CreditAccess Grameen

₹1430.9 25.7 | 1.8%

WEBSITE BSE:541770 NSE : CREDITACC 10 May, 16:01

Market Cap ₹22805 Cr.

Stock P/E 15.8

P/B 3.5

Current Price ₹1430.9

Book Value ₹ 412.2

Face Value 10

52W High ₹1794.4

Dividend Yield 0.7%

52W Low ₹ 1019.5

Edit Ratio

CreditAccess Grameen Research see more...

Equity Research: CreditAccess Grameen Limited

Overview Inc. Year: 1991Industry: Finance - NBFC

CreditAccess Grameen Ltd, a NBFC, affords micro finance offerings for women from poor and low earnings families in India. The business enterprise gives microcredit loans for earnings era, domestic improvement, emergency, and own family welfare, in addition to life insurance and national pension scheme. It also presents retail finance loans, along with Grameen Udyog, Grameen Savaari, Grameen Vikas, Grameen Suvidha, and Grameen Vaahan. The agency was previously referred to as Grameen Koota Financial Services Pvt Ltd and changed its name to CreditAccess Grameen Ltd in January 2018. CreditAccess Grameen Ltd was founded in 1991 and is situated in Bengaluru, India. As of March 31, 2014, CreditAccess Grameen Ltd operates as a subsidiary of CreditAccess India.

CreditAccess Grameen Share Price

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Peer Comparison

CreditAccess Grameen Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Operating Revenue	687	822	760	812	908	1065	1170	1247	1292	1457
Other Income	2	3	1	2	2	1	1	1	3	2
Total Income	690	824	761	814	910	1066	1171	1248	1295	1459
Total Expenditure	283	327	280	299	293	311	306	345	365	434
Operating Profit	406	497	481	515	617	756	864	903	930	1025
Interest Expense	239	267	280	273	314	346	385	424	442	482
Depreciation	12	12	12	13	13	12	12	12	13	14
Profit Before Tax	156	218	189	229	290	398	467	467	476	529
Provision for Tax	39	59	50	54	74	101	119	120	122	132
Profit After Tax	117	159	139	175	216	297	348	347	353	397
Adjustments	3	0	0	0	0	0	0	0	0	0
Profit After Adjustments	120	159	139	175	216	297	348	347	353	397
Adjusted Earnings Per Share	7.7	10.2	8.9	11.2	13.8	18.7	21.9	21.8	22.2	24.9

CreditAccess Grameen Profit & Loss

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Operating Revenue	1282	1704	2461	2743	3545	5166
Other Income	1	1	5	7	6	7
Total Income	1283	1705	2466	2750	3551	5173
Total Expenditure	361	641	1308	1235	1179	1450
Operating Profit	923	1064	1158	1515	2371	3722
Interest Expense	417	582	933	987	1216	1733
Depreciation	8	20	44	47	50	51
Profit Before Tax	498	462	180	481	1105	1939
Provision for Tax	176	126	49	128	279	493
Profit After Tax	322	335	131	353	826	1445
Adjustments	0	-2	3	0	0	0
Profit After Adjustments	322	334	134	353	826	1445
Adjusted Earnings Per Share	22.4	23.2	8.6	22.7	52	90.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	29%	28%	0%	0%
Operating Profit CAGR	57%	31%	0%	0%
PAT CAGR	134%	35%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	39%	33%	24%	NA%
ROE Average	18%	10%	12%	12%
ROCE Average	12%	10%	11%	11%

CreditAccess Grameen Balance Sheet

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	2365	2734	3692	4167	5107
Minority's Interest	0	109	105	0	0
Borrowings	4867	9540	10941	12895	16287
Current Liability	121	201	390	596	691
Other Liabilities & Provisions	276	424	392	308	448
Total Liabilities	7629	13008	15520	17965	22533
Loans	6603	11099	11720	14765	19043
Investments	0	46	1	1	455
Fixed Assets	25	577	573	629	599
Other Loans	329	497	522	493	558
Other Non Current Assets	3	3	1	16	18
Current Assets	670	787	2704	2062	1861
Total Assets	7629	13008	15520	17965	22533

CreditAccess Grameen Cash Flow

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	130	590	645	2360	1581
Cash Flow from Operating Activities	-1378	-2253	-455	-2713	-3290
Cash Flow from Investing Activities	-7	-608	24	-33	-314
Cash Flow from Financing Activities	1829	2915	2146	1967	3365
Net Cash Inflow / Outflow	444	54	1715	-780	-239
Closing Cash & Cash Equivalent	574	645	2360	1581	1341

CreditAccess Grameen Ratios

#	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	22.41	23.16	8.61	22.65	51.98
CEPS(Rs)	22.96	24.71	11.28	25.68	55.12
DPS(Rs)	0	0	0	0	0
Book NAV/Share(Rs)	164.14	189.29	236.73	266.58	320.15
Net Profit Margin	25.09	19.68	5.34	12.87	23.3
Operating Margin	71.36	61.24	45.25	53.53	65.49
PBT Margin	38.82	27.08	7.33	17.53	31.18
ROA(%)	4.22	3.25	0.92	2.11	4.08
ROE(%)	13.66	13.2	4.1	9.01	17.87
ROCE(%)	12.65	10.7	8.28	9.26	12.06
Price/Earnings(x)	22.36	14.61	77.83	37.48	17.6
Price/Book(x)	3.05	1.79	2.83	3.18	2.86
Dividend Yield(%)	0	0	0	0	0
EV/Net Sales(x)	8.93	8.03	7.67	8.89	8.3
EV/Core EBITDA(x)	12.4	12.87	16.31	16.1	12.41
Interest Earned Growth(%)	0	32.91	44.4	11.45	29.25
Net Profit Growth	0	4.27	-60.83	168.7	133.96
EPS Growth(%)	0	3.35	-62.81	162.96	129.49
Interest Coverage(x) %	2.19	1.79	1.19	1.49	1.91

CreditAccess Grameen Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	73.89	73.85	73.82	73.74	73.71	73.68	66.77	66.69	66.66	66.58
FII	8.84	8.24	8.67	9.33	9.6	9.67	9.56	11.46	12	11.65
DII	10.04	10.94	10.75	12.68	12.53	12.28	11.91	15.77	15.79	15.76
Public	7.23	6.97	6.76	4.25	4.16	4.37	11.77	6.08	5.55	6.01
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	11.51	11.51	11.51	11.51	11.51	11.51	10.61	10.61	10.61	10.61
FII	1.38	1.28	1.35	1.46	1.5	1.51	1.52	1.82	1.91	1.86
DII	1.56	1.71	1.68	1.98	1.96	1.92	1.89	2.51	2.51	2.51
Public	1.13	1.09	1.05	0.66	0.65	0.68	1.87	0.97	0.88	0.96
Others	0	0	0	0	0	0	0	0	0	0
Total	15.58	15.59	15.59	15.61	15.62	15.62	15.89	15.91	15.92	15.94

Pros

Cons

Company has a low return on equity of 10% over the last 3 years.
Stock is trading at 3.5 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.