Q3 2024 Capri Global Capital Ltd Earnings Call Transcript
Key Points
- Capri Global Capital Ltd (BOM:531595) reported a robust 54% year-on-year growth in overall AUM, reaching INR 13,360 crores.
- The company's net profit increased by 82% year-on-year to INR 680 million.
- The Board approved a stock split and a 1:1 bonus issuance, which is expected to improve liquidity.
- The company added 311 branches year-on-year, bringing the total branch count to 920, aiding in business expansion.
- Capri Global Capital Ltd (BOM:531595) has appointed three distinguished leaders as independent directors, strengthening its Board and executive management.
- The gross NPA ratio increased by 80 basis points quarter-on-quarter to 2.10%, indicating a rise in non-performing assets.
- The Gold Loan business is currently incurring losses, with an expected loss of INR 100 crores for the year.
- The cost-to-income ratio remains elevated at 63%, despite a decline of 392 basis points quarter-on-quarter.
- The company's incremental cost of funds has increased, with a current rate of 9.8% for CGCL and 9% for the housing finance segment.
- There is a significant rejection rate of 60% for loan applications, indicating stringent credit criteria or potential issues in loan approval processes.
Ladies and gentlemen, good day, and welcome to the Capri Global Capital Limited Q3 FY '24 Earnings Conference Call hosted by Go India Advisors. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Ravikant Bhat. Thank you, and over to you, sir.
Good afternoon, everyone. This is Ravikant. I shall read out a brief disclaimer for today's call. The discussion on today's call regarding CGCL's earnings performance will be based on judgments derived from the declared results and information regarding business opportunity available to the company at this time.
The company's performance is subject to risks, uncertainties and assumptions that could cause actual results to differ materially in the future. Given these uncertainties and other factors, participants on today's call may observe due caution while interpreting the results. The full disclaimer is available on Slide 43 of Q3 FY '24 investor deck. Participants are requested to note the same.
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