The Board of Directors of Capri Global Capital Ltd. (CGCL), a non-deposit taking and systemically important NBFC (NBFC-ND-SI) announced the audited financial results for the quarter and year ended March 31st, 2025.
Key take aways are as follows:
Business and Earnings Performance
Delivers Strong 4Q FY25 Operational Performance; Consolidated AUM Crosses Rs 22,850 crores
CGCL continued the robust growth trajectory in 4QFY25. The consolidated AUM including co-lending AUM increased 46% YoY to touch Rs 22,857 crores. Retail AUM growth was driven by Gold Loans up by 130% YoY and Housing Loans up by 24% YoY. The co-lending AUM reached Rs 4,079 crores, forming 17.8% of total consolidated AUM, up from 11.7% in 4QFY24, reflecting CGCL’s deepening partnerships with leading banks. Disbursements grew by 41% YoY to Rs 8,389 crores in. The growth remains granular and diversified, with live customer accounts surpassing 720k.
Record Profit Growth in FY25; PAT Surges 71% YoY
Capri Global Capital Limited closed FY25 on a high note, reporting a robust PAT of Rs 479 crores, up 71% YoY, reflecting margin expansion, strong operating leverage and consistent growth across business segments while maintaining robust asset quality. For 4QFY25, PAT grew to Rs 178 crores, marking a stellar 115% YoY and 39% sequential growth. The company delivered healthy profitability metrics for 4QFY25, with RoAE and RoAA of 16.9% and 3.6% respectively, underscoring CGCL’s disciplined approach to capital allocation and risk-adjusted returns. Net Interest Income for the FY25 rose to Rs 1,332 crores, marking a 35% increase YoY, driven by strong expansion in the retail loan book and continued margin improvement. Blended yields and spreads stood at 17.3% and 7.8%, respectively, reflecting strength in pricing and portfolio mix.
Strong Growth in Fee-Based Income; Non-Interest Revenue Remains a Key Strategic Lever
We continue to strengthen non-interest income streams in FY25, reinforcing our strategy of building a diversified and resilient earnings profile. Non-interest income grew by 31% YoY in FY25 to Rs 501 crores, which contributed 27.3% of net total income for the year, supported by robust growth in co-lending fee income and insurance distribution.
The company’s car loan distribution business maintained its upward momentum, with origination of Rs 2,969 crores in 4QFY25, reflecting an 8% YoY increase. With a rapidly expanding footprint and strong relationships across 12 partner banks and financial institutions, CGCL has established a scalable platform in this segment.
On the insurance distribution front, CGCL generated net fee income of Rs 73 crores in FY25, and expects this to remain a meaningful contributor going forward, aided by partnerships with 18 insurance companies and growing penetration across retail customer base.
Operational Efficiency Strengthens with Expanding Scale and Technology Integration
Our branch network expanded to 1,111 locations in 4QFY25, with a net addition of 45 new branches, while the employee base grew 13% YoY to 11,410. Investments made over the past three years are yielding results, with the cost-to-income ratio improving to 54.8%, down from 70.5% in 4QFY24 and 58.2% in 3QFY25.
Supported by better productivity and digital enablement, pre-provision operating profit rose 61% YoY to Rs 734 crores in FY25, reflecting strong operating leverage and execution efficiency.
Improved Asset Quality Backed by Analytics-Led Underwriting
CGCL is investing in advanced analytics and data science capabilities to enhance customer risk profiling, which will further improve underwriting and allow better risk based pricing. Our credit cost for FY25 stood at Rs 101 crores, an improvement from 0.79% in FY24 to 0.63% in FY25. Gross Stage 3 ratio improved to 1.5% in 4QFY25, down by 40 bps YoY. Net Stage 3 ratio improved to 0.9%, down by 17 bps YoY. PCR on Stage-3 loans stood at 41.7% in 4QFY25.
Strong Capital Adequacy
CGCL maintains a robust financial position with a strong standalone CAR of 22.8% in 4QFY25, supported by a Net worth of Rs 3,965 crores. Similarly, CGHFL boasts a CAR of 26.9% and a Net worth of Rs 852 crores ending 4QFY25.
Founder & Managing Director Mr. Rajesh Sharma Commented:
“We continue to see significant opportunities in underpenetrated segments, and our diversified, secured lending model is well-positioned to deliver sustainable, profitable growth. Our tech-led infrastructure, strong co-lending partnerships, and focus on customer experience are enabling us to scale efficiently and responsibly. Momentum remains strong across all segments, including newly launched products. Margin expansion through high-yield offerings, steady growth in fee-based income, and tech-driven cost efficiencies are supporting robust profitability. Operating leverage and data-backed underwriting are enhancing productivity and keeping credit costs in check, while cross-sell opportunities drive growth without additional acquisition costs. Backed by strong asset quality and capital adequacy, we are confident of achieving Rs.50,000 Cr in AUM and RoAE of 16-18% by FY28.”
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