SAMPLING DESIGN AND SELECTION
Testing estimate: The think about is done on the monetary information taken from Bajaj
Fund, Muthoot Back, Cholamandalam Back, Motilal Oswal and Kotak Mahindra
Restricted based on showcase capitalization. The think about is done for a period of
fiveyears i.e.,2018-2022.
Inspecting method: The ultimate test of five NBFCs was chosen from all the NBFC
Monetary Enterprises working in India and it was chosen in terms of their longetivity of
presence within the showcase. Consequently the ultimate test for the consider was gotten

by choosing the five NBFCs that have the longest presence. The information for the think
about is gotten from auxiliary sources.
3.12. TOOLS FOR DATA INVESTIGATION
Tables
A table may be a implies of showing information or data in columns and columns. Lines
are moreover called a record or vector, columns are moreover known as parameters, areas,
or traits. The point of crossing point between a column and a push is called a cell. A table
is utilized in investigate, information examination and communication and it can be seen
in different media from signs to notes in print and in computer program and a few other
areas. Tables can be basic, considering as it were some columns and lines, or they can be
multi-dimensional comprising of requested pecking orders.
Charts
A chart, on the other hand, may be a graphical show of data wherein the data is outlined
in images such as bars, lines or cuts. It is utilized to characterize the relationship between
a huge amount of information and its parts and makes it less demanding to studied and
get it.

CHAPTER 4
DATA ANALYSIS AND INTERPRETATION

4.1. CONCEPTUAL AND OPERATIONAL DEFINITIONS OF

VARIABLES
Capital ampleness proportion
The capital ampleness ratio(CAR) is an estimation of a NBFC's open capital

communicated as a level of a NBFC's danger weighted credit exposures. The capital
ampleness extent, something else called subsidizing to-hazard weighted assets extent
(CRAR), is utilized to guarantee supporters and progress the quality and capability of
money related systems around the globe. Two sorts of capital are assessed: level 1
capital, which can absorb mishaps without a NBFC being required to halt trading, and
level 2 capital, which can hold mishaps in case of a bending up hence gives a lesser
level of confirmation to speculators..
CAR= (Tier-I + Tier-II + Tier-III)/Total Hazard Weighted Resources.
Debt-equity proportion
This extent appears the level of impact. It illustrates the sum of the trade is Financed
through commitment and how much through esteem. Typically decided as the degree of
supreme asset commitment to add up to resources 'outside risk' consolidates total
borrowings, stores and distinctive liabilities. 'Total assets' joins hold and overflow
esteem capital. Higher the extent appears less security for the supporters and loan
specialists within the NBFC system.
D/E Proportion = Add up to Exterior Liabilities/ Net Worth -value
Total advance to total assets ratio
Typically the proportion of the entire progresses to add up to resources. This extent
illustrates organizations forcefulness in crediting which inevitably brings almost way
better efficiency. Higher extent of progresses of stores (assets) is preferred to a lower
one. All out propels moreover consolidate receivables. The estimation of total assets is
excepting the disturbed of the impressive number of benefits. Add up to ADV / Add up
to ASS Proportion = Add up to Propels/ Add up to Resources

Total investment to total assets ratio
This extent gages the degree of all out assets of the organization that are secured up
theories which doesn't shape a bit of the center compensation of the NBFC, as against
giving propels to the clients. A intense NBFC would have a moo wander to resource
proportion as a tall extent implies that the NBFC has generally kept a tall front of
hypothesis to secure against the peril of NonPerforming Resources. This
antagonistically impacts the good thing about the NBFCs since the premium pay
delivered through theories is considerably less than premium pay earned through
conceding moves.
Total INV / Totoal ASS Proportion = Add up to Speculation / Add up to Resources.
Total expenditure to total income ratio
Each NBFC affiliation is eager approximately controlling its utilize because it may be a
principal viewpoint to make strides the benefits for the NBFC. It is backed that in case
there ought to emerge an event of NBFCs, keeping a adjacent observe on utilization
would engage it to make strides its entry to its esteem speculators. A noteworthy piece
of working taken a toll of NBFCs comprises of compensations to agents, inventive up
degrees and department legitimization, especially the unused age NBFCs. In show
disdain toward of the truth that these costs result into higher Add up to Use toAdd up to
Wage Proportion, in long pull they offer assistance the NBFC in overhauling its entry to
esteem financial specialists. It is idealize for NBFCs to have a lower extent because it
will make strides the benefits of the NBFC and in this way overhaul comes back to the
accomplices. The extent gives monetary pros an absent from of how successfully the
NBFC is being run – the lower it is, the more profitable the NBFC will be. Changes
within the extent can moreover include noteworthy issues. On the off chance that the
extent climbs beginning with one period at that point onto the next, it infers that costs
are extending at the next rate than pay.
Tot EXP / Tot INC Proportion = Add up to Consumption / (Net Intrigued Income +
Noninterest Wage)

Assets turnover ratio
Resource Turnover measures how rapidly a NBFC turns over its resource through its
pay, both intrigued earnings as well as non-interest pay. It measures the capacity of a
NBFC to utilize its assets to productively create pay. The higher the proportion
demonstrates that the NBFC is utilizing all its resources proficiently to produce income.
ATR = Add up to Salary/ Total Assets.
Diversification ratio
This extent gages the capacity of the NBFC to make compensation other than interest
pay from standard NBFCs works out. An gigantic degree of NBFCs compensation is
created through its crediting works out, besides by and by NBFCs have furthermore
started making strides its pay by turning to works out other than standard NBFCs works
out that are called as charge based works out (for case charges and commission, trading
picks up, forex works out and so on.). Nowadays cost based compensation speaks to a
critical section of a NBFC's other pay. A NBFC makes higher charge compensation by
acclimatizing advancement for creating creative things for upheld help levels. Since cost
based pay isn't any ways distinguished with NBFC's capital adequacy in this way the
plausibility to make noninterest compensation is huge. A tall extent appears growing
degree of cost based salary. The extent is moreover adamant by picks up on government
protections, which varies depending upon advance expense advancement within the
economy. The clarification of this extent is subordinate upon a few talk. Barely any
experts see a tall number as a better than average pointer, since it appears that the NBFC
isn't subordinate fair on its advancing works out to form wage. Barely any Analysts take
the contrary see and express that a tall appears that the NBFC is subject to unstable
charge based incomes that are not obvious for its benefit.
DIVRSF Proportion= (Add up to Pay - Intrigued Salary) / Add up to Wage.
Profit per employee
This can be a critical parameter to evaluate the capability of the NBFCs the officials as
this extent evaluates the organization's benefits agreeing to number of specialists. The
extent appears the overflow earned per agent. It decides the typical advantage created

