WHAT WE ARE
KanakadurgaFinance Limited (“Kankadurga” or “KFL” or “The Company”) is Vijayawada based reputed Non-Banking Finance Company (NBFC) incorporated in the year 1994. The company is promoted by Shri S. Lakshmi Narayana and his wife Smt. S. RatnaKumari. The company is engaged in the activity of providing vehicleloans and gold loans. The registered office is located at # 40-7-31, Jammichettu Centre, Mogalrajpuram, Vijayawada.
The financing activity was originally started in the year 1980 under proprietary and partnership firms, which were ably conducted by the promoters. Later, in the year 1994, all the financing businesses under the individual and partnership firms were merged and converted into a private limited company. Further, the company was converted into a closely held public limited company in 1996. In May 2015 the company name is changed as Kanakadurga Finance Ltd from its earlier name of Kanakadurga Leasing and Finance Ltd (KLFL). Initially, KLFL was registered as a deposit accepting asset financing company with Reserve Bank of India in the year 1998, which later relinquished the deposit accepting status to become a non-deposit taking company.
The company is currently having presence in 17 districts of the twin states of Andhra Pradesh and Telangana. The operations are conducted through 31 branches - 21 branches for auto financing and 10 branches for gold loans. The current customer base is about 18000 (8000 for vehicle loans and 10000 for gold loans).
The shareholding pattern of the company as on 31-03-2015 is as below –
|S. No.||Category||% of Holding|
|1||S Lakshmi Narayana||18.74%|
|3||S. Jaya Prakash Narayana Chowdary||24.31%|
|5||Kanakadurga Financial Services Limited||20.97%|