Non-banking Financial company Sundaram Finance announced Q4FY23 & FY23 results: Sundaram Finance logs highest-ever disbursements of Rs 20,966 crore, 58% over FY22 AUM grows 17% to Rs 34,552 crore Net profit for FY23 up by 20% at Rs 1,088 crore Continued improvement in asset quality with Gross Stage 3 assets at 1.66% (2.19% as of March 31, 2022) and Net Stage 3 assets at 0.86% (1.07% as of March 31, 2022) Disbursements for Q4FY23 were up by 40% over Q4FY22 and profits after tax for Q4FY23 were up by 6% to Rs 316 crore from Rs 299 crore in Q4FY22 ROA at 2.8% (2.5% in FY22) and Capital Adequacy Ratio at 22.8% (24.4% in FY22) 150% final dividend (Rs 15 per share) declared “We have re-established our pre-Covid growth trajectory in FY23 while improving asset quality to our traditional standards. Assets under management grew by 17%, gross stage 3 assets recovered to 1.66% with net stage 3 assets at 0.86% and profits after tax recorded a 20% growth to Rs 1,088 crore. Our group companies in asset management, general insurance, and home finance continued to perform strongly. As we look ahead, we remain steadfast in executing our balanced & time-tested approach of measured growth with best-in-class asset quality and consistent profitability," said Harsha Viji, Executive Vice Chairman. “It has been a satisfying year of Growth with Quality and Profitability powered by our people, processes, and technology. We added over 2,500 people to our team, opened 62 branches, and rolled out a number of technology, digital & data-powered offerings aimed at significantly improving the productivity of our staff and enhancing the experience of our customers. Looking ahead, as inflation eases and economic activity continues to gather pace, global factors notwithstanding, we expect growth in the economy to sustain. Team Sundaram is geared up to leverage the foundation laid in FY23 to extend our market share across asset classes & geographies while delivering the Sundaram experience to our customers and other stakeholders,” said Rajiv Lochan, Managing Director. Result PDF