Satin Creditcare Network Ltd recorded a 67.3% year-on-year (YoY) decline in net profit, which dropped to ₹41 crore in Q4 FY25 from ₹125.3 crore in Q4 FY24. The company’s net interest income (NII) also declined by 10%, at ₹324.2 crore, from ₹359.8 crore in the corresponding quarter of the previous fiscal year.
The capital adequacy ratio (CAR) stood at a healthy 25.9% as of March 31, 2025. The consolidated book value per share was ₹230, reflecting a stable financial position.
Satin Creditcare Network maintained a good liquidity position, where balance sheet liquidity and available sanction of ₹1,217 crore and ₹1,243 crore as of March 31, 2025. On-book borrowings were ₹7,887 crore, with debt-to-equity ratio at 2.77x.
The composition of borrowing was diversified, with 63% from banks, 20% from foreign funds, 10% from NBFCs, and 6% from development finance institutions (DFIs). A whopping 65% of the firm’s borrowings were on a floating rate, basking in strong lender confidence, as evidenced by 79 active lenders, of which 14 were new additions in FY25.
Satin’s quality of assets too saw skewed results, with on-book gross non-performing assets (GNPA) standing at 3.7% (₹323 crore). Provision, nonetheless, stood at ₹288 crore, which is far in excess of what RBI required at ₹144 crore. Stage 3 coverage ratio too improved to 62.3% in March 2025, from 60.4% last year during the same month.
The company also recovered ₹38 crore of previous write-offs in FY25. Quarterly disbursements drove assets under management (AUM) growth, up 5% quarter-on-quarter and 7% year-on-year. Disbursements in FY25 exceeded FY24, reflecting a high lending year.
Portfolio at risk (PAR) metrics reflected considerable improvement, with PAR 1 falling 192 basis points to 4.9% in March 2025 from 6.8% in September 2024, reflecting an improving trend that extended through to November 2024.
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