CONSOLIDATED FINANCIALS Q2FY22 Q2FY21 Y-o-Y Q1FY22 Q-o-Q
AUM 52,712 41,474 27.1% 49,477 6.5%
MSME 26,797 21,280 25.9% 25,463 5.2%
Construction Finance 9,563 9,176 4.2% 8,715 9.7%
Affordable Housing 13,219 9,150 44.5% 12,153 8.8%
Indirect Retail Lending 3,134 1,868 67.7% 3,145 -0.4%
Disbursement 5,850 1,896 208.5% 3,083 1.9 x
Total Income 1,398 1,180 18.4% 1,227 13.9%
PAT 525 610 -14.0% 459 14.2%
Spread 7.9% 8.3% -37 bps 7.7% 27 bps
Cost-to-income 42.0% 30.1% 1184 bps 35.7% 624 bps
RoA 3.7% 4.4% -73 bps 3.4% 27 bps
RoE 11.7% 12.6% -86 bps 11.1% 64 bps
Gross Stage 3 3.3% 2.2% 110 bps 3.4% -19 bps
PCR 81.9% 94.4% -1256 bps 76.4% 548 bps
Capri Global reports 27% YoY Growth in AUM; Consolidated PAT at a robust Rs525mn
Consolidated Key Performance Highlights for Q2FY22
Assets Under Management
▪ Q2FY22 was first full operational quarter after operations resumed in Jun’21 post second Covid-19 wave lockdown.
▪ AUM ed a 27% YoY growth with a healthy momentum in all verticals.
▪ Disbursements were up by a sharp 3.1x YoY to Rs5,850mn.
Liability Management
▪ CGCL continued to maintain a well-funded and diversified liability profile with relationships across 17 lending
institutions.
▪ The liability mix is well diversified across market borrowings, commercial bank borrowings, and refinance
institutions.
▪ Weighted average cost of borrowing declined 101bps YoY to 8.18%.
Earnings Trend
▪ Total Income (NII + other income) increased 18% YoY to Rs1,398mn.
▪ Core spreads were stable 7.1% dropping a marginal 13bps QoQ.
▪ Operating profit increased 8% YoY to Rs787mn.
▪ Profit after tax declined 14% YoY to Rs525mn. The decline was mainly on standstill asset quality
classification in Q2FY21 leading to almost negligible NPA provisions.
▪ Cost-income ratio was noted at 42%, higher than recent average mainly due to front loaded roll-out of new
branches and recruitment.
Asset Quality
▪ Gross Stage 3 increased 111bps YoY to 3.4%. It may be noted asset quality classification was at a standstill in Q2FY21
owing to regulatory forbearance early during the Covid-19 pandemic.
▪ Provision Coverage Ratio further improved to 81.9% from 76.4% in Q1FY22.
▪ Restructured assets increased to Rs2,189mn from Rs2,038mn in Q1FY22. Restructuring option is over as per the RBI
framework guidelines.
▪ Collection Efficiency was stable; MSME collection efficiency was 86% (stable Q-o-Q) while Housing Finance
collection efficiency was 95% (unchanged Q-o-Q).
Strong Capital Adequacy
▪ CGCL remains well capitalized with a Tier I capital adequacy at 35.8%.
▪ CGHFL also remains at very robust capital levels with Tier I capital adequacy at 34.3%.
▪ The capitalization levels are robust to strong growth over medium term.
Return Ratios
▪ Annualized RoE / RoA of 11.7% / 3.7% respectively.
▪ Annualized (diluted) EPS was Rs11.88 and book value per share stood at Rs103.2 in Q2FY22.
Commenting on the performance, Founder & Managing Director Mr. Rajesh Sharma said:
“Q2FY22 was the first full quarter of operations after we resumed lending activity in Jun’21 post second wave lockdown.
Our Q2FY22 results are a reflection of the optimism we have expressed in our business and growth opportunities. The
robust pick-up in disbursements across all asset categories of CGCL has only added to the momentum which we see
gathering further pace as the economy fully unlocks in H2FY22 with gathering pace of vaccination and subdued Covid-19
infections.
At CGCL, we remain committed to our medium-term CAGR of 22-27% between FY22E-FY27E. This is an achievable target
based on the organic growth opportunities we see in our product segments with new products expected to add traction
in next two years.”