HT Bureau
GUWAHATI, May 23: The Board of Directors of Capri Global Capital Ltd. (CGCL), a non-deposit-taking and systemically important NBFC (NBFC-ND-SI) on May 21 announced the audited financial results for the quarter and year ended March 31, 2022. It reported a consolidated profit after tax of Rs 18 million, up by a sharp 54% Year-over-Year (YoY) but lower by 36% over a stronger Q3 FY22 PAT of Rs 649 million. One-off elevated credit cost driven by write-offs as well as proactive provisioning caused the sequential dent in quarterly profit. However, the core earnings performance was robust with operating profit growth of 84% YoY.
The FY22 consolidated RoE was 11.3% while RoA closed at 3.3%. The company maintains its +15% RoE guidance for the medium term. Quarterly disbursals crossed Rs 10 bn for the first time to touch Rs 10406 mn, up 12% YoY. The full-year disbursal increased 2.8x to touch Rs 42.9 bn. Notably, the company commenced a co-lending arrangement with the State Bank of India and Union Bank of India in December 2021 and had a co-lending portfolio of Rs 1.2 bn as of Q4 FY22. Both CGCL and its housing finance subsidiary CGHFL are well-capitalised with an overall capital adequacy ratios of 29.5% and 49.6% respectively as of Q4 FY22. CGHFL received an equity infusion of INR1500 mn from parent CGCL on March 31, 2022.
Related Posts:
Founder & managing director Rajesh Sharma said, “At CGCL, we are happy to have sustained in a very robust manner the post-Covid19 growth momentum, which restarted from Q4 FY21. As we continue on this growth journey, we shall continue to drive the penetration of existing products even as we diversify our growth story. We are geared up to shortly launch the Gold Loan product. In FY23, we shall also look to bolster our growth capability aided by our revamped tech suite. We are confident of delivering the best balance sheet growth rates in our peer group. We are also cognizant of the rapidly changing macro environment and the tightening interest rate scenario. At CGCL, we have been through multiple interest rate cycles successfully and profitably. We shall navigate the interest rate scenario through a proactive balance sheet management.”
