Shares of this NBFC stock under the ‘mid-cap’ category jumped approximately 7 percent in Wednesday’s trading session after the company announced financial results for Q4FY24, i.e., for the financial quarter ended March 2024. In the past year, the company’s stock has gained nearly 45 percent for its stakeholders.
With a market capitalization of Rs 22,818.80 crores, the stocks of CreditAccess Grameen Limited started their trading session on Wednesday at Rs 1,476 and currently trades at Rs 1427. The company’s scrip witnessed an intra-day high price of Rs 1,521.40, indicating a jump of around 7 percent compared to the previous closing level of Rs 1,423.80 apiece.
Such sharp movements in the share price were witnessed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for Q4FY24, viz, for the financial quarter ended March 2024.
On a sequential basis, the company’s basic business parameters, viz, its operating revenues as well as after-tax profits, witnessed a jump in numbers with the former increasing from Rs 1,292 crores during Q3FY24 to Rs 1,457 crores during Q4FY24, and the latter, shifting marginally from Rs 353 crores to Rs 397 crores.
Comparing Q4FY23 v/s Q4FY24, the metrics mentioned above showed a stellar performance with the operating revenues jumping from Rs 1,065 crores to Rs 1,457 crores representing an increase of around 37 percent, and the net profits, keeping the timeframe the same, shifting up from Rs 297 crores to Rs 397 crores.
In addition, the company’s ratio analysis portrays the return ratios, i.e., the return on equity (RoE) as well as the return on capital employed (RoCE), being reported at decent numbers during FY23 with the former reported at 16.17 percent and the latter at 44.89 percent.
According to the latest presentations, the company’s tenure-wise liability mix portrays nearly 74 percent contributed by ‘Long-Term’ (more than 2 years) borrowings, 21 percent from ‘Medium-Term’ (1-2 years) borrowings, and the remaining share from the ‘Short-Term’ (less than 1 year) borrowings.
CreditAccess Grameen Limited is an India-based company engaged in the business of providing financial and non-financial products & services. The company’s financial product includes family welfare loans, home improvement loans, emergency loans, Grameen Swarna loans, life insurance, and others.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