per person utilized. An upstanding organization will move and fortify laborer to win
more advantage for the NBFC. A tall extentclearly suggests profitable organization.
PPE= Benefits After assess/ Number of Representatives.
Business per employee
Trade per worker extent appears the productivity of specialists of the NBFC and is
utilized as an instrument to gage the efficiency of the impressive number of specialists
of a NBFC in making trade for the NBFC. It illustrates how much trade each agent is
conveying for the NBFC. Trade is as distant as add up to of Add up to Deposits and Add
up to Progresses in a particular year of the NBFC. A tall trade for each laborer extent
infers that agents are making palatable bargains or pay for the NBFC which is an absent
from of capable and sound organization of the NBFC, whereas a moo extent is
habitually an sign of moo effectiveness. A tall extent is valuable for the NBFC as it
normally implies beneficial NBFC the officials.
BPE= Add up to Wage / Number of Representatives.
Net profit margin
Net benefit edge is an vital measure to degree the profit quality in NBFCs. Expanding
benefits is the leading marker that the NBFC can pay profits due to which the share cost
will drift upward. Stakeholders see at net profit margin completely since it signifies the
quality of the NBFC that's reflected in its capacity in changing over income into benefits
available for shareholders. It is clarified as rate of income that's leftover after all
working costs, intrigued, taxes and favored stock profits other than common stock profit
is deducted from the entire pay of the NBFC. A tall Net Benefit Edge clearly implies
that the NBFC has steady and relentless profit.
NPR = Net benefit After Charges / Total Income.
Return on equity
The entry on esteem (ROE), something else called rate of productivity (ROI), could be a
sound extent of return, since it is the result of the working execution, commitment
esteem the board and asset turnover of the NBFC. ROE gages how much the financial
specialists earned for their intrigued within the NBFC. This extent appears how

advantageous a NBFC is by differentiating its in general pick up with its typical

investors' value. On the off chance that a NBFC can amass stores at a lower rate and
progress these to clients to create more critical yields than the cost of stores, it can make
extra incomes that amass to speculators as extended esteem. The higher the extent rate,
the more effective the NBFC is in pay and utilizing its esteem base to make way better
return is to money related masters.
ROE = Net Pay / Normal Shareholders Value
Interest expended to interest earned ratio
This extent gauges intrigued pay as a level of intrigued pay. It gages the capacity of the
NBFC to meet the interest utilize on stores from the interest pay from advances. It
furthermore appears the able organization of stores and progresses of the NBFC. Within
the occasion that the extent isbeneath 1, the NBFC is creating sufficient eagerness from
progresses to meet its advantage commitments of stores which suggests sound liquidity
of the NBFC.
Int exp/ int earn proportion = Intrigued Consumption / Intrigued Pay.
4.2. TECHNIQUES OF ANALYSIS
To assess the generally execution of chosen NBFCs through CAMEL Approach.
For analyzing comparative examination of the chosen NBFCs between Bajaj Fund and
Muthoot Fund, CAMEL Show has been utilized and from that point factual measures have
been utilized. The CAMEL show comprises of five components specifically, Capital
Ampleness, Resource Quality, Administration, Profit Quality and Liquidity. Inside these
components there are a few parameters. These parameters are communicated in terms of
monetary proportions inferred from the Adjust Sheet and Benefit and Misfortune Account
of a NBFC.
Capital adequacy
Capital ampleness reflects the by and large budgetary conditions of a NBFC additionally
the capacity of the administration to meet the require for extra capital. The parameters
beneath this component are.

• Capital ampleness proportion
• Debt value proportion
• Total propels to add up to resources proportion
Asset quality
The prime proverb behind measuring resource quality is to discover the component of
non-performing resources as a rate of the full resources. In expansion, the component
moreover finds out the
• Total speculation to add up to resources.
• Total cost
Management effectiveness
It includes a subjective examination for measuring the productivity of the administration.

To degree the proficiency of the administration, the parameters utilized were Add up to
Progresses to Add up to Stores.
• Business per representative
• Profit per worker
• Asset turnover proportion
• Diversification proportion
Earning quality
This component picks up significance within the light of the contentions that much of the
NBFCs wage is earned through on-core exercises, treasury operations, and corporate
counseling administrations and so on. The parameters were-
• Net benefit proportion.
• Return on value.
• Interest wage to add up to pay.

Liquidity
It alludes to the chance stemming from the need of attractiveness of an venture that cannot
be bought or sold rapidly sufficient to anticipate or minimize a misfortune. The parameters
were-
• Liquid resource to add up to resource proportion
• Interest cost to intrigued pay.
After the examination of each parameters of CAMEL strategy for each monetary year,
cruel was calculated out of the parameters found and they were to be clubbed based on
each parameters like capital ampleness, resource quality, administration productivity,
profit quality and liquidity.
Table 4.2.1
Table showing Capital Adequacy Ratio of Bajaj Finance, Muthoot

Finance, Cholamandalam Finance, Motilal Oswal and Kotak Mahindra
Limited.
Bajaj Muthoot Cholamandala m Motilal

Year Finance Finance finance Oswal Kotal Mahindra
2022 0.2761 0.2907 0.1958 0.2006 0.2302
2021 0.2696 0.2631 0.1963 0.2455 0.2228
2020 0.2687 0.2618 0.1901 0.2705 0.2058
2019 0.1968 0.2651 0.1863 0.2903 0.1908
2018 0.1968 0.2598 0.1845 0.2739 0.1804
Mean 0.2416 0.2681 0.1906 0.25616 0.206
S.D 0.040996158 0.012780258 0.005373081 0.034951509 0.020942302
C.V 0.169686086 0.047669743 0.028190352 0.136444056 0.101661659
(Source:-computed from secondary data)

