Share price of this small-cap NBFC stock moved up by 8.8 percent on BSE to hit an intraday high at Rs. 626.8 in the trading session of Thursday, after reporting Q4 results with a rise in net profit by 59.4 percent YoY and revenue from operations by 42 percent YoY.
With a market capitalisation of Rs. 6,459.6 crore, at 02:49 p.m., the shares of India Shelter Finance Corporation Limited were trading in the green at Rs. 603.4, up by 4.72 percent.
The fluctuations in the share prices were observed after the company announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Wednesday post-market hours.
The consolidated revenue from operations increased by 42 percent YoY from Rs. 584.53 crore in FY22-23 to Rs. 829.62 crore in FY23-24 and grew by 12.4 percent QoQ from Rs. 208.9 crore in Q3 FY23-24 to Rs. 234.8 crore in Q4 FY23-24.
Indian Shelter witnessed a rise in the net profit by 59.4 percent YoY from Rs. 155.34 crore in FY22-23 to Rs. 247.6 crore in FY23-24, while on a quarter-on-quarter basis, PAT increased by nearly 25.2 percent from Rs. 62.31 crore in Q3 FY23-24 to Rs. 78 crore in Q4 FY23-24.
AUM stood at Rs. 6,084 crore in FY23-24, indicating a growth of 40 percent YoY from Rs. 4,359 crore in FY22-23, while the disbursements increased by 35 percent YoY to Rs. 2,646 crore from Rs. 1,964 crore, during the same period.
The Return on assets (ROA) improved from 5.1 percent in Q4 FY22-23 to 5.4 percent in Q4 FY23-24, whereas, the company delivered RoA of 4.9 percent in FY23-24 as against 4.1 percent in FY22-23. The company continues to carry a liquidity of Rs. 1,210 crores as of Q4 FY23-24.
As of Q4 FY23-24, the company continues to deepen its presence by adding 8 new branches, while its geographic presence stood at 223 locations.
Further, the company’s Board has approved the raising of funds through the issuance of Non-Convertible Debentures through private placement or public issuances, in one or more tranches up to an amount not exceeding Rs. 1,000 crores.
The stock has delivered positive returns of nearly 7.08 percent in the last six months, while around 5.4 percent of returns, so far in 2024.
Founded in 2010, India Shelter provides affordable home loans and loans against property in Tier 2 and 3 geographies in India. It provides home loans to customers from low-and middle-income segments who are building or buying their first homes.
Written by Shivani Singh
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