Arman finance Q1 FY24 Earning updates
Another strong quarter from Arman
- AUM +54% YoY to 2143 Cr, disbursement of 537 Cr in Q1 (+42% YoY).
- 40 Cr PAT after 13Cr Provision and write off.
- GNPA of 2.5% and NNPA of 0.1%
- ROAA of 7.8% and RoE is 36.5%.
- Share holder equity is 406 Cr, including CCD & OCRP at 457 Cr.
Arman initiated expansion to Jharkhand and Telangana. Jharkhand on Microfinance and Telangana on MSME.
Currently operational in 10 states with network of 343 branches.
Regarding newly entered markets, Bihar has done exceptionally well. Now biggest Microfinance market in India outpacing Tamilnadu, Asset quality very good as well. Company closely monitoring the situation, won’t accelerate growth in Bihar for now (market has grown too fast and Bit of a too good to be true situation right now). Long term future for Bihar looks bright.
Haryana is good in terms of asset quality, but growth is slow. Telangana and Jharkhand is too early to comment.
Disclosure: Invested
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