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Add CreditAccess Grameen Ltd For Target Rs.1,100 By Emkay Global Financial Services We downgrade CREDAG to ADD from BUY with revised downwards TP of Rs1,100 (from Rs1,600). Company reported ~51% earning miss with PAT at Rs1.9bn/RoA at 2.7%, primarily due to sharp growth slowdown and stress flow in MFI portfolio with GNPA ratio (60DPD+) up by 98bps QoQ to 2.4% in 2Q. As per the management, bulk of the stress has come from lower vintage customers with 4+ lenders due to new MFIN guardrails, localized disruptions, and seasonal floods. We believe some stress relief should ideally...
Add CreditAccess Grameen Ltd For Target Rs.1,100 By Emkay Global Financial Services
Add CreditAccess Grameen Ltd For Target Rs.1,100 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-11-13 12:49:49 pm
Add CreditAccess Grameen Limited For Target Rs 1,175 By Yes Securities Ltd Earnings outlook uncertain As PAR increases materially, Management cuts Growth and RoE guidance significantly CREDAG’s PAT for Q2 FY25 was substantially below expectations on account of significant spike in the credit cost (6.5% v/s estimate of 3.4%). Due to meaningful dip in collection efficiency (excl arrears at 96.3% v/s 97.8% in preceding quarter), the overall PAR and 0-60 dpd bucket increased by 240 bps and 140 bps on sequential basis, leading to higher provisions (early rec...
Add CreditAccess Grameen Limited For Target Rs 1,175 By Yes Securities Ltd
Add CreditAccess Grameen Limited For Target Rs 1,175 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-10 11:30:24 am
Buy CreditAccess Grameen Ltd For Target Rs. 1,800 By Emkay Global Financial Services Election, heat wave-impact disrupt asset quality CREDAG has reported moderation in GLP growth at 21% YoY as well as sharp rise in GNPA ratio by 28bps QoQ to 1.5% in 1Q which was mainly due to transitory impact of low rainfall during last year, followed by a severe heat wave over Apr-May ’24 and general elections-related disruption in a few states. This led to sharp jump in LLP to 280bps, which was though largely offset by higher other income/lower opex, helping it deliver in-line pro...
Buy CreditAccess Grameen Ltd For Target Rs. 1,800 By Emkay Global Financial Services
Buy CreditAccess Grameen Ltd For Target Rs. 1,800 By Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-08-09 03:02:49 pm
Buy CreditAccess Grameen Ltd For Target Rs.1,565By Geojit Financial Services Ltd Operational efficiency  to support valuation... CreditAccess Grameen Ltd. (CAGL) is one of the leading microfinance NBFCs in India with a strong focus on group lending and retail finance. The majority of its operations in South India * The Gross Loan Portfolio (GLP) grew by 20.6%YoY, reaching Rs.26,304cr, while the number of active borrowers increased by 12.7%YoY. * Advances are expected to grow at a CAGR of 23% during FY25-26, supported by strong customer additions.   *...
Buy CreditAccess Grameen Ltd For Target Rs.1,565By Geojit Financial Services Ltd
Buy CreditAccess Grameen Ltd For Target Rs.1,565By Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
2024-08-03 02:04:09 pm
Buy CreditAccess Grameen Ltd For Target Rs.1,800 by Yes Securities Performance better than expectations; PAR/credit cost increase largely on expected lines Notwithstanding softer-than-estimated disbursements/growth, CREDAG’s NII/PPOP/PAT were 2%/3%/5% ahead of our expectations aided by stable spreads, higher insurance income and lesser-than-forecasted credit cost. Asset quality movement was largely on expected lines with 50 bps decline in collection efficiency, 120 bps of PAR accretion and 20 bps increase in PAR 90 (after usual write-off of 40 bps)....
Buy CreditAccess Grameen Ltd For Target Rs.1,800 by Yes Securities
Buy CreditAccess Grameen Ltd For Target Rs.1,800 by Yes Securities
Source: Yes Securities Ltd.
2024-07-22 11:26:35 am
Buy CreditAccess Grameen Limited Ltd. For Target Rs.1,950 - Yes Securities Sustaining Growth & RoE A steady and strong performance CREDAG delivered a 3%/2% NII/PPOP beat on stronger than expected disbursements (4% above estimate) and AUM growth (up 14% qoq/27% yoy). The PPOP beat was after adjusting for the Rs260mn provisions made towards long-term incentives and one-time special bonus for employees celebrating 25th year of operations. Portfolio spread was stable at 11.2% despite reduction in lending rates by 50 bps from Dec. The funding cost stabilized wi...
