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CreditAccess Grameen
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Company History
CreditAccess Grameen Limited (formerly known Grameen Koota Financial Services Pvt. Ltd.) is Bengaluru headquartered microfinance institution offering affordable financial products and services. The lending products cater to income generation, education, medical, festival, home improvement, water and sanitation and emergency needs of customers. The Company has enhanced the capabilities beyond solving basic credit needs to cover a wide range of financial and non- financial products including, unsecured business loans, mortgage-backed business loans, two-wheeler loans, gold loans, affordable housing loans, wage loss insurance, life insurance and AEPS enabled cash withdrawal facility to the microfinance model going beyond the traditional credit delivery mechanism.
The Company is engaged primarily in providing micro finance services to women who are enrolled as members and organized as Joint Liability Groups (JLG). In addition to core business of providing micro-credit, it uses distribution channel to provide certain other financial products and services to the members. It provides other categories of loans like family welfare loans, home improvement loans and emergency loans to existing customers. As of March 31, 2023, the Company had 1,786 branches across 352 districts in the States of Karnataka, Maharashtra, Madhya Pradesh, Chhattisgarh, Tamil Nadu, Odisha, Kerala, Goa, and the Union Territory of Puducherry.
CreditAccess Grameen Limited was originally incorporated as a Private Limited Company under the name 'Sanni Collection Private Limited' (SCPL) on June 12, 1991 at Calcutta, West Bengal. The Company converted into a Public Limited Company on November 27, 2017 and name of the Company was changed to Grameen Koota Financial Services Limited on December 18, 2017. Pursuant to Resolution passed by Shareholders, name of the Company was changed to CreditAccess Grameen Limited on January 12, 2018. Subsequently, RBI granted a fresh Certificate of Registration dated January 19, 2018, under the name 'CreditAccess Grameen Limited'. The Company is promoted by CreditAccess Asia N.V., a multinational company specializing in MSE (micro and small enterprise) financing.
In February 2007, the entire shareholding of SCPL was acquired by Vinatha M. Reddy, Vijitha Subbaiah and Suresh K. Krishna, in their respective individual capacity. Subsequently, in October 2007, the microfinance business being operated under T. Muniswamappa Trust (TMT), a public charitable trust engaged in the business of providing micro loans in Karnataka was transferred to SCPL. The microfinance business being operated under TMT was established as a programme under the name 'Grameen Koota' in 1999.
In 2008, Company launched Mifos software in all its branches. It commenced operations in Maharashtra. Subsequent to acquisition of SCPL and transfer of microfinance business of TMT to SCPL, SCPL was re branded under the 'Grameen' name, and pursuant to a Resolution of the Shareholders of SCPL, its name was changed from SCPL to Grameen Financial Services Private Limited ('GFSPL') on March 14, 2008, post which the Reserve Bank of India (RBI) granted a Certificate of Registration dated July 28, 2009 reflecting the change of name.
In 2010, the company raised Rs 57.60 crore through securitisation. In 2011, it commenced integration with Credit Bureau for credit decisions and also commenced multi-product strategy.
The Company granted NBFC-Microfinance Institution ('NBFC-MFI') status by the RBI with effect from September 5, 2013. Subsequently, the name of the Company was changed to Grameen Koota Financial Services Private Limited on November 13, 2014. Further, a fresh certificate of registration consequent upon change of name was issued to the company by the RBI on December 16, 2014. In 2014, CreditAccess Asia N.V. acquired a majority stake in the company.
In 2015, the company commenced operations in Madhya Pradesh and Chhattisgarh. It established 7 regional processing centres across its operational geographies. It launched a core banking IT solution - T24. In 2016, it introduced business loans facilities as part of the Retail Finance division.
CreditAccess Grameen came out with an initial public offer (IPO) during the period from 8 August 2018 to 10 August 2018. The IPO was a combination of fresh issue of Rs 630 crore and an offer for sale of 1.18 crore equity shares from promoter CreditAccess Asia N.V. The IPO was priced at Rs 422 per share. The stock made its debut on the bourses on 23 August 2018.
In August 2018, Company after listing its shares on the BSE & NSE completed a securitisation transaction valued Rs. 91.22 crore on August 27, 2018.
On 31 August 2018, Company completed a securitisation transaction of Rs 248.35 crore on August 31, 2018. With this transaction, it completed five securitization transactions and one Direct Assignment transaction totalling to Rs.733.11 crore in FY19.
The Company acquired 75.64% of the shareholding of Madura Micro Finance Limited (MMFL) from its existing shareholders on March 18, 2020, which was a subsidiary of the Company from March 18, 2020 up to March 31, 2020 and additionally acquired 0.44% of the share capital of MMFL on March 31, 2020.
