U GRO Capital recently released its financial year 2023 results. Could you give us a brief overview of the company's performance during this period?
I am pleased to share that U GRO Capital had a successful financial year 2023. We witnessed robust growth across various financial metrics. Our AUM crossed INR 6,081 Cr (as of Mar 23), up 105% year-on-year. Our Gross loan disbursements reached an all-time high of INR 7,200 Cr for FY23, growing by 129% compared to the previous fiscal year. We have witnessed a steady improvement in asset quality, with the net nonperforming assets (NNPAs) ratio declining to 0.9% on the total AUM. This reflects our disciplined credit underwriting and proactive risk management practices. Our Net Total Income and Profit Before Tax has also exhibited strong growth and stood at INR 390.5 Cr and INR 83.8 Cr, respectively. This growth was driven by higher loan volumes and improved margins through L-a-a-S model which was further supported by increasing operational leverage.
U GRO Capital recently raised equity funding. Could you provide us with some details on this funding round, including the amount raised, key investors, and how the funds will be utilized?
Esta historia es de la edición June 2023 de Outlook Business.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición June 2023 de Outlook Business.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
'Automation is Redefining Efficiency and Precision in Jewellery Manufacturing'
Increasing brand consciousness and awareness among consumers is helping expand the organised jewellery retail industry. MP Ahammed, chairman of Malabar Group, discusses prominent trends in the jewellery industry
BATTLE TO WIN THE AI RACE
In Supremacy, Parmy Olson tells the astonishing and behind-the-scenes story of the battle between the world’s two leading artificial intelligence firms, OpenAl and DeepMind and the continuing rivalry of its founders Sam Altman and Demis Hassabis respectively
A LEADER WHO EMPOWERS
Anshul Arzare, MD and CEO of YES SECURITIES, wants to ensure a workplace where employees not only contribute to the company's vision but also feel content
EV Unplugged
Electric vehicles are crucial to India’s climate change plan. But reliance on China for imports and technology constraints remain hurdles the sector needs to overcome
Every Lamborghini Owner is a Brand Ambassador
Regional director of Automobili Lamborghini, Francesco Scardaoni, talks to Prachi Khanna about the brand’s approach to fostering a sense of community among its vehicle owners. Edited excerpts
NO ZEST FOR ZED
A government initiative to green MSMEs is not finding enough takers
SMALL PLANTS, BIG TROUBLE
Climate-triggered stress is placing an unprecedented burden on small businesses. But a lack of access to climate aid hinders the sector's ability to adopt greener methods
'We Think About the Rider More Than Any Other Company
Rapido co-founder Aravind Sanka talks to Neeraj Thakur and Deepsekhar Choudhury about how flexibility and fair pay helped his company disrupt the Ola-Uber duopoly. Edited excerpts
LABOUR PANGS
Rising cost of living in a fast-growing economy is making workers restless
'Hustle is No Virtue'
It has become fashionable to talk about the verb “hustle” these days, especially in professional settings.
