Please find enclosed herewith transcript of the Investor Earning Conference Call pertaining to Financial Results for the quarter and year ended March 31, 2025
MONEYBOXX · price
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Moneyboxx Finance reported FY25 AUM of INR927 crores, up 27% YoY but below initial targets, with cumulative disbursements reaching INR1,800 crores. Total income grew 56% to INR199 crores and net interest income rose 60% to INR136 crores, but PAT collapsed to just INR1.25 crores (from INR9.14 crores in FY24) as elevated NPA provisions ate into operating profits. GNPA climbed to 6.61% (from 5.6%) and net NPA to 3.42%, though collection efficiency improved sharply to 99.4% by March 2025. Secured lending now constitutes 45% of AUM (up from 24%), with management targeting 65% secured AUM by March 2026. The company expanded to 163 branches across 12 states, raised INR185 crores via NCDs, and net worth grew 54% to INR261 crores. Management guided 50%+ AUM growth for FY26, opex at 11-12%, and called FY26 a 'year of recovery' with FY27 expected to be significantly better.
Near-term profitability remains under pressure due to elevated credit costs and NPA provisioning, though operational metrics are clearly improving. Shareholders should expect gradual margin recovery as secured lending share rises and borrowing costs decline toward 9.5% over 3 years. The sharp PAT decline and missed AUM targets may weigh on the stock, but management's clear recovery roadmap and improving collection efficiency provide a constructive medium-term outlook.