Satin Creditcare Network has announced its unaudited financial results for the third quarter (Q3) and nine months ended 31st December, 2024. The financial numbers are based on Indian Accounting Standards (IndAS), a statement from the company notified.
According to the statement, update on Q3 and 9M FY25 is as follows:
- Consistency in disbursement on a QoQ basis, leading to growth in AUM of 3% QoQ and 10% YoY
- PAT for Q3 FY25 stood at Rs 31 crore; reported 14 consecutive profitable quarters despite sector headwinds
- PAR reversal visible from Nov’24 onwards
- Collection efficiency of X bucket stood at 99.8 per cent during Q3 FY25
- Credit cost for 9M FY25 stood at five per cent (annualised); within the guided range
- Raised Rs 6,216 crore during 9M FY25 at group level; maintaining healthy liquidity
- Stable and competent management team; over nine years of vintage of core team in the company
Capital adequacy and liquidity
- The company’s capital base is strong with a capital adequacy ratio of 27.4 per cent as on 31st December, 2024
- Book value per share at Rs 232 on a consolidated basis
- The company continues to maintain a healthy balance sheet liquidity of Rs 1,581 crore as on 31st December, 2024, and has undrawn sanctions worth Rs 1,435 crore as on date
Asset quality
- On-book Gross Non-Performing Assets (GNPAs) stood at 3.9 per cent amounting to Rs 324 crore The company has sufficient on-book provisions amounting to Rs 322 crore as on 31st December, 2024, which is 3.9 per cent of on-book portfolio. Provisions required as per the Reserve Bank of India (RBI) is Rs 136 crore
- During 9M FY25, collection against write-offs was Rs 27 crore
- Collection efficiency for 9M FY25 stood at 96 per cent
In addition, the statement mentioned that Satin Housing Finance witnessed Year on Year (YoY) growth of 44 per cent in Assets Under Management (AUM), which stood at Rs 872 crore, having presence across 19 states with 8,464 customers.
It also stated that Satin Finserv has an AUM of Rs 479 crore and the GNPA is elevated as the company caters to the micro-finance graduated clients, and, currently, the micro-finance sector is facing headwinds.
Commenting on the performance, Dr HP Singh, Chairman-cum-Managing Director (MD), Satin Creditcare Network, said in the statement, “Resilience and adaptability have always been at the core of our journey. Over the years, we have built a business that is not only strong, but also agile and responsive to changing market dynamics. Our focus has always been on ensuring financial discipline, operational efficiency and a commitment to inclusion at large.
“Our performance in Q3 and 9M FY25 reflects this approach as we achieved AUM growth of 10 per cent YoY to Rs 10,778 crore, against our guided range of eight per cent to 10 per cent, while maintaining a disciplined credit cost of five per cent, which continues to be one of the best in the industry. Additionally, this quarter, we registered a profit of Rs 31 crore, further reinforcing our track record of 14 consecutive profitable quarters. The third quarter also demonstrated improvements, with a steady reversal in delinquency trends starting from November 2024 and further strengthening in December 2024 and January 2025. This momentum has contributed to both AUM growth and enhanced portfolio quality. Our PAR 1 stood at 6.4 per cent, outperforming industry benchmarks, while PAR 1 in our top five states also remained strong, supported by our client connections in key regions. Moreover, collection efficiency in the X bucket stood at an impressive 99.8 per cent, reflecting our success in arresting fresh flows through a focussed recovery strategy.”
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