/ -- Capsave Finance Pvt Ltd, a non-banking finance company (NBFC) providing leasing and financing solutions, posted 130 percent revenue and profit growth for fiscal year 2018-19 in its second year of operations.
"Capsave's success was achieved despite an environment where the liquidity crisis is crippling similar Indian companies and affecting sectors with a higher dependence on NBFC funding," said Jinesh Jain, Capsave chief executive officer, of the India-based company. "To be sure, while this crisis of confidence has paralyzed most small to mid-sized NBFCs, Capsave has swum against the tide to achieve revenue and net profit growth as well as 55 percent growth in cumulative assets funded between 2018 and 2019."
"Given the severe near term/midterm funding challenges within the financial services space, our investors Bravia Capital continue to back us to meet our liquidity needs based on our track record of growth and our customer demand," Jain said. "We are confident we will continue to outperform industry peers whilst maintaining asset quality."
Bharat Bhise, CEO of Bravia Capital, said: "Our confidence in Capsave's unique business model has never been stronger with its low leverage of less than 1 times debt-to-equity, which is much lower than its peers. That too at a time when the NBFC industry in India is plagued with widespread asset liability mismatches and non-performing assets. Capsave is leading by example with zero nonperforming assets on its books."