1779.80 -11.90 (-0.66%)

Near 52W Low

4,745 NSE+BSE Volume

NSE May 19, 2022 12:39 PM



Sundaram Finance Ltd.    
19 May 2022, 10:22AM
1779.80
-0.66%
SUNDARAM FINANCE LTD. - 590071 - Board to consider Final Dividend
BSE India
Sundaram Finance Ltd has informed BSE that a meeting of the Board of Directors of the Company has been convened on May 25, 2022, inter alia, to consider following:1. Approval of audited financial resultsforthe year ended March 31, 2022;2. Recommendation of Final dividend for the year 2021-22; and3. Fixing the book closure date under Regulation 42 for the 69th Annual General Meeting / Final Dividend.
Sundaram Finance Ltd.    
06 May 2022
1779.80
-0.66%
Sundaram Finance Ltd.    
03 May 2022
1779.80
-0.66%
default
Number of FII/FPI investors decreased from 173 to 150 in Mar 2022 qtr
Sundaram Finance Ltd.    
04 Apr 2022
1779.80
-0.66%
default
Sundaram Finance Ltd.    
03 Apr 2022
1779.80
-0.66%
Business Line
The mikeless kutcheris had served as a stepping stone for many youngsters
Sundaram Finance Ltd.    
31 Mar 2022
1779.80
-0.66%
Sundaram Finance Ltd.    
28 Mar 2022
1779.80
-0.66%
Sundaram Finance Ltd.    
08 Feb 2022
1779.80
-0.66%
default
Sundaram Finance Ltd.    
07 Feb 2022
1779.80
-0.66%
Sundaram Finance Ltd.    
07 Feb 2022
1779.80
-0.66%

Sundaram Finance declares Q3FY22 result:

  • Sundaram Finance Apr — Dec 2021 net profit at Rs. 605 crores as against Rs. 600 crores in Apr Dec 2020.
  • Disbursements for Apr — Dec 2021 up by 13% at Rs. 9,524 crores.
  • Stage 3 assets at 3.39% (3.45% as of 30 September 2021) and Net stage 3 assets at 2.09% (2.12% as of 30" September 2021)
  • ROA at 2.3% (2.2% in 9M FY21) and Capital Adequacy Ratio at 23.6% (19.8% in 9M FY21) 100% interim dividend (Rs. 10 per share) declared.
  • Disbursements for Apr - Dec 2021 recorded a growth of 13% to Rs. 9,524 crores as compared to Rs. 8,437 crores registered in the corresponding period of the previous year. Gross stage 3 assets as on December 31, 2021, stood at 3.39% with provision cover of 39% as against 3.45% as on September 30, 2021, with provision cover of 39%. Profit after tax for Apr - Dec 21 went up to Rs. 605 crores as against Rs. 600 crores in Apr -Dec 2020.
  • Disbursements for Q3 FY22 was at Rs. 3,843 crores as compared to Rs. 4,334 crores in Q3 FY21. Adjusting for the pandemic induced ECLGS scheme, disbursements in Q3 FY22 grew 3% over Q3 FY21. Disbursements for Apr - Dec 21 recorded a growth of 13% to Rs. 9,524 crores as against Rs. 8,437 crores in Apr - Dec 20. Adjusting for the pandemic induced ECLGS scheme, core business disbursements grew 26% in 9MFY22 compared to 9MFY21.
  • The assets under management stood at Rs. 29,796 crores as on 31% December 2021 as against Rs. 29,811 crores as on 30th September 2021.
  • Pursuant to RBI's notification on Resolution Framework 2.0 related of advances to customers, assets totalling Rs. 781 crores, about 2.68% of loan outstanding, were restructured during Apr - Dec 2021. The total restructured assets were Rs.2,089 crores, about 7.16% of loan outstanding, as on 31st December 2021.
  • Gross stage 3 assets as on 31st December 2021 stood at 3.39% with provision cover of 39% when compared to 3.45% with 39% provision cover as of 30th September 2021. Net stage 3 assets as of 31st December 2021 closed at 2.09% as against 2.12% as of 30th September 2021.
  • With a view to ensuring uniformity in the implementation of IRACP norms across all lending institutions, RBI vide its circular dated 12th November 2021 - "Prudential norms on Income Recognition, Asset Classification and Provisioning (IRACP) pertaining to Advances” has tightened the NPA norms for NBFCs with immediate effect. The Company has taken steps to comply with the changes for regulatory reporting, as applicable. The Company continues to prepare the financial results in accordance with the applicable Ind-AS guidelines and maintains adequate ECL provisions as per Ind AS 109.
  • Covid-impacted customer segments, in particular staff & route bus, tourist bus and school bus operators, tourist taxi operators and small market load CV operators are still struggling through the process of recovery based on the pandemic’s evolution and consequent actions to contain it. As per RBI’s circular of November 12, 2021, gross NPA was 7.71%, of which 4.06% was below 90 days past due as of Dec 31, 2021. Excluding this, gross NPA would have
    been 3.65% as against 3.85% as of Sep 30, 2021. The Company’s underlying business risk has not undergone any material change
  • Cost to income ratio closed at 30.13% in Apr — Dec 2021 as against 30.14% in Apr — Dec 2020.
  • The deposit base stood at Rs. 4,117 crores as on 31 December 2021, a net accretion of Rs.97 crores over 31% March 2021.

“While the Omicron variant was highly infectious, it has been relatively mild on hospitalisations and mortality, causing a rapid flattening of the curve in Wave 3 of the Covid pandemic. We expect Q4 to see recovery to normalcy which will enable pick-up in activity and credit offtake. We are well-poised to capture growth opportunities across all asset classes in Q4,” said Rajiv Lochan, Managing Director.

Result PDF

29 Votes:
Buy 65.52%
Sell 17.24%
Hold 17.24%
BUY
SELL
HOLD