Poonawalla Fincorp Limited - Key Highlights of Q4FY23

The Board of Directors of Poonawalla Fincorp Limited, a non-deposit taking systemically important NBFC, focusing on consumer and MSME finance, today announced its audited financial results for the quarter and the year ended March 31, 2023.

Key Highlights - Q4FY23 (Standalone):

Assets:

- Highest ever quarterly Disbursements at ₹ 6,371 crore, up 151% YoY and 89% QoQ.
- Assets Under Management (AUM) at ₹ 16,143 crore, up 37% YoY and 16% QoQ.
- Direct Digital Program (DDP) contribution in disbursements increased to 81% in Q4FY23 as compared to 66% in Q3FY23 and to 24% in Q4FY22.

Asset Quality:

- Gross NPA at 1.44%, reduced 185 bps YoY and 25 bps QoQ.
- Net NPA at 0.78%, reduced 52 bps YoY and 11 bps QoQ.

Profitability:

- Highest ever PAT at ₹ 181 crore for Q4FY23, up 103% YoY and 20% QoQ. For FY23, PAT stood at ₹ 585 crore, up 100% YoY.

- Highest ever Return on Assets (RoA) for Q4FY23 at 5%, up 178 bps YoY and 53 bps QoQ. For FY23, RoA stood at 4.4%, up 172 bps YoY.

- Net Interest Margin (NIM) for Q4FY23 was at 11.3%, an improvement of 87 bps YoY and 59 bps QoQ. For FY23, NIM was at 10.7%, an improvement of 89 bps YoY.

- Operating expenses for Q4FY23 stood at ₹ 196 crore, down 4% QoQ.

- Operating Profit (PPOP) for Q4FY23 was at ₹ 212 crore, up 84% YoY and 36% QoQ.

Dividend: The Board has recommended a dividend of ₹ 2 per share (100% of face value) for FY23, subject to shareholders' approval.

Capital Adequacy and Liquidity:

- Capital Adequacy Ratio stood at 39% as of March 31, 2023.

- Liquidity buffer stood at ₹ 3,001 crore as of March 31, 2023.

Rating Upgrade: CRISIL upgraded the long-term credit rating to AAA.

Commenting on Poonawalla Fincorp's performance, CA Abhay Bhutada, Managing Director, said "FY23 has been a year of exemplary performance across business growth, credit quality and profitability. Our strong fundamentals and execution are reflected in our credit rating upgrade to AAA by both CRISIL and CARE. We have led the way in building a real Fintech model at scale, with asset quality which is best-in-class, along with superior profitability. Our ability to innovate, understand future trends, deliver at pace, and build a strong digital eco-system, has made us a lender of choice. With an efficient cost of borrowing, lower operating cost, controlled credit cost and a branch-lite tech-led model, we are well poised to deliver a sustainable and exceptional performance."

Shares of Magma Fincorp Limited was last trading in BSE at Rs. 316.45 as compared to the previous close of Rs. 315.00. The total number of shares traded during the day was 113046 in over 2523 trades.

The stock hit an intraday high of Rs. 319.80 and intraday low of 315.00. The net turnover during the day was Rs. 35843506.00.

Source : Equity Bulls

Keywords

PoonawallaFincorp INE511C01022 KeyHighlights Q4FY23 FY2023