CSL Finance Ltd - Key Business Updates for H1 FY2023-24

CSL Finance Limited has announced the key business updates for half year ended 30th September 2023:

- The Company witnessed Q-o-Q growth of 18% with an Assets under management (AUM) of approximately INR 882 cr (including DA of INR 46 cr) as at Sept'23, as compared to INR 746 cr (including DA of INR 31 cr) as at Jun'23.

- New loans disbursed during the quarter were INR 282 cr (INR 157 cr in WSL and INR 125 cr in SME) as compared to INR 187 cr in Q1FY24, thus reporting a Q-o-Q growth of 51%.

- The Company has a strong Liquidity surplus with approximately INR 91 cr as at Q2FY24 (including undrawn CC limits and term loans)

- The Company raised equity through preferential issue from FII of INR 48.62 cr.

- The Company maintained a well-capitalized capital adequacy ratio (CAR) of approximately 53% in Q2FY24

- The Company has raised debt of approx. INR 174 cr in Q2FY24 from new & existing lenders (both Banks and NBFCs), namely SIDBI, Bandhan Bank, Poonawalla Fincorp, Orix Leasing, SBI, HDFC & Federal Bank

- The Company has extended its area of operations by launching its first unsecured loan product - a new line of lending into to Fabricators, their third leg customers (categorised under Suvidha loans) Loans' in collaboration with India's leading structural steel tube player - APL Apollo Group and their distributors & retailors.

The above information with reference to Sept'23 is provisional and subject to limited review by the statutory auditors of the Company.

Shares of CSL Finance Ltd was last trading in BSE at Rs. 329.40 as compared to the previous close of Rs. 327.05. The total number of shares traded during the day was 1071 in over 114 trades.

The stock hit an intraday high of Rs. 334.75 and intraday low of 326.15. The net turnover during the day was Rs. 352993.00.

Source : Equity Bulls

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CSLFinance INE718F01018 KeyBusinessUpdates September2023