Satin Creditcare Network Limited registers 37.8% YoY growth in Gross Loan Portfolio to Rs. 6191.4 crore for H1 FY19
Deepthi | Myequity news | Date : 14-11-2018 17:00:00 IST
Satin Creditcare Network Limited, one of the leading microfinance companies in the country, today reported its financial results for the six months ended Sep 30, 2018. For H1FY19, on a consolidated basis, the company recorded a 37.8% YoY growth in Gross AUM to Rs. 6191.4 cr. The company recorded a PBT of Rs. 72.0 cr for Q2FY19 and a PAT of Rs. 46.1 cr on consolidated basis.
Speaking about company's performance during the quarter, Mr. H P Singh, Chairman and Managing Director, Satin Creditcare Network Limited said, "The Company has sustainable liquidity where we have already raised 80% of the fund requirement for FY19 till date with further sanctions in pipeline. We are maintaining a strong asset liability maturity (ALM) to keep the strategic growth plans on track. We have been building a strong loan book through our Business Correspondence partnership with IndusInd Bank, which accounts for 4% of our total portfolio. At the same time, we are also diversifying into verticals such as MSME and housing finance.”
Speaking about fresh funding into the company, Mr. Singh added, “We raised total funding of Rs. 1,021 cr during Q2FY19 and have a strong Capital Adequacy Ratio. We are confident about maintaining a healthy capital to risk asset ratio (CRAR) throughout the year, even after achieving the desired growth. Additionally, we also plan to limit our exposure to each state at not more than 20% of our total asset under management by 2020. This will help us limit our geographical risk, while keeping an eye on growth.”
He further added “The company has shown excellent operational metrics with ROA 2.7% and ROE 18.8% during Q2FY19”.
The collection efficiency of loans disbursed since Jan’18 was at 99.5%, comprising 67% of the portfolio. Satin Creditcare Network Limited has been focusing on technology investment to enable cashless disbursements and digital documentation at its branches. As a result, 96% branches now make cashless disbursements. About Satin Creditcare Network Limited:
Satin Creditcare Network Limited (SCNL or “Satin”) was conceptualized and founded in 1990 by Mr. H P Singh - a qualified Chartered Accountant with over three decades of experience in retail finance industry. In around 28 years since its inception, Satin today is India’s leading MFI having started its journey with individual micro loans to urban shopkeepers.