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Stock Report
CreditAccess Grameen Ltd posts Rs. 76.87 crore consolidated PAT in Q4FY21
Posted On : 2021-05-06 18:44:20( TIMEZONE : IST )
CreditAccess Grameen Ltd has reported financial results for the period ended March 31, 2021.
Financial Results (Q4 FY20-21) - QoQ Comparison
The company has reported total income of Rs.726.20 crores during the period ended March 31, 2021 as compared to Rs.543.03 crores during the period ended December 31, 2020.
The company has posted net profit / (loss) of Rs.76.87 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.(77.29) crores for the period ended December 31, 2020.
The company has reported EPS of Rs.3.59 for the period ended March 31, 2021 as compared to Rs.(5.12) for the period ended December 31, 2020.
| Financials | Q4 FY20-21 | Q3 FY20-21 | % Change |
| Total Income | ₹ 726.20 crs | ₹ 543.03 crs |  33.73% |
| Net Profit | ₹ 76.87 crs | ₹ (77.29) crs | 199.46% |
| EPS | ₹ 3.59 | ₹ (5.12) | 170.12% |
Financial Results (Q4 FY20-21) - YoY Comparison
The company has reported total income of Rs.726.20 crores during the period ended March 31, 2021 as compared to Rs.482.12 crores during the period ended March 31, 2020.
The company has posted net profit / (loss) of Rs.76.87 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.28.84 crores for the period ended March 31, 2020.
The company has reported EPS of Rs.3.59 for the period ended March 31, 2021 as compared to Rs.1.99 for the period ended March 31, 2020.
| Financials | Q4 FY20-21 | Q4 FY19-20 | % Change |
| Total Income | ₹ 726.20 crs | ₹ 482.12 crs | 50.63% |
| Net Profit | ₹ 76.87 crs | ₹ 28.84 crs | 166.54% |
| EPS | ₹ 3.59 | ₹ 1.99 | 80.4% |
Financial Results (Year ended FY 20-21) - YoY Comparison
The company has reported total income of Rs.2466.07 crores during the 12 months period ended March 31, 2021 as compared to Rs.1705.48 crores during the 12 months period ended March 31, 2020.
The company has posted net profit / (loss) of Rs.134.02 crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.333.55 crores for the 12 months period ended March 31, 2020.
The company has reported EPS of Rs.8.90 for the 12 months period ended March 31, 2021 as compared to Rs.23 for the 12 months period ended March 31, 2020.
| Financials | Year Ended FY20-21 | Year Ended FY19-20 | % Change |
| Total Income | ₹ 2466.07 crs | ₹ 1705.48 crs | 44.6% |
| Net Profit | ₹ 134.02 crs | ₹ 333.55 crs |  -59.82% |
| EPS | ₹ 8.90 | ₹23 | -61.3% |
Commenting on the performance, Mr. Udaya Kumar Hebbar, Managing Director and CEO of CreditAccess Grameen, said, "We recorded 15% YoY and 11% QoQ growth in standalone loan portfolio to INR 11,341 crore with an active borrower base to 28.7 lakh. On consolidated basis including MMFL, loan portfolio grew by 13% YoY and 10% QoQ to INR 13,587 crore with an active borrower base of 39.1 lakh. Our disbursements grew by 42% YoY to INR 4,143 crore at CAGL and 41% YoY to INR 583 crore at MMFL. The new disbursements made during FY21 are displaying stable asset quality which forms 69% of loan portfolio on consolidated basis. Our resilient business model and strong customer connect helped us to increase collection efficiency from 91% in Dec-20 to 94% in Mar-21. Overall collections (including arrears) reached 97% in Mar-21. Even in case of MMFL, collection efficiency improved from 86% in Dec-20 to 90% in Mar-21, and overall collections (including arrears) reached 91% in Mar-21. We continue to maintain solid liquidity position with INR 2,484.4 Cr cash and cash equivalents amounting to 16.5% of total assets as on 31st March 2021.
While we ended FY21 on a very strong footing with robust business growth and significant improvement in asset quality, the sudden spread of second wave of COVID-19 pandemic has again created a challenging operating environment. We are anticipating the collections to witness a temporary decline in Q1 FY22 on account of several intermittent lockdowns/restrictions being imposed across various states. As a precautionary measure, we have already taken accelerated write-offs and built additional COVID provisioning buffer in FY21. Our focus in these testing times will be on safeguarding the health of our employees and customers. We shall closely evaluate the business impact of the on-going disruptions and use our experience of FY21 to stabilise our business. We will evaluate and support our borrowers using various measures announced by RBI on 5th May 2021. Our strong balance sheet, adequate liquidity and capital position, stable credit rating, and strong relationship with our lenders should enable us to receive continued funding access over coming months. Further our demonstrated capability of managing asset quality stress, witnessed multiple times in the past, backed by our resilient business model coupled with highly experienced stable management team, should give comfort and confidence to our lenders, investors and various stakeholders."
Shares of CreditAccess Grameen Ltd was last trading in BSE at Rs.608 as compared to the previous close of Rs. 600.7. The total number of shares traded during the day was 7420 in over 721 trades.
The stock hit an intraday high of Rs. 622 and intraday low of 601. The net turnover during the day was Rs. 4561244.