Buy CreditAccess Grameen Limited Ltd. For Target Rs.1,950 - Yes Securities
Buy CreditAccess Grameen Limited Ltd. For Target Rs.1,950 - Yes Securities
Source: Yes Securities Ltd.
2024-06-24 12:19:12 pm
Buy CreditAccess Grameen for Target Rs 1,864 by Elara Capitals Cautiously optimistic Steady margins offset provisions spike; earnings intact With spike in credit costs getting offset largely by steady NIMs, Credit Access Grameen’s (CREDAG IN) PAT was in line with our expectations in Q4FY24 (reported INR 3.97bn versus our estimates of INR 3.94bn) based on strong core. However, both opex and credit costs stood elevated due to lumpy employee incentives and extra provision buffers, geographic risks and customer vintage. Consequently, cost-income sur...
Buy CreditAccess Grameen for Target Rs 1,864 by Elara Capitals
Buy CreditAccess Grameen for Target Rs 1,864 by Elara Capitals
Source: Elara Capital
2024-06-04 04:47:09 pm
Buy CreditAccess Grameen Ltd. For Target Rs.1,725 - Motilal Oswal Financial Services Guidance on credit costs raised but can still deliver healthy RoA/RoE -      CreditAccess Grameen (CREDAG) delivered a healthy operational performance in 4QFY24, with 34% YoY growth in PAT to ~INR3.97b (inline). 4QFY24 NII grew ~42% YoY to ~INR8.8b and PPoP grew 36% YoY to ~INR6.8b. FY24 PAT grew ~31% YoY to ~INR5.1b. -      The cost-income ratio (CIR) was broadly stable QoQ and YoY at ~30%. Opex included ~INR260m toward long-t...
Buy CreditAccess Grameen Ltd. For Target Rs.1,725 - Motilal Oswal Financial Services
Buy CreditAccess Grameen Ltd. For Target Rs.1,725 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-06-04 11:04:36 am
CreditAccess Grameen Limited: Fourth Quarter & Full Year FY23-24 Results CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770, ‘CA Grameen’), the country’s largest Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI), today announced its audited financial performance for the fourth quarter and financial year ending 31 March 2024.   Business Highlights: Q4 FY24   GLP grew by 27.0% YoY from INR 21,031 crore to INR 26,714 crore *  Borr...
CreditAccess Grameen Limited: Fourth Quarter & Full Year FY23-24 Results
CreditAccess Grameen Limited: Fourth Quarter & Full Year FY23-24 Results
Source: PR Agency
2024-05-08 12:43:52 pm
Buy CreditAccess Grameen Ltd For Target Rs. 1,985 - Motilal Oswal Financial Services Earnings in line; higher credit costs offset by lower opex NIM stable QoQ, but asset quality deteriorates due to TN floods * CreditAccess Grameen (CREDAG) delivered a healthy operational performance in 3QFY24, with ~64% YoY growth in PAT to ~INR3.5b. NII jumped 49% YoY to ~INR8b, with a stable NIM (reported) of ~13.1%. * PPoP grew 59% YoY to ~INR6b, with scale benefits and positive operating leverage resulting in a cost-income ratio (CIR) of ~30% (PY: ~36%). Even with ~50bp reduction...
Buy CreditAccess Grameen Ltd For Target Rs. 1,985 - Motilal Oswal Financial Services
Buy CreditAccess Grameen Ltd For Target Rs. 1,985 - Motilal Oswal Financial Services
Source: motilal oswal financial services Ltd
2024-05-01 11:52:48 am
Buy CreditAccess Grameen Limited For Target Rs. 1,950 By Yes Securities A Sturdy Show Performance remains strong CREDAG’s performance remained strong in Q3 FY24 with AUM/NII growth in-line with expectations and PPOP being 4% higher than our estimate reflecting further productivity gains. There was some PAR and credit cost increase which is transient, as were largely driven by delinquencies from TN floods in Dec which have significantly normalized in January. Disbursements were impacted in November on account of CBS upgrade, but business/customer acqui...
Buy CreditAccess Grameen Limited For Target Rs. 1,950 By Yes Securities
Buy CreditAccess Grameen Limited For Target Rs. 1,950 By Yes Securities
Source: Yes Securities Ltd.
