Poonawalla Fincorp Limited - Q1FY23 Business Update

Disbursements: Disbursements during Q1FY23 surpassed Q4FY22 disbursements as Company witnessed significant business momentum during the quarter. Disbursements for Q1FY23 were at approximately ₹ 3,430 crores, which is up 98% YoY. FY22 disbursements stood at approximately ₹ 9,494 crores.

Assets Under Management (AUM): AUM was at approximately ₹ 17,690 crore as of 30th June 2022, implying growth of 23% YoY and 7% QoQ. The AUM for the subsidiary, Poonawalla Housing Finance Limited, stood at approximately ₹ 5,285 crore.

Asset quality: The Company expects the Net Stage 3 (NS3) below 1.10% and Gross Stage 3 (GS3) below 2.50% as on 30th June 2022. This is in line with the management vision 2025 to bring down Net Stage 3 below 1%.

Liquidity: The Company continues to have ample liquidity of approximately ₹ 4,500 crores as on 30th June 2022.

Recognition: Poonawalla Fincorp has been recognized as one of the Most Preferred Workplaces 2022-23 by Team Marksmen, in association with India Today.

Management Commentary: Q1 is generally a muted quarter, however the Company continued the trend of significant improvement in its organic disbursements across all products in Q1FY23. Organic disbursements were more than ₹ 1,000 Crores in month of June taking the annualized run rate to more than ₹ 12,000 Crores. We expect the growth momentum to continue in the coming quarters supported by change in the product mix and the increased contribution from the distribution pillars of Direct, Digital and Partnerships (DDP). The share of DDP disbursements doubled to ~35% in Q1FY23 up from 17.5% in Q4FY22. The Company continued to make progress on technology and people initiatives.

The above information is provisional and subject to audit by the statutory auditors of the Company.

Shares of Poonawalla Fincorp Limited was last trading in BSE at Rs. 229.60 as compared to the previous close of Rs. 230.75. The total number of shares traded during the day was 157785 in over 2739 trades.

The stock hit an intraday high of Rs. 237.05 and intraday low of 228.35. The net turnover during the day was Rs. 36481579.00.

Source : Equity Bulls

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PoonawallaFincorp INE511C01022 Q1FY23 BusinessUpdate