CreditAccess Grameen Ltd

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CreditAccess Grameen Ltd

₹ 1,267 -1.35%
22 Jul - close price
creditaccessgrameen.in BSE: 541770 NSE: CREDITACC
About

CreditAccess Grameen Limited is registered as a non-deposit accepting NBFC - Microfinance Institution with the RBI. It is engaged in providing microfinance services to women who are enrolled as members and organized as Joint Liability Groups. It also uses its distribution channel to provide certain other financial products and services to the members. [1]

Key Points

Market Leader
The company is India’s largest NBFC Microfinance Institution with a total gross loan portfolio of Rs. ~26,700 Cr in FY24 vs Rs. ~16,500 Cr in FY22. [1] [2] It holds a 6% market share in the overall microfinance industry. [3]

Website BSE NSE
  • Market Cap ₹ 20,197 Cr.
  • Current Price ₹ 1,267
  • High / Low ₹ 1,796 / 1,190
  • Stock P/E 13.5
  • Book Value ₹ 412
  • Dividend Yield 0.79 %
  • ROCE 14.8 %
  • ROE 24.8 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 35.0% CAGR over last 5 years
  • Company's median sales growth is 31.6% of last 10 years

Cons

  • Stock is trading at 3.07 times its book value
  • Promoter holding has decreased over last 3 years: -7.41%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024
Revenue 510 510 576 694 621 812 908 1,065 1,170 1,247 1,292 1,457 1,512
Interest 196 183 192 217 226 273 314 346 385 424 442 482 510
268 224 206 267 209 299 293 311 309 342 365 434 453
Financing Profit 46 103 177 210 186 240 301 409 477 481 486 542 549
Financing Margin % 9% 20% 31% 30% 30% 30% 33% 38% 41% 39% 38% 37% 36%
1 0 1 0 0 2 2 1 1 1 3 2 1
Depreciation 6 6 6 7 7 13 13 12 12 12 13 14 14
Profit before tax 41 97 172 203 179 229 290 398 465 469 476 529 535
Tax % 27% 26% 25% 25% 26% 24% 26% 25% 26% 26% 26% 25% 26%
30 72 129 151 133 175 216 297 346 349 353 397 398
EPS in Rs 1.90 4.62 8.29 9.71 8.50 11.22 13.82 18.98 22.16 21.95 22.20 24.91 24.95
Gross NPA % 8.12% 7.18% 5.50% 3.12% 1.73% 1.48% 1.21% 0.89% 0.77% 0.97% 1.18% 1.46%
Net NPA % 0.47% 0.35% 0.27% 0.24% 0.29% 0.35% 0.45%
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Revenue 88 146 278 464 708 871 1,282 1,683 2,028 2,669 3,487 5,119 5,509
Interest 42 72 129 208 317 354 417 575 745 987 1,216 1,738 1,858
39 50 76 126 264 184 361 639 1,069 1,235 1,179 1,444 1,595
Financing Profit 7 24 74 130 128 332 504 470 214 447 1,092 1,937 2,056
Financing Margin % 7% 16% 26% 28% 18% 38% 39% 28% 11% 17% 31% 38% 37%
2 2 3 2 1 1 1 1 3 81 64 54 6
Depreciation 1 1 2 3 4 5 8 20 23 47 50 51 53
Profit before tax 8 25 75 130 124 328 498 451 194 481 1,105 1,939 2,009
Tax % -5% 33% 35% 36% 35% 35% 35% 27% 27% 27% 25% 25%
8 17 49 83 80 212 322 328 142 353 826 1,446 1,497
EPS in Rs 2.00 3.14 6.68 11.41 9.37 16.54 22.41 22.75 9.15 22.65 52.87 90.72 94.01
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 11%
Compounded Sales Growth
10 Years: 43%
5 Years: 32%
3 Years: 36%
TTM: 39%
Compounded Profit Growth
10 Years: 56%
5 Years: 35%
3 Years: 117%
TTM: 45%
Stock Price CAGR
10 Years: %
5 Years: 19%
3 Years: 22%
1 Year: -4%
Return on Equity
10 Years: 16%
5 Years: 15%
3 Years: 18%
Last Year: 25%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 40 53 73 73 86 128 144 144 156 156 159 159
Reserves 71 154 303 387 605 1,309 2,222 2,525 3,479 4,011 4,948 6,411
389 805 1,291 2,233 2,668 3,623 4,867 7,823 8,781 12,921 16,312 21,841
44 46 60 115 205 53 126 170 281 394 439 435
Total Liabilities 543 1,058 1,727 2,808 3,564 5,114 7,357 10,662 12,697 17,482 21,858 28,846
3 3 4 11 12 16 25 87 101 629 599 609
CWIP 0 0 2 0 3 1 2 3 1 3 4 5
Investments 0 0 0 0 0 0 0 661 663 1 455 1,439
540 1,055 1,720 2,796 3,549 5,096 7,330 9,911 11,932 16,849 20,801 26,794
Total Assets 543 1,058 1,727 2,808 3,564 5,114 7,357 10,662 12,697 17,482 21,858 28,846

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-931 -425 -1,726 -1,378 -2,302 -364 -2,713 -3,290 -4,734
-4 -5 54 -7 -636 -32 -33 -314 -994
934 579 1,470 1,829 2,929 1,706 1,967 3,365 5,494
Net Cash Flow -1 149 -202 444 -9 1,310 -780 -239 -234

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 10% 10% 17% 20% 14% 20% 17% 13% 5% 9% 18% 25%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
73.91% 73.89% 73.85% 73.82% 73.74% 73.71% 73.68% 66.77% 66.69% 66.66% 66.58% 66.56%
9.29% 8.84% 8.24% 8.67% 9.33% 9.60% 9.67% 9.55% 11.46% 12.00% 11.65% 10.88%
10.28% 10.04% 10.94% 10.75% 12.68% 12.53% 12.27% 11.90% 15.78% 15.79% 15.76% 16.25%
6.52% 7.23% 6.97% 6.76% 4.25% 4.16% 4.38% 11.77% 6.08% 5.57% 6.01% 6.31%
No. of Shareholders 40,03339,55934,56834,14239,64540,89141,97940,62251,17257,98969,82483,603

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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