2024-03-27 12:21:49 pm
Buy CreditAccess Grameen Ltd. For Target Rs.1,985 By Motilal Oswal Financial Services Earnings in line; higher credit costs offset by lower opex NIM stable QoQ, but asset quality deteriorates due to TN floods CreditAccess Grameen (CREDAG) delivered a healthy operational performance in 3QFY24, with ~64% YoY growth in PAT to ~INR3.5b. NII jumped 49% YoY to ~INR8b, with a stable NIM (reported) of ~13.1%. PPoP grew 59% YoY to ~INR6b, with scale benefits and positive operating leverage resulting in a cost-income ratio (CIR) of ~30% (PY: ~36%). Even with ~50bp reduction in ...
Buy CreditAccess Grameen Ltd. For Target Rs.1,985 By Motilal Oswal Financial Services
Buy CreditAccess Grameen Ltd. For Target Rs.1,985 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-03-26 10:23:47 am
CreditAccess Grameen Touches Historic Mark of INR 25,000 Crore AUM CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770, ‘CA Grameen’), the country’s largest Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI) crosses the landmark of INR 25,000 crore AUM in the 25th year of inclusive journey. The AUM as on 31st March 2023 stood at INR 21,031 crore. The AUM growth is in line with the annual growth guidance of 24-2...
CreditAccess Grameen Touches Historic Mark of INR 25,000 Crore AUM
CreditAccess Grameen Touches Historic Mark of INR 25,000 Crore AUM
Source: PR Agency
2024-02-26 03:21:34 pm
CreditAccess Grameen surges on crossing AUM of Rs 25,000 crore CreditAccess Grameen is currently trading at Rs. 1478.05, up by 7.70 points or 0.52% from its previous closing of Rs. 1470.35 on the BSE. The scrip opened at Rs. 1477.15 and has touched a high and low of Rs. 1518.00 and Rs. 1475.80 respectively. So far 16095 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1794.40 on 11-Dec-2023 and a 52 week low of Rs. 876.10 on 31-Mar-2023. Last one week high and low of the sc...
CreditAccess Grameen surges on crossing AUM of Rs 25,000 crore
CreditAccess Grameen surges on crossing AUM of Rs 25,000 crore
Source: Accord Fintech
2024-02-26 03:01:26 pm
CreditAccess Grameen strengthens its Core Banking Solution by implementing Nagarro`s Temenos Solutions CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770, ‘CA Grameen’), the country’s largest Non-Banking Financial Company-Micro Finance Institution (NBFC- MFI), in collaboration with Nagarro has undergone a successful transformation of its Core Banking Solution (CBS) through the implementation of the advanced Temenos platform. The Temenos solution provides CA Grameen with scalability & agility to its microfinance operating model with flexible repayment options and th...
CreditAccess Grameen strengthens its Core Banking Solution by implementing Nagarro`s Temenos Solutions
CreditAccess Grameen strengthens its Core Banking Solution by implementing Nagarro`s Temenos Solutions
Source: PR Agency
2024-01-31 05:58:37 pm
CreditAccess Grameen strengthens its Core Banking Solution by implementing Nagarro’s Temenos Solutions CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770, ‘CA Grameen’), the country’s largest Non-Banking Financial Company-Micro Finance Institution (NBFC- MFI), in collaboration with Nagarro has undergone a successful transformation of its Core Banking Solution (CBS) through the implementation of the advanced Temenos platform. The Temenos solution provides CA Grameen with scalability & agility to its microfinance operating model with flexible repayment options an...
CreditAccess Grameen strengthens its Core Banking Solution by implementing Nagarro’s Temenos Solutions
CreditAccess Grameen strengthens its Core Banking Solution by implementing Nagarro’s Temenos Solutions
Source: PR Agency
2024-01-31 05:49:33 pm
Buy CreditAccess Grameen For Target Rs. 1,986 - Elara Capital Dream run continues; Buy Recalibration of lending rates; provisions spike yet earnings intact Despite continued improvement in operating systems, the flood impact in the key Tamil Nadu State (20% of loans) and downward repricing of lending rates of 50bp cut across products, Credit Access Grameen (CREDAG IN) PAT was in line with our expectations in Q3FY24 (reported INR 3.5bn vs our estimates of INR 3.6bn) based on strong core. This was led by robust growth on borrower addition (9MFY24 at...
Buy CreditAccess Grameen For Target Rs. 1,986 - Elara Capital
Buy CreditAccess Grameen For Target Rs. 1,986 - Elara Capital
Source: Elara Capital
2024-01-29 11:43:37 am
Buy CreditAccess Grameen Ltd For Target Rs.1,986 - Elara Capital Dream run continues; Buy Recalibration of lending rates; provisions spike yet earnings intact Despite continued improvement in operating systems, the flood impact in the key Tamil Nadu State (20% of loans) and downward repricing of lending rates of 50bp cut across products, Credit Access Grameen (CREDAG IN) PAT was in line with our expectations in Q3FY24 (reported INR 3.5bn vs our estimates of INR 3.6bn) based on strong core. This was led by robust growth on borrower addition (9MFY24 at...
