Ugro Capital Ltd

Q3FY23 Quarterly Result Announced for Ugro Capital Ltd.

Finance firm Ugro Capital announced Q3FY23 results:

Q3FY23:

• AUM of Rs 5,095 crore, up 97% YoY and 16% QoQ
• Disbursement of Rs 1,874 crore, up 78% YoY and 13% QoQ
• Achieved off-book AUM of 35%, up from 29% in Sep 2022, reached the desired off-book AUM target for Q3FY23
• Net total income stood at Rs 108.0 crore, up 131% YoY and 24% QoQ
• PBT at Rs 22.2 crore, up 338% YoY and 27% QoQ
• GNPA/NNPA at 1.7%/1.1%

Commenting on the results, Shachindra Nath, Vice-Chairman and Managing Director of UGROCapital, said, “We scaled our business, reached the Rs 5,000 cr AUM-milestone, and met our FY23 off-book AUM guidance a quarter ahead of schedule, thanks to our unwavering focus on our core competencies, extensive use of data analytics in decision-making, and widespread acceptance in the banking and MSME industries. Our Q3FY23 results, with the highest-ever disbursement and improved profitability, demonstrate our unwavering commitment to growth. We continue to make progress towards the company’s core profitability on QoQ basis.

We have already assisted over 38,000 MSMEs and disbursed over Rs 10,500 crore. Taking the pandemic into account, we reached this level in about 2.5 years, beginning in April of 2019. This is incomparable, especially when compared to our overall credit performance, which is industry-leading. Our underwriting model, GRO score 3.0, is being upgraded to derive power insights and better underwrite the MSME segment, and we will soon launch a credit line on UPI for small businesses.”

Result PDF