Conference Call with CreditAccess Grameen Management and Analysts on Q1FY21 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with CreditAccess Grameen Management and Analysts on Q4FY20 and Full Year Earnings Performance and Outlook. Listen to the full earnings transcript.
Call Participants: Mr. Udaya Kumar Hebbar - MD & CEO, Mr. Diwakar B R - Director, Finance & CFO, Mr. Nilesh Dalvi - Vice President, Investor Relations
Introductory Remarks from Udaya Kumar Hebbar
Good morning to everyone! I thank you for taking your time and joining us today on our full year and fourth quarter FY20 financial performance. We recorded strong business growth in FY20 with standalone loan growth portfolio up 38% YoY to Rs 896 crore and borrower base up 18% YoY to Rs 29.1 lakh owing to large number of branches opened during the year. This was further augmented by MMFL acquisition, leading to consolidated loan portfolio growth of 67.6% YoY to INR 11,996 crore and 64.2% YoY growth in our borrower base to 40.1 lakh.
Our consolidated joint network now stands at 1,393 branches which included 923 CAGL branches and 464 MMFL branches. With this transaction, we are the largest microfinance company in India, with leadership position in mature microfinance states of Karnataka, Maharashtra and Tamil Nadu, whilst building our presence across pan India. Our expanded branch network, seasoned manpower and experienced management team will help us drive our growth over coming years.We have now achieved deeper presence in our end markets.
FY19-20 witnessed the Covid-19 pandemic affecting India's macroeconomic activities. we took necessary measures to ensure the well-being and safety of our employees and customers, while abiding by all regulatory guidelines. We continued to maintain customer connect and proactive communication. We earmarked INR 5 crore funds under CSR to provide COVID-19 related support in form of supply of PPE kits, medical kits and grocery kits to local police stations, municipal or Asha workers. Our employees have contributed INR 53.6 lakh to PM CARES Fund as token of their solidarity.
With over 98% of our branches being operational with over 90% staff as on date, we are looking forward to resuming our collections & disbursements from 1st June onwards. Over 70% of our customers are positive about not opting for further moratorium, and about 20% of them wanted a few more weeks to start the transactions. This leaves close to 10% of our borrowers who might opt for further moratorium.
We are predominantly present in rural markets which have always displayed strong resilience to external disturbances. Majority of our customers are engaged in essential activities, which have been allowed to function post 20th April. Further, various relief measures were taken by the government to support people at the bottom of the pyramid. Hence, we believe our customers to display faster recovery as regards their business activities and economic transactions.
Our near-term focus will be on ensuring a healthy liquidity position and timely collections from the field, which will help us provide additional financial support to our borrowers. All our customers have been supportive. We have received moratorium from 60% of lenders during the first phase of moratorium and we are now working with all lenders for further moratorium as well as spending lines during the second phase of moratorium. We have raised over Rs 22 crores during Q4 at a waited over cost of 9% interest rate to meet over growth needs. We have drawn about Rs 425 crores in May from various banks at a leverage interest rate of 8%.
Further, we are working with various domestic lenders totalling Rs 1,040 crores and various foreign lenders totaling Rs 457 crore which we expect to draw results in June, July and August. With all our lenders supporting us, we are confident of raising funds from domestic and international sources in the coming months. With our robust operating model, proven execution capabilities, strong customer relationships and strong balance sheet with continued support from lenders, we are well-positioned to demonstrate faster recovery and get back on our growth trajectory.
