Finance (including NBFCs) Shriram City Union Finance declares Q3FY22 result: Disbursements Rs 8398 Cr Highest-ever lending performance Cross-sell Initiatives After a successful foray in Andhra & Telangana, SHFL has begun cross-selling in Gujarat Assets Under Management Rs 36,853 Cr YoY growth of 16.3% Expansion of Digital Initiatives Express Two Wheeler loans Contactless Personal Loans Contactless credit appraisal Online Fixed Deposit program Collection Efficiency In excess of 100% Improved Collection Efficiency through the Quarter Loan disbursements of Rs. 7,630 Cr in Q3FY22 versus Rs. 6,197 Cr in Q3FY21 and Rs. 6,423 Cr in Q2FY22. YoY growth: 23% and sequential growth of 19%. These have been our best ever quarterly disbursements. Assets Under Management as on 31st Dec 2021 are Rs. 32,247 Cr versus Rs. 30,425 Cr as on 30th Sep 2021 and Rs. 28,546 Cr as on 31st Dec 2020. AUM growth: 13% YoY and 6% QoQ. Profit after Tax at Rs. 293 Cr. was the highest in eight quarters. Pre-provision profits at Rs. 606 Cr. were the highest in more than three years. As at Dec’21, loans worth Rs. 315 Cr. have been restructured under RBI’s COVID-19 Resolution Framework, translating to less than 1% of AUM. Covid-related provisioning at the end of Q3FY22 stood at Rs. 511 Cr. Fresh borrowings of Rs. 5,660 Cr. were raised in Q3 (versus Rs. 3,950 Cr. in Q2) with door-to-door maturity of 55 months. Fixed Deposit base stood at Rs. 6,626 Cr., a growth of 29% YoY. Liquidity back up in form of free cash & bank balances stood at Rs. 5,027 Cr. Sanctioned and Undrawn limits stood at Rs. 939 Cr. Comfortable ALM position with nil negative mismatch on cumulative basis. Net Worth stood at Rs. 8,590 Cr. Asset yields at 21.72%, up from 20.53% in Q2FY22 and 21.11% in Q1FY22. Net Interest Margin improved to 13.44% in Q3FY22 as against 13.09% in Q3FY21 and 12.91% in Q2FY22 In line with RBI circular RBI/2021-22/125 DOR/STR/REC.68/21.04.048/2021-22 dated November 12, 2021 on Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances – Clarifications, the Company has revised its process of NPA classification. As a consequence, the reported Profit before Tax for the Quarter and Nine months ended December 31, 2021 is lower by Rs. 97.59 crores. Reported GNPA as at Dec 2021 is 7.30% as per the RBI Circular of 12th Nov 2021. GNPA % as per earlier logic would have been at 6.61 % as compared to 6.86% in Q2FY22. Credit costs were within tolerance levels at 2.79% Collection Efficiency was at 103% in the Quarter. The Company’s Board of Directors, in its meeting held on 13th December 2021 had approved the amalgamation of the Company with M/s Shriram Transport Finance Co. Ltd. The Scheme of Amalgamation which carries the appointed date of 1 st April 2022 now awaits approval from regulatory authorities and the Company’s shareholders Result PDF