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Spandana Sphoorty Financial Ltd share Price Today

Company details

953.00
989.80
470.00
1,243.20
6M Return 18.38%
1Y Return 68.76%
Mkt Cap.(Cr) 6,904.88
Volume 506,351
Div Yield 0.00%
OI
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OI Chg %
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Volume 506,351

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Non-banking Financial company Spandana Sphoorty Financial announced Q3FY24 results:

Financial Performance:
- Assets Under Management (AUM): Spandana's AUM has increased by 52% YoY to Rs 10,404 crore.
- Profit After Tax (PAT): PAT has seen a growth of 79%, reaching Rs 127 crore, with income rising by 75%.

Operational Performance:
- New Customer Acquisition: The company acquired 3.4 Lakh new customers, marking a YoY growth of 56%.
- Disbursements: Disbursements amounted to Rs 2,543 crore, an 8% increase from the previous year.
- Borrower Base: At the end of the quarter, the borrower count stood at approximately 29.6 Lakh, a 32% increase compared to the same quarter of the previous year.

Borrowings and Credit Rating:
- Borrowings: The company mobilized Rs 2,279 crore, an increase of 8% from the previous year.
- Credit Rating Outlook: ICRA updated Spandana's outlook to Positive, with a rating of A (Positive) from the previous A (Stable).

Asset Quality:
- Gross Non-Performing Assets (GNPA): GNPA is reported at 1.61%, showing a substantial improvement from 5.31% as on the same quarter of the previous year.
- Net Non-Performing Assets (NNPA): NNPA is at 0.48%, down from 2.52% YoY.
- Provision Coverage Ratio: The Provision Coverage Ratio stood at 70.45%.

Collection Efficiencies:
- Net Collection Efficiency: Reported at 97.2%, while Gross Collection Efficiency was at 99.9%.

Capital Adequacy:
- Capital to Risk (Weighted) Assets Ratio (CRAR): The CRAR at the end of December 2023 was 35%, indicating a strong capital position.

Shalabh Saxena, CEO and Managing Director, while announcing the results stated, “Q3FY24 was a quarter where Spandana crossed a milestone by reaching Rs 10,404 crore AUM. Aside from the PAT for 9 months ended December 2023 was an all-time high of Rs 372 crore in the history of Spandana surpassing the full-year profits of previous years.

End of the quarter we reached a borrower base of ~3 million while still maintaining good portfolio quality with GNPA at 1.61% & NNPA at 0.48%. We continue to execute on our strategy of customer acquisition-led growth as reflected in the healthy addition of about 3.4 L borrowers during the quarter thus taking the customer acquisition for this year to 9.5 Lac customers. Income was up 75% YOY to Rs 657 crore while PAT at Rs 127 crore for the quarter has seen an increase of 79% YoY.

Microfinance business presents a good opportunity for pan India players and as an established player we are cautiously optimistic about our progress in the current year. Both our Distribution & Liability franchisee is shaping well and we are taking the right steps to strengthen the organization for robust growth in the coming quarters.”

 

Result PDF

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Spandana Sphoorty Financial Ltd shares SWOT Analysis

Strengths (7)

  • Company with high TTM EPS Growth
  • Good quarterly growth in the recent results
  • Increasing Revenue every Quarter for the past 4 Quarters

Weakness (6)

  • Promoters increased pledged shares QoQ
  • Red Flag: High Interest Payments Compared to Earnings
  • Inefficient use of shareholder funds - ROE declining in the last 2 years

Opportunity (4)

  • Street Favorite: High Analyst Rating with at least 20% upside
  • Highest Recovery from 52 Week Low
  • Decrease in Provision in recent results

Threats (2)

  • Promoter decreasing their shareholding
  • RSI indicating price weakness

Resistance and support

R1 971.4
R2 978.9
R3 985.7
Pivot

964.57

S1 957.1
S2 950.3
S3 942.8
EMA SMA
999.8
1,021.2
982.3
887.9
987.4
1,063.1
989.9
866.5
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
KOTAK MAHINDRA LIFE INSURANCE COMPANY LIMITED - CLASSIC OPPORTUNITIES FUND ULIF 033 16 12 09 CLAOPPF Bulk Purchase 2023-08-30 765 924680 BSE
MAX LIFE INSURANCE COMPANY LIMITED A/C PAR Bulk Purchase 2023-08-30 765 718954 BSE
MAX LIFE INSURANCE COMPANY LIMITED - HIGH GROWTH FUND Bulk Purchase 2023-08-30 765 633987 BSE
Name Category Shares
PADMAJA GANGIREDDY PROMOTER 11.53%
KANGCHENJUNGA LIMITED PROMOTER 41.17%
KEDAARA CAPITAL FUND III LLP PROMOTER 7.04%

OUR RESEARCH VIEW

Investment recommendation
On a journey from business revival to sustainability...
Call Date
08 Jan 2024
Entry Price 1,156.00
Target Price 1,450.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
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Profit after Tax
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Spandana Sphoorty Financial Ltd Stocks COMPARISON