CAPITAL ADEQUACY RATIO

Bajaj Finance Muthoot Finance
CHOLAMANDALA M FINANCE Motilal Oswal
Kotal Mahindra
1.4
1.2
1
0.8
0.6
0.4
0.2
0
2022 2021 2020 2019 2018
Analysis
Table 4.2.1 shows the Capital Adequacy Ratio of Bajaj Finance, Muthoot Finance,
Cholamandalam Finance, Motilal Oswal and Kotak Mahindra Limited during the period
under study i.e., 2018 to 2022. The table shows that there is a mixed trend in Capital
Adequacy Ratio for Non-Banking Financial Corporations during the study. The table
reveals that the companies satisfied the minimum CAR of 6.5% as prescribed by the RBI
during the study period. The mean of Bajaj Finance, Muthoot Finance, Cholamandalam
Finance, Motilal Oswal and Kotak Mahindra Limited is 24.16, 26.81, 19.06, 25.62 and
20.6 respectively, which is a healthy sign of maintaining capital adequacy for the
company. The coefficient of variation is 169.686, 47.669, 28.81, 136.444, 101.166
respectively. On comparing Bajaj Finance, Muthoot Finance, Cholamandalam Finance,
Motilal Oswal and Kotak Mahindra Limited.on the basis of CV, the performance of
Muthoot Finance is comparatively less than Cholamandalam Finance, which depicts that
the consistency of Bajaj finance is highest CV. The graph clearly shows the fluctuating
downward trend in the CAR value for the period under study.
Table 4.2.2
Table showing Debt-Equity Ratio of of Bajaj Finance, Muthoot Finance,

Cholamandalam Finance, Motilal Oswal and Kotak Mahindra Limited.

Muthoot Cholamandala m Kotal

Year Bajaj Finance Finance finance Motilal Oswal Mahindra
2022 3.78 2.91 5.88 1.08 0.45
2021 3.57 3.24 6.64 1.28 0.56
2020 4.02 3.46 6.71 1.5 0.58
2019 5.16 3.03 8.14 1.68 0.66
2018 3.42 3.04 7.48 1.84 0.71
Mean 3.99 3.136 6.97 1.476 0.592
S.D 0.691953756 0.216402403 0.86510115 0.304105245 0.099849887
C.V 0.173421994 0.069005868 0.124117812 0.206033364 0.16866535
DEBT-EQUITY RATIO
Kotal Mahindra
20
15
10
0
2022 2021 2020 2019 2018
Analysis
Table 4.2.2 Appears the Debt-Equity Proportion of Bajaj Fund, Muthoot Fund,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Constrained amid the period
beneath ponder i.e., 2018 to 2022. The table appears that there's a fluctuating drift in
Capital Ampleness Proportion for the Non-Banking Budgetary Organizations amid the
ponder. The table uncovers that the companies fulfilled the perfect Debt-equity Proportion
of 1:1.5 amid the consider period. The cruel of 3.99, 3.136, 6.97, 1.476, 0.592. Bajaj Fund,
Muthoot Fund, Cholamandalam Fund, Motilal Oswal and Kotak Mahindra Constrained
“A Think about on Monetary investigation of Bajaj Back, Muthoot Back, Cholamandalam
Back, Motilal Oswal and Kotak Mahindra Constrained, coefficient of variety 173.421,
69.058, 124.117, 206.033, 168.665. which could be a sound sign of keeping up debt-
equity for the company. The coefficient of variety is 893.90 and 309.89 individually. On

comparing both Cholamandalam Fund and Muthoot Fund on the premise of CV, which
delineates that the consistency of Bajaj Back is higher than the other Fund. The chart
clearly appears the fluctuating drift within the CAR esteem for the period beneath
consider.
Table 4.2.3
Table showing Total Advances to Total Asset Ratio of Bajaj Finance,

Muthoot Finance, Cholamandalam Finance, Motilal Oswal and Kotak
Mahindra Limited.

0.8455 0.8989 0.2898 0.5571
2022 0.6081
2021 0.6113 0.8567 0.8821 0.3202 0.5266
2020 0.5961 0.8576 0.8647 0.4034 0.5638
2019 0.6002 0.9279 0.9151 0.4654 0.6161
2018 0.5936 0.9578 0.9565 0.5283 0.6099
Mean 0.60186 0.8891 0.90346 0.40142 0.5747
S.D. 0.007619252 0.050418499 0.035100256 0.099060093 0.037733208
C.V 0.012659509 0.056707343 0.038850925 0.246774184 0.065657227
TOTAL ADVANCES TO TOTAL ASSET RATIO

Kotal Mahindra
4
3.5
3
2.5
2
1.5
1
0.5
0
2022 2021 2020 2019 2018
Analysis

Add up to propels to add up to resources of Bajaj Fund, Muthoot Back, Cholamandalam

Fund, Motilal Oswal and Kotak Mahindra Constrained amid the period beneath think
about i.e., 2018 to 2022 is appeared in table 4.3. The table appears that there's a level slant
in Add up to Progresses to Add up to Resources for both Non-Banking Budgetary
Organizations amid the think about. The table uncovers that the companies have palatable
execution amid the consider period. The cruel of Bajaj Fund, Muthoot Back,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Constrained is 60.18, 8.891,
90.35, 40.14, 54.47 respectively , which encompasses a blended execution amid the
period of consider. The coefficient of variety is 126.59, 56.707, 38.85, 246.677, 65.657
separately. On comparing both Bajaj Back, Muthoot Fund, Cholamandalam Back, Motilal
Oswal and Kotak Mahindra Restricted on the premise of CV, the execution of Motilal
Oswal Back is comparatively higher than other Fund, which portrays that the consistency
of Bajaj Finance, Muthoot Fund, Cholamandalam Back, Motilal Oswal and Kotak
Mahindra Restricted. There's a colossal contrast within the approach of keeping up the
progresses as resources. Muthoot fiancé has higher sum of progresses as resource
compared to the Cholamandalam Back. The chart is clearly shows the variety in two
company’s arrangement in support of progresses as resource and independent of
company’s arrangement, there's consistency within the level of add up to propels to add
up to resources over the period of consider.
Table 4.2.4
Table showing Total Investment to Total Asset ratio of of Bajaj Finance,

Mahindra Limited.

2022 0.0576 0.0068 0.0249 0.2768 0.3011
2021 0.1072 0.0118 0.0212 0.2778 0.3277
2020 0.1067 0.0115 0 0.3055 0.2509
2019 0.0692 0.0051 0 0.2562 0.2618
2018 0.0263 0.0053 0 0.2676 0.2693
Mean 0.0734 0.0081 0.00922 0.27678 0.28216
S.D 0.034413006 0.003308323 0.012692596 0.018259847 0.031582084
C.V 0.468842047 0.408434918 1.376637339 0.065972421 0.111929698

TOTAL INVESTMENT TO TOTAL ASSET

Kotal Mahindra
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
2022 2021 2020 2019 2018
Analysis
Table 4.2.4 appears the Full venture to Add up to resource proportion of of Bajaj Fund,
Muthoot Back, Cholamandalam Back, Motilal Oswal and Kotak Mahindra Constrained
amid the period beneath consider i.e., 2018 to 2022. The table appears that there's a
blended slant in Add up to venture to add up to resource proportion for both Non-Banking
Money related Enterprises amid the think about. The table uncovers that five companies
the execution amid the think about period. The cruel of of Bajaj Fund, Muthoot Fund,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Limited is 7.34, 00.81, 00.92,
27.67, 28.21 rate individually, which could be a solid sign of keeping up Add up to venture
to Add up to resource for the company. Indeed when the execution of the NBFCs changes
over the consider period, the normal is likely to be the same for the companies. The
coefficient of variety is 45.88, 40.88, 137.66, 6.59, 11.19 individually. On comparing both
of Bajaj Back, Muthoot Back, Cholamandalam Fund, Motilal Oswal and Kotak Mahindra
Restricted on premise of CV, the execution of cholamandlam Fund is comparatively
higher than other Fund, which delineates that the consistency of Cholamandalam Fund is
higher than the Muthoot Back. The variety among the NBFCs isn't as well higher but the
variation depicts the superior venture design of Cholamandalam Fund over the other
Fund. The chart clearly appears the blended drift within the add up to speculation to add
up to resource proportion.

Table 4.2.5
Table showing Total Expenses to Total Income Ratio of Bajaj Finance,

Mahindra Limited.

2022 0.6993 0.5579 0.7158 0.6423 0.7979
2021 0.7754 0.5565 0.7875 0.5745 0.8256
2020 0.7225 0.5611 0.8177 0.8794 0.8291
2019 0.6661 0.5711 0.7425 0.8443 0.8451
2018 0.6958 0.5661 0.7482 0.6987 0.8416
Mean 0.71182 0.56254 0.76234 0.72784 0.82786
S.D 0.040804987 0.006042185 0.040178639 0.130587855 0.018643042
C.V 0.057324868 0.010740898 0.052704356 0.179418355 0.022519558
TOTAL EXPENSES TO TOTAL INCOME

Kotal Mahindra
4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
2022 2021 2020 2019 2018
Analysis
Table 4.2.5 appears the Entire Cost to Add up to Pay Proportion of Bajaj Back, Muthoot
Fund, Cholamandalam Fund, Motilal Oswal and Kotak Mahindra Constrained amid the
period beneath ponder i.e., 2018 to 2022. The table appears that there's a blended slant in
add up to cost to add up to salary Proportion for both Non-Banking Budgetary
Organizations amid the ponder. The table uncovers that the companies have performed

comparative in their cost and salary component. The cruel of Bajaj Back, Muthoot Back,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Limited is 0.71182, 0.56254,
0.76234, 0.72784, 0.82786 separately which could be a solid sign of keeping up Add up
to Cost to Add up to Pay Proportion for the company. The normal proportion of kotak
mahinra restricted Fund is higher compared to the other Fund which uncovers the
companies higher use to the wage earned. The coefficient of variety is 5.732, 1.07, 4.01,
17.94, 2.251respectively the execution of Motilal Back is comparatively superior than
other Back, which delineates that the consistency of Motilal Back is higher than the other
Back. The chart clearly appears the upward fluctuating slant within the add up to cost to
add up to wage. NBFCs are reliable almost their cost and wage component proportion, it
clearly appears that the companies have sufficient salary to meet their costs and
proficiency to control the cost over the wage for the period beneath ponder.
Table 4.2.6
Table showing Asset Turnover Ratio of Bajaj Finance, Muthoot Finance,


2022 0.1489 0.1603 0.1242 0.2552 0.1081
2021 0.1555 0.1685 0.1293 0.2572 0.1186
2020 0.1605 0.1768 0.1361 0.2339 0.1136
2019 0.1489 0.1821 0.1237 0.2354 0.1163
2018 0.1551 0.2014 0.1261 0.2624 0.1149
Mean 0.15378 0.17782 0.12788 0.24882 0.1143
S.D 0.004936801 0.015565892 0.005093329 0.013210299 0.003930013
C.V 0.032103008 0.087537354 0.039828972 0.053091789 0.034383313

ASSET TURNOVER RATIO

Kotal Mahindra
1
0.8
0.6
0.4
0.2
0
2022 2021 2020 2019 2018
Analysis
Table 4.2.6 portrays the Resource Turnover Proportion of Bajaj Fund, Muthoot Fund,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Restricted amid the period
beneath consider i.e., 2018 to 2022. The table appears that there's a blended slant in
Resource Turnover Proportion for Non-Banking Monetary Organizations amid the think
about. The table uncovers that the companies have an conflicting execution in their
resource turnover proportion. The cruel of Bajaj Back, Muthoot Back, Cholamandalam
Back, Motilal Oswal and Kotak Mahindra Constrained is 0.15378, 0.17782, 0.12788,
0.24882, 0.1143, which may be a palatable execution of keeping up resource turnover for
the company. The coefficient of variety is 3.21, 8.75, 0.39, 0.530, 0.343 per enta
separately. On comparing Bajaj Back, Muthoot Fund, Cholamandalam Back, Motilal
Oswal and Kotak Mahindra Restricted on the premise of CV, the execution of Motilal
oswal Fund is comparatively than otherFinance, which portrays that the consistency of
motilala is higher than the other Back. Motilaloaswal Back is superior is productive
sufficient to utilize its resources to create salary, it moreover portrays the motilal Back is
speedier in changing over resources to produce wage than the other Back The chart clearly
appears the fluctuating slant within the resource turnover proportion, the chart too
delineates that both the companies have a awesome variety in terms of Resource Turnover
Proportion over the period of consider, the exhibitions are conflicting over the a long time
for the period beneath think about.

Table 4.2.7
Table showing Diversification Ratio of Bajaj Finance, Muthoot Finance,


2022 0.0284 0.0043 0.0089 0.0185 0.5714
2021 0.0066 0.0031 0.0062 0.0183 0.5776
2020 0.0067 0.0024 0.0007 0.0195 0.6646
2019 0.0056 0.0087 0.0029 0.0258 0.6511
2018 0.0838 0.0101 0.0008 0.0274 0.6475
Mean 0.02622 0.00572 0.0039 0.0219 0.62244
S.D 0.033583359 0.003462947 0.003575612 0.004351437 0.044279149
C.V 1.280829862 0.605410266 0.916823548 0.198695733 0.071138019
DIVERSIFICATION RATIO
Kotal Mahindra
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
2022 2021 2020 2019 2018
Analysis
Table 4.2.7 appears the Broadening Proportion of Bajaj Fund, Muthoot Fund,
Cholamandalam Fund, Motilal Oswal and Kotak Mahindra Restricted amid the period
beneath think about i.e., 2018 to 2022. The table appears that there's a blended drift in
Expansion Proportion for both Non-Banking Budgetary Enterprises amid the ponder. The
table uncovers that both the companies have a comparative enhancement proportion amid
the consider period. The cruel of Bajaj Fund, Muthoot Fund, Cholamandalam Back,

Motilal Oswal and Kotak Mahindra Restricted is 0.02622, 0.00572, 0.0039, 0.0219,
0.62244 which may be a sound sign of keeping up expanded sources of salary other than
the regular sources for the company. The coefficient of variety is 128.08, 60.54, 91.68,
19.86, 0.0711 individually. On comparing Bajaj Back, Muthoot Fund, Cholamandalam
Back, Motilal Oswal and Kotak Mahindra Constrained on the premise of CV, the
execution of bajajFinance is comparatively superior than other Fund, which delineates
that the consistency of bajaj Fund is higher than the otherFinance. Both the company is
able to create non-interest wage, as the intrigued rate changes from time to time, the
companies have created other sources of pay effectively for smooth working. The chart
clearly appears the blended drift within the Enhancement esteem and bajaj Back is
superior in expanding the salary for the company than the otherFinance for the period
beneath consider.
Table 4.2.8
Table showing Profit Per Employee Ratio of Bajaj Finance, Muthoot

Limited.

2022 0.1405 0.1581 0.2268 0.1311 0.1681
2021 0.1104 0.1591 0.1901 0.1497 0.1397
2020 0.1474 0.1377 0.1505 0.0301 0.1434
2019 0.1997 0.0955 0.1994 0.0483 0.1423
2018 0.2674 0.1877 0.1835 0.1246 0.1537
Mean 0.17308 0.14762 0.19006 0.09676 0.14944
S.D 0.061754733 0.034142818 0.027591176 0.053732839 0.011711874
C.V 0.356798779 0.231288563 0.145170873 0.555320785 0.07837175

PROFIT PER EMPLOYEE RATIO

Kotal Mahindra
1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
2022 2021 2020 2019 2018
Analysis
Table 4.2.8 appears the Benefit Per Representative of Bajaj Fund, Muthoot Back,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Constrained amid the period
beneath consider i.e., 2018 to 2022. The table appears that there's a blended slant in
Benefit per worker for both Non-Banking Budgetary Enterprises amid the think about.
The table uncovers that the companies have great execution in terms of PPE amid the
ponder period. The cruel of Bajaj Back, Muthoot Fund, Cholamandalam Back, Motilal
Oswal and Kotak Mahindra Constrained 0.1731, 0.14762, 0.19006, 0.09676, 0.14944,
which could be a solid sign of keeping up benefit per worker for the company. The
coefficient of variety is 35.67, 23.12, 14.51, 55.53, 7.83 percentagerespectively. On
comparing both Bajaj Back, Muthoot Fund, Cholamandalam Fund, Motilal Oswal and
Kotak Mahindra Constrained on the premise of CV, the execution of kotakmahindra is
comparatively less than otherFinance, which portrays that the consistency of bajajfinance
is higher than the other Back. The chart clearly appears the blended drift within the PPE
esteem for the period beneath think about.
Table 4.2.9
Table showing Business Per Employee Ratio of Bajaj Finance, Muthoot

Limited.


2022 0.6328 0.4799 1.0231 0.4319 0.8947
2021 0.6671 0.4819 1.0711 0.4034 0.9469
2020 0.8795 0.4221 1.0891 0.2956 0.9327
2019 0.9251 0.3488 1.0155 0.3526 0.9578
2018 1.3465 0.3329 0.9265 0.4587 0.9703
Mean 0.8902 0.41312 1.02506 0.38844 0.94048
S.D 0.285293954 0.070432961 0.063305039 0.065101482 0.029097972
C.V 0.320482985 0.17049032 0.061757399 0.167597267 0.030939491
BUSINESS PER EMPLOYEE RATIO

0.6328 Muthoot Finance
Kotal Mahindra
4.5
4
3.5
3
2.5
2
1.5
1
0.5
0
2022 2021 2020 2019 2018
Analysis
Table 4.2.9 appears the Commerce Per Representative of Bajaj Back, Muthoot Fund,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Restricted amid the period
beneath consider i.e., 2018 to 2022. The table appears that there's a blended drift in
Commerce Per Worker for both Non-NBFCing Monetary Organizations amid the
consider. The table uncovers that the companies have great trade per representative. The
cruel of Bajaj Fund, Muthoot Back, Cholamandalam Back, Motilal Oswal and Kotak
Mahindra Restricted is 0.8902, 0.41312, 1.02506, 0.38844, 0.94048, which may be a solid
sign of keeping up effective human asset within the company. As BPE delineates the
efficiency of workers within the company, cholamandalamFinance is superior in keeping
up productive human control as their representatives for way better efficiency than other
companies. The coefficient of variety is 0.3205, 0.1704, 0.06175, 0.1675, 0.0309

separately. On Bajaj Fund, Muthoot Back, Cholamandalam Fund, Motilal Oswal and
Kotak Mahindra Restricted on the premise of CV, the execution of bajaj Back is
comparatively superior than othar Back, which clearly appears that indeed when the
normal of BPE is lower than the Muthoot Finance, they are steady approximately their
representatives efficiency for making trade to company and they are able to form
sufficient deals to the company. The chart clearly appears that their clear steady execution
in bajaj Fund compared to the blended execution of other Fund. Both the companies have
beneficial human asset to meet the objectives and goals of the company.
Table 4.2.10
Table showing Net Profit Ratio of Bajaj Finance, Muthoot Finance,