Buy CreditAccess Grameen Ltd For Target Rs.1,986 - Elara Capital
Buy CreditAccess Grameen Ltd For Target Rs.1,986 - Elara Capital
Source: Elara Capital
2024-01-27 11:35:58 am
Buy CreditAccess Grameen Ltd For Target Rs.1,960 By Emkay Global Financial Services Post the strong Q2 results, CREDAG’s stock should be largely retraced to 3Mago levels post this week’s 11%+ move. We believe the stock will see continued momentum, given 2H being seasonally strong for the MFI sector, and hence also for CREDAG. Additionally, the company has guided for the continued strong margin/RoA delivery, while building healthy contingent buffers to withstand any future asset-quality shocks. We believe south-dominant MFI players including CREDAG will be better-...
Buy CreditAccess Grameen Ltd For Target Rs.1,960 By Emkay Global Financial Services
Buy CreditAccess Grameen Ltd For Target Rs.1,960 By Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-10-29 10:22:13 am
Buy CreditAccess Grameen Ltd For The Target Price Rs.1,389 - Investec Ltd Ticks all boxes | Guidance upgradedCREDAG continues to post strong numbers ? a beat of ~10% to our PAT estimate; RoA/RoE of 5.6%/25%; AUM growth of 3% QoQ, 36% YoY; NIM expansion (10bps QoQ) and asset quality improvement (GNPA declined 10bps QoQ). Its business has further strengthened with continued geographic expansion (entered AP and TL) and liabilities diversification. It will be scaling new initiatives around secured MSME, 2W, gold and affordable housing which will further de-risk t...
Buy CreditAccess Grameen Ltd For The Target Price Rs.1,389 - Investec Ltd
Buy CreditAccess Grameen Ltd For The Target Price Rs.1,389 - Investec Ltd
Source: Investec Ltd
2023-10-26 02:37:42 pm
Buy CreditAccess Grameen Ltd For The Target Price Rs.1,389 - CLSA India Pvt Ltd Positive outlookManagement increased ROE guidance; we raise our target price to Rs1,800CA Grameen reported a 9% beat of our net profit estimate for 2Q24 driven by c.35% AUM growth, a steady NIM and run-rate for credit costs. Optically, PAT was flat QoQ due to lower assignment income. The company continues its strong customer acquisition strategy, acquiring 300k+ new customers (gross) during the quarter. It also entered new states (AP and Telangana) as part of its expansion strategy. The c...
Buy CreditAccess Grameen Ltd For The Target Price Rs.1,389 - CLSA India Pvt Ltd
Buy CreditAccess Grameen Ltd For The Target Price Rs.1,389 - CLSA India Pvt Ltd
Source: CLSA India Pvt Ltd
2023-10-26 02:31:02 pm
Buy CreditAccess Grameen Ltd For Target Rs.1,825 By Yes Securities Strong performance was on expected lines; RoE guidance upgraded to a higher normal CREDAG?s AUM and NII growth were ahead of expectations while PAT came in-line on account of marginally higher opex and credit cost. For third quarter in a row, the co. delivered RoA/RoE of 5.5%+/24%+. Key reasons behind CREDAG?s stronger-thanpeer profitability despite lower lending rates are 1) better customer retention/engagement (naturally leading to higher avg o/s per borrower), 2) deft opex/productivi...
Buy CreditAccess Grameen Ltd For Target Rs.1,825 By Yes Securities
Buy CreditAccess Grameen Ltd For Target Rs.1,825 By Yes Securities
Source: Yes Securities Ltd
2023-10-25 12:11:59 pm
Buy CreditAccess Grameen Ltd For Target Rs.1,960 - Emkay Global Financial Services CREDAG maintained its strong earnings performance with in-line PAT at Rs3.5bn, up 98% YoY, and RoA of 5.6% on the back of strong growth (36% YoY) and margin expansion (+110bps YoY/10bps QoQ). Going ahead, CREDAG expects growth to remain strong led by expansion in customer-count and ticketsize. From the medium-term perspective, Company expects GLP CAGR at 24- 25%, NIM moderation to 12.6-12.7% from the current ~13%, and steady increase in LLP including counter-cyclical contingent provision buil...
Buy CreditAccess Grameen Ltd For Target Rs.1,960 - Emkay Global Financial Services
Buy CreditAccess Grameen Ltd For Target Rs.1,960 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-10-24 11:14:04 am