Spandana Sphoorty Financial Ltd.
Q4FY22 Quarterly Result announced for Spandana Sphoorty Financial Ltd.
Spandana Sphoorty Financial announced Q4FY22 Result:
- Spandana Sphoorty announces FY22 Results, ends fiscal year with successful transition and a positive growth trajectory
- Debt Equity Ratio: low 1.2X leverage
- Net profit margin: healthy 8.1%
- ROA and ROE: 6.9% and 16.6%
- Provision Coverage: 10.6% on On-book portfolio (648 crores)
- Net NPA: 6%, in line with COVID-impacted industry benchmarks
- CRAR – robust 51.09%, providing significant balance sheet cushion and runway for future growth
Mr. Shalabh Saxena- Managing Director and CEO while commenting on the performance and future outlook of the Company said: FY 22 was a watershed year and it is a matter of great pride that we successfully managed the various disruptions during the year. With successful transition of management, a reasonably good Quarter 4 (on key business parameters) and various efforts undertaken to strengthen the fundamentals of business, we feel confident of charting a quality growth path for Spandana in the coming years.
As a team we have articulated a Vision 2025 for the company where we are planning to scale up our business to an AUM of 15,000 crore levels (~2x from the present) in the next 3 years. Our immediate 5 priorities will be
- People: Reinforce the middle & Senior management team
- Strengthen Governance, Risk & Control with added focus on refining Processes
- Focus on Customer Acquisition led business growth while ensuring retention of existing customers
- Technology scale up to deliver an end-to-end paperless customer experience
- Customer led initiatives with emphasis on Product, Service & meeting their life cycle needs.
With a clear focus on rural India, we are confident of increasing our market share by riding on the significant anticipated growth in these markets. The entire organization is taking incremental steps each day to converge on achieving the articulated objectives defined in the Vision 2025 for the company.