Ujjivan Financial – Small Finance Bank

https://www.bseindia.com/xml-data/corpfiling/AttachLive/2cc73014-c3a6-4aba-91e3-69df57e0da65.pdf

Q1 FY 24 results

Highlights:

1. Gross loan book at ₹25,326* crore up 30%/5% Y-o-Y/Q-o-Q.
2. Deposits at ₹26,660 crore as of Jun’23 up by 45%/4% Y-o-Y/Q-o-Q
   -Retail TD grew 71%/8% Q-o-Q/Y-o-Y
   -CASA grew 27% Y-o-Y taking CASA ratio at 24.6% as on Jun’23
3. GNPA declined to 2.4% as of Jun’23 vs 2.6% as of Mar’23; NNPA continues to be
   negligible at 0.06% as on Jun’23. Provision coverage ratio as on Jun’23 is 97.6%.
   Collection efficiency at 99%
4. Including Floating provisions of INR 250 crore, Total provision on books is INR 845 crore
   against GNPA of INR 597 crore.
5. Cost to Income ratio at 52.8% in Q1FY24 vs 58.5% for Q1FY23.
6. Capital adequacy ratio at 26.7% with Tier-1 capital at 23.7%.
7. PAT at INR 324 crore against INR 203 crore in June 22.
8. ROA at 3.80% and ROE at 29.80%
9. Reverse merger – On the merger with our promoter, the hearing of our application with the
   NCLT was completed on June 28, 2023 and we positively expect to receive the order
   soon.
10. Loan book breakup: 73% microfinance; 14% Affordable housing; 6% MSME, 5% FIG lending.
11. Avg Portfolio yield at 19.10% increased from 18.90% in march quarter. Microfinance
    Yield at 21.80%.
12. NIM at 9.2% against 9.10% in march quarter. Cost of Funds at 7.2% against 6.90% in
    march quarter.
13. Total Branches at 661. Opened 32 new branches during the quarter.

Disclosure: Invested.