Poonawalla Fincorp's Remarkable Journey

 Poonawalla Fincorp Limited, under the dynamic leadership of Mr. Abhay Bhutada, has marked a significant milestone in the non-banking financial sector with its outstanding performance in the fiscal year ending March 31, 2024. The company's audited financial results for the fourth quarter of FY24 depict an extraordinary story of growth and resilience in a challenging economic landscape.

Abhay Bhutada MD


Driving Forces Behind the Success

Exceptional Disbursement and Asset Growth

Poonawalla Fincorp achieved its highest ever quarterly disbursement of ₹9,688 crore, reflecting a remarkable 52% year-on-year increase and an 11% quarter-on-quarter surge. This achievement underscores the company's robust lending practices and its unwavering commitment to meeting the diverse financial needs of consumers and MSMEs.

The company's Assets Under Management (AUM) soared to ₹25,003 crore, marking a substantial 55% year-on-year growth and a commendable 14% quarter-on-quarter rise. This significant expansion in AUM reflects Poonawalla Fincorp's strong market position and its ability to capture opportunities in a rapidly evolving financial landscape.

Also Read: Who is Abhay Bhutada?

Superior Asset Quality

Poonawalla Fincorp maintained superior asset quality with its Gross Non-Performing Assets (NPA) at 1.16%, demonstrating a reduction of 28 basis points year-on-year and 17 basis points quarter-on-quarter. Similarly, the Net NPA stood at 0.59%, witnessing a decline of 19 basis points year-on-year and 11 basis points quarter-on-quarter. These impressive figures reflect the company's prudent risk management practices and its focus on maintaining a healthy loan portfolio.

Profitability Milestones

The company achieved its highest ever yearly Profit After Tax (PAT) of ₹1,027 crore in FY24, representing a remarkable 83% year-on-year increase. Additionally, the quarterly PAT reached ₹332 crore, marking a substantial 25% quarter-on-quarter growth. This stellar performance underscores Poonawalla Fincorp's strong financial position and its ability to deliver consistent value to its stakeholders.

Capital Adequacy and Liquidity

Poonawalla Fincorp maintained robust capital adequacy, with the Capital Adequacy Ratio standing at 33.8%. Moreover, the company's liquidity buffer reached ₹3,932 crore, highlighting its strong liquidity position and its ability to navigate through market uncertainties effectively.

Also Read: Unveiling the Top Chartered Accountants in India and Their Staggering Net Worth

A Visionary Leader

Mr. Abhay Bhutada, MD of Poonawalla Fincorp, has been instrumental in steering the company towards unprecedented growth and success. His strategic vision, coupled with a relentless pursuit of excellence, has positioned Poonawalla Fincorp as a thought leader in the lending space.

Reflecting on the company's remarkable performance, Mr. Bhutada stated, "I feel elated and proud of the last 3 years' journey, to spearhead the biggest transformation of Poonawalla Fincorp that the NBFC space has ever witnessed. Our rigor and execution excellence have ensured that we have continuously outperformed and given consistent superior performance."

Emphasis on Customer-Centricity

Poonawalla Fincorp places a strong emphasis on customer-centricity, striving to understand and address the evolving needs of its diverse customer base. Through personalized financial solutions and efficient customer service, the company aims to foster long-term relationships built on trust and transparency.

Commitment to Innovation

Innovation lies at the heart of Poonawalla Fincorp's operations, driving continuous improvement and adaptation to changing market dynamics. The company leverages technology and data analytics to enhance its risk management practices, streamline processes, and deliver seamless digital experiences to its customers.

Abhay Bhutada


Corporate Social Responsibility (CSR) Initiatives

Poonawalla Fincorp is committed to making a positive impact on society through its CSR initiatives. From promoting financial literacy and inclusion to supporting education and healthcare initiatives, the company actively contributes to the welfare of communities across India.

Also Read: Meet Abhay Bhutada: The Winner Of Lokmat Maharashtrian Of The Year 2024

Conclusion

Poonawalla Fincorp's stellar performance in Q4FY24 is a testament to its unwavering commitment to excellence, innovation, and customer-centricity. Under the visionary leadership of Mr. Abhay Bhutada, the company has not only achieved remarkable milestones but has also set new benchmarks for the NBFC sector. As Poonawalla Fincorp continues its journey of growth and transformation, it remains poised to create enduring value for its stakeholders and contribute significantly to India's economic growth story.

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