Concall Summary: CreditAccess Grameen Ltd Q4FY20

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Business Overview (Standalone)

  • NII at Rs 287 crores vs Rs 227 crores YoY; NIM at 12% vs 12% YoY
  • Cost to income ratio at 36.7% vs 35.2% YoY
  • PPOP – ex merger expenses at Rs 186 crores vs Rs 152 crores YoY
  • Total Credit cost at Rs 140.7 crore in Q4FY20; COVID provision at Rs 83 crores
  • PAT at Rs 23 crore vs Rs 76 crore YoY


  • Equirus Securities
  • Investec
  • ICICI Prudential
  • Aditya Birla Sun Life Insurance
  • Dalal & Broacha
  • Moon Capital
  • Naredi Investment
  • Sundaram Mutual Fund

Concall Highlights

  • Standalone loan growth for FY20 was 38% YoY. Borrowers base has increased 18% YoY to 29.1 lakh
  • CreditAccess Grameen Ltd. (CAGL) has further diversified its branch network during the year and lowered its dependency on Karnataka. Share of branch network drops to 21% from 35%; 46% to 31% in terms of borrowers and 53% to 40% in terms of the loan portfolio
  • As on date, 98% of branches are operational and 90% field force is back
  • CAGL has resumed disbursement and collection
  • Company has raised Rs 2,200 crore at 9% during Q4 and drawn Rs 425 crores from banks in May at 8%
  • CAGL has not collected any amount till May but started collecting from June
  • Company is expecting that 70% of the customer base is not likely to opt for the second moratorium
  • CAGL has completed the purchase of 76.08% stake in Madura Micro Finance Ltd. for Rs 661.2 crores
  • 70% of Madura Micro Finance book from Tamil Nadu and 10-12% from Maharashtra
  • CAGL has received moratorium from 60-65% of its lenders
  • About 55% of borrowers pay weekly, 38% of borrowers pay fortnightly and 8% pay on a monthly basis
Also Read on FinMedium:  Concall Summary: CSL Finance Ltd Q1FY21

Image source: Company website

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Karan Sharma

Karan Sharma

The Concall Summary Guy | CFA | Investor
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