On Friday the share price of NBFC small cap closed 1.7 percent up Rs 243.70 from its previous close of Rs 239.55. The post-market company has announced its allotment of Non-convertible debenture (NCD) worth Rs 35 crores.
Satin Creditcare Network Limited’s, Working Committee has allotted 3,500 (Non-convertible debentures) NCDs with a face value of INR 1,000,000/- each, totaling INR 35 Crores on Friday post-market session.
The company has reported its net revenue increased by 49.4 percent year on year from Rs 359.68 crores in Q2FY23 to Rs 537.61 crores in Q2FY24. On a sequential basis, their revenue increased 16.2 percent from Rs 462.34 crore in Q1FY24 to current levels.
In addition, the company’s net profit rose by 86.6 percent year on year, from Rs 57.2 crores in Q2FY23 to Rs 106.78 crores in Q2FY24. On a quarter-on-quarter basis, their revenue rose 21 percent from Rs 87.87 crore in Q1FY24 to current levels.
The company’s promoters hold a 40 percent stake in the company, with 7 percent owned by foreign institutional investors,49 percent owned by the general public, and 4 percent owned by domestic institutional investors.
Satin Creditcare Network Limited is a small-cap company with a market capitalization of Rs 2,420 crores. The share price of Satin Creditcare Network Limited has increased by 45 percent in the last six months and 88 percent in the last year.
The company has less price to earnings ratio of 6.88 compared to its peer companies and maintains high earnings per share of Rs 39.
Satin Creditcare Network Limited is a Reserve Bank of India-licensed non-banking finance company (NBFC). Mr. H P Singh established it in 1990. The company provides financial requirements for excluded households at the bottom of the pyramid.
Written by Sriram KV
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