Financials( in Cr) Spandana Sphoorty Financial Ltd Bajaj Finance Ltd Bajaj Finserv Ltd Jio Financial Services Ltd Indian Railway Finance Corporation Ltd
Price 970.10 6,643.25 1,614.30 327.80 152.30
% Change 0.63 -0.82 -0.14 -1.84 -0.59
Mcap Cr 6,904.88 410,568.13 257,559.79 208,260.65 199,033.35
Revenue TTM Cr 1,400.75 41,398.35 82,071.70 44.84 23,891.95
Net Profit TTM Cr 12.39 11,507.69 12,209.54 31.25 6,337.01
PE TTM 14.35 30.03 33.07 0.00 33.18
1 Year Return 68.76 7.11 19.85 31.70 448.83
ROCE 5.96 11.76 12.69 0.03 5.32
ROE 0.40 23.46 28.18 0.02 14.66
INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 3,099.01 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 20,723.19 -6,502.89
LAST 3M 66,180.77 -20,510.57
LAST 6M 121,980.03 9,662.75
LAST 12M 182,040.92 177,457.32

Spandana Sphoorty Financial Ltd Information

Stock PE (TTM)
14.35
Promoter Holding
59.89%
Book Value
471.9849
ROCE
5.96%
ROE
0.4%
Description
  • Spandana Sphoorty Financial Limited was incorporated as a public limited company with the name `Spandana Sphoorty Innovative Financial Services Limited (`SSIFSL`) on March 10, 2003 at Hyderabad, Andhra Pradesh, India. A certificate of commencement of business was issued to SSIFSL on November 11, 2003 by the Registrar of Companies, Andhra Pradesh and Telangana at Hyderabad . On October 16, 2004, the Reserve Bank of India (`RBI`) granted a certificate of registration to the Company as a non-deposit accepting nonbanking financial company (`NBFC`). Subsequently, pursuant to a special resolution dated November 26, 2007 passed by the Shareholders, the name of the Company was changed to Spandana Sphoorty Financial Limited. Pursuant to a letter dated December 26, 2007, the RBI granted its no objection to the change of name of the Company to Spandana Sphoorty on January 3, 2008. The Company was granted NBFC - Microfinance Institution (`NBFC-MFI`) status by the RBI with effect from April 13, 2015 The Company is a leading, rural focused NBFC-MFI with a geographically diversified presence in India. It offers income generation loans under the joint liability group model, predominantly to women from low-income households in Rural Areas. As of March 31, 2019, the company is the fourth largest NBFC-MFI and the sixth largest amongst NBFC-MFIs and SFBs in India, in terms of AUM update. The Company has developed an in-depth understanding of the borrowing requirements of the low-income client segment. This business model involves regular client meeting processes through their employees, who maintain contact with clients across the districts that it covers. Through their loan products and client-centric approach, the company endeavours to strengthen the socio-economic well-being of low-income households by providing financing on a sustainable basis in order to improve livelihoods, establish identity and enhance self-esteem. Post exit from CDR in March 2017, the company increased its lender base, diversified its borrowings to new banks and NBFCs and also issued NCDs in the capital markets. As a result, during Fiscal 2018, with increasing flow of capital, the company expanded its operations and were able to effectively utilize its existing branch network and employees (that were earlier underutilized due to lack of capital). Prior to their exit from CDR in 2017, the company had limited access to capital, due to which the company was able to offer loans in lower ticket sizes than the demand from their clients. According to ICRA Research, the company had the lowest portfolio per branch amongst peer comparison of major NBFC-MFIs and SFBs, as of March 31, 2017. Post exit from CDR, the company was able to optimize the ticket sizes and also acquire new clients at existing and new branches. This helped the company to grow the Gross AUM in Fiscal 2018 at one of the highest rates (143.8%) among large NBFC-MFIs in India.

Registered Address

PNo 31&32 Ramky SeleniumTowers, Tower A Gr Fl Nanakramguda, Hyderabad, Telangana, 500032

Tel : 91-40-48126666
Email : secretarial:spandanasphoorty.com
Website : http://www.spandanasphoorty.com
Registrar

KFin Techologies Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 542759
NSE Code : SPANDANA
Book Closure Date (Month) :
BSE Group : A
ISIN : INE572J01011

FAQ’s on Spandana Sphoorty Financial Ltd Shares

You can buy Spandana Sphoorty Financial Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Spandana Sphoorty Financial Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Feb 26, 2024 03:55 PM the closing price of Spandana Sphoorty Financial Ltd was ₹ 970.10.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Feb 26, 2024 03:55 PM, the market cap of Spandana Sphoorty Financial Ltd stood at ₹ 6,904.88.

The latest PE ratio of Spandana Sphoorty Financial Ltd as of Feb 26, 2024 03:55 PM is 14.35

The latest PB ratio of Spandana Sphoorty Financial Ltd as of Feb 26, 2024 03:55 PM is 0.49

The 52-week high of Spandana Sphoorty Financial Ltd is ₹ 1,243.20 while the 52-week low is ₹ 470.00

According to analyst recommendations, Spandana Sphoorty Financial Ltd has a “Buy” rating for the long term.

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