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

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

Consolidated Figures in Rs. Crores / View Standalone

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 616 617 687 822 760 812 908 1,065 1,170 1,247 1,292 1,457 1,512
Interest 249 229 239 267 280 273 314 346 385 424 442 482 510
328 299 283 327 280 299 293 311 306 345 365 434 453
Financing Profit 39 90 165 228 200 240 301 409 479 478 486 542 549
Financing Margin % 6% 15% 24% 28% 26% 30% 33% 38% 41% 38% 38% 37% 36%
1 1 2 3 1 2 2 1 1 1 3 2 1
Depreciation 11 12 12 12 12 13 13 12 12 12 13 14 14
Profit before tax 29 79 156 218 189 229 290 398 467 467 476 529 535
Tax % 29% 24% 25% 26% 27% 24% 25% 25% 25% 26% 26% 25% 26%
20 60 117 160 139 175 217 297 348 347 353 397 398
EPS in Rs 1.45 4.08 7.69 10.08 8.89 11.22 13.59 18.98 22.30 21.81 22.20 24.91 24.95
Gross NPA % 7.56% 7.67% 6.02% 3.61% 3.11% 2.17% 1.71% 1.21% 0.89% 0.77% 0.97% 1.18% 1.46%
Net NPA % 0.77% 0.59% 0.27% 0.24% 0.29% 0.35% 0.45%
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Revenue 1,282 1,704 2,461 2,669 3,487 5,119 5,509
Interest 417 582 933 987 1,216 1,738 1,858
361 641 1,308 1,235 1,179 1,444 1,597
Financing Profit 504 481 219 447 1,092 1,937 2,054
Financing Margin % 39% 28% 9% 17% 31% 38% 37%
1 1 5 81 64 54 6
Depreciation 8 20 44 47 50 51 53
Profit before tax 498 462 180 481 1,105 1,939 2,007
Tax % 35% 27% 27% 27% 25% 25%
322 335 131 353 826 1,446 1,495
EPS in Rs 22.41 23.17 8.61 22.65 52.87 90.72 93.87
Dividend Payout % 0% 0% 0% 0% 0% 1%
Compounded Sales Growth
10 Years: %
5 Years: 32%
3 Years: 28%
TTM: 39%
Compounded Profit Growth
10 Years: %
5 Years: 35%
3 Years: 122%
TTM: 45%
Stock Price CAGR
10 Years: %
5 Years: 19%
3 Years: 22%
1 Year: -4%
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 18%
Last Year: 25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 144 144 156 156 159 159
Reserves 2,222 2,590 3,536 4,011 4,948 6,411
4,867 9,540 10,941 12,921 16,312 21,841
126 316 427 394 439 435
Total Liabilities 7,357 12,590 15,060 17,482 21,858 28,846
25 576 573 629 599 609
CWIP 2 3 1 3 4 5
Investments 0 46 1 1 455 1,439
7,330 11,965 14,486 16,849 20,801 26,794
Total Assets 7,357 12,590 15,060 17,482 21,858 28,846

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-1,378 -2,253 -455 -2,713 -3,290 -4,734
-7 -608 24 -33 -314 -994
1,829 2,915 2,146 1,967 3,365 5,494
Net Cash Flow 444 54 1,715 -780 -239 -234

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
ROE % 13% 4% 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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