Satin Creditcare Network’s AUM Rose 34% During FY 2024

On April 03, 2024, Satin Creditcare Network Limited released key business updates for Q4FY2024 and FY2024. On a standalone basis, the company witnessed a YoY growth of 34% in Assets under Management to ₹10,600 crore as of March 31, 2024, as compared to ₹7,929 crore as of 31st March 2023. The company witnessed meaningful growth in disbursement, which rose 30% YoY to ₹ 9,600 crore during FY 2023- 24 against ₹7,390 crore during FY 2022-23.

For FY2024, the collection efficiency stood at ~98%. In addition, the company raised ₹9,500 crore through various instruments during the year. The company infused capital of ₹338 crore in FY 2024. Out of which, ₹88 crore was raised against balance conversion of warrants for preferential allotment done in Dec 2021 and ₹250 crore via QIP in Dec ’23.

Satin Creditcare Network Limited has experienced robust growth throughout the quarter and fiscal year ending on March 31, 2024. Looking forward, the company remains steadfast in its growth trajectory, guided by its commitment to asset quality and profitability.

During Q3 FY2024, Satin Creditcare Network Limited delivered stellar earnings. Assets under Management (AUM) grew by 39% YoY to ₹1,174 crore on a consolidated basis. Disbursement for the quarter stood at ₹2,912 crore, reflecting a growth of 42%. The total revenue for the quarter amounted to ₹548.00 crores, up by 45% year on year. In addition, Satin Housing Finance Limited has reached an AUM of ₹607 crores, indicating growth of 58% YoY, having a presence across 4 states with 6,512 customers.

The company strengthened its presence with 94 new branches, taking the total branch network to 1,386 in 419 districts during Q3 FY2024. The company entered a co-lending arrangement with Karnataka Bank to provide financial support to Joint Liability Groups (JLGs) of economically active women in both rural and semi-urban areas during the quarter.

About Satin Creditcare Network Ltd

Satin Creditcare Network Ltd is a leading microfinance institution (MFI), which offers a bouquet of financial products in the Non‐MFI segment. On April 03, 2024, the Satin Creditcare share price opened at ₹234.65 and reached the day high of ₹236.35 at 10:09 AM.

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