CGCL zooms 8% on healthy AUM growth in Q4; profit surges in double digits

The recent uptick in the stock came after the NBFC reported a profit after tax (PAT) of Rs 82.6 crore for the Q4FY24

Capri Global Capital, a non banking financial corporation (NBFC) saw its shares rising up to 8.1 per cent at Rs 240 a piece on the BSE in Friday’s intraday deals. The stock price of the NBFC surged after the company reported a strong quarter four earnings of the financial year 2023-24 (Q4FY24).

The stock of the company had reached a 52-week high of Rs 289.40 on March 5, 17, 2024, while it hit a 52-week low of Rs 165.25 on May 19, 2023. The stock has zoomed by over 20 per cent year to date, while it has moved up by more than 37 per cent in the last one year. 

 

However, the recent rally in the stock came after the NBFC reported a profit after tax (PAT) of Rs 82.6 crore for the Q4FY24, a oF growth 27 per cent on year on year basis (YoY) and 22 per cent quarter on quarter (QoQ). 

The consolidated asset under management (AUM) including colending AUM increased 52 per cent YoY and 17 per cent QoQ to touch Rs15,653 crores. Retail growth momentum during the quarter was driven by gold, up 46 per cent QoQ and housing up 17 per cent QoQ. 

Co-lending AUM stood at Rs1,830 crore comprising 12 per cent of consolidated AUM compared to 9 per cent in Q3FY24 and 5 per cent in Q4FY23, the NBFC said in an exchange filing on Thursday. 

Founder and MD, Rajesh Sharma said that as NBFC has continuously guided through FY24, the turnaround in its profitability is now evident with the gold loan business nearly at break-even level. This has been achieved while maintaining a strong focus on asset quality, especially the coverage ratio, he said. 

“As we move ahead with the same vigour, we expect faster improvements to continue in our profitability. We thus remain committed to deliver 15 per cent RoE over medium term,” he added. 

At 11:15 AM; the stock of the company was trading 5.45 per cent higher at Rs 234.15 per share on the BSE. By comparison, the S&P BSE Sensex was up 0.36 per cent at 72,654 levels. The stock of the company is presently trading at a price to earnings multiple of 31.90 times.  

Capri Global Capital is a NBFC, the company provides construction finance, home, gold, and housing loans, as well as offers financial services for micro, small, and medium businesses.