UGRO Capital Limited - Key Updates for Q4FY24

UGRO Capital Limited has announced the following updates for the Quarter ended March 2024:

- CRISIL Ratings Limited has upgraded our long-term rating to CRISIL A/ Stable from CRISIL A-/Positive.

- Our overall AUM as on Q4'FY24 stood at ~INR 9,000+ Cr compared to INR 8,364 Cr in Q3'FY24 (~+8%) and INR 6,081 Cr in Q4'FY23 (~+48%).

- Our Quarterly Gross loan origination for Q4'FY24 was ~INR 2,850 Cr compared to INR 2,810 Cr in Q3'FY24 and INR 2,314 Cr in Q4'FY23. Our Quarterly Net loan origination for Q4'FY24 was ~INR 1,555 Cr compared to INR 1,552 Cr in Q3'FY24 and INR 1,459 Cr in Q4'FY23.

- Our liability profile continues to remain diversified, our total liabilities (excluding Direct Assignment) stood at INR ~4,600+ Cr as of March 2024. Raised INR 250 Cr through non-convertible debentures (NCD) from the prestigious Asian Development Bank (ADB) in January 2024 and INR 200 Cr through Public NCDs in February 2024. Borrowings from Banks and NBFCs constitute 46% and 8% of our liability mix, respectively, while the rest are from DFIs (22%), Capital markets (16%), and FIIs (8%).

- Achieved off-book AUM of 46% as of March 2024, up from 40% in March 2023. On track to achieve stated business target of 50% Off Book AUM proportion.

The information provided in the quarterly update is reviewed by the management team and is yet to be subject to review by the auditors.

Shares of Ugro Capital Ltd was last trading in BSE at Rs. 264.40 as compared to the previous close of Rs. 256.85. The total number of shares traded during the day was 38104 in over 1184 trades.

The stock hit an intraday high of Rs. 270.95 and intraday low of 248.05. The net turnover during the day was Rs. 10011332.00.

Source : Equity Bulls

Keywords

UgroCapital INE583D01011 KeyUpdates Q4FY24