Muthoot CHOLAMANDALA M Kotal

Year Bajaj Finance Finance FINANCE Motilal Oswal Mahindra
2022 0.2221 0.3308 0.2867 0.3051 0.3536
2021 0.1657 0.3311 0.2137 0.3303 0.3017
2020 0.1995 0.3272 0.1823 0.0913 0.2571
2019 0.2161 0.2769 0.2584 0.1178 0.2378
2018 0.1989 0.2746 0.2521 0.2265 0.2446
Mean 0.20046 0.30812 0.23864 0.2142 0.27896
S.D 0.02193463 0.029600625 0.040858267 0.107576345 0.048582023
C.V 0.109421481 0.096068496 0.171212987 0.502223833 0.174154085
NET PROFIT MARGIN

Kotal Mahindra
1.6
1.4
1.2
1
0.8
0.6
0.4
0.2
0
2022 2021 2020 2019 2018

Analysis
Net Benefit Proportion of Bajaj Fund, Muthoot Fund, Cholamandalam Back, Motilal
Oswal and Kotak Mahindra Restricted amid the period beneath ponder i.e., 20118 to
2022are appeared in table. The table appears that there's a blended drift in NET benefit
Proportion for both Non-Banking Budgetary Enterprises amid the ponder. The table
uncovers thatthe companies have great execution when it comes to benefit making. The
cruel of Bajaj Back, Muthoot Fund, Cholamandalam Back, Motilal Oswal and Kotak
Mahindra Restricted is 0.2002, 0.308, 0.23864, 0.1181 and 0.1897, which may be a sound
sign of keeping up benefits for the company. all the companies are making sufficient
benefits for smooth and productive working of the company. As NPR is the vital criteria
to degree Company’s quality, both have execution great over the period of think about.
The coefficient of variety separately. On comparing both Bajaj Fund, Muthoot Back,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Restricted on the premise of
consistency, the execution of motilal Back is comparatively less than othr Fund, which
portrays that the consistency of bajajFinance is higher than the other Fund. The chart
clearly appears the blended drift within the NPR for the period beneath consider. Both the
companies have effective approach for benefit gaining.
Table 4.2.11
Table showing Return on Equity of Bajaj Finance, Muthoot Finance,

Muthoot Cholamandalam Kotal

Year Bajaj Finance Finance Finance Motilal Oswal Mahindra
2022 0.1607 0.2138 0.1829 0.2308 0.1251
2021 0.1197 0.2442 0.1584 0.2801 0.1184
2020 0.1628 0.2652 0.1285 0.0594 0.1289
2019 0.2028 0.2092 0.1929 0.0962 0.1246
2018 0.1616 0.2329 0.1793 0.2156 0.1228
Mean 0.16152 0.23306 0.1684 0.17642 0.12396
S.D 0.029390764 0.022898428 0.025599414 0.094035536 0.003820079
C.V 0.18196362 0.098251214 0.152015523 0.533020836 0.030817026

RETURN ON EQUITY
Bajaj Finance Muthoot Finance Cholamandalam Finance
Motilal Oswal Kotal Mahindra
1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
2022 2021 2020 2019 2018
Analysis
Table 4.2.11 appears the Return on Value of Bajaj Fund, Muthoot Fund, Cholamandalam
Fund, Motilal Oswal and Kotak Mahindra Constrained amid the period beneath think
about i.e., 2018 to 2022. The table appears that there's a downward slant within the Return
on Value for all Non-Banking Money related Organizations amid the think about. The
table uncovers that both the companies have normal execution relating to return on value
amid the ponder period. The cruel of Bajaj Fund, Muthoot Fund, Cholamandalam Fund,
Motilal Oswal and Kotak Mahindra Constrained is 0.16152, 0.23306, 0.1684, 0.17642,
0.12396, which could be a solid sign of keeping up return on value for the company and
the shareholders of the company. muthootFinance has higher normal rate of return on
value than the othsr Fund. The coefficient of variety is 18.19, 9.82, 15.20,53.32, 3.08
individually. Bajaj Back, Muthoot Back, Cholamandalam Fund, Motilal Oswal and Kotak
Mahindra Constrained are steady in sharing the return on value to the shareholders which
is positive sign of company’s productivity. The execution of Muthoot Fund other Fund is
comparable on the lines of return on value; both have been steady over the period of think
about in terms of operating execution and resource turnover. The chart clearly appears the
fluctuating descending slant within the ROE esteem for the period beneath consider.

Table 4.2.12
Table showing Interest Income to Total Income Ratio of Bajaj Finance,

Mahindra Limited.

2022 0.1489 0.1603 0.1242 0.2552 0.1081
2021 0.1555 0.1685 0.1293 0.2572 0.1186
2020 0.1605 0.1768 0.1361 0.2339 0.1136
2019 0.1489 0.1821 0.1237 0.2354 0.1163
2018 0.1551 0.2014 0.1261 0.2624 0.1149
Mean 0.15378 0.17782 0.12788 0.24882 0.1143
S.D 0.004936801 0.015565892 0.005093329 0.013210299 0.003930013
C.V 0.032103008 0.087537354 0.039828972 0.053091789 0.034383313
INTEREST INCOME TO TOTAL INCOME

Kotal Mahindra
1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
2022 2021 2020 2019 2018
Analysis
The Intrigued Pay to Add up to Wage Proportion of Bajaj Fund, Muthoot Back,
Cholamandalam Fund, Motilal Oswal and Kotak Mahindra Constrained amid the period
beneath think about i.e., 2018 to 2022 is appeared in table. The table appears that there's

a level drift in Intrigued Salary to Salary Proportion for both Non-Banking Budgetary
Enterprises amid the think about. The table uncovers that both the companies have reliable
execution amid the think about period. The cruel of Bajaj Back, Muthoot Back,
Cholamandalam Fund, Motilal Oswal and Kotak Mahindra Restricted is 0.15, 0.17, 0.12,
0.24, 0.11 which could be a solid sign of company’s capacity to create the intrigued salary
from the propels of the company. The coefficient of variety is 0.321, 0.0875, 0.0398,
0.0530, 0.034respectively. On comparing both Bajaj Fund, Muthoot Fund,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Constrained on the premise
of CV, the execution features a incredible variety. all the companies have been steady in
their execution but the variety between them is as well higher. The chart clearly appears
a level drift within the Interest Salary to Pay Proportion for the period beneath think about.
It can moreover be taken note that there's a gigantic distinction within the execution of
kotakmahindra Fund and other Fund
Table 4.2.13
Table showing Liquid Asset to Total Asset Ratio of Bajaj Finance,

