Ugro Capital surges 4% after Q2 AUM increases

At 12:59 pm, the stock was trading at Rs 284.75,up by 4.44 percent from the previous day’s close. 4 lakh shares exchanged hands which are higher than the stock’s weekly average of 2 lakh.

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Ugro Capital’s shares went up by 4 percent on October 11 after the company announced a 73 percent Year-on-Year (YoY) increase in its Assets Under Management (AUM).

At 12:59 pm, the stock was trading at Rs 284.75, up by 4.44 percent from the previous day’s close. Four lakh shares exchanged hands which are higher than the stock’s weekly average of 2 lakh.

In a post market hour exchange filing on October 10, the NBFC company updated its financial performance numbers in the second quarter of FY24.

Overall AUM of the company rose to Rs 7,590 crore, posting a 12 percent increase from the previous quarter. Gross loan origination for the quarter increased to Rs 2500 crore increasing by 52 percent YoY. Similarly Net Loan Origination increased to Rs 1470 crore rose by 34 percent YoY.

The company also reported its collection efficiency improved to 97.6 percent in the quarter, registering a quarterly improvement of 80 basis points (bps). It’s Off-book AUM proportion increased to 45 percent in the quarter compared to 43 percent in the previous quarter. The company said its own its way to achieve its target of 50 percent Off-Book AUM proportion.

In terms of debt, Ugro Capital reported its total debt growing to Rs 3800 crore increasing by 67 percent YoY with active lenders reducing to 60 from 67.

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In its June quarterly results, the company’s revenue increased to Rs 213.27 crore rising by 79.56 percent YoY. Its profit rose to Rs 25.24 crore increasing by  243.7 percent YoY. Its EBITDA also increased to Rs 135.88 crore increasing by 108.28 percent.

Ugro Capital is mainly engaged in lending loans to Micro, Small & Medium Enterprises (MSME). It provides supply chain financing, unsecured business loans machinery loans and micro enterprise loans. The company provides loans in nine sectors which include healthcare, education, auto companies, chemicals and food processing sector.
Shares of Ugro Capital have surged more than 77 percent in the last 6 months.

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