Multibagger Share CreditAccess Grameen Limited: India’s Microfinance Giant with a Focus on Rural Women
CreditAccess Grameen Share: Headquartered in Bengaluru, CreditAccess Grameen Limited stands as a testament to India’s microfinance sector’s growth and potential. Primarily focusing on women customers in rural areas, the company provides them with micro-loans, empowering them to achieve financial independence and contribute to the economy.
CreditAccess Grameen Share : This institution boasts a wide network of 1,877 branches spread across 16 states, encompassing 364 districts and a Union Territory. Behind this microfinance giant’s operations is its promoter, CreditAccess India B.V., a multinational entity specializing in micro and small enterprise financing. With institutional investors’ backing, CreditAccess Grameen Limited has over a decade of experience in the Indian micro-lending space.
CreditAccess Grameen Share A Glimpse of Their Outstanding Financial Performance
The recently announced Q2FY24 results shed light on the company’s robust financial health. Their revenue witnessed an impressive 54% hike, reaching INR 1,247 crores, up from INR 809 crores during the same quarter of the previous financial year. Similarly, the operating profit rose by 76%, amounting to INR 904 crores, in contrast to the prior year’s INR 515 crores. Furthermore, net profit surged by 99% to INR 349 crores, up from INR 176 crores the previous year.
A deeper dive into their growth trajectory reveals that over the past three years, the company has successfully increased its sales by 27% (CAGR) and its net profit by 36% (CAGR).
CreditAccess Grameen Share Stock Performance and Investor Outlook
CreditAccess Grameen Limited has gifted its investors with a remarkable return of 58% in the past year and an astounding 142% over the last three years. With a ROCE of 12.2% and an ROE of 17.8%, it’s evident why this stock has been on the radar of many investors. This bullish sentiment was further emphasized on Monday when the company’s shares soared by over 12%, reaching a new 52-week high of INR 1,560. Alongside the price surge, the trading volume also saw a massive increase, registering a jump of more than 5.12 times.
Considering the strong financials and growth prospects, investors should keep a close watch on this notable stock in the microfinance sector.
