SG Finserve Ltd announces record Q1FY2024 loans and advances

SG Finserve Limited (SGFL) has announced today its Loan Book for the Quarter ending June 30, 2023. The company has registered Outstanding Loans and Advances of approximately INR 1,246 Crores closing Q1- FY2024 as compared to the INR 975 Crores in Q4-FY2023, i.e. growth of 28% quarter-on-quarter basis.

SGFL has shown tremandous growth from last financial year by engaging itself in the business of supply chain finance. SGFL is on its way to become Indian Conglomerates' most preferred partner for providing supply chain financing solutions.

Record Q1-FY2024 Loan Book

Achieved Loans and Advances of approximately INR 1,246 Crores in Q1-FY2024 vis-a-vis INR 975 Crores in Q4-FY2023, i.e. growth of 28% quarter-on-quarter basis.

- Added Net Loan Book of approximately INR 271 Crores during Q1-FY2024;
- Added 293 new unique Borrowers in Q1-FY2024;
- Cumulatively, the Company raised INR 125 Crores during Q1-FY2024 from new lenders- RBL Bank Ltd. and The Federal Bank Ltd.;
- Liquidity surplus stood at approximately INR 75 crore. The Company continues to remain well capitalized with a Capital Adequacy Ratio (CAR) of approximately 48% in Q1-FY2024.

Shares of SG Finserve Ltd was last trading in BSE at Rs. 586.00 as compared to the previous close of Rs. 584.35. The total number of shares traded during the day was 68075 in over 299 trades.

The stock hit an intraday high of Rs. 599.00 and intraday low of 581.00. The net turnover during the day was Rs. 40108377.00.

Source : Equity Bulls

Keywords

SGFinserve INE618R01015 LoanBook Q1FY24 Loans Advances