### **Overview** Mangalam Industrial Finance Limited (MIFL) is a registered Non-Banking Financial Company (NBFC) incorporated in 1983 and classified by the Reserve Bank of India (RBI) as a **Non-Systemically Important Non-Deposit Taking NBFC (NSI-ND-NBFC)** under the **Investment and Credit Company (ICC)** category. The company operates without accepting public deposits and is based in Kolkata and Gujarat. MIFL focuses on technology-driven lending and investment services, with a strategic emphasis on digital transformation, customer-centric solutions, and green mobility financing. --- ### **Business Model & Strategic Focus** MIFL operates with an **integrated, relationship-driven lending approach** akin to a retail bank, emphasizing long-term client relationships, trust, and sustained customer satisfaction. Its core business segments include: - **Vehicle financing** (including electric two- and three-wheelers) - **Working capital loans** - **Personal loans** - **Housing loans** - **Consumer finance** - **Financing for capital goods and products from group companies** The company serves a **highly concentrated customer base**, with the top five customers accounting for **80.86% of total revenue in FY 2023–24**, underscoring both its niche focus and associated concentration risks. As of the latest disclosures, MIFL has **no subsidiaries**, operating as a standalone entity. --- ### **Digital Transformation & Innovation** MIFL has made significant strides in digitization to improve efficiency, customer experience, and financial inclusion: - **CloudBankin**: A proprietary **digital lending platform** launched in December 2024, enabling paperless, fast-tracked loan applications, real-time tracking, and seamless digital repayments. - Offers **personal loans, business loans, and EV financing** with minimal documentation. - Features intuitive navigation, instant eligibility checks, and secure online repayment options. - Aims to expand access to financial services across urban, semi-urban, and rural markets. The company emphasizes **responsible lending, operational efficiency**, and **robust risk management**, supported by a fully digital loan processing infrastructure. --- ### **Strategic Partnerships & Group Synergies** MIFL leverages strong synergies within its promoter group: - **MoU with Wardwizard Innovations and Mobility Limited**: To finance the purchase of *Joy E-Rik* branded electric three-wheelers (L3/L5 category) for passenger and cargo transport. - Targets entrepreneurs, small businesses, and fleet operators with **affordable interest rates and flexible tenures**. - Extends financial support to Wardwizard’s dealer network, enhancing penetration in **Tier 1, Tier 2, and rural areas**. - Plans to provide **retail financing for electronics and EVs** produced by group companies like **Garuda Mart India Private Limited** and Wardwizard. - Intends to support group entities in sectors including **hospitality, Ayurveda, frozen foods, aviation, and real estate** through targeted investments and loan products. --- ### **Sustainability & Green Mobility Initiatives** Aligned with national sustainability goals, MIFL has introduced **electric vehicle financing** as a key growth vector: - Offers loans for **electric two-wheelers and three-wheelers**, promoting green transportation. - Supports government initiatives to reduce fossil fuel dependence. - Aims to contribute to **sustainable urban mobility and rural electrification** through accessible EV credit. --- ### **Promoters & Leadership** - **Mr. Yatin Sanjay Gupte**: Founder of the Wardwizard Group (2016), Chairman & Managing Director of **Wardwizard Innovations and Mobility Limited**, which became the **first EV company listed on the BSE** in 2019. Over 16 years of experience in sales, marketing, and financial services. - **Mr. Venkata Ramana Revuru**: Promoter and director with extensive experience in financial products, loans, and strategic planning. Also holds directorships in Garuda Mart and other group entities. - **Other Promoters**: Mr. Sojan Vettukallel Avirachan, Wardwizard Solutions India Pvt Ltd, and Garuda Mart India Pvt Ltd. --- ### **Growth Strategy & Expansion Plans** MIFL is pursuing a multi-pronged growth strategy: - **Digital Lending Expansion**: Scaling up CloudBankin to serve a broader customer base and diversify product offerings. - **Product Diversification**: Expanding into home equity loans, factoring, bill payment services, and professional loans. - **Sectoral Diversification**: Investing in **marketable securities, mutual funds, real estate, and short-term lending**. - **Rural Financial Inclusion**: Targeting underserved rural populations with rising disposable incomes, supported by government welfare policies. - **Technology Investment**: Continuous enhancement of digital infrastructure to meet evolving customer behavior and regulatory requirements in fintech.