U GRO Capital AUMs total Rs 1,561 cr, monthly disbursals grow strong
Aug 12, 2021
Mumbai (Maharashtra) [India], August 12 : Small business lending fintech platform U GRO Capital said on Thursday its assets under management stood at Rs 1,375 crore at June-end compared to Rs 847 crore a year ago, marking an increase of 62 per cent.
By July-end, they had jumped to Rs 1,561 crore, it said adding cumulative disbursements crossed Rs 3,000 crore in Q1 and monthly disbursals crossed Rs 250 crore last month.
The loan book is 74 per cent secured and the largest sectoral concentration is light engineering (29 per cent) with the largest geographical concentration being Delhi NCR (20 per cent).
Portfolio gross non-performing assets (NPAs) and net NPAs stand at 2.29 per cent and 1.88 per cent espectively.
U GRO Capital's overall liability book rose to Rs 816 crore in Q1 FY22 with overall debt equity ratio still at 0.86x, indicating a long runway for growth.
The company said it maintains a strong liquidity profile with nearly Rs 300 crore of cash and equivalents.
Total income increased to Rs 51 crore in Q1 FY22 as compared to Rs 31 crore in Q1 FY21, clocking an increase of 67 per cent. Net interest income was up 15 per cent to Rs 27 crore from Rs 24 crore in the same period.
Net worth of the company stood at Rs 955 crore as on June 30. "We will carry on the momentum and traction that we saw in July, and remain committed to achieve our five-year goals," said Shachindra Nath, Executive Chairman and Managing Director.
