Highest ever PAT of ₹ 585 crore in FY23, jumps 100% YoY AUM up 37% YoY to ₹ 16,143 crore; NNPA at 0.78%
Highest ever PAT of ₹ 585 crore in FY23, jumps 100% YoY AUM up 37% YoY to ₹ 16,143 crore; NNPA at 0.78% Declares 100% Dividend Pune, April 26, 2023: The Board of Directors of Poonawalla Fincorp Limited, a non-deposit taking systemically important NBFC, focusing on consumer and MSME finance, announced its audited financial results for the quarter and the year ended March 31, 2023.
Key Highlights – Q4FY23 (Standalone): Assets:
• Highest ever quarterly Disbursements at ₹ 6,371 crore, up 151% YoY and 89% QoQ.
• Assets Under Management (AUM) at ₹ 16,143 crore, up 37% YoY and 16% QoQ.
• Direct Digital Program (DDP) contribution in disbursements increased to 81% in Q4FY23
as compared to 66% in Q3FY23 and to 24% in Q4FY22.
Asset Quality:
• Gross NPA at 1.44%, reduced 185 bps YoY and 25 bps QoQ.
• Net NPA at 0.78%, reduced 52 bps YoY and 11 bps QoQ.
Profitability:
• Highest ever PAT at ₹ 181 crore for Q4FY23, up 103% YoY and 20% QoQ. For FY23, PAT stood at ₹ 585 crore, up 100% YoY.
• Highest ever Return on Assets (RoA) for Q4FY23 at 5%, up 178 bps YoY and 53 bps QoQ. For FY23, RoA stood at 4.4%, up 172 bps YoY.
• Net Interest Margin (NIM) for Q4FY23 was at 11.3%, an improvement of 87 bps YoY and 59 bps QoQ. For FY23, NIM was at 10.7%, an improvement of 89 bps YoY.
• Operating expenses for Q4FY23 stood at ₹ 196 crore, down 4% QoQ.
• Operating Profit (PPOP) for Q4FY23 was at ₹ 212 crore, up 84% YoY and 36% QoQ.
Dividend: The Board has recommended a dividend of ₹ 2 per share (100% of face value) for FY23, subject to shareholders’ approval.
Capital Adequacy and Liquidity:
• Capital Adequacy Ratio stood at 39% as of March 31, 2023.
• Liquidity buffer stood at ₹ 3,001 crore as of March 31, 2023. Rating Upgrade: CRISIL upgraded the long-term credit rating to AAA.
Commenting on Poonawalla Fincorp’s performance, CA Abhay Bhutada, Managing Director, said “FY23 has been a year of exemplary performance across business growth, credit quality and profitability. Our strong fundamentals and execution are reflected in our credit rating upgrade to AAA by both CRISIL and CARE. We have led the way in building a real Fintech model at scale, with asset quality which is best-in-class, along with superior profitability. Our ability to innovate, understand future trends, deliver at pace, and build a strong digital eco-system, has made us a lender of choice. With an efficient cost of borrowing, lower operating cost, controlled credit cost and a branch-lite tech-led model, we are well poised to deliver a sustainable and exceptional performance.”
About Poonawalla Fincorp
Poonawalla Fincorp Limited (“the Company”) is a Cyrus Poonawalla group promoted non- deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE). Consequent to the capital raise of ₹ 3,456 crore in May-2021, the Company is now part of the Cyrus Poonawalla Group with majority stake owned by Rising Sun Holdings Private Limited, a company owned and controlled by Adar Poonawalla.
The Company’s new identity “P” stands for Passion, Principles, Purpose, People and Possibilities. The Company has widespread coverage across 21 states. The Company has standalone AUM of ₹ 16,143 crore as on March 31, 2023 and employs around 2,500 people. The Company’s financial services offerings include pre-owned car finance, personal loans, loan to professionals, business loans, loan against property, supply chain.
