Poonawalla Fincorp bags Rs 375 Cr as consolidated PROFIT after tax 

An announcement was made by the Board of Directors of Poonawalla Fincorp limited (PFL) which is a non-deposit taking and is a systematically important NBFC which focuses mainly on consumer and small business finance. It announced the audited results for the year end in March 31, 2022.

The Performance Highlights (Consolidated) Assets Under Management for FY22 witnessed an increment of Rs 16,579 Cr and recorded a growth of 17 per cent over the FY21. Whereas the disbursements valued at Rs 9,494 growing by 158 per cent over FY21.

Housing Subsidiary Poonawalla Housing Finance Limited (PHFL) crossed the Rs 5000 Cr AUM tab in Mar’22. NIM saw an increase by 65 bps YoY to 8.9 per cent. Consolidated PBT for FY22 stood at Rs 492 Cr against a loss of Rs 749 Cr in FY21. Whereas PAT for FY22 stalked at Rs 375 Cr.

The collections remained stale with a exceeding collection efficiency of 108.4 per cent in Mar’22 Asset Quality (Consolidated). This is also in alignment to depreciation of 2.7 per cent and 1.1 per cent respectively in Mar’22. 

The company is doing well as per the coverage ratios across all the three stages. The standard asset provision coverage ratio for Mar’22 was 2.7 per cent. While the Stage 3 provision coverage ratio stacked at 58.9 per cent. 

Liquidity and Cost of Borrowings (Consolidated).

The liquidity position of the company stays firm at a surplus value of Rs 3890Cr. The firm and its subsidiary PHFL withstood with there earlier rating of ‘AA+ / Stable’ by CRISIL and CARE.

CA Abhay Bhutada, Managing Director, Poonawalla Fincorp said, “We are excited to enter the new financial year with momentum by our side. We are poise to grow as the execution excellence of consolidation phase propels us now into the growth orbit.