CreditAccess Grameen (CREDITACC) Q4 13/14 earnings summary

Executive summary

• FY14 revenue reached Rs 147.78 crore and PAT Rs 18.51 crore; operations expanded to 176 branches, 42 districts and 568,958 members.

• After two years of consolidation, the next phase planned geographic expansion, supported by fresh equity, improved efficiency and strong portfolio quality.

Financial highlights

• Revenue rose to Rs 147.78 crore from Rs 89.24 crore YoY; PBT was Rs 27.65 crore versus Rs 9.05 crore, and PAT was Rs 18.51 crore versus Rs 8.46 crore.

• Total expenses increased to Rs 120.18 crore from Rs 80.19 crore; finance costs were Rs 69.40 crore, employee costs Rs 29.25 crore and provisions/write-offs Rs 5.73 crore.

• Loans disbursed rose to Rs 1,028.1 crore from Rs 606.4 crore; portfolio outstanding, including managed loans, reached Rs 810.1 crore from Rs 523.9 crore.

Outlook and guidance

• FY14-15 marked the planned start of faster growth, with expansion into new geographies and services for low-income households.

• Long-term ambition: reach a Rs 3,500 crore portfolio by 2020 and serve over 2.0 million poor and low-income households.

• Planned technology roadmap and new risk-management systems were intended to support scale and strengthen risk monitoring.