Capri Global Capital (531595) Q1 24/25 earnings summary

Executive summary

• Achieved 56% year-on-year growth in consolidated AUM to INR 17,457 crore (Rs174,579mn) in Q1 FY2025, with disbursements up 109% year-on-year; retail AUM remains above 80% of total.

• Housing and gold loan segments drove momentum, with gold loan AUM up 238% year-on-year and now profitable at the operating level; micro LAP segment launched targeting rural customers.

• PAT for Q1 FY2025 stood at INR 75 crore (Rs757mn), up 19% year-on-year; technology initiatives fully implemented, digitizing the loan lifecycle.

• Board approved unaudited consolidated and standalone Q1 FY2025 results and a fund-raising plan up to INR 20,000 crore (₹2,000 crore for standalone), subject to approvals.

• Branch network expanded to 968 (+86 YoY, +33 QoQ); staff count at 10,092 (+3% YoY).

Financial highlights

• AUM reached INR 17,457 crore, up 56% year-on-year; disbursements at INR 5,619 crore, up 109% year-on-year.

• Net interest income rose 27% year-on-year and 18% quarter-on-quarter to INR 301 crore (Rs3,013mn); non-interest income up 35% year-on-year.

• Pre-provisioning operating profit at INR 145 crore, up 33% quarter-on-quarter; operating profit increased 34% year-on-year to Rs1,452mn.

• Consolidated net profit at INR 75 crore (Rs757mn), up 19% year-on-year; consolidated revenue from operations reached ₹7,176.30 million, up from ₹5,013.13 million year-on-year.

• Cost-to-income ratio improved to 64.6% from 70.5% in Q4 FY2024.

Outlook and guidance

• Targeting INR 30,000 crore AUM by FY2027, with retail AUM to remain above 80% of portfolio.

• ROE expected to reach 10.5%-11% in FY2025 and 15% by FY2027 as scale and efficiency improve.

• Gradual Gold Loan branch expansion (about 50 new branches in FY2025); Micro LAP to add 70 branches in next three quarters.

• Insurance distribution to emerge as a key fee contributor in FY2025.

• Board approved raising up to ₹2,000 crore through equity, debt, or convertible securities for future growth.