CreditAccess Gramen surged 11.26% to Rs 970.45 after the company's consolidated net profit soared 104.41% to Rs 157.13 crore on 13.5% increase in total income to Rs 824.48 crore in Q4 FY22 over Q4 FY21.
On consolidated basis, net interest income (NII) increased by 12.1% YoY to Rs 519.6 crore in Q4 FY22 as against Rs 463.7 crore in Q4 FY21. Net interest margin (NIM) stood at 10.9%.Pre-provision operating profit (PPOP) increased by 12.1% YoY to Rs 368.8 crore in quarter ended 31 March 2022 as against Rs 329 crore in quarter ended 31 March 2021.
Impairment of financial instruments declined by 39.7% YoY to Rs 151 crore in the fourth quarter from Rs 250.4 crore recorded in the same period last year.
Disbursements grew by 22.5% YoY to Rs 5,792 crore in Q4 FY22 over Q4 FY21. Gross Loan Portfolio (GLP) grew by 22.2% YoY to Rs 16,599 crore.
Collection efficiency in March 2022 at CA Grameen was 96% (excl. arrears)/97% (incl. arrears). Excluding the non-paying NPA customers, collection efficiency in March 2022 was 99.5% (excl. arrears)/100% (incl. arrears).
Collection efficiency in Mar-22 at Madura Micro Finance Limited (MMFL) was 92% (excl. arrears)/94% (incl. arrears). Excluding the non-paying NPA customers, collection efficiency in March 2022 was 94% (excl. arrears)/96% (incl. arrears).
Cash & cash equivalents stood at Rs 1,761.4 crore at the end of March 2022, amounting to 10.1% of the total assets. Standalone CRAR stood at 26.5% and consolidated CRAR was 22.8%
Commenting on the performance, Udaya Kumar Hebbar, MD & CEO of CreditAccess Grameen, said: "We have successfully navigated the FY22, achieving our annual performance guidance on the back of our robust operational controls and catering to pent-up demand in rural India. The rural economy is showing strong signs of rebound coupled with an expected good monsoon providing a boost to the fortunes. Our consolidated loan portfolio grew by 22.2% YoY to INR 16,599 crore with an active borrower base of 38.2 lakh."
"Our overall collections (excluding arrears) reached 96% at the end of March 2022 while including arrears figure stood at 97% for the same period. Excluding the non-paying NPA customers, overall collections (excluding arrears) reached 99% while including arrears crossed the 100% mark at the end of FY22. At MMFL, 65% of the book has been converted to the CA Grameen model with a bouquet of products and services being offered to the clients based on our unique customer-centric model. It is showing superior asset quality, largely based on the weekly/bi-weekly model."
"We opened 211 new branches during the FY22 of which over 91% came outside of the top 3 states, in line with our diversification efforts. Our overall branch network stood at 1,635."
"Q4 FY22 was a watershed moment in the Indian microfinance industry with awaited new microfinance guidelines announced by the central bank creating a level playing field and expanding the market scope through an upward revision in the household income. CA Grameen, being the industry leader is at the forefront to capture the massive opportunity with its deep rural focus, competitive interest rates, one of the highest customer retention, and strong governance standards."
CreditAccess Grameen is a microfinance institution focused on providing micro-loans to women customers predominantly in rural areas across India
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