SUMMARY OF Q3 CONCALL
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Company now has a network of 1.3 MN adhikari and have presence in 2.4 lakh villages and 6500 blocks. Company now wants the adhikari network to become a financial services network.
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Strong headwinds are there in the AEPS segment
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Service fee revenue has grown 9% on YoY basis and 2% on QoQ basis.
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Company started out building Spice Money as a network to deliver basic cash payments. Now the company is moving on from just a cash payment business to a multi-product business.
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Collection business is now contributing to 13% of the company’s GM. The GTV has grown 59% on a YoY basis from 4300 crs to 7000 crs. Bill payments is also seeing a significant ramp up YoY from 516 crs to 1043 crs and 20% growth QoQ.
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Banking services, the company has started selling CASA accounts. Opened around 43000 accounts vis-a-vis 57000 accounts. The float however is continuing to increase.
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Credit is also an important business line for the company. Company has dispersed over 73000 loans aggregating to around 222 crs.
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Fundraising the company will think of after a few quarters once the business model stabilizes around not just being an AEPS centric business but a few more products.
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Company hired BCG to work with them to define the strategy for next 5 years.
Disclosure – Invested
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