On 15th September (Wednesday), Hawkins Cookers Ltd has opened pre-registration for its Fixed Deposit. The Fixed Deposit (FD) scheme is offered in 3 tenors – 12 months, 24 months & 36 months. The Hawkins Cooker Ltd company is offering interest rates of 7.5%, 7.75% & 8% respectively on 3 tenors. For the payment of interest, the company is offering 2 options and these are half-yearly & cumulative.
For the payment of interest, the company is offering 2 options and these are half-yearly & cumulative. In half-yearly payment, you receive an interest twice a year on the other hand, in the cumulative option; you receive interest at the end of the tenor. The cumulative option, allows the interest portion to compound monthly & hence your returns increase to 8.3%.
The existing FD holders can renew their FDs. They must register for renewal online at least 10 days before the maturity of the FD. The Hawkins Cooker FD is rated AA Stable by the ICAR & is a long-standing product in the market.
It was offering interest rates up to 10.5% in the year 2019. This dropped to 9% in 2020 & has now hit 8%, mirroring the overall decline of interest rate in India. However, the rate offered is at a substantial premium to the bank interest rates of 5-6%.
In September 2019, the company had FDs worth Rs 22 Crores on its books & was allowed to raise Rs 6.76 Crore from its shareholders & 16.90 Crore from the general public.
On 29th July, the figure for existing FDs had gone up to 34 Crores leaving company room to raise 28.17 Crores from its shareholders & general public. The profit of the company after the tax has also gone up sharply over the past few years, from Rs 54.22 Crores in FY 19 to Rs 90.64 Crores in FY 21, despite the Covid-19 pandemic.
According to the data from Value Research, It has a market cap of Rs 3,316 Crores as of the 15th of September.
Steps for Pre-Registration
-
The process for the pre-registration is fully online. Interested persons will need to authenticate their mobile numbers through a one-time password.
-
A screen will appear on which they have to enter the details such as name, address, PAN number & the amount of FD being applied for.
-
The company will then allot the pre-registration number if there is a sufficient amount available, which has not already been allotted.
-
In case of an insufficient limit available, then the company will allow the applicant a waiting list number.
-
The official link of Fixed Deposit Application via:https://www.hawkinscookers.com/Fixed_Deposit_Scheme_Menu_2021.aspx
