Satin Creditcare Network rises on crossing Rs 10,000 crore AUM on standalone basis
Satin Creditcare Network is currently trading at Rs. 259.45, up by 7.05 points or 2.79% from its previous closing of Rs. 252.40 on the BSE.
The scrip opened at Rs. 257.15 and has touched a high and low of Rs. 266.05 and Rs. 256.50 respectively. So far 36582 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 283.65 on 11-Jan-2024 and a 52 week low of Rs. 116.25 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 266.05 and Rs. 236.45 respectively. The current market cap of the company is Rs. 2841.87 crore.
The promoters holding in the company stood at 36.06%, while Institutions and Non-Institutions held 17.85% and 46.09% respectively.
Satin Creditcare Network has crossed Rs 10,000 crore Assets Under Management (AUM) on standalone basis. This accomplishment underscores the company’s customer centric approach, robust risk management practices and innovative credit offerings tailored to meet the diverse needs of its clients. The AUM of the company as on December 31, 2023 was Rs 9,811 crore.
The company has witnessed strong business momentum by showing a strong rebound after disruptions caused by the Covid pandemic by taking proactive measures and strategies. It has made net customer additions of 6.3 lakh as of 9M FY24 and grown by 35% YoY, thereby crossing its significant 3 million clientele mark. The company has disbursed Rs 2,698 crore during Q3 FY24 as against Rs 2,202 crore and Rs 1,980 crore during Q2 FY24 and Q1 FY24 respectively. In Q3 FY24, the company opened 32 new branches, leading to a total network of 1,165 branches spread across 24 states and union territories.
Satin Creditcare Network is one of the largest Microfinance Institutions (MFI) in Northern India, and is the 3rd largest MFI in the country.