During financial year 2020-21, Company completed Qualified Institutional Placement (QIP) of Rs. 8,000 million. It opened 35 new branches in March 2021 across Rajasthan, Bihar, Jharkhand, Madhya Pradesh, Gujarat and d Uttar Pradesh, which was in expansion line. CreditAccess India Foundation (CAIF) was incorporated on May 29, 2021, as a wholly owned subsidiary of the Company. During FY 2022, the Company opened 211 new branches.
The erstwhile Material Subsidiary, Madura Micro Finance Limited (MMFL) and CreditAccess Grameen Limited got merged through the Scheme of Amalgamation effective from February 15, 2023 and accordingly, all the undertakings of MMFL were transferred and vested in the Company on a going concern basis during the year 2022-23.
During the year 2022-23, the Company raised, by way of Public Issue, Rs 500 Crore of Secured NCDs having a face value of Rs 1000 each, allotted on November 23, 2022 and as a result, the NCDs got listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE).
The Company opened 167 new branches in FY23 across Bihar, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Uttar Pradesh, and West Bengal.
CreditAccess Grameen Share Price
CreditAccess Grameen share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
CreditAccess Grameen Market Cap
Market capitalization of CreditAccess Grameen indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how CreditAccess Grameen is valued compared to its competitors.
CreditAccess Grameen PE Ratio
CreditAccess Grameen PE ratio helps investors understand what is the market value of each stock compared to CreditAccess Grameen 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
CreditAccess Grameen PEG Ratio
The PEG ratio of CreditAccess Grameen evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
CreditAccess Grameen ROE (Return on Equity)
Return on Equity (ROE) measures how effectively CreditAccess Grameen generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
CreditAccess Grameen ROCE (Return on Capital Employed)
Return on Capital Employed (ROCE) evaluates the profitability of CreditAccess Grameen in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
CreditAccess Grameen Total Debt
Total debt of CreditAccess Grameen shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
CreditAccess Grameen Debt to Equity Ratio
The Debt-to-Equity (DE) ratio of CreditAccess Grameen compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
CreditAccess Grameen CAGR (Compound Annual Growth Rate)
CAGR shows the consistent growth rate of CreditAccess Grameen over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
CreditAccess Grameen Technical Analysis
Technical analysis of CreditAccess Grameen helps investors get an insight into when they can enter or exit the stock. Key components of CreditAccess Grameen Technical Analysis include:
Support Levels (S1, S2, S3)
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
Resistance Levels (R1, R2, R3)
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where CreditAccess Grameen shares often struggle to rise above due to selling pressure.
CreditAccess Grameen Dividends
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect CreditAccess Grameen ’s financial health and profitability.
CreditAccess Grameen Bonus Shares
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
CreditAccess Grameen Stock Split
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
CreditAccess Grameen Financials
The financials of CreditAccess Grameen provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
CreditAccess Grameen Profit and Loss Statements
The profit and loss statement of CreditAccess Grameen highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of CreditAccess Grameen .
CreditAccess Grameen Balance Sheet
The balance sheet presents a snapshot of CreditAccess Grameen ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
CreditAccess Grameen Cashflow Statements
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
CreditAccess Grameen Net Interest Margin (NIM)
CreditAccess Grameen Net Interest Margin (NIM) tells about the profitability earned by all NBFCs and financial institutions. It represents the income generated by the bank from the difference between the interest earned on loans and the interest paid on public deposits. Net Interest Margin (NIM) is a metric that monitors the profitability generated from a bank's lending activities.
CreditAccess Grameen Non-Performing Assets (NPA) Ratio
Non-Performing Assets (NPA) indicate the ratio of a bank's loans that are classified as non-performing. A lower NPA ratio reflects stronger asset quality and more effective risk management.
CreditAccess Grameen Capital Adequacy Ratio (CAR)
Capital Adequacy Ratio (CAR) is a metric to measure the bank's ability to absorb losses and still remain financially stable. A higher CAR shows that the bank is financially sound and can absorb potential losses.
CreditAccess Grameen Gross NPA
Gross NPA is the percentage of total non-performing loans before provisioning, while net NPA is the percentage after provisioning. Lower gross and net NPA ratios indicate better loan quality.
CreditAccess Grameen Net NPA Ratio
Net NPA is the actual losses a bank has incurred due to NPA accounts. Lower the NPA, better the banks can maintain stable income from interest on loans.
CreditAccess Grameen CASA Ratio
CASA ratio tells how much of a bank's total deposits are in both current and savings accounts.
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SEBI REGISTERED RESEARCH ANALYST REGISTRATION NUMBER: INH000015729Disclaimer: "Investments in securities are subject to market risks. Read all the related documents carefully before investing." Receiving registration from SEBI and certification from NISM does not assure the performance of the intermediary or guarantee returns to investors in any manner. Compliance Email: [email protected]
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