CreditAccess Grameen Ltd
CreditAccess Grameen Ltd (CREDITACC)

CreditAccess Grameen Ltd (CREDITACC)

₹994.10.64%

Key Stats

₹990
Day's Price Range
₹1005.15
₹494.7
52-Week Price Range
₹1154
1 Month Return1.82 %
3 Month Return-1.63 %
1 Year Return57.2 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 210
32.58
EPS
Rank 60
₹30.7
BVPS
Rank 67
₹255.19
Dividend Yield
Rank 112
ROE
Rank 191
10.09%
Price To Book Ratio
Rank 242
3.92
Debt To Asset
Rank 78
0.75

Company Information

CreditAccess Grameen Limited formerly known as Grameen Koota Financial Services Pvt. Ltd. is a microfinance institution providing a wide range of financial services to the rural poor and lowincome households particularly women. It is registered with the Reserve Bank of India under the NBFCMFI category. The company provides loans primarily under the joint liability group JLG model. Its primary focus is to provide income generation loans which comprised 87.02 of its total JLG loan portfolio as of March 31 2018. It also provides other categories of loans such as family welfare loans home improvement loans and emergency loans to existing customers. CreditAccess Grameen is also an aggregator of the National Pension Scheme NPS of the Government of India. As of March 31 2018 CreditAccess Grameen had 516 branches across 132 districts in the states of Karnataka Maharashtra Madhya Pradesh Chhattisgarh Tamil Nadu Odisha Kerala Goa and the union territory of Puducherry.CreditAccess Grameen is promoted by CreditAccess Asia N.V. a multinational company specializing in MSE financing micro and small enterprise financing.CreditAccess Grameen Limited was incorporated as a private limited company with the name Sanni Collection Private Limited SCPL on June 12 1991 at Calcutta West Bengal India. In 1998 the company obtained NBFC registration. In February 2007 the entire shareholding of SCPL was acquired by Vinatha M. Reddy Vijitha Subbaiah and Suresh K. Krishna in their respective individual capacity. Subsequently in October 2007 the microfinance business being operated under T. Muniswamappa Trust TMT a public charitable trust engaged in the business of providing micro loans in Karnataka was transferred to SCPL. The microfinance business being operated under TMT was established as a programme under the name Grameen Koota in 1999. In 2008 the company launched Mifos software in all its branches. During the year under review the company commenced operations in Maharashtra.Subsequent to the acquisition of SCPL and the transfer of the microfinance business of TMT to SCPL SCPL was rebranded under the Grameen name and pursuant to a resolution of the shareholders of SCPL its name was changed from SCPL to Grameen Financial Services Private Limited GFSPL on March 14 2008 post which the Reserve Bank of India RBI granted a certificate of registration dated July 28 2009 reflecting the change of name. In 2010 the company raised Rs 57.60 crore through securitization. In 2011 it commenced integration with Credit Bureau for credit decisions and also commenced multiproduct strategy.The Company was granted NBFCMicrofinance Institution NBFCMFI status by the RBI with effect from September 5 2013. Subsequently the name of the Company was changed to Grameen Koota Financial Services Private Limited on November 13 2014. Further a fresh certificate of registration consequent upon change of name was issued to the company by the RBI on December 16 2014. In 2014 CreditAccess Asia N.V. acquired a majority stake in the company.In 2015 the company commenced operations in Madhya Pradesh and Chhattisgarh. During the year under review the company established seven regional processing centres across its operational geographies. During the year under review the company launched a core banking IT solution T24.In 2016 the company introduced business loans facilities as part of the Retail Finance division.The Company was converted into a public limited company pursuant to a special resolution passed by Shareholders at the EGM held on November 27 2017 and the name of the Company was changed to Grameen Koota Financial Services Limited on December 18 2017. Subsequently pursuant to a resolution passed by the shareholders of the Company at the EGM held on January 2 2018 the name of the Company was changed to CreditAccess Grameen Limited on January 12 2018. Subsequently the RBI granted a fresh certificate of registration dated January 19 2018 bearing registration number B 02.00252 for registration as an NBFC under Section 45 IA of the Reserve Bank of India Act 1934 under the name CreditAccess Grameen Limited.CreditAccess Grameen came out with an initial public offer IPO during the period from 8 August 2018 to 10 August 2018. The IPO was a combination of fresh issue of Rs 630 crore and an offer for sale of 1.18 crore equity shares from promoter CreditAccess Asia N.V. The IPO was priced at Rs 422 per share. The stock made its debut on the bourses on 23 August 2018.On 28 August 2018 CreditAccess Grameen Limited announced that it has completed a securitisation transaction of Rs. 91.22 crore on August 27 2018. This transaction is the first one after listing of the companys shares on BSE NSE.On 31 August 2018 CreditAccess Grameen Limited announced that it has completed a securitisation transaction of Rs 248.35 crore on August 31 2018. With this transaction the company has completed five securitization transactions and one Direct Assignment transaction totalling to Rs.733.11 crore in FY19. The entire pool qualifies for Priority Sector treatment as per the Reserve Bank of Indias Priority Sector lending guidelines. The pool has been rated Provisional IND A SO by India Ratings Research which signifies adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.On 7 September 2018 credit rating agency upgraded the longterm rating of CreditAccess Grameen Limited CAGL to ICRAA pronounced ICRA A plus from ICRAA pronounced ICRA A. ICRA has also reaffirmed the short term rating at ICRAA1 pronounced ICRA A one plus for the short term credit of the captioned facilities. The rating upgrade takes into account successful completion of CAGLs initial public offering IPO in August 2018 resulting in a strengthened capitalization profile and sustained improvement in the companys operating performance which was driven by portfolio growth.
OrganisationCreditAccess Grameen Ltd
HeadquartersBangalore
IndustryFinance