The shares of a leading NBFC firm gained 5% to ₹447.90 per share a day after the company managing director sold the stake.
At 10:56 a.m., Poonawalla Fincorp Ltd shares were trading at ₹444 per share on the National Stock Exchange, up 4.10 percent from the previous close price.The company has a market capitalization of ₹34,394 crores.
According to NSE deals data, Abhay Sureshkumar Bhutada,the Managing Director (MD) of Poonawalla Fincorp Limited (PFL), sold 76 lakh shares (0.98%) at Rs 437 apiece.
Poonawalla Fincorp Limited (erstwhile Magma Fincorp Limited) is a non-deposit taking NBFC registered with RBI. It is engaged in providing consumer and MSME financing, as well as General Insurance services.
Poonawalla Fincorp Ltd revenues increased by percent year on year, from ₹577 crore in Q4FY23 to ₹915 crore in Q4FY24, while net profit increased, from a ₹199 crore to a ₹332 crore.
Poonawalla Fincorp Ltd shares have risen by 4.8% over the past six months and by 30% over the past year.
The company’s Assets Under Management (AUM) stand at ₹25,003 crore, reflecting a 55% year-on-year growth. Its net profit margin is 11.06%. As of March 2024, the company’s Gross Non-Performing Assets (NPA) have decreased to 1.16% from 1.33% in December 2023. Additionally, the company’s Return on Equity (ROE) has improved from 7% in 2023 to 14% in 2024.
A significant portion of the company’s revenue comes from term loans (55%), followed by cash credit and working capital demand loans (22%), non-convertible debentures (NCDs) (10%), securitization (7%), and perpetual and subordinated debt (6%).
As of the March shareholding pattern, the company’s promoters hold a 62.13% stake, while Foreign Institutional Investors (FIIs) hold 7.76%, and Domestic Institutional Investors (DIIs) hold 5.81%.
Written by Omkar Chitnis
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