CreditAccess Grameen Ltd

About

CreditAccess Grameen is engaged in the Business of providing micro finance services to women who are enrolled as members and organized as Joint Liability Groups (JLG) or Self-Help Groups ('SHG').

  • Market Cap 12,634 Cr.
  • Current Price 814
  • High / Low 1,001 / 305
  • Stock P/E 46.4
  • Book Value 181
  • Dividend Yield 0.00 %
  • ROCE 11.6 %
  • ROE 13.0 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 46.38% CAGR over last 5 years

Cons

  • Stock is trading at 4.51 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
Revenue 228 250 286 310 350 336 376 393 453 461 510 471
Interest 101 81 97 107 110 103 124 136 146 168 185 192
28 57 75 87 85 114 102 124 157 258 235 169
Financing Profit 99 112 114 116 155 119 151 133 151 35 90 110
Financing Margin % 43% 45% 40% 37% 44% 35% 40% 34% 33% 8% 18% 23%
Other Income 2 0 0 0 0 0 0 0 0 0 1 1
Depreciation 1 2 2 2 2 2 3 6 5 5 5 6
Profit before tax 99 111 112 114 154 118 148 127 146 30 86 105
Tax % 35% 35% 36% 36% 35% 35% 35% 21% 26% 24% 26% 25%
Net Profit 64 72 72 73 100 76 96 101 108 23 64 78
EPS in Rs 5.02 5.58 5.62 5.12 6.95 5.32 6.67 7.02 7.51 1.58 4.41 5.42
Gross NPA % 0.82% 1.00% 0.61% 0.85% 1.57%
Net NPA % 0.05%
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
Revenue 88 146 278 464 708 871 1,282 1,683 1,895
Interest 42 72 129 208 317 354 417 576 690
39 50 76 126 264 184 360 637 818
Financing Profit 7 24 74 130 128 332 505 470 386
Financing Margin % 7% 16% 26% 28% 18% 38% 39% 28% 20%
Other Income 2 2 3 2 1 1 1 1 2
Depreciation 1 1 2 3 4 5 8 20 22
Profit before tax 8 25 75 130 124 328 498 451 366
Tax % -5% 33% 35% 36% 35% 35% 35% 27%
Net Profit 8 17 49 83 80 212 322 328 273
EPS in Rs 2.00 3.14 6.68 11.41 9.37 16.54 22.41 22.75 18.92
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:%
5 Years:43%
3 Years:33%
TTM:30%
Compounded Profit Growth
10 Years:%
5 Years:46%
3 Years:60%
TTM:-27%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:1%
Return on Equity
10 Years:%
5 Years:16%
3 Years:16%
Last Year:13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
40 53 73 73 86 128 144 144 144
Reserves 71 154 303 387 605 1,309 2,222 2,525 2,665
Borrowings 389 805 1,291 2,233 2,668 3,623 4,867 7,823 7,901
44 46 60 115 205 53 126 170 278
Total Liabilities 543 1,058 1,727 2,808 3,564 5,114 7,357 10,662 10,987
3 3 4 11 12 16 25 87 95
CWIP 0 0 2 0 3 1 2 3 0
Investments 0 0 0 0 0 0 0 661 661
540 1,055 1,720 2,796 3,549 5,096 7,330 9,911 10,231
Total Assets 543 1,058 1,727 2,808 3,564 5,114 7,357 10,662 10,987

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-931 -425 -1,726 -1,378 -2,276
-4 -5 54 -7 -668
934 579 1,470 1,829 2,935
Net Cash Flow -1 149 -202 444 -9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROE % 10% 17% 20% 14% 20% 17% 13%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
80.30 80.26 80.19 80.14 80.05 80.01 79.94 79.91 79.87
6.46 6.72 7.58 8.52 7.75 6.28 5.59 6.16 5.40
5.11 5.45 5.54 5.50 6.62 7.78 8.66 8.40 8.87
8.14 7.56 6.69 5.84 5.58 5.94 5.80 5.53 5.86

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