Results Earnings Call for Q1FY23 of CreditAccess Grameen
Conference Call with CreditAccess Grameen Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.01-08-2022
01-08-2022
CreditAccess Grameen Ltd - 541770 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Newspaper Publication of Q1 FY23 Financial Results30-07-2022
CreditAccess Grameen Ltd - 541770 - Announcement under Regulation 30 (LODR)-Investor Presentation
Investors Presentation for Q1 of FY23.30-07-2022
CreditAccess Grameen Ltd - 541770 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Q1 of FY23 Financial Results Press Release29-07-2022
CreditAccess Grameen Ltd - 541770 - Board Meeting Outcome for Financial Results
Financial Results for the quarter ended June 30, 202229-07-2022
Q1FY23 Quarterly Result Announced for CreditAccess Grameen Ltd.
Finance company CreditAccess Grameen announced Q1FY23 results: Consolidated: Total income increased by 23.2% YoY from Rs 617.4 crore to Rs 760.5 crore Net interest income (NII) increased by 30.9% YoY from Rs 352.7 crore to Rs 461.5 crore Pre-provision operating profit (PPOP) increased by 33.9% YoY from Rs 216.4 crore to Rs 289.7 crore Impairment of financial instruments declined by 46.3% YoY from Rs 187.9 crore to Rs 100.9 crore Total ECL provisions were Rs 443.7 crore (3.01%) against GNPA (largely @ 60+ dpd) of 3.11%, and PAR 90+ of 2.33% Write-offs were Rs 191.1 crore Profit After Tax (PAT) increased by 588.2% YoY from Rs 20.3 crore to Rs 139.6 crore Liquidity remained strong at Rs 1,541.8 crore of cash & cash equivalents at the end of Jun-22, amounting to 9.3% of the total assets Healthy capital position with standalone CRAR of 28.6% and consolidated CRAR of 24.7% Credit Rating upgraded to AA- (Stable) by India Ratings & Research, the highest notch in the microfinance industry. Commenting on the performance, Mr. Udaya Kumar Hebbar, MD and CEO of CreditAccess Grameen, said, “Our primary focus during Q1 FY23 was on maintaining strong collections trend and ensuring complete alignment with the new microfinance underwriting guidelines announced by the RBI in Mar-22. This involved formulation of necessary board-approved policies, implementation of the required process and technology changes, and extensive training for our large field force. The process transition led to lower disbursements and borrower additions during Apr-22 and May-22. Further, there were limited loan renewals during Q1 FY23 majorly due to minimal disbursements in Q1 FY21 and Q1 FY22 owing to the Covid-19 pandemic. The disbursements and borrower additions got normalised in Jun-22 and we expect to see strong momentum in the coming quarters. We reiterate our annual growth and profitability guidance for FY23. We continued to march ahead with our infrastructure expansion plans as our branch network increased to 1,681 on the back of 46 net branch additions during the quarter primarily in newer states. Our diversification strategy is showing positive results with 56% of the borrower additions during Q1 FY23 coming from outside of the top 3 states. We are happy to announce that we have recently received a credit rating upgrade to 'AA- / Stable', the highest notch in the microfinance industry. We currently charge one of the lowest interest rates to our customers and the future benefits accruing from the rating upgrade shall be gradually passed on to them. We have also been conferred the highest level of recognition, the 'Gold Standard’ in Client Protection Principle (CPP) Certification. It is a global framework that determines the degree of client protection practices followed across the loan cycle, in our pursuit of creating capital at the bottom of the pyramid.” Result PDF29-07-2022
CreditAccess Grameen Ltd - 541770 - Outcome Of The Board Meeting
Outcome of the Board Meeting held on July 29, 202229-07-2022
CreditAccess Grameen Ltd - 541770 - Update On The Scheme Of Amalgamation
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the National Company Law Tribunal, Chennai Bench, where the petition for the approval of Scheme of Amalgamation is filed by Madura Micro Finance Limited, the Transferor Company, has issued an Order fixing the next date of hearing as September 08, 2022, for consideration of approval of the Scheme of Amalgamation with CreditAccess Grameen Limited, the Transferee Company.28-07-2022
CreditAccess Grameen Ltd - 541770 - Disclosure of Voting results of AGM (Regulation 44(3) of SEBI (LODR) Regulations, 2015)
CreditAccess Grameen Ltd has informed BSE regarding the details of Voting results of AGM, under Regulation 44(3) of SEBI (LODR) Regulations, 2015. Kindly Click here26-07-2022
CreditAccess Grameen Ltd - 541770 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
CREDITACCESS GRAMEEN LIMITED has informed the Exchange about Schedule of Analysts/Institutional Investor Meet/Con. Call .26-07-2022