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Time of India
03-06-2025
- Business
- Time of India
Signs of revival: Five listed NBFC-MFIs take Rs 2,440 cr bad loans off balance sheets in Jan-March
Kolkata: Microfinance lenders accelerated the cleansing of their balance sheets in January-March, taking a further hit on profitability as the burden of stressed loans refused to ease, with the once-reputed credit culture of bottom-of-the-pyramid borrowers waning. The write-off was part of a strategy to bite the bullet and be future-ready as the industry expects a turnaround in a quarter or two. The five publicly listed non-banking finance companies-microfinance institutions (NBFC-MFIs)—CreditAccess. Grameen, Fusion Finance , Muthoot Microfin , Satin Creditcare Network and Spandana Sphoorty —cumulatively wrote off bad loans worth Rs 2,440 crore in the fourth quarter of FY25, compared with less than Rs 300 crore in the year-ago period. The idea is to begin the fiscal year by shedding the stickiest and ageing non-performing assets from the balance sheet . Writing off loans needs full provisioning against those accounts. Accelerated write-offs require lenders to raise the provisioning level and take a larger hit on the profit and loss account. 'While challenges remain, the early signals are encouraging, showing a clear reversal,' said HP Singh, chairman of Satin, on a post-earnings analyst call. He noted that at times, only disruption can shake companies out of complacency and force a transformation. 'This perfectly captures the spirit of FY25 — a year many in India's microfinance sector might remember as a testing period, others as a wake-up call.' Satin was the sole listed NBFC-MFI that was profitable in all four quarters of FY25. Udaya Kumar Hebbar, managing director of CreditAccess Grameen , said on an analyst call, 'The rising delinquency trend in the microfinance industry, which began in April 2024, peaked in November 2024, subsequently reversing till March 2025. We are already witnessing a new PAR ( portfolio at risk) accretion rate largely getting normalised across all states, excluding Karnataka.' CreditAccess is the country's largest NBFC-MFI. Live Events HEAVY LOAD Gross non-performing assets (NPAs) before the technical write-off hit a record Rs 61,000 crore at the end of March, up from Rs 38,000 crore a year prior to that, as borrowers defaulted due to over-indebtedness. The sector's cumulative gross loan portfolio contracted by about 7% to Rs 3.81 lakh crore at the end of the March quarter, from the year earlier, as lenders slowed disbursement to prevent further loan losses. Lenders write off loans when there is no realistic prospect of recovery. Accelerated write-offs contribute to elevated credit costs, impacting the profit and loss account. Recoveries against such written-off loans, if any, will get credited to the profit and loss statement. The move was forced by growing customer overleveraging, crumbling of the joint liability model, rising staff attrition and disruptions in Karnataka and Tamil Nadu. For instance, Fusion wrote off Rs 917 crore during the fourth quarter alone, nearly 40% of the cumulative write-offs by listed NBFC-MFIs. To put this into perspective, it had written off Rs 970 crore (net of recoveries) in the past 14 years before FY25. Satin had never written off loans before FY25 despite repayment disruptions during events such as demonetisation and the pandemic. Spandana, which is now under regulatory scrutiny for alleged misreporting and suppression of fraud, wrote off Rs 1,555 crore over the four quarters of FY25. 'The MFI industry stood at a critical juncture, facing formidable challenges,' said Singh of Satin. 'Institutions had to navigate a shifting landscape, clients experienced heightened vulnerability and the sector as a whole was compelled to rethink long-held assumptions.' It forced the sector to pause, reflect and reset, he said. 'These disruptions served as a catalyst, driving deep introspection, operational recalibration and a renewed focus on fundamentals,' Singh said.
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Business Standard
07-05-2025
- Business
- Business Standard
Satin Creditcare Q4: Profit falls 67% on higher credit costs, weak AUM
Microfinance lender Satin Creditcare Network Ltd's standalone net profit declined by 67.2 per cent year-on-year (Y-o-Y) to Rs 41 crore in the fourth quarter ended March 2025 (Q4FY25) due to a rise in credit costs and muted loan growth. For the financial year ended March 2025, Satin's net profit fell by 48.8 per cent to Rs 217 crore, from Rs 423 crore in FY24. Its stock closed 2.66 per cent lower at Rs 167.60 per share on the BSE. Revenues for the reporting quarter (Q4FY25) declined by 5.4 per cent Y-o-Y to Rs 562 crore, the company said in a statement. Net interest margins fell from 14.2 per cent in Q4FY24 to 11.8 per cent. Impairment costs of financial instruments rose from Rs 64.16 crore in Q4FY24 to Rs 105.19 crore in Q4FY25. H P Singh, chairman and managing director, Satin Creditcare, told Business Standard that the decline in profit was attributable to a significant rise in credit costs and muted growth in assets under management (AUM). The company's AUM grew by 6.8 per cent Y-o-Y to Rs 11,316 crore as of the end of March 2025. At present, the company is not providing growth guidance. It will assess how the first quarter ending June 2025—which coincides with the summer season and potential heatwave risks—unfolds. Growth in FY26 is expected to be better than FY25, Singh added.
Economic Times
07-05-2025
- Business
- Economic Times
Satin Creditcare Q4 Results: Profit slumps 69% to Rs 41 crore on asset quality stress
Satin Creditcare Network's Q4 net profit plummeted 67% to Rs 41 crore due to asset quality stress and rising credit costs. Despite a challenging environment, the lender achieved its 15th consecutive profitable quarter, with assets under management growing 7% to Rs 11316 crore. Loan disbursements saw a slight increase of 2.5% to Rs 2882 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Microfinance company Satin Creditcare Network reported a 67% drop in fourth quarter standalone net profit at Rs 41 crore over Rs 125 crore seen in the year-ago period, on account of the ongoing asset quality stress and resultant rising credit pre-provision operating profit for the quarter stood 44.4% lower at Rs 126 lender's credit cost for the quarter rose to 3.8% as compared with 2.6% in the year ago period. The credit cost for the whole FY25 stood higher at 4.6% against the guided range of 4.5%–5%.The gross non-performing assets ratio was at 3.7% at the end of the last fiscal, rising from 2.5% a year back. The rise could be contained through offloading of bad loans by way of technical write-offs and sale of bad loans to an asset reconstruction company, Satin chairman HP Singh told wrote-off loans to the tune of Rs 38 crore for the quarter and Rs 301 crore for the full fiscal. It sold loans worth Rs 200 crore to an ARC during the fourth quarter."We have delivered our 15th consecutive profitable quarter, despite the challenging business environment marked by volatility and policy transitions. We are also pleased to report that our performance remained closely aligned with our stated guidance," Singh lender's assets under management grew 7% year-on-year to Rs 11316 crore at the end of March. Loan disbursement for the fourth quarter was 2.5% higher at Rs 2882 crore against Rs 2810 crore seen in the year-ago period."FY25 was undoubtedly more challenging than the strong year we saw in FY24. So, for us to surpass our previous year's disbursement levels is a big win," Singh said.
Time of India
07-05-2025
- Business
- Time of India
Satin Creditcare Q4 Results: Profit slumps 69% to Rs 41 crore on asset quality stress
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Microfinance company Satin Creditcare Network reported a 67% drop in fourth quarter standalone net profit at Rs 41 crore over Rs 125 crore seen in the year-ago period, on account of the ongoing asset quality stress and resultant rising credit pre-provision operating profit for the quarter stood 44.4% lower at Rs 126 lender's credit cost for the quarter rose to 3.8% as compared with 2.6% in the year ago period. The credit cost for the whole FY25 stood higher at 4.6% against the guided range of 4.5%–5%.The gross non-performing assets ratio was at 3.7% at the end of the last fiscal, rising from 2.5% a year back. The rise could be contained through offloading of bad loans by way of technical write-offs and sale of bad loans to an asset reconstruction company, Satin chairman HP Singh told wrote-off loans to the tune of Rs 38 crore for the quarter and Rs 301 crore for the full fiscal. It sold loans worth Rs 200 crore to an ARC during the fourth quarter."We have delivered our 15th consecutive profitable quarter, despite the challenging business environment marked by volatility and policy transitions. We are also pleased to report that our performance remained closely aligned with our stated guidance," Singh lender's assets under management grew 7% year-on-year to Rs 11316 crore at the end of March. Loan disbursement for the fourth quarter was 2.5% higher at Rs 2882 crore against Rs 2810 crore seen in the year-ago period."FY25 was undoubtedly more challenging than the strong year we saw in FY24. So, for us to surpass our previous year's disbursement levels is a big win," Singh said.
Yahoo
25-02-2025
- Business
- Yahoo
Therma-Tru to Highlight Latest Innovations at International Builders' Show
MAUMEE, Ohio, February 25, 2025--(BUSINESS WIRE)--Therma-Tru will showcase its top entry and patio doors and its reimagined complete door system at the International Builders' Show, Booth #C3830, Feb. 25-27 in Las Vegas. Featured products including a Veris concept door featuring walnut infill panels and Satin and Satin privacy glass for its expansive Veris Collection will be on display. "We've engineered door systems that offer unbeatable performance, durability and protection while embracing the latest design trends," said David Youn, President, Outdoors, for FBIN. "Our latest offerings showcase our 60-year commitment to innovation and thorough testing, ensuring every door delivers maximum quality safety and style, supported by comprehensive, industry-leading warranties to protect what matters most." Therma-Tru has designed the only door you'll ever need. Proven to perform, protect and preserve, a Therma-Tru complete door system is the culmination of more than 60 years of expertise in material science, engineering and manufacturing. Its on-trend doors are tested against extreme environmental conditions — far beyond industry standards — to ensure maximum durability and safety. Explore our Complete Door System at The Therma-Tru Network Advantage Designing, manufacturing, distributing and installing a Therma-Tru door requires a network of experts every step of the way. It's more than just a collection of parts. It's decades of engineering, material science expertise and testing at work. That's why more than 80 million homes trust a Therma-Tru door to protect what matters most. Learn more at Veris Collection Explore an expansive portfolio of glass-forward aluminum door systems from Therma-Tru, now available with Satin privacy glass and a Veris concept door featuring walnut infill panels will be on display in the booth. The Veris Collection brings together high-end style and unique functionality to create elegant, contemporary openings. Engineered for easy, worry-free operation and designed with the highest quality aluminum, stainless steel and polymer components, the collection is virtually maintenance-free and backed with a one-time transferable lifetime limited warranty and a balance-transferable 10-year limited warranty on finish. Meets ENERGY STAR requirements in all 50 states. In a commitment toward energy efficiency, Therma-Tru has exterior door options to meet ENERGY STAR requirements in all 50 states, and 99.8 percent of its products are NFRC-certified. Together, these independent certifications help homeowners make informed decisions on buying products that save on energy costs and help protect the environment. Discover exclusive Therma-Tru door system solutions at Booth #C3830 at IBS, Feb. 25-27 in Las Vegas. Booth #C3830 will also showcase Therma-Tru sister brands Larson (storm doors), Fiberon (decking, railing and cladding), Fypon (decorative millwork) and Solar Innovations (custom glass doors, windows and structures), featuring a legacy of more than 200 combined years of material science expertise and product innovation. No other brand portfolio offers as diverse a range of products for the outer home. Showcasing the brands together allows customers to experience the collective of these brands as they were intended — to inspire them to manifest their outer home. About Therma-Tru Therma-Tru is the leading entry door brand most preferred by building professionals. Founded in 1962, Therma-Tru pioneered the fiberglass entry door industry, and today offers a complete portfolio of entry door system solutions proven to outlast and outperform wood and steel. Therma-Tru is part of Fortune Brands Innovations, Inc. (NYSE: FBIN). Learn more at About Fortune Brands Innovations Fortune Brands Innovations, Inc. (NYSE: FBIN), headquartered in Deerfield, Ill., is a brand, innovation and channel leader focused on exciting, supercharged categories in the home products, security and commercial building markets. The Company's growing portfolio of brands includes Moen, House of Rohl, Aqualisa, Emtek, Therma-Tru, Larson, Fiberon, Master Lock, SentrySafe, Yale residential and August. To learn more about FBIN, its brands and environmental, social and governance (ESG) commitments, visit View source version on Contacts Amy Evans317-873-8100 x281amy@