Mahindra Limited.
Muthoot CHOLAMANDALA M Kotal
Year Bajaj Finance Finance FINANCE Motilal Oswal Mahindra
2022 0.6081 0.8455 0.8989 0.2898 0.5571
2021 0.6113 0.8567 0.8821 0.3202 0.5266

2020 0.5961 0.8576 0.8647 0.4034 0.5638
2019 0.6002 0.9279 0.9151 0.4654 0.6161
2018 0.5936 0.9578 0.9565 0.5283 0.6099
Mean 0.60186 0.8891 0.90346 0.40142 0.5747
S.D 0.007619252 0.050418499 0.035100256 0.099060093 0.037733208
C.V 0.012659509 0.056707343 0.038850925 0.246774184 0.065657227

LIQUID ASSETS TO TOTAL ASSETS

Kotal Mahindra
4
0
2022 2021 2020 2019 2018
Analysis
The Fluid Resource to Add up to Resource Proportion of Bajaj Fund, Muthoot Back,
Cholamandalam Fund, Motilal Oswal and Kotak Mahindra Constrained amid the period
beneath think about i.e., 2018 to 2022 is appeared in table. The table appears that there's
a blended drift in Fluid Resource to Add up to Resource Proportion forall Non-Banking
Budgetary Enterprises amid the ponder. The table uncovers that both the companies have
fluctuating execution amid the ponder period. The cruel of Bajaj Fund, Muthoot Fund,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Constrained is0.60, 0.88,
0.90, 0.41, 0.57 which could be a solid sign of by and large liquidity position of the
company’s capacity to change over resources to fluid cash. The coefficient of variety is
0.0126, 0.0556, 0.038, 0.246, 0.0665 separately. On comparing Bajaj Back, Muthoot
Back, Cholamandalam Fund, Motilal Oswal and Kotak Mahindra Constrained on the
premise of CV, the execution has been in comparable over the period of ponder. all the
companies have been inconsistent in their execution but the variety between them isn't as
well higher. The chart clearly appears a blended slant within the Liquid Asset to Add up
to Asset Ratio for the period beneath think about. It can too be taken note that there's
negligible contrast within the execution of bajaj Fund and other Fund over the period of
consider.

Table 4.2.14
Table showing Interest Expense to Interest Income Ratio of Bajaj

Finance, Muthoot Finance, Cholamandalam Finance, Motilal Oswal
and Kotak Mahindra Limited.
Muthoot Cholamandalam Kotal

Year Bajaj Finance Finance Finance Motilal Oswal Mahindra
2022 0.2761 0.2907 0.1958 0.2006 0.2302
2021 0.2696 0.2631 0.1963 0.2455 0.2228
2020 0.2687 0.2618 0.1901 0.2705 0.2058
2019 0.1968 0.2651 0.1863 0.2903 0.1908
2018 0.1968 0.2598 0.1845 0.2739 0.1804
Mean 0.2416 0.2681 0.1906 0.25616 0.206
S.D 0.040996158 0.012780258 0.005373081 0.034951509 0.020942302
C.V 0.169686086 0.047669743 0.028190352 0.136444056 0.101661659
INTEREST EXPENDED TO INTEREST

EARNED RATIO
Bajaj Finance Muthoot Finance Cholamandalam Finance
Motilal Oswal Kotal Mahindra
1.4
1.2
1
0.8
0.6
0.4
0.2
0
2022 2021 2020 2019 2018
Analysis
The Intrigued cost to Intrigued Wage Proportion of of Bajaj Back, Muthoot Back,
Cholamandalam Fund, Motilal Oswal and Kotak Mahindra Restricted amid the period
beneath consider i.e., 2018 to 2022 is appeared in table. The table appears that there's a
blended slant in Intrigued Salary to Wage Proportion for all Non-Banking Money related
Enterprises amid the ponder. The table uncovers that allthe companies have steady

execution amid the think about period. The cruel of of Bajaj Fund, Muthoot Back,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Constrained 0.24, 0.26, 0.19,
0.25, 0.206which may be a solid sign of company’s capacity to create the intrigued wage
from the progresses of the company. The coefficient of variety is 169.68, 147.56, 281.56,
136.44, 101.66respectively. On comparing both Bajaj Fund, Muthoot Back,
Cholamandalam Back, Motilal Oswal and Kotak Mahindra Restricted on the premise of
CV, the execution doesn’t have a incredible variety. All the companies have been
consistent in their execution and the variety between them isn't as well higher. The chart
clearly appears a blended formed slant within the Interest cost to Intrigued Income for the
period beneath ponder. It can moreover be taken note that there's no tremendous contrast
within the execution of Cholamandalam Back and Muthoot Back.

CHAPTER 5
SUMMARY OF FINDING, CONCLUSION AND

RECOMMENDATION

5.1. SUMMARY OF FINDING
• The execution of Cholamandalam Fund is comparatively higher than other Fund, which
delineates that the consistency of Cholamandalam Back is higher than the Muthoot Back
and other fund companies. There's a huge distinction within the policy of keeping up the
propels as resources. There's a distinction in Add up to Propels to Add up to Resources
between Cholamandalam Back and other Fund.
• There is palatable execution of maintaining asset turnover by all the company. The
fluctuating slant within the resource turnover proportion, the chart too portrays that all the
companies have a extraordinary variety in terms of ATR. The exhibitions are conflicting
over the a long time for the period under study. There's a contrast in ATR between Fund
companies.
• There may be a solid sign of keeping up differentiated sources of salary other than the
regular sources for the company. The consistency of Kotak Mahindra bank is higher than
the other Back. All the company is able to create non-interest income, as the intrigued rate
variances from time to time. The companies have produced other sources of pay
proficiently for smooth working consequently there's a few distinction in Enhancement
Proportion between fund companies.
• All the companies have relating to return on value amid the ponder period. All Fund
companies are reliable in sharing the return on value to the shareholders which is positive
sign of company’s productivity. The execution of all Back is similar on the lines of return
on value; all have been steady over the period of ponder in terms of working execution
and resource turnover.
• There may be a sound sign of company’s capacity to generate the intrigued pay from the
propels of the company. All the companies have been reliable in their performance and
the variety between them isn't as well higher. An upward chime formed slant within the
Intrigued cost to Intrigued Wage for the period beneath think about It can too be taken
note that there's no colossal distinction within the execution of companies.
5.2. SUGGESTIONS & RECOMMENDATIONS
• Cholamandalam Fund must increment the capital ampleness proportion in arrange to

dodge future instabilities and for the smooth working of the company.

