RSD Finance Ltd Company Summary

RSD Finance Ltd Summary

RSD Finance Ltd was incorporated in February 04, 1963. The company is engaged in the business of Non - Banking Financing Activities.During the FY 2016, the company tried to maximize its return by utilization of its fund. It entered into new sectors of business through its wholly owned subsidiary Company, Precision Automotive Private Limited. The Company also entered into hospitality business by acquiring 52.55% Equity shares of SRP Oil Private Limited, which is running a four-star category hotel in Jamshedpur.During the year 2016, Precision Automotive Private Limited (PAPL), a wholly owned subsidiary of RSD Finance Limited entered into a new line of business. It has set up a solar plant in Newai, Rajasthan.During the year 2016, the company acquired Equity shares in its subsidiary, SRP Oil Private Limited. Consequently, the shareholding of the Company in SRP increased to 52.55%.The Equity Shares of the Company got the trading approval from the Bombay Stock Exchange (BSE) on May 13, 2016. The shares of the Company continue to be listed on the CSE Limited (CSE). Pursuant to the Reg. 109 - SEBI (ICDR) Regulation - 2009 (amendment) and SEBI (Listing Obligations and Disclosure Requirements) Regulations - 2015, which were notified on September 2, 2015 with the objective of bringing the framework governing the regime of listed entities in line with Companies Act, 2013, a new Listing Agreement was executed with CSE Limited on 26 February 2016. The companys wholly owned subsidiary, Precision Automotive Pvt Ltd, had sold one of its operational plants during the year 2017. However, the key factor driving the Company financial performance during the financial year was a successful commencement of heat treatment operations by SIGMA HTS LLP, a step down subsidiary of the Company.During the year 2018, the equity shares of the Company continue to be listed on the Bombay Stock Exchange (BSE) and the Calcutta Stock Exchange Limited (CSE). Further, the shares of the Company were first traded on the Bombay Stock Exchange on September 3, 2017.During the financial year 2018-19, the Company closed the manufacturing business of its subsidiary, Precision Automotive Private Limited (PAPL).