• Cholamandalam Back has to diminish the obligation value proportion because it is less
assurance for the banks. It wii advantage for the cholamandalam fund.
• Cholamandalam Back is comparatively is less forceful in loaning than Muthoot Finance

and in arrange to meet the competition of the showcase, Cholamandalam Back ought to
lend more to its clients.
• Bajaj Back, Muthoot Back, Cholamandalam Fund, Motilal Oswal and Kotak Mahindra
Restricted got to contribute more in arrange to utilize the reserves successfully and to
protect against the risk of Non-Performing Resources.
• Kotak Mahindra constrained has to more proficiently utilize the resources of the
company in arrange to produce wage.
• Motilal oswal Back has to broaden the source of wage to generate and in arrange to
support within the showcase for longer period.
• Muthoot Fund must increment their benefit per worker in arrange to defend the intrigued
of the representatives and superior efficiency.
• Cholamandalam Back ought to utilize more proficient employeeswho can produce way
better trade to the company,which will too increment the benefit of the company.
• Muthoot fund ought to increment their return on value to pick up the assurance of the
financial specialists.
5.3. CONCLUSION
In an endeavor to assess the comparative examination of five driving Non-Banking

monetary organizations i.e., Bajaj Fund, Muthoot Back, Cholamandalam Back, Motilal
Oswal and Kotak Mahindra Constrained, the display think about has utilized camel
approach parameters of ponder. Execution of each NBFC has been analyzed in points of
interest in terms capital ampleness, resource quality, administration proficiency, earnings
quality and liquidity. Within the show consider we have inspected the execution of the
chosen NBFCs for the period 2017-18 to 2021-22. Cruel, standard deviation and
coefficient of variety are the strategies utilized to analyze the execution of Bajaj Fund,

Muthoot Fund, Cholamandalam Back, Motilal Oswal and Kotak Mahindra Restricted. It
is been watched from the ponder that bajaj fund performs well as compared to other Back
and it uncovers that there's a extraordinary advancement in all the NBFCs amid the period
of consider. Most of the components of camel approach was utilized to analyze the
generally alalysis of the companies. It implies that the generally execution of all the
NBFCs: this possibly since of selection of modern innovation, managing an account
changes, and recuperation instrument. Motilal oswal Fund should move forward in terms
of most the components of camel approach.

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A COMPARATIVE ANALYSIS OF SELECTED NBFCS IN INDIA

MASTER OF BUSINESS ADMINISTRATION

Name: RAKESH KUMAR PRASAD

Reg. No.: P03HB21M0205

Under the guidance of

Designation of Guide: Assistant Professor

NSB ACADEMY, BANGALORE

MASTER OF BUSINESS ADMINISTRATION

Name: RAKESH KUMAR PRASAD

Reg. No.: P03HB21M0205

Under the guidance of

Designation of Guide: Assistant Professor

NSB ACADEMY, BANGALORE

I am Mr. Rakesh Kumar Prasad hereby declare that “A COMPARATIVE STUDY ON

Signature of the Student: Rakesh Kumar Prasad

Place: Bangalore Name: Rakesh Kumar Prasad

Date: Register Number: P03HB21M0205

This is to certify that the Internship Project titled “A COMPARATIVE STUDY ON

SIGNATURE OF GUIDE SIGNATURE OF DIRECTOR

Prof. Divya Mathur Dr.Srinidhi K. Parthasarthi

I sincerely express my profound gratitude to HOD/Director/Chairman___ Name___

I convey my sincere gratitude to Prof Divya Mathur Assistant Professor (Designation) of

Signature of the Student:

Place: Bangalore Name: Rakesh Kumar Prasad

Date: Register Number: P03HB21M0205

CHAPTER PARTICULARS PAGE

03 Research Design and Methodology

04 Table/Chart Analysis and Interpretations

05 Summary of Findings, Conclusions and

Graphs/ Figure No. Description Page No.

4.2.1 Capital Adequacy Ratio 43-44

4.2.2 Debt-Equity Ratio 44-45

4.2.3 Total Advances to Total Asset Ratio 46-47

4.2.4 Total Investment to Total Asset ratio 47-48

4.2.5 Total Expenses to Total Income Ratio 49-50

4.2.9 Business Per Employee Ratio 54-55

4.2.12 Interest Income to Total Income Ratio 59-60

4.2.13 Liquid Asset to Total Asset Ratio 60-61

List of Data Sources

SI. No Sources Page No.

1 Company Annual Report

This consider is based on the comparative examination of Bajaj Fund Constrained,

NSB ACADEMY, BANGALORE 1|Page

INTRODUCTION AND INDUSTRY

NSB ACADEMY, BANGALORE 2|Page

1.2. Meaning of NBFC

(i) a money related institution which could be a company;

NSB ACADEMY, BANGALORE 3|Page

‘‘financial institution’’ implies any non-NBFC institution which carries on as its

(ii) the procurement of offers, stock, bonds, debentures or securities issued by a

(iii) letting or conveying of any merchandise to a hirer beneath a hire-purchase assention

(iv) the carrying on of any lesson of protections trade;

(v) overseeing, conducting or administering, as foreman, specialist or in any other

NSB ACADEMY, BANGALORE 4|Page

1.2.1. List of top 50 NBFC companies

1. Housing Development Finance Corporation Limited (HDFC)

NSB ACADEMY, BANGALORE 5|Page

19. Max Financial Services Limited

NSB ACADEMY, BANGALORE 6|Page

I sincerely express my profound gratitude to HOD/Director/Chairman_